“Vague and Uncertain” Budget Details Called Into Question
March 3, 2016QUEEN’S PARK – The Financial Accountability Officer today reiterated concerns of the Official Opposition about the credibility of the Wynne Government’s budget numbers, Nipissing MPP Vic Fedeli said today.
“Today, the Financial Accountability Officer referred to the budget as “vague and uncertain,” Fedeli said, adding the government has made the deficit appear smaller by using one-time money from asset sales, contingency reserves, and the brisk housing market – $500 million in extra sales tax revenue and $300 million more in land transfer taxes were booked as operating revenue.
“BMO Capital Markets Economics wrote in its weekly digest that planned asset sales of $5.7 billion are “one-time in nature, and don’t address any underlying structural deficit,” said Fedeli.
In addition, Bryne Purchase, Ontario’s former Chief Economist and Deputy at many ministries, recently wrote “the added revenue from cap-and-trade and the Hydro One sale help to make provincial numbers look better.”
“Today, the FAO agreed, stating ‘maintaining balanced budgets beyond 2017/18 will likely prove challenging.’ Every expert sees through what this government is doing,” Fedeli said.
“I ask the Minister – just who do you think you’re fooling with this pre-election number fudging?”
VIDEO : https://youtu.be/KL2To_BAGmM