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ICBC Dumpster Fire Burns $3.4 billion in five years

Author: Kris Sims 2020/03/10
  • CTF projects huge Dumpster Fire image on ICBC headquarters
  • Running deficit tally climbs up to $3.4 billion
  • Photo Included

VANCOUVER: The Canadian Taxpayers Federation put on a drive-in movie that nobody wanted to see at ICBC headquarters Tuesday night. The CTF projected an image of the ICBC Dumpster Fire and a running tally of how much money the government-forced monopoly has burned through in the past five years onto the side of ICBC’s head office in North Vancouver.

“The ICBC Dumpster Fire has burned through more than $3.4 billion in the last five years, and B.C. politicians need to remember that,” said Kris Sims, B.C. Director of the Canadian Taxpayers Federation, who was on scene at the display. “With this corporation teetering on the brink of insolvency and now taking away an injured driver’s right to sue, things are just getting worse – we need competition in auto insurance now.”

In the most recent provincial budget documents show that ICBC lost:

  • $293,000,000 in 2015-16
  • $612,000,000 in 2016-17
  • $1,327,000,000 in 2017-18
  • $1,153,000,000 in 2018-19
  • $91,000,000 in 2019-20

 

Photos taken by CTF are free for the media to use.