The long story short is that in nine years, over the lifetime of the Trudeau government, federal subsidies to business more than doubled through the introduction of over 100 new programs. Every Canadian went from paying just over $310 to businesses large and small to over $800 per year in 2023/24.
Fuck welfare for the rich also, I’ve been saying this for decades.
We need to stop this bullshit altogether. Can we not invest and expect a return on that investment? Look at what corp-welfare-run-amok is doing to the USA right now! We’re next if we don’t start making calls, people!
You might expect that, with all this support, Canada has roared to the top of those rankings of global indicators of productivity and economic success, or at least caught up to Italy. But no. Our economic performance is worse. We have warning lights popping up around all of our important indicators. Productivity, or the amount of output for every hour worked, has actually declined since 2018.
Worse, while we’ve been shovelling money at corporations, our social services have declined. There are 2 million more Canadians living without a family doctor than there were in 2019. Housing has become wildly unaffordable, with the Bank of Canada’s Housing Affordability Index reaching heights unseen since the excruciating double-digit interest rates of the early 1990s. And that marquee Liberal social program, universal access to subsidized child care spaces, is hitting bumps with staff shortages and long-term funding gaps that leave its future in doubt.
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Since 2019/20, Canadians have been giving away more than fifty cents of every dollar collected in corporate income taxes right back to businesses.
Canadians are facing serious crises in critical public services like health care and child care and social goods like housing. Does it really make sense for us to give Canadian businesses back more than half of what they pay in taxes when so many people can’t find a family doctor or afford a home?
If only the Liberals was as progressive as the Conservatives paint them to be.
Mass immigration into a housing shortage is corporate welfare as well. Brookfield real estate does well, cheap labor depresses wages, higher corporate profits so stock valuations rise dramatically.
Yet I still see the complaint that high immigration + cheap labour is “CoMmUnIsM”.
Australia decided to stop supporting its car industry and now China controls their market and the related jobs are gone… Unless all countries play along, those big industries have US by the balls…