The Harper Government's Crony Capitalism - 2013-01-24
The Harper Government's Crony Capitalism January 24, 2013,
You might think the federal Conservatives, who added $125 billion to the federal debt since 2008 and will add another $21 billion by the end of March, might be shy about unnecessary expenditures. Alas, that's not the case, as it appears Prime Minister Stephen Harper and his colleagues would rather hand out cash to corporate Canada instead.
In just the first two weeks of January, the prime minister announced another $250 million for the Automotive Innovation Fund -- a federal subsidy program that provides the auto sector with taxpayer cash for research and development.
Then the prime minister announced $400 million for venture capital, mystifying those of us who thought it was fine to let private-sector angel investors risk their own cash, not that of taxpayers, on high-risk start-ups.