If the proposed accounting standards mean the full costs of P3 accounting schemes will have to be reported, it will be a major step forward. Unfortunately, there is good reason to be worried that won’t happen.
The recent decision not to use P3s for the redevelopment of the two Cape Breton hospitals shows decisions to privatize public services can be reversed.
The value-for-money reports that Alberta Infrastructure produced in the past to justify using P3 privatization schemes for schools took secrecy to a new level.
The secrecy and manipulation the report describes are all too typical of P3s and other privatization schemes.
It’s a measure of how much secrecy surrounds P3 privatization schemes that councillors weren’t even allowed to know if the companies being awarded contracts had met the minimum technical requirements.
As long as the federal government continues to take a hands-off approach to the economy and to use P3s and other privatization schemes, there is a good possibility we will see a repeat of the SNC-Lavalin scandal. What’s needed is a change in direction.
In the MUHC P3 case, the secrecy surrounding privatization schemes may have been the getaway car that allows those responsible for paying the bribe to escape.
What's being done in Britain will look very familiar to Ontario residents who saw how P3 privatization schemes were rebranded in that province.
It’s so common for politicians who privatized public services when in office to be hired by companies that profit from privatization after they retire that it rarely gets questioned.
Last month saw the second conviction related to allegations that SNC-Lavalin executives paid $22.5 million in bribes to get the contract for a P3 privatization scheme.