Report card · Fall 2026
Ontario
Fiscal year 2025-26. The short version first, then every figure behind it, from the government's audited public accounts.
The short version
In 2025-26, Ontario spent $236.3 billion, about $14,541 for every resident. That was 2.2% more than it planned.
It ended the year with a deficit of $13.0 billion, better than the deficit of $14.6 billion it had planned.
Its independent auditor (Auditor General of Ontario) signed off on the accounts without reservation.
The audited results came out 177 days after the year ended.
What it means per person
Ontario's totals divided by its population of 16,253,023 on October 1, 2025 (Statistics Canada). This is not a tax bill: every Canadian pays for federal and provincial or territorial government at the same time, and some of this money comes from other governments.
- Spent $14,541 per resident, on services, programs and transfers
- Collected $13,741 per resident, in taxes, transfers and other revenue
- Paid in interest $951 per resident, about 7¢ of every revenue dollar
- Net debt $27,994 per resident, what it owes, less its financial assets
Where every dollar went
Of every dollar Ontario spent in 2025-26, as the government groups its spending.
- 41¢ Health
- 18¢ Education (includes Teachers' Pension Plan expense)
- 16¢ Other Programs
- 9¢ Children's and Social Services
- 7¢ Interest and Other Debt Servicing Charges
- 9¢ Everything else
What went off plan
The areas furthest from their budget, in dollars. Going over isn't automatically bad (an emergency or a program added during the year can be the reason), and coming in under can mean delayed work.
Over budget
- Health +$6.9 billion (7.6%)
- Children's and Social Services +$1.0 billion (5.1%)
- Postsecondary Education +$1.0 billion (7.8%)
Under budget
- Other Programs −$3.7 billion (−8.8%)
- Interest and Other Debt Servicing Charges −$747 million (−4.6%)
Questions worth asking
Based only on the figures above. Put them to your MLA, MP or candidates, or to the finance department.
- Spending came in 2.2% over budget. What caused it, and has this year's budget been adjusted to match?
- Health cost $6.9 billion more than budgeted (7.6% over). What was the reason?
- Interest on debt took about 7 cents of every dollar of revenue. What is the plan for the debt over the next few years?
Every figure behind this page, exactly as published, with the page it came from.
We extracted these figures from a PDF: Public Accounts of Ontario: Annual Report and Consolidated Financial Statements 2025–2026. They are shown exactly as published, in millions of dollars, with the page each one came from. Check them against the official document .
The year in figures
Actual results against the budget printed in the same audited statements. Amounts in millions of dollars. Debt and accumulated balances are shown as positive amounts; the label says which they are.
| Item | Actual | Budget | Difference | Where we found it |
|---|---|---|---|---|
| Total revenue | 223,330 | 218,624 | +4,706 +2.2% | Actual: Page 49 (PDF 57) Budget: Page 49 (PDF 57) |
| Total expenses | 236,336 | 231,234 | +5,102 +2.2% | Actual: Page 49 (PDF 57) Budget: Page 49 (PDF 57) |
| Annual surplus (deficit) | −13,006 | −14,610 | +1,604 | Actual: Page 49 (PDF 57) Budget: Page 49 (PDF 57) |
| Net debt | 454,993 | 460,753 | −5,760 −1.3% | Actual: Page 50 (PDF 58) Budget: Page 51 (PDF 59) |
| Accumulated deficit | 258,017 | — | — | Actual: Page 50 (PDF 58) |
| Interest and Other Debt Servicing Charges | 15,451 | 16,198 | −747 −4.6% | Actual: Page 49 (PDF 57) Budget: Page 49 (PDF 57) |
Spending by area
Expenses by sector or function, as the government groups them, in millions of dollars. The thin line marks the budget.
Audit and release
- Auditor
- Auditor General of Ontario
- Opinion
- Unmodified (clean)
- Audited results released
- September 24, 2026
- Days after year end
- 177
Source documents
We link to the official documents rather than republishing them. We kept a copy of each, as downloaded, so these figures can be re-checked even if a link changes.
Right of reply
No response from Ontario has been published yet.
Ontario can respond to this section. We confirm every response by phone before publishing it, then publish it here in full, unedited. If you find an error, tell us through the contact form on our About page. Corrections are noted on the page; figures are never changed silently.
Figures collected and checked November 6, 2026.
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