Finance Minister Vic Fedeli will finally reveal the actual state of Ontario’s books on Nov. 15.As first disclosed by iPolitics, that’s the date Fedeli will table the fall economic statement. The treasurer confirmed it Thursday in the legislature.It will be a “mini-budget” meaning there are expected to be some tax changes.Premier Doug Ford’s Progressive Conservatives, who toppled former premier Kathleen Wynne’s Liberals in the June 7 election, have been claiming Ontario has a $15-billion deficit.But that inflated number includes $5.7 billion in Liberal election promises that the Tories do not plan to keep.As well, it is based on auditor general Bonnie Lysyk’s disputed accounting treatment that does not count $11 billion in government-sponsored public pension plans, which are worth $5 billion on the annual bottom line.Read more:Ontario’s books suggest deficit should be considerably lower than Tories’ $15B figureDoug Ford claims Liberal deficit ‘the worst political coverup in Ontario’s history’Auditor takes aim at Wynne’s government over spending, waste, lax oversightIn the Liberals March 28 budget, Wynne’s government forecast a $6.7-billion deficit for 2018-19.Using a different accounting method, Lysyk estimated in her in pre-election report that the deficit is $11.7 billion.Since taking office on June 29, the Tories maintained the shortfall is as high as $15 billion.But Ford’s independent “financial commission of inquiry,” headed by former B.C. Liberal premier Gordon Campbell, warned the new government should only adopt Lysyk’s accounting method on a “provisional basis” while negotiating with her.“It would seem reasonable that the government should be able to recognize a portion of an asset it jointly controls with another party,” Campbell’s report concluded on the joint-sponsored Ontario Public Service Employees’ Union P ...
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