The province’s net debt will reach a projected $428.7 billion this year.
ontario government spending
Ontario’s per-person government debt is 66.6 per cent higher than the weighted average of all other provinces.
Between 2018/19 and 2022/23, the Ontario government expects a 6 per cent increase in inflation-adjusted per-person spending.
Despite steep budget deficits, successive provincial governments have been unwilling to reduce spending.
The province plans to give $500 million in loans and grants to a steel manufacturer in Hamilton.
Compared to Ontario, the average per-capita GDP is 32.7 per cent higher in the rest of the Great Lakes region.
In the recent past, the province's recessions have been followed by extended periods of debt growth.