Money

Financial Accountability

A Decade of Debt

We need more accountability and transparency in Ottawa. Far too often, details of important and expensive contracts are kept hidden from councillors and by extension taxpayers.

 

Over the previous twelve years, Ottawa's debt has soared from $823 million to more than $3.1 billion - an increase of 280%! The interest payments alone on this "Decade of Debt" is more than $3.2 billion over 30 years.

 

That is $3.2 billion being paid to creditors instead of building and providing public services.

Taxpayers need an independent budget watchdog whose sole job is to scrutinize City spending and to provide expertise to Council so proper oversight can be applied to the over $5 billion in annual spending.

     Taxpayers have the right to know how their money is being spent.