I object to corporate welfare. The stare has no business picking winners and losers in business. Giving money to corporate behemoths like Suncor is a joke. This is a good first attempt to remove some of the billions HM Canadian Government hands out of our money. We need to cut all of it!! We should also continue to lower corporate tax rates and reduce capital gains taxes.
Canada Won’t Commit New Funding for Renewable-Energy Program, Oliver Says
By Andrew Mayeda - Jul 28, 2011 5:25 PM ET
Canada won’t commit new funding to a C$1.4-billion ($1.47 billion) program used by companies such as Suncor Energy Inc. (SU) and TransAlta Corp. to fund renewable-energy projects, Natural Resources Minister Joe Oliver said today.
Canada plans to cut C$4 billion in spending annually to help it balance its budget by the fiscal year starting April 2014. Oliver said spending restraint was one reason his department hasn’t renewed the ecoEnergy for Renewable Power program, which funded wind farms developed by Suncor and TransAlta as well as solar-power projects developed by Enbridge Inc.
“You’ve got to make choices. You’ve got to make decisions. Things have to be affordable,” Oliver said in a telephone interview with Bloomberg News.