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| EST. READ TIME 1 MIN.Corporate Welfare Bargains at Industry Canada
This Alert reviews payments made to businesses over the last 30 years by Canada's federal department of industry, a practice known as corporate welfare. The information was gathered through an Access to Information request to Industry Canada. This report closely examines corporate welfare at the department where subsidies to some of Canada's largest corporations originate; it does not delve into individual businesses but instead focuses on the programs overseen by Industry Canada, and repayments and interest paid to the same department. The report finds that $6.6 billion was disbursed with no repayment ever expected; another $7.4 billion was given out and expected to be repaid eventually, though only 28.8% has been. Further, it turns out that only $9-million in interest has been received by the Department of Industry over the past three decades.
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Mark Milke
Mark Milke was a senior fellow of the Fraser Institute between 2010 and 2015. Mr. Milke led the Institute’s workon Alberta-related issues as well as contributing to a broad host of national and regional studies. Mr. Milke is currently an independent analyst and consultant in Calgary.Mr. Milke has authored four books on Canadian politics and policy and dozens of studies on topics such as property rights, public sector pensions, corporate welfare, competition policy, aboriginal matters and taxes. Prior to joining the Fraser Institute, Mr. Milke was the research director for the Frontier Centre for Public Policy and former B.C. and Alberta director with the Canadian Taxpayers’ Federation. His work has been published widely in Canada since 1997 and in addition to the Fraser Institute, his papers have also been published in the United States by the American Enterprise Institute, the Competitive Enterprise Institute and the Heritage Foundation and in Europe by the Brussels-based Centre for European Studies.Mr. Milke’s opinion columns appear regularly in the Calgary Herald and Globe and Mail, as well as in the National Post, Edmonton Journal, Montreal Gazette, Vancouver Sun, Vancouver Province, and Victoria Times Colonist. Mr. Milke has a Master’s degree from the University of Alberta where his M.A. thesis analyzed human rights in East Asia; he also has a Ph.D. in Political Science from the University of Calgary where his doctoral dissertation analyzed the rhetoric of Canadian-American relations. Mr. Milke is president of Civitas, and a past lecturer in Political Philosophy and International Relations at the University of Calgary.… Read more Read Less…
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