In late 2007, when the Fraser Institute published the first study on corporate welfare, the tally between April 1, 1994 and March 31, 2004 amounted to $144 billion. Two years later, we have statistics up to March 31, 2007; the total now stands at $202.7 billion. Canadian governments distributed subsidies worth $202.7 billion to businesses (from federal, provincial, and municipal treasuries - i.e. tax payers) between April 1, 1994 and March 31, 2007.