Islanders on the hook for years of Liberal fiscal mismanagement: Myers
Georgetown – Five years of playing fast and loose with the province’s books could end up costing Island taxpayers at least another $30 million, says Georgetown-St. Peters MLA Steven Myers.
“The last three Finance Ministers – Wes Sheridan, Wade MacLauchlan, and Allen Roach – overestimated how much they’d make off Islanders with the HST by $30 million. That bill is now coming due and Islanders will end up paying again for this government’s mismanagement. This is the kind of information that should have been shared with Islanders before the MacLauchlan government started pre-budget consultations if they were actually open and transparent,” says Myers.
The MacLauchlan government was notified in December by the federal government that five years of HST revenue estimates were off, resulting in the MacLauchlan government owing Ottawa a total $30 million in overpayments of HST revenue that now need to be refunded to the federal government. The MacLauchlan government launched pre-budget consultations on January 13 but did not reference the $30 million revenue gap.
“This is no small matter. A $30 million hole in the budget could have real impacts on vital public services for Islanders like schools, health care, and manors that are already feeling the pressure of cuts and underfunding by this tired government,” says Opposition Leader Jamie Fox.