Liberals’ Plan for Economic Growth

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Friday, November 27, 2015

PC Party NL

November 27, 2015


Paul Davis, Leader of the Progressive Conservative Party of Newfoundland and Labrador, today questioned the Liberals’ proposed plan to grow the Province’s economy by $2 billion next year, excluding any oil and gas or government revenues. In the lobby of Memorial University’s Bruneau Centre for Research and Innovation in St. John’s this morning, Davis said that the Liberal platform actually contains no plan for economic diversification.


Liberal Party Leader Dwight Ball claims that, if elected, his administration will make a one-time investment of $8 million in 2016 which will produce a return of $78.9 million in 2017. Furthermore, Ball is promising a total return of $360 million over the next four years – that constitutes a 10,000 percent return on investment.


“Now, we all know why Mr. Ball kept his redbook a secret until the last week of the election campaign. This kind of return simply defies logic. I challenge you to find one economist who would risk his reputation on that house of cards. One cannot put any credence in these numbers put forth by Mr. Ball and the Liberal Party or their so-called plan for economic grow and diversification for Newfoundland and Labrador.” - Paul Davis, Leader of the Progressive Conservative Party of Newfoundland and Labrador


Academics and journalists alike who have taken time to examine these numbers have questioned the validity of the Liberals' proposed return on investment.


• Tom Baird, MUN math professor, writing in The Independent


“Ball will cast a diversification spell…Details will be worked out after the election by a nonpartisan advisory council on magical thinking, in consultation with esteemed grand wizards of industry.”


• The Telegram, editorial re. the Dwight Ball plan headlined “It’s magic”


“That’s right. Magic. Because nothing else can explain the bizarre expenditure/revenue sheet the Liberals released this weekend.”


“…what the Liberals project wouldn’t be a turnaround. It would be a miracle. It is in the realm of flying reindeer and dancing broomsticks.”


• Russell Williams, MUN political science prof, Metro News


“Having reviewed their [Liberals] lengthy statements on [diversification], all I can say is I have no idea what tangible proposals they are making.”


• Kerri Clarke, feminist economist, on Twitter


“Liberal budget is bad. Will have larger deficit than forecasted. Their numbers are wrong.”


• Tom Baird MUN Math professor, on Twitter


“Ball expects a 10,000% return on his diversification investments.”


“… This is gibberish.”

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