Taxpayer Logo

Official site of the
CANADIAN TAXPAYERS FEDERATION
a citizens advocacy group dedicated to lower taxes,
less waste and accountable government.

[$description:substr(start="0",length="10")]
[$description:striptags():escape():substr(start='0',length='150')]
[$description:striptags():escape():substr(start="0",length="150")]

CTF Condemns Corporate Welfare for Pratt & Whitney

December 08, 2014
CTF Condemns Corporate Welfare for Pratt & Whitney

OTTAWA, ON: The Canadian Taxpayers Federation (CTF) today expressed severe disappointment at the federal government’s announcement to provide Pratt & Whitney Canada with a $300 million dollar “loan.” 

“We’ve seen this movie before, and the ending is always the same: taxpayers pay through the nose and a profitable private company is laughing all the way to the bank,” said CTF Federal Director Aaron Wudrick. “Pratt & Whitney is one of the most egregious corporate offenders, milking billions from Canadian taxpayers since the 1960s.”

Pratt & Whitney Canada’s corporate parent had an operating profit of $1.9 billion in 2013. The company employs 6,000 people in Canada, down from 7,500 in 1997.

“Why does a highly profitable international corporation require $300 million in loans from the Canadian government? Pratt & Whitney Canada has received so much money, so often, it is actually difficult to track precisely how much they’ve been into the trough for,” continued Wudrick. “The federal government insists they have repaid or on schedule to repay all their loans – but can’t give us a clear picture of what was repaid or when, can’t tell us how many jobs have been lost or created, and can’t explain why Pratt & Whitney deserves special treatment    

LEAVE A COMMENT

You have successfully posted your comment. Please allow 24 hours for your comment to be reviewed before being published to the site.

Sign in to leave a comment

You have successfully posted your comment. Please allow 24 hours for your comment to be reviewed before being published to the site.

You have the power to change who influences politics in our country: big unions, big corporations and government-funded special interest groups can be challenged by the contributions of thousands of individual taxpayers who care to make a difference.

FEATURED PETITIONS

JOIN US

Join over 81,000 Canadian Taxpayers receiving our Action Update newsletter. I understand that I may unsubscribe at any time.

RECEIVE THE TAXPAYER MAGAZINE!

“False Alarms”“Message Delivered”
The Taxpayer