TORONTO -
The Ontario government says it's worried the province would lose 85,000 jobs if General Motors is allowed to fail.
The dire warning comes as GM files for bankruptcy protection in the U.S. and details of GM's Canadian plan are revealed.
Canadian taxpayers are expected to end up owning 12 per cent of a restructured GM, in return for providing the troubled automaker with a reported US$9 billion in financing.
Prime Minister Harper and Ontario Premier Dalton McGuinty will announce details of the plan in Toronto at 1 p.m.
Ontario's Liberal government would not confirm before then how much the province will pay for its stake.
The U.S. government would hold 60 per cent of the new, slimmer General Motors when it emerges from bankruptcy protection.
Canadian Auto Workers union president Ken Lewenza says GM plans to keep its Canadian operations running during the restructuring, but that has not been confirmed by the company.
