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Wednesday, September 30, 2015

Ontario PCs blast Liberals for taking $61-million loss on Ontera sale

When the sale of Ontera was announced in late 2012, the numbers simply didn't add up. The unions representing ONTC workers were especially vocal, claiming that the telecommunications division was being undervalued. When the sale was finally approved in the fall of 2014, Bell Aliant acquired Ontera for $6 million, thanks to a government payment of over $50 million. Put simply, the Ontario government decided to sell Ontera - whatever the cost and potential consequences.

A year on, the provincial Tories are claiming that the sale was even more costly than first thought. While the sale garnered $6 million, the consultants who worked on the deal apparently received $6.5 million.

Whenever the government decides to reform the north of the province, things get messy. Throughout the long (and largely futile) attempt to privatise the ONTC, the government has repeatedly lost money while claiming that the sale would save money. In contrast, a properly-subsidised and modern transportation network across the north would ensure a more equitable treatment for people across the province. Of course, politics is rarely about fairness at the moment (despite the overuse of the term in speeches), it is about getting votes and trying not to step on the toes of private corporations.

>>>Ontario PCs blast Liberals for taking $61-million loss on Ontera sale - The Globe and Mail<<<

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