FOR IMMEDIATE RELEASE:
July 14, 2014
QUEEN’S PARK – Haldimand-Norfolk MPP Toby Barrett believes the Ontario budget is not only leading the province down the wrong path, it’s taking it down the garden path.
Barrett pointed to the $30.2-billion discrepancy between the budget and what economist Don Drummond predicted. In his report, Drummond said if nothing changed the deficit would reach $30.2 billion in 2017-18. Premier Wynne maintains the deficit will be zero. Ontario has both the highest deficit and debt in the country.
“It’s immoral to give people false hope with a budget media have rightfully dubbed a fiscal fairy tale, only to later take away services and programs when your line of credit has dried up,” he said. “It happened to Bob Rae, and it will happen again.”
While the deficit – which is the revenue shortfall in the current fiscal year – is increasing, so too is the long-term debt. That is the most troubling because not only does it leaving a debt for future generations, but it also means interest fees will continue to grow.
“More money spent on interest means less money for health care, education and helping vulnerable people in our society,” Barrett said.
The Official Opposition isn’t alone in its concern about the deficit. Moody’s Investor Services issued a negative outlook for the province based on the budget not bringing spending under control.
Barrett, also the Opposition agriculture critic, noted the small role agriculture played in the budget.
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For more information, contact MPP Toby Barrett at 416-325-8404 or 519-428-0446