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Home Election Conservatives will review business subsidies in effort to save $1.5 billion

Conservatives will review business subsidies in effort to save $1.5 billion

HAMILTON — The federal Conservatives say they can find $1.5 billion in savings each year by eliminating some of the federal funding received by businesses.

Conservative Leader Andrew Scheer is at a barbershop in Hamilton, Ont., this morning to make the announcement.

He says a Conservative government will review all federal business subsidies and eliminate programs where the funds benefit shareholders, corporate executives, foreign companies, lobbyists or consultants.

Scheer says the Conservatives would have never spent federal funds in ways the Liberals have, including $220 million to buy energy efficient gas turbines for the Canada LNG project in British Columbia, and the $4.5 billion purchase of the Trans Mountain pipeline.

He also is gunning for what he called the $35-billion “boondoggle-in-waiting” Canada Infrastructure Bank.

The Conservatives have thus far pledged tax credits, cuts and grants exceeding $9 billion which Scheer has said he will pay for by having different priorities than the existing government.

This report by The Canadian Press was first published Sept. 18, 2019

The Canadian Press

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