FAO Economic and Budget Outlook Fall 2018

Statement from MPP Mitzie Hunter, Ontario Liberal Finance & Treasury Board Critic

TORONTO, ON – Today the Financial Accountability Office of Ontario (FAO) released their Economic and Budget Outlook for the fall of 2018. This report makes projections based on the government’s most recent fiscal document and legislation passed.

The FAO estimates a lower deficit at $12.3B, with a part of that as a result of decisions by the Ford government to cut revenue by $2.1B in 2018 -2019.

This conservative government is not being clear with Ontarians, there is no fiscal plan.  Nobody can hold them accountable because they are keeping hidden planned cuts to health, education and services Ontario families rely on.

This new figure from the FAO only reinforces that the $15B deficit figure, the same one leading to the resignation of the provincial controller, is not a fair indication of the state of the province’s finances.

The FAO affirms Ontario had strong economic gains in jobs and growth under the previous government.

This province deserves a government able to stand up and be clear about their fiscal plans for the province. This report warns of drastic reductions in program spending, leaving Ontarians to wonder where the axe will fall.

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