Premier’s Rate Mitigation Effort

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Premier’s Rate Mitigation Effort Ignores Obvious Funding: Crosbie
"Our future as a province is at stake. Failure is not an option”.
Tuesday, October 13, 2020

Office of the Official Opposition
For Immediate Release

 

St. John's, NL (October 13, 2020) – Ches Crosbie, PC Opposition Leader and MHA for Windsor Lake, criticized the terms of reference for the new rate mitigation team led by Brendan Paddick for failing to mention the Canada Infrastructure Bank as a source of funds for rate mitigation.

The Canada Infrastructure Bank was set up by the federal government with $35 billion to fund projects which support green infrastructure and the lowering of emissions. “As a revenue-generating source of clean electricity, Muskrat Falls fits the bill”, says Crosbie.

The rate mitigation task force under Paddick was set up after disagreements between Nalcor and the provincial government and the failure of months-long talks with the Trudeau Liberal government which centred on financial restructuring.

“Premier Furey should amend the terms of reference for the new task force to include obtaining equity investment from the Bank,” said Crosbie, “and he owes the people of the province an explanation of why the previous negotiation ended in failure. Our future as a province is at stake. Failure is not an option”.
 

Contacts:

Bradley Russell

Director of Communications and Digital Strategy

(p) 1.709.729.3668

BradleyRussell@gov.nl.ca

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