Just before the 2012 Ontario election, Dalton McGuinty’s Liberal government wasted $1B of taxpayers money to save their political hides. Now Kathleen Wynne - part of the government and cabinet that signed off on the cancelled natural gas plants, is hoping to waste $1.4B and save her political hide.
Talk about going back to the same playbook.
Wynne is trying to convince Ontario taxpayers that feel burned by the rising costs of electricity, that she has the answer.
Prices have jumped 70 percent since 2009 as the green energy plan has steadily kicked in and residents are not happy.
Wynne and others tinkered before and rates jumped again. Anger grew, her party lost a by-election so they cut the provincial portion of the HST - sort of. They rebate it back onto your bill meaning 8% of all hydro bills come out of the provincial treasury so taxpayers are subsidizing the hydro system.
When that didn’t stop the anger or rising prices, Wynne stepped forward with her new plan to shift how electricity is paid for but didn't fix the fundamental problem. She and her party built an unaffordable system on unreliable green energy with outrageous contracts for wind and solar, neglected Niagara Falls and paid insane salaries to top executives for implementing this mess.
Watch as I tell you about her new plan where she says she’ll cut hydro rates by 25 percent starting this June.
Always be careful with any promise from any politician but especially this one.
Wynne compares how the Liberals will finance this to extending the life of a mortgage on a house but it’s more like extending your car payments for 30 years. If the car lasts that long, you have a depreciating asset, not something that has grown in value.
She’s hoping this $1.4B in extra interest plus the money shifted from your hydro bill to your tax bill will help save her political fortunes.
She’s known about this problem for years but she’s fixing it now in the hopes of winning the next election.
Don’t be fooled again, don’t let this work. Remember the mission, fire Kathleen Wynne.