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TORONTO – The Progressive Conservatives say leaked cabinet documents show Ontario’s Liberal government misled the public with “fake” figures on the size of the province’s deficit.
The Tories say the documents show the Liberals knew the $24.7-billion deficit figure they announced in 2009-10 “was never a real expectation” and was a deliberate move to provide a “worst case” outcome.
PC Leader Tim Hudak says the Liberals then used a ruler to draw a straight line from that $24.7 billion figure down to zero for 2017-18, making up deficit reduction targets with no real plan to achieve them.
Hudak says it undermines investors’ confidence in Ontario to see the Liberal government playing “card tricks and using fiscal sleight of hand.”
Finance Minister Charles Sousa has already admitted he won’t be able to meet deficit reduction targets in the next couple of years, but insists the province will balance its books on schedule by 2017-18.
Sousa has also indicated the deficit for 2014-15 will be higher than last year’s $11.3 billion when he presents the provincial budget on Thursday.
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