The federal government plans to spend an estimated $13 billion on subsidies for Volkswagen’s Ontario battery plant.
corporate subsidies
By 2027/28, the forecasted annual cost of federal debt interest will exceed $50 billion—or more than $1,200 per Canadian.
The costs included agricultural subsidies and tax credits for natural gas drilling.
Roughly half of all business income tax revenue collected by the province was sent back to select firms and industries.
The province plans to give $500 million in loans and grants to a steel manufacturer in Hamilton.
The Trudeau government recently announced a federal grant of up $420 million to Algoma Steel.
The $3.8 billion program will provide up to $25,000 in subsidies per employer.
The Kenney government wants to grant municipalities the ability to offer tax incentives to specific industries.
Only an estimated 90 per cent of new revenue from the federal carbon tax will be returned to taxpayers.