Wednesday, June 14, 2023
The Ontario government is sitting on more than $22 billion in ‘excess funds’, according to the Financial Accountability Office (FAO).
AMAPCEO has some suggestions for how to use the $18 billion of it that is unallocated:
- Undo the adverse effects of the unconstitutional wage-capping Bill 124;
- Invest in public services and programs;
- Pay down the province’s postpandemic debt.
In his ruling against Bill 124, Justice Markus Koehnen of the Ontario Superior Court of Justice cited the government’s lack of explanation as to why wage constraint was necessary when the government cut off its license plate sticker renewal Lost revenue was estimated at more than $1 billion; roughly ten times that of wage constraints.
“Remedy for Bill 124 would make up a small portion of such a massive surplus. AMAPCEO urges the government to invest in public services and those who deliver them", commented President Dave Bulmer.