Ontario’s debt-to-GDP ratio has climbed from 26 per cent pre-recession to 38 per cent today.
Ontario’s upcoming provincial budget will likely include a significant increase in government spending with an eye on the spring election.
The upcoming 2018 budget will send a clear signal about the Wynne government’s direction.
In 2016-17, the deficit was $0.991 billion but $6.276 billion was added to the net debt.
About 40 per cent of federal revenue comes from Ontario.
Since 2008/09, Ontario has seen its net debt increase every year by an average of $15.5 billion.
From 2008 to 2016, electricity prices in Ontario increased by 71 per cent.
Next year Ontario’s debt burden per person is projected to surpass Quebec’s.