Sweet Tic Tac Corporate Welfare Should Stop
Author:
Kevin Gaudet
2007/08/20
Toronto: The Canadian Taxpayers Federation (CTF) today criticized the McGuinty's government's announcement of $5.5 million plant upgrade for Ferrero Canada Limited, makers of Tic Tac and Rocher chocolates. The money is to go towards a plant expansion in Brantford Ontario. CTF Ontario Director Kevin Gaudet said, "$5.5 million buys a lot of Tic Tacs and McGuinty clearly hopes it will buy a lot of votes in Brantford."
Ferrero Canada Limited is a subsidiary of Ferero USA Ltd, one of the world's largest sellers of confectionary products. Ferrero is a private company so its sales and profit numbers are not public. The $150 million Brantford plant opened in 2005. Canadian CEO, Franco Veglio, was contacted by the CTF and when asked what the money would be used for he stated that the money has already been spent for plant upgrades.
Gaudet concluded, "there is no good reason to give a private, global, profitable firm taxpayer money. Vote-buying schemes like this, on the eve of an election, should stop. They say that Tic Tac is more than a breath mint. It sure is. It's a taxpayer cash mint."