News Release

 Ted Chudliegh, M.P.P.

Halton Hills

(905) 878.1729

Email: ted_chudleigh@ontla.ola.org

Visit: tedchudleigh.com

Liberals' numbers change for the fifth time

September 27th., 2005

Halton - Queen's Park - According to Ted Chudleigh, Halton MPP and Opposition Critic for Economic
Development and Trade, a Liberal government announcement suggesting their annual budget deficit will be $1.6 billion instead of the $3 billion projected in May, is evidence the Liberals are in away over their heads operating the finances of Ontario.

"This is the fifth adjustment of budget numbers in two years and just another indication the McGuinty - Sorbara Liberals have no clue how much they are spending or how much revenue is being generated by their enormous tax hikes," said Mr. Chudleigh. "Corporate tax income is way up and manufacturing jobs are way down. The Liberals are sucking the blood out of the economy while at the same time their policies are strangling it. Next year much of that corporate tax revenue won't be there."

The Liberal government took a 2003-2004 fiscal shortfall of $2 billion due largely to unforeseen SARS related expenses and ballooned it into a $6 billion deficit by the end of the fiscal year. In the two years since, they have not been able to manage an accurate prediction of the province's fiscal health despite collecting
$2.4 billion in additional health taxes. Nor have they managed their promised balanced budget with their latest prediction coming in for 2008-2009 fully two years later than their previous guess.

"The Liberals' projections have proven to be fiction. Their claim that their fiscal plan is working is akin to a football team recovering a fumble and claiming their plans for a score are coming together," said Mr. Chudleigh. "So far the only score the Liberals have managed is the one on the wallets of Ontarians."

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