News

 

PCs urge Wynne to disclose full cost of MaRS 'bailout' before leaders' debate

Debate Tues June 3

Ontario's Progressive Conservatives are urging Premier Kathleen Wynne to release all documents related to the bailout of a Toronto real estate project ahead of Tuesday's leaders debate.

The Tories this week released documents they said show the governing Liberals approved a $317-million bailout of a downtown project by a private developer and a charity.

PC finance critic Vic Fedeli says taxpayers could be on the hook for more than three times that amount once all costs for the Phase 2 tower of the MaRS innovation and research complex are factored in.

In a news conference outside the complex on Sunday, he repeated the Tories' call for Wynne to "come clean" about the deal, and the total price tag.

Wynne has said the deal to bail out the real estate developer and charity behind MaRS was not made public because it hasn't been finalized.

She has also said the fact that the province now has to buy the MaRS office tower to stop the charity from defaulting on government loans will give the government more office space across the street from the legislature.

But the Progressive Conservatives have railed against her reasoning.

"Kathleen Wynne has just used your tax dollars to purchase the Trump Tower of Canadian bureaucracy," Fedeli said on Sunday.

"The money that was blown on Kathleen Wynne's secret real estate deal could've gone to hire nurses or teachers for special ed kids."

Voters deserve to know the full details of this deal before they go to the polls on June 12, he said.

The province gave $71 million to buy the land to expand the MaRS centre, and a $234-million loan for a new tower, but the Tories have said documents show MaRS and the developer couldn't repay the money.

According to the documents, the development's $317-million purchase price would include the $234-million government loan.

RELATED:

Experts predict Ontario election campaign will get nastier

Liberals accuse Hudak of copying ideas from major US conservative groups

Leave a comment:

showing all comments · Subscribe to comments
  1. █Alex█ posted on 06/01/2014 02:40 PM
    █She should say it like it is█These big politics people play a game of just say what you have too█Politics is reaching bottom levels and we are looking more south of the border every day█Vote Tim Hudak for Mayor of Toronto█
    1. Adriane Taylor posted on 06/01/2014 04:25 PM
      @█Alex█ How about Jerry Agar for Mayor of Toronto? Now that Rob Ford has finally been annihilated with very little or no chance of resurrection, do you think any one of the so-called front runners would do a better job of running the City....I don't get Tory....he was the Leader for the Conservative Party of Ontario and now he seems not to have a problem cozying up to Wynne....we need new blood, fresh air, youthfulness, vision, honesty and integrity....when Tory met with Wynne I think he got some of her on him....I think that was a huge mistake....especially considering she did not even have a legitimate mandate from The People....Jerry Agar...that is who should be our next Mayor.
    2. arthur posted on 06/02/2014 12:16 AM
      @Adriane Taylor yeah... i agree Jerry would be your typical conservative. Old, white, angry and crazy but i might see some issues when it comes to taxes and how the city is run. if Jerry is calling the shots Jerry would'n want to pay taxes for anything/services he doesn't use. but if he or his family needs those services he would want others to pay and help out.
  2. Sully posted on 06/01/2014 04:46 PM
    I listened to 'The Province' today, with finance minister Sousa sitting in for Wynne. As an admitted talk radio junkie, I can honestly say that I have never heard a bigger load of bullshit delivered in an hour. After listening to this slimy snake-oil salesman lie and deflect, how anyone with even a single-digit IQ could even consider voting liberal is beyond belief.
    1. Brian posted on 06/01/2014 06:33 PM
      @Sully I listened to 'The Province' last week, with PC Leader Tim Hudak. As an admitted talk radio junkie, I can honestly say that I have never heard a bigger load of bullshit delivered in an hour. After listening to this slimy snake-oil salesman lie and deflect, how anyone with even a single-digit IQ could even consider voting PC is beyond belief. -

      The more I read postings from a Conservative the More I realize that conservatives are a intolerant bunch their way or you are dumb - remind me of life in a dictatorship
    2. █Alex█ posted on 06/01/2014 06:49 PM
      @Brian █Tim is a former Walmart manager, so one can't expect much with such a perverted start in the world of business█
      █Tim would like to make all the workers of Ontario and business into a Walmart style of labour relationship█Truly Tim Hudak is the worst choice in this bad selection of political leaders█
  3. Ernie posted on 06/01/2014 05:25 PM
    Ok did anyone catch what was said in this story? They had to bail out the charity to keep it from defaulting on money they lent the charity?

    Huh?

    So many questions. Why are the liberals lending the charity money in the first place. Why is the loan such a bad investment? How much money did people personally skim off the top from this 'charity'
    This is the tip of the iceberg of something huge.
    1. █Alex█ posted on 06/01/2014 06:52 PM
      @Ernie █They sound like Stephen Harper's senators or Rob Ford! LOL█
      █With all this and Rob Ford, Canadian politics are at an all time low.█
showing all comments

Your GTA

Sign Up For Breaking News Alerts

Becoming a member only takes 60 seconds! Members get access to exclusive information and products that non-members do not, including concert ticket presales, trips, advance notice on upcoming entertainment events, movie screening passes, music giveaways and more!

Login with Facebook

Stay connected 24/7! Receive breaking news and programming alerts right to your inbox. CLICK HERE to sign-up.

Today's Poll

What do you think of the Raptors' new logo?

Voting is restricted to one vote every 24 hour(s) VoteResults

Top Stories

Facebook

Twitter