Peter Bethlenfalvy

The Honourable
Peter Bethlenfalvy
ECO MPP
Bethlenfalvy in 2025
Ontario Minister of Finance
Incumbent
Assumed office
December 31, 2020
PremierDoug Ford
Preceded byRod Phillips
President of the Treasury Board of Ontario
Incumbent
Assumed office
June 5, 2026
PremierDoug Ford
Preceded byCaroline Mulroney
In office
June 29, 2018 – June 18, 2021
PremierDoug Ford
Preceded byEleanor McMahon
Succeeded byPrabmeet Sarkaria
Member of the Ontario Provincial Parliament
for Pickering—Uxbridge
Incumbent
Assumed office
June 7, 2018
Preceded byTracy MacCharles
Personal details
Born
Montreal, Quebec, Canada
PartyProgressive Conservative
EducationMcGill University (BA, MBA)
University of Toronto (MA)
Occupation
  • Politician
  • businessman
Websitepeterbethlenfalvympp.ca

Peter Bethlenfalvy is a Canadian businessman and politician who is the minister of finance since 2020 and president of the Treasury Board of Ontario since 2026. Bethlenfalvy has sat in the Ontario Legislature as the member of Provincial Parliament (MPP) for Pickering—Uxbridge since the 2018 Ontario provincial election, representing the Progressive Conservative (PC) Party. He was previously the president of the Treasury Board from 2018 to 2021.

Early life and education

Bethlenfalvy was born in Montreal, Quebec, to Hungarian immigrants.[1] He earned a bachelor's degree in physiology, a master's degree in business administration from McGill University, and a master of arts degree from the University of Toronto.[2]

In business, Bethlenfalvy served as the chief investment officer at CST Consultants Inc. He has also held various other senior financial roles: senior vice-president of financial regulations at Manulife Financial, co-president of DBRS Ltd. (where the agency downgraded Ontario's long- and short-term debt ratings in 2009) and as president and chief operating officer of TD Securities in New York.[3]

Political career

He was elected to the Legislative Assembly of Ontario in the 2018 provincial election.[4] Pickering—Uxbridge was a new provincial riding for 2018. It was created out of parts of Pickering—Scarborough East, Ajax—Pickering and Durham. The PC Party formed government and on June 29, 2018, Bethlenfalvy was appointed president of the Treasury Board in Premier Doug Ford's Cabinet.[5]

In office, Bethlenfalvy has worked on projects such as a line-by-line review of government spending,[6] government modernization initiatives,[7] and controversially, Bill 124, which limits public sector compensation.[8]

Bethlenfalvy became finance minister after the resignation of Rod Phillips on December 31, 2020.[9][10]

The government's 2025 budget reported a $14.6 billion deficit; in 2026, the Ford government's budget deficit was nearly double what was projected in 2025, reaching $13.8 billion.[11][12]

Electoral record

2022 Ontario general election: Pickering—Uxbridge
Party Candidate Votes%±%
Progressive ConservativePeter Bethlenfalvy19,20844.43+2.23
LiberalIbrahim Daniyal12,34528.56+8.16
New DemocraticKhalid Ahmed6,93416.04−15.98
GreenJulia Rondinone2,2665.24+1.28
Ontario PartyLisa Robinson1,7904.14 
New BlueElizabeth Tallis5431.26 
CentristHasan Syed760.18 
ModerateNetalia Duboisky700.16−0.05
Total valid votes 43,232100.0  
Total rejected, unmarked, and declined ballots 321
Turnout 43,55345.29
Eligible voters 95,468
Progressive Conservative hold Swing −2.96
Source(s)
  • "Summary of Valid Votes Cast for Each Candidate" (PDF). Elections Ontario. 2022. Archived from the original on 2023-05-18.
  • "Statistical Summary by Electoral District" (PDF). Elections Ontario. 2022. Archived from the original on 2023-05-21.
2018 Ontario general election
Party Candidate Votes%
Progressive ConservativePeter Bethlenfalvy22,44742.20
New DemocraticNerissa Cariño17,03332.02
LiberalIbrahim Daniyal10,85120.40
GreenAdam Narraway2,1053.96
LibertarianBrendan Reilly2730.51
IndependentWilliam Myers1940.36
ModerateNetalia Duboisky1110.21
IndependentMichelle Francis960.18
IndependentEric Sivadas830.16
Total valid votes 53,193100.0  
Progressive Conservative pickup new district.
Source: Elections Ontario[13]

References

  1. ↑ "Transcript: Peter Bethlenfalvy: The Money Man | May 13, 2019 | TVO.org". www.tvo.org. Retrieved 2019-12-17.
  2. ↑ "LinkedIn".
  3. ↑ Calis, Kristen (13 June 2018). "MPP-elect Peter Bethlenfalvy turns Pickering blue". DurhamRegion. Metroland Media. Retrieved 20 June 2018.
  4. ↑ Henry, Michelle (June 7, 2018). "PCs sweep Durham, Ajax and Pickering-Uxbridge". Toronto Star.
  5. ↑ "Full list of Doug Ford's new cabinet in Ontario". Retrieved 2019-12-17.
  6. ↑ "Line-by-Line Review". news.ontario.ca. Retrieved 2019-12-17.
  7. ↑ "Ontario streamlines transfer payments, moves to online-first driver's licence and health card renewals | The Star". thestar.com. 21 November 2019. Retrieved 2019-12-17.
  8. ↑ "Ontario introduces legislation to limit compensation increases in the public sector". Emond Harnden. 2019-06-14. Retrieved 2019-12-17.
  9. ↑ Herhalt, Chris (December 31, 2020). "Rod Phillips resigns as Ontario finance minister following secret pandemic getaway". CTV News. Retrieved December 31, 2020.
  10. ↑ Loriggio, Paolo. "'Together we will blaze a new trail,' says Ontario's new Premier Doug Ford". CTV News. Archived from the original on June 29, 2018. Retrieved 29 June 2018.
  11. ↑ Callan, Isaac; D'Mello, Colin (26 March 2026). "Ford government runs deeper deficit, punts budget balance amid pessimistic outlook". Global News. Retrieved 2 April 2026.
  12. ↑ "Ford government unveils 2025 Ontario budget". CBC News. 15 May 2025. Retrieved 2 April 2026.
  13. ↑ "Summary of Valid Votes Cast for each Candidate" (PDF). Elections Ontario. p. 8. Archived from the original (PDF) on 28 December 2018. Retrieved 20 January 2019.
This page is issued from Wikipedia. The text is available under Creative Commons Attribution-Share Alike 4.0 unless otherwise noted. Additional terms may apply for the media files.