The province expects a $33.1 billion deficit next year.
ontario deficit
According to the recent budget, Ontario's deficits will average 3.7 per cent of GDP over the next three years.
Government workers in Ontario receive higher wages and more generous benefits than similar workers in the private sector.
Over the next three fiscal years, Ontario’s cumulative deficit will hit a forecasted $99.7 billion.
In fiscal year 2022/23, Ontario's government debt interest costs will reach $13.9 billion.
The Ford government has said this week's budget will focus on COVID response measures.
Net debt reached $355 billion at the end of last year.
Ontario’s budget deficit will likely be the largest in provincial history.
Ontario’s net debt more than doubled in one decade, to $324 billion in 2017.
The province's deficit this year will be 4.6 per cent larger than the Ontario economy.