While continuing to profess confidence in Canada’s superiorly regulated financial institutions that his government continues to financially back, including an additional $50 billion yesterday, Flaherty of Finance has decided to write off Ontario’s auto industry industry.
Based on conversations he has had while walking down the street our Finance Minister went on national TV yesterday to inform us that the Canadian auto industry could disappear.
There are many people saying we should do something with respect to the auto sector," Flaherty said Wednesday.There are 150,000 workers directly employed by the Canadian auto industry and at least five times that number in supporting industries.
But I can tell you even in my own riding, where I was yesterday, in Whitby-Oshawa ... there are lots of people who say, 'Don't do anything. Don't use my tax money to bail out an enterprise that may not survive.
These are not highfalutin rich people that are saying this to me - these are people on the street.
If one of our governments options is to sit back and let the Canadian auto industry disappear, what plans are they working on to handle 500,000 Canadians loosing their jobs.
I don’t think moving half a million Ontario workers to Saskatchewan is going cover this.
Of course this is just exaggeration and conjecture on my part.
Eventually Harper’s government will follow the US lead and if they provide a financial package to the auto industry, Canada will follow suit.
I just have less and less patience for this loose lipped finance minister that continues to forget where his seeds were sown.
Reference: Macleans here.