TORONTO (Reuters) - The government of Ontario stressed funding for skills training and infrastructure in its 2008-09 budget on Tuesday as it struggles to deal with the loss of tens of thousands of manufacturing jobs.
The fiscal plan for Canada’s most populous and industrialized province projected balanced budgets in each of the coming three years, but expectations were ratcheted down from a year ago, when the government boasted of a new era of “sustainable surpluses.”
For the fiscal year starting April 1, Ontario said it sees a balanced budget with a reserve of C$750 million ($737 million). If that reserve is not needed to cover surprises, it could result in a surplus.
Reporting by Lynne Olver, editing by Rob Wilson