November 2nd, 2016

Read what progressives are saying about Ottawa's latest privatization scheme

They're calling the plan "a major step in the wrong direction" that will "cost more and deliver less"

Yesterday’s fiscal update confirmed that the Finance Minister plans to take $15 billion out of existing infrastructure promises to fund a new privatization bank.

This plan to sell public infrastructure to for-profit investors will leave working families paying more in new user fees and tolls.

Here’s what some of what progressive economists and observers are saying:

“At its core, the federal government’s ‘bold’ new plan for economic growth is strikingly familiar. The scheme, worked out by Finance Minister Bill Morneau’s hand-picked advisory panel, relies on privatization, deregulation, public-private partnerships and user fees.”
—Thomas Walkom, Toronto Star
“This departure from what the Liberals campaigned on puts private capital in the drivers seat, and leaves promised funding for socially useful, non-commercial projects like child care or affordable housing to cash-strapped cities … a major step in the wrong direction.”
—Andrew Jackson, Economist & Senior Advisor to the Broadbent Institute
“Finance Minister Bill Morneau is way too cozy with his corporate-heavy economic advisory council and its plans to sell our infrastructure to for-profit investors. We know this will cost more and deliver less to Canadians.”
—Mark Hancock, CUPE National President
“Instead of investing in Canadian jobs, the Liberals will privatize infrastructure while delaying the vast majority of new investments by another two mandates.”
—Guy Caron, NDP Finance Critic & former CEP economist

Our New Democrat team will continue to fight back against privatization schemes that leave working families paying more but getting less.