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.
Ontario’s debt-to-GDP ratio has climbed from 26 per cent pre-recession to 38 per cent today.
Ontario’s upcoming provincial budget will likely include a significant increase in government spending with an eye on the spring election.
The upcoming 2018 budget will send a clear signal about the Wynne government’s direction.