Wynne’s Sell Off May Hit A Road Block Or Two

[ 0 ] April 19, 2015 |

tax and spend liberalsIt appears that the speculation that Ms Wynne and her Liberals are going to “re-write” the Electricity Act, has some merit.

The Electricity Act requires that any revenue from a sale of Hydro assets must be applied to the debt.  That annoyance hinders the Liberals from taking the sell off money and spending it as they see fit.

Their solution will be to eliminate that hindrance. So essentially what the Liberals intend to do is amend the Act so that they don’t have to give up their new cash windfall.

How precious.

This truly is the same as selling your house, pocketing the entire price, and stiffing the mortgage company or other debtors.  The debtors will eventually catch up with them and demand payment and then Wynne will just raise taxes yet again.

I suspect they’ll put a token amount down on the debt, hidden under a well convoluted accounting scheme, where in the end, not a penny actually makes it way to the debt.  The rest, they will spend like drunken sailors on a 3 day weekend.

Of course, that nasty debt, and unpaid incurring interest, will also be the burden of we, the taxpayers.

You can bet too, that some high ranking friends of the right Liberals will get tasty contracts for one thing or another to deal with spending this windfall.

It looks though, that there is a wrench.  There are a few unions, especially CUPE, who are poised to take the legal route and perhaps prevent this sale.

Considering the amount of money it would take to sue the government to prevent this sale, the only entities with enough revenues, will be the unions.

CUPE is serious and is already rallying their troops.  This is on their official website.

Just another day in Ontario.

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