Quotulatiousness

December 14, 2010

Conservatives now still pushing corporate welfare

Filed under: Cancon, Economics, Politics, Technology — Tags: , , , , — Nicholas @ 07:35

Okay, they’re not even pretending to be fiscally conservative any more:

The Conservative government has announced it is loaning aerospace giant Pratt & Whitney Canada $300 million for a $1 billion research project to develop the next generation of aircraft engines.

Industry Minister Tony Clement made the announcement on Monday saying it will create 700 high-skilled jobs in the GTA and more than 2,000 over the 15-year lifespan of the project. He also claimed the firm is in the process of hiring 200 engineers.

[. . .]

‘Create and maintain Canadian jobs’ has been the Conservative mantra during their recent shift to Keynesian economics and massive long-term deficits for the next half decade. The same political party that once decried government largesse and inexplicable corporate subsidies (also known affectionately as corporate welfare) is now a major player in the ‘too big to fail’ macroeconomics game.

This is nothing new: under former minister Maxime Bernier, the current darling of the small-government wing of the Conservative party, Pratt & Whitney got $350 million in corporate welfare just four years ago. That debt hasn’t been repaid.

1 Comment

  1. Upon receiving the corporate welfare check, Pratt & Whitney was seen cashing the cheque at a local Money Mart, and then taking a cab to go pick up a two-four and a deck of smokes.

    Comment by Lickmuffin — December 15, 2010 @ 10:58

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