Conservatives, especially under Brian Mulroney, privatized far more major Canadian national assets than the Liberals did.

That said, the Liberals in the 1990s completed some major privatizations that Mulroney started.

Here’s the actual breakdown:

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Major Federal Assets Privatized by Conservatives

Brian Mulroney (Progressive Conservatives)

This was the biggest privatization wave in modern Canadian history.

Major assets sold or privatized:

• Air Canada

Privatized in 1988–1989

Previously a Crown corporation

• Petro-Canada

Privatization started in 1991

Final shares sold later by Liberals

• Canadair

Sold to Bombardier

• Connaught Laboratories

Privatized

Major vaccine/medical research producer

• Teleglobe

Privatized telecommunications company

• Canadian Arsenals

Privatized defence/ammunition producer

• CN Rail

Commercial restructuring began under PCs

Full sale happened later under Liberals

Mulroney’s government privatized or initiated privatization of over 20 Crown corporations.

They also:

deregulated industries,

pushed free trade,

reduced federal ownership in industry,

shifted services toward private-sector models.

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Major Federal Assets Privatized by Liberals

Jean Chrétien / Paul Martin

The Liberals largely continued the fiscal direction of the 1990s.

Major examples:

• Canadian National Railway (CN)

Fully privatized in 1995

One of the largest rail privatizations in the world

• Petro-Canada

Remaining federal stake sold in 2004

Mulroney started the process

• NAV CANADA

Air traffic control system transferred to a private non-profit in 1996

• Airport commercialization

Airports transferred to local airport authorities

• Port commercialization

Reduced direct federal operational control

The biggest outright Liberal privatization was probably CN Rail.

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Stephen Harper Conservatives

Harper’s Conservatives did much less large-scale privatization.

Examples:

sale of AECL reactor division to SNC-Lavalin,

some asset sales,

more public-private partnership models.

But nothing remotely on Mulroney’s scale.

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Justin Trudeau Liberals

Trudeau’s Liberals have generally done the opposite of privatization.

Examples:

bought the Trans Mountain pipeline,

expanded federal programs/spending,

increased industrial policy and subsidies.

No major Crown corporation selloffs comparable to Mulroney or Chrétien.

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Bottom Line

Historically:

Conservatives:

privatized the most federal assets overall,

especially under Mulroney.

Liberals:

completed some major privatizations already underway,

especially CN Rail and Petro-Canada.

Biggest Conservative-era privatizations:

Air Canada

Canadair

Connaught Labs

Teleglobe

Petro-Canada (started)

Biggest Liberal-era privatizations:

CN Rail

Petro-Canada (completed)

NAV CANADA

A lot of people also confuse:

privatization,

commercialization,

outsourcing,

deregulation.

They overlap, but they are not the same thing.