Feds promise $1 billion to auto makers in Canada
NIAGARA-ON-THE-LAKE, Ont. (June 15, 2004) — The federal Liberals are promising $1 billion over five years to foster research, development and innovation in the Canadian auto and manufacturing industry.
Yesterday’s campaign announcement by Human Resources Minister Joe Volpe is an attempt to attract new production and steer current facilities from relocating to the southern U.S. or Mexico, where governments offer appealing subsidies and tax breaks.
Of the money, $500 million would match the Ontario government’s recent commitment to the vehicle industry, with $100 million earmarked for Ford’s planned factory upgrade in Oakville, west of Toronto, Canadian Press reports.
A similar amount is reserved for General Motors if it proceeds with a renovation of manufacturing operations in Oshawa, Ont.
Volpe claimed that under a Conservative government, jobs from such plants will go to Georgia or other locations outside Canada.
His announcement came as polls indicated the Liberals have been trailing in Ontario in the campaign for the June 28 election.
— from Canadian Press
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