Mr. Speaker, the Dominion Bond Rating Service notes that Ontario's plan to balance its budget is extremely vulnerable to a recession. A 30 per cent personal income tax cut is the largest single threat to the objective of a balanced budget. Eighty-eight per cent of all extra tax revenues will be required to finance the $5 billion tax cut.
The Reform Party's "stale start" says that immediate tax cuts will help the economy. In fact, tax cuts will now cause more government cutbacks. Just look at the Harris government in Ontario. Already having cut billions, it still needs to make another $3 billion in program cuts to reach its targets. But Harris has not got a clue of what to eliminate next because his so-called plan lacked common sense to begin with.
The people of Ontario were hoodwinked by the Harris Reform-a-Tories. The people of Canada will not be hoodwinked by Manning's Tory-Reformers.