Wednesday, April 04, 2007

The Tory Nanny State

This has upset even the True Believers.

What they forget of course is that Canada is a mixed economy, that is it is a state capitalist economy. The state providing risk capital to private corporations, as well as running its own crown corporations. Though many of those are now privatized or arms length, they like the private sector still rely upon state funding and protective regulations of the market in their favour. Regardless of the government in power.

And there is no province that understands this better than Quebec whose industrialization has been subsidized by federal governments interested in defusing separatism. And once again the capitalist basket case that is Bombardier benefits. Liberal Tory same old story.

Ottawa is investing $900 million in Canada's aerospace sector over the next five years, Industry Minister Maxime Bernier announced Monday.

Bernier made the announcement in Montreal Monday alongside Public Works Minister Michael Fortier and industry executives.

Many aerospace companies are based in Quebec, including aircraft manufacturer Bombardier Inc., engine builder Pratt and Whitney Canada, components maker Heroux-Devtek and CAE Inc., one of the world's biggest providers of pilot training services.

The Tory government had been expected to unveil their replacement Technology Partnerships Canada for weeks now.

The TPC, whose mandate was not renewed last year, provided venture capital for corporate research projects.

It had long been criticized by the Conservatives as an example of the ineffectiveness of corporate subsidies.

Some argue that corporate subsidy programs like the TPC were less efficient than tax cuts or other approaches.

The Liberals say that the new program is a remake of their earlier program.

Also See:

A History of Canadian Wealth, 1914.

Origins of the Captialist State In Canada

Canada's State Capitalist Success

Corruption, nationalism and capitalism

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