QUEEN'S PARK – While Ontario sinks into deficit and becomes a ‘have-not’ province, the McGuinty Liberals have produced no plan to turn the province’s economy around and get Ontario off the welfare rolls of Confederation, PC Finance Critic Tim Hudak (Niagara West-Glanbrook) said today.

“For the first time in history, Ontario will receive equalization payments because of its new status as a ‘have-not’ province," said Hudak. “Instead of a job creation plan, all we get from the McGuinty government is the same outdated tax-and-spend policies that got us into this mess in the first place.”

Hudak’s remarks came after a week of more bad economic news for Ontario. On Monday, it was announced that Ontario had officially become a ‘have-not’ province and would receive $347 million in equalization payments from the federal government next year. This news comes on the heels of the McGuinty government’s Fall Economic Statement in October which saw the province announce a $500 million deficit. At the end of October, Scotiabank Economics forecast negative growth of 0.1 per cent for Ontario this year and negative 0.9 per cent next year - last in growth in all of Canada.

“The McGuinty government is sleepwalking through history. This tragically historic moment has failed to illicit a single breath of any plan to pull this province off the welfare rolls of Confederation and out of ‘have-not’ status," said Hudak. “The McGuinty government needs to draw a line here - this year and no more - and help Ontario return to its proper place as a leader in Canada."