Political panel delves into auditor general's findings on taxpayer-funded loans

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Guests on this week's political panel delved into the auditor general's annual report, focusing specifically on concerns that the province is still not doing enough to protect taxpayers from big loans going bad.

Auditor General Kim MacPherson released volumes two and three of her annual report on Tuesday.

Among other things, the report discussed taxpayer-funded loans from OpportunitiesNew Brunswick.

In her report MacPherson said she was "deeply concerned" that the provincehasn't adopted some recommendations made to protect taxpayers in the wake ofthe Atcon controversy.

Atcon wasa Miramichi company that went bankrupt in 2010 and cost the province $70 million in lost loans and guarantees.

Progressive Conservative education minister Dominic Cardy agreedthat changes need to be made to ONB's operating model but first he wants to know where the money's gone.

"I'm still waiting as a cabinet minister, a year in, for the report from ONB on the return on investment of all of the government transfers of money through ONB," said Cardy.

"I've been told multiple times it's coming and it's coming and it's coming, but I think Christmas is going to come a lot faster than that report."

Liberal MLA Benoit Bourque said previous Liberal governments did their part to make ONB more accountable and now it's the Progressive Conservatives'turn.

"It is important to state that at least under our government, three-quarters of these recommendations have been implemented and the onus is now to the current government to make sure that the rest is done," said Bourque.

In addition to ONB, the political panel discussedthe auditor general's recommendations on group homes and accountability for university funding.

Cardy and Bourque were joined by Green Party Leader David Coon and People's Alliance Leader Kris Austin.