Bracebridge, ON: Norman Miller, MPP for Parry Sound-Muskoka, says he is sad to learn that the previous government actually left a deficit of $15 billion. This figure comes from the Independent Financial Commission of Inquiry’s report into the accounting practices of the previous government which was released today.
“The Commission report reveals a culture of waste embedded at the highest levels of the previous government,” said Finance Minister Vic Fedeli. “In an election year, they pursued a reckless spree of deficit-financed spending.”
As well, the government released the Public Accounts of Ontario for 2017-18 today, which show that contrary to claims of a balanced budget, Ontario actually ran a $3.7 billion deficit in 2017-18.
“I am pleased that our government has cleaned up the accounting tricks used by the previous government to try to hide their deficits and that, unlike last year, the Auditor General gave the 2017/18 Public Accounts released today a ‘clean opinion’,” said Miller. “I have a great deal of respect for our Auditor Bonnie Lysyk and I found it very disturbing when last year she told us the Province’s Public Accounts were not a fair and accurate reflection of our finances.”
With today’s release of the Commission’s report, Ontario’s Government for the People takes the first step to restoring accountability and trust in government, respect taxpayers, and put Ontario’s fiscal house in order.
“The people of Ontario can count on their government to protect our province’s public finances and deliver on our promise to restore accountability and trust in government,” said Miller.