Province strengthening investments in key services to protect Ontario families and communities
Today, Ontario released the 2025-26 Public Accounts, which provide the final audited financial results for the fiscal year ending March 31, 2026. The report outlines how the government’s plan to protect Ontario is working, attracting new investments, creating jobs and expanding health care, education, and other core services.
In 2025-26, the government invested $220.9 billion across all programs, which represents a 4.7 per cent or $10.0 billion increase in program spending over the previous fiscal year. Protecting and strengthening public services remains a key priority, which is why the government is continuing to invest historic amounts in health care, education and infrastructure.
The government has also continued its proven track record of protecting taxpayer dollars at a time of sustained economic uncertainty, including the ongoing threat of U.S. tariffs, cutting taxes and fees to reduce the burden on people and companies by $12.0 billion each and every year. Ontario remains laser-focused on safeguarding the economy by investing in services and its $236 billion plan to build infrastructure that people across the province rely on every day.
“Our government is delivering on our plan to protect Ontario by building the most competitive, resilient and self-reliant economy in the G7, making significant investments in healthcare, education, infrastructure, justice and other services families are relying on,” said Kinga Surma, President of the Treasury Board. “In the face of unwarranted U.S. tariffs and global economic uncertainty, our government will continue to make the necessary investments to grow our province’s economy and protect the hardworking people of Ontario.”
The government recorded total revenues of $223.3 billion, which is $1.6 billion or 0.7 per cent lower than the previous fiscal year largely attributable to one-time revenue recognized in 2024–25 from the tobacco legal settlement and lower revenues reported by the broader public sector. Taxation revenues were also moderated by the enactment of Bill C-15 by the federal government on March 26, 2026, which included several accelerated capital cost allowance measures. The interest and other debt servicing charges are $747 million lower than the 2025 Budget forecast due to higher-than-forecasted revenue from Ontario’s holdings of its own bond and lower borrowing costs.
The government continues to invest in key sectors to grow the economy, build infrastructure, and put more money back in people’s pockets, all while improving services Ontarians rely on.
Some notable highlights from the 2025-26 Public Accounts include:
- Health care sector investments increased by $6.6 billion, or 7.2 per cent, compared to 2024-25, to continue to connect people to the care they need, and provide support for hospitals, home care and long-term care.
- Education sector investments increased by $2.3 billion, or 6.1 per cent, including investments in child care and more funding to renew and improve schools and to support new schools and expansions.
- Infrastructure investments increased by $1.9 billion, supporting investments in hospitals, public transit, highways, broadband connectivity and housing-enabling infrastructure.
“The 2025-26 Public Accounts show we are taking a prudent, targeted approach to the province’s fiscal plan, while continuing to invest in critical public services and infrastructure,” said Peter Bethlenfalvy, Minister of Finance. “At a time of global economic uncertainty and ongoing tariff threats, our government is protecting jobs and supporting families by creating the conditions for investment, driving economic growth, and building long-term prosperity for future generations.”
The government recorded a $13.0 billion deficit for the fiscal year ending March 31, 2026, an improvement compared to the projection of $14.6 billion in the 2025 Budget. This is a result of a responsible fiscal approach and solid financial discipline, including stronger-than-anticipated tax revenues, increased income from government business enterprises and other non-tax sources.
As part of its continued commitment to regular and transparent financial updates, the government will release the 2026 Ontario Economic Outlook and Fiscal Review, also referred to as the Fall Economic Statement, on or before November 15, 2026.
Quick Facts
- This is the ninth year in a row that the government has received a clean audit opinion from Ontario’s Auditor General.
- In 2024, Ontario’s credit rating was upgraded to AA- by S&P and to AA by Morningstar DBRS.
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