Thursday, 13 June 2013

AECL to cost $236M more than expected this year

AECL to cost $236M more than expected this year: "A new report from the parliamentary budget officer shows Atomic Energy of Canada Ltd. continues to be a drain on the public purse.
The parliamentary budget officer's latest analysis of the government's spending estimates shows the Crown corporation will cost the public purse an additional $236 million this year, bringing the total to $362 million for 2013-14.
The additional money is for AECL's research and development program.
The federal budget watchdog says although Ottawa's support for the troubled nuclear agency has decreased by 60 per cent over the last four years, the booked savings in terms of direct support for operations is misleading.
At the same time, AECL's losses have ballooned: from $300 million in 2009-10 to $3 billion over the first three quarters of 2012-13.
"As a wholly owned Crown corporation, the government of Canada is ultimately responsible for AECL's liabilities," the PBO points out.
The government is in the midst of restructuring AECL and decommissioning some of its facilities. It sold the agency's sales and service division two years ago to the SNC-Lavalin Group for $15 million, and is seeking private contractors to clean up nuclear waste and operate the Chalk River facility, which produces medical isotopes."

...and here the story at macleans:

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