The province’s $5.6 billion operating deficit is just the tip of the iceberg.
According to the government’s new projections, the deficit will be $5.6 billion—quadruple what it projected earlier this year.
The province plans to spend $14.1 billion on debt interest in 2023/24.
The province's median income increased by just 5.4 per cent—less than half the overall growth rate across Canada.
The budget plan lacks a comprehensive vision to enhance the province's competitiveness.
The province's government debt burden equals 38.7 per cent of the provincial economy.
Ontario is approaching an all-time high in inflation-adjusted per-person spending.
The province's spending is forecasted to be $29.4 billion higher than previously projected for 2022/23.
Roughly half of all business income tax revenue collected by the province was sent back to select firms and industries.