Bleatings About Corporate Welfare

Don't seem to have any merit if we accept the findings of a recent report which indicates billions in "profits" are flowing back into the economy. Of course I guess this can be said of the billions paid out in social assistance except there are no profits.

TPC fund: Corporate welfare or economic engine?

Gain of $32.3-billion seen flowing back

SIMON TUCK

OTTAWA -- Ottawa's most controversial corporate subsidy fund is greatly benefiting the Canadian economy despite the program's poor repayment record and repeated government efforts to make major changes, according to a consultant's report that has never before been made public.

The report, commissioned by Industry Canada's audit and evaluation branch, concluded that Technology Partnerships Canada has produced a net benefit of $32.3-billion to the Canadian economy over most of its existence, or 8.6 times the program's total costs.

The 93-page document -- which was written by Ottawa-based economics and technology consultants Hickling Arthurs Low and obtained through an access to information request -- said that benefits to Canadian taxpayers go much further, including in such areas as public health, sovereignty and security, environment, social, physical assets and advancement of knowledge."

http://www.theglobeandmail.com/servlet/story/LAC.20060911.RTPC11/EmailTPStory/