CTF: McGuinty is still lying to Ontario

The latest press release from the Canadian Taxpayers Federation is a scathing indictment of the Ontario Liberal government under Dalton McGuinty. Among other things, McGuinty has included increased federal transfers as part of his “on track” revenue figures, a transfer which was spent before it was even received (new healthcare funding of $824m was slated to arrive in September, yet before it even arrived the government had overspent by $610m).

The Liberals have also directed increased taxation not at reducing government debt but at new programmes and increased spending, expending money at a rate in excess of their May 18 budget. The CTF estimates that, this fiscal year alone, the Liberals could have saved the taxpayer $51m in interest alone by paying down debt rather than increasing spending.

The CTF also blames increased taxation for the slowing of the economy, noting that despite income tax increase, overall revenues are down by $45m. There are also decreases from other sources such as sales tax, gasoline tax, lottery and gaming revenues, and other consumption indicators, indicating a slowing of economic growth.

However, McGuinty has already succeeded in shrinking his popularity from the 47% that won the election to a current 37% (Ipsos-Reid, October 2nd, 2004). Therefore, it seems that the Liberals will probably tax and spend Ontario into the dirt and then make it somebody else’s problem in 2007.

Overspending overtakes Queen’s Park

The Canadian Taxpayers Federation (CTF) today responded to the 2004 Ontario Economic Outlook and Fiscal Review, presented by Finance Minister Greg Sorbara in the Legislature at Queen’s Park. According to CTF Ontario director Tasha Kheiriddin, “This economic outlook is a bleak picture. This government is a spendaholic, pure and simple – and it’s the taxpayer who’s paying the price.???