TORONTO, Oct. 30, 2015 /CNW/ - The Ontario Liberal government is charging forward with the sale of 15 per cent of Hydro One over the next week.
The announcement comes just hours after the province's Financial Accountability Officer, Stephen LeClair, released a damning report saying the sell-off will actually increase the province's debt woes, stripping up to $500 million from the province's revenues in the near term and potentially much more in years to come. LeClair's report said it would be cheaper for the province to borrow the money needed under historically low interest rates – something the federal Liberals, with their commitment to invest in infrastructure, have already figured out.
Public opposition, running at about four to one opposed to privatizing Hydro One, continues to grow this week, with the City of Guelph joining over 185 other municipalities calling on Premier Wynne to stop her plan, and rallies in Sarnia and on Twitter.
"If she goes through with the sale, not only will she be doing lasting damage to the province's bottom line while driving rates up on hydro bills, she'll also be making the most unpopular, poorly-judged political decision in a generation of Canadian politics."
Miller noted the Keep Hydro Public coalition, and the growing opposition to the sell-off, is committed to continuing the fight against privatization of the public utility. "The Premier seems to be banking on the passage of time to reduce Ontarians' anger, but I expect public opposition will hound her through to the next provincial election. This fight is just beginning."
SOURCE Keep Hydro Public
For further information: Katrina Miller at 647-272-5024