I want all corporate welfare cut. These regional development agencies must go. I hope HM Minister of Finance uses the deficit to rid us of all corporate welfare.
Yet just last week, the Liberals were complaining about spending plans for the agencies at an Industry Committee meeting. Good on them, you might be thinking - except, the Grits weren't arguing that the $2-billion we spend every year on corporate welfare is a waste of taxpayers' money; rather, they were upset the Conservatives appear to have been quietly cutting budgets for business subsidies.
The newly-released Parliamentary Estimates suggest that, if the Conservatives follow through with their spending plans over the next three years, expenditure on the WED agency will have fallen 48% over their time in office - from $306.6-million in 2005-07 to $160.2-million in 2012-13; ACOA will have seen its funding cut 31%, from $427.3-million to $296-million in the same period; and, the Regions of Quebec agency will have had its budget reduced by 31%, from $334.2-million to $232-million.
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