Last week, Bombardier posted a $4.9 billion quarterly loss, received $1.3 billion in support from the Quebec government, and is now seeking up to $1 billion in taxpayer support from OttawaOTTAWA, ON: The Canadian Taxpayers Federation (CTF) is calling on new Innovation, Science and Economic Development Minister Navdeep Bains to reject requests from the government of Quebec and Bombardier to pledge additional federal tax dollars towards the hapless aerospace company.
“We congratulate Minister Bains on his new appointment, and welcome the new Trudeau government’s pledge of ‘real change’,” said CTF Federal Director Aaron Wudrick. “If the minister is looking for a concrete way to demonstrate real change right out of the gate, he has an excellent opportunity to do so by refusing Bombardier’s pleas for yet another bailout.”
Bombardier and its legacy companies have received more than $2.2 billion in taxpayer support since 1966 from the federal government alone.
“Bombardier has regrettably proven to be a bottomless money pit where Canadians’ tax dollars go to die,” continued Wudrick. “Time and again they have been given grants and loans, only to return in the not too distant future with their hands outstretched for more.”
“Corporate welfare is not smart economic policy – it is cynical political pandering to a vested special interest, pure and simple. Minister Bains should show what real change looks like, and just say no to Bombardier,” concluded Wudrick.
Aaron Wudrick, CTF Federal Director
