I wish to thank the President of the Treasury Board, the member for Brampton South, for that kind introduction and for speaking first on the Supply Act.

It is my distinct honour to rise today to further detail the financial situation of the province of Ontario and the expenditures that the government is making through our plan to build Ontario.

I would also like to thank my colleague for detailing the spending in the crucial areas of health care and education.

Speaker, I must echo the minister’s words and sentiments when it comes to health care and education spending. It is fair to say that those expenditures will likely shape the future of the province of Ontario. However, to make those investments, the province has to be in the financial position to do so.

The top-line details of the 2022 budget might be considered dry by some, but it is necessary for members of this House to get an idea of the province’s current financial situation. Only with the latest information can we accurately paint a picture of the province’s financial circumstances. Ontario’s third-quarter finances, which were released last month, give us that information.

My colleague previously mentioned some of the challenges that must be considered when looking at any current economic data, but they do bear repeating. In the face of high inflation, rising interest rates, global geopolitical intrigue and ongoing supply chain disruptions, Ontario’s economy has remained resilient. And it is to the credit of the people of Ontario that the province’s real gross domestic product, the GDP, is estimated to have increased by 3.7% in the last year. Seen in its proper context, this number is impressive.

Speaker, as we are now three months into 2023, we know that Ontario’s economy is not immune to an expected global economic slowdown this year. It is true that reputable forecasters are bracing for an even more challenging year than was faced in 2022. That is why the government is maintaining a reasonable and realistic fiscal plan. Now is the time to double down on fiscal responsibility—that means ensuring fiscal policy that works with a strict and thoughtful monetary policy. Against this backdrop, the government has remained transparent and accountable—and releasing the 2022-23 third-quarter finances is in the service of doing just that.

It should be noted that the next economic and fiscal update, as part of the 2023 budget, will be this Thursday, March 23, 2023.

I’m happy to now get into some of the projections from the third-quarter finances, as it gives us context in terms of where we are financially today as a province.

Ontario’s 2022-23 deficit is projected to be $6.5 billion. While that is significant, it should be noted that it is $13.3 billion lower than the outlook published in the 2022 budget—and that is $6.4 billion lower than the 2022 Ontario economic outlook and fiscal review.

On the other side of the ledger, revenues in 2022-23 were projected to be $196.4 billion. That is $16.6 billion higher than the forecast in the 2022 budget and $9.6 billion higher than projected in the 2022 Ontario economic outlook and fiscal review.

Of course, it is reasonable to ask why revenues were higher than expected. The revenue forecast reflects stronger-than-expected taxation revenues, which were a direct result of higher net tax assessments for 2021 and prior years.

The people of this province should know how much money is being spent on their behalf on the government programs designed to make their lives better.

Overall program expense in 2022-23—those expenses were projected to be $188.6 billion, and that number is $3.4 billion higher than the forecast in both the 2022 budget and the 2022 Ontario economic outlook and fiscal review. These increases are due to spending related to reopening of colleges and resulting additional on-campus activity, the government commitment to support the city of Toronto to address a portion of its 2022 operating deficit, and additional funding for prevention and containment of COVID-19 at long-term-care homes. The government feels that these expenses were necessary and appropriate. As well, these expenses have been partially offset by additional third-party revenues from colleges; ministry underspending, particularly underspending for infrastructure projects; and through the drawing down of existing contingencies within the fiscal plan.

Speaker, before I discuss some of the investments associated with Ontario’s Plan to Build, I would like to put a little bow on some of these top-line budget numbers.

Interest on the province’s debt is projected to be $13.4 billion, slightly lower than the $13.5 billion forecast in last year’s budget.

Because of the lower deficit, the net debt-to-GDP ratio is projected to be 38.3% in 2022-23, 3.1% lower than the 41.4% forecast in the 2022 budget.

There is one additional point I would like to make about the overall budget within my allotted time. It is important to remember that the 2022 budget included a $1-billion reserve in 2022-2023. This was to protect the fiscal outlook against any unforeseen changes in the province’s revenue and expense forecasts. This demonstrates this government’s prudent fiscal approach. The reserve was designed to insulate the province from unforeseen expenses of any kind. It also provides additional prudence in the government’s fiscal framework. It should be noted that, if that money is not needed, the reserve is eliminated at year-end as part of the final projection for 2022-23, published in the 2023 budget.

With that context in mind, I’d like to move on to Ontario’s Plan to Build.

