Thursday, 19 July, 2018

PCs press pause on ticket resale price capping

Truly humbled by the trust you have put in me’ Doug Ford addresses Ontario as premier Truly humbled by the trust you have put in me’ Doug Ford addresses Ontario as premier
Sandy Nunez | 07 July, 2018, 01:06

According to Premier Ford, "cap-and-trade and carbon tax schemes are no more than government cash grabs that do nothing for the environment, while hitting people in the wallet in order to fund big government programs".

It remains unclear how much exiting the cap-and-trade program will cost Ontario, which is part of a larger program with Quebec and California, and what will happen with the almost $3 billion in credits that companies have already purchased.

Ford says that the province, however, will assume the responsibilities for contracts and orders that have already been signed for projects funded under this program. Decisions to continue any specific initiatives now supported by the fund will need to be paid for out of the tax base and will be made on a case-by-case basis in alignment with the Ford government's Plan For the People and the upcoming value-for-money audit.

The PC Party won a majority government after campaigning on axing cap-and-trade, which forced large companies to buy allowances for their carbon emissions.

"The previous government attempted to institute a cap on ticket resales with no way to enforce that cap, resulting in less consumer protection", Ford spokesman Simon Jefferies said.

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However, there's no indication of what the new government plans to do to curb skyrocketing ticket prices on resale websites.

The debate about the environmental efficiency of cap and trade has become a hotly contested issue, with the pro and anti sides firmly entrenched in their positions, but what concerns many Ontario voters now is the financial cost of Ford's move.

"We know that the premier... promised to get rid of cap and trade and we understand he's moving quickly to fulfil that promise but I think that there's some problems here because there's some questions that haven't been answered", he said.

"People need the details on exactly when this is going to be wound down and if there are any programs that are going to persist, we also need to know what those are, because otherwise the manufacturers are going maybe on a rollercoaster ride", he said. "Today we are keeping that promise", he said.