Taxpayers shouldn't be giving Volkswagen $13 billion

OTTAWA, ON: The Canadian Taxpayers Federation is calling on federal opposition parties to reject the $13 billion subsidy the federal government is giving Volkswagen.

“Taxpayers don’t have $13 billion to give to a multinational corporation,” said Franco Terrazzano, Federal Director of the CTF. “That money could be used to build more than a dozen new hospitals or lower taxes for Canadians that are struggling.”

Volkswagen’s St. Thomas electric battery plant is expected to create up to 8,000 jobs if you include potential spinoffs

Today Bloomberg reported that “Prime Minister Justin Trudeau’s government agreed to subsidies that may top $13 billion.”

Volkswagen’s St. Thomas electric battery plant is expected to create up to 8,000 jobs if you include potential spinoffs. This means the federal government’s subsidy will cost taxpayers at least $1.6 million per job.

For $13 billion, Canada could build 15 hospitals based on the construction costs of the Grande Prairie Regional Hospital. Or the annual cost of the subsidy would cover the entire personal income tax bill of 67,000 Canadians making $75,000.

“Oppositions parties should reject this corporate welfare, which would cost more than $1 million per job,” Terrazzano said. “Instead of raising taxes then giving buckets of cash to hand-picked multinational corporations, the feds should be cutting taxes and red tape to help all Canadians.”

For more information or to schedule interviews, please contact:

Franco Terrazzano
CTF Federal Director
Cell: 403.918.3532
Email: fterrazzano@taxpayer.com
Twitter: @franco_nomics

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