October 22, 2012 / 6:45 PM / in 5 years

Canada not planning to privatize CMHC - official

OTTAWA, Oct 22 (Reuters) - The Canadian government denied on Monday a media report that suggested Ottawa might partially privatize the state-run housing agency, the Canada Mortgage and Housing Corporation Society (CMHC).

The Globe and Mail newspaper published an interview with Finance Minister Jim Flaherty who said the CMHC’s role in the mortgage insurance business meant it had become grander than its original mandate. He also said the government should exit some businesses in five or 10 years.

“Despite what the Globe and Mail said, there are no plans to make that change at this time,” said Junior Finance Minister Ted Menzies.

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