Legislative Assembly

session. We had comments from the Premier, that is, last year when he was Leader of the Opposition, with respect to the last Budget. He said that it was the sort of Alice in Wonderland type of presentation that there was debt yesterday, and debt tomorrow, but never debt today. I believe these were the words he used. I think probably he will have to use the same words today, only he will have to‘- emphasise them more because the debt is getting greater and greater. In fact I believe that this presentation by the present Provincial Treasurer, and he is, Mr. Speaker, quite a fine, capable, qualified person to hold the Portfolio that he does, but I am afraid that he will perhaps take the prize for presenting the Budget in all our history that had the largest increase in net debt for the Province. I am afraid we will have to say that he has presented a Budget which shows that the net debt of the Province increased this year by some twelve millions of dollars, which in the words of the Minister of Health is indeed a frightening situation. I think he will go down in history as the greatest red ink artist of all times. Perhaps next year he will mend his ways. I don’t know: I am not very hopeful.

Walter R. Shaw: Perhaps he put some on the potatoes, that red stuff, didn’t 'he'.’

L. George Dewar: Mr. Speaker, he tells us in his Budget presentation, on four, that we must tighten our belts, that we must realize we are living beyond our means, and that we have a taste for luxury that we cannot afford. And still, in spite of the fact that this year he is budgeting for almost ten million dollars more revenue than last year, in spite of the fact that he has received 3.5 million dollars more in revenue from Ottawa on equalization alone, not to mention 1.6 on behalf of higher education. In spite of these facts, in spite of the fact that he tells us we must tighten our belts and it must be a very elastic belt, Mr. Speaker, because when he tightens it up as tight as he can get it, he still comes forth and budgets for a deficit of two and a half million dollars. That, Mr. Speaker, I think is a very serious situation.

Honourable Alexander B. Campbell: Twice as good as when you were running the Government I presume.

L. George Dewar: Now, I will answer that question Mr. Premier. Mr. Speaker, I will show the sad change that has taken place from the . . . . Don’t run away Hr. Premier, I have it all here for you.

Walter R. Shaw: He is listening outside.

L. George Dewar: I am glad to see the Provincial Treasurer does not need a retreat.

Honourable T. Earle Hickey: No, I will stick with you.

L. George Dewar: Because I have some very sad facts to present here.

Honourable Alexander B. Campbell: Mr. Speaker, I wouldn’t want to miss this because I was the man who made the Provincial debt disappear last year. (Laughter)

L. George Dewar: Well, I am afraid that this year I just can’t make it disap- pear after the performance of the present Provincial Treasurer; it certainly does not lend itself to any magic of that type. I am going to show that in 1966 the former Provincial Treasurer, who was not perhaps as well qualified in the financial art as the present Provincial Treasurer, was able to estimate a very modest surplus on cur- rent account of $50,000.00. But what did he do. he parlayed that small surplus into a surplus of one and a quarter million dollars in the same year in the Budget that he presented.

Honourable Alexander B. Campbell: 0n ordinary account.

L. George Dewar: On ordinary account. He was able to show $800,000.00 more revenue than he budgeted for. That was a very good showing, very commendable indeed.

Honourable Alexander B. Campbell: Was that the year he sold the building. L. George Dewar: No, that was last year. —418—