Ontario’s 2026 budget reports LCBO’s net income dropped since last year

Ontario’s spring budget shows the Liquor Control Board of Ontario’s (LCBO) net income has dropped from last year’s fiscal update.

It’s expected to be about $1.9 billion, down from last year’s projection of $2.3 billion.

The downward trend primarily reflects lower alcohol markups, increased support programs for local producers and changes in consumer preference.

A recent report from Statistics Canada found that people across the country are buying less booze, leading to a marked drop in alcohol earnings for provincial and federal governments.

The agency says the decline in alcohol earnings last year was the largest annual decrease since it began tracking the information in 2004-2005.

With files from The Canadian Press.

WATCH MORE: Ontario’s 2026 budget: Tax cuts for small businesses, failing grade from opposition