The first pillar of this comprehensive plan is rebuilding Ontario’s economy. It is sad but true that Ontario lost 300,000 manufacturing jobs between 2004 and 2018. That was quite a hole to dig out of, but that is what we were up against, and we remain up against that sorry legacy. To deal with this, the government has a plan to help create the environment for jobs and to build prosperity everywhere for everyone. The key to doing this will be leveraging what we already have. An example of this is seizing Ontario’s critical minerals. Our province is rich in the critical minerals that will be key to making sure that the next generation of automobiles are built right here in Ontario. The government’s plan includes up to $1 billion for legacy infrastructure such as all-season roads to the Ring of Fire, building the corridor to prosperity. Over the next three years, the government is investing nearly $107 million to help the province compete with jurisdictions in a global race to develop and own these technologies that will likely define the future of transportation.

The second pillar of Ontario’s Plan to Build is working for workers. This pillar included raising the minimum wage to $15.50 per hour as of October 2022. The government is proud to be able to institute this important increase, largely helping the most vulnerable across our province. Under this crucial pillar, the government also plans to invest $1 billion every single year in employment and training programs. These programs are to help workers all throughout Ontario to retrain and upgrade their skills. The world moves fast, and the skills one may have today might not be the ones needed for the jobs of tomorrow. That is exactly why retraining and upgrading is so important for our skilled workers. Our workforce must be agile and flexible—and the billions of dollars earmarked for this type of training is designed to do just that.

The third pillar of the plan is where the billions of dollars invested in infrastructure can be found. So many people in this province are wasting time, day after day, sitting in traffic or waiting for a train or subway. Bumper-to-bumper traffic, gridlock and transit delays are not only a nuisance, but they also cost this province billions of dollars. This must change, and this will change. We can talk about traffic until we are blue in the face, but nothing will solve the problem until we get shovels in the ground to build highways, transit and other infrastructure projects to fight gridlock, boost the economy and create jobs. To do this, the government is planning one of the most ambitious capital plans in the history of Ontario. Over the next decade, these infrastructure projects will total $159.3 billion, including $20 billion in 2022-23 alone. The government is investing $25.1 billion over the next 10 years to support highway projects across the province, including building Highway 413, building the Bradford Bypass, and enabling the widening of Highway 401 through eastern Ontario. There are many highway infrastructure projects and, frankly, there’s not enough time to mention them all today. But that is the investment we are making to get Ontario moving again. The government is also investing $61.6 billion over 10 years for public transit, including the Ontario Line here in Toronto and GO rail across the greater Golden Horseshoe and into southwestern Ontario.

The fourth pillar is something that any fiscally minded person can appreciate: keeping costs down. The government has a plan to help keep costs down by increasing housing supply, by making it less expensive to drive or take transit, and by providing direct relief on everything from child care to taxes. The government has committed to making it less expensive to drive by eliminating and refunding licence plate renewal fees for passenger vehicles, light-duty trucks, motorcycles and mopeds. The government made transit more affordable across the greater Golden Horseshoe by eliminating double fares for most local transit when using GO Transit services. The government is also working on lowering child care fees for parents by signing a $13.2-billion agreement with the federal government. I know it has been mentioned many times, but it should be noted that the government remains committed to securing an average of $10-a-day child care by September 2025. By putting more money back into the pockets of the parents of Ontario, the government is working toward a more financially secure future for all of Ontario’s families.

The last pillar of Ontario’s plan to build is a plan to stay open. It’s true that Ontario fared better than many jurisdictions during the COVID-19 pandemic, and that is owing to the resilience of the people of Ontario. It is now the government’s duty to make sure that Ontario is prepared to face any future challenges. The government is doing this by making historic investments in our hospitals, with an additional $3.3 billion in investments in 2022-23. Over the next three years, the government is also investing $3.5 billion to support the continuation of over 3,000 hospital beds put into place during the pandemic. As well, the government is investing $1.1 billion over three years to support the continuation of hundreds of new adult, pediatric and neonatal critical care beds added during COVID-19.

Speaker, the people of Ontario deserve a government that has a real plan to build. Furthermore, the people of Ontario deserve to know for sure that the money that is being spent in their names is being spent in a transparent and accountable way.

The government is proud of Ontario’s plan to build and proud of its five pillars detailed today. The plan demonstrates how we are continuing to make essential investments to support the people and the businesses of this great province.

It should be noted that this supply bill, if passed, would formalize the investments I have outlined today. And at the risk of repeating myself, it is also important to note that the Supply Act, if passed, is not about approving new spending; the Supply Act is instead about providing legislative approval for the spending to which the government has already committed.

The review of the province’s fiscal position as of the third-quarter finances and the detailed rundown of the government’s Ontario’s Plan to Build hopefully served as a reminder to all members of this House of the transparency and accountability that informs all government spending.

With that said, Speaker, I encourage all members to support this important piece of legislation.

