London - The Auditor General stated the government's Public Accounts released this
week did not accurately portray the annual deficit and net debt.
"This is the second year in a row that the Auditor General has refused to sign off
on the government's Public Accounts, and it comes as no surprise, said Yurek.
The Auditor General notes the deficit is understated by $1.444 billion for 2016/17
($1.831 billion in 2015/16) and the net debt is understated by $12.429 billion for
2016/17 ($10.985 billion in 2015/16).
"The Auditor General stated in her press release yesterday that Ontarians should
be able to rely on the Province's financial statement being accurately reported
however for a second year in a row the Wynne Liberal's have failed to do so" continued
Yurek. How can the people of the province trust this government when independent
officers hired to oversee our system have no faith in the government's accountability?"
The accounting practice the Liberal's have designed for the "reduction" in electricity
bills also came under question which may lead to a larger understated deficit and
net debt next year.
"It is clear from the Auditor General's findings and recent reports from the Financial
Accountability Officer that this government's sole focus is to get re-elected in
2018 and not necessarily act in the best interest of the province." Yurek concluded.