TORONTO, Feb. 8, 2013 /CNW/ - The resignation of Ontario Finance
Minister Dwight Duncan offers incoming Premier Kathleen Wynne an
opportunity to put the public interest ahead of Bay Street's for the
first time in years, the president of the Ontario Public Service
Employees Union says.
"Dwight Duncan will be remembered by my members as the man who demanded
cuts to public services, jobs, and wages for working people while
doling out sacks full of cash to the richest corporations in the
country, particularly those in the financial services industry," said
OPSEU President Warren (Smokey) Thomas. "It is our hope that the next
finance minister will come to work for the 99 per cent, not the one per
cent. For a change."
Under the McGuinty Liberals, tax breaks for the financial services
industry alone (not including insurance) have amounted to at least $430
million a year from cuts to the corporate income tax rate and $740
million a year from the elimination of the Capital Tax,1 Thomas noted.
"Bay Street is enjoying more than a billion dollars a year in free money
thanks to the efforts of Minister Duncan and his predecessor," Thomas
said. "We can hardly wait to see where he lands to collect his earthly
reward," he said.
1 Source: Commission on the Reform of Ontario's Public Services (2012), Public Services for Ontarians: a Path to Sustainability and Excellence (Toronto: Queen's Printer for Ontario), p. 303. All figures in 2011
dollars. Corporate income tax reduction calculated based on changes in
the March 2012 Ontario Budget.
For further information:
Warren (Smokey) Thomas (613) 329-1931