McGuinty has little to offer seniors worried about market meltdown

Ontario Premier Dalton McGuinty says there isn't a lot he can do for seniors worried about their pensions.

Commenting on the recent market meltdown, McGuinty said Tuesday at Queen's Park that the turmoil of the past few weeks will not force his government to cut essential services. But he also said some of the damage to the province's economy is beyond repair.

"There are parts of the economy that are not coming back," he said referring to job losses that have already occurred in manufacturing.

The recent wild swings on the stock markets and the shortage of credit have McGuinty concerned the damage could spread to people whose jobs are behind them.

"I know that seniors in particular are worried about their savings," he said. "They worked long and hard for their pensions and their RSPs."

But the premier didn't offer anything tangible to protect seniors, except to say that his government won't cut programs people depend on, like health care and education.

"We all need to bring a great deal of humility to these circumstances. We don't know exactly how we got into this. We don't know exactly how to get out of this."

NDP MPP Peter Kormos said the premier's comments demonstrate that the Liberal government has no plan to protect jobs, restore jobs, or save jobs.

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