The Canadian Taxpayers Federation is calling on the Ontario government to reject proposals to bail out Laurentian University in light of the institution’s poor financial management.

“Under no circumstances should the Ford government bail out Laurentian University,” said Interim Ontario CTF Director Jay Goldberg. “The university has run deficits for at least seven years. The number of university employees on the sunshine list has grown by 45 per cent in the past ten years, while student tuition costs have grown by 177 per cent over the same timeframe. How can Laurentian University ask for a $100-million taxpayer bailout given this track record?”

Laurentian University announced earlier this year that it intends to close one third of its undergraduate programs to restructure the university and make itself solvent. Several parties, including opposition MPPs, have called on the Ford government to intervene and offer the university a bailout to avoid restructuring.

“Laurentian University has been running deficits for years,” said Goldberg. “Its annual deficit is expected to keep increasing until it hits $22 million in 2025-26. Even if the university’s debts were wiped out tomorrow, Laurentian University would still be losing money.”

The Ford government has said it will not bail out Laurentian University without a third-party financial review, but the Canadian Taxpayers Federation is calling on the Ford government to reject a bailout that rewards financial mismanagement.

“The bottom line is Laurentian University’s financial problems are systemic and no taxpayer bailout can fix the university’s long-term financial problems,” said Goldberg.