GM to end production of BrightDrop electric cargo van

  • Like
Reactions: Nawk and Igor Galanter
Whether it is the Federal government handing out money to GM or the Provincial government, supporting failed electric battery plants, cash grants to private businesses should be the last tool used to create or secure private sector jobs. Tax incentives/deferrals at the Federal level, reduced land taxes and development charges at the Provincial and Municipal level are legitimate and potentially less costly methods of support. Giving money to companies that should be able to stand on their own two feet is really just a vote buying exercise disguised as good economic policy. As we have seen all too often, large corporations cannot be trusted to honour their commitments. The only people they are beholden to are their shareholders, and as private companies, rightly so. As a result, any government, at any level is gambling with their taxpayers money in the hope that these corporations will do as they promise. Nice when the bet comes in, not so much when it busts.
 
  • Like
Reactions: Bbigrig, Igor Galanter and Shakey
Jim L said:
We're only throwing away $259 Million that Justin gave to them in April 2022. Way to go Government of Canada. What's next? Tax increase?
Click to expand...
No no, import millions of TFW's to beef up tax revenue and top up the dwindling, mismanaged Canada Pension fund. That'll fix everything. Oh, wait.
 
JACKBURTON said:
No no, import millions of TFW's to beef up tax revenue and top up the dwindling, mismanaged Canada Pension fund. That'll fix everything. Oh, wait.
Click to expand...
“Dwindling, mismanaged”? That’s hardly the opinion of most global financial analysts . CPP ranks 13th in global pension funds, not too bad for such a small country in terms of population. A long term AAA rating and a history of prudent, successful management, all during the tenures of various political parties. No, I am not at all worried about my contributions or those of my children and grandchildren. I wish we could make additional contributions to CPP over and above the present limits.
 
loaders said:
“Dwindling, mismanaged”? That’s hardly the opinion of most global financial analysts . CPP ranks 13th in global pension funds, not too bad for such a small country in terms of population. A long term AAA rating and a history of prudent, successful management, all during the tenures of various political parties. No, I am not at all worried about my contributions or those of my children and grandchildren. I wish we could make additional contributions to CPP over and above the present limits.
Click to expand...
Don't spend that $900 a month all in one place eh?
 
BPOVFB said:
Just pull up by your boot straps, or have your PSW do it - you'll be fine
Click to expand...
After all these years of making obscene amounts of money off the sweaty backs of all the hard working carriers I have dealt with, my current reliance on CPP benefits to fund my lavish life style is extremely minuscule. Having said that, I will still gladly cash their cheques each month.
 
Wow, this spun off topic. But this plant was on shutdown since Feb I think ... the problem is they don't have the traction with Amazon/FedEx etc ...

Wait, they could have kept the plant open by supplying trucks for Canada Post ...
 
loaders said:
Whether it is the Federal government handing out money to GM or the Provincial government, supporting failed electric battery plants, cash grants to private businesses should be the last tool used to create or secure private sector jobs. Tax incentives/deferrals at the Federal level, reduced land taxes and development charges at the Provincial and Municipal level are legitimate and potentially less costly methods of support. Giving money to companies that should be able to stand on their own two feet is really just a vote buying exercise disguised as good economic policy. As we have seen all too often, large corporations cannot be trusted to honour their commitments. The only people they are beholden to are their shareholders, and as private companies, rightly so. As a result, any government, at any level is gambling with their taxpayers money in the hope that these corporations will do as they promise. Nice when the bet comes in, not so much when it busts.
Click to expand...
Are you suggesting had the govenment owned the means of operation that all of sudden this investment would have been successful? IMHO, the problem isn't the ownership, it's the liberal clean energy push that incentivized these companies to take on failed projects. The demand just isn't there for EV and their forceful gas vehicle ban by 2035 will be scrapped too soon enough.
 
  • Like
Reactions: JACKBURTON
senditover said:
Are you suggesting had the govenment owned the means of operation that all of sudden this investment would have been successful? IMHO, the problem isn't the ownership, it's the liberal clean energy push that incentivized these companies to take on failed projects. The demand just isn't there for EV and their forceful gas vehicle ban by 2035 will be scrapped too soon enough.
Click to expand...
Not at all. I am suggesting that any level of government who decides to hand out cash grants to large corporations in return for the promise of continuing employment, is making a serious mistake. Regardless of which industry the corporation maybe involved in. There are better, less risky ways to incentivize corporate development and expansion.
 
Last edited:
  • Like
Reactions: senditover, Shakey and JACKBURTON
loaders said:
Not at all. I am suggesting that any level of government who decides to hand out cash grants to large corporations in return for the promise of continuing employment, is making a serious mistake. Regardless of which industry the corporation maybe involved in. There are better, less risky ways to incentivize corporate development and expansion.
Click to expand...
Ya, like put a HUGE tariff on their goods coming into Canada. That sounds like an incentive for a company to stay. (If only I could take credit for that idea ;))
 
You must log in or register to reply here.
Top Bottom