The provincial Conservatives promised on Tuesday that they had a 10 year plan to reduce the provincial debt.
They have been in office since 2003. in that time they boosted public sector spending by more than 60%. Since 2009, the Conservatives have acknowledged their spending practices are unsustainable.
To date they have done nothing to change their ways.
Here’s some of what they promised in 2003:
- Keeping real program spending constant by limiting the annual growth in spending to the anticipated growth in inflation. New needs that arise will be accommodated within this budget constraint.
- Ensuring value for money by eliminating ineffective and inefficient programs, and by setting objectives for program spending and tracking results.
…
- Reviewing financing arrangements. In 2001-02, the province spent $700 million to service its debt. We will immediately review all financing arrangements in all government departments and crown agencies to reduce interest costs. Such a review will include all debt, investments and cash management practices. We will also review the $1 billion sinking fund to determine if a portion should be used to reduce the Province's debt and reduce interest costs.
- Approximately 40% of all government expenditures goes towards salaries and employee benefits. Over the next five years, approximately 25% of the public service will be eligible for retirement. A Progressive Conservative government will use this five-year period to reduce the size of the public sector through attrition.
There really is a greater fraud than an unkept promise. It’s making promises on top of the unkept ones.
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