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Cancelled ferry service could cost N.S. taxpayers under Tory agreement: NDP govt

Published on January 29, 2010; Published on February 24, 2010
The Canadian Press ~ The News

Topics :: Bay Ferries Ltd. , Conservatives , Nova Scotia , HALIFAX , Maine

HALIFAX - A cancelled ferry service between southwestern Nova Scotia and Maine could cost taxpayers in the province millions of dollars.
Percy Paris, Nova Scotia's economic development minister, said Thursday that Bay Ferries Ltd.'s agreement with the former Tory government included $3 million in transition payments if the service shut down.
Unless the high-speed Cat ferry is sold, six monthly payouts of $500,000 will begin April 1.
Paris said the NDP government is legally obligated to honour the agreement.
Last year, the Conservatives announced they would provide Bay Ferries with up to $12 million to keep the ferry afloat.
The transition payments are part of that amount.

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tim

- February 25, 2010 at 00:45:51

There goes most of the savings on building one jail instead of two.

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