P3s don't transfer risks to the private sector
Bank crises drive up costs of private financing.
October 17, 2011: In his Ontario Council of Hospital Unions/CUPE (OCHU) blog, Leftwords: Defending public healthcare, Doug Allan criticizes Ontario's plans to engage in more and more public private partnerships (P3s). He demonstrates how the banking crisis has a double effect on P3 financing.
"A week ago, it became apparent western business and political elites were contemplating a 1 trillion bail out for the mess in the European banking system. Then, by late last week, Bank of Canada president Mark Carney urged 1 trillion in funds or "a little bit more"; he was shortly followed by the British Chancellor who called for 2 trillion. Over the weekend the proposals began stretching up to 3 trillion
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Posted: October 24, 2011
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