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Liberal economic update can’t be trusted, says MPP Pettapiece

November 14, 2016

(Queen’s Park) – The Liberals’ Fall Economic Statement tries to paper over the province’s financial hole, says Perth-Wellington MPP Randy Pettapiece.

“Every year, the Liberals try to paint a rosy picture of the province’s financial health,” said Pettapiece. “But no one believes them anymore, because their projections, like their promises, just can’t be trusted.”

Two weeks ago, the province’s independent Financial Accountability Officer (FAO) reported that Ontario faces a $2.6-billion deficit in 2017-18, despite the Liberals’ repeated promises to balance the books.

Finance minister Charles Sousa repeated that promise again today. However, in light of the FAO’s findings, Pettapiece believes any “balance” is purely artificial.

“They’re trying to spin the numbers to show a balanced budget in an election year,” he explained. “But then they will plunge the province right back into deficit.”

The FAO’s analysis does, indeed, show the province “would be expected to remain in deficit over the next five years.”

The Liberal government more than doubled the debt to over $300 billion, and currently runs a deficit of $5 billion. Interest on the debt costs taxpayers $1 billion every month.

“This government cannot get its spending under control,” Pettapiece stated. “Every failed policy decision made by the Liberals has made life harder and more unaffordable.”

The full text of the Fall Economic Statement can be viewed at http://www.fin.gov.on.ca/en/.

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