Whose Watch Did This Happen On

I believe it was the Liberals.......but hell it is only $18.7 billion and the author of this farce called the current leader to offer his assistance.

Corporate welfare recipients should repay our money!
Friday, January 12. 2007

Wasted money

The CTF report notes that between 1982 and 2005, "Ottawa authorized $18.4 billion in grants and loans to various companies and organizations. Of this, only $7.1 billion is repayable. However, to date, less than $1.3 billion has been repaid to taxpayers."

And the CTF found that almost $10 billion of the $18 billion paid out was basically free money - grants and contributions that never had to be repaid. That's scary enough, but the report notes that "these numbers do not include handouts and loans made through Ottawa's regional development agencies" such as Western Economic Diversification.

So the actual amount of corporate welfare in this country is even higher than $18.4 billion.

The top 50 recipients of cash from Industry Canada comprise a who's who of corporate Canada, and those companies are not only highly profitable, but they account for one-third of all assistance. Why on earth major manufacturers, huge electronics firms, and giant computer companies need money from the government of Canada is beyond us. But it's all there in black and white. (For the full details, see the CTF's website: www.taxpayer.com.)

Posted by Editor