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If this government wants to support innovation, it should stop distorting the marketplace and focus on creating an attractive business environment for all, not just companies deemed worthy of a handout.

Canadian Taxpayers Federation reacts to Venture Capital Catalyst Initiative


By —— Bio and Archives--December 18, 2017

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Canadian Taxpayers Federation reacts to Venture Capital Catalyst Initiative
OTTAWA, ON: The Canadian Taxpayers Federation (CTF) Federal Director Aaron Wudrick released the following statement in response to today’s federal government announcement regarding the Venture Capital Catalyst Initiative:

Continued government intervention in the form of taxpayer subsidies risks drawing the technology sector into the same long-term cycle of dependency

“The very notion of ‘government venture capital’ is a contradiction in terms. This fund, like all transfers of public dollars to private companies, is simply another taxpayer subsidy. The Harper government was foolish to set up such a fund, and the Trudeau government is wrong to repeat the mistake.

Viable businesses do not need to be hand-held and coddled by politicians, and are quite capable of securing funding in the private sector. Continued government intervention in the form of taxpayer subsidies risks drawing the technology sector into the same long-term cycle of dependency as we have seen in the aerospace and automotive sectors.

If this government wants to support innovation, it should stop distorting the marketplace and focus on creating an attractive business environment for all, not just companies deemed worthy of a handout.”


Canadian Taxpayers Federation -- Bio and Archives | Comments

Canadian Taxpayers Federation

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