Economic update shows Liberals still don’t get it

NEWS RELEASE
Ted Arnott, MPP
Wellington-Halton Hills
FOR IMMEDIATE RELEASE
November 7, 2013

Economic update shows Liberals still don’t get it

(Queen’s Park) – The fall economic statement proves that Kathleen Wynne’s Liberal Government
lacks the wherewithal to address Ontario’s sluggish economic performance, says Wellington-Halton
Hills MPP Ted Arnott.

“Once again, they’ve missed an opportunity to demonstrate that they understand the economic
challenges we’re facing,” Mr. Arnott said. “And once again, they’ve failed to articulate an honest and
realistic plan to set priorities, stop wasting taxpayers’ money, and encourage the creation of new
jobs.”

Provincial government spending continues to grow, on an upward trajectory. For 2013-14, the
Liberals plan to spend $127.6 billion, up dramatically from $122.6 billion last year.

The deficit, the Government’s shortfall of spending over revenue, is now expected to be $11.7 billion
this year. Last year’s deficit was $9.2 billion.

The net debt per capita, in effect the amount that each Ontarian owes because of years of
government overspending, now stands at $20,099, up from $18,796 a year ago.

“The Minister claimed to be ‘on track’ to balance the budget by 2017-18, but in the same breath he
stated he wouldn’t be tied to ‘short term targets,’” Mr. Arnott said. “Who do they think they’re
kidding?”

Mr. Arnott noted the Minister’s statement neglected to mention the biggest waste of money in
Ontario’s political history.

“Their decisions to cancel the Oakville and Mississauga gas plants have been shown by the Auditor
General to have cost Ontario taxpayers and ratepayers $1.1 billion,” Mr. Arnott said. “This is money
that could have been spent to build hospitals, schools, roads, and other necessary infrastructure.”

The Ontario Progressive Conservative Caucus continues to encourage the Government to review
the bold ideas contained in their series of “white papers.” These white papers are also intended to
encourage public discussion and feedback.

“Day to day, our Caucus is responsible for holding the Government to account, but we’re also
seeking to be constructive by offering alternatives,” Mr. Arnott added.

The 2013 Ontario Economic Outlook and Fiscal Review, in its entirety, can be viewed at:
fin.gov.on.ca
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Ted Arnott, MPP
Phone: 416-325-3880
Email: ted.arnott@pc.ola.org