Under the watchful eye of Dalton McGuinty Jr., premier since 2003, the province of Ontario that was once the economic engine of Canada has gone from a “have” to a “have not” province. If that wasn’t enough, Ontario’s large manufacturing base was hit especially hard by the current economic recession. Now Dalton is not content to be premier; he wants to be its CEO.
At a luncheon meeting on Monday at the Canadian Club, Economic Development Minister Michael Bryant announced that the province will begin to invest directly in the province’s businesses. These investments, in the form of loans and grants will come from a $2 billion fund that Ontario will set up. According to the Minister the province will choose “winners and losers” and invest in those that they believe will be the former. Bryant referred to this program as “reverse Reaganism” where the government is not the problem but the solution to everything that ails us.
The next day the premier made a poor attempt at backtracking the Minister’s statement. McGuinty said that he was leery of picking winners. In other words, the province will invest in companies whether or not they appear that they could profit from government intervention. That’s more like the Dalton that we’ve come to know and love.
No doubt this idea stemmed from the fact that Dalton, along with his current best friend Steve in Ottawa are now the proud owners of 2 per cent of Chrysler and now he just can’t resist owning more and more businesses. Given the high level of integration in the North American automobile industry, taking a chunk of Chrysler was inevitable. Tasting ownership, the governing provincial Liberals just have to have more of it.
On the bright side, the Ontario Liberals, like their federal cousins, are devoid of policy and any type of political philosophy. They will do and say anything as long as they believe that it will lead to gaining or keeping power. It’s all about power. At least now, thanks to Michael Bryant, the party actually has a guiding philosophy albeit reverse Reaganism.
It’s understandable why the provincial government feels the need to control private enterprise. Barack Obama’s policies in the United States made the takeover of private business respectable. And why simply be the leader of a democracy when you can lead a totalitarian government that not only picks winners and losers but tells companies what to do and when to do it?
No doubt Dwight Duncan, Ontario’s Minister of Finance will have a crucial role to play in Ontario Inc and Dalton McGuinty should be grateful to have such a brilliant economic mind in his corner as he moves to run the private sector. When the list of civil servants making over $100,000 a year was released recently, Duncan pointed out that these large public sector salaries were good for the economy; the more money Ontario employees make, the more they have to spend and therefore stimulate the economy. With logic like that how can Ontario not regain its status as a “have” province when Dalton finally begins to take control?
McGuinty has already shown that he has a good grasp of the economy and economic issues. By planning to bring the blended sales tax in next year, recession or no recession, he’s shown pure genius. It doesn’t matter that taxpayers will have to pay 7 per cent more on some goods and all services than they do now even if the economy is still in the tank. The government needs the bucks in order to buy businesses run by those pathetic private owners and to pay civil servants enough to stimulate the economy through spending.
It looks like Dalton McGuinty will achieve his true legacy. He will be remembered as Ronald Reagan is now remembered. In reverse of course.
Under the watchful eye of Dalton McGuinty Jr., premier since 2003, the province of Ontario that was once the economic engine of Canada has gone from a “have” to a “have not” province. If that wasn’t enough, Ontario’s large manufacturing base was hit especially hard by the current economic recession. Now Dalton is not content to be premier; he wants to be its CEO.
