The Ontario government projects a $19.9 billion deficit this year and continued deficits until 2027-28.
debt interest payments
The federal government projects a $52.8 billion budget deficit for 2022/23.
Federal debt interest will cost a projected $42.9 billion in 2026/27.
The federal debt is expected to eclipse $2 trillion by 2025-26.
Other countries have built health-care systems that perform better than Canada’s at a comparable or lower cost.
At $2,055 per person, the province's government debt burden is the highest in Canada.
By 2023/24, debt interest will consume 6.6 per cent of all provincial revenues.
According to budget forecasts, debt interest payments will reach $3.3 billion by 2023/24.
The government has run budget deficits every year since 2008/09.