TORONTO: The Canadian Taxpayers Federation (CTF) today ramped-up its campaign against bailing out big auto with taxpayer cash, with the launch of www.NoBailouts.ca.  The on-line petition will give taxpayers a voice to say no to the potential $10-billion of taxpayer money that the federal and Ontario governments have been asked to hand over to three failing companies.

The CTF has been leading the charge against bailing out failed big auto, opposing giving taxpayer cash to Chrysler, General Motors and Ford.  CTF Federal Director, Kevin Gaudet, said “big cash for big auto is a big mistake. It is fundamentally unfair and inequitable.  These bailouts never work and simply waste taxpayer money, delaying changes necessary for companies to become profitable.”  

$10-billion is at stake.  Ford is reportedly seeking access to credit facilities of around $1-billion.  General Motors is seeking some $7-billion. Chrysler has demanded forgiveness of its $1-billion from reported Canadian tax liabilities and another $2.3-billion from taxpayers while threatening to leave the country.

The petition at NoBailouts.ca states, “We the taxpayers of Canada work hard, pay our taxes and play by the rules.  We demand that the federal government stop throwing good money after bad and refuse to bail out the failed automakers.  Our voices will be heard.”

A decision date for bailouts was set by the US Congress and Canadian Parliament for March 31st.  Industry Minister Tony Clement has since announced his flexibility on this date.  Gaudet concluded, “government should put taxpayers out of their misery and just say no to this waste of money.”

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For more information, please contact Kevin Gaudet at 1-877-267-3218 or 416-203-0030.

By: Kevin Gaudet
Posted: March 24, 2009
Topic: Federal

Contact the regional director Gregory Thomas for further information.

Type: News Releases

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