Independent Financial Commission Report finds previous government left $15 billion deficit

BELLEVILLE, ON - Ontario’s Government for the People will continue working to restore trust and accountability in the province’s finances following the release of the Independent Commission of Financial Inquiry’s report into the previous government’s accounting practices.

The report states that the previous government left Ontario with a $15 billion deficit.

“The Commission report reveals a culture of waste embedded at the highest levels of the previous government,” said Finance Minister Vic Fedeli. “In an election year, they pursued a reckless spree of deficit-financed spending.”

As well, the government released Public Accounts of Ontario for 2017-18 today, which show that contrary to claims of a balanced budget, Ontario actually ran a $3.7 billion deficit in 2017-18.

With the release of the Commission report, Ontario’s Government for the People takes the first step of many on the path to restore accountability and trust in government, respect taxpayers, and put Ontario’s fiscal house in order.

“The people of Ontario can count on their government to protect our province’s public finances and deliver on our promise to restore accountability and trust in government,” said Todd Smith, MPP, Bay of Quinte.

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For more information, contact:
Lacy Shunock
Constituency Assistant
(613) 962-1144
Lacy.shunock@pc.ola.org