Loan guarantee announcement criticized

A tentative deal that would see Ottawa provide a loan guarantee for the proposed $6.2-billion Muskrat Falls hydroelectric project in Labrador was critized heavily by the provincial NDP and Liberal parties.

The deal is merely “an agreement to agree”, shrugged NDP Leader Lorraine Michael, who wondered aloud what has happened since Harper committed in March to back Muskrat Falls during the federal election campaign. “Work that we thought was happening in actual fact wasn’t happening,” Michael said in an interview. “We were led to believe by the premier that this kind of work was actually going on.”

Provincial Liberal Leader Kevin Aylward said he too wondered why more work on the deal hasn’t been done yet. “This is not a legally binding offer and the Harper government can still back out of it,” Aylward said in a statement. “It’s no wonder Premier Kathy Dunderdale didn’t show up for the press conference.”

Source: The Daily Business Buzz

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