ONDP: Biggest insolvency jump in Canada shows Ontario is in trouble

QUEEN’S PARK — Ontario NDP Shadow Minister for Finance and Treasury Board, Jessica Bell; and Shadow Minister for Economic Development, Job Creation and Trade, Catherine Fife, say the rise in bankruptcies and insolvencies across Ontario is another clear warning sign that people in this province are falling behind under Ford.

“People are exhausted,” said Bell. “They’re cutting back where they need to, taking on more debt just to cover basics, and still ending up further behind at the end of the month. When will Ford wake up?”

New data from the Office of the Superintendent of Bankruptcy shows more than 37,000 Canadians filed for insolvency proposals or bankruptcy in the first three months of 2026, the highest level since 2009. Out of those numbers, Ontario saw the biggest jump in the country.

“Doug Ford can’t blame what’s going on south of the border for this one,” continued Fife. “People were already struggling long before tariffs became his excuse for everything. Hydro bills were up. Housing costs were out of control. Groceries were already unaffordable.”

“Behind these numbers are real people lying awake at night trying to figure out how they’re going to pay rent, keep their business open, or make it through another month,” said Bell. “Ontario should not feel this impossible for so many people.”