Ontario Should Stop Subsidizing Luxury Vehicles for Millionaires

Subsidies include $14,243,710.50 for luxury cars that retail over $70,000, and $867,679 for cars that retail over $100,000 TORONTO, ON: Documents obtained by the Canadian Taxpayers Federation (CTF) through FOIP, reveal that Ontario has spent over $39 million in taxpayer money on subsidies for electric vehicles over the past six years. Of those subsidies, $14,243,710.50 were for vehicles with a manufacturer’s suggested retail price over $70,000. And $867,679 in taxpayer money went to subsidize cars that retail at over $100,000. “In no universe does it make sense to have regular hard working Canadian families subsidizing the luxury vehicles of millionaires,” said CTF Ontario Director, Christine Van Geyn. “Premier Wynne needs to scrap this program. If you can afford a $100,000 car, you don’t need a subsidy from people who earn less than that in a year.” The documents reveal that $27,690 in subsidies went to several Porsche 918 Spyders. The Spyder is one of the most exclusive cars in the world, with only 918 ever built, and which retail for US$845,000. The average car in Ontario costs around $27,500. The government recently amended the Electric Vehicle Incentive Program, so that vehicles retailing at over $150,000 are no longer eligible for a taxpayer subsidy. But vehicles priced from $75,000 to $150,000 will still receive up to $3,000 in taxpayer money. That means vehicles like the $100,000 Porsche S e-hybrid or the $135,000 BMW i8 are still being partially paid for with public money. “Our roads in Ontario are falling apart, and the Ontario government has brought in a new 4.3 cent per litre carbon tax on gas. But instead of fixing our highways or easing pain at the pumps, the government is spending tens of millions of dollars helping the richest Ontarians buy fancy cars. None of this makes any sense, and this program needs to end before even more money is wasted,” concluded Van Geyn. You can view the document obtained by the CTF through FOIP here Christine Van Geyn, CTF Ontario Director