A reminder that from the end of the Second World War through 1975, between 20—25 per cent of Canadian public debt was financed and held by the Bank of Canada.
asserted
cent → finance → Canada
During that period, federal government capital expenditure funded highways, bridges, schools, hospitals and yes, even airports.
asserted
expenditure → fund → highways
The government did not go begging for cash from hedge funds.
asserted
government → go → funds
But today, Prime Minister Mark Carney plans to sell off Canada’s major airports and recycle the proceeds for other infrastructure.
asserted
Carney → plan → infrastructure
In other words, investors will get up-and-running projects with established cash flow (where prices can easily be jacked up), whereas Canadians will carry the heavier risk and less profitable investments until mature enough for private owners to buy.
asserted
owners → get → risk
Modern capitalism in action: Corporations get the rewards; Canadians pay the charges and take the risks.
asserted
Canadians → get → risks
Larry Kazdan, Vancouver, B.C.
Is Mark Carney using crisis as an opportunity to privatize and deregulate?
asserted
Carney → use → opportunity
Prime Minister MarkCarney is implementing a nation-building strategy to combat Trump’s tariff generated economic crisis.
asserted
MarkCarney → implement → crisis
It sounds good and so far we’re all on his side.
asserted
we → sound → side
Is it really necessary to reduce Canada’s climate protections?
asserted
it → reduce → protections
Must we overlook environmental implications to boost oil production?
asserted
we → overlook → production
Should Indigenous rights be sidelined?
asserted
rights → sideline → ?
Are corporate tax rates needed to be lowered to 6.4 per cent?
asserted
rates → need → cent
Must we privatize our airports?
asserted
we → privatize → airports
Do we really need a trillion dollar investment from outside players?
asserted
we → need → players
It seems to me that Carney has read Naomi Klein’s book, “The Shock Doctrine.”
asserted
Carney → seem → book
Its central idea suggests how a crisis can be used to increase privatizations and reduce regulations.
uncertain
crisis → suggest → regulations
Maybe I’m just too cynical but I certainly hope this is not his underlying motivation.
asserted
this → ’m → ?
John Selmys, Toronto
Privatizing airports is a big mistake — just look at Hydro One
Prime Minister Mark Carney says he is selling our public airports but keeping the land beneath them.
asserted
he → privatize → them
That’s like selling an art museum with millions of dollars in art for a bargain price but keeping the land the museum sits on.
asserted
museum → ’ → land
Carney says he is “unlocking” the value of our public airports.
asserted
he → say → airports
Then says he is going to reinvest that money in other important infrastructure.
asserted
he → say → infrastructure
We heard the exact same argument and plan when then Ontario premier Kathleen Wynne privatized Hydro One and sent hydro rates through the roof.
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Wynne → hear → roof
It used to be, privatization was only done by Conservatives.
asserted
privatization → use → Conservatives
Now our public assets will be used to maximize profits for corporations.
asserted
assets → use → corporations
There is no free money, investors expect a good return.
asserted
investors → be → return
Given the failures and dismal record of public asset privatization here in Canada and around the world, it is astonishing that Carney continues to promote privatization of public assets and infrastructure.
asserted
Carney → give → assets
Carney is engaging in public relations propaganda to pretty up profit, selling the myth it’s a beneficial way to finance infrastructure.
asserted
it → engage → infrastructure
The privatization of long-term-care homes where many died from neglect during the pandemic and Highway 407 and Hydro One has left the people of Ontario with no appetite for any more privatization of public assets.
asserted
many → die → assets
The privatization of Connaught labs by then prime minister Brian Mulroney also hurt us severely during the pandemic.
asserted
privatization → hurt → pandemic
The privatization of rail, electricity and water and hospitals along with Brexit has made the UK’s economy a complete disaster.
asserted
economy → make → Brexit
During both World Wars and the Great Depression governments did not privatize public assets.
asserted
governments → privatize → assets
They wisely kept them and we worked our way out of those terrible times with a robust public sector and non-profit public enterprise.
asserted
we → keep → sector
Carney and his Liberal caucus need to be reminded that the provincial Liberals were sent to the political wilderness for three elections in a row for their sale of Hydro One and the resulting rate crisis.
asserted
Liberals → need → Hydro
Privatizing airports is a really big mistake.
asserted
Privatizing → privatize → airports
The same goes for seaports.
asserted
same → go → seaports
Paul Kahnert, Marham, ON
Selling airports is an ill conceived idea
This article mentions a $19 drop-off-fee at London’s Gatwick Airport.
asserted
article → conceive → Airport
Gatwick is privately owned.
asserted
Gatwick → own → ?
What could that look like here?
uncertain
that → look → What
If you took the UP Express train to Toronto’s Pearson International Airport, would you be charged a drop off fee?
asserted
you → take → fee
…and 16 more, not listed.
The Aporia
