September 21, 2018
News report: CTV News
In a shocking speech in Toronto this morning, Ontario Finance Minister Vic Fedeli said the provincial debt is $15B, a fact that was hidden from the public by the former government.
In fact, during the pre-election period this year, the Wynne government claimed it would have a “small surplus” when the reality was a deficit of more than $3B.
The Global Adjustment charge on electricity bills and the Fair Hydro Plan were “specifically designed” to hide billions in debt.
The bad practices started early on with the Green Energy Act, Fedeli said, in which Liberal insiders were given lucrative contracts for wind power projects to supply power Ontario didn’t need. The government started the process to repeal the Green Energy Act, which was supported by the NDP in 2009, yesterday.
Mr. Fedeli said that the Ford government plans to enact solid financial management.
They could start by cancelling the Romney Wind and Nation Rise wind power projects, which would represent savings of $700 million.