Ontario Government Understates Annual Deficit and Net Debt: Auditor General

Wind-Turbines-and-cornfield-2
Wind turbines marring rural landscape in Ontario

“The legislature and all Ontarians must be able to rely on the Province’s consolidated financial statements to fairly report the fiscal results for the year. This year they cannot do so”
-Auditor General of Ontario

What have been the costs of Ontario’s energy policies?  The Auditor General of Ontario highlights issues in the Government’s fiscal reports in its  recent news release. 

Impacts of energy policy decisions can be found within the example of ongoing discord over the build out of renewable energy projects such as wind facilities. The Government continues to face criticism over its failure to undertake cost and benefit analyses. Economic stress is being realized and demonstrated by the rapid and dramatic rises in electricity rates and the threat of even more bill spikes predicted.  Higher electrical bills remain the trend despite Government’s reduction measures recently introduced.

“Lysyk also warned that the accounting design the Government created for the electricity bill reduction under the Ontario Fair Hydro Plan Act, 2017 may lead to a larger understated deficit and net debt next year. A Special Report on this subject will be tabled in the fall. “

Energy poverty and economic impoverishment are personal threats to individuals, families and communities who are struggling to get by.  Politicians massage numbers to fit desired images they want to create and sell but at the end of the day it results in selling out the people they were elected to serve.

Independent Auditor’s Qualified Opinion

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