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Ontario Posts Deficit as Health Care, Education Spending Surges
Health spending rose $6.2 billion and education spending increased $2.3 billion, helping push total program spending to $220.9 billion.
- Ontario reported a $13 billion deficit for the 2025-26 fiscal year, outperforming the $14.6 billion projection from the 2025 Budget as spending on health care, education and infrastructure climbed to historic levels.
- Program spending increased by $10 billion, driven by Health-care investments rising $6.2 billion to $97.5 billion and Education funding growing $2.3 billion to $40.1 billion.
- The province recorded $223.3 billion in total revenue, bolstered by stronger-than-expected tax revenues and government business enterprises, while debt servicing charges fell $747 million below the 2025 Budget forecast.
- Ontario Finance Minister Peter Bethlenfalvy described the results as a "balanced fiscal approach," while Treasury Board President Kinga Surma emphasized the government's efforts to build a resilient, competitive economy.
- Premier Doug Ford's government is expected to release the 2026 Ontario Economic Outlook and Fiscal Review, commonly known as the Fall Economic Statement, on or before Nov. 15.
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Ontario deficit of $13B is a little better than initially projected, province says
Ontario says its deficit is slightly better than initially projected. The province released the public accounts report for 2025-26 that shows the deficit at $13 billion, compared to the $14.6 billion projected in the 2025 budget.
·Ottawa, Canada
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Coverage Details
Total News Sources16
Leaning Left12Leaning Right0Center3Last UpdatedBias Distribution80% Left
Bias Distribution
- 80% of the sources lean Left
80% Left
L 80%
C 20%
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