Ontario has a debt burden of more than $300 billion.
The FAO projects a deficit of $12 billion due to higher spending and weak revenue growth.
At the end of this year, Ontario will have run 10 operating deficits in 11 years.
The province’s debt load will hit $325 billion this year.
The province is $325 billion in debt.
The province’s debt problem is due to dramatic increases in government spending.
Contrary to government claims, Ontario’s auditor general says the province’s deficit is $11.7 billion.
Between 2007/08 and 2018/19, Ontario’s debt has grown from $157 billion to $325 billion.
This year, the government expects to add $16.8 billion to the province’s net debt.