Ontario deficit in 2025-26 better than projected at $13 billion, 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.
The province ran a $1.1-billion deficit in 2024-25.
The government has said the shortfall was largely due to a $10-billion increase in program expenses in health and education.
Health-care spending increased by $6.2 billion to $97.5 billion total for 2025-26 while education spending increased by $2.3 billion to $40.1 billion.
The province says it had greater-than-projected revenue from government business enterprises, such as the LCBO and Ontario Lottery and Gaming Corp.
This report by The Canadian Press was first published Sept. 24, 2026.
By Liam Casey | Copyright 2026, The Canadian Press. All rights reserved.