The Doug Ford government will prepare Ontario's 2024 budget today, Tuesday.

Officials have remained relatively silent about the budget's contents, only promising that they will not raise taxes and will focus on rebuilding the economy.

The Premier said at a press conference on Monday: "We will always make sure we put money in people's pockets instead of the government's pockets."

Finance Minister Peter Bethlenfalvy paved the way for his upcoming budget late last week by purchasing new steel-toed boots instead of traditional shoes on budget day.

He said at Mark's store, formerly known as Mark's Work Wearhouse, on Friday: "We are rebuilding the economy." "I am touring construction sites across the province, so these sites will be very useful."

"Let's go to build Ontario."

The budgets of the past few provinces have heavily focused on industry, manufacturing, and infrastructure – and there's no doubt this year will be the same.

Here's what you need to know:

When will we get out of the red?

The government last year expected to achieve budget balance by 2025.

Under this spending plan, the largest in the province's history, Ontario’s deficit will drop to $2.2 billion this fiscal year before falling to $1.3 billion in 2023-2024.

However, in February, Bethlenfalvy predicted Ontario would end this fiscal year with a $4.5 billion deficit. It is unclear what this means for the province’s financial timeline and whether the government still expects a surplus in 2025.

Some additional spending is likely a result of delayed payments from Bill 124.

Extension of the fuel tax cut

The Premier announced on Monday that the gas and fuel tax cut will be extended through the end of the year.

The cut, which temporarily reduced the gas tax by 5.7 cents per litre and the fuel tax by 5.3 cents per litre, was scheduled to end on June 30.

The government says the tax rate reduction has saved Ontario families an average of $320 since it was first introduced in 2022.

This policy costs about $320 million for 2023-2024 and $325 million for 2024-2025.

New money for housing infrastructure

The province has already announced it will invest about $1 billion in a new municipal housing infrastructure program that will support "core infrastructure projects that help enable housing for growing and developing communities, such as roads and water infrastructure." Few details have been released about program eligibility.

An additional $625 million will be added to the water systems fund to enable housing in the province, which helps repair and expand access to water infrastructure.

Will we get details on major infrastructure project costs?

The government pledged about $4 billion for highways in the 2023 budget; however, Ontario residents have yet to see full cost details for some major projects in the province, such as Highway 413.

The province recently reached an agreement with the federal government that paves the way for the Ford government to proceed with this highway without an environmental assessment.

In the province’s fall economic statement, the government pledged to invest an additional $3 billion in a new infrastructure bank to help stimulate community development.

Officials say it will allow public sector pension plans and other "trusted institutional investors and Indigenous communities" to "continue to participate in large-scale infrastructure projects."

Few other details have been provided.

Increased funding for post-secondary education

The province said it will spend an additional $1.3 billion over three years to "stabilize" post-secondary institutions with a tuition freeze for another three years.

About $903 million will be delivered to universities and colleges, with some funds allocated to those with the highest financial needs.

The remaining funding will go toward capital funding.

Tuition increases will be allowed for domestic students outside the province or Canadians living outside Ontario by up to five percent in 2024-2025.

Where are we on housing?

Last year, housing starts in the province appeared to be declining despite new measures taken by the government.

In 2022, there were 96,000 new homes, and a little over 80,000 homes are expected in 2023.