Ontario and Alberta are projecting budget deficits for years to come.
This year, the government expects to add $16.8 billion to the province’s net debt.
This year’s budget plans to increase program spending by 6.1 per cent this year.
Ontario will run budget deficits of nearly $7 billion in each of the next three fiscal years.
Ontario’s debt-to-GDP ratio has climbed from 26 per cent pre-recession to 38 per cent today.
Ontario’s upcoming provincial budget will likely include a significant increase in government spending with an eye on the spring election.
The upcoming 2018 budget will send a clear signal about the Wynne government’s direction.
In 2016-17, the deficit was $0.991 billion but $6.276 billion was added to the net debt.