Government budget and revenue in Ontario, Canada: official figures
The provincial government of Ontario took in $205.5 billion of revenue in the 2024/25 fiscal year (Statistics Canada government finance statistics, reference year 2024), or $12,770 per resident; the lowest of 13 provinces and territories per resident. Revenue was $193.1 billion a year earlier.
How much does the government of Ontario spend?
Expenses of the government of Ontario came to $222.4 billion in 2024/25, $13,822 per resident (the lowest of 13 provinces and territories), against $210.0 billion in the previous year.
Source: Statistics Canada · saved copyDoes the government of Ontario have a deficit?
Revenue minus expense left the government of Ontario with a net operating deficit of $16.9 billion in 2024/25, equal to 8.2% of revenue; 4th weakest balance of 13 provinces and territories.
Source: Statistics Canada · saved copyWhere does the government of Ontario get its money?
Taxes made up 75.6% of revenue for the government of Ontario in 2024/25 ($155.4 billion), and grants from other levels of government, which include federal transfers, made up 17.4% ($35.8 billion); 3rd lowest share of 13 provinces and territories for grants.
Source: Statistics Canada · saved copyHow much income tax does Ontario collect?
Personal income tax raised $60.9 billion for the government of Ontario in 2024/25 (29.6% of revenue), and taxes on goods and services, including sales and fuel taxes, raised $55.0 billion (26.7%).
Source: Statistics Canada · saved copyHow much interest does the government of Ontario pay?
Interest on debt cost the government of Ontario $16.1 billion in 2024/25, 7.3% of its expenses; 4th highest share of 13 provinces and territories. Social benefits paid directly to people came to $21.9 billion.
Source: Statistics Canada · saved copyWhat is the debt of Ontario?
At the end of 2024/25, the government of Ontario had financial assets of $174.5 billion and liabilities of $492.0 billion, a net financial debt of $317.5 billion, or $19,733 per resident; the weakest position of 13 provinces and territories per resident.
Source: Statistics Canada · saved copyHow much has the government of Ontario borrowed?
Debt securities such as bonds and treasury bills issued by the government of Ontario stood at $445.4 billion at the end of 2024/25, $27,680 per resident, against $406.5 billion a year earlier.
Source: Statistics Canada · saved copyHow Ontario compares with other provinces
Provincial or territorial government revenue per resident, 2024/25 (2024/25)
Ontario ranks 13 of 13, highest first. Population on 1 July 2024.
| Rank | Region | Provincial or territorial government revenue per resident, 2024/25 |
|---|---|---|
| 7 | Newfoundland and Labrador | $17,242 |
| 8 | Alberta | $16,573 |
| 9 | Nova Scotia | $16,287 |
| 10 | New Brunswick | $15,887 |
| 11 | Manitoba | $14,686 |
| 12 | British Columbia | $14,071 |
| 13 | Ontario | $12,770 |
Provincial or territorial government expense per resident, 2024/25 (2024/25)
Ontario ranks 13 of 13, highest first. Population on 1 July 2024.
| Rank | Region | Provincial or territorial government expense per resident, 2024/25 |
|---|---|---|
| 7 | Newfoundland and Labrador | $17,814 |
| 8 | British Columbia | $16,395 |
| 9 | Manitoba | $15,813 |
| 10 | Nova Scotia | $15,806 |
| 11 | New Brunswick | $15,233 |
| 12 | Alberta | $15,170 |
| 13 | Ontario | $13,822 |
Net operating balance as a share of revenue, 2024/25 (2024/25)
Ontario ranks 10 of 13, highest first. Negative values are deficits.
| Rank | Region | Net operating balance as a share of revenue, 2024/25 |
|---|---|---|
| 7 | Newfoundland and Labrador | -3.3% |
| 8 | Manitoba | -7.7% |
| 9 | Prince Edward Island | -7.8% |
| 10 | Ontario | -8.2% |
| 11 | Quebec | -9.2% |
| 12 | Saskatchewan | -9.3% |
| 13 | British Columbia | -16.5% |
Net financial worth per resident, 2024/25 (negative = net debt) (2024/25)
Ontario ranks 13 of 13, highest first.
| Rank | Region | Net financial worth per resident, 2024/25 (negative = net debt) |
|---|---|---|
| 7 | Saskatchewan | $-8,460 |
| 8 | Nova Scotia | $-11,267 |
| 9 | Quebec | $-11,915 |
| 10 | Prince Edward Island | $-13,032 |
| 11 | Manitoba | $-16,986 |
| 12 | Newfoundland and Labrador | $-18,663 |
| 13 | Ontario | $-19,733 |
Interest as a share of government expense, 2024/25 (2024/25)
Ontario ranks 4 of 13, highest first.
| Rank | Region | Interest as a share of government expense, 2024/25 |
|---|---|---|
| 1 | Quebec | 10.4% |
| 2 | Newfoundland and Labrador | 10.0% |
| 3 | Manitoba | 10.0% |
| 4 | Ontario | 7.3% |
| 5 | New Brunswick | 5.8% |
| 6 | Prince Edward Island | 5.2% |
| 7 | Saskatchewan | 5.1% |
Grants from other levels of government as a share of revenue, 2024/25 (2024/25)
Ontario ranks 11 of 13, highest first.
| Rank | Region | Grants from other levels of government as a share of revenue, 2024/25 |
|---|---|---|
| 7 | Nova Scotia | 34.6% |
| 8 | Newfoundland and Labrador | 25.5% |
| 9 | Quebec | 17.9% |
| 10 | British Columbia | 17.6% |
| 11 | Ontario | 17.4% |
| 12 | Saskatchewan | 17.2% |
| 13 | Alberta | 14.3% |
More on Ontario: overview · economy and jobs · health · education and schools · poverty and living standards · Canada
Sources
- Statistics Canada: Table 10-10-0017-01: Canadian government finance statistics for the provincial and territorial governments (Web Data Service extract), read 23 October 2026 · saved copy (SHA-256 1ced6a105cfe…)
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