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Vic is a life-long entrepreneur, specializing in communications. He opened his irst company in 1978 and grew the irm into a wildly-successful full service marketing company. In 1989, In 2003, Vic successfully ran for Mayor of the City of North Bay, and served two terms. Few people get an opportunity to re-shape a City, and Vic took great advantage of his opportunity while Mayor. Simply put, he and his wonderful team of Councillors restored hope and restored solvency. In 2011 Vic was elected as MPP for Nipissing. Within a month he was named Oicial Opposition Energy Critic, eventually heading up the Gas Plant Scandal Hearings. After serving two years, he was named Finance Critic. FOCUS ON FINANCE 3 , a monthly series of newsletters ofering an in-depth look into the inances of Ontario. His shocking revelations – through once-conidential internal government documents released in the Gas Plant Scandal Hearings – are what prompted the writing of the irst books. As witnessed throughout the pages of this 3rd book, the documents are still revealing starting facts about the inner workings of the government | INTO ONTARIO’S FINANCES A LOOK FOCUS ON FINANCE A LOOK INTO ONTARIO’S FINANCES VICTOR FEDELI, MPP 3 OFFICIAL OPPOSITION FINANCE CRITIC ISBN 978-0-9739509-5-3 Introduction ....................................................................................................................7 Preface .......................................................................................................................... 11 A Plan Was Hatched ................................................................................................... 15 SELLING HYDRO ONE ............................................................................................................................ 16 BUDGET 2015: TRICK OR TRANSIT ................................................................................................... 18 HYDRO ONE SALE IMPACT .................................................................................................................. 20 COVERING THEIR TRACKS .................................................................................................................... 20 MISTRUST OF THE TRILLIUM TRUST ................................................................................................ 24 THE PROSPECTUS ................................................................................................................................... 25 FINANCIAL ACCOUNTABILITY OFFICER SPEAKS OUT............................................................... 27 THE PLAN IS EXPOSED ........................................................................................................................... 28 More Alarm Bells ........................................................................................................ 31 AUDITOR GENERAL - WINTER HIGHWAY MAINTENANCE ..................................................... 32 SOCIAL ASSISTANCE MANAGEMENT SYSTEM ............................................................................ 33 TEACHER STRIKES .................................................................................................................................... 33 AUDITOR GENERAL - GOVERNMENT ADVERTISING ACT ....................................................... 34 SNAPSHOT OF JULY ................................................................................................................................ 35 S&P downgrade ........................................................................................................................................ 35 Ontario Chamber of Commerce report ............................................................................................ 37 FIAT Chrysler CEO ..................................................................................................................................... 38 Hydro One .................................................................................................................................................. 39 Auto insurance .......................................................................................................................................... 40 OMBUDSMAN’S REPORT ...................................................................................................................... 41 PUBLIC ACCOUNTS – ONTERA .......................................................................................................... 42 CROSS REPORT ......................................................................................................................................... 43 TEACHERS’ UNION DEAL ...................................................................................................................... 45 CHROMITE TAX.......................................................................................................................................... 47 FINANCIAL ACCOUNTABILITY OFFICER’S REPORT ..................................................................... 48 FALL ECONOMIC STATEMENT ........................................................................................................... 50 AUDITOR GENERAL – ANNUAL REPORT ........................................................................................ 53 ONTARIO CHAMBER OF COMMERCE REPORT ........................................................................... 62 PRE-BUDGET CONSULTATIONS ........................................................................................................ 64 SNAPSHOT OF JANUARY ....................................................................................................................... 65 2016 Budget ................................................................................................................. 67 Fun with numbers .................................................................................................................................... 70 Debt .............................................................................................................................................................. 72 Few jobs today and tomorrow ............................................................................................................ 72 Health care ins and outs ........................................................................................................................ 72 Free tuition? Look again ......................................................................................................................... 73 New Programs ............................................................................................................. 75 CAP-AND-TRADE ...................................................................................................................................... 76 ONTARIO REGISTERED PENSION PROGRAM .............................................................................. 80 Further Concerns ........................................................................................................ 89 DEBT AND DEFICIT .................................................................................................................................. 90 RING OF FIRE .............................................................................................................................................. 93 SAMSUNG DEAL ....................................................................................................................................... 96 My Final Thoughts .................................................................................................... 101 INTRODUCTION A Look into Ontario’s Finances | Introduction Welcome to the Focus on Finance series; my look into Ontario’s inances. This year’s cover tells a story on its own. Credit card references made their way into many of my speeches last year, so it seemed appropriate to feature them on the cover of this book. With eight consecutive years of billion-dollar deicits, and with interest on debt costing us almost a billion dollars a month, the government borrows money to pay of the interest on the money they already borrowed! That’s like using their VISA card to pay of their MasterCard, every month! With Ontario’s debt set to reach $308 billion, I have urged the government to start using their Debit Card, instead of their Credit Card, to pay their bills. And to stop spending money we don’t have, to pay for programs we don’t need! Every family knows that. I look forward to the day in Ontario when this cover graphic no longer makes sense! Focus on Finance, either this annual book or the monthly newsletter, is intended to shine a light on Ontario’s inances. What we’ve disclosedover the past few years, is a deliberate and disturbing plan by the government to artiicially achieve a balanced budget by 2017/18. We learned there was doubt within the government’s own Ministry of Finance. This was discovered through the 300,000 documents eventually recovered from the Gas Plant Scandal Hearings. However, the government continued to tell the public one thing, which was completely opposite of what they knew to be factual. Here is an inter- governmental, once-conidential quote retrieved from the do cuments, followed by a government statement, released only a month later. You decide whether to believe a conidential brieing document given to Cabinet – one that was never intended to be seen by the public, or a statement by the government

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