It’s not exactly breaking news to say the Ford government is failing Ontarians when it comes to managing the province’s finances, but a new report from the Financial Accountability Office shows just how bad things are.

Before exploring the report, let’s set the scene.

When Ford came to power in 2018, Ontario’s debt was roughly $324 billion. Government spending in former premier Kathleen Wynne’s final year in office stood at $158.5 billion and the province was running a $6.7 billion deficit.

In running to replace Wynne in 2018, Ford condemned Wynne for her poor management of the province’s books.

“The party is over with taxpayers’ money,” Ford promised, encouraging Ontarians to turn the page on 15 years of Liberal overspending and runaway deficits.

Ontarians decided to make a change and sent Ford to Queen’s Park to be a bull in a china shop and put an end to the province’s free spending ways.

Instead of ending the party with taxpayers’ money, Ford took it over. It’s like one frat house party ended and a new one, just as loud and disturbing as the first, began.

Fast forward six years later.

Ontario’s books are still in the red. The spending parade is still going on. And far from being a bull in a china shop, Ford is like a purring cat, watching the province’s finances crumble all around him without batting an eye.

Less than a year ago, Finance Minister Peter Bethlenfalvy told weary Ontario taxpayers he would finally balance the province’s books in 2024-25.

The FAO report shows the Ford government will not meet that target. And the government isn’t just one year behind schedule: Ontarians shouldn’t expect a balanced budget until 2026-27.

Worse still, next year’s deficit is now projected to be larger than this year’s. That’s right: the numbers aren’t even heading in the right direction. This year’s $3.7 billion budget deficit will transform into $6.2 billion deficit next year.

The FAO says the Ford government will spend a total of $201.6 billion in the fiscal year ending March 31. That’s $43.1 billion larger than the spending tab Wynne racked up in 2018. In six years, Ford increased spending by $25 billion more than the rate of inflation. 

This is a scathing indictment of the Ford government’s fiscal management. The same people who told Ontario taxpayers the Liberals were financially irresponsible have increased spending by an average of $4.2 billion more than the rate of inflation annually since taking office.

Let’s take a moment to go back to Wynne’s fiscal plan, released in 2018.

Wynne’s last budget projected government spending to be $182.2 billion in fiscal year 2023-24. The Ford government has overshot that target by $19.4 billion.

Some may say Wynne wouldn’t have kept to her targets and a Liberal government might have increased spending more rapidly than planned as well.

That may be true. But the same people who campaigned for office to restore the health of Ontario’s finances are making Wynne’s plans look like austerity.

How can Ontario get out of this mess?

First, the Ford government must order a top-to-bottom review of all government spending. Spending has increased by $25 billion more than the rate of inflation since 2018. There should be plenty of frills to cut back on.

Second, Ford can start getting tough with unions. Ontario government employees already enjoy a 10.9 per cent wage premium. Ford shouldn’t sign one more bargaining deal that doesn’t start to close the government employee compensation gap.

Finally, Ford can stop corporate welfare. Over the past year, Ontario has handed $30 billion in corporate welfare to two multinational auto giants, among others. That must end.

Ford must get serious. Ontarians elected a bull in a china shop. It’s time for Ford to start acting like one.