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Matthew Lau: Ontario’s fiscal news is bad all around

Yes, last year's deficit was lower than budgeted but the improvement was mainly due to luck and the budgeted deficit was too high by far

Last week, the Ontario government finally released its 2025-26 Public Accounts, nearly six months after its fiscal year ended on March 31. The government put a cheerful spin on its fiscal performance, but the truth is in the numbers and the news is bad all around.

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The government said its $13-billion deficit — $1.6 billion less than the $14.6-billion deficit initially budgeted — was “a result of a responsible financial approach and solid financial........

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