GOVERNMENT ASSET FIRE SALE USED TO ARTIFICALLY BALANCE THE BUDGET: FEDELI

QUEEN’S PARK – The sale of the LCBO head office lands is further evidence of the government using temporary measures to artificially balance the budget, Nipissing MPP and Ontario’s Finance Critic Vic Fedeli said today.

 

Liberal Finance Minister Charles Sousa announced today that the LCBO head office lands, which are composed of 11 acres or prime real estate in downtown Toronto, will be sold for $260M to a consortium of private developers.

“It is clear that this government is playing the same shell-game with this revenue as they did with the revenue from the sale of Hydro One,” said Fedeli.

Many groups, including the Financial Accountability Officer, have questioned the Liberal Government’s ability to sustainably balance the province’s budget beyond 2017-18.

“This reaffirms the Financial Accountability Officer’s assertion surrounding the use of one-time money to reduce the deficit, and that it will be difficult to balance after 2017-18, conveniently right after the next election,” added Fedeli.

“Regardless of this government’s temporary measures and asset fire sales, it is clear a structural deficit will remain beyond 2017-18. The people of Ontario will be left holding the bag,” concluded Fedeli.

 

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