More economists blast flawed NDP costing

September 21, 2015

HALIFAX, NS – A growing number of economists are panning Mulcair’s bogus costing, joining former Parliamentary Budget Officer Kevin Page, who slammed the NDP’s “Swiss cheese” costing last week.

 “It’s somewhat questionable whether the federal budget estimates are going to be realized with the economy in a technical recession for the first six months with the price of oil in April… I don’t want to sound overtly on the attack of the specific numbers that are there, but they are questionable.” (Fred O’Riordan, Ernst & Young, appearing on CTV, September 16, 2015)

 “here is what I see as the biggest weakness in this document: ***uses 2015 Budget as baseline***” (Kevin Milligan, Vancouver School of Economics, Twitter, September 16, 2015)

 “if you want to simply ignore economic events of the past 5 months, keep using the 2015 budget as baseline. I’m over here in reality.” (Kevin Milligan, Vancouver School of Economics, Twitter, September 16, 2015)

 “April Budget had *very* optimistic oil forecasts. Not turning out well, is it?” (Kevin Milligan, Vancouver School of Economics, Twitter, September 16, 2015)

 “If we really believe Budget 2015 oil price estimates, government could fund billions in infrastructure by buying oil futures.” (Mike Moffatt, Ivey Business School, Twitter, September 16, 2015)

 “Our economist says that the NDP plan relies on surpluses forecast when the price of oil was higher than it is now.” (Katie Simpson, CTV, September 16, 2015)

 “The NDP clearly wanted to target some additional spending measures. They come with some big price tags. And the reality is, from the fiscal point of view, there’s just no money in the kitty.” (Craig Alexander, C.D. Howe Institute, September 16, 2015)

 “These are some pretty serious mistakes that Thomas Mulcair has no answer for. It’s clear that Mulcair won’t be able to keep his promises because he has adopted Stephen Harper’s fiscal plan and is using outdated information,” said Liberal candidate for Halifax West, Geoff Regan. “Mulcair’s promises don’t add up; it’s all a fantasy.”  

 “Whatever Mulcair promises today in Nova Scotia, he won’t be able to pay for it, or he’ll delay any real investments for years down the road. Mulcair’s empty child care promise wouldn’t kick in for years and he’s sending the bill to the provinces,” said Mr. Regan. “Canadians have a clear choice between the Liberal plan for smart investments that will create jobs and growth, or cuts and broken promises by the NDP or Conservatives that will cost jobs and weaken our economy further.”