Now implementing the "most progressive budget in years", the Liberals dig deep into the asset bank and are looking to sell off half of Hydro One for what seemst to be half price, for a net loss in long term profits in the mid-term of 8 to 12 years.
This round nets them a one time only 3 billion, if they get the right price, according to them. That is how the first year of P3 transit infrastructure is to be paid off. Next year the other half? Where from there?
Sousa is already looking at a shortfall of half a billion in projected corporate tax revenue to be made up where? Teachers salaries I suspect.
School system for sale next. Only question is, should they do it after the next election, or before in a suicide budget?
Selling off Hydro One’s distribution assets, as recommended by the Ed Clark panel, would take a big bite out of the company as it is today.
The company’s distribution business — which delivers electricity directly to 1.3 million homes and businesses in most of rural Ontario and some larger centres — accounts for 75 per cent of Hydro One’s revenue, and 36 per cent of its profit.
Did I fail to mention increased cost to consumers once the single source local distribution monopolies get their teeth into consumers?