According to forecasts, the province’s net debt will eclipse $468 billion by 2024/25.
The province's net debt has climbed from $338 billion in 2018 to more than $400 billion.
The provincial debt is forecasted to reach $360 billion this year.
Quebec has substantially reduced its debt burden in recent years.
The projected deficit will hit $9 billion in 2019-20.
Ontario’s debt burden is forecasted to increase by $48.2 billion between 2018 and 2023.
The Ford government now forecasts a $11.3 billion deficit this year.
Throughout the 1970s and ’80s, governments across the country regularly ran deficits and racked up debt.
During 10-year period, major federal transfers to Ontario rose from $10.9 billion to $20.4 billion—an increase of 87.8 per cent.