PCs will stop bailouts, fix the economy

September 08, 2013 at 11:48 am

Baillie: Freeze power rates, lower taxes, stop wasteful spending, more jobs
DARTMOUTH, NS – Jamie Baillie’s Progressive Conservatives will end wasteful spending like corporate welfare that exploded under the NDP, starting with the elimination of the Cabinet-controlled slush fund.

“For 50 years, governments in Nova Scotia have been buying jobs through corporate bailouts, handouts and giveaways,” Baillie says. “It’s a system of economic development that no longer works – if it ever did.”

Baillie made the announcement in front of Scanwood. In 2010, Scanwood was given 4.75 million taxpayer dollars to keep jobs in Nova Scotia. The business closed and the jobs disappeared within two years.

In a 2010 press release, the former Minister of Economic Development said the loan “will help ensure a Nova Scotian, export-based company is sustainable in the long term.”

Like so many other things, the NDP got the Scanwood bailout wrong.

“It’s time to do things differently. We must stop bailing out the jobs of yesterday and focus on investing in our children and the jobs of tomorrow,” says Baillie. “The NDP gave record bailouts to large corporations rather than doing what it takes to strengthen the economy.”

Over the last four years, the NDP handed out an average of 89 million dollars a year to businesses for a total of more than 350 million dollars. During that time,2,700 full-time jobs disappeared and 7,500 Nova Scotians left the province.
Baillie, a chartered accountant and former president of Credit Union Atlantic says the NDP cherry picked winners and losers when it came to handouts while ignoring the larger problem.

“Nova Scotia’s economy is in trouble. We need a plan that works to get Nova Scotians working,” Baillie says. “Neither the Liberals nor NDP know how to manage a modern economy and get our province’s finances under control.”

Baillie says the answer is clear: lower taxes, stop wasteful spending, freeze power rates, more jobs. It’s a formula for economic success.

A PC government will balance the budget, lower the HST, freeze power rates and knock down the barriers to job creation in Nova Scotia.