By fiscal year 2023/24, Ontario's provincial net debt will eclipse $503 billion.
High spending levels increase government debt, which raises the spectre of future higher taxes and creates uncertainty for potential investors.
Within two fiscal years of Chretien's 1995 budget, federal finances had moved from large deficits to surpluses.
Most of Ontario’s February employment gains were for part-time work.
According to the 2020 budget, the government will spend an estimated $12.5 billion on debt interest.
Ontario's debt interest costs are expected to increase to $13.9 billion in 2022/23.
According to forecasts, Ontario's net government debt will approach $463 billion in 2022/23.
Ontario now anticipates a $38.5 billion budget deficit this fiscal year.
Ontario spent $12.5 billion on government debt interest in 2020/21.