Canada lends Volkswagen $526 million to expand operations in U.S. and Mexico


tay
#1
Union condemns federal agency for lending Volkswagen $526 million to expand operations in U.S. and Mexico




Unifor issued a statement Friday saying it’s “absolutely incredible” that Export Development Canada is helping facilitate the migration of the auto industry to Mexico.


Unifor president Jerry Dias says there is no guarantee that the loan will benefit Canada.


In a statement earlier this week, EDC said the financing to the German automaker is designed to create opportunities for qualified small and medium-sized Canadian companies to win new business with the global automotive giant.



But Dias says there are no requirements for Volkswagen to buy anything from Canadian auto parts firms.


Dias is calling for Industry Minister James Moore to review EDC’s actions and to prohibit future loans to automakers in other countries.


“If the Canadian government is really interested in supporting the auto parts sector, then it should focus on winning new investments and creating new jobs right here in Canada,” said Dias in a news release.


“It is painfully ironic that we recently lost out on a lucrative engine investment in Windsor by Ford, largely because of inadequate government support. Yet we can somehow find $526 million to help a foreign firm invest in Mexico,” he said in the statement.




Union condemns federal agency for lending Volkswagen $526 million to expand operations in U.S. and Mexico | National Post
 
MHz
#2
Please tell me snow tires will be standard equipment if they are shipping any to Canada.
 
gore0bsessed
#3
lol at the morons who voted conservative. this government doesn't care about you, you're tools.

The Conservative Budget Is 500 Pages of Climate Change DenialÂ*|Â*John McKay
 
petros
#4
What does that have to do with VDub?
 
B00Mer
Republican
#5
I'm guessing a Canadian politician has some shares in VW ..
Last edited by B00Mer; Apr 28th, 2015 at 01:30 PM..
 
coldstream
+2
#6  Top Rated Post
Harper is such a treasonous little slug. A complete incompetent, a shill for the global financial and trading oligarchy.. before which he grovels with shameless abandon. He's quite sure that his parliamentary pension and the corporate board appointments he'll receive after retirement will insulate from the catastrophic economic blowback of his policies.
 
petros
#7
Quote: Originally Posted by B00Mer View Post

I'm guessing a Canadian politician has some shares in VW ..

Or CPP does.
 
darkbeaver
Republican
#8
You must all vote for me next election, I will sit in the office stoned all day, this will save the country billions. You are the country, do yourself and your country a big favour and elect a very small government who know how to roll joints. Are you tired of being governed by boring straight people in debt to bankers? Say no to yes. Pass the ashtray will ya.
 
gore0bsessed
#9
OSHAWA, Ont. — General Motors says it will cut about 1,000 positions from its Oshawa, Ont., manufacturing operations this year as the company plans to spend billions of dollars to boost its U.S. operations.

GM Canada to cut Oshawa assembly workforce by 1,000 jobs this year | Financial Post