ONTARIO'S LIBERAL GOVERNMENT TO SELL SOME ASSETS

Apr 11, 2014

By AM740 Staff

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Ontario is taking a hard look at how to get the most value out of public assets. Finance Minister, Charles Sousa says an advisory panel will look at ways to get better returns for taxpayers. The Liberal government will also sell the headquarter of the LCBO and will consider selling the Ontario Power Generating building in downtown Toronto as it tries to raise cash. The panel will be chaired by Ed Clark, president of TD Bank Group and includes members of all three parties. Sousa says Ontario has a range of other assets, including shares in General Motors, a large real estate portfolio and Crown Corporations. Sousa says the panel will help determine what businesses the government should own and what it shouldn’t. Ontario faces an 11.3-billion dollar deficit and will table a budget May 1. If the minority Liberals are unable to get the spending plan passed in the legislature, Ontario will be plunged into a June election.

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