The Ontario government is inching along toward privatizing public assets, but has not yet determined what to sell, says Finance Minister Dwight Duncan.

In a major speech Friday at a Canadian Club luncheon at the Fairmont Royal York Hotel, Duncan admitted he was “doing what the spinmeisters call pre-conditioning” on the eve of Monday’s speech from the throne and the provincial budget later this month.

“The upcoming throne speech and budget will not announce the sale of any asset we currently own,” the treasurer told a business audience of about 400 people.

“We will continue to examine whether our government businesses could be unleashed to provide new jobs and economic opportunity for Ontario families,” he said.

That’s an apparent reference to the Liquor Control Board of Ontario booze monopoly, the Ontario Lottery and Gaming Corp. gambling empire, Ontario Power Generation, and Hydro One.

“There are new models for maximizing assets that protect and preserve the public interest,” said Duncan, who is faced with a record $24.7 billion budget deficit.

“It is possible to significantly increase revenue and maintain regulatory control,” he noted.

“The question we’re grappling with is: are our assets being maximized to the advantage of all Ontarians?”

While Premier Dalton McGuinty’s Liberals ran against privatization in the 2003 and 2007 elections, they have embraced private-public partnerships (P3s) to build dozens of new hospitals.

“As we review and research our options, we’ve established a number of principles: government regulation and protection of the services provided to Ontarians are critical,” said Duncan.

“Any changes to the structure of our assets must create jobs and growth,” he said.

“The bottom line is simple: our objective is the long-term interest of all Ontarians.”

Loading... Loading... Loading... Loading... Loading... Loading...

Read more about: