Liberal sell-off of Service Nova Scotia a big corporate handout
July 21, 2015
Nova Scotians could lose hundreds of millions of dollars in future revenue, which could be used to fund health care and education, if the McNeil government moves ahead with its plan to sell off Service Nova Scotia.
“What we’ve seen in the past, not only in Nova Scotia, but in other provinces, is that over the long run privatization costs more and delivers less,” says MacDonald. “With the government openly talking about a 30-50 year agreement, this deal would provide short term revenue to Stephen McNeil heading into an election and long term costs for everyone else.”
Today Service Nova Scotia Minister Mark Furey announced his intention to seek out a private company to manage three registries – motor vehicles, joint stock companies and land.
“Today in the technical briefing, Service Nova Scotia staff indicated the Department of Motor Vehicles brings in more than $120 million a year in revenue and they are considering selling it off for a fraction of that price,” says MacDonald. “This would be the biggest corporate handout since the Conservatives privatized Nova Scotia Power and it could cost Nova Scotians millions in revenue on an annual basis for decades to come.”