Ontario's deficit projected to be $3-billion less than estimated, Duncan says Just days before Ontario Liberals meet to choose the province's next premier, Finance Minister Dwight Duncan released a piece of good fiscal news. The province's deficit is projected to be nearly $3-billion less than Mr. Duncan estimated in last year's budget, thanks in part to the end of a system that allowed teachers to bank and cash in their sick days. In a speech to the Canadian Club at a downtown Toronto hotel, Mr. Duncan pegged this year's deficit at $11.9-billion, down from the $14.8-billion projected in the budget. Besides the sick-day bank, Mr. Duncan credited $1.1-billion in unexpected corporate tax revenues. The speech is one of the last Mr. Duncan will make as finance minister: he will step down from cabinet after Liberals choose their new leader. If his close ally Sandra Pupatello wins the top job, he has also made clear he will step aside so she can run for his seat in a by-election.