Two crazy facts about the Algoma Steel fiasco I didn’t know until just today
A billion dollars in public money vanished into the Algoma Steel fiasco, and the politicians who signed the cheques knew layoffs were coming.
BECOME A MEMBER
Tonight, on The Ezra Levant Show, the Algoma Steel scandal keeps getting worse, not because of the thousand workers now out of a job, but because every level of government appears to have known this disaster was coming and handed over public money anyway. The real story here isn’t corporate greed; it’s political complicity.
Just weeks ago, Algoma pocketed half a billion dollars in government loans, $400 million from Ottawa and $100 million from Doug Ford’s Ontario. Then came the mass layoffs. At first glance, it looked like a sharp corporate bait-and-switch: take the cash, then fire the workforce.
But one clip that surfaced this week changes everything. Algoma’s CEO bluntly acknowledged that no one forks over $500 million without scrutinising a company’s business plan. In other words, the governments knew exactly what was about to happen. They approved it. They funded it.
And Doug Ford confirmed as much, openly admitting he was aware of looming layoffs before approving Ontario’s $100-million loan. His defence? “The Titanic was sinking.” Yet he threw taxpayer money into the water anyway.
BREAKING: Ontario Premier Doug Ford acknowledged that his government was aware that massive layoffs at Algoma Steel were imminent, well before the province agreed to loan the company $100 million in taxpayer funds.
— Colin D'Mello | Global News (@ColinDMello) December 3, 2025
"The Titanic was sinking." https://t.co/7owx4KjbUR#onpoli
Ottawa, for its part, offered no outrage, no condemnation ... because, as it turns out, this wasn’t a surprise to them at all. Instead, the CBC swooped in late last night with a helpful bit of narrative massaging. Their story framed the billion-dollar funding as smart climate investment, complete with carefully selected experts praising Algoma’s plans to cut emissions by up to 80 per cent.
According to these academics, the layoffs are simply an unfortunate side effect of “leading-edge” technology. In this telling, a thousand families losing their livelihoods is the acceptable price of a greener furnace. But if the alleged competitive advantage of this miracle technology is so overwhelming, why does it only appear when fuelled by enormous government subsidies? Only a professor paid by taxpayers could deliver that answer with a straight face.
A union representative revealed another inconvenient truth: there were no job-protection strings attached to the funding. Not one. Ottawa and Queen’s Park handed Algoma a billion dollars without requiring them to keep workers employed. That tells you everything about the priorities at play: emissions over employment; optics over responsibility.
Meanwhile, Algoma’s CEO, celebrated just last week by the Globe and Mail as “Corporate Citizen of the Year”, quietly exited the company after collecting $5.6 million in compensation. A tidy reward for securing a mountain of public cash while presiding over mass layoffs.
This is the real club: government, media, corporate lobbyists, environmental crusaders: all congratulating each other while workers pay the price. The only people who didn’t know the plan were the thousand men now out of work.
GUEST: Alexa Lavoie and Guillaume Roy join to discuss the recent assaults while covering a protest.
COMMENTS
-
Dalyce McCue commented 2025-12-30 15:52:16 -0500Montreal police as well as Toronto police services are obviously being ordered to stand down in these situations. They are part of the problem with where this country is headed with the WEF’s man at the helm. -
Arta Withers commented 2025-12-04 11:04:54 -0500Carbon in steel is necessary. Dropping carbon content 70-80% will make it more brittle and not suitable for some projects. Would you build a bridge in northern Canada where the steel will expand and contract with temperature change not to mention the stress involved already involved with a bridge. I would like to see the study for possible risks involved with the change. Keep up the good work, Albertadon
-
Anthony Salotti commented 2025-12-04 05:53:48 -0500Why am I not surprized . It’s the typical government horse crap way of trying to fix something by throwing our money at it .
-
Bruce Atchison commented 2025-12-03 22:00:18 -0500It’s time to boot out the club. These grifters in high places need to pay for their crimes. Robbing the citizens through white collar means is just as vile as holding them up with a gun.
-
Miriam Gampel followed this page 2025-12-03 20:55:43 -0500
-
mark gaboury commented 2025-12-03 20:46:23 -0500In his speeches, Carney uses the term, ‘scaling capital.’ I looked this term up. In simple speech, it means ‘corporate welfare.’ That’s what’s going at Algoma Steel. ‘Capital’ is being ‘scaled.’ It’s getting ‘scaled’ from the taxpayer to Algoma.
