On November 1st, Federal Finance Minister Bill Morneau released the federal government's Economic and Fiscal Update. PSAC is concerned that the government is promoting the privatization of public services.
The plan opens the door to major new projects being financed and operated by the private sector and the privatization of existing federal public infrastructure.
Privatization costs more
“Privatizing important public services has already been shown time and time again to cost the public more money and reduce accountability and the quality of services,” said Robyn Benson, PSAC National President.
While government investments in infrastructure are good, privatizing those investments will cost the Canadian public far more than if the investments were all public. Future generations will be subsidizing private investors for years to come.
Public investment is best
The update contains some good news, such as strengthening the independence of the Office of the Parliamentary Budget Officer and the Chief Statistician, and making investments in infrastructure.
“This government should be focused on improving and investing in quality public services and public infrastructure that benefit all Canadians, rather than handing over our resources to private, for-profit interests,” said Benson.