The seven organizations combined will spend more than $2 billion in 2023-24 while employing nearly 2,000 civil servants.
In 2019, the Alberta government spent $2 billion on corporate welfare.
The province spent $171 million on business subsidies in 2019.
Governments do not possess superior knowledge of what people want to buy or sell.
In this year’s federal budget, the government earmarked $80 billion in corporate handouts to select industries.
The Volkswagen handout prompted automaker Stellantis to halt construction of an electric vehicle battery factory.
Policymakers should make business and personal income taxes more competitive and reduce the costs of regulation.
Provincial government subsidies total more than $100 million per year.
Federal, provincial and local governments spent more than $352 billion subsidizing firms from 2007 to 2019.
Government should help foster a pro-growth environment that gives all businesses the opportunity to thrive.