A new report on the Bombardier bailout that was requested by the previous conservative government and that cost half a million dollars has come to light.
The report was commissioned to Deloitte, a consulting firm that provided the financial and market assessment of the company. Bombardier, a manufacturer of planes and trains, is asking the government for $1 billion dollars to aid in funding their controversial CSeries jet. The project has been delayed several times, allowing for competitors to get their own version of the plane to market and the company has run into financial difficulty.
Despite the issues, Justin Trudeau himself has praised the CSeries and the Liberal government is considering providing Bombardier with $1B in US funds, even though the Vice President of the company says that it isn’t necessary.
But what’s more is that the government has decided to keep the results of the report under wraps. Which probably suggests what we already know -- the company shouldn’t be getting a government handout.
Why would the Liberals be considering providing financial aid to the company, even though the company has said that they don’t need it? It is most likely because the government of Quebec is heavily invested in this project.
They too, have committed $1B in US funds to the project in exchange for a 49.5% stake.
Not only would the Liberals be providing bailout money to a fledgling company, they’d be bailing the provincial government of Quebec out of a boondoggle that would be on the backs of taxpayers.