The Doug Ford Progressive Conservatives unveiled Ontario's 2025 budget, delivering a mix of relief and concern for taxpayers. While a 5.7-cent-per-litre gas tax cut — first introduced in 2022 — now offers drivers permanent savings, the province's ballooning $429 billion debt has fiscal watchdogs sounding the alarm.

The Canadian Taxpayers Federation (CTF), in an article authored by Nicolas Gagnon, praised the gas tax cut as "practical, lasting relief" for families struggling in tough economic times. With Ontario revenues projected at $220 billion, this move could ease the burden at the pump. But the celebration stops there. Gagnon didn't hold back, slamming the Ford government's plan to borrow $14.6 billion in 2025-2026, a sharp increase from the $1.5 billion shortfall forecasted last fall. "Borrowing billions every year with no plan to pay down the debt is financially irresponsible," he warned.

The new budget allocates $5 billion to support businesses against potential U.S. tariffs, a move Ford frames as protection but critics call reckless.

With $16.2 billion — over $1 billion every month — going to interest payments on the debt, this spending risks fueling inflation while neglecting schools and hospitals. Ontario's total expenditure is set to hit $233 billion, far outpacing projected revenues. Gagnon noted this is Ford's seventh budget without any debt reduction, leaving future generations to foot the bill.

Ford's approach sidesteps practical fixes like lower taxes, reduced energy costs, or cutting red tape, and instead favours pandemic-style spending.

As Gagnon put it, "You can't build prosperity on a pile of debt."