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Cap-and-Trade used to artificially balance budget says FAO

November 23, 2016
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From Queen's Park

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The Financial Accountability Officer revealed today that money collected from the Wynne-Liberal's cap-and-trade scheme is another cash grab that will do little to reduce emissions, Ontario PC MPPs Lisa Thompson and Vic Fedeli stated today.

MPP Lisa Thompson

In his report, the FAO said that cash raised from cap-and-trade could "reduce the deficit in that year, and increase the deficit in future years." This trick would allow the Wynne Liberals to balance the budget in an election year, followed by larger deficits in future years.

"Earlier this year, the Financial Accountability Officer (FAO) told us that they're using the one-time money from asset sales and contingency funds to artificially balance the budget in an election. Now he's confirmed what the Ontario PC caucus has said all along - the government's cap-and-trade plan is about raising revenues, not cutting emissions," said PC Finance critic Vic Fedeli.

The FAO report also outlined the fiscal impact of four different scenarios on the deficit, and it turns out that there are a variety of methods that the Liberals could use to influence the deficit, despite their assurances that the money would be placed in a separate account, not general revenues.

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The FAO report also outlined the fiscal impact of 4 different scenarios on the deficit, and it turns out that there are a variety of methods that the Liberals could use to influence the deficit, despite their assurances that the money would be placed in a separate account, not general revenues.

The FAO report also outlined the fiscal impact of 4 different scenarios on the deficit, and it turns out that there are a variety of methods that the Liberals could use to influence the deficit, despite their assurances that the money would be placed in a separate account, not general revenues.

FAO Cap and Trade Assessment of Fiscal Impact

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Wednesday, November 23, 2016