Ontario Finance Minister Vic Fedeli says local ratepayers won't see tax hikes or sevice cuts, as he works to balance the province's books.
"Well, it's clear there's a lot of hard work ahead, but the premier said the other day, he repeated himself again, "I don't believe in cuts. I believe in efficiencies,' " the minister said, with reference to Premier Doug Ford's pledge.
An independent audit of the books shows a deficit of $15 billion is projected for this fiscal year. The previous Liberal government had projected a deficit of $6.7 billion.
Still, the finance minister says the cost of living will go down in the district, while his government works to balance the books.
"The premier has talked consistently about lowering middle-class income taxes, lowering corporate income taxes, giving you relief at the pump, lowering your hydro bill by 12 per cent," he added.
Earlier today, the province's auditor general released a statement saying she had signed off on the provincial government's books for the first time in three years. Her vote of confidence comes on the heels of a report by an independent commission.
"We have one set of books finally," Fedeli noted.
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