QUEEN’S PARK – January 21, 2011 marks the first anniversary of the McGuinty Liberals signing their secret, sweetheart energy deal with multinational conglomerate Samsung. Today, Ontario PC Energy Critic John Yakabuski (MPP Renfrew-Nipissing-Pembroke) revealed that, after a full year, Ontario families still have no idea what’s inside the $7-billion agreement.
Hydro rates for families and small businesses have increased 75 percent under Dalton McGuinty.
Worse still, his expensive energy experiments – like the Samsung deal – are expected to raise hydro bills by 46 percent within four years, according to the McGuinty government’s own lowball estimates. In addition to the high cost to consumers, similar jurisdictions, such as Italy, found for every job their energy subsidies created, they were killing 4.8 jobs in the overall Italian economy and 6.9 jobs in the industrial sector.
Yakabuski called on Dalton McGuinty today to once and for all reveal the full details of his sweetheart Samsung deal and the true cost of his expensive energy experiments on consumers and the broader economy.