The Honourable Tom Marshall, Minister of Finance, said today the Williams Government has a clear fiscal plan that has put this province on solid financial ground over the past four years while making strategic investments to grow the economy, modernize infrastructure and expand social programs and services.

"I take exception to the remarks of the Leader of the Opposition who has stated that recent announcements by the Provincial Government are unbudgeted," said Minister Marshall. "In April, we presented a spending agenda for this province with Budget 2007, and the vast majority of the funding announcements that have been made in recent months were contained in that fiscal plan. We are carrying on with the business of governing. To suggest otherwise is misleading the taxpayers of this province."

Furthermore, Minister Marshall said to describe these announcements as haphazard indicates the Opposition leader is out of touch with the progressive steps the Provincial Government has taken to address the precarious position in which the previous administration left the province.

"When we assumed the governance of this province, we were headed in a direction where the average deficit would have exceeded $1 billion annually, along with an increase in our overall debt," said Minister Marshall. "We took decisive and clear action and those decisions have resulted in significant improvements in our province�s financial position to the point where, in Budget 2007, we are forecasting a record surplus of $261 million."

Minister Marshall said the Provincial Government takes a strategic approach in making decisions as to how it spends the taxpayers� dollars, evidenced by the fact that in the past four years, the Williams Government has developed several strategic action plans to ensure investments are made in areas that have long-lasting benefits for future generations. Among those strategic plans are the $2-billion infrastructure strategy; the Poverty Reduction Strategy; the Cultural Strategy; the Innovation Strategy; and the Healthy Aging Strategy, along with the province�s plan to ensure the province has a well-educated, skilled labour force.

However, Minister Marshall said, the Provincial Government also recognizes that it must not lose sight of the fact that oil is a finite resource and the province�s revenues are impacted by the volatility of its pricing.

"That is why we have taken such a strategic approach in our decision-making," said Minister Marshall. "That is why our approach to fiscal responsibility is to find that balance between meeting the needs of our people today and securing their future for tomorrow. Unlike previous governments, we do have a clearly-defined plan for this province and we are taking the action necessary to achieve it.

"Our government will continue to promote strong financial management practices and move forward with our eight-year plan to diversify the economy and build a strong, prosperous Newfoundland and Labrador," said Minister Marshall.

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