The Trudeau government has said that they will not revoke $372.5 million that they gave to Bombardier, even after the corporation said it is leaving commercial aviation, according to Blacklock’s Reporter.
The Liberal Minister for Industry Navdeep Bains said in a statement that “Our government has been steadfast in its support for the Canadian aerospace industry and its workers … we will continue to engage with all relevant parties to ensure that previous commitments are honoured.”
The Trudeau government gave an intrest-free loan of $372.5 million to Bombardier in 2017 to help with their production of the C-series aircraft. Soon after this, Bombardier cut 14,500 jobs, sold a majority of the C-series aircraft shares, and moved the production of the aircraft to Alabama.
Despite the huge redundancies, Bombardier executives saw it fit to grant themselves a 48 percent pay raise for six senior managers. These raises, however, were soon revoked after protests and condemnation.
Despite government support, Bombardier managed to lose $1.6 billion last year.
Speaking in the Senate, Conservative Senator Leo Housakos said that “The terms of the agreement were not fully disclosed to Parliament or the public … we still don’t know today if that $400 million was a grant or a loan, or when it will be repaid.”
Join and support independent free thinkers!
We’re independent and can’t be cancelled. The establishment media is increasingly dedicated to divisive cancel culture, corporate wokeism, and political correctness, all while covering up corruption from the corridors of power. The need for fact-based journalism and thoughtful analysis has never been greater. When you support The Post Millennial, you support freedom of the press at a time when it's under direct attack. Join the ranks of independent, free thinkers by supporting us today for as little as $1.
Remind me next month
To find out what personal data we collect and how we use it, please visit our Privacy Policy
