The Incoming Privatization Assault

[ckaihatsu]

Banking on Privatization: the Canada Infrastructure Bank


~~~~~~~~~~~~~~(((( T h e B u l l e t ))))~~~~~~~~~~~~~~~
A Socialist Project e-bulletin .... No. 1436 .... June 21, 2017
__________________________________________________ __

Banking on Privatization: the Canada Infrastructure Bank (https://socialistproject.ca/bullet/1436.php)

Canadian Union of Public Employees

The Liberal government is promoting the Canada Infrastructure Bank as a new way to provide financing for public infrastructure. But it’s really a new and dangerous way for corporations to profit from public infrastructure and services. The bank will allow corporations and private lenders unprecedented access to -- and power over -- the infrastructure that keeps our communities safe and makes them great places to live.

The Canada Infrastructure Bank (CIB) will support projects that generate revenue for private lenders and corporations, including water and wastewater systems, public transit, roads and electrical utilities. Privatization will lead to higher user fees and tolls. It will also divert significant public funds away from building and maintaining public facilities, and into private, for-profit pockets.

The Liberals introduced legislation to create the bank on April 11, 2017 as part of the omnibus budget bill. The bank is expected to be up and running in late 2017. CUPE presented briefs opposing the bank at two House of Commons committees, as well as submitting a brief to the Senate committee studying the bank. Our research shows the bank’s for-profit motive could double the costs of building infrastructure, increase the privatization of public infrastructure and impose higher fees and tolls on the public. Privatization will also put pressure on the wages and working conditions of CUPE members who work in the sectors being targeted by the bank, such as public utilities and transportation.

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[ckaihatsu]

via socialistproject.ca (http://www.socialistproject.ca[/url)

http://socialistproject.ca/go3407.jpgDuring the 2015 federal election, the Liberals promised to establish a federal infrastructure bank to provide low-cost financing to municipalities. However, in the Fall Economic Statement, they proposed that it rely largely on private institutional finance. The federal budget, to be released on March 22, is expected to provide more details of the government's plans in this area. This study finds that private financing of the proposed Canada Infrastructure Bank could double the cost of infrastructure projects -- adding $150-billion or more in additional financing costs on the $140-billion of anticipated investments.

More... (https://socialistproject.ca/go.php?id=3407)

[ckaihatsu]

via socialistproject.ca (http://www.socialistproject.ca[/url)

http://socialistproject.ca/bullet/b1436.jpgThe Liberal government is promoting the Canada Infrastructure Bank as a new way to provide financing for public infrastructure. But it’s really a new and dangerous way for corporations to profit from public infrastructure and services. The bank will allow corporations and private lenders unprecedented access to - and power over - the infrastructure that keeps our communities safe and makes them great places to live. The Canada Infrastructure Bank (CIB) will support projects that generate revenue for private lenders and corporations, including water and wastewater systems, public transit, roads and electrical utilities.

More... (https://socialistproject.ca/bullet/1436.php)

[ckaihatsu]

Get ready for everything from private infrastructure and private prisons to voucherized schools and Medicaid.


More... (http://prospect.org/article/incoming-privatization-assault)

[TomLeftist]

Yeah, since Canada is an elitist stuck-up society, poor people still vote for capitalist parties there. What a stupid society, where pride is more important than economic progress. Like Napoleon said


Banking on Privatization: the Canada Infrastructure Bank


~~~~~~~~~~~~~~(((( T h e B u l l e t ))))~~~~~~~~~~~~~~~
A Socialist Project e-bulletin .... No. 1436 .... June 21, 2017
__________________________________________________ __

Banking on Privatization: the Canada Infrastructure Bank (https://socialistproject.ca/bullet/1436.php)

Canadian Union of Public Employees

The Liberal government is promoting the Canada Infrastructure Bank as a new way to provide financing for public infrastructure. But it’s really a new and dangerous way for corporations to profit from public infrastructure and services. The bank will allow corporations and private lenders unprecedented access to -- and power over -- the infrastructure that keeps our communities safe and makes them great places to live.

