Re: Corporate bailouts in Canada.
In the May 30 Globe and Mail, it was reported, “Taxpayers will be left on the hook for some of the $13.3 billion they provided to help bail out Chrysler Group LLC and General Motors Co.,” Finance Minister Jim Flaherty says.
I am concerned that North Vancouver Island MP John Duncan’s government has created a structural deficit by cutting corporate tax rates and now with a $1.2-billion bailout of the auto
sector in Canada.
Again, I quote the Harper government: “At the end of the day, there’s not going to be full recovery of the taxpayers’ investments that were made back in 2008-2009 — in the sense of
cash recovery,” Mr. Flaherty said Monday. “
What would happen if I told the City of Courtenay they weren’t getting a complete ‘cash recovery’ of my taxes, but I’d sure take good care of the boulevard in front of my house in lieu?
My concern is that Mr. Duncan’s government is embarked on an austerity program, cutting government departments (including defence) by 20 to 30 per cent, imposing significant cuts that will mean service cuts for ordinary Canadians.
All this because his government can’t get a ‘cash recovery’ and has reduced corporate taxes?
My question: Why are you making all these cutbacks to services for
Canadians while the corporate sector gets tax breaks and what amounts to corporate welfare with this $1.2 billion gift?