Friday, November 14, 2008

Taxpayers group: No time for auto bailout - National Post blogs

After dishing out $782-million since 2003, it is time for the federal and Ontario governments to refrain from providing further financial assistance to the ailing North American auto makers, say taxpayer advocates.

The Canadian Taxpayers Federation said in a statement Thursday that they were able to trace, by using the Access to Information process, how much money governments have poured into the big North American auto makers. It found that $782-million of government was given out or promised since 2003.

“Taxpayers cannot afford to continue to bail out mismanaged companies that expect perpetual handouts in good and bad times,” said Adam Taylor, the federation’s acting federal director. “The Big Three’s demand for tax dollars occurs as regularly as these same companies shed shifts and jobs and it’s time to put a stop to throwing good money after bad.”


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