Sarnia-Lambton's MPP says he's alarmed and disgusted by the auditor general's finding that the Liberal government is understating the province's deficit by billions of dollars.
In her report, Bonnie Lysyk says the government has not accurately reflected the true costs of its borrowing plan to cut hydro rates by 25%, and the way it accounts for revenues related to two teacher pension plans.
She says that means the province's projections are off by 75% in 2018-2019 and the deficit is actually $11.7-billion, not $6.7-billion.
MPP Bob Bailey says we're wasting $12-billion a year on interest charges that could be invested in healthcare, long-term care, fighting the opioid crisis and rebuilding infrastructure.
"When they were elected, the debt per person for each man, woman and child in Ontario was $11,000 back in 2003," says Bailey. "Today it's $23,000, next year it will be $24,000 -- almost $25,000 -- per person."
Premier Kathleen Wynne is dismissing the report as part of a long-standing "accounting dispute'' between her government and the auditor general.
