Bayshore Broadcasting Corporation
News Centre

News Centre

Friday, September 21, 2018

Ontario Deficit Higher Than Expected

Grey Bruce | by Matt Hermiz  

Bruce-Grey-Owen Sound MPP Bill Walker says government will continue to look at "everything" on books

With new figures out that peg the province's deficit much higher than expected, the MPP for Bruce-Grey-Owen Sound says "everything has to be looked at" as the new Progressive Conservative government works through an audit of Ontario's finances.

Finance Minister Vic Fedeli said earlier today an independent inquiry found the previous Liberal government actually ran a $3.7-billion deficit for the 2017-18 fiscal year, not balanced books.

Fedeli went on to say this year's deficit is closer to $15-billion, more than $8-billion higher than the $6.7-billion figure the Liberals projected while in power.

Bruce-Grey-Owen Sound MPP Bill Walker slammed the previous Liberal government, saying it was a constant trend with them which is why they had to go.

"They put us in a very challenging situation in regard to the finances of our great province," Walker says. "And it just makes our challenge of coming into government that much more challenging."

Walker says the Progressive Conservative government continues to do a line-by-line review of Ontario's budget.

He says it's to early to say what the PC plan will be to address the growing public debt, but did stress the province has to stop overspending.

Opposition MPPs say the government will use the findings of the financial inquiry to make sweeping cuts.

"Everybody in our caucus is committed to providing core services," Walker says. "The Premier has said nurses will not be cut, front-line providers will not be cut."

"But we have to be honest and fair to the people of Ontario," continues the Bruce-Grey-Owen Sound MPP. "You can't just keep promising everything because we know it's going to get worse and get deeper."

Since coming to power in June, the Doug Ford government has already cancelled hundreds of renewable energy contracts, which they say will save taxpayers $790-million.

They've also introduced legislation to end the cap-and-trade program and the projects it funded, while moving to scrap the Green Energy Act.

The basic income pilot project has also been shelved and so to has the size of Toronto City Council, both in the name of savings for taxpayers.

share this story

Bayshore Broadcasting Corporation
© 2020 Bayshore Broadcasting Corporation

Web Site by Websmart Inc