Between 2000 and 2019, New York's average per-person GDP growth more than doubled Ontario's growth rate.
ontario government spending
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.
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.