The new Progressive Conservative government says it’s already begun cleaning up the financial mess left behind by the previous Liberal regime.
Finance Minister Vic Fedeli has released a fall economic update projecting the deficit will be 14.5-billion dollars this fiscal year — a reduction of 500-million dollars.
He says his government has found savings without cutting services.

“$3.2 billion in efficiencies since we were first elected and that’s without a single job being lost and we’ve been in power for just a few weeks,” he says.

The government has initiated a hiring freeze across the public service and the elimination of the offices of the environmental commissioner, the child and youth advocate and the French language commissioner.
But the government says it is taking in $2.7 billion less in revenue in the fiscal year _ including $1.5 billion attributed to the cancellation of cap and trade.
Fedeli says many will be paying no tax at all.
“1.1 million people in Ontario who earn $30,000 or less will pay no income tax,” he says.
Fedeli says people are seeing savings whether it’s on a hydro bill, a natural gas bill or paying for gas at the pump.

The government says hours of operation at Beer Store and LCBO outlets across the province will be expanded allowing them to open seven days a week until 11 p.m.

Fedeli was asked about sexual misconduct allegations claimed in a new book by former leader Patrick Brown.

“Throughout my career I’ve held myself to a high ethical standard in all my interactions with people. There’s no validity to any of the accusations. They’re false and malicious,” Fedeli says.

 

(with files from Canadian Press)

Filed under: Finance Minister Vic Fedeli