Finance minister vows to help U.S. Steel Canada pensioners

Ontario finance minister Charles Sousa spoke today about the U.S. Steel Canada situation, and how the province plans on helping those affected.

“We are going to be working very closely with the company and more importantly the individuals, retirees and the employees. We want to make certain that they are protected as best they can under the circumstances.”

“I’ll be sitting down and working very closely with them to ensure that the individuals that are affected by this situation are protected. We are going to do our best to help them.”

U.S. Steel Canada filed for bankruptcy protection on Tuesday, saying it had lost $2.4 billion over the past 5 years.

Members of United Steelworkers Local 1005 will be holding a news conference just after 4 o’clock. CHCH News will bring that to you live when it gets underway.

Sousa’s comments came as he announced a new green bond program. It’s intended to help finance transit and other environmentally-friendly infrastructure projects across the province.

The Eglinton crosstown LRT has been selected as the green project that will receive funding from the inaugural issue, which is expected to be up to $500 million in size.