Sympathy…Not!

From the perspective of the Canadian taxpayer, it is difficult to conjure any sympathy for Bombardier, just kicked squarely in its C-Series cockpit by the U.S. Commerce Department’s plan to impose the hernia of a 219% import duty on its passenger jets.

The company has been taking Canadian taxpayers on a flight of its own financial fantasy since 1996 when it got its first taste of corporate welfare money.

Since then, its embracing of corporate welfare has been like an insatiable sugar addiction, thanks to spoon feeding of grants and generously-conditioned loans from the federal government and the province of Quebec.

In the two decades since it first tapped into the taxpayer, the Fraser Institute calculated that Bombardier has received $1.1 billion in inflation-adjusted largesse involving 48 separate disbursements, just from Industry Canada alone.

That $1.1 billion, says the Fraser Institute, does not include tax dollars from other federal departments or governments, including Ontario, Quebec and even $298 million from Great Britain.

So, buckle up, and prepare for takeoff.

Good Read…

See Also:

(1) Time to bust the myth — Canada does not have to be in aerospace

(2) Liberals working on apology for 1939 decision to refuse ship of Jewish refugees

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