Ontario’s $300 billion in debt explained

The numbers are jaw-dropping — and they keep getting worse.

In a recent report, Financial Accountability Officer Stephen LeClair said Ontario’s net debt will reach $350 billion by 2020-21. He warned this province’s debt burden is one of the highest among Canada’s provincial governments and an interest rate hike could put its credit and “fiscal flexibility” at risk.

This province has the largest sub-national debt of any jurisdiction in the developed world.