Ontario’s Finances Are Anyone’s Guess

QUEEN’S PARK – The Auditor-General unequivocally rejected the government’s published financial numbers in her pre-election financial report, stating that they are “not a reasonable presentation of Ontario’s finances.” Auditor-General Bonnie Lysyk revealed that Ontario’s deficit this year is actually $11.7 billion, 75 percent higher than the $6.7 billion the government just reported. The numbers only get worse, as year 3 is understated by almost 100 percent.

“There’s political spin, and there’s outright disinformation and the government is guilty of the latter” MPP McDonell stated. “After promising that they would balance the budget, according to the Auditor-General, our debt and deficit are out of control. It seems obvious now why the Ministry would not sign-off that they had released all the data to the auditor, so it may actually be worse than we know. We are elected and entrusted to govern in an open and transparent manner, and responsible to leave our children a prosperous province with a sustainable and well-managed public purse. The current government is putting our future in jeopardy as they continue to mismanage the province’s finances in a desperate attempt to cling to power, taking us further and further away from that goal. It is time for a change”.

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