Ontario now anticipates a $38.5 billion budget deficit this fiscal year.
The provincial debt is forecasted to reach $360 billion this year.
The projected deficit will hit $9 billion in 2019-20.
Ontario’s debt burden is forecasted to increase by $48.2 billion between 2018 and 2023.
From 2007-2016, private-sector employment growth in Ontario averaged just 0.6 per cent annually.
Ontario's net debt will reach a forecasted $390 billion within the next five years.
Throughout the 1970s and ’80s, governments across the country regularly ran deficits and racked up debt.
According to forecasts, by 2023/24, Ontario's annual government debt interest costs will hit $15.5 billion.
In 2018/19, the Ontario government expects to spend approximately $12.6 billion more than it collects.