Eby neglects history of ICBC
David Eby’s latest comment is that ICBC is in a financial mess. In his comments, he fails to admit that the former NDP Dave Barrett government established taxpayer owned car insurance.
After the NDP government was defeated by the Social Credit party government of Bill Bennett, in 1975-76, the new government had to bail out their government run insurance corporation in the amount of $181 million, just two years after if began operations. At the same time, the NDP ICBC had been so mismanaged, with insurance being sold significantly underpriced, that the new government was forced to increase insurance rates by 25 per cent to bring the corporation back to a profitable margin.
In the courtroom, lawyer David Eby states all facts regarding legal cases, so why does he not list all factors regarding his comments on ICBC, instead of spreading all-out propaganda? Typical of all NDPers not doing any research before making comments. Unbelievable!