Nipissing MPP Vic Fedeli says it’s no surprise that foreign investment dollars have dropped in Ontario. Fedeli says when you have the highest electricity rates across North America and the highest payroll taxes in Canada, investors bypass Ontario. Fedeli says the Financial Accountability Office is forecasting a drop in foreign investment this year and the agency, the Intelligence Report also finds less foreign dollars are coming to Ontario.
In fact the Tory finance critic says foreign direct investment has gone from $7-billion to $4 billion and he says the Liberals continue to tout that Ontario is number in foreign investment across North America when in reality its standing has fallen to fourth place. Fedeli says Ontario has paid an enormous price in lost jobs because of the Wynne Liberals and it’s not going to improve. He says the province has already lost 350,000 good-paying manufacturing jobs and the job drain will continue because another job killer, the Liberal’s pension plan is just around the corner.