Cut Canadian jobs – and get millions in tax dollars – a sweet deal for Pratt and ... - Ottawa Citizen

Written By Unknown on Selasa, 09 Desember 2014 | 16.14

Industry Minister James Moore responds to a question during question period in the House of Commons on Parliament Hill in Ottawa on Monday, April 28, 2014.

Sean Kilpatrick / CP

Pratt and Whitney Canada announced a plan to spend $1 billion — including $300 million from the federal government — over the next four and a half years to develop new aircraft engines, the Canadian Press wrote in its article Monday.

The Conservative government said its investment in the aerospace company will help support nearly 1,500 jobs over the next five years, according to the Canadian Press article.

"We are proud to support the aerospace industry and will continue to create the right economic conditions for Canadian companies to succeed globally," Industry Minister James Moore said in a news release.

The federal government's contribution comes in the form of a $300-million repayable contribution through its Strategic Aerospace and Defence Initiative, the Canadian Press noted.

But CTV News had an additional interesting take on this announcement – It noted that the Conservative government has made three major investments in Quebec-based Pratt and Whitney Canada since 2006. But since the first major pledge was made, the company has reduced its Canadian workforce by about 1,000 employees, the CTV report discovered.

The Canadian Taxpayers Federation wasn't amused.

Read more of the CTV article here: http://www.ctvnews.ca/business/feds-give-pratt-and-whitney-another-300m-loan-despite-shrinking-workforce-1.2137601#ixzz3LMBKWJkg


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