Newspaper article The Canadian Press

Ontario Audio 11:45 AM ET

Newspaper article The Canadian Press

Ontario Audio 11:45 AM ET

Article excerpt

Ontario Audio 11:45 AM ET

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R02 - (Ont-Pension-Assets)

TORONTO. x-15s. An expert panel has concluded in favour of the Liberal government in an accounting dispute with the auditor general. The panel's conclusion that public pension plan surpluses should be counted as assets gives the government $1.5 billion more in breathing room as it has promised to deliver a balanced budget. The auditor general said because the government couldn't unilaterally access a surplus in public pension plans it shouldn't count as an asset. But the panel disagreed, and chair Tricia O'Malley explains using an analogy of someone owning a rental property with a friend.

("..share of it.") (SOURCE:The Canadian Press)

TAG: The issue was with the accounting of the Ontario Public Service Employees Union Pension Plan and the Ontario Teachers' Pension Plan, which are jointly sponsored with the government. …

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