It's from Rabble.Ca: "Ford's deficit funded Ponzi Scheme"
High hydro rates were a big problem politically. So, In the 2018 Ontario provincial election Doug Ford promised to lower hydro rates by 12 per cent. Ford has not lowered hydro rates by even one per cent.
What Ford did do was hide and protect private profits with his electricity rebate program subsidy. The Financial Accountability Office has reported the cost to the public treasury from between $6 billion and $7 billion per year.
Last November first the Ontario Energy Board raised electricity rates by 29 per cent. This was done, as it has been done every November 1 and April 1 since June 2002 to pay the rates the deregulated electricity market charged.
Knowing this would not be good optics for him, Ford increased the electricity rebate program from 13 to 23.5 per cent, hiding the increase. Ford never talks about his 2018 promise anymore.
Just doing the math, $6.9 Billion plus 23.5 per cent equals a whopping $8.5215 billion and growing, that figure does not include the November 1 increase of 29 per cent. All paid for by the public treasury.
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The crisis in both healthcare and education as well as other public services we all depend on is due to the underfunding and cuts to our critical public services to fund this scam and worst of all, Ford is also borrowing from future taxpayers by using deficit financing to pay for his scheme.
In a nutshell Ford is financing his scheme with social deficits in healthcare, education and public treasury deficits.
The deficit for 2026-27 is now $13.8 billion, indebting future generations.
In the middle of an affordability crisis, Ford’s scheme only protects private profits.
I've said it before and I'll say it again: Any working class person who votes for this party of full-time grifters is either a total ignoramus, a hopeless shithead, or both.
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