TORONTO, July 12 /CNW/ - The Ontario Public Service Employees Union applauds the announcement by Finance Minister Dwight Duncan that 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 has been scrapped.
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."
For further information: For further information: Don Ford, OPSEU Communications: 416-448-7442