Labour, Training and Skills Development Minister Monte McNaughton was in London Thursday to update business leaders on the Ontario government's fall economic update.

He told leaders the province inherited a dire fiscal situation.

McNaughton said the province is on schedule to balance the budget by 2023-24.

He also explained several projects will benefit the region.

He said there is funding to widen 31 kilometres of Highway 401 in Chatham-Kent, eliminating what's been called "carnage alley." Some $64 million is being invested to expand broadband internet in rural Southwestern Ontario and almost $20 million will go toward St. Joseph Health Care's mental health project in St. Thomas.

The deficit target for Ontario has been reduced by $1.3 billion, McNaughton said.

“We are investing more money in health care this year than in the history of the province. More money in education than in the history of the province. We are making those important investments while ensuring we are on a path to balance,” McNaughton said.