Lower the Cost of Doing Business in Ontario – MPP McDonell

May 8, 2015

QUEEN’S PARK – MPP Jim McDonell and the Ontario PC Caucus continue to advocate for urgent action to reduce production costs in Ontario, in order to keep the province competitive in a global market.

 

“Ontario now has the highest electricity rates in North America, the highest payroll taxes, second-highest property taxes and an increasing regulatory burden that diverts essential resources from what businesses should be allowed to focus on: innovation and producing high-quality goods and services at a competitive price “ – MPP McDonell stated. “Businesses have to pass these costs to Ontario consumers, who are less and less able to afford the rising cost of living. This makes Ontario-based businesses that are competing with foreign imports or trying to sell abroad uncompetitive, forcing them out of the province.”

 

Electricity rates have increased three-fold in Ontario since 2003.

 

“If a business can’t produce goods at a price consumers are willing to pay, they must either move or go bankrupt” – MPP McDonell commented. “This is happening across Ontario. The latest plan to sell Hydro One without paying down its liabilities will saddle ratepayers with additional rate hikes to pay for the utility’s $28 billion debt. We recently learned that the Government has the audacity to use part of the remaining 40% portion of Hydro one shares as a bailout for public energy sector employees’ unfunded pensions, as well as annual raises. Our rates are uncompetitive compared to many of our neighbours, and after 12 years of Liberal mismanagement our competitive advantage is all but gone. In Ontario, many employers are focused on survival rather than planning expansion and innovation. This is no way to run an economy.”