Canadas mining industry is globally competitive, and has long succeeded without much in the way of government subsidies. It even thrived in the last recession by responding to market demand. Yet instead of letting markets drive mining investment in Quebec, the provincial government is bailing out the asbestos industry using taxpayer money - and this for a product that is harmful to human health.
When the federal and Ontario governments transferred $14.5 billion in taxpayer cash to GM and Chrysler in 2009, they likely did so with the best of intentionsto preserve jobs, though no doubt southern Ontario votes also figured heavily into the equation. But in a recent analysis from Dennis DesRosier, the automotive analyst noticed that employment in the Canadian automotive sector, despite the bailout and economic recovery, continues to fall.