The NDP government’s arithmetic on Site C cancellation costs is “deeply flawed,” has “no logic at all,” and is “appalling,” according to three project financing experts.
Eoin Finn, a retired partner of KPMG, one of the world’s largest auditing firms, said Premier John Horgan’s claim that terminating Site C would result in an almost immediate 12 per cent hydro rate hike is the “worst rationale I’ve heard since ‘the dog ate my homework’” excuse.
“I expected better when the new government came in,” said Finn. “They’ve just continued what [former premier] Christy Clark did to hide the true costs of Site C and hope that they get re-elected before the next generation finds out.”
“This is the stupidest capital decision ever made by a B.C. premier. I don’t know who is giving them accounting advice.”