Uh Oh: Ontario Budget Deficit Almost Double What Kathleen Wynne Claimed

More lies and deception from the Wynne Liberals.

Kathleen Wynne and the Ontario Liberal government have been caught in yet another lie.

A new report from the Auditor General of Ontario on the Wynne government’s pre-election budget reveals that the budget deficit will be far higher than the government claimed.

Here are some key parts of the report:

“We concluded that the Pre-Election Report is not a reasonable presentation of Ontario’s finances insofar as its expense estimates are understated for two items (outlined in the bullets below), resulting in understated annual deficits. After adjusting for these items, the annual deficit would be $11.7 billion for 2018/19 (or 75% more than the reported $6.7 billion), $12.2 billion for 2019/20 (or 85% more than the reported $6.6 billion) and $12.5 billion for 2020/21 (or 92% more than the reported $6.5 billion).”

The two understated expense items are:

The government did not properly record the true financial impact of the Fair Hydro Plan’s electricity rate reduction in the Pre-Election Report.

The government recorded pension revenue from the Ontario Teachers’ Pension Plan and insufficient pension expense from the Ontario Public Service Employees’ Union Pension Plan, both of which reduce the overall pension expense. It should not have done this because it does not have the unilateral legal right to reduce its future contributions to these plans or to withdraw any surplus from these plans without first reaching a formal agreement with the plans’ other joint sponsors.”

If a private business so massively ‘cooked the books’ or misreported their finances, it could become a criminal matter. Yet, in this case justice will have to come through the ballot box.

Kathleen Wynne tried to push a big spending budget to win votes, and then tried to deceive the people about how much that budget – and it’s subsequent impact – would add to the deficit. That alone should be reason enough for Wynne to lose the next election, and that’s not even accounting for the accumulation of scandals and contempt for taxpayers shown by the Wynne Liberals.

Enough is enough.

Spencer Fernando

Photo – YouTube

Read the full auditor general report here.

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Shawn HarrisNancyWChristineTommy HawkKristofer Saseniuk Recent comment authors
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Kristofer Saseniuk
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Kristofer Saseniuk

All I want to know, is where all the money has been spent that the federal and provincial governments have sucked out of us???!

Tommy Hawk
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Short answer: She is a Liberal, leading a Liberal government, so what could one expect — the ‘old Liberal mantra appears again — lie, connive; lie, connive; lie, connive’ and on it goes.

Christine
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Christine

The case justice will not be done at the ballot. Wynne is a criminal and has to be arrested before the election. The difference is definitely not accounting errors, IT IS CALLED FRAUD. Fraud by Wynne.

NancyW
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NancyW

Kristopher, that is why we need Doug Ford for Ontario to do the audit he has promised. It would be nice to have the same thing done in Ottawa, but we are hearing of the billions the Lieberals have given away to foreign lands and the billions, paid for Corporations, and the billions for all the legal and illegal newcomers to Canada, etc.. I am sure there has been lots of other wasted money spent on the Lieberal agendas. Like always, our governments have way too much power to change laws and spend our money, while doing little for Canada… Read more »

Shawn Harris
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Shawn Harris

It would appear that Wynne has learned her accounting skills from Bernie Madoff. And if there is to be any justice at all she should be given the same type of sentence, in jail for the rest of her life. Wynne would have us all believe that this debt is for the benefit of all Ontarians. That we should applaud her for giving us such high taxes, regulations, and vanishing well paying jobs. That we should be pleased to pay the highest electricity rates in north america and suffer from energy poverty. That our children and grandchildren will be very… Read more »