(The following editorial was posted on the Vancouver Sun website on November 18.)
VANCOUVER, B.C. — The noise level of nay-sayers seems to be rising as the B.C. Liberals near the hour when they announce their pick for B.C. Rail.
Speculation has it that Victoria could unveil the winner as early as today in the bid for ownership and operation of the train company’s rolling stock.
While Canadian Pacific, OmniTRAX and CN Rail are in the running, most bets are on CN.
But while government and business negotiators have been hammering out a deal in the back rooms, opponents to the sale have been protesting front and centre; particularly the rail’s unionized workers, a number of rural municipal councils and NDP Opposition leader Joy MacPhail.
Yesterday, MacPhail introduced a private member’s bill in the Legislature to block the pending sale of the rolling stock — but considering her almost non-existent support, the motion is little more than a symbolic gesture.
That doesn’t mean the concerns aren’t legitimate. Indeed, many fear resulting job losses, especially if a private sector owner/operator finds inefficiencies in the operations of Canada’s third largest rail company.
Frankly, a sale to the private sector is on the right track; B.C. taxpayers have bailed out the rail line one too many times. And for what? It’s still $500 million in debt.
Selling off the rolling stock but keeping the tracks, railbeds and rights-of-way in public hands strikes a beneficial balance between public and private ownership. Done properly, it could be a win-win situation for us all.
But this requires that the contract between the government and the private sector winning-bidder be of value to B.C. residents as well as shareholders.
And that will only happen if first, the selling price covers the $500 million debt, leaving taxpayers free and clear of monies owing.
Second, and most importantly, the deal has to be tied to iron-clad promises that the successful bidder will use its operation of B.C. Rail to fuel economic development in B.C. — particularly in the central and northern regions. An efficient, profitable freight rail system also carries the potential for growth in rail tourism services.
Indeed, a company with a proven track record and expertise in rail carrier services should produce significant economic benefits to all British Columbians.