Ontario’s debt load will soar to a forecasted $392 billion by 2023/24.
Ontario has the second-highest top combined provincial/federal marginal income tax rate in North America.
Over the next five years, net debt is expected to climb at an annual average rate of $9.6 billion per year.
Program spending this year is projected to be $17.7 billion higher than two years ago.
Ontario's 2018-19 deficit is an estimated $13.5 billion.
Ontario’s government spends more than $1 billion every month on debt interest.
This year’s budget shortfall is projected to eclipse $14 billion.
The government’s operating deficit now stands at $14.5 billion—only half a billion less than the pre-update status quo.
Deficits and debts are not free money—they come at a cost.