Auditor General Releases Damaging Report on "Unfair" Hydro Plan
Queen's Park – "Today, the Auditor General has released her report on the "Unfair"
Hydro Plan, confirming the government is cooking their books through wrongful accounting
practices," stated MPP Jeff Yurek.
The damaging report outlines how the government knowingly created an unnecessary,
and complex financing structure to hide the true financial impact of their failed
$39.4 billion hydro scheme. This decision will leave the ratepayers of Ontario on
the hook for $4 billion in additional interest over the next 30 years.
"The fact that the Wynne government would stoop to something so low in an effort
to hide the real financial impact from voters prior to an election is absolutely
shocking," said Yurek. "They have purposely gone out of their way to create a complex
financing structure, and used an accounting method described by the Auditor General
as "wrong" to cook the books," Yurek continued.
The Report goes on to warn that if this incorrect accounting method is used it would
make the Province's budgets and future consolidated financial statements unreliable.
The Auditor General has stated, "this cannot be taken lightly."
"This is just another example of how untrustworthy the Wynne government has become,"
said Yurek. "These shameful re-election schemes are only hurting Ontario, and resulting
in families paying more and getting less," Yurek concluded.