11/5/11

McGuinty reneges on election promise. It didn't take long

Here's a surprise: Now that the election is over with, Dalton McGuinty and the Liberals are breaking their election funding promises.  And, STOP THE PRESSES, they are saying it is due to the advice they are getting from Bay Street 1 percenter Don Drummond. 


The Ontario government will limit spending increases to one per cent a year for six years, the Canadian Press reports.  That would mean that much lower program spending than the Liberals promised just weeks ago.  In year one (2012-3) program spending would fall $400 million short of the amount promised, by year two $1.5 billion.  By year six, program spending would be $5.2 billion less than promised.


This was transparently the plan for Drummond's work right from the get go.  


The Liberal funding plan already included cuts in real dollars in most departments, while others (like health care) would get less than inflationary pressures.  It remains to be seen where they will find the new cuts.  


Drummond's final report is coming in the new year. I can hardly wait. 

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