According to the government’s new projections, the deficit will be $5.6 billion—quadruple what it projected earlier this year.
The province plans to spend $14.1 billion on debt interest in 2023/24.
The province's median income increased by just 5.4 per cent—less than half the overall growth rate across Canada.
The budget plan lacks a comprehensive vision to enhance the province's competitiveness.
The province's government debt burden equals 38.7 per cent of the provincial economy.
Ontario is approaching an all-time high in inflation-adjusted per-person spending.
The province's spending is forecasted to be $29.4 billion higher than previously projected for 2022/23.
Roughly half of all business income tax revenue collected by the province was sent back to select firms and industries.
Government wages in the province were 10.9 per cent higher, on average, than wages in the private sector.