Ontario continues to face significant fiscal challenges and the fact is spending restraint will be required in the years ahead. The downward revisions in the province’s deficit projections (totalling $2 billion between this year and next) can be put into context by considering that the province has increased its net debt by a total of approximately $160 billion between 2003/04 and 2015/16. In total, Ontario’s net debt is projected to reach $317 billion in 2017/18
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