Federal program spending will increase by a projected $115 billion over six years.
income tax rates
The province has some of the highest personal income tax rates in North America.
The province's program spending will increase by more than 85 per cent since 2016/17.
The tax increase will deter business investment in the economy and chase away capital.
At $50,000 of income, residents in the province face the third-highest tax rate among 61 jurisdictions in North America.
The Ontario government expects a net debt increase of more than $24 billion this year alone.
Only 16 per cent of Canadians said they receive good or great value for their tax dollars.
An individual making C$50,000 per year faces a higher income tax rate in Ontario than in every U.S. state.
From 2013 to 2022, per-person economic growth—a broad measure of living standards—was at its lowest rate since the Great Depression.