FOR IMMEDIATE RELEASE
April 27, 2017
LIBERAL BUDGET ARTIFICALLY BALANCED
QUEEN’S PARK – This afternoon the Liberal government introduced the 2017/2018 provincial budget.
“While the Wynne Liberal’s claim to have balanced the budget, a closer look at the numbers shows that the government is hiding a $5 billion operational deficit.”
“Through one-time and unusual revenue such as $1 billion in the sale of government buildings and the sell-off of Hydro One, $2 billion from their cap-and-trade cash grab, $1.5 billion in new federal money – in other words, the Trudeau Trust Fund and over $500 million in pension asset funds (which the Auditor General specifically did not authorize). The numbers just don’t add up” stated MPP Jeff Yurek (Elgin-Middlesex-London).
Ontario continues to be the largest sub-national debtor in the world, at more than $300 billion and climbing. This year’s debt is projected at $312 billion, which is 24% more than five years ago and the debt will go up another 8% in two years up to $336 billion. $12 billion will be spent servicing the debt instead of going to programs in health or education.
“Unfortunately for our riding, the Liberal government is ignoring rural Ontario. $47 million is being cut from the agricultural budget and the government will continue to allow the closure of rural schools throughout the province.” said Yurek
“Premier Wynne’s Liberal Government has already closed more schools than any other government in our province’s history.”
“While the Liberals are using this budget to prepare for the next election, they have no plan to deal with the record debt that they created in just 14 years.” concluded Yurek.
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