May 27, 2021
Blueprint for Crown Corp Governance Could Improve Performance
- Crown corporations span the country with operations equivalent to 7 percent of Canadian GDP but their performance could be improved by following a blueprint for good governance.
- Together, federal, provincial and local Crowns had annual revenues of $162 billion in 2019, although they generated a small collective net operating loss of $400 million. Federal and provincial Crowns had net assets of nearly $1.4 trillion in 2019, and net worth of almost $22.9 billion. These financial data confirm the significant operating scale of Crowns but the operating deficits suggest that, in many cases, robust overall financial performance is not a top priority for Crowns or their various government shareholders.
- In this report, Glen Hodgson provides a framework setting out a rigorous approach to governance as well as specific governance instruments to help Crowns reach their full potential as business-oriented enterprises.
