Parliamentary Budget Officer (PBO) Yves Giroux is further analyzing the federal government’s large subsidy deals made with both Volkswagen and Stellantis to incentivize the automakers to build electric-vehicle battery plants in Canada. The PBO is requesting that the Department of Industry disclose to his office a copy of the agreement letter announced earlier this month…
EXPLAINER: What’s Going on With Subsidized EV Battery Plants in Ontario?
With the recent announcement that Stellantis and LG Energy Solution will be moving forward in building their electric vehicle (EV) battery plant in Windsor, Ont., following a financing deal with Ottawa and the Ontario government, there are now plans for two large EV battery plants to be built in the province, both of which have received significant government…
PBO’s $16B Estimate for Volkswagen Deal Is ‘Wrong,’ Freeland Says
Parliamentary Budget Officer (PBO) Yves Giroux was “wrong” in estimating that the federal government’s recent deal with Volkswagen to incentivize the German automaking giant to build an electric vehicle battery manufacturing plant in Ontario will cost taxpayers over $16 billion, says Finance Minister Chrystia Freeland. Freeland spoke to reporters in Ottawa on June 14 just…
Ottawa’s Volkswagen EV Battery Plant Deal Will Cost Over $16 Billion, Says PBO
The federal government’s deal with Volkswagen made earlier this year to incentivize the European automaking giant to build its first overseas electric vehicle (EV) battery manufacturing plant in Ontario will cost taxpayers over $16 billion, says the Parliamentary Budget Officer (PBO). “Based on our analysis, the federal government’s financial commitment to Volkswagen will total around $16.3 billion…
Toddler Returned to Parents After SUV Stolen With Child Inside in Florida
June 3, 2023
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A toddler was reunited with his parents in Florida shortly after someone stole his mother’s SUV with him inside, police said. The vehicle theft occurred Thursday morning outside a Holly Hill home, just north of Daytona Beach, after the 2-year-old boy was left sleeping in a car seat, Holly Hill police said in a news…
Budget Officer Probing Ottawa’s $13.8 Billion Volkswagen EV Battery Plant Deal
Parliamentary Budget Officer (PBO) Yves Giroux says his office is probing the federal government’s $13.8 billion deal with Volkswagen made to incentivize the European automaking giant to build its first overseas battery cell plant in Ontario. Giroux told The Epoch Times that his office began analyzing the expensive deal near the end of April and…
China Consultancy Crackdown Rattles Foreign Firms
Three American companies have been raided in as many months. Their China-based offices were targeted, as Beijing officials say China’s national security is involved. Those actions come under changes to Chinese spying law, and foreign business groups in the country are getting rattled. Topics in this episode: China Consultancy Crackdown Rattles Foreign Firms Rockwell Faces…
Volkswagen Battery Factory Will Exist for 100 Years: Industry Minister
The Canadian government will be providing subsidies for years to a Volkswagen battery factory being built in Canada that’s expected to last much longer. “This facility is expected to last dozens of years,” Industry Canada Deputy Minister Simon Kennedy testified at a May 4 Senate banking committee hearing. “The facility will take a number of years…
IN-DEPTH: Job Creation, Budget Accounting Questioned in Massive Subsidies Given to VW
News Analysis One of Ottawa’s biggest selling points for its record subsidy to Volkswagen—which could top $13 billion—is the potential creation of tens of thousands of jobs. But leading public policy expert Jack Mintz is highly skeptical and also questions how the feds project to cover the cost of the new gigafactory in under five…
Committee Votes to Review Contract, Question Minister, in Confidential Meeting About $13B Volkswagen Subsidy
A House of Commons committee has unanimously supported a motion to confidentially review the contract for the government’s multi-billion subsidy promised to Volkswagen Canada to build a battery plant in Ontario. The review will also include an appearance by Industry Minister François-Philippe Champagne at the closed meeting. Conservative MP Rick Perkins introduced the motion to the…
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