27 August 2014

Why Dalton McGuinty fled Ontario

Reason #14: He didn't want to be around when the lights went out.

The report by former Ontario Teacher Pension Plan guru Jim Leech said the pension plans for Ontario Power Generation (OPG), Hydro One (H1), Independent Electricity System Operator (IESO) and the Electricity Safety Authority (ESA) are unsustainable.

For every $1 contributed to the plan by the employee, taxpayers and hydro ratepayers contributed more than $5, the report says.

“In 2012, total contributions from all sources to the four plans were approximately $585 million,” it says.

“Of the $585 million, just over $100 million was contributed from employees.”

All of which is pushing up the cost of electricity.
Here's the real zinger...
Ontario’s net debt has soared by 89% since 2007-08 — a rate faster than that of the federal government or any other province, even Quebec, which also has staggering levels of debt.
Don't blame me, I didn't vote Liberal.


Unknown said...

Unfortunately the low information voters still believe that the true debt in Ontario is only 12B dollars not the 290 Billion. Some how they think the deficit spending of the Liberals over the last 10 or so years has just disappeared.So we can continue to spend like drunk sailors. I really don't want to be here when this house of cards comes down, and it will...Steve O

Neo Conservative said...

voters also seem to forget... or ignore... that shiny pony's daddy, the emperor pierre fuddle-duddle the first increased the national debt tenfold.

liberals of any stripe have yet to encounter a problem they think they can't spend out of existence. tax monies are the magic pixie dust of the lefty world view.

ontario will be paying for dalton's follies for generations.


Anonymous said...

That's if the Liberals don't bankrupt the province first.