Mark Milke at the Financial Post explains how our neighbor to the north is dealing with corporate welfare in their budget as well.
If there was a theme in the recent federal budget, it was how chock full it was with new corporate welfare. The underlying refrain was how big government will help big business with your tax dollars…
Corporate welfare is a politically created illusion with no visible means of support. Economists who study crony capitalism are clear about why it fails: Money is taken from taxpayers and from productive businesses. In the case of businesses, such money is sometimes transferred to businesses in the same sector at the expense of the “giving” business.