Ontario's financial watchdog says the province's deficit will rise to 12.3-billion-dollars this fiscal year, a figure that's half a billion more than he predicted before the spring election.
Financial Accountability Officer Peter Weltman says policy decisions such as cancelling the cap-and-trade program and reversing several tax increases, combined with a weaker economic forecast, contributed to the change.
In his fall economic and budget outlook, Weltman says that without further policy changes, the deficit is expected to exceed 16-billion-dollars by 2022-23.
The Progressive Conservative government has said a commission of inquiry and financial review to examine government spending found the province's deficit will grow to 15 billion this year, a figure that they've since brought down to 14.5-billion-dollars.