In an article in the Globe and Mail, it appears that the Ontario government is tossing around the idea of selling off many Crown corporations in an effort to bring down the $24.7 - billion deficit. Perhaps, this is just a balloon being floated out to see how much public outcry they receive.
Some of the corporations named are Ontario Power Generation, Hydro One, LCBO, and the OLG. These Crown corporations have been a money maker for the Ontario government for many years. In some cases, they have also been a money pit for the tax payers of Ontario. Many money spending issues have come out into the open over the past several years, putting many of these organizations in a bad light to many.
The latest one being the OLG and before that the E-Health scandal, commonly known as "Muffingate". I think instead of selling off these corporations, the government should keep a tighter reign on spending habits and actual benchmarks.
This appears to be a sign of desperation coming from the Ontario government because they realize what a mess they have made in the province. I'm afraid that selling precious Crown corporations will only put Ontario in a worse position.
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I had just heard this news the other day and was not really surprised that Dalton and his crew were trying to dismantle Ontario Government assets in a frantic move to generate more cash flow. To be honest I never liked or voted for this guy, people used to mock me when I voted for Mike Harris and Ernie Eves back in the day. At least they had a grip on the fiscal reality of the province and the knowledge of not spending money that you just don't have... Simple economics! We are entering a new decade with such uncertainty and people as slipping more and more below the poverty line in staggering numbers. It is scary that a government body had to resort to this cheap tactic to save face for their own economic blunder.
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