Why Is BC Secretly Subsidizing Foreign Corporations?


A government exists to serve the citizens of their country or region, not foreign interests.

That must be the driving force behind every decision a government makes. When that focus is lost, the people suffer, and government fails to fulfill its true role.

With that in mind, a recent report raises disturbing questions about the government of British Columbia’s treatment of local and foreign business.

It now appears the BC government has been operating a secret program to provide tax breaks to wealthy foreign banks and corporations.

Reportedly, over $140 million has been given out in tax breaks since the program got underway in 2008.

However, those tax breaks are not available to local companies, and the government will not reveal where the money is going.

That is totally unacceptable. There is no justification for taxpayers being kept out of the loop when the government they pay for gives breaks to already wealthy foreign companies.

It represents a theft from taxpayers, all to subsidize companies that have no stake in BC or Canada.

As Dermod Travis of IntegrityBC said, “This is essentially a temporary foreign-worker program for the rich, with secret government subsidies for multinational corporations. The government is selling B.C. as a tax haven for the global elite to park investment here, but not have to contribute.”

Secret foreign subsidy program failed miserably

Not only has the program taken taxpayer money and given it away to foreign companies, but it failed miserably when it came to creating jobs.

The BC government had initially projected 13,000 jobs would be created by the subsidy.

The real number?

Less than 300.

Awful.

Subsidy program must be repealed, give the money to local businesses instead

$140 million for under 300 jobs is a total and pathetic disgrace. It’s even worse that the money was given to foreign banks and multi-national corporations who already make gigantic profits.

It’s a failed globalist scheme at its very worst.

Such a failure must be eliminated. Instead, those tax breaks should go towards businesses based in British Columbia. That is the job of the BC government – to help the people of BC. The job is not to serve powerful foreign interests.

It’s time the BC government understood that and did the right thing by immediately cancelling the program. Powerful elites don’t need more government support. It’s long past time for our governments to get back to serving our own people and our own citizens.

Spencer Fernando


One comment Add yours
  1. Certainly time now fo BC to consider this:
    Niki Ashton, a direct quote:
    “It simply isn’t good enough to continue to follow an incremental approach that has often failed to challenge the policies of Liberal and Conservative governments,” says Ashton. “We must challenge the power of Canada’s elites, the rich and powerful who are benefiting from growing inequality in our country. It’s time to call out a system that is rigged to benefit the few at the expense of the many.”
    A Socialist Democratic government is not Marxist or Communist. A Socialist Democratic government is still a Capitalist government, just one who seeks to restrain the self destructive excesses of Capitalism, and channel government uses of Tax money into creating opportunities for everyone. Democratic Socialists believe that both the economy and the society should be run democratically to meet human needs, not simply to make profits for a greedy few.
    http://simplecapacity.com/2016/12/the-lie-we-live-video/
    USA far too right wing and far too Big Business infested for a Socialist Democratic notion like universal health care, universal drug care or universal dental care. Canada’s Justin Trudeau is trying desperately to dilute the intelligent herd in Canada with poorly selected refugees and immigrants so he and his Uber Rich cohorts can first, go to two-tier then privatized medicine in Canada.
    Video, Niki Ashton on 22 minutes
    https://www.facebook.com/22Minutes/videos/10154397621703339/

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