Corporate Welfare: Trudeau & Wynne Give $220 Million Taxpayer Dollars To Company That Made $22 Billion Profit

The higher taxes and energy costs rise, the more the government desperately resorts to corporate welfare.

Toyota recently made a profit of $22 billion.

But apparently, the federal and Ontario government’s still had to give a bunch of taxpayer money to the company in order to get an upgrade at two Toyota plants.

The plants in Cambridge and Woodstock are being upgraded, in what the government’s say will create 450 new jobs in the next 10 years. There will also be 1,000 co-op jobs created in that time.

At the announcement of the plant upgrades, Trudeau said “These measures support Canada’s competitiveness and build our capacity to do the kind of advanced automotive research and production that companies like Toyota want to do more of.”

Wynne said “It’s a vote of confidence in our talented workforce and in our entire province.” 

Here’s another way to say it: Corporate welfare.

Personally, I’m glad to see that there could be some more jobs in the auto industry. But when you break it down, that’s $151,724 per job – over an entire decade.

We need to ask why would a company that just made such massive profits need $220 million ($110 million each from the federal and Ontario govs) in taxpayer dollars if they identified the plant upgrades as a good idea and saw the province as a cheap place to do business?

It doesn’t make sense.

What does make sense is that Toyota would ask for the money as a way to offset the economic damage caused by carbon taxes and rising energy costs (which are reaching obscene levels in Ontario). Meanwhile, the United States has been cutting taxes, and doesn’t have a carbon tax.

So, because of the burden put on businesses by Trudeau & Wynne’s policies, the government is reduced to giving out corporate welfare in an attempt to attract investment.

This is an important reminder that policies pushed by elitists like Trudeau & Wynne end up ripping off taxpayers, while simultaneously enriching massive corporations, causing even more erosion to the middle class.

If Canada had a more pro-worker and pro-business environment, imagine how many more good jobs would be created, and imagine how much less taxpayer dollars would be going towards paying off those companies.

Spencer Fernando

Photo – YouTube

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jeffBruce MillerRoger ShelswellChristian moehlingCanucklen Recent comment authors
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Del
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Del

Blatant on your face vote buying with the Federal liberals buying votes and campaigning for Provincial Liberals. Illegal as hell as Federal money used on behalf of a particular Provincial Party during an election campaign is seen as a political contribution.

The stunned idiot has to be reminded it is not HIS money he is buying votes with.

Dave Bainard
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Dave Bainard

Spencer, you calculated $150G per job over the 10 years. Problem is that in less than 5 years, those jobs created will be replaced by made in Japan robots. That puts the cost at $300G/job. Can you say vote buying? BTW why is Jr subsidizing gas burners at the same time as stopping western oil? I could see him getting his panties wet if they were to be electric cars. As if that will ever happen.

Tim
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Tim

SO how much is Toyota going to give back to THE TERRORIST TRUDEAU as a BRIBE/TRUDEAU FOUNDATION . Just like the CORRUPT BROADCASTING CORP. stuffed trudeaus pocket.

Canucklen
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Canucklen

Who the hell does Toyota think they are … Bombardier … ????????????

Christian moehling
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Christian moehling

Same old story ……nothing new here. Just the wholesale sell off of canada @ the tsxpayers expense…….treason in a suit.!!!

Roger Shelswell
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Roger Shelswell

What a f/n joke this is.I pray the Canadian people open there eyes and never elect these criminals again

Bruce Miller
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Bruce Miller

Returning some of the obscene profiteering of Ontario Electric outfits? Good idea! We could even promise a graded return as companies stay, grow, or invest in Ontario, in Canada but only judiciously applied towards environmentally cleaner corporations.
Chinese Electric vehicles can be encouraged this way? What happened to that story? China’s BYD to open electric vehicle plant in Ontario | Marketing …
https://canada.businesschief.com/…/Chinas-BYD-to-open-electric-vehicle-plant-in-Ont…
We mustn’t miss this Golden Opportunity.

jeff
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jeff

They used to do that in Australia also when they used to produce Cars and Trucks but that all ended when the Carbon Tax came out, Basically the money the Government gives a utilities break from All the rot that the government has done, For Example Most Automotive industry smelters steel and aluminum with electricity and Thanks to Wynne’s bad/terrible/hideous Management of Hydro One, Ontario is basically not Competitive with the rest of Canada and the USA, So to keep Jobs here You have to give some sort of incentive to keep Manufacturing here. 220 million is nothing Toyota is… Read more »