The Ontario government projects a $19.9 billion deficit this year and continued deficits until 2027-28.
The expansion of the Canada Child Benefit was financed largely by borrowing.
The Trudeau government will run a record budget deficit approaching $400 billion.
Today’s federal-provincial net debt breaks down to $39,483 of government debt for every man, woman and child in Canada.
The PBO projects in 2042 Alberta will have more debt relative to the size of its economy than Ontario.
Ontario’s debt grew by 107 per cent over 10 years.
Over a ten-year period, Canada’s general government gross debt rose from 69 per cent to 87 per cent.