FOR IMMEDIATE RELEASE
October 17, 2017
Auditor General Releases Damaging Report on “Unfair” Hydro Plan
Queen’s Park – “Today, the Auditor General has released her report on the “Unfair” Hydro Plan, confirming the government is cooking their books through wrongful accounting practices,” stated MPP Jeff Yurek.
The damaging report outlines how the government knowingly created an unnecessary, and complex financing structure to hide the true financial impact of their failed $39.4 billion hydro scheme. This decision will leave the ratepayers of Ontario on the hook for $4 billion in additional interest over the next 30 years.
“The fact that the Wynne government would stoop to something so low in an effort to hide the real financial impact from voters prior to an election is absolutely shocking,” said Yurek. “They have purposely gone out of their way to create a complex financing structure, and used an accounting method described by the Auditor General as “wrong” to cook the books,” Yurek continued.
The Report goes on to warn that if this incorrect accounting method is used it would make the Province’s budgets and future consolidated financial statements unreliable. The Auditor General has stated, “this cannot be taken lightly.”
“This is just another example of how untrustworthy the Wynne government has become,” said Yurek. “These shameful re-election schemes are only hurting Ontario, and resulting in families paying more and getting less,” Yurek concluded.