Monday, October 22, 2018

$2.6B OF TAXPAYERS' MONEY WRITTEN OFF

   The Liberal government has quietly written off a $2.6-billion auto-sector loan that was cobbled together to save Chrysler during the 2009 global economic meltdown.
  The write-off, among the largest ever for a taxpayer-funded bailout, is buried in a volume of the 2018 Public Accounts of Canada, tabled in Parliament on Friday.
   The reference contains no explanation for the write-off, identifying neither the business that received the loan nor the sector of the economy.
    Aaron Wudrick, federal director of the Canadian Taxpayers Federation, said the Chrysler write-off is yet another example of governments keeping citizens in the dark about how their tax dollars bail out corporations.

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