Monday, December 21, 2009

Too Much Profit?

The Globe & Mail reports that the Ontario Government is considering selling all or part of some of our Crown Corporations. One of these is the LCBO. The LCBO's revenue in 2008 was reported to be $4.3 Billion and yielded a whopping Net Profit of $1.4 billion or32.5% of revenues. AND this does not include the duties and taxes that are payable to the Federal Government! Whilst the LCBO may serve residents of Ontario well, it is a monopoly and has no competition. I only wish that private enterprise like Interwood could show even a quarter of the % return of the LCBO! The total amount of money paid to all levels of Government needs to be published and every resident and tax payer in Ontario needs to see and understand the contribution that the users of the LCBO make to funding our various levels of governments!

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