WINDSOR

Province sets up advisory panel to look at raising money from key public assets

The Canadian Press Published Friday, April 11, 2014 2:01PM EDT

Ontario Premier Kathleen Wynne (left) and Finance Minister Charles Sousa applaud asLieutenant Governor David Onley delivers the throne speech at the Ontario Legislature in Toronto on Tuesday February 19, 2013. (THE CANADIAN PRESS/Chris Young)

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TORONTO - Ontario's Liberal government is setting up another advisory panel to study ways of getting the most value out of key public assets such as its hydro and lottery companies.

The panel will look at ways to improve efficiencies and get better returns for taxpayers out of Ontario Lottery and Gaming Corp., Ontario Power Generation and Hydro One.

The government will also sell the headquarters of the LCBO and will consider selling the OPG building in downtown Toronto as it tries to raise badly needed money.

The panel will be chaired by Ed Clark, president of TD Bank Group, and includes members of all three parties.

Finance Minister Charles Sousa told the Economic Club of Toronto that Ontario has a range of other assets too, including shares in General Motors, a large real estate portfolio and Crown corporations.

Sousa said the panel will help determine what businesses the government should own and what it shouldn't, but added "continuing public ownership remains a key priority."