The Canadian Taxpayers Federation (CTF) has called on the British Columbia and Canadian governments to abandon their multimillion dollar handout to multinational battery company E-One Moli. “Taxpayers are struggling and our governments shouldn’t be choosing to help corporations instead of ordinary Canadians,” said CTF BC Director Carson Binda in a Tuesday press release.“Prime Minister Justin Trudeau’s latest corporate giveaway will cost taxpayers hundreds of thousands of dollars per job.” The Canadian government has earmarked $204 million for the construction of the E-One Moli battery plant in Maple Ridge, BC, while the provincial government will contribute $80 million. The Prime Minister’s Office said the facility “will create up to 350 new jobs and secure more than 100 existing positions.” That means taxpayers will have to pay more than $632,000 per job. “In the past few months alone, we’ve seen Trudeau give buckets of cash to corporations like Volkswagen, Stellantis, the Ford Motor Company, Northvolt, Umicore and now E-One Moli,” said CTF Federal Director Franco Terrazzano. “Instead of raising taxes on ordinary Canadians and handing out corporate welfare, governments should be cutting red tape and taxes to grow the economy.”The Parliamentary Budget Officer (PBO) published a report showing government handouts to other battery manufacturers will not break even for decades. “The break-even timeline for the $28.2 billion in production subsidies announced for Stellantis-LGES and Volkswagen is estimated to be 20 years — significantly longer than the government’s estimate of a payback within five years,” said the PBO. The CTF wanted the Canadian and Ontario governments to stop giving special treatment to corporations after news broke that Stellantis will receive $15 billion in taxpayer money in July. READ MORE: Taxpayers Federation urges Trudeau gov’t to end ‘corporate welfare’“The feds need to draw the line somewhere because taxpayers can’t afford to bankroll everyone and their dog who wants to make batteries,” said Terrazzano. “It’s wrong for Prime Minister Justin Trudeau to choose big corporations over struggling taxpayers and it's wrong for the opposition leaders to sit on their hands and say nothing.”
The Canadian Taxpayers Federation (CTF) has called on the British Columbia and Canadian governments to abandon their multimillion dollar handout to multinational battery company E-One Moli. “Taxpayers are struggling and our governments shouldn’t be choosing to help corporations instead of ordinary Canadians,” said CTF BC Director Carson Binda in a Tuesday press release.“Prime Minister Justin Trudeau’s latest corporate giveaway will cost taxpayers hundreds of thousands of dollars per job.” The Canadian government has earmarked $204 million for the construction of the E-One Moli battery plant in Maple Ridge, BC, while the provincial government will contribute $80 million. The Prime Minister’s Office said the facility “will create up to 350 new jobs and secure more than 100 existing positions.” That means taxpayers will have to pay more than $632,000 per job. “In the past few months alone, we’ve seen Trudeau give buckets of cash to corporations like Volkswagen, Stellantis, the Ford Motor Company, Northvolt, Umicore and now E-One Moli,” said CTF Federal Director Franco Terrazzano. “Instead of raising taxes on ordinary Canadians and handing out corporate welfare, governments should be cutting red tape and taxes to grow the economy.”The Parliamentary Budget Officer (PBO) published a report showing government handouts to other battery manufacturers will not break even for decades. “The break-even timeline for the $28.2 billion in production subsidies announced for Stellantis-LGES and Volkswagen is estimated to be 20 years — significantly longer than the government’s estimate of a payback within five years,” said the PBO. The CTF wanted the Canadian and Ontario governments to stop giving special treatment to corporations after news broke that Stellantis will receive $15 billion in taxpayer money in July. READ MORE: Taxpayers Federation urges Trudeau gov’t to end ‘corporate welfare’“The feds need to draw the line somewhere because taxpayers can’t afford to bankroll everyone and their dog who wants to make batteries,” said Terrazzano. “It’s wrong for Prime Minister Justin Trudeau to choose big corporations over struggling taxpayers and it's wrong for the opposition leaders to sit on their hands and say nothing.”
