LIBERALS INCREASE DEFICIT FOR THIRD STRAIGHT YEARMarch 31, 2015
QUEEN’S PARK – Despite numerous promises that the Government is serious about balancing the budget the Liberal deficit has increased for three years straight. The deficit currently sits at 10.9 billion up from 9.2 billion in 2013 and $10.5 billion in 2014.
“The deficit continues to head in the wrong direction despite the Liberal Government’s pledge to balance the budget by 2017-2018,” stated MPP Michael Harris. “If the Liberals continue down this path it will have a profoundly negative impact for generations to come.”
The ballooning provincial deficit has been a cornerstone of the Liberal government. The rising deficit demonstrates their refusal to effectively manage the Province’s finances.
“It has become undeniably clear that the Liberals have no plan to balance the budget,” said MPP Harris. “The increasing deficit is not some abstract financial matter. This is going to affect the ability for real people to access government services”.
The last Auditor General report stated that the rising deficit will likely result in a reduction of essential services such as health care and education. A recent report from Moody’s also highlighted the poor state of Ontario’s finances.
“It’s really frustrating when you continually hear this Government claiming that they will deal with deficit while it continues to increase year after year,” added Harris. “Balancing the budget will take real drastic action and it is clear that this Government is not capable of this type of leadership.”