In 2019, the Alberta government spent $2 billion on corporate welfare.
Governments do not possess superior knowledge of what people want to buy or sell.
In this year’s federal budget, the government earmarked $80 billion in corporate handouts to select industries.
The Volkswagen handout prompted automaker Stellantis to halt construction of an electric vehicle battery factory.
Policymakers should make business and personal income taxes more competitive and reduce the costs of regulation.
Provincial government subsidies total more than $100 million per year.
Federal, provincial and local governments spent more than $352 billion subsidizing firms from 2007 to 2019.
Government should help foster a pro-growth environment that gives all businesses the opportunity to thrive.
The federal government plans to spend an estimated $13 billion on subsidies for Volkswagen’s Ontario battery plant.
By 2027/28, the forecasted annual cost of federal debt interest will exceed $50 billion—or more than $1,200 per Canadian.