SELF-CONGRATULATORY RHETORIC, DEFICIT WON’T HELP UNEMPLOYED, STRUGGLING BUSINESSES

Sudden deficit due to incompetence, inaction or misleading numbers?

(Queen’s Park) - Ontario Progressive Conservative Party Leader John Tory today said the McGuinty Liberals failed to provide Ontarians with any real help in their Fall Economic Statement. “Dalton McGuinty should be ashamed of himself. He had an opportunity when times were good to make Ontario more competitive. What today's statement shows is that he is a poor steward of the public purse,” said Tory. “Working families and seniors struggling to get by in Ontario will get no relief from today’s update. There is not one initiative in this statement that will help a person who lost a job or help a business being crushed by high taxes and excessive red tape.” Finance Minister Dwight Duncan delivered his government’s Fall 2008 Economic Statement showing a deficit of $500 million. Just seven months ago, McGuinty Liberals March 2008 budget showed a surplus of $5.6 billion and $800 million reserve. “A month ago the same Minister boasted of reserves and contingencies, now he has a deficit. Was that due to incompetence, inaction, misleading numbers or all three?” asked Tory. Despite years of prosperity the McGuinty Liberals have also increased Ontario’s net debt by $4 billion.

“There is absolutely no good reason that Ontario should be dealing with a deficit today,” said Tory. “A deficit should be a last resort not a first choice. Instead of living high on the hog with fancy casino parties and hotel rooms, Dalton McGuinty should have been looking for ways to show some restraint, just like Ontario families are being forced to do, during tough economic times.”

In addition to reining in their out-of-control spending, Tory said that the Liberals should have used their statement to outline a real jobs training strategy to benefit the over 200,000 Ontario manufacturing employees who have lost their jobs. Ontarians need job training programs that will actually benefit people, not just meaningless PR stunts. Tory said the McGuinty Liberals have a responsibility to create an attractive environment for business and investment by creating more competitive taxes and regulations in Ontario.

“This is a made-in-Ontario deficit, it’s a direct result of the Premier’s decisions to increase his spending by 50%, hire more public sector employees than all other provinces put together, and maintain the high taxes and regulations that economic policies have driven jobs and investment out of Ontario,” said PC Finance Critic Tim Hudak. “They had a real opportunity today to show they understand what Ontarians are going through and how to help. Unfortunately they chose to keep us headed down the wrong track.” -30- For more information:

Catherine Pringle (416) 325-2202