The majority Liberal government tabled their budget at Queen’s Park yesterday afternoon.
Lambton-Kent-Middlesex MPP Monte McNaughton said there are no substantive changes to the budget introduced on May 1.
“This budget is nothing more than a political document and does nothing for the men and women who are out of work all across Ontario,” McNaughton stated. “Ontario needs a budget that reduces the tax and red tape burden facing our small and growing businesses; a budget that gets hydro rates, government spending and debt under control and puts us on a path to balance.”
McNaughton said despite the Liberals’ commitment to balance the budget by 2017-18, the provincial deficit is actually increasing by more than a billion dollars this year to $12.5 billion, up from $11.3 billion last year. The budget also shows Ontario’s debt is increasing by $20.1 billion, while spending is increasing by $3.4 billion.
“Even with the risk of another credit downgrade and further private sector job losses, the Liberals have brought forward virtually the same document as they had previously,” said McNaughton. “If Ontario were to face further credit downgrades and the resulting increase in cost of borrowing, it would have immediate consequences for every single person all across Ontario. The government would need to cut front-line services in order to pay increased interest charges.”
Fresh from a majority victory on June 12, the Wynne Government re-introduced a ‘refreshed’ budget that, according to local Liberal riding president Mike Ferguson, will help build up Chatham-Kent and Leamington’s infrastructure, health care and education.
Wallaceburg resident Mike Ferguson, president of the Chatham-Kent-Essex Provincial Liberal riding association, said this budget is about helping average families save on energy, health care costs, auto insurance and education
“I am hopeful that our PC opposition MPPs will support it,” Ferguson stated. “It’s about supporting the middle class, the backbone of any strong economy, and certainly in Chatham-Kent and Leamington. Ontario now has the lowest income tax rate on the first bracket in all of Canada, plus the 30% off tuition, Healthy Homes Renovation Tax Credit for seniors, full funding of insulin pumps for children with type 1 diabetes, full-day kindergarten, expanding free dental care and raising the minimum wage all help the little guy.”
Ferguson pointed out five “key items” that support the middle class:
1. Introducing a new Ontario Retirement Pension Plan (ORPP), to help those 65% of citizens with no workplace pension at all; CPP benefits are not adequate to provide real protection for the middle class.
2. Removing the Debt Retirement Charge from residential energy bills, saving users about $70 a year. The DRC was created by Mike Harris to pay for his privatization boondoggles.
3. Lowering auto insurance premiums. Rates have dropped by 5.7% on average since August 2013, and on schedule for a 15% cut by August 2015.
4. Creating Jobs. With a competitive tax system (lower than Michigan, New York, for example), reducing energy costs for businesses, cutting red tape, and creating a new $2.5 billion Jobs & Prosperity Fund to support new and growing sectors like agri-food, so vital in Chatham-Kent and Leamington.
5. Investing in Infrastructure, including $130 billion on roads, transit, bridges and highways all across Ontario over the next 10 years, including $14 billion for areas outside the GTA.
McNaughton said economist Jack Mintz has calculated a 1 per cent increase in interest rates will add as much as $3 billion annually to our costs which will take money away from health care and education.
“This budget continues to take Ontario down the wrong path,” McNaughton stated. “I couldn’t support the budget when it was originally presented in May and I cannot support it now.”
