Public money funds business

Dear editor,

Re: NDP‚ problems go deeper

Tom Fletcher informs us that, if it weren’t for private capital, competition and rewards for efficiency and innovation there wouldn’t be much of a developed world to analyze.

Only the Fraser Institute would agree with that statement.

In the real world it is mainly the concessions and publicly funded loans and grants that our economy depend on. It is these loans and grants, plus investor capital that business operates on. Corporations such as Alcan, Canfor and Bombardier, to name a few, routinely seek public money to improve their investments in our natural resources.

Industry Canada and Western Economic Diversification, not private money, is the basis of corporate involvement in our economy. The billions loaned and granted to the business sector may never be returned to the taxpayers, let alone the interest on top of that.

Revenue Canada states that a large number of businesses pay low or no federal taxes. Government subsidies, not private capital are the real promoters of our economy.

Brian J. O’Neill

Burnaby

Just Posted

Port Alice gets two RCMP officers stationed in the village

“The second Port Alice RCMP position has been filled”

B.C. storm totals $37M in insured damages

The December storm wreaked havoc on B.C.’s south coast

New look and feel on the horizon for Gate House Theatre in Port McNeill

“We are hoping between now and then to do another fundraising campaign for acoustics”

North Island Bantam Eagles capture Tier Three banner with win over Powell River Kings

The Eagles next game is Jan. 19 against the Juan De Fuca Grizzlies at 4:00 p.m. in Port McNeill.

Mainroad meets with Regional District of Mount Waddington

“It was really nice to have Mainroad there to give a presentation to the RD”

Fashion Fridays: Inspirational gym outfits

Kim XO, helps to keep you looking good on Fashion Fridays on the Black Press Media Network

Russian fighter jets collide over Sea of Japan crews eject

One plane crashed after its crew ejected safely, the other crew also ejected but they have not been found

Judge to deliver verdict in British sailor’s gang rape case

The alleged gang rape took place at a Halifax-area military base in 2015

B.C. minister fears money laundering involves billions of dollars, cites reports

The government had estimated that it was a $200-million a year operation, instead estimates now peg the problem at $1 billion annually

BC Hydro scammers bilked customers out of nearly $45,000 in 2018

Nearly 2,000 people reported scams to the utility, as they continue to be more common

Overworked and understaffed: More than 300 vacancies in Vancouver Island nursing

Tentative deal with province includes ‘working short premium’ to encourage hiring

Olympian snowboarder Max Parrot diagnosed with Hodgkin’s lymphoma

Each year in Canada, approximately 900 people are diagnosed with Hodgkin’s lymphoma

‘Prince of Pot’ Marc Emery accused of sexual assault, harassment

Emery denied the allegations, but a Toronto woman says she is not the only one speaking out

Vancouver Island photographer makes National Geographic’s 2018 elite

Rare double honour for Marston from the 36 best Your Shots out of nearly 19,000 photos

Most Read