The debt in Ontario is spiraling out of control with no end in sight. That’s what Nipissing MPP Vic Fedeli stated yesterday after the latest report from the Financial Accountability Officer. The report indicated that the province’s net debt is set to rise by over $50 billion by 2020-21 to a record $350 billion and that Ontario has the highest debt burden among the major provinces, carrying $2.40 in net debt for every dollar of provincial revenue. Fedeli says this is what his party has been saying for months – the government is using one-time money from asset sales, contingency funds and tax increases to artificially balance the budget in an election year.