The Canada Infrastructure Bank (CIB) will support projects that generate revenue for private lenders and corporations, including water and wastewater systems, public transit, roads and electrical utilities. Privatization will lead to higher user fees and tolls. It will also divert significant public funds away from building and maintaining public facilities, and into private, for-profit pockets.

The Liberals introduced legislation to create the bank on April 11, 2017 as part of the omnibus budget bill. The bank is expected to be up and running in late 2017. CUPE presented briefs opposing the bank at two House of Commons committees, as well as submitting a brief to the Senate committee studying the bank. Our research shows the bank’s for-profit motive could double the costs of building infrastructure, increase the privatization of public infrastructure and impose higher fees and tolls on the public. Privatization will also put pressure on the wages and working conditions of CUPE members who work in the sectors being targeted by the bank, such as public utilities and transportation.

Continue reading (https://socialistproject.ca/bullet/1436.php#continue)

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~~~~~~~~~~~~~~~~(((( T h e B u l l e t ))))~~~~~~~~~~~~~~~~
The Bullet is produced by the Socialist Project. Readers are
encouraged to distribute widely. Comments, criticisms and
suggestions are welcome. Write to [email protected]

If you wish to subscribe

The Bullet archive is available at socialistproject.ca/bullet
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[ckaihatsu]

The federal government has posted a job ad for a CEO for the recently announced 'Canada Infrastructure Bank.' In the House of Commons, the Liberals shoved the proposal for this new agency into an omnibus bill, Stephen Harper-style.


More... (http://spacing.ca/national/2017/06/20/op-ed-canada-need-federal-infrastructure-agency)

[ckaihatsu]

via socialistproject.ca (http://www.socialistproject.ca[/url)

http://socialistproject.ca/go3410.jpgReclaiming Public Services is vital reading for anyone interested in the future of local, democratic services like energy, water and health care. This is an in-depth world tour of new initiatives in public ownership and the variety of approaches to deprivatisation. From New Delhi to Barcelona, from Argentina to Germany, thousands of politicians, public officials, workers, unions and social movements are reclaiming or creating public services to address people’s basic needs and respond to environmental challenges.

More... (https://socialistproject.ca/go.php?id=3410)

[ckaihatsu]

The federal government owns 26 airports across Canada. The airports are privately managed by non?profit airport authorities that pay rent to the government and reinvest revenues back into the facilities.


More... (https://cupe.ca/privatized-airports-will-disaster-land-canada)

[willowtooth]

Is it because people dont want to pay taxes to build their airports so they're so desperate for funding that they're relinquishing control to the private debt markets? Starve the beast strategy doesn't cut funding or push for privatization what it does is reduce the taxes that are paid. So that the people in charge can no longer adequately fund things like a not-for-profit airport, and are left with only two decisions, shutdown every airport in the country or reach out to private investors usually in the form of issuing government bonds (tax exempt bonds of course). The sheer amount of pennypinching, and budget cutting has probably left billions if not trillions in repairs and maintenance unfunded and "pushed down the line", not including expanding the airports and building new ones something I'm sure Canada desperately needs. '

This tax bill could be more than the entire GDP of Canada since we might be talking about 50+ years of being underfunded. If I tell the public we need $5 trillion for airports, we can either raise all your taxes to pay this bill or we can call wall street and a team of investors will happily foot the bill, which option are they going to pick or "vote for"

But I'm just drawing parallels, does this sound like what's going on with the Canadian infrastructure bank?

[ckaihatsu]

via wsws.org (http://www.wsws.org)

Endorsement of the agreement opens the way for an acceleration of the destructive pro-market agenda that has created a systemic crisis in public education.

More... (http://www.wsws.org/en/articles/2017/07/01/vote-j01.html)