Skip to main content

The Globe and Mail

Too early to say how Ontario will raise $3-billion from asset sales, Wynne says

Ontario's Premier Kathleen Wynne, left, sits with Finance Minister Charles Sousa as they attend the Throne Speech at Queens Park in Toronto on Thursday, July 3, 2014.

Chris young/The Canadian Press

Ontario's Liberals are counting on $3-billion from the sale of government assets, but Premier Kathleen Wynne says it's too early to provide specifics on what could be sold.

The Liberals want to "optimize" the value of Ontario Power Generation, Hydro One and the Liquor Control Board, which could involve inviting pension funds to invest in the agencies but retaining public ownership.

The New Democrats are worried about "a fire sale" of provincial assets, and claim the government plans a whole or partial sale of the LCBO and the hydro utilities.

Story continues below advertisement

But Wynne says she's still waiting for an advisory council on government assets to make its recommendations, and can't offer any details at this point.

New Democrat Peter Tabuns says the Liberal campaign platform stated they planned to raise $3.15-billion from asset sales, so they should know how much they expect to get from selling the LCBO, OPG or Hydro One.

Interim Progressive Conservative Leader Jim Wilson says there is money tied up in the provincial agencies that could be used to fund services or reduce the deficit, but adds the government should remain the majority shareholder in each case.

Report an error

The Globe invites you to share your views. Please stay on topic and be respectful to everyone. For more information on our commenting policies and how our community-based moderation works, please read our Community Guidelines and our Terms and Conditions.

We’ve made some technical updates to our commenting software. If you are experiencing any issues posting comments, simply log out and log back in.

Discussion loading… ✨