Protecting steel plant pensions
CTV Northern Ontario
Published Tuesday, October 23, 2018 1:10PM EDT
Last Updated Tuesday, October 23, 2018 6:14PM EDT
Premier Doug Ford is in Sault Ste. Marie Tuesday to show his government's support for the Algoma steel plant.
Ford says his party will take action on pension obligations to help Algoma and says the province will back pension obligations laid out in the Pension Benefits Act in order to allow Algoma to exit creditor protection and restructure the company.
At the same time, Ford says this move will continue to support thousands of employees and pensioners.
Algoma's pension plans involve approximately 2,100 current and 6,300 former or retired employees.
Ford also took the occasion in Sault Ste. Marie to re-iterate his opposition to the carbon tax.
He has thrown out the Liberal plan to tax polluters and offer incentives to people on house renovations and hybrid cars, calling it nothing more than a tax grab.