Provincial PC Environment Critic Lisa Thompson says the environment minister has admitted they expect fluctuations in cap and trade revenues.
But Huron Bruce MPP Thompson says the provincial government is going ahead and committing more than a billion dollars in spending.
She says so far they haven't raised a dime, but have promised to spend $1.2-billion on pet projects.
"The government has already promised to spend $1.2-billion in cap-and-trade funds on a laundry list of Liberal pet-projects - without even raising a dime," Thompson said in Question Period yesterday. "I find it unbelievable that the Liberals are willing to write billion-dollar cheques without knowing how much money they'll have in the bank."
She adds California and Quebec's cap and trade auctions last month crashed, with just 11% of allowances sold. She says California expected to raise $500-million, but raised only $10-million. The state is now scrambling for cash after committing funding for light rail transit.
Thompson feels Minister Murray is aloof despite expecting funding shortfalls.
He told TVO on Wednesday, "We know in the earlier years, until the market is mature, you'll see more dramatic swings."
"When you don't know if you'll have the money, how can you commit to spend it?" Thompson said. "If Ontario's first auction crashes, like California and Quebec's did last month, we know what the result will be for taxpayers: either more debt or more taxes."
