Manitobans now paying $2.5 million everyday in interest on net debt: Hawranik

In times of unprecedented handouts from the federal government, Premier Gary Doer is mortgaging the future of our children and grandchildren to support his misguided spending habits, says Progressive Conservative Finance Critic Gerald Hawranik. 
“Since Gary Doer and his NDP government took power in 1999, Manitoba’s net debt has grown at an alarming rate, threatening the future financial strength and prosperity of our province,” said Hawranik, noting the net debt has increased by $56 million over 2006.  “His government has done nothing to pay  down the net debt, dragging our economy further behind and driving more than 35,000 people out of Manitoba.”
Hawranik praised Manitoba’s business community for taking a leadership role by addressing the issue of our young people leaving for other provinces.
“The Winnipeg Chamber of Commerce/Meyers Norris Penny Leadercon ‘07 theme of “Keeping Young People in Manitoba” is a step in the right direction,” he said. “This is innovative thinking – something that is completely lacking from the NDP government. I commend the Winnipeg Chamber of Commerce for working towards solutions to address the exodus of our best and brightest.”
Hawranik noted Manitobans pay nearly $2.5 million every day for interest on the net debt.
“The financial burden being left to our children and our grandchildren is irresponsible,” said Hawranik, adding that the total cost of servicing the net debt in 2007 will be $860 million dollars. “Imagine how many doctors, police officers and Crown Attorneys that could be hired with that amount of money.”
He said the NDP government treats tax dollars as though it has a credit card with no spending limit.
“There are consequences of not living within our means,” said Hawranik. “As a result of almost eight years of NDP fiscal mismanagement, young Manitobans have yet another reason to flee our province – to avoid paying the debt that the NDP government has forced upon them.”