The Canadian Taxpayers Federation is calling on Ontario Premier Doug Ford to cut spending following today’s Financial Accountability Office report showing Ontario has the worst provincial balance sheet in Canada.

“Ford can no longer say his government is being responsible with taxpayer money when the facts show his government has the worst balance sheet in Canada,” said Noah Jarvis, CTF Ontario Director. “Ford’s out-of-control spending is only making Ontario’s debt problem worse and driving up debt interest payments on taxpayers.”

The Ontario government has the worst net financial worth in Canada as of 2024-25, at -$19,667 per-person according to the Financial Accountability Office. 

Net financial worth, the difference between financial assets and financial liabilities, is another measure of debt. 

Ontario’s net financial worth is more than two times worse than the national average of -$8,973 per-person.

The report also shows Ontario has the fourth highest per-person debt interest payments in Canada. Per-person debt interest payments have risen to $1,061 in the 2026 budget.

The Ford government continues to increase government spending and borrowing.

This year, the Ford government is increasing government spending by $5.8 billion and is borrowing $25.8 billion. 

“Ontario is falling behind the rest of Canada, but the Ford government keeps spending and borrowing,” Jarvis said. “Ford needs to fix the province’s books by cutting spending because Ontarians can’t afford even more debt.”