Canadian Taxpayers Federation Reacts to Corporate Welfare Announcement for Ford Canada

OTTAWA, ON: The Canadian Taxpayers Federation (CTF) Federal Director Aaron Wudrick released the following statement in response to today’s joint Federal-Ontario announcement regarding Ford Canada:

“The federal and Ontario governments continue to double down on the failed strategy of taxpayer subsidies to private businesses. It is ludicrous to suggest that Ford ‘needed’ a $200 million handout from Ontario and Canadian taxpayers, as the company earned a global pre-tax profit of more than US$10 billion in 2015. If the federal and Ontario governments are concerned about business competitiveness, they should eliminate misguided policies that drive up costs (such as the Green Energy Act and carbon cap-and-trade) and lower business taxes. Corporate welfare is an unsustainable, wasteful and unfair approach to economic development that creates perverse incentives and teaches businesses that the key to success is to cozy up to governments for free taxpayer money.”