Time to review corporate welfare

[Locutus]

We have never believed corporations should receive taxpayer handouts on a regular basis.

There is too much room for abuse and too little evidence of benefit.

And we think most Canadians feel the same way.

Sadly, that’s a sentiment few politicians seem to share. It needs to change.

In Tuesday’s papers, the Sun revealed a number of companies that contributed to the Ontario Liberal Party during election years also received substantial funding from the Ontario government.

While there’s nothing illegal about this, the optics are certainly troublesome.


mo


Time to review corporate welfare | EDITORIAL | Editorial | Opinion | Toronto Sun

 

[TenPenny]

That's the problem with all party politics; the corporations are owed big favors by the parties.

 

[Ron in Regina]

The federal Liberal government spent a whopping $11.2 billion on corporate welfare in 2022, giving out billions of dollars of taxpayer cash to wealthy corporations.

In the past few years alone, the feds have teamed up with Queen’s Park to hand out $57 billion to wealthy auto companies like Stellantis, Volkswagen and Honda.

Canadians are sick and tired of paying sky-high taxes, only to find out billions of dollars are being handed to wealthy companies.

Liberal leadership candidates who want to start rebuilding credibility with Canadian taxpayers need to commit to relegating all corporate welfare to the ash heap of history.

JAY GOLDBERG: Liberal leadership candidates must be serious about cutting spending — Toronto Sun

Canadians have soured on the Trudeau government like a jug of long-expired orange juice and one big reason is that spending is out of control. If Liberal leadership candidates want any economic credibility at all, they’d better differentiate themselves from the Trudeau government. And they’d...

apple.news

 

[petros]

The federal Liberal government spent a whopping $11.2 billion on corporate welfare in 2022, giving out billions of dollars of taxpayer cash to wealthy corporations.

In the past few years alone, the feds have teamed up with Queen’s Park to hand out $57 billion to wealthy auto companies like Stellantis, Volkswagen and Honda.

Jap Auto industry is in deep shit.

Japan's auto industry is facing a decline due to a number of factors, including economic slowdown, fraud scandals, and competition from Chinese automakers.

Economic slowdown

• In the first half of 2024, Japanese auto production fell by 10% due to the economic slowdown.

Fraud scandals

• Major Japanese automakers have been involved in certification cheating scandals. Top executives have apologized and taken action, but the scandals have raised concerns about the industry's future.

Competition from Chinese automakers

• Chinese automakers are flooding the world's automotive industry with electric vehicles (EVs).
  
  
• Japanese automakers are losing market share in China, Singapore, Thailand, Malaysia, and Indonesia.
  
  
• Japanese automakers have no similar models to China's EVs, which are booming in popularity.
  

Transition to electric vehicles

• Japanese automakers have prioritized hybrids, but are facing pressure from China's EV giants.
  
  
• Toyota has stuck with selling gasoline-powered cars, even though the trend in China is shifting towards EVs.
  

Other factors

• Nissan has reported a sharp downturn in profit.
• Honda has reported a 15% drop in operating profit.

 

[Taxslave2]

Jap Auto industry is in deep shit.

Japan's auto industry is facing a decline due to a number of factors, including economic slowdown, fraud scandals, and competition from Chinese automakers.

Economic slowdown

• In the first half of 2024, Japanese auto production fell by 10% due to the economic slowdown.

Fraud scandals

• Major Japanese automakers have been involved in certification cheating scandals. Top executives have apologized and taken action, but the scandals have raised concerns about the industry's future.

Competition from Chinese automakers

• Chinese automakers are flooding the world's automotive industry with electric vehicles (EVs).
  
  
• Japanese automakers are losing market share in China, Singapore, Thailand, Malaysia, and Indonesia.
  
  
• Japanese automakers have no similar models to China's EVs, which are booming in popularity.

Transition to electric vehicles

• Japanese automakers have prioritized hybrids, but are facing pressure from China's EV giants.
  
  
• Toyota has stuck with selling gasoline-powered cars, even though the trend in China is shifting towards EVs.

Other factors

• Nissan has reported a sharp downturn in profit.
• Honda has reported a 15% drop in operating profit.

Sometimes you win, sometimes you lose. And life goes on.

 

[Tecumsehsbones]

Sometimes you win, sometimes you lose. And life goes on.

Until it doesn't. But then you don't care, being dead an' all.

 

[Ron in Regina]

The federal Liberal government spent a whopping $11.2 billion on corporate welfare in 2022, giving out billions of dollars of taxpayer cash to wealthy corporations.

In the past few years alone, the feds have teamed up with Queen’s Park to hand out $57 billion to wealthy auto companies like Stellantis, Volkswagen and Honda.

