This Leftist Ontario PC Idea Will Hurt Your Investments
"An impressive effort conspicuous for a lack of the kind of analysis you would normally find when policy recommendations are being put forward."
That's the sharp rebuke the former head of the Ontario Securities Commission, Ed Waitzer, gave the "final report" of the Doug Ford PC government's "task force" on "modernizing" Ontario's stock market. The "task force" was led by Bay Street lawyer and Erin O'Toole's campaign chair, Walied Soliman.
Soliman's report calls for the Ontario PC government to mandate diversity quotas for the boards and executive management teams of every single business listed on the Toronto stock market. He also wants to implement 12 year maximum tenure limits for directors of those companies.
No other left wing Liberal or NDP government in Canada has ever recommended such a proposal. It took an Ontario PC Party led by left wing ideologues and lobbyists, hiding under COVID-19, to put such a recommendation forward.
Last November, during Question Period at the Ontario legislature, former Finance Minister Rod Phillips refused to rule out Soliman's proposal when he was put on the spot by New Blue MPP Belinda Karahalios. Click on the image below to watch the exchange.
Rod Phillips won't say NO to Soliman's Left Wing Proposal.
Soliman's recommendations are not only junk but they area also dangerous to our economy.
On Thursday, I will share with you research studies that have shown government mandated "diversity" quotas hurt the performance of the companies impacted.
No Ontario government - especially a supposedly "centre-right" government - should be telling shareholders who should run their business.
But that's the Ontario PC Party - beyond redemption, too far to the left, and far too corrupt.