and continued balance in 2018–2019. Since Sousa became Finance Minister in 2013 the provincial net debt has risen from $252.1 billion to $305.2 billion. In November 2016, Sousa released the 2017 Fall Economic Statement, which continued to project a balanced budget in 2017–2018, and projects a balance in 2018–2019 and 2019–2020. The statement also marked the eighth consecutive year that the government had beaten its deficit targets. The statement also announced a list of new initiatives, including the launch of previously announced initiatives like OHIP+, increased minimum wage, and supports for seniors. The statement announced new small business tax cuts, as well as cost-lowering initiatives and supports for business who hire young people. In June 2016, Sousa, through negotiations with the federal Ministry of Finance and other provinces, signed a deal to replace the planned ORPP with an enhanced CPP, The Ontario government, along with other provinces, had been pushing for an enhanced CPP since 2013, quoting studies showing that middle-class Canadians were not saving enough for retirement. The Conservative government of Prime Minister Stephen Harper did not want to discuss the idea. That lack of co-operation from Ottawa prompted Wynne to promise the ORPP, but she emphasized Ontario would abandon that plan if a deal to enhance the CPP could be reached. In November 2016, Sousa announced plans to create a new regulator in the province to consolidate and strengthen oversight of credit unions, mortgage brokers, provincial pension plans and provincially registered insurers. The creation of the Financial Services Regulatory Authority (FSRA) was a key recommendation of an expert panel on financial regulation convened by the Ontario government. In April 2017, Sousa released the 2017 Ontario Budget. As his government promised when elected in 2014, the budget was the Ontario's first balanced budget since the 2008 global recession. The budget announced new government initiatives like free prescription medications for everyone 24 and under (dubbed OHIP+), free tuition for 210,000+ post-secondary students, a 25% cut to energy bills via the Fair Hydro Plan, housing affordability measures through the Fair Housing Plan, the Ontario Seniors' Public Transit Tax Credit, and increased investment for healthcare and education. Included in the budget, but announced previously, were initiatives like a plan to study basic income with pilot projects in 3 cities, and a pledge to open 100,000 new child-care spaces with a quarter of those spots set to open in 2017. On March 28,