Budget figures need to be recalculated

Re: How much will Wynne’s next budget cost Ontarians? (Saturday, April 29)

Depending on one’s perspective, Lorrie Goldstein is either overstating or underestimating the effect on peoples’ pocketbooks of Kathleen Wynne’s latest attempt to forestall government change.

The additional Liberal spending over the next year amounts to roughly $3 billion, and that amount will, of course, be added to our humongous McWynty debt.

At current interest rates it will actually cost Ontarians a mere $100 million/year extra, or roughly 10 per cent of a gas plant re-location scandal.

Add in the $1.8 billion for Crap & Charade and we’re still looking at a hit of under $2 billion, well below the $9.3 billion posited by Mr. Goldstein.

On the other hand, the interest charges on that $3 billion of new spending will go on forever. So let’s consider the next 100 years, which should nicely cover the lifespan of those grandchildren-in-waiting she always claims to be looking out for.

Guesstimating an average interest rate of a very conservative five per cent, that $3 billion will cost the province some $20 billion in interest payments over the next century, an amount somewhat in excess of Mr. Goldstein’s tally, and that doesn’t include the C&C foolishness. She truly is a dear premier.

Louis Desjardins Belleville