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www.oakvillebeaver.com The Oakville Beaver, Wednesday September 19, 2007 - 3 Tory calls on Byers to debate finance issues with Sorbara By Krissie Rutherford OAKVILLE BEAVER STAFF Need Help Creating Something Unique? See our design team! Looking for something different? You'll find it here. We specialize in importing and supplying quality ceramics, porcelain, and natural stone with a variety of exclusive lines. Oakville's Rick Byers was Progressive Conservative leader John Tory's choice to duke it out yesterday at an all-candidates debate on issues concerning the GTA's financial sector. Tory had a prior engagement and sent Byers, the Oakville Riding candidate, to Toronto's Town Hall for the early morning meeting in his place. Liberal finance minister Greg Sorbara, St. Paul's NDP candidate Julian Heller and Byers fielded questions on everything from taxation and regulation to international competitiveness and workplace challenges. It's familiar territory for Byers, a chartered accountant who is currently on leave as managing director and group head of government investment banking for BMO's Capital Markets. "We have to be vigilant in supporting the finance industry to ensure that it continues to grow," Byers told the more than 100 financial executives present in his opening address. The local candidate said the PC party is "a team that knows the industry" and will "ensure that we have a great working relationship from the inside." He took an early shot at the McGuinty government's spending habits, "whether the money's been spent on cricket clubs" or misplaced in other areas, Byers said, "the priorities have not been what they should have been." Sorbara, candidate for the Vaughan-King-Aurora riding, said the Liberal government will work to continue to strengthen the Ontario economy, which is currently the third largest financial centre in North America. He touted the Liberal's record so far in keeping "our own finan- Rick Byers cial house in order" and added "ensuring competitiveness in the financial sector has been driving our agenda." Sorbara said plugging money into infrastructure including public transit and colleges and universities, as the Liberals pledge to do, are key factors in drawing some of the best and brightest to the province to keep it competitive. Heller opened by telling financial executives in attendance that the NDP party's slogan and the focus of its platform is "a fair deal for today's working families. "That's something we can all support," he said. The St. Paul's candidate noted the economy and financial sector are "vital to making that fair deal a reality" and will therefore get the support it needs from the NDP. Heller said his party is committed to "properly supporting the education system" and providing "fair and affordable tuition to ensure that we unlock the potential of our students." This, he noted, will continue to help Ontario to be one of the country's best financial centres. As NDP leader Howard Hampton announced last week, the NDP would eliminate capital tax on the manufacturing sector, but is calling for an increase of capital tax to businesses from 14 per cent to 14.5 per cent. "We think that's a fair deal," Heller said, though it's something the financial sector isn't applauding. Conversely, both the Liberal and PC parties have pledged to eliminate the capital tax on business by 2010. "Our plan to eliminate the capital tax was put into law," Sorbara said. "We know that by 2010, we will have significant revenues," the finance minister added, to be in a position to put an end to the tax. Byers said the PC party also has in its plans to eliminate capital tax by 2010, but will attempt to achieve that earlier if possible. All questions posed at yesterday's debate, organized by The Toronto Financial Services Alliance in cooperation with the financial services industry, were viewed in advance by the candidates. All three agreed ­ on the surface ­ with some of the issues facing the financial sector. No party's platform includes the plan to eliminate retail sales tax on group life and health premiums, which currently sits at 8 per cent. It's a tax that's unique to only Ontario and Quebec in North America, and one the financial sector wants to see phased out. "If we eliminate that tax, we'll have to look for somewhere else for comparable revenue," said Heller, a comment echoed by both Sorbara and Byers. The trio also sang the same tune that a request to eliminate premium tax, imposed on automobile and personal property policies, would be difficult to accommodate. It pulls in more than $500 million a year for the Ontario government. 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Another fisherman rushed to the man's aid, performing CPR until an ambulance arrived, but despite these efforts the man died in hospital a short time later. Police say this tragic event was compounded by the fact that while the victim lay fighting for his life, another man walked over and stole the victim's fishing equipment. "While the other people on the pier were performing CPR this man goes up and starts to reel in the victim's line and then walks off with his rod and equipment," said Sgt. Peter Payne, Halton Police Media officer. "He had only just expired and these people were performing lifesaving measures to try and keep him alive and do what they could for him. This individual took it upon himself to seize that moment and steal from someone at their absolute weakest moment." With the assistance of those present, police say, the thief was identified, arrested and charged. Jamie Harland Gross, 24, of Kitchener, has been charged with theft and two counts of breach of probation. 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