Former provincial auditor Erik Peters revealed the results of his review of Ontario's finances this afternoon. It turns out that Ernie Eves' idea of a balanced budget is actually a $5.6 billion deficit. Way to go, Ernie. Peters was, uh, diplomatic though.
Peters refused to say the Tories had lied, saying instead that former finance minister Janet Ecker may not have known what he now knows when she insisted that the province was not running a deficit.Peters also had this to say:
His report urges the Liberals to consider drafting new legislation that would improve fiscal responsibility through improved transparency.That sounds like a plan."The objective would be to improve accountability through greater transparency in and quality of budgets and updates such as the quarterly Ontario Finances,"? Mr. Peters said. "This approach would be more effective in ensuring fiscal accountability than legislation that limits government's flexibility in responding to fiscal challenges."
The Liberal response is predictable. Can't blame them though. At least we know now and from a source with a good reputation for objectivity. So we can watch how McGuinty handles it and get some idea of what we're in for over the next four years.
Update: This makes me laugh.
With questions expected to swirl for months about the Tories' legacy of a deficit, the former governing party is having difficulty finding an MPP to be their finance critic.Sources say Eves pegged former finance minister Jim Flaherty to be the shadow minister, but he refused. A former Tory cabinet minister said Flaherty did not want be in the uncomfortable position of asking the Liberals questions about the province's finances.
