The Canadian Taxpayers Federation is slamming the Alberta government for giving Inter Pipeline $408 million through the Alberta Petrochemicals Incentive Program – the third major subsidy the company has been awarded since 2016..“At some point our politicians need to stop letting Inter Pipeline shove its snout further into the taxpayer trough,” said Franco Terrazzano, the CTF’s Alberta Director..“The fact that this company seems to need subsidy after subsidy should be a huge red flag for taxpayers.”.On Monday, the Alberta government announced it will be giving Inter Pipeline a $408-million grant through the APIP..In 2019, Inter Pipeline was awarded up to $70 million through the government’s Petrochemical Diversification Program. This followed another $200 million that the government announced for the company in 2016..Inter Pipeline was previously approved to receive $200 million of royalty credits for the propane dehydrogenation plant under the Petrochemicals Diversification Program, but will resign these credits in favour of the more significant APIP grant..The CTF obtained a leaked briefing note written by the finance department in 2015 warning the government that petrochemical subsidies “could benefit projects that would have gone ahead regardless of the incentives” and could encourage companies “to demand tailored support programs from Government in the future.”.“Premier Jason Kenney deserves credit for making Alberta business taxes one of the most competitive in North America, but this petrochemical corporate welfare program is a big step backwards,” said Terrazzano..“It’s time for Kenney to go back to lowering taxes and cutting red tape and stop playing investment banker with our tax dollars.”.Dave Naylor is the News Editor of the Western Standard.,dnaylor@westernstandardonline.com,.Twitter.com/nobby7694
The Canadian Taxpayers Federation is slamming the Alberta government for giving Inter Pipeline $408 million through the Alberta Petrochemicals Incentive Program – the third major subsidy the company has been awarded since 2016..“At some point our politicians need to stop letting Inter Pipeline shove its snout further into the taxpayer trough,” said Franco Terrazzano, the CTF’s Alberta Director..“The fact that this company seems to need subsidy after subsidy should be a huge red flag for taxpayers.”.On Monday, the Alberta government announced it will be giving Inter Pipeline a $408-million grant through the APIP..In 2019, Inter Pipeline was awarded up to $70 million through the government’s Petrochemical Diversification Program. This followed another $200 million that the government announced for the company in 2016..Inter Pipeline was previously approved to receive $200 million of royalty credits for the propane dehydrogenation plant under the Petrochemicals Diversification Program, but will resign these credits in favour of the more significant APIP grant..The CTF obtained a leaked briefing note written by the finance department in 2015 warning the government that petrochemical subsidies “could benefit projects that would have gone ahead regardless of the incentives” and could encourage companies “to demand tailored support programs from Government in the future.”.“Premier Jason Kenney deserves credit for making Alberta business taxes one of the most competitive in North America, but this petrochemical corporate welfare program is a big step backwards,” said Terrazzano..“It’s time for Kenney to go back to lowering taxes and cutting red tape and stop playing investment banker with our tax dollars.”.Dave Naylor is the News Editor of the Western Standard.,dnaylor@westernstandardonline.com,.Twitter.com/nobby7694
