QUEEN’S PARK – Today, MPP Jeff Yurek expressed his disappointment of Premier Wynne and her Liberal Government’s abandonment of any commitment to responsible deficit reduction in favour of their long held tax-and-spend ways.
The government’s Economic Statement – released this afternoon – did not contain any of the bold measures that the PC Party has said is necessary to get Ontario’s ballooning debt under control.
“This government seems to have a real problem with making the tough decisions necessary,” said Yurek. “Rather than committing to rolling up their sleeves and making tough calls, this government has chosen to continue to mortgage our children’s future.”
Yurek backed up his claim by pointing to a Wall Street Journal article from yesterday. The article explained how Ontario’s fiscal situation is worse than California’s. The article identified the two jurisdictions’ respective debt burdens as a key indicator. Currently, California’s debt burden sits at 50% whereas Ontario’s sits at 226%.
“This government just still doesn’t get it,” said Yurek. “The Liberals talk about job creation and investment but businesses are not going to invest in a jurisdiction with a high debt burden. It erodes confidence and increases possibility of future tax hikes.
“We need to get our fiscal house in order so investors can be assured that we can pay for the things that make Ontario an attractive investment option. It’s about confidence in Ontario’s fiscal position, confidence that this Economic Statement doesn’t seem to restore.”
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