“Their position is that they can’t afford to absorb a tax,†the Bay Street titan said in November when his panel released a 77-page interim report, entitled “Retain & Gain: Making Ontario’s Assets Work Better for Taxpayers and Consumers.â€
“If we do decide to charge a franchise fee of some sort (and they say) they don’t have any room, they’re just right up against the wall here and they don’t have a dollar to give . . . we’re saying, ‘Well, then that means you’re really saying is that this franchise that you have is worthless. Would you then give it up?’†said Clark.
“And then they say they don’t want to, but they don’t want to pay for it. We don’t think that’s a reasonable position. If you really think this thing is valueless, then give it up and we’ll auction it off and see if people would pay something for it.â€