John Vanthof is the NDP MPP for Timiskaming-Cochrane.
The Kathleen Wynne government released its latest budget last Thursday, and it is disappointing to say the least. The first thing that struck me was the Liberal government’s continued refusal to stop the sale of Hydro One. Their reasoning is disturbingly clear: The Liberals are using the one-time proceeds from the sale of Hydro One to balance the government’s books.
Even worse, the government has lost more than $1 billion of revenue; these funds are now going to private investors who have bought 30 per cent of Hydro One shares. Going forward, this revenue will continue to be lost every year to private interests, instead of funding the programs and services that Ontario taxpayers rely on.
While the government has proposed to lower the hydro rates by decreasing delivery charges, this plan is funded by the taxpayer through government borrowing. Ultimately, you and I will continue pay the full hydro bill and resulting interest on this government’s debts. Continue Reading →