| Legislature’s
Finance Committee Wraps Up Hearings
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During
two weeks of public hearings across the province, MPPs
on the Standing Committee on Finance and Economic Affairs
listened to a wide variety of ideas for Ontario’s spring
budget. Now committee members must turn what they heard
into constructive proposals for the Minister of Finance,
says Waterloo-Wellington MPP Ted Arnott.
“It
is our hope that having reflected upon the ideas that
we heard, we will put forward an agenda for the Government
that will enable us to support continued prosperity
and growth, and keep Ontario in the best possible position
to make the most of the opportunities that the future
will bring,” said Mr. Arnott.
A
number of local groups attended the hearings held on
February 3 in London where Mr. Arnott filled in as Chair
for much of the proceedings. Mr. Arnott is the Vice-Chair
of the Standing Committee.
“I
am very pleased that we heard directly from the Interfaith
Social Assistance Reform Coalition – based in Kitchener,
the Greater Kitchener-Waterloo Chamber of Commerce,
and Together in Education which represents the teachers
federations of Waterloo Region,” he added.
In
addition to the London stop, hearings were held at Queen’s
Park in Toronto, Sudbury, Thunder Bay and Ottawa between
January 27 and February 6.
Ontario’s
Premier, Ernie Eves, has committed to a budget before
April 1, 2003 and the Committee is obligated to submit
its written report to the Minister of Finance in advance
of the final budget preparations.
The
Committee received advice from individuals and groups
beginning with the Minister of Finance and her top officials,
and including small business advocates, banks, private
and public sector unions, health care providers, teachers’
federations, and agricultural leaders among many others.
In
London, the Greater Kitchener-Waterloo Chamber of Commerce
outlined the strong growth and performance of the local
economy, called for a new Highway 7 between Kitchener
and Guelph, and supported regional transit among other
detailed recommendations. Presentations were made by
Chair Bernie Hermsen and President Todd Letts. Mr. Letts
said the following at the hearing:
“Of
course, any good budget is built on prudent fiscal planning
-- I know this is an item that's near and dear to the
Vice-Chair's heart -- and establishing a debt reduction
plan as part of this budget is a very good first step.”
According
to the Ministry of Finance, interest on the debt takes
$8.5 billion a year out of the province’s budget and
Ontario’s net debt is approximately $112 billion. In
1997, Mr. Arnott introduced a Private Member’s Resolution
aimed at eliminating Ontario’s debt. His resolution,
which was debated and passed unanimously by the Legislature,
called for the Government to adopt a 25-year plan to
pay down the debt with five-year interim targets. In
response, the Government has acknowledged that debt
retirement is an important issue and has paid down approximately
$4.5 billion of the Provincial debt during this term
of office.
Mr.
Arnott is continuing to ask his constituents to send
their ideas for the budget in writing to his Riding
Office at 181 St. Andrew St. E., 2nd Floor, Fergus,
Ontario N1M 1P9 (or by e-mail to ted_arnott@ontla.ola.org).
He will ensure that the views put forward are brought
to the attention of the Finance Minister.
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