Stellantis takes Canada's corporate welfare and runs to the U.S.
Canadian Taxpayers Federal director Franco Terrazzano tells The Ezra Levant Show that corporate welfare isn't the way to attract business in Canada — it's cutting taxes and red tape.
Automaker Stellantis announced a $13 billion investment in manufacturing in the United States in October, with CEO Antonio Filosa reiterating the company's commitment in an Oval Office meeting alongside President Donald Trump this week as he moved to roll back Biden-era fuel-economy standards.
Canada, on the other hand, pledged a similar amount to Stellantis in incentives, only to see the company scrap plans to produce the Jeep Compass in Brampton, shifting its development to the U.S. instead.
On Thursday's episode of The Ezra Levant Show, federal director of the Canadian Taxpayers Federation Franco Terrazzano joined the show to discuss, as Ezra put it, how “corporate welfare” recipient Stellantis just “took the money” and ran.
“The real issue is the politicians and the bureaucrats spending taxpayers' money,” Franco said, blaming federal and provincial cabinet ministers for offering handouts to corporations.
Algoma Steel has come under fire for taking a similar deal, but it's not just those two companies, warned Franco.
“The total corporate welfare from the federal government to EV battery plants and the EV supply chain is like $30 billion,” he said. “You know what I think we need here in Canada? A no more business boondoggle law.”
Ezra agreed, saying he blames politicians for giving corporations “free money,” and slamming Industry Minister Melanie Joly for either failing to read the Stellantis contract, as has been reported, or making a critical mistake.
Politicians think about “political incentives” like ribbon-cutting ceremonies and photo opportunities, added Franco.
“The only way these governments are getting the money to hand out their corporate welfare is by taking money first from individual Canadians and from the small business right across the corner,” he continued.
“It's worse than awful economic policy; the government is taking money from Canadians and turning around handing bucks and cash to businesses.”
Creating a business-friendly environment is done not with corporate welfare, the taxpayer advocate said. “You do that by cutting taxes and cutting regulation and bureaucracy.”
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