A small [but significant] victory for Canadian taxpayers
I was glad to finally see Finance Minister Jim Flaherty take a solid [but necessary] stance against the use of corporate welfare to prop up bad business deals. His words -- published today in the Telegraph Journal -- practically mirror what I have been saying on this blog since its inception:
"I don't believe in corporate welfare or in propping up failing companies," he said, rejecting any sort of direct industrial aid or investment as a response to mill closures.Now, if we can only get a provincial party in New Brunswick to not only adopt a policy (a ban), but to take a public stance against this wasteful spending practice [corporate welfare] of taxpayers dollars. It's the right thing to do.
4 Comments:
Now if we can only get the feds to turn off the TPC subsidy taps to Pratt & Whitney. In other words, it's great that Flaherty is getting tough, but he should seek to protect all taxpayers from all types of wasteful spending, not just declining mills in rural areas.
You're absolutely right, bill. Canadians taxpayers deserve better. Which is why this blog will be pressing the feds in the near future to put an end to paying subsidies to businesses.
Although, we have to remember that former Industry Minister Maxime Bernier did strengthen the mandate of Technology Partnerships Canada considerably by ensuring transparency with respect to repayments made on the taxpayer's investment (opening the books).
In the past, the Liberal government tried to keep things under raps and out of the public eye. Probably because the program shelled out $3-billion since 1996, but only recouped a mere 5%.
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Lawyers corporate welfare see govinjustice.blogspot.com
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