The Vancouver Sun is reporting that "A top investment firm continues to sound alarm bells about B.C. Hydro‘s finances, saying the Crown electricity provider’s rising debt level is a risk to B.C.’s credit rating." No kidding. Christy Clark's fudge it budgets are finally starting to catch up with her.
Lest we forget what created the ballooning deferred debt and turned B Hydro from a tax revenue cash cow to a complete Enron fraud. That was Gordon Campbell and the BC Liberals. They privatized the power brokers that sell power to the public company at above market rates. That was a criminal act that needs to be rectified this election before the tsunami drowns us all.
thanks for reporting this.
ReplyDeleteNorm Farrell at In-Sight.ca has written a new post on this subject with far more details. In Norm's previous article he outlines how much money the province took in while el gordo was Premier and then the queen of photo ops. Lets put it this way, the graph for the province from resource extraction was a yard high and then for photo queen about 1/4 of an inch. Upp, this province is in a lot of financial trouble. the b.c. lieberals get money, assign the debt to a Crown corporation and then say the province has a balanced budget.
My Mom taught us that as long as you had a mortgage you were not debt free nor did you have extra money to spend until it was paid off. Guess Christy Clark must have missed that "little lesson" in her life.
Norm is solid. The problem was created when they privatized the power brokers that sold power to the public company at above market rates. The friends of the BC Liberals who contribute to their campaign made a killing at the taxpayers expense.
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