Ontario has seen its net debt increase by $126.5 billion since 2008/09.
ontario government spending
In 2012/13, Ontario spent $25 billion on education—a 50 per cent increase in only one decade.
Almost $25 billion was spent on Ontario public school education in 2012/13, $8.3 billion more than a decade earlier.
This year’s operating deficit will be “only” $5.7 billion in 2015/16, down from the $8.5 billion projected in last April’s budget.
There is very little to feel reassured about when it comes to Ontario finance minister Charles Sousa’s latest budget.
Government spending has grown approximately 47 per cent faster than the provincial economy over a 12-year period.
Ontario’s net debt is projected to climb to 40.2 per cent of the provincial economy this year.
Interest payments are Ontario’s fastest growing expense—faster than health and education spending growth
This year, Ontario is projected to run its eighth consecutive budget deficit, which will be approximately $7.5 billion.