TORONTO: The Canadian Taxpayers Federation (CTF) today expressed its opposition to the latest federal government handout to Pratt & Whitney Canada Corporation of another $300 million. CTF federal director Kevin Gaudet, attacked the subsidy saying, “Industry Minister Clement is playing Santa to Pratt & Whitney at great taxpayer expense. Before today’s $300 million announcement, the company had already soaked taxpayers for $2.158 billion, the vast majority of which has not been paid back.

The CTF released federal Access to Information details of 43 years of Pratt & Whitney subsidies.  The 79 subsidies began in 1967 and total in excess of $2.158 billion. To see the subsidy list click HERE.

The latest Industry Canada repayment report shows Pratt and Whitney repayments of a mere $124 million against $1.041 billion of conditionally repayable contributions.

The CTF questions Industry Canada’s support totals for Pratt and Whitney which are nearly $1-billion less than documents relelased to the CTF under Access to Infromation.  “It may not be clear what Pratt and Whitney has paid back, but it is abundantly clear we should not be doling out more money to them,” said Gaudet.

It was four years ago today that P & W received its last government handout of $350 million. To see the announcement click HERE.

THis federal government is going into debt at athe rate of $124 million a day. It's high time they got their priorities straight, Gaudet added. “Playing banker with taxpayers’ wallets is not one of them.”

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