Norm Miller: the province can’t afford another credit downgrade
It’s no surprise the majority Liberals reintroduced the same budget. That’s according to Parry Sound-Muskoka MPP Norm Miller who says he’s concerned the government is going to continue to spend more than what they bring in.
The 2014 Ontario Budget outlines $130-billion funding for infrastructure over the next 10 years and $1-billion to expand transportation to the Ring of Fire. However, Miller says this budget will cause downgrades in the province’s credit rating.
The Liberals promise to eliminate the $12.5-billion deficit in three years; a promise Miller says will not be kept with this spending. Miller says the budget will increase the cost in borrowing money.
The Liberal government reintroduced the budget yesterday.