OTTAWA — The federal government has now spent nearly $200 million to subsidize steel and aluminum companies using a fund originally designed to spur cutting-edge innovation, drawing criticism from policy experts for what they call a misuse of funds.
But several experts on innovation policy in Canada have criticized the fund, arguing that sound innovation spending should not typically flow into specific sectors just as they face acute crises. But policy experts say the fund, similar to past programs, has fallen into a familiar pattern of industry subsidization, placing too much emphasis on broader economic indicators rather than looking to commercialize promising new technologies.
The federal government, for its part, has defended its active spending record. Bains’ spokesperson Dani Keenan said Ottawa is “helping bolster the competitiveness of Canadian manufacturers” through the steel and aluminum subsidies. It has spent a total $1.7 billion under the fund, according to its website.
New industries?
Good ! Giving back tarrifs collected to the companies & workers affected SteelworkersCA CDNpoli
Wheres the Millions in steel SteelworkersCA Tariff money JustinTrudeau collected ? It belongs to the CDNpoli companies affected