FAO Calls into Question Government’s Credibility…Again


August 18, 2017


FAO Calls into Question Government’s Credibility…Again

LONDON – “Once again, the Financial Accountability Officer (FAO) has called into question the credibility of the government’s finances,” stated Elgin-Middlesex-London MPP Jeff Yurek.

In his report released earlier yesterday, the FAO expressed serious concerns with the government’s overly optimistic revenue forecast, stating “there appears to be significant downside risk to the government’s forecast. As a result, the FAO expects that staying in balance after 2017-18 will require additional fiscal policy measures – that is, new revenues or lower than projected spending.”

“Once again the FAO is confirming what the Ontario PC Party has been saying all along, the government is cooking the books prior to the next election,” said Yurek.

The report goes on to say, if the government’s optimistic revenue targets are not met we could see “renewed deficits”.  Additional deficits could lead to raising taxes, cuts to healthcare, and even higher hydro rates.

“This government continues to display a pattern of behaviour, and the FAO’s report yesterday serves as another reminder” said Yurek. “The government has no interest in making life more affordable for the people of Ontario, but instead is solely focus on its re-election in 2018 — whatever the cost may be” Yurek concluded.