“The financial accountability officer (FAO) has said the Wynne government is using one-time money from asset sales and contingency funds to artificially balance the budget, and today’s Fall Economic Statement confirms they’re doubling down on this reckless strategy.“It’s completely unsustainable,” Fedeli said.
Finance critic Vic Fedeli said he believes the government will temporarily balance the budget through asset sales, such as selling more shares in Hydro One. “They will sell anything that isn’t nailed down and that’s the only way, according to the FAO, that they’re going to balance artificially, is by the one-time sale of assets,” he said.
Fedeli called the Milman Industries Inc. energy bill “a prime example” of how the Kathleen Wynne government’s failed energy policy is affecting Northern businesses and jobs.
“A firm grasp on financial matters helps us live a secure and fulfilling life. As Financial Literacy Month approaches, we all have a vested interest in helping younger Ontarians manage their finances responsibly,” Fedeli said.
“There wasn’t a dry eye in the legislature and I thank my 106 colleagues in the legislature before unanimously approving this and making this the law of the land in Ontario.”
Tory finance critic Vic Fedeli says it’s just a matter of time before interest rates jump, and the government needs to be prepared.
“For families, this means whether it’s health care or education, they’re all under siege by this government whose debts are mounting.”
“We are a province mired in waste, mismanagement and scandal. Those are the three pillars the government is anchored on right now,” Fedeli said.
MPP Vic Fedeli (Nipissing) disagreed, saying “you can’t get in behind the numbers” because they won’t lift the veil of secrecy.
“That’s where he (LeClair) needs to be, so he can find out how they justify it,” said Fedeli.
Nipissing MPP Vic Fedeli was more than pleasantly surprised to find Ontario’s budget officer released a report backing up his third edition of Focus on Finance, which finds a province struggling to stay afloat on red ink.
Nipissing MPP Vic Fedeli doesn’t buy recent projections that show 28 per cent of Ontario’s power will come from wind, solar or biofuel by 2040.
And if those projections do come about, Fedeli said Monday, “I can’t begin to imagine the cost.
“It’s pie in the sky and it’s already been blown out by the experts.”