The western world is engaged in a subsidy war where even the eventual winners may turn out to be ultimate losers
Rather than dole out increasingly more corporate welfare, Ottawa should use the country’s natural advantages to entice automakers while incentivizing innovation. We’re home to significant natural resources these plants need — in fact,with the lithium, cobalt and manganese deposits EV batteries rely on.
However, our ability to promote and capitalize on this advantage is hurt by the perception many of these minerals may never make it out of the ground. The Trudeau Liberals made setting up critical mineral supply chains highly unpredictable and slow-moving, bordering on impossible, when time is of the essence. Mines can take up to 15 years to become fully operational in Canada, and we needed these minerals yesterday.
Overly burdensome regulations and endless consultations must end. Canada can’t be seen as a risky place to invest where projects routinely disappear into bureaucratic blackholes. At the same time, we must promote not just public, but private investment in innovative ways to get minerals out of the ground faster.
As for Pierre Poilievre’s Conservatives, they must begin to act like the Official Opposition on this file. So far, despite spending hours fillibustering the Liberals’ wasteful budget in the House of Commons, they haven’t said much about runaway corporate welfare. Presumably, this is less because they agree with this egregious spending and more because they fear losing out on votes in Southwestern Ontario.
Canada can’t continue to blindly give away tens of billions of taxpayer dollars to private companies simply because everyone else is doing it. We must be a partner to industry, not its bottomless pocket.
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