Financial Accountability Officer projects “significant budget deficits” and “deterioration of Ontario’s” finances
An explosive report from Ontario’s budget watchdog revealed today that the 2017 budget is anything but balanced. Financial Accountability Officer Stephen LeClair’s analysis confirms that Kathleen Wynne’s recent sham budget was cooked – with a deficit this year that will continue for years, drowning Ontario in $76B in new debt.
“We have continued to say the government’s balanced budget is a shell game, and now the independent experts confirm it. The Liberals are cooking the books before the next election,” said Ontario PC Finance Critic Vic Fedeli. “To fix the mess they’ve created, after the election the Liberals will go back to raising your taxes, cutting your health care, and we already know they’ll be hiking hydro bills.”
“Just like the Kathleen Wynne’s Unfair Hydro Plan, this budget is a sham,” added Fedeli. “Ontario families will be saddled with huge costs after the election and for decades to come. Every scheme this government comes up with is never about making life affordable in Ontario. It’s about Kathleen Wynne’s re-election in 2018.”
By the numbers:
- Debt projected to rise by $76 billion over next five years
- Debt will reach $390 billion by 2021-22
- Net debt to GDP will reach 40 per cent by 2020-21, way above government projections