This year the government plans to run a $9.8 billion deficit followed by a $4.6 billion deficit next year.
ontario government spending
For the 2024/25 fiscal year, the budget projects a $6.1 billion increase in program spending.
Municipal government spending in the province has grown 2.5 times faster than general inflation and two times faster than population.
Government-sector employment in the province is up 18.5 per cent compared to only 11.7 per cent for the private sector.
The government will increase program spending by $4.2 billion in 2024/25 and $3.5 billion in 2025/26.
From 1968 to 2023, Ontario ran 48 deficits—or deficits 87 per cent of the time.
In 2017-18, Ontario government program spending was 17.3 per cent of GDP compared to 17.9 per cent this fiscal year.
By the end of this fiscal year, deficits under the Ford government will total a projected $41.7 billion over six years.