UPDATE 1-Ontario pledges smaller deficits; labor unrest seen

April 23, 2015 9:00 PM

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TORONTO, April 23 (Reuters) - Ontario's Liberal government trimmed its budget deficit forecasts for the next two years on Thursday as it unveiled a budget that seeks cost cuts in education and healthcare, a move toward austerity that could spark labor unrest across the province.

Ontario, Canada's most populous province, which accounts for about 40 percent of the country's economy, will run a deficit of C$8.5 billion ($7 billion) in the 2015-2016 fiscal year as it aims to return to balanced books by 2017-2018, Finance Minister Charles Sousa's budget said.

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