MPP concerned with beer tax and Hydro One sale in Ontario’s budget
The provincial budget comes out tomorrow and the Parry Sound-Muskoka MPP is not confident about it. Norm Miller says the government is projecting a $10.9-billion deficit. He says it’s getting worse versus getting better despite the Liberals say.
Miller says the budget will likely talk about the sale of Hydro One. Miller who says experts his party has spoken to say Hydro One has no value since their assets are fully mortgaged.
Miller says there is $27-billion worth of debt in the Ontario Electricity Financial Corporation. He says when the government sells Hydro One, it will lose a stream of revenue that was servicing that debt.
Meanwhile, the ability to sell beer in grocery stores is going up the shelf life of local craft breweries but at what cost? Miller says he wants to be clear in that he supports the idea.
Reports say the new beer tax will generate a $100-million a year and will eventually reach a dollar per 24 pack. The government has said brewers of the more popular brands won’t be allowed to up the price for two years.