SaultOnline’s Mike Caruso sits down with Ian Turpin from the Citizens Coalition Against Privatization to discuss the Ontario Government’s plan to sell off a portion of Hydro One. What impact will it have? Is privatization of public assets a sign of desperate measures or smart business move for the good of Ontarians?
The Citizens Coalition Against Privatization said that “Under the cover of extreme secrecy, the Ontario government is carrying out a scheme to sell off our hydro system. It’s a scheme that will mean:
• Higher rates for you, your neighbours, and businesses in your community.
• More frequent and longer outages.
• Less money for your local schools, hospitals, roads, and transit.
• Less action to prevent climate change.
Who benefits from this scheme? Large corporations and wealth Bay Street investors. But the good news is that it’s not too late to stop this scheme. It’s not too late for us to say: Hydro One Not For Sale!
The bad news is that this scheme is already in motion. If it happens, we’ll lose control of one of our most important public services and we’ll give up hundreds of millions of dollars of revenue every year, (last year the provincial coffers reaped nearly $750 million from public hydro.)”