According to projections, Ontario will spend more on debt interest than on post-secondary education this fiscal year.
provincial government debt
If interest rates exceed economic growth rates, debt becomes unstable.
Other countries have built health-care systems that perform better than Canada’s at a comparable or lower cost.
In 2020/21, the provinces ran a cumulative deficit of $59.8 billion.
Alberta’s government debt burden is set to eclipse Saskatchewan and B.C.’s this year.
Ontario has run a budget deficit every year during Premier Wynne’s time in office.
Since 2007/08, combined federal and provincial government net debt has grown from $834 billion to $1.3 trillion.