Statement from PC Economic Development, Employment & Infrastructure Critic Monte McNaughton on December Job Numbers
Posted December 8th, 2016 on Niagara At Large
Queen’s Park, Toronto – Progressive Conservative Economic Development, Employment & Infrastructure Critic Monte McNaughton today issued the following statement on December Job Numbers:
“The job numbers released today show that for the month of December, Ontario’s unemployment rate did not exceed the national average.
Ontario Conservative Party’s economic development critic Monte McNaughton
While we are hopeful that these positive job trends continue, the volatility we’ve seen in the global economy, stock and commodity markets in the past weeks has people worried. Our province was devastated by the financial downturn of 2008 and economists see echoes of that in what’s happening today.
That is why it’s vitally important that the Liberal government finally start heeding the calls of the Auditor General, the Financial Accountability Officer, and the Ontario PC Caucus to create a real economic plan for Ontario.
The most recent report by the Fraser Institute provides more evidence that the Liberals are failing as fiscal managers. As a result, the province’s massive debt is hurting our ability to compete for jobs and investment.
The report highlights that the Ontario government’s debt has grown by 91 per cent in less than 10 years — the highest rate of growth of any federal or provincial government in Canada. Meaning every man, woman, and child owes $21,000 of this debt.
Moreover, Ontario’s interest on the debt for 2015-16 is estimated at $11.3 billion. This will exceed the amount the government plans to spend on the services provided by the Ministry of Community and Social Services. It’s also similar to the amount the government has committed to infrastructure spending.
These are taxpayer dollars that could be providing key services and contributing to productivity and competitiveness if the government had a handle on its finances. Given the lack of plan this government has to balance the budget, how can we possibly trust the Wynne Liberals to effectively manage the economy of this province?
If Kathleen Wynne was serious about creating economic growth in Ontario, she should be ensuring hydro is affordable, tax rates are competitive, and that businesses can afford to operate in our province.
It’s clear that life is harder under the Wynne Liberals.”
Niagara At Large 
Quote: “Moreover, Ontario’s interest on the debt for 2015-16 is estimated at $11.3 billion. This will exceed the amount the government plans to spend on the services provided by the Ministry of Community and Social Services. It’s also similar to the amount the government has committed to infrastructure spending.” AND TO WHOM ARE WE PAYING ALL THAT F*#&@ING INTEREST, AND WHY? WHAT WOULD THE BANK OF CANADA HAVE TO SAY ABOUT THIS?
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And WHAT was the question that I raised on January 8th?
Reference: http://www.watershedsentinel.ca/content/bank-canada-lawsuit
Quote 1:-
“(T)he Toronto-based Committee on Monetary and Economic Reform (COMER)… lawsuit would require the publicly-owned Bank of Canada to return to its pre-1974 mandate and practice of lending interest-free money to federal, provincial, and municipal governments for infrastructure and healthcare spending.”
Quote 2:-
” On October 14, a Federal Court judge cleared away yet another legal roadblock thrown in the lawsuit’s path. The federal government has tried to quash the case as frivolous and “hypothetical,” but the courts keep allowing it to proceed. As Galati maintains, “The case is on solid legal and constitutional grounds.”
When asked after the October procedural hearing why Canadians should care about the case, Galati quickly responded: “Because they’re paying $30 or $40 billion a year in useless interest. Since ’74, more than a trillion to fraudsters, that’s why they should care.” (COMER says the figures are closer to $60 billion per year, and $2 trillion since 1974.)”
My recommendation at this point: the Wynne government in Ontario should support COMER’s efforts to resolve this. It would clearly be in the Ontario government’s own interests. I learned a couple of days ago that COMER may hire a PR firm to see to it that this issue gets proper public attention, but their resources are slim, and they’ve been trying to get this settled since as far back as 1986.
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