For immediate release:
November 2, 2005

Fall Economic Statement more trick than treat
While we are optimistic about economic growth, it is important to remember that there are clouds on the horizon – Finance Minister Dwight Duncan

Queen’s Park – One day after ghosts and goblins went door to door for treats, the McGuinty Liberals were busy with tricks in yesterday’s economic statement.

While Finance Minister Dwight Duncan painted a rosy picture of Ontario’s financial health, the reality portends the “clouds on the horizon” he referred to later in his statement.

“In the six months since the release of the budget, economic indicators continue to weaken,” said Barrett. “Gross Domestic Product, Exports, Housing Starts, Wages and Salaries are all heading in one direction – down!

“Not to mention that the deficit is forecast to grow by 50% this year – from $1.6 billion to $2.4 billion.”

In his response, Opposition Finance Critic Tim Hudak made it clear that there’s more than just “clouds on the horizon”.

“There's a perfect storm gathering,” Hudak pointed out. “Hydro rates are going through the roof; Dalton McGuinty has increased taxes substantially on working families; home heating costs are going up; gasoline costs are far higher than they've been in a long time.

“The average working family in Dalton McGuinty's Ontario is paying $2,000 more a year than before Dalton McGuinty - let alone seniors, and young people trying to get ahead - it's simply unaffordable.”

Barrett concluded that the McGuinty Liberals are ignoring signs right before their eyes.

“Imperial’s announcement to close the Aylmer and Guelph manufacturing plants is just the latest hit for Ontario,” Barrett stated. “It’s a sign of the times, that grows more dire for rural Ontario while government turns a blind eye.”

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For more information please contact MPP Toby Barrett at: 519-428-0446, 416-325-8404 or 1-800-903-8629