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Ontario Premier Doug Ford speaks during a press conference in Toronto on Sept. 16.Arlyn McAdorey/The Canadian Press
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.