Canada’s billions to Volkswagen and Stellantis are irresponsible and inflationary
. Such subsidies clearly improve the companies’ returns on investments enough to attract these electric-vehicle battery plants away from other jurisdictions such as the United States or Europe. It’s harder to see what the Canadian and Ontario governments get in return.
Reviewing government statements on both deals, the two elements that come up most often are references to jobs and economic effects. The federal government has claimed that the Volkswagen plant to be built in St. Thomas, Ont., will create 3,000 direct jobs and 30,000 indirect jobs. While I’ve not seen a number for the indirect jobs that will supposedly be
Had these agreements been made at the bottom of a recession, they would be responsible and welcome. Right now, this is irresponsible and inflationary spending.
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