Murphy’s Law For PEI Taxpayers

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4 Responses to Murphy’s Law For PEI Taxpayers

  1. Anonymous says:

    Loans are repaid. they are not gifts

    • Dear Anonymous: I didn’t say loans are gifts in the above article so I’m not sure what point you are making….I think it is obvious that loans are not gifts or “grants” (e.g., totally free money). However, it is worth pointing out that sometimes – in fact far too often – government loans turn into total gifts. For the 2013-14 fiscal year, for example, the board of directors of Finance P.E.I. authorized the cancellation of 3.7 million of government loans.

      With as much wealth and collateral as the Murphys have, surely they would not have a problem borrowing from the banks, so why are they routinely borrowing from taxpayers? The terms and conditions aren’t disclosed in the executive council orders, but you can be sure they’re getting far more favourable interest rates (if they’re paying interest at all) and receiving other preferable terms and conditions than they would get from chartered banks, so whatever amount of money they are “saving” from not having to borrow from banks (like other Islanders and most Island businesses must do) you can accurately call a “gift” .

  2. Phil says:

    The swamp is deep! Great work Kevin. I always look forward to your views. As they’re well researched and have what would be called “truth” attached to them. It’ll soon be time to change the guard here on PEI.

  3. Anonymous says:

    I wonder if I could get a loan to get a new roof!? Oh wait I’m the working poor/ taxpayer that is funding those (loans). Guess I’ll live with my leaky roof.

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