The province announced yesterday it is writing off $10.2 million in bad debt.

The unpaid debts were deemed uncollectible or not worth the expense of hunting down.

The biggest chunk came from a $5-million writedown under the Industrial Expansion Fund to “better reflect the market value of the Trenton Works facility,” according to a finance department press release.

 

Another $2.4 million in unpaid student loans was written off.

Finance Minister Graham Steele said in the press release governments writing off debt is not unusual.

"Write-offs are a normal part of doing business and this is routine accounting for the 2008-2009 fiscal year," he said "All of the decisions underlying these write-offs were made under the previous government."

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