The Ontario Libertarian Party is calling for “A Return to Common Sense”

  • Posted on: 25 February 2016
  • By: Rob Brooks
Press Release

The Ontario Libertarian Party is calling for “A Return to Common Sense”.

Ontario Budget Response 2016:                                                                        February 25, 2016

- M E D I A   R E L E A S E -

Today Finance Minister Charles Sousa tabled the Ontario Budget for the 2016 -17 fiscal year. This budget is just a continuation of the status quo that plagues Ontario, driving businesses away and putting families under ever-greater stress.

All economic forecasts this year signal a weakening economy across the country. Common sense dictates that now is not the time to institute a Cap and Trade scheme of the type the Europeans have already shown to be ineffective in benefitting the environment. This will increase the cost of all economic transactions in Ontario, and as happened in Europe, increase the likelihood of corruption.

Common sense also dictates that now is not the time to institute a new payroll deduction scheme on millions of employees and their employers, even if it is for a pension plan. This is certain to damage the economy even with a one-year delay, as the government’s own research has shown.

Over the past decade Ontario has been a net exporter of our young people to other provinces, to greener pastures, to jobs. Once Ontario was the true economic engine of Canada, today it’s only by default we reclaim that title because Alberta is in a downturn.

Ontario already has the highest sub-sovereign debt of any jurisdiction in the world. This intolerable situation is a consequence of complete mismanagement, since Ontario is blessed with abundant resources and located within walking distance of the world’s greatest economy to the south.

The Ontario Libertarian Party is calling for “A Return to Common Sense” based on the following summary:

 

  • The reduction and elimination of all taxes and fees over a 20 year period with the goal to have the HST as the primary Revenue tool for the government.
  • A balancing of the books over a 20 year period, where the bulk of Ontario’s accumulated debt, a mortgage on our future, has been repaid,
  • Smarter trade, including the removal of all legislative trade barriers so that Ontario workers in all fields can compete within Ontario, Canada, North America and the global market.

Servicing the debt remains the third largest Provincial budget expense at well over $11 Billion annually. As a result Ontario residents are over-paying for both essential and non-essential services for which government is the sole provider. Interest on the debt adds over 9% more, add to that the waste, for which this government is notorious, and the cost of all government services is much more than it needs to be. This impacts all the services and hurts everyone.

Ontario Libertarian Party Leader, Allen Small says, “The accumulated Ontario government debt of $308 Billion, becomes a tax on the unborn. Every child born today is saddled with $22,000 in Ontario government debt. Thirteen years ago that number was $11,000. Is that the legacy you want to leave to your children or grandchildren? Common sense dictates that we stop living beyond our means.”

The Ontario Libertarian Party calls for the rejection of this budget and instead the adoption of a budget based on “A Return to Common Sense.”

References:
http://www.bloomberg.com/news/articles/2015-07-20/ontario-more-indebted-than-california-ignores-s-p-in-borrowing

http://www.fraserinstitute.org/studies/spending-is-the-source-of-ontarios-deficit-and-debt-problem

http://www.macleans.ca/economy/economicanalysis/ontarios-number-one-god-help-us/

The Ontario Libertarian Party has been a registered political party since 1975. We advocate individual liberty through free markets, property rights, and limited government. Contact: info@libertarian.on.ca