The Economic Club of Canada

The Economic Club of Canada

May 17, 2012 06:00 ET

Dr. Mark Milke to Address Economic Club

OTTAWA, ONTARIO--(Marketwire - May 17, 2012) - In 1976, the Alberta government told an Edmonton farmer his private land was to be turned into a park and offered him a pittance for compensation; it was only in court years later that the province was forced to admit it actually wanted his land for a highway - which would have triggered much higher compensation. In Vancouver in 2000, the City told the Canadian Pacific Railway that CPR land was henceforth to be a public space - and that no compensation would ever be paid; six years later, the Supreme Court of Canada endorsed the de facto confiscation. In Ottawa, in 2005, the City decreed that property owners with newly-designated wetlands will not be compensated for a reduction in property values. What do these three cases - two from private landowners with limited resources and one from a corporation with much deeper pockets - have in common? All are examples of how government regulation can and does restrict the use of property to such an extent that such restrictions are akin to expropriation. Except that when governments use regulation to seize property, compensation is often small or in most cases, non-existent. There is a way out of such undesirable policy. Countries such as Sweden, Finland, Germany, Holland, Israel and others much more fairly treat private property owners, including compensation for regulations that "freeze" one's property. They hold promise for reform within Canada.

WHO: Dr. Mark Milke
Senior Fellow
Fraser Institute
WHAT: Address to the Economic Club of Canada
"Stealth Confiscation: How Canada's Government regulates, freezes, and devalues private property - without compensation"
DATE: Thursday, May 17th, 2012
TIME: 11:45 am-1:30 pm
WHERE: The Fairmont Chateau Laurier
1 Rideau Street, Ottawa.

Contact Information