Ontario hits $21.3-billion deficit this year, down from projected $25-billion

TORONTO, Ont. – Ontario Finance Minister Dwight Duncan said the province will have a $21.3-billion deficit this year, down from the record $24.7-billion he projected last fall.

He said revenue numbers are up across the board, including corporate and sales taxes.

Duncan said the numbers are better than last fall, but haven’t been restored to pre-recession levels yet.

He said Thursday’s budget will be about jobs and growth as the province recovers from the global economic downturn.

The governing Liberals are expecting to take seven years before re-balancing the province’s books.

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