Finance Minister Continues to Ignore Reality
August 11, 2017QUEEN’S PARK – Release of the province’s first quarter finances today shows the Wynne government is continuing its attempt to pull the wool over Ontarians’ eyes when it comes to the real state of our finances, Nipissing MPP Vic Fedeli said today.
The first quarter report completely ignores concerns raised by the Financial Accountability Officer and Auditor General about the reporting of Ontario’s finances.
“The FAO is clear – not only does he expect a deficit this year but a steady deterioration of deficits in the coming years without tax hikes or cuts to services,” said Fedeli.
“We have a structural deficit in Ontario that Kathleen Wynne and Charles Sousa are simply trying to mask with one-time revenues like the fire sale of Hydro One to try to get them past the next election.”
Fedeli also noted the first quarter report shows the Wynne government continues to thumb its nose at the Auditor General, who contests their accounting treatment for jointly-sponsored pension plans. The province would be in a deficit position otherwise according to the Legislature’s independent finance officers.
“Far be it for this government to let generally accepted accounting practices get in the way of their concocted balanced budget claim,” said Fedeli.
“They’re not fooling anyone. Under this government, life gets harder and Ontario families will continue to pay more but get less.”