Hydro One Fire Sale Not for InfrastructurePublished on November 19, 2015
QUEEN’S PARK - Today during Question Period, Leader of the Official Opposition Patrick Brown asked the Acting Premier what the revenue from the Hydro One fire sale is really going towards.
The Wynne Liberals’ 2014 budget made a spending commitment of $130 billion for infrastructure. The 2015 budget made the same spending commitment, but included the proceeds from the Hydro One fire sale as necessary to help fund these commitments.
“We know the money is coming in from the Hydro One fire sale, but we all really know that money isn’t going to infrastructure,” said Leader Patrick Brown. “The infrastructure plan the Premier touts was announced in the budget a full year earlier – without the sale of Hydro One.”
The fire sale could cost the province approximately $700 million in revenue every year, and the net profit from sale could be as low as $1.4 billion for infrastructure funding.
Leader Patrick Brown added, “Even if the government spends $1.4 billion from the fire sale on infrastructure – like this year’s budget allocated – that only represents one percent of the government’s overall infrastructure plans.”
The Hydro One fire sale isn’t truly for infrastructure, it’s a ruse,” Leader Patrick Brown continued. “No more shell games and distractions. Is this money from the fire sale going to pay for the next Liberal scandal, or one of the old ones?”