QUEEN’S PARK – “The financial direction of the province of Ontario is still going the wrong way”, stated Ontario PC Finance Critic Vic Fedeli.
The Progressive Conservative Finance Critic’s comments come with the release of the Ontario government’s 2013-14 Public Accounts.
“They confirm the deficit continues to head upward, from $9.2 billion the previous year to $10.5 billion for the fiscal year that ended March 31. The deficit is forecast to rise even further to $12.5 billion this fiscal year,” commented Fedeli.
“The Liberal record of saying one thing and doing another continues – this is a government that says they don’t want to borrow from reserves to cover operating expenses – yet that’s exactly what they continue to do”, added Fedeli. “Kathleen Wynne has brought in two budgets, and both see an increase in the deficit.” Fedeli, notes that spending increased by almost $4 billion last year, and in 17 ministries.
“As a result, all the key metrics such as debt, debt per person, net debt-to-GDP ratio, and interest on debt all continue to rise, putting more pressure on key services like health care for seniors and education,” stated the PC Finance Critic. “Ontario’s deficit is still larger than all the other provinces and the federal government combined. That’s not something you pat yourself on the back for”.
“We simply need less spin and more honesty from our government. They say one thing but continue to do the opposite.”