Report shows Hydro One sale puts Ontario in weaker fiscal position | What's Left

by Editors (What's Left) last modified 2015-11-03T15:20:49-04:00
Time and again it has been demonstrated that privatizing public assetsactually costs governments more money. This fact has become more obviousto many in Ontario where the budget watchdog has released a reportshowing that the sale of the province’s electricity transmission branch mightprovide some additional revenue this year, but that Ontario’s fiscalhealth will become significantly worse in future years as a result ofthe sale.

The report has put Premier Kathleen Wynne on the defensive as they contradict the Liberal government’s message box. The report makes transparent that the sale of Hydro One (and other similar privatization processes) has nothing to do with financial sustainability and everything to do with political ideology.

Despite this evidence and broad opposition, the Liberal government has put on the blinders and forged ahead with selling the first group of shares.

More: Budget watchdog warns Hydro One sale will deepen Ontario’s debt

More: Kathleen Wynne’s bone-headed plan to sell Hydro One could backfire

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