TORONTO, ON: The Canadian Taxpayers Federation (CTF) is reminding Ontarians to ignore the spin with the release of the 2012-13 Public Accounts of Ontario this afternoon by Finance Minister Charles Sousa.
"Minister Sousa must getting dizzy with all the spinning he is doing," said Candice Malcolm, Ontario Director of the Canadian Taxpayers Federation. "He is bragging that spending went down by 0.1 per cent last year, but doesn't mention how it's projected to rise by 4.1 per cent this year."
"The Minister also conveniently forgets to mention how much debt his government has racked up," said Malcolm. "Since the government was re-elected in 2011, every man, woman, and child in Ontario is on the hook for an additional $2,535 of provincial debt."
"One-time savings and modest reductions from their own predictions are not worth celebrating," continued Malcolm. "This government needs to walk the walk and make significant changes to balance its budget."
Just The Facts:
Ontario had the highest deficit of any provincial government in 2012-13, and overspent by $9.2 billion.
Ontario's deficit per capita in 2012-13 was $681.
According to the first quarter update for 2013-14, this year's deficit remains $11.7 billion.
The deficit will increase by 27.2 per cent this year over last year.
The 2013-14 deficit per capita will be another $866.
Every man, woman and child in the province is on the hook for an additional $2,535 of debt since the last provincial election.
Ontario spent $122.6 billion in 2012-13 and is projected to spend $127.6 billion in 2013-14. That represents a 4.1 per cent spending increase in just one year!
