The National Post is reporting today that the Federal and Quebec governments are about to provide $750-million to backstop Bombardier Inc.’s development of its new super-sized series of jets.
According to the article, the federal government has given Bombardier about $1-billion of research and development support since 1972. The company has repaid only $275-million of that money, the memo states. Dated June 22, 2004, it was obtained by researcher Ken Rubin. Any new funding Ottawa hands Bombardier would be on top of that.
Now the obvious irony here is that Bombardier has claimed in the WTO that Embraer receives unfair subsidies from the Brazilian government while at the same time being the most subsidized private corporation in Canadian history.
But beyond that, can you ever imagine any government giving even a fraction of that amount to create jobs in New Brunswick? Here’s a clue. Take all the government incentives given by the provincial government over the past five years. Add in all the government incentives from the five years previous to that. Add in all the government incentives from….
You get the picture.