A report by Canadians for Tax Fairness Bay Street and Tax Havens revealed how over 90% of Canada’s largest corporations have subsidiaries in tax havens.
Both Serco and G4S operate privatized services in Canada where wrong doing could have very serious consequences.
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.
Low- or middle-income Canadians who falsely claim too much from government programs will find themselves in court faster than you can say “P3 privatization scheme,” but large corporations walk away with millions and barely get a slap on the wrist.
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.
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.