Ted Arnott: Fall Economic Statement Falls Flat

Kathleen Wynne’s 2017 Ontario Economic Outlook and Fiscal Review shows that the Liberal Government is running on fumes, says Wellington-Halton Hills MPP Ted Arnott.

“Today’s Fall Economic Statement was little more than a rehash of old Liberal lines that people no longer believe,” Mr. Arnott said. “They’ve ran out of gas, and with 7 months to go until the election, they’re running out of time.”

With the provincial election scheduled for June 7th next year, the Wynne Liberals are facing very low public approval ratings and are desperately trying to restore their popularity.

“On almost every issue, first and foremost, they are looking out for their own political self-interest,” Mr. Arnott continued. “Right now, they seem to care about nothing else.”

The long-term implications of recent Government decisions are being mostly ignored, Mr. Arnott maintains.

“Even though they claim to have balanced the budget, their own documents show that the net debt of the Province is expected to increase by $10 billion this year alone,” Mr. Arnott went on. “This is in addition to all the new debt that the Liberals have accumulated since they took power in 2003. They’ve more than doubled the provincial debt, and they’re leaving it to our children and grandchildren to pay.”

The Background Papers presented today in the Legislature by the Minister of Finance appear to show that the Government is planning a flurry of pre-election infrastructure announcements and promises, Mr. Arnott pointed out.

“People need to take whatever they say in the lead up to the election with a large grain of salt,” Mr. Arnott said. “They are prepared to promise literally anything to try to stay in power.”

The Ten-Year Review of Selected Financial and Economic Statistics, taken from Table 3.16 of the 2017 Ontario Economic and Fiscal Review can be accessed via the link below:

https://www.fin.gov.on.ca/en/budget/fallstatement/2017/ch3c.html#t3-16

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