Ontario will spend an estimated $13 billion on government debt interest costs in 2020/21.
debt interest payments
Ontarians carry the second-largest combined government debt burden among Canadians.
A one percentage point increase in the effective interest rate would increase Ottawa's annual debt interest costs by $13.8 billion.
Government debt interest will cost Albertans a projected $3.0 billion by 2022/23.
The update projects a $21.3 billion provincial budget deficit in 2020/21.
Debt interest will cost Ottawa an estimated $19.5 billion this year.
Ontario entered this recession with an already elevated government debt burden.
According to the Kenney government, debt interest costs will hit $3 billion by 2022/23.