Financing for the new P3 hospital in Brampton, Ont., may soon be in place, but a CUPE study says the cost to taxpayers will make it a financial disaster for the province.
William Osler Health Centre and The Healthcare Infrastructure Company of Canada have agreed to build the new P3 hospital with financing expected to be in place by October.
Meanwhile, CUPEs Ontario Council of Hospital Unions and the Ontario Health Coalition released a cost analysis of the P3 hospital contract, finding that the capital cost increased from $350 million to $536 million in two years. A higher borrowing rate will also cost taxpayers $124 million more than if the hospital is financed publicly.
In the last two years, costs for this private hospital have almost doubled. [Ontario Premier] Dalton McGuintys broken election promise to stop the private hospitals will cost taxpayers the entire first two years of new health premiums, if he does not reconsider, OCHU president Michael Hurley said. This is a financial disaster.
The analysis was based on Schedule 28 of the project agreement, which OCHU and the Ontario Health Coalition fought to see. The lease agreement is still withheld from media and public scrutiny.