Trudeau and Ford governments to provide $15 billion in corporate subsidies to Stellantis
The Canadian Taxpayers Federation (CTF) is demanding that the federal and Ontario governments put an end to corporate welfare programs following the announcement that Stellantis, the parent company of Chrysler, Fiat, and Maserati, among others, will receive $15 billion in special taxpayer treatment.
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Franco Terrazzano, the Federal Director of the CTF, expressed concerns about taxpayers bearing the financial burden, stating, “The feds need to draw the line somewhere because taxpayers can’t afford to bankroll everyone and their dog who wants to make batteries.” Terrazzano further criticized Prime Minister Justin Trudeau for favouring big corporations over struggling taxpayers and accused opposition leaders of remaining silent on the matter.
Under the subsidy program, the federal and Ontario governments are providing approximately $15 billion in subsidies to Stellantis. Ottawa will cover two-thirds of the costs, while the Ontario government will contribute the remaining $5 billion.
The CTF is urging opposition leaders in the House of Commons to oppose the subsidy deal. Conservative Party Leader Pierre Poilievre expressed his commitment to reducing corporate welfare and using the saved funds to lower taxes for small businesses if elected as prime minister. Meanwhile, New Democratic Leader Jagmeet Singh criticized “corporate greed” and called for greater control over such practices.
Jay Goldberg, the Ontario Director of the CTF, highlighted the frustration felt by small business owners and families across Canada, who diligently pay their taxes only to witness billions being handed over to profitable multinational corporations. “Small business owners and families all across Canada are working hard and paying their taxes only to see billions handed over to multinational corporations with massive profits,” he said. “The Trudeau and Ford governments are setting a terrible precedent that will encourage other companies to hold taxpayers hostage until they get their own deal from Parliament Hill and Queen’s Park.”
The CTF’s call to end corporate welfare programs in light of the substantial subsidy received by Stellantis adds to the ongoing debate over government support for large corporations and its impact on taxpayers and small businesses. As the opposition leaders consider their stance, the issue of corporate greed and the allocation of public funds will continue to be scrutinized in the coming days.
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