this post was submitted on 08 Sep 2023
4 points (64.3% liked)
CanadaPolitics
1895 readers
3 users here now
Placeholder for any r/CanadaPolitics refugees
Rules:
All of Lemmy.ca's rules apply
- No bigotry - including racism, sexism, ableism, homophobia, transphobia, or xenophobia.
- Be respectful. Everyone should feel welcome here.
- No porn.
- No Ads / Spamming.
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
The property was leased. The government still owns that 10x increase in value.
When I wrote that, I knew someone was going to come out of the woodwork and say the highway was not technically sold, so I was trying to be careful with the wording. Not careful enough I guess. Yes, you’re right, it was the rights to a 99 year lease that were sold.
But no, it wasn’t just a lease, it was the right to a lease, which is indeed technically a kind of sale, not a lease per se. This is evidenced by the fact that SNC-Lavalin recently sold 10% of those rights for $3B, which pegs the current value of the entirety of those rights at $30B, 10 times what the Harris government originally sold them for.