Ontario’s financial watchdog estimates the province will be $350 billion in debt by the 2020/21 fiscal year as the government spends heavily on infrastructure. The province currently has $300 billion of debt.
Financial Accountability Officer Stephen LeClair reported that Ontario has the highest debt of all provinces in absolute terms although it is behind Quebec in relative terms.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
More market watch: