MPP Arnott responds to Liberal budget

NEWS RELEASE
Ted Arnott, MPP
Wellington-Halton Hills
FOR IMMEDIATE RELEASE
May 1, 2014

MPP Arnott responds to Liberal budget

(Queen’s Park) – The May 1 provincial budget may be the last gasp of a Liberal Government
that seems to have given up on job-creating economic growth. And Wellington-Halton Hills
MPP Ted Arnott says that based on their track record, the Liberals cannot be trusted to ever
balance their budget.

“This budget is not the answer we need to encourage job creation and control overall provincial
government spending,” Mr. Arnott said.

The Ontario PC Caucus has outlined a plan to stimulate new jobs by getting spending under
control, improving opportunities in the skilled trades, reducing taxes and red tape, and stabilizing
hydro rates. The PC goal is to create a million new jobs in Ontario over the next eight years.
They have repeatedly called upon the Wynne Government to adopt it, since the Liberals have
no effective jobs plan of their own. Ontario’s unemployment rate continues to lead the country
at 7.3%.

Last month, Finance Minister Charles Sousa announced the deficit for the fiscal year 2013-14
would come in at $11.3 billion. In the new budget for the year ahead, the Government is now
projecting that shortfall will rise to $12.5 billion.

Since the Liberal Government came to office in Ontario in 2003, they have doubled the
provincial debt, increasing it from $139 billion to $289 billion.

Ontario’s net debt per capita – in effect, the amount each Ontarian owes because of years of
overspending – has gone from $11,339 in 2003 to $21,019 this year.

Interest payments on the provincial debt will go up to $11 billion this year. Servicing the debt
now represents the third highest spending item in the budget, behind only Health and Education.

The growing size of the provincial debt is an issue Mr. Arnott has been raising ever since he
was first elected to the Ontario Legislature in 1990. Over the years, he has introduced three
separate motions calling on the Government to create a plan to begin to pay down the provincial
debt.

Mr. Arnott also raised red flags about the Liberal’s promise to create a new Ontario pension
plan.

“I know there are many people who are worried about whether or not they’ve saved enough to
retire,” said Mr. Arnott. “But the Liberal proposal is not the answer. It would reduce take home
pay for many workers, cost jobs, and create yet another costly bureaucracy, duplicating the
administration of the CPP.”

“People need to look at their pay stubs and see how much is already taken off their pay cheques
from CPP contributions and other payroll deductions,” he continued. “They need to ask
themselves: Can I afford to have even more subtracted from my take home pay, and do I trust
the Liberals to look after my retirement savings?”

Mr. Arnott believes that a better solution would be to look at enhancing the CPP when we can
afford to do so and to expand voluntary Pooled Registered Pension Plans.

“There is no way I can support this tax, borrow, and spend budget,” Mr. Arnott concluded. “It is
totally irresponsible. Ontario needs a change of Government.”

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Ted Arnott, MPP
Phone: 416-325-3880
Email: ted.arnott@pc.ola.org