In 2020/21, the provinces ran a cumulative deficit of $59.8 billion.
provincial government spending
Canadians aged 65 or older will comprise nearly 24 per cent of the population by 2040.
Government accounted for 61.6 per cent of all economic activity in the province.
The annual cost to service the province's debt has hit $1.1 billion.
There was an aura of complacency in Queen’s Park as the Ontario government released its update on the state of provincial finances.