Ontario’s 2025 Fall Economic Statement

On November 6, Finance Minister Peter Bethlenfalvy released the 2025 Ontario Economic Outlook and Fiscal Review: A Plan to Protect Ontario. The economic statement focuses on strengthening the province through investments in health care, workers, and communities. 

Notable Highlights for the Long-Term Care Sector:  

• Ontario has committed $6.4 billion since 2019 to build 58,000 new and upgraded long-term care beds across the province by 2028. 

• As of October 2025, 148 long-term care homes are either open, under construction, or are approved to start construction. This includes:   
  • 44 homes completed, representing 2,871 new beds and 3,791 beds upgraded to modern design standards 
  • 104 homes under construction or approved to start construction, representing 10,305 new beds and 7,134 beds being upgraded to modern design standards

• The 2025 Long-Term Care Home Capital Funding Program builds on previous supplemental funding to stimulate and sustain the construction of new and upgraded long-term care homes across Ontario. It provides flexible financing and additional support to LTC operators and builders, helping to continue progress in expanding and modernizing capacity.

• The Building Ontario Fund (BOF) will continue to advance long-term care projects, supporting the construction and redevelopment of LTC homes.

FCO will continue to monitor new developments and track the progress of investments and projects announced in the 2025 Fall Economic Statement, highlighting their potential impact on long-term care communities. 

Read the full 2025 Fall Economic Statement  

Read the news release