JUST HOW BIG IS OUR PROVINCIAL DEFICIT REALLY?

Published on April 26, 2018

As noted in a recent story in the Globe and Mail, Ontario’s Auditor-General says the Liberals have understated the province’s projected deficits by billions of dollars, casting doubt on the government’s fiscal forecast weeks ahead of a spring election.

The report found that Ontario’s deficit is actually $11.7 billion, 75 per cent larger than the Liberals claimed in their latest budget.

Bonnie Lysyk, the independently-appointed overseer of Ontario’s finances, notes that the Liberal’s pre-election report substantially understated expenses and deficits and “is not a reasonable presentation of Ontario’s finances.”

It raises questions about how much trust Ontarians can have in Kathleen Wynne’s Liberals, says Treasury Board Critic Lisa MacLeod.  “The Ontario PCs are going to make sure the people of Ontario know the whole truth. This is why Ontario PC Leader Doug Ford has committed to a full audit of the government’s books to restore responsibility, accountability, and trust in government.”