Statement from PC Economic Development, Employment & Infrastructure Critic Monte McNaughton On February Job Numbers

Ontario PC Economic Development, Employment & Infrastructure Critic Monte McNaughton made the following statement today on February job numbers:

“Last month Ontario lost nearly 50,000 full time jobs. Additionally, we saw 18,900 young people lose jobs. That means, since February of 2015 youth employment is down over 40,000 jobs.

The private sector was hit hard, while big gains were seen in the public sector.

With the province’s debt and cost of living continuing to rise, we can’t build a strong economy on just public sector and part time jobs.

While the monthly jobs numbers can go up and down, the real job of any successful government is to manage the fundamentals in order to set the stage for real and lasting private sector job growth.

That’s not happening in Ontario today. Instead we see a government that’s increasing taxes and continuing to spend far more money than we take in.

After the recent budget, we now know that the provincial debt currently weighs in at $308 billion, and is now greater than 40% of our provincial GDP for the first time in history. In contrast, the debt was $139 billion when the Liberals came to office 13 years ago.

In fact, Ontario government’s debt has grown by 91% in less than 10 years — the highest rate of growth of any federal or provincial government in Canada.                                                                         

Ontario will pay nearly $12 billion in interest charges this year alone, to service and maintain that level of debt. That’s approximately $1 billion dollars a month in interest on the debt.

Every tax dollar that goes to pay interest on the debt is a dollar that is not available to be spent on hospitals, home care, long term care, schools, public safety, roads and transportation and environmental protection – the services we all rely on to help build our province and attract and retain the entrepreneurs and job creators that Ontario desperately needs.

Along with growing debt payments, The Wynne-Liberals Budget 2016 makes life more expensive for average Ontario families and seniors by increasing government service fees and at the same time ending popular middle class tax credits for education and active children. Even prescription fees for most seniors are going up.

Given the lack of plan this government has to balance the budget and get our debt under control, how can we possibly trust the Wynne-Liberals to effectively manage the provincial economy? How can we trust the Wynne-Liberals to get the fundamentals right?

If Kathleen Wynne was serious about creating economic growth in Ontario, she should be bringing the debt under control, ensuring hydro is affordable, that tax rates are competitive, that unnecessary red tape is reduced, and that businesses can afford to operate in our province.

It’s clear that life is harder under the Wynne-Liberals.”