At $29.4 billion, the projected budget deficit in 2016/17 is larger than the cumulative budget deficits projected for the entire mandate in the Liberal platform.
debt and deficit
By 2017/18 spending will be up by $50 billion from 2014/15, representing a jump of 20 per cent.
Provincial net debt has increased by approximately $160 billion since 2003/04.
Once new major spending is factored in, the annual deficit is likely to be more than $25 billion.
The province is facing a nearly $2 billion projected operating deficit.
By the Ontario government’s own count it has 380,000 regulations on the books, twice as many as the next province.
Ontario will run its eighth consecutive budget deficit in 2015/16, with a projected $7.5 billion shortfall.