What you need to know about Ontario's 2024 budget

The Ontario government tabled a budget Tuesday that forecast a ballooning deficit, investments in the home and community care sector, and support for a first-of-its-kind medical school.

Here are the highlights:

Ontario is projecting a deficit of $9.8 billion in the coming fiscal year, almost double what was projected in its fall economic update.

The deficit is projected to come down to $4.6 billion in 2025-2026 before the province posts a modest surplus the following year.

The $214.5-billion budget says high interest rates will continue to hurt Ontario's economy, with real GDP growth expected to slow to 0.3 per cent in 2024.

The budget also cites higher public sector salaries, increased infrastructure spending and gas tax relief as reasons for the deficit figures.

The budget pledges $2 billion over three years to the home and community care sector, which sees care provided at home or in a community setting by nurses, personal support workers and others.

The budget says the funding will increase compensation for personal support workers, nurses and other front-line care providers, and will "stabilize" expanded services.

Meanwhile, the budget's base funding for health care is projected to go from $85 billion this coming fiscal year to $89.9 billion in 2026-2027.

The budget says the government will support a new York University medical school based in Vaughan, Ont. It says the medical school would be the first in Canada primarily focused on training family doctors.

The Ontario Medical Association estimates up to 2.3 million people are without a family doctor, with that number expected to nearly double over two years. Citing job postings, the OMA said in January there were more than 2,500 physicians needed in the province.

With major nursing shortages also hitting Ontario, the government says it will also invest an additional $128 million over three years to boost nursing student enrolment at universities and colleges.

The budget says the money will help support enrolment increases of 2,000 registered nurse seats and 1,000 registered practical nurse seats.

The budget earmarks $200 million for a new application-based fund for new and revitalized sport, recreation and community facilities.