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Public Money Channelled into Tax Havens

9 November 2012

An investigative report by the Globe and Mail has revealed that much of the $190-million the Ontario government paid in compensation to scrap a controversial power plant went to hedge funds in the Cayman Islands and the United States.  The money was to supposedly to cover a controversial loan that was part of the public-private partnership. But the payout was more than twice the amount borrowed.  

Public moneys going into public- private partnerships  are increasingly being channeled into tax havens.