More than $4 million per job. That’s how much Prime Minister Justin Trudeau has committed taxpayers to spending in his sweetheart deal with a German auto giant.
And what happens if Toyota is looking to build a new plant and wants its own multi-billion-dollar handout? What about Honda? Ferrari?
Keep in mind Volkswagen’s profits were over $33 billion last year. That’s a huge amount of money. Volkswagen’s profits are bigger than the individual provincial budgets of Saskatchewan, Manitoba, New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland and Labrador.Article content A key consequence of corporate welfare is that it’s addictive. Remember good old Bombardier? A one-time corporate giveaway has turned into decades of government handouts. Corporate welfare is easy to start, but dependency is difficult to end.We apologize, but this video has failed to load.The Trudeau government is running a $40-billion deficit with no plan to ever balance the budget. It’s already spending nearly $44 billion on debt interest charges this year alone.
Instead of raising carbon taxes, payroll taxes and alcohol taxes then giving a bag of cash to a hand-picked business, Trudeau should cut taxes across the board and cut out corporate welfare.
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