This Conservative government talks frequently about how it’s working for the people of Ontario, yet in the last three quarters, the expenditure monitor report from the FAO indicates that the government is underspending on the people of Ontario: on their health by $1.25 billion, on their education by $844 million, on children’s and social services by $458 million and on post-secondary education by $175 million.

Speaker, the government is asking us to vote for its supply bill even after they have failed to spend what they said they would. And with a record-level contingency fund that they’ve made a cabinet secret, as I sit here today in opposition, it’s hard to think about voting for any of the good things that may be in this act. The government is refusing to adequately fund critical services that the people of Ontario rely on by refusing to pay nurses and other health care workers what they are worth. Refusing to spend to keep the people of Ontario healthy isn’t financial prudence; in fact, it’s the exact opposite.

While the government talks of record investments, they also have record contingency funds. And we may have record levels of taxpayer money being spent by this government to defend their losing battles around their unconstitutional laws in court. As the President of the Treasury Board accurately pointed out just this afternoon, every dollar they spend comes from the taxpayers of Ontario. But we don’t know if this spending is at record levels because this government has not been transparent about how much taxpayer money they have been spending to fight in court. We do know that they budgeted $30 million to fight the federal government on their carbon tax, only for the Supreme Court to uphold the federal climate policy. They made private businesses put up their political notices, and the court found that unconstitutional. Now they refuse to disclose how much they’re spending on two further appeals: hiding their ministry mandate letters, and on the continued, ill-conceived and damaging Bill 124.

Fighting to hide their mandate letters has been going on since 2018—five years of wasting Ontarians’ hard-earned tax dollars. I’ve spoken about Bill 124 many times and its damaging effects on our health care and education systems. But to add insult to injury, the government continues to waste taxpayer money—money they could be paying those health care workers—to keep fighting what the courts have called unconstitutional; to keep fighting market-interfering, wage-capping legislation that’s driven away health care workers, nurses and other public sector workers.

And while the government decides to limit health care workers and nurses’ wages to a 1% increase and decides to spend taxpayer money to fight that illegal law in court, it speaks to the priorities of the government that they decide to create a record number of parliamentary assistants, effectively giving many of their MPPs a 14% raise.

Let’s talk about transit, Speaker. This government talks about getting it done. Well, the Eglinton LRT, which goes through my riding of Don Valley West and was started under the previous Liberal government, under this government is over budget by millions of dollars. The tab is still being run up, and the government will not tell the people of Ontario when it will be completed or how much their errors have cost.

The previous Liberal government started to get the work done on the Hamilton LRT. This government spent money to cancel it, only to decide the previous Liberal government was on the right track and then decided to bring it back. Had they not cancelled the project, it would have been completed earlier and for less money.

Similarly, the Liberal government started the work on GO expansion, which would include electrifying trains, making them more energy efficient and faster. Unfortunately, this government delayed that project when they came into power, and now they boast about bringing it back. While building these transit projects is critically important, the government will not accomplish what these projects are intended to when the government does not spend the money needed to help cities operate their transit systems.

Because the member for Mississauga–Lakeshore raised it, let’s talk a little more about Highway 413, the Conservative government’s unnecessary project that they claim will save commuters 30 minutes. Data from the Ministry of Transportation, their own ministry, as reported by the Toronto Star, refutes this, and says that by using the existing 400, 401 and 407 highways, commuters could cross the GTA 16 minutes faster than they could using the proposed Highway 413 alone. Perhaps the government should tell the taxpayers of Ontario if it might be more prudent to buy back the 407 that a previous Conservative government sold off, rather than to build a new highway that does what the 407 is supposed to do.

We need a government that’s willing to provide the services that people need, that’s willing to invest in children’s education and to build an economy that works for all. The government announces long-term investments while at the same crippling our health care system in the here and now by not funding it, and this is hurting the people of Ontario and our economy.

A recent article from CBC said 50,000 young people are leaving Ontario because they see better opportunity elsewhere. Building new subdivisions in the greenbelt is not going to address the housing crisis. Paving over agricultural land will not help food affordability. Underpaying our educators and health care workers until they quit is not going to give those same 50,000 young people the education system they need so their children can have a brighter future.

Health care, education, transit, protecting the environment and helping build opportunity for a brighter future are indeed the business of government. Ontario needs a fiscally responsible government that is fully transparent about what it asks its ministries, that treats its health care workers with respect so they can do the work needed for the people of Ontario, a government that manages all parts of our economy, including implementing an affordable daycare system that works for families in Ontario. Ontario needs a government that is fully transparent about our finances instead of artificially inflating projected expenses by squirrelling away billions in contingency funds. That is why, sadly, I will be voting against this supply measure.