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Liberals took cash from ICBC, Hydro to balance budget: NDP

VANCOUVER (NEWS1130) – The Opposition is accusing the BC Liberals of taking cash from a couple of Crown corporations that raised your rates in order to balance the budget.

The province is getting well-over $450 million from ICBC and BC Hydro; that’s a lot of money, considering the province is projecting a surplus of just $200 million.

NDP Finance Critic Bruce Ralston wants a review, “looking particularly at BC Hydro and the revenue that’s attributed to BC Hydro; BC Hydro needs a thorough examination.”

Ralson points out the Auditor General criticized BC Hydro for deferring debt to future years last year.

“The Auditor General has spoken very strongly about the way in which revenue is attributed to BC Hydro and then to give a dividend to the province. So that process will need a major re-think.”

The province is defending its accounting methods.

Both Crown corporations raised rates last year and BC Hydro is applying for another rate hike this year.