Ontario has released its 2025-26 Public Accounts, providing the final audited financial results for the fiscal year ending March 31, 2026.
In 2025-26, the government invested $220.9 billion across all programs, a 4.7 per cent, or $10-billion, increase in program spending over the previous fiscal year. The government recorded total revenues of $223.3 billion, down $1.6 billion, or 0.7 per cent, from 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.
“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.
Health care sector investments increased by $6.6 billion, or 7.2 per cent, compared to 2024-25. Education sector investments increased by $2.3 billion, or 6.1 per cent, and infrastructure investments increased by $1.9 billion.
“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.
The government recorded a $13-billion deficit for the fiscal year, an improvement over the $14.6-billion deficit projected in the 2025 budget, which it attributed to stronger-than-anticipated tax revenues, increased income from government business enterprises and other non-tax sources.
This marks the ninth year in a row the government has received a clean audit opinion from Ontario’s Auditor General. The 2026 Ontario Economic Outlook and Fiscal Review, also known as the Fall Economic Statement, is expected to be released on or before Nov. 15, 2026.
