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Province Announces 2021 Budget

The provincial government has released details of the 2021 budget.

The budget includes increased spending on health care as well as grants to businesses and parents to help them during the pandemic. 

About $100 billion in new debt and deficits not expected to end before 2029 are part of the budget. 

The budget's deficit is about $33.1 billion, which is lower than the $38.5 billion it was at last year.

Deficits of $27.7 billion and $20.2 billion are expected for 2022-23 and 2023-23. 

The province will spend $186.1 billion this year. 

About $5.1 billion has been set aside to assist hospitals with backlogs for surgeries, providing assistance to groups most impacted by the pandemic and the addition of 3,100 more hospital beds. 

In addition, $2.3 billion has been set aside for COVID-19 contact tracing and PCR testing. 

The province has also pledged $1 billion to help public health units administer vaccines. 

To help businesses, establishments that can prove revenue losses due to COVID-19 can apply for a second round of cash grants between $10,000 - $20,000. 

To assist the tourism sector, the Ford government has committed $400 million over the next four years, as well as a program announced last year to cover 20 percent of the cost of in-province travel for Ontarians, when travel is considered safe. 

In addition, parents will receive $400 per school-age child and $500 per special needs child. 

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