Carney failing to protect steelworkers as Algoma Steel cuts 1,000 jobs
Algoma Steel announced this week that it will be laying off 1,000 employees despite the Carney Liberals announcing hundreds of millions in government loans for the company in September.
On last night's episode of The Ezra Levant Show, Ezra discussed how Mark Carney has failed to support Canadian steelworkers after Ontario-based Algoma Steel announced this week it will be laying off 1,000 employees.
The announcement by Algoma Steel comes despite the federal government and government of Ontario announcing half a billion dollars worth of loans to the company in the fall.
Back in September, the federal government announced $400 million in loans for Algoma, with Ontario chipping in another $100 million. The talking point was simple: protect jobs, promote Canadian steel, build prosperity. Yet here we are in December, and Algoma has announced layoffs affecting roughly 40 per cent of its workforce.
Two months ago, Carney claimed Canada is "building the strongest economy in the G7" and it will be achieved with "Canadian steel" workers. "We're taking action to support Algoma Steel — to protect high-quality careers and help our steel sector prosper," he wrote.
Building the strongest economy in the G7 will be achieved with Canadian steel and Canadian workers.
— Mark Carney (@MarkJCarney) September 29, 2025
We're taking action to support Algoma Steel — to protect high-quality careers and help our steel sector prosper.
Now, 1,000 Canadian steelworkers are being told they will be laid off just weeks before the Christmas holidays.
Ezra condemned Carney for attempting to implement his 'top down' approach to the economy where corporate survival depends not on innovation but on political favour.
Rather than creating the economic conditions for companies like Algoma to thrive, Ezra noted that politicians like Carney appear to believe in simply funnelling taxpayer funds to certain favoured businesses.
"Carney's sort of centrally-managed economy, centrally-planned, centrally-managed economy where big corporations lobby for grants or favours, but it's just not enough to overcome deep problems. That's not how you build an economy," he said.
Ezra also noted the easiest and most simple way to protect steel jobs would be to allow oil pipelines to be built, as pipelines are made of steel.
Northern Gateway, Keystone XL and Energy East represented tens of billions of dollars in construction, and unlike Algoma's bailout, none of that required taxpayer money. What it required was permission. And permission is exactly what Ottawa refused.
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COMMENTS
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Bruce Atchison commented 2025-12-03 19:36:34 -0500How I wish Danielle Smith could be cured of the net zero mind virus. Net zero means net zero wealth and net zero living. Putting carbon dioxide underground is utter insanity.
