In 2023/24, the province's net debt reached $408 billion.
ontario deficit
By the end of this fiscal year, deficits under the Ford government will total a projected $41.7 billion over six years.
The Ford government will spend an estimated $12,405 per person this year compared to the Wynne government's average of $11,784.
The government plans to increase spending by 8.6 per cent.
Annual debt growth has increased substantially since 2018 when the Ford government took office.
Between 2018/19 and 2022/23, the Ontario government expects a 6 per cent increase in inflation-adjusted per-person spending.
It’s always easier to promise fiscal restraint several years down the road than actually deliver on it.
The province's net debt has climbed from $338 billion in 2018 to more than $400 billion.
The government has increased per-person spending by more than 10 per cent between 2018/19 and 2020/21.