By ANTONELLA ARTUSO and JONATHAN JENKINS, Queen's Park Bureau
What Premier Dalton McGuinty once derided as a "fire sale" is now on the table.
Ontario is now taking a hard look at selling off such assets as Hydro One, Ontario Power Generation and its lotteries and liquor arms.
"We've got a responsibility to take a look at all of our assets, to make sure we're getting the best bang for the buck," McGuinty said. "Especially now in the context of a global recession and a significant deficit and our shared responsibility to find our way forward."
The premier - who campaigned aggressively against the Progressive Conservative government's privatization plans when he was in opposition - said he still committed to public power.
He declined to clarify whether that meant Ontario's extensive hydroelectric capacity would be sold or not.
"You're asking me to speculate and I'm not going to do that," he said.
New Democratic Party Leader Andrea Horwath said selling off public assets is a disastrous idea that will cost Ontario in the long run.
"It's quick cash but you wind up paying through the nose everyday," Horwath said. "This government is reaching into the past for a tired old idea that doesn't work."
Just last week Finance Minister Dwight Duncan stood up in the Legislature and savaged the PCs for having sold off Highway 407 to a private company that can now raise its toll rates at will.
"It's a bit like Abbott and Costello - Who's on First," Horwath said. "They have no mandate for selling off public assets."
Tory MPP Peter Shurman said McGuinty is using a fire sale approach to resolve a $25-billion deficit of his own making.
"He can't handle money," Shurman said. "Give this guy money and he throws it away."