More On The Therme Sweetheart Deal

The following video is the NDP's Chris Glover talking about how the deal Doug Ford has struck with Therme Spa is a bad one for taxpayers. Just before watching it, here is a little context for the rent from Therme that Glover talks about:

The amount the provincial government expects Therme to pay it in direct rent payments — estimated to be at least $1.1 billion — over the [95-year] course of its lease will be partially dependent on the business’ success. Its lease’s terms will require Therme to pay the province minimum rent at a rate of 3.5 per cent of the land’s value. Additional “performance rent” payments from Therme are also expected by the province, several years after its facility opens.

Under the lease, Therme’s annual payments to the province will be capped at eight per cent of the land value. 

Despite his folksy charm, at almost every turn it is clear that Mr. Ford is not here for us, the taxpayers.

 

 

Exploding the Myth: Conservatives as Able Managers of the Economy

Well, we have confirmation by Thomas Walkom in today's Star of two facts about Conservatives:

a) They are ideologically opposed to government being in the business of business
b) They are inept managers of the economy.

Both facts are evident in Walkom: AECL saga shows Conservatives have no business being in government, whereby the veteran journalist reveals how, in their haste to dispose of Atomic Energy Canada, they have concocted a sweetheart deal for their corporate sector friends at SNC-Lavilin Inc. that other 'free-enterprisers' can only dream about: in exchange for the $15 million purchase price for $1.1 billion in assets, Mr. Harper and the gang are paying SNC-Lavilin $75 million and placing AEC's $4.5 billion in liabilities solely on the shoulders of taxpayers.

Reminiscent of the time that other paragon of financial rectitude, former Ontario Premier Mike Harris, gave away for a pittance to a German Consortium Highway 407.

No doubt, to the true believers, such deals make sense. The rest of us can only ponder the truths revealed.