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Crown corporation

From Academic Kids

In Commonwealth countries a Crown corporation is a state-controlled company or enterprise (a public corporation).

Crown corporations, in theory, operate on a day-to-day basis at arm's length from the government. Direct control by government is exerted only over the corporation's budget and the appointment of its chairperson and directors.

In Canada, Crown corporations are operated both by provincial governments and the federal government, as a means to pursue economic and social objectives. Canadian Crown corporations are involved in everything from the distribution, use, and price of certain goods and services, to energy development, resource extraction, public transportation, cultural promotion, and property management. They are also frequently used to give governments access to financial markets to provide financing for development and capital projects.

Two of the most significant Canadian Crown corporations of the 20th century were the Canadian National Railways and Air Canada. Both were privatized and are now private corporations. Other significant Crown corporations include the CBC, VIA Rail, and Marine Atlantic.

Crown corporations are no longer popular instruments of public policy. Their heyday was the period from 1920-1980, particularly under the business-oriented federal "Minister of Everything" Clarence Decatur Howe.

Examples of federal Crown corporations in Canada:

Examples of provincial Crown corporations in Canada:

Several Canadian companies used to be Crown corporations but are now privatized, examples being:

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