Tory finance critic Vic Fedeli says Ontarians can expect more cuts and higher taxes. Fedeli says that’s the only way the Wynne Liberals can handle a projected deficit of $3.5 billion in 2018.
The Financial Accountability Officer says the Liberals have over-estimated Ontario’s growth which will create the shortfall in 2018. Fedeli isn’t surprised by the numbers because he’s been warning the Liberals for years that they’re various policies would create a financial mess.
He says the Liberals are their own worst enemies because policies like high hydro rates keep businesses out of Ontario which in turn means there’s no revenue growth. As proof that expensive power is driving business out of Ontario, Fedeli says a businessman in Southwestern Ontario built a 100 acre green house in Ohio where power is cheaper and created 100 jobs for Americans.