Fact: Samsung is not GETTING $7B. They are INVESTING $7B in Ontario in exchange for tax breaks. (some believe to be in the neighbourhood of $500M).
Fact: Tim Hudak has said he will cancel the contract.
Prediction: Tim Hudak’s first speech as Premiere about the Samsung deal will go like this:
“After throughly analyzing the contract that the previous Liberal government signed with Samsung, we have discovered that the contract is so far along that to cancel it now would be an undue burden on the tax payers and would not be prudent. We sincerely believe to sign the contract was a travesty but at this point there is not much we can do but to honour it in the best interest of Ontarians.”
I’m just sayin….
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You’re right. Samsung is not getting $7 billion. They are getting about $20 billion in subsidies – including contracts for 80 cents per kwh, when the actual cost of producing energy is roughly 4 cents per kwh.
And by the way – there is no contract. The province signed a framework agreement saying they would work together in the future. McGuinty, Duguid and Chiarelli have all on separate occasions have all admitted the only cost to the province would be the loss of “jobs” – job numbers which have been grossly inflated. For example, out of the 800 “jobs” created in Sarnia, there are 8 permanent jobs – one is security, and another mows the grass. I guess you could call that a green job.
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the sad fact is that with all the tax increases, lies and idiotic green deals McGuinty still may win the next election. SAD
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Toronto Tory,
can you show me how you came up with $20 billion?
Also, can you show me that Samsung is getting 80 cents per kwh. FIT payment schedule states that is only for microprojects
Big wind projects are 13 cent per kwh. Please show me your sources.