Ontario's debt interest costs will rise by 21 per cent.
According to government forecasts, Ontario’s debt will climb to $502 billion in 2023/24.
According to the budget, debt interest payments will total $13.1 billion in 2021/22.
By fiscal year 2023/24, Ontario's provincial net debt will eclipse $503 billion.
The government has run budget deficits every year since 2008/09.
By 2020/21, the provincial net debt equaled $27,010 per Ontarian.
Ontario spent $12.5 billion on government debt interest in 2020/21.