Ontario’s Finance Minister Peter Bethlenfalvy insists the Ford government is running an “operating balance” even as the province’s debt load careens towards half a trillion dollars in 2027.

Since taking office in 2018, Premier Doug Ford has increased Ontario’s debt to $470 billion — a number that’s projected to rise to $501.7 billion by 2027, according to the government’s own projections.

The Financial Accountability Office of Ontario has said the province’s debt will reach $549.3 billion in 2029 as health care and interest on debt are expected to “exceed revenue growth.”

While the Progressive Conservatives were sharply critical of former Liberal premier Kathleen Wynne for raising the province’s debt to $350 billion in 2017, the party is now defending the figures as “good debt.”

“It’

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