QUEEN’S PARK –Today, the Wynne Liberals recklessly proceeded with the fire sale of Hydro One, despite a damning independent report from Ontario’s Financial Accountability Office, and the opposition of 165 municipalities and nearly 80% of Ontarians.
Leader of the Official Opposition Patrick Brown stood in Question Period to demand the Acting Premier Deb Matthews demonstrate accountability for the government’s refusal to listen to the concerns of Ontarians.
“Today is the day; the day the Liberals can’t turn back from as they give away an asset that brings in 700 million dollars a year to the people of Ontario,” stated Leader Patrick Brown. “All for what will amount to just two years of revenue from Hydro One.”
The Liberal Government has said that the proceeds from the sale will be put towards funding infrastructure developments; however as reported by the Financial Accountability Office last week the net profit from sale could be as low as $1.4 billion for infrastructure funding. This would only account for approximately one per cent of promised infrastructure funding.
“In the end the Liberals will get as little as 1.4 billion dollars of new cash from the Hydro One Sale – an amount that won’t even cover the cost of one new transit project,” Leader Patrick Brown added. “Now that there’s no turning back from a bad deal, will the Acting Premier tell the truth about why they’re really selling Hydro One?”
In the meantime, the Wynne Liberals have failed to offer assurances to the vast majority of Ontarians who want to know whether or not the sale will result in further rate increases.
Brown concluded, “This is a bad deal for Ontario. This sale will raise hydro costs and make life even more unaffordable for Ontario residents. How does the Acting Premier justify telling seniors that they must choose between heating and eating?”