The Liberal government's projected deficit of $6.7 billion for 2018-19 should actually be $11.7 billion, says Auditor General Bonnie Lysyk in her pre-election report on government finances. For the same reasons, the auditor says the Liberals are underestimating the deficits in future years:$6.6 billion deficit in 2019-20 should be $12.2 billion. NDP finance critic John Vanthof said the auditor general has pointed out what should be basic accounting principles used by the government. Lysyk also raised the issues with the accounting of the Ontario Public Service Employees Union Pension Plan and the Ontario Teachers' Pension Plan, which are jointly sponsored with the government. In 2016, the auditor general told the government it did not have a legally enforceable right to unilaterally access the assets, so they should not appear on the balance sheets.

Source: CBC News April 25, 2018 15:22 UTC