McGuinty Proposes Partial Sale Of Crown Assets
Posted June 23, 2010 11:50 am.
This article is more than 5 years old.
A smattering of Ontario workers gathered at York University on Wednesday to protest what they’re calling a “super scam” by the Liberal government.
As Ontario cabinet ministers arrived for a meeting at the university’s Glendon College, about a dozen workers from Ontario Power Generation, Hydro One, Ontario Lottery and Gaming Corporation and the Liquor Control Board of Ontario picketed the area, urging them not to “fry our golden eggs.”
Premier Dalton McGuinty is considering bundling the province’s electricity, lottery and liquor assets into a SuperCorporation and selling part of the new entity to private investors.
That cash would then be used to pay down a deficit which has ballooned to $20 billion this year.
The unions involved say the four Crown corporations make about $4 billion a year for the province and selling them could lead to complete privatization in the future.
With files from the Canadian Press
