Top to bottom overhaul required

Dear editor:

Back in 2010, it was reported that the government of the day was siphoning off $778 million in “surplus” cash from ICBC over the next three years.

Later reports show similar grabs of around $150 million a year.

We see that ICBC spends around $25 million a year on traffic enforcement.

That is the responsibility of the provincial government and simply amounts to another subsidy paid by motorists.

What other insurance companies contribute?

ICBC also has been spending in excess of $5 million annually on advertising. Who in their right mind would spend this amount when you have a monopoly. No advertising is required.

If we add up the province stealing and the gross mismanagement, it is easy to see why the corporation is in trouble.

Paying executives in excess of $45,000 annually in what should be called “mismanagement bonuses” doesn’t create any incentive to do better.

Top to bottom overhaul is required. And the government should repay the stolen cash that went into general revenue. That practise should be illegal. Unfortunately for taxpayers, the government of the day makes the rules.

Looting from BC Hydro is another subject, but the premise is the same. Gord Marshall Kelowna