TORONTO, ON: The Canadian Taxpayers Federation is calling on Ontario Premier Doug Ford to cut spending after the newly released 2025 Fall Economic Statement shows the government is still borrowing billions of dollars this year.

“It’s irresponsible for the Ford government to continue to borrow more money and pile more debt onto taxpayers,” said Noah Jarvis, CTF Ontario Director. “Ontario taxpayers can’t afford to keep having the government waste billions of dollars on debt interest payments every year."

The fall economic statement projects that the government will add $31.6 billion to the province’s debt, reaching $459 billion, by the end of the year.

The government is also wasting $16.1 billion on debt interest payments this year.

The government also increased spending by about $2.1 billion this year compared to the budget.

“The government is wasting billions of dollars per year on debt interest payments because it’s repeatedly failed to control spending and keeps borrowing more money,” said Jarvis. “Ford needs to end wasteful government spending and work to pay down Ontario’s ballooning debt."

The only bright spot in the fall economic statement is the Ford government joining the federal government in providing first-time homebuyers tax relief.