TPC Program Update - Gravy Train rolls on (en francais)

TPC Program Summary

Corporate Welfare Plan Fails on All Counts

OTTAWA – James Rajotte, Member of Parliament for Edmonton-Leduc and Senior Opposition Critic for Industry, Science and Technology today admonished Industry Minister David Emerson for backing out of the promise to make Technology Partnerships Canada (TPC) program a cost recovery program. According to Emerson, a good deal of the $2.8 billion in taxpayer dollars that was supposed to be repaid is now forgone and will never be collected.

“The Minister’s comments prove the Conservative Party has been right all along,” said Rajotte. “TPC is nothing but a corporate welfare program designed to support a few companies at the expense of taxpayers and with little or no long term positive effect on the economy.”

Most of the $2.8 billion dollars already 'invested' is gone - never to be repaid. Industry Minister David Emerson has backed out of a promise to make the TPC a cost recovery program, so that taxpayers, not corporate shareholders, could get a return on their investment. We are opening ourselves up to WTO claims of unfair business subsidies with the continuation of this program as it stands. In spite of all that:

Onward rolls the gravy train - Government of Canada Invests in Clean Energy Technology

Minister Emerson has already admitted what a sham the 'investment' part of this fund is. I guess he forgot to let the press release people know. I'm really looking forward to Industry Canada's next 'report' on the Technology Partnerships Canada program.

Partnerships? Well, I guess if you can believe Belinda wasn't promised anything for crossing the floor, you can believe anything.