Local MPP Rick Nicholls isn’t happy with the provincial budget, even going so far as to accuse the Wynne government of “cooking the books” a year before the next election.
“This is not a balanced budget. There is a more-than-$5-billion operational deficit that the government is hiding through cash grabs, unauthorized use of pension assets, and one-time revenue such as the fire sale of Hydro One,” the Chatham-Kent-Essex MPP said in a release.
The Wynne Government said it released a balanced budget. Nicholls, however, said Ontario’s Financial Accountability Officer has stated that the province’s net debt will increase to $350 billion by 2020. The Auditor General has expressed concerns with questionable Liberal accounting practices, he added.
The budget includes over $500 million in pension assets.
“There are some elements within this budget that I feel are positive, such as a transit tax credit for seniors, but overall this Liberal budget will grow Ontario’s debt which will make it harder for future governments to provide vital services as more and more money will be spent on interest payments further mortgaging our children’s future,” Nicholls said in a release.
The province now spends more on debt interest ($12 billion) than it does on post-secondary education ($8.4 billion) and community safety ($2.8 billion).
Ontario’s Agri-Food budget is being cut by $47 million.
