Trudeau Government Says $6.3 Billion In Taxpayer-Funded Loans Won’t Ever Be Paid Back

Government is writing-off billions in loans.

The Trudeau government says over $6.3 billion in taxpayer-funded loans won’t ever be paid back.

The full amount is being written off.

Most of the loans were to businesses and students.

According to the CP, $2.6 billion in loans through Export Development Canada were written off.

The write-offs are just the latest, as the Trudeau government wrote-off “some $3 billion in loans in each of the past two years.”

The Trudeau government is also forgiving some loans – adding up to $1.1 billion.

In total, that’s billions of dollars the Canadian taxpayers will never get back.

Spencer Fernando

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Don Taylor
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Don Taylor

I have said it before many times, the biggest DANGER to Canada is Justin Trudeau

doug
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doug

In reality it is the eastern voters who pose the biggest threat to the country. They are know to flip flop & swoon over any lib who will promise them free stuff. They also swoon over the name trudo even though many have not lived through the 1st trudo reign of destruction. I am utterly amazed at how he can still have as big a following as the media says he has with all his ethics breaking, sending billions out of the country while openly ignoring the people who elected him. Hopefully they will not be as culpable & stupid… Read more »

Elizabeth Thorne
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What if Canadians were to write off the government and STOP paying taxes, who has not had enough of this law breaking government

Marian
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Marian

We have to get all Canadians out to vote this Corruption out. Spread the word to make it happen!!!!

Ralph Knapp
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Ralph Knapp

They were never loans in the first place. They were gifts. The Boy is destroying Canada financially, every day he’s in office.

Norbert Kausen
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Norbert Kausen

I also heard this morning that the Trudeau government has forgiven the bailout loans to Fiat/Chrysler!!

shawn harris
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shawn harris

In the real world of everyday life, it is common sense and realistic that anyone who enters into a loan, whether public or private; you pay back the money you borrowed. Unfortunately, for Trudeau, his unicorn world, where money grows on trees and pixie dust solves problems, you never have to be held responsible or accountable for your legal obligations. And Trudeau , being the elitist that he is,does what all elitists, socialists and far left politicians do: they spend other people’s money, read taxpayers money, with no regard for the consequences or even feeling the least bit guilty for… Read more »

Del
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Del

His latest gift was a $400 million gift to Bombadeer. The jerk said it was a loan. A $400 million LOAN to a multi-billion dollar company? Peanuts. Gifting his donors with our money. It wouldn’t surprise me to discover Bombadeer gave thr Justin Trudeau Family Benefit fund $10 million and he turned around and gave them $400 million. It isn’t his money so why the hell should he care? He hates Canada. He is dangerous.

Al Stevenson
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Al Stevenson

Does this include loans to Immigrants?

Wendy Lush
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Wendy Lush

Lots of new ‘Canadians’ go to university on Canada students loans they are eligible for. Some of them return to their home country soon after graduating and default on the total amount owed. I’ve seen it. All part of the plan. It’s hard to reclaim moneys owed outside the country.

Martin
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Martin

Funny how they are saying so much in Federal student loans are being written off. I had them added to my CRA account and when I thought I was getting ahead on that, they informed me the amount that I had paid went to my student loan. I was then forced into getting a loan at crazy rates in order to pay off CRA (Canadian Ripoff Agency). I’m now on the hook for the next 4-5 years at almost 50% interest or face the fact of CRA taking 30% of my pay and making it impossible for me to survive.

Wendy Lush
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Wendy Lush

So you sent $ to the CRA to pay income taxes owed, and students loans got priority over taxes owed? That doesn’t seem right. If you were to explain this situation to the agent/person in charge of your dossier they might cut you some slack or lower your interest rate. Or you could see a lawyer to challenge CRA in court. Good luck.

Gonzo the Magnificent
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Gonzo the Magnificent

WHAT A MESS YOU ARE CAUGHT IN! Not to be a bearer of bad news but a very bad recsssion is imminent – IT’S COMING!
The silver lining might be that you are let off eventually as you and too many other young folks will be in the same boat. Think of the politics involved in this mess!

Moe. S.
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Moe. S.

It appears by all accounts Santa Claus (a.k.a) Trudeau has arrived early this season. Taxpayer’s get a hunk of coal in your Xmas stockings. Oops! Climate Barbie has probably banded the use of coal in Xmas stockings.
Too bad so sad Canadian taxpayers!

Gonzo the Magnificent
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Gonzo the Magnificent

The real question is: when did these loans originate? They could have been during the PC years; I do not know. My point is, that ANY government that is forced to play politics with tax payer money is doing a disservice to the public. Once government grants start, boy are they hard to stop, especially in vote rich Quebec and Ontario! We need a Maxime Bernier or Donald Trump to tackle this one and only if the political timing is right! This will never stop as business leaders are much smarter than I am and hence know how this game… Read more »