Ontario decides against selling LCBO and TV Ontario

'We will not sell public assets in order to pay for the ongoing operation of the government.' - Finance Minister Greg Sobara

Toronto - The Ontario government has decided not to sell its biggest cash cow, the Liquor Control Board of Ontario. Nor will it put TVOntario on the auction block.

In the first budget presented by the province's new Liberal government, Finance Minister Greg Sobara promised Tuesday to abandon one of the most controversial practices pursued by former Tory premiers Mike Harris and Ernie Eves.

"We will not sell public assets in order to pay for the ongoing operation of the government," Sobara declared.

He added:

"We will not use asset sales to hide deficits. What we will do is bring the highest of standards to the strategic management of all our public assets.

"We are going to undertake a thorough review of major provincial assets, to evaluate the appropriate role of each asset, and to ensure effective and efficient management.

"That review will include the Liquor Control Board of Ontario (LCBO), the world's largest distributor of beverage alcohol. Our purpose will be to determine if Ontarians are receiving the maximum benefit from this very significant crown agency.

"But let me be clear. We will not sell the LCBO, nor will we sell TVOntario to pay for the ongoing operation of government. We're not looking to sell anything," Sobara said.

"It is possible that our review may identify assets that are not providing enough ongoing value to Ontarians, but would, if sold, generate substantial revenues that could be used to increase efficiency and promote economic growth.

"In that case, we would explore a potential sale on the basis that any revenues generated would be used for the Change Fund."

More information:
• Ontario's public liquor retail system is the best anywhere

Web posted by NUPGE: 19 May 2004

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