Public Values

Activists, opposition force retreat on public asset sell-off in Ontario

"Super-corp" meets a quiet, if temporary, demise.

Selling off all these assets would be short-term gain for long-term pain - Smokey Thomas, OPSEU.TORONTO, July 12, 2010: The Ontario Public Service Employees Union (OPSEU) was one of many organizations that applauded Finance Minister Dwight Duncan's announcement that the province will scrap the planned partial sell off of valuable Crown assets such as the LCBO, Hydro One, Ontario Power Generation and the Ontario Lottery and Gaming Corporation.

OPSEU President Warren (Smokey) Thomas said today that he is glad that McGuinty Liberals have finally realized that selling off assets that generate revenue for the province is, and always will be, a very bad idea.

"Together, these four Crown Corporations earn over $4 billion a year in pure profit for the people of Ontario," Thomas said. "Selling off all or part of these assets would be short-term gain for long-term pain. The government would get a one-time cash injection but lose the revenue stream from those assets. For good."

Denise Davis, Chair of OPSEU's Liquor Board Employees Division representing members at the LCBO, said that any privatization of Ontario's liquor sales is an idea that should be buried forever.

"Every time an Ontario government needs quick cash, they raise the possibility of selling the LCBO," Davis said. "From both a profit and a safety standpoint, it is nothing but a foolish move that would ultimately hurt this province."

Thomas said that despite today's announcement, OPSEU will continue to scrutinize the government's plans in the weeks and months to come.

"Duncan has said his government will be going ahead with the 'restructuring of smaller assets' and won't identify what those assets will be," Thomas said. "We will vigilantly monitor any moves by the McGuinty Liberals to ensure that this 'restructuring' doesn't involve revenue-generating, publicly-owned corporations being stripped away from the people of Ontario."

Links and sources
  Problems force Liberal retreat on SuperCorp

Posted: August 03, 2010

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