Bombardier Inc. is where tax money goes to die.
Of all the Liberal boondoggles to benefit Quebec and party faithful, the serial subsidization of the fabulously wealthy Beaudoin-Bombardier family ranks highest. Since 1966, it’s estimated Bombardier has received nearly $4 billion in bailout money from both provincial and federal governments, according to the Montreal Economic Institute, and received another $11 billion in Export Development Canada (EDC) loans to help its customers buy their planes and rail cars.
A major factor behind Bombardier’s subsidization has been the EDC, which finances Canadian companies doing business abroad. It’s also self-financed. But, like most other federal agencies in Canada, the EDC president and board members are appointed by the Government of Canada, and report to Parliament through the Minister for International Trade.
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