Taxpayers Federation reacts to Bombardier sale of commercial aircraft division
OTTAWA, ON: Canadian Taxpayers Federation Federal Director Aaron Wudrick released the following statement in response to today’s announcement that Bombardier has sold its remaining stake in the A220 partnership with Airbus:
“It’s good to see Bombardier making tough decisions to move forward and the best part is that Canadian jobs are being safeguarded without another huge bailout from taxpayers.
“For more than half a century Canadian governments have been subsidizing Bombardier to the tune of billions of dollars. At most, it’s only delayed the inevitability of tough decisions like the one today.
“We are pleased to see that at long last, governments are recognizing that this approach is wasteful and unfair to taxpayers. By allowing Bombardier to sell off unprofitable assets, the company is finally being treated like any normal businesses in the marketplace.
“For too long, the justification for every taxpayer bailout has been the protection of jobs. It is notable that part of today’s announcement does not mention any job losses, instead confirming that employees connected to the A220 and A330 projects will be transferred to Airbus.
“We encourage the federal government to ensure the company repays all outstanding loans to Canadian taxpayers, and wish Bombardier all the best as it reinvents itself as a viable, profitable private enterprise.”