In yet another blow to Premier Kathleen Wynne’s Liberals before the June 7 election, the provincial Financial Accountability Office has echoed what Auditor General Bonnie Lysyk said last week about Wynne’s accounting practices: the numbers just don’t add up.
The Liberals claimed in their big spring pre-election budget ceremony that the provincial deficit will be $6.7 billion, to which the Financial Accountability Office has now said, wrong again.
The government watchdog, which was put in place to keep elected officials honest, says the provincial deficit, after Wynne’s pre-election goodie bag, is more like $12 billion.
FAO chief economist David West added that the current spending levels of the Wynne Liberals are unsustainable.
West also said the government’s plan eventually involves massive spending cuts in order to balance the books by 2024, but Wynne has not told us what the Liberals would cut.
The FAO confirms that Wynne’s current plan puts our financial burden on the backs of future generations to pay for this government’s mistakes, thus making them less nimble for future challenges.
WATCH ABOVE: Auditor General says Ontario deficit to be far higher than government claims
This isn’t a financial plan, it’s a shell game.
I’ve often said Wynne would have been better off not only admitting to her mistakes but correcting them, instead of continually doubling down on bad planning that has angered Ontarians.
Too late for that.