AN END TO CORPORATE WELFARE

In every province and federally, the CTF has long demanded not only an end to corporate welfare, but legislation preventing the practice. A significant victory was won in Alberta with the 1996 passage of the Business Financial Assistance Limitation Act (now rolled into the Financial Administration Act) which prohibits new loans and guarantees from being issued without the passage of specific legislation, ensuring full public debate before tax dollars can be sunk into any business venture. It is the only jurisdiction in Canada with such a law in place.

Federally, the CTF was hopeful back in 2006 when the Conservative Party under Stephen Harper had campaigned on eliminating corporate welfare and regional development agencies.

However, since taking office, these programs have actually expanded.