New Democrats will hold the line on taxes

TRACADIE-SHEILA – A New Democrat voice in the Legislature will oppose the destructive and fiscally irresponsible tax cuts promised by the Conservatives and Liberals, NDP Leader Roger Duguay announced today.

“David Alward and Shawn Graham are not being honest with the people of New Brunswick that their tax cuts will mean huge cuts to front-line services like health and education,” Mr. Duguay said. “Their tax cuts, combined with all the irresponsible spending promises they are making in this election campaign, are driving New Brunswick over the debt cliff.”

The tax cuts promised by the Liberals will add another $236 million to the annual deficit once they are fully implemented in 2013. The Conservatives are still promising to implement most of the tax cuts promised by the Liberals; Mr. Alward's tax cut will drive up the deficit by approximately $200 million.

“Neither the Conservatives nor the Liberals can credibly claim to be fiscally responsible while pursuing these reckless tax cuts,” New Democrat Finance Critic and Fredericton-Silverwood candidate Tony Myatt said.

Dr. Myatt, a University of New Brunswick economist, said “Both the Conservatives and the Liberals are claiming they will balance the budget based on growth projections that are pure fantasy. Both are already projecting real spending cuts in their platforms without being specific about what they will cut. The reality is that adding hundreds of millions to the deficit through tax cuts will inevitably lead to massive cuts that will endanger necessary services to middle-class families.”