The Feds, as of the last decade = the Liberal Party of Canada with a non-coalition coalition that definitely was not a coalition-type coalition with the NDP.

Canadians are sick and tired of paying sky-high taxes, only to find out billions of dollars are being handed to wealthy companies.

“We estimate the total cost of government support for EV battery manufacturing by Northvolt, Volkswagen and Stellantis-LGES to be $43.6 billion over 2022-23 to 2032-33, which is $5.8 billion higher than the $37.7 billion in announced costs,” Giroux said. The $5.8 billion represents foregone corporate income tax revenues for the federal, Ontario and Quebec governments combined. He said there was a break-even timeline of 23 years for $15 billion in production subsidies to Stellantis.

Asked about those deals recently, LIBERAL Industry Minister Anita Anand insisted she has assurances car companies are staying in this country.

Liberal leadership candidates who want to start rebuilding credibility with Canadian taxpayers need to commit to relegating all corporate welfare to the ash heap of history.

JAY GOLDBERG: Liberal leadership candidates must be serious about cutting spending — Toronto Sun

Canadians have soured on the Trudeau government like a jug of long-expired orange juice and one big reason is that spending is out of control. If Liberal leadership candidates want any economic credibility at all, they’d better differentiate themselves from the Trudeau government. And they’d...

apple.news

“We have agreements in place with auto manufacturers. That’s our Strategic Investment Fund and we will continue to ensure that we come forward to maintain a healthy and vibrant auto manufacturing sector,” Anand told CTV News this week, so “Phew!”‍

The evidence says otherwise. It looks like we’ve (= the Taxpayers) been played for suckers.

It was utterly predictable that billions of dollars in auto industry subsidies — to companies whose head offices are elsewhere — would end in tears. They’ve shown zero loyalty to skilled workers in this country, taken our tax dollars and decamped the minute it suited them.

Those billions would have been better spent reaching our commitment to NATO of 2% of gross domestic product for defence spending. We should have fired up homegrown shipbuilding and armaments industries instead of frittering it away on foreign companies with no loyalty to Canada.

EDITORIAL: Please, sir, can we have our money back? — Toronto Sun

In the wake of U.S. President Donald Trump’s sweeping 25% tariffs on the global auto sector, Stellantis announced a two-week “pause” at its plant in Windsor. That leaves 4,000 Canadian workers wondering what the future holds. While Canada has announced retaliatory tariffs on automobiles coming...

apple.news

 

[petros]

The Feds, as of the last decade = the Liberal Party of Canada with a non-coalition coalition that definitely was not a coalition-type coalition with the NDP.

“We estimate the total cost of government support for EV battery manufacturing by Northvolt, Volkswagen and Stellantis-LGES to be $43.6 billion over 2022-23 to 2032-33, which is $5.8 billion higher than the $37.7 billion in announced costs,” Giroux said. The $5.8 billion represents foregone corporate income tax revenues for the federal, Ontario and Quebec governments combined. He said there was a break-even timeline of 23 years for $15 billion in production subsidies to Stellantis.

Asked about those deals recently, LIBERAL Industry Minister Anita Anand insisted she has assurances car companies are staying in this country.

“We have agreements in place with auto manufacturers. That’s our Strategic Investment Fund and we will continue to ensure that we come forward to maintain a healthy and vibrant auto manufacturing sector,” Anand told CTV News this week, so “Phew!”‍

The evidence says otherwise. It looks like we’ve (= the Taxpayers) been played for suckers.

It was utterly predictable that billions of dollars in auto industry subsidies — to companies whose head offices are elsewhere — would end in tears. They’ve shown zero loyalty to skilled workers in this country, taken our tax dollars and decamped the minute it suited them.

Those billions would have been better spent reaching our commitment to NATO of 2% of gross domestic product for defence spending. We should have fired up homegrown shipbuilding and armaments industries instead of frittering it away on foreign companies with no loyalty to Canada.

EDITORIAL: Please, sir, can we have our money back? — Toronto Sun

In the wake of U.S. President Donald Trump’s sweeping 25% tariffs on the global auto sector, Stellantis announced a two-week “pause” at its plant in Windsor. That leaves 4,000 Canadian workers wondering what the future holds. While Canada has announced retaliatory tariffs on automobiles coming...

apple.news

I bet that ruffles the feathers of trade partners.

 

[Taxslave2]

I bet that ruffles the feathers of trade partners.

It should ruffle the feathers of taxpayers as well.

 

[pgs]

It should ruffle the feathers of taxpayers as well.

It does me , notice the vote rich constituencies that received the graft .