TORONTO – 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.
