Perth-Wellington Conservative MPP Randy Pettapiece continues to share his concerns about the local impact of rising electricity prices.
In a release Monday, Pettapiece noted that a recent study by the Ontario Chamber of Commerce found that one in 20 businesses expects to shut down in the next five years due to rising electricity prices.
The study stresses the negative impact that the government's energy policies are having on businesses, finding that the high price of electricity is undermining businesses' capacity to grow and hire new workers.
In addition to the predicted closures, the OCC states that 38 percent of its business respondents will see their bottom line shrink, with the cost of electricity delaying or cancelling investment in the years to come.
The OCC's report also references the overall rising costs of doing business in Ontario. citing increases to the minimum wage and Workplace Safety and Insurance Board (WSIB) premiums, a review of the Labour Relations Act, the introduction of an Ontario Retirement Pension Plan (ORPP) and the government’s new cap-and-trade system.
"Small businesses are key to our local economy in Perth-Wellington," said Pettapice. "This report should be a wake-up call to the Liberal government that their energy policies have been a complete failure."
"Electricity costs in Ontario are among the highest in North America," commented Pettapiece. "Too many employers have already left the province, and that cannot continue. The government must correct its own failed energy policies to ensure that businesses and jobs remain in Ontario."
