For Immediate Release
March 25, 2008

McGuinty Switches Ontario Down the Wrong Track

Queen’s Park – The 2008 Provincial Budget has little in it that will help get Ontario’s economy back on track or save the jobs that are disappearing at an alarming rate.

“Dalton McGuinty’s fifth budget is another missed opportunity,” said Haldimand-Norfolk MPP Toby Barrett. “It’s obvious this government just doesn’t get it. Ontario is a first-rate province with everything going for it -- except a government that does the right thing.”

Barrett said that the McGuinty Liberals had unexpected revenues of over $5 billion, yet they were unable to come up with a plan to invest in our energy sector or provide real tax relief for Ontario families or businesses.

“Our province is losing ground to every province in Canada and we have a government that refuses to admit that tax cuts create jobs and spur the economy,” Barrett said. “I was hoping that this budget would eliminate the job killing capital tax – instead Ontario’s economy continues to be switched down the wrong track by a government that believes in high taxing and big-spending.”

Following are a few of the indicators that Ontario is on the wrong track:

    • Ontario has the least competitive business tax structure in all of Canada;
    • Ontario lost over 194,000 manufacturing jobs since 2004;
    • Ontario’s unemployment rate was above the national average;
    • All five major chartered banks in Canada ranked Ontario ninth of ten provinces in terms of economic growth; and
    • Since 2003, Ontario has lost a total of 71,804 people to other provinces and recorded consistently negative inter-provincial migration.

“It is disheartening that this government would rather see business owners close their doors and jobs leave Ontario than admit that it is wrong about high taxes and increasing red tape,” Barrett said. “All the while, taxpayers are suffering and our great province is losing.”

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