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HomeNewsFedeli on Ontario Liberals' finance report

Fedeli on Ontario Liberals’ finance report

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The MPP for Nipissing is questioning the Ontario Liberal’s math in their quarterly financial report.  The report shows that during the first quarter, Ontario’s real Gross Domestic Product grew one percent for this year, which is better than the rest of Canada and all the G-7 countries.  However Vic Fedeli says something doesn’t add up.  Fedeli says the Conference Board of Canada says Ontario will see lower growth, the Financial Accountability Officer has concerns about the Liberals’ economic forecast and so does the Canadian Federation of Independent Business.  The Tory finance critic says considering the Liberals have been wrong numerous times in the past, he says with this latest go round, he’s ignoring their claims and going with the outside experts.  In the report, the Liberals also play up the fact they have balanced the budget which translate into better health care.  They say because the budget is balanced, the annual interest the province pays on its total debt remains at $11.6 billion.   However Fedeli says the Liberals balanced the budget by using the proceeds from the sale of Hydro One.  He adds after the Hydro One money is used up we’ll be back in a deficit and he adds even the FAO has expressed a similar concern.   The Liberals also maintain Ontario’s real GDP will increase 2.7 percent this year which is higher than the 2.4 percent they forecast earlier.

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