By Canadian Taxpayers Federation -- Franco Terrazzano CTF Federal Director —— Bio and Archives June 14, 2023
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OTTAWA, ON: The Canadian Taxpayers Federation is calling on the federal government to cancel the Volkswagen deal following today’s Parliamentary Budget Officer report estimating the cost has already spiraled from $13.9 billion to $16.3 billion.
“Shovels haven’t even hit dirt and the Volkswagen handout will cost taxpayers billions of dollars more than the government let on,” Franco Terrazzano, CTF Federal Director, said. “Taxpayers don’t have $16.3 billion to give to a multinational corporation and we certainly don’t have billions more to give to other companies that are demanding their own handouts.”
Today’s PBO report estimates “the government will need to pay Volkswagen up to $16.3 billion over the period of the agreement.” This is up from the government’s estimate of $13.9 billion.
The federal government told Canadians the subsidy would create 3,000 “direct” jobs. That’s a cost to taxpayers of $5.4 million per job.
“Canadians are worried about their mortgage payments and putting
food on the table and the government is deciding to help a huge
multinational corporation,” Terrazzano said. “Canadian families need
$16.3 billion, Volkswagen does not.”
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
