The budget anticipates a deficit of $1.4 billion for 2021-22 and projects deficits of $548 million for 2022-23 and $440 million for 2023-24. Although the budget does not announce any changes to the corporate or personal tax rates, it adjusts the Education Property Tax Rebate for property owners, introduces a new Residential Renters Tax Credit, and extends certain corporate tax credits, among other changes.

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