QUEEN’S PARK – The Ontario PCs state, “It was confirmed yesterday that Dalton McGuinty added another whopping $35 billion dollars to the provincial debt in 2009. As a result, every Ontario household has been saddled with $13,500 in Dalton’s debt since he came into office”.
John Yakabuski, the PC House leader says, “Dalton McGuinty’s massive new debt is not a recession issue, it’s a spending issue. In seven years, Dalton McGuinty has increased government spending by 70 per cent during which time the Ontario economy grew by just 7 per cent. Despite all the new spending and the mountains of new debt, Ontario families have very little to show for it”.
“Dalton McGuinty’s debt came despite his decision to raise taxes, starting with the largest single income tax increase in Ontario’s history – the McGuinty Health Tax – in his first budget. And despite new taxes, like his HST and eco tax grabs, Dalton McGuinty is on track to single-handedly double Ontario’s debt during his time in office,” continued the PC House Leader.
“Every Ontario family knows it’s irresponsible to spend money they don’t have or run up $13,500 in credit card debt. Families rightfully expect Dalton McGuinty to manage Ontario’s budget as responsibly as they manage their own,” stated Yakabuski. “Ontario families are already stretched to the limit. Under Dalton McGuinty, they are working longer and harder to pay higher taxes, higher fees, higher auto insurance premiums and higher bills. Now, in order to pay for Dalton’s debt, they will be forced to work longer and harder than ever.”
QUICK FACTS:
- · It took 23 Ontario premiers 136 years to accumulate Ontario’s first $148 billion of debt. Dalton McGuinty is on track to double that amount all by himself.
- · Dalton McGuinty increased Ontario’s debt by $35.2 billion in the 2009-10 fiscal year. Divided amongst Ontario’s population of 13 million, this works out to an increase of $2,700 per person.
- · During his time in office, Dalton McGuinty has increased Ontario’s debt by $63.4 billion. This works out to $13,500 per Ontario family.