May 4, 2018 – Yet another disturbing signal that the Wynne Government’s books are a mess. This week J. David Wake, Ontario’s financial accountability officer, warned the province’s deficit will triple to $12 billion this year due to the Liberal government’s spending promises in its most recent budget.
The Financial Accountability Office (FAO) estimated Wynne promises such as free child care for preschoolers, more pharmacare and dental care will account for an extra $4 billion alone. It says over the next three years, deficits will run about $12 billion annually. “The 2018 budget introduced significant new spending without adequate new revenues to pay for them,” said J. David Wake.
It follows in the wake of the province’s Auditor General’s report about the discrepancies that need to be addressed with Ontario’s financial statements. SEE: Ontario’s Auditor General sounds alarm on Wynne’s financial books
The news also echo findings by Kim Marshall, chief financial officer of the Independent Electricity System Operator (IESO), the agency that manages the province’s electrical system and acts as an intermediary for consumers. Ms. Marshall is very concerned about Ontario’s “new hydro accounting” and that the Wynne Government is keeping “bad books” that could cost Ontarians billions. Here is the Globe and Mail article quoting Kim Marshall.
Kanata-Carleton PC candidate Dr. Merrilee Fullerton is concerned over the lack of transparency with Ontario’s financial statements. She is also concerned with the lack of respect the Wynne Government has for Ontario’s financial officers. “It is apparent from the number of officials who have now come forward, that this is a very serious matter. The provincial books are a mess. Ontarians deserve a proper accounting.”
“It is unethical to be promising “free services” to everyone for everything as Wynne and the Liberals are doing while not providing Ontarians with the costs.”
“Doug Ford and the PCs are committed to getting to the bottom of these deficit and hydro costs scandals,” and Fullerton add, “we will be accountable and transparent about the finances of the Province.”
The Ontario PCs will call a fully independent outside audit of Kathleen Wynne’s reckless spending. They will follow the money, and will release every single word and every single number to the people of Ontario. Here is Doug Ford’s announcement of the audit as recorded in the Globe and Mail.
Dr. Merrilee Fullerton is the Ontario PC candidate in the new riding of Kanata-Carleton. One of her priority concerns for residents of Kanata-Carleton is Restoring Responsible Budgets at Queen’s Park.
Dr. Merrilee Fullerton