Provincial NDP leader Andrea Horwath is pushing for a Hydro One tax break to benefit all of Ontario, including the north. She says the Wynne Liberals gave the utility company a $2.6 billion break when it was privatized, and she wants to know what is happening with that money.
Horwath claims Hydro One wants to keep the benefit of the tax holiday for its investors. But, she says that break should be benefiting Ontarians who are struggling with their hydro costs. She says only private investors are going to benefit from the break, which was even outlined in a recent report from Hydro One. She says that report states the Ontario Energy Board could force the utility company to ensure the benefit goes to rate payers, instead of private, for-profit, shareholders.
However, Ontario’s Finance Minister Charles Sousa says all of Ontario will benefit from the tax break. He says Horwath should be looking into exactly how the break happened. According to Sousa, the transaction that ensued as a direct result of that exemption will go into infrastructure investments in the province, as well as the Trillium Trust. He says both aspects will help all of Ontario.