“When expenses are understated, the perception is created that government has more money available than it actually does,” Lysyk wrote Wednesday in a scathing 27-page pre-election report to the Legislature. Lysyk calculated that the deficit forecast for next year is $12.2 billion — not the $6.6 billion Sousa predicted — and for 2020-21 it’s $12.5 billion, not $6.5 billion. Lysyk was also troubled by the accounting used in the Liberals’ Fair Hydro Plan scheme that uses borrowed money to reduce electricity rates by 25 per cent. NDP MPP John Vanthof (Timiskaming-Cochrane), whose party is promising to scrap the Fair Hydro Plan, could not say a New Democrat administration would exclude the pension assets. Wynne said Wednesday there is an “ongoing discussion” with the auditor general over the accounting “disagreement.” “I know one of the discussions is over the Fair Hydro Plan.

Source: thestar April 25, 2018 15:11 UTC