Wednesday, July 20, 2005

Emerson admits corporate welfare program a loss for taxpayers

As usual, the CTF is on on the scene:

Mr. Williamson and many other critics say TPC is simply "corporate welfare," and that too much of its money is spent on large companies. Longueuil, Que.-based Pratt & Whitney Canada Inc., for example, has so far received at least $484-million for seven projects.

Recent examples of TPC investments include $1.4-million to help GasTOPS Ltd. of Ottawa develop sensor technology for detecting metallic debris in lubricating oil systems, $3.4-million to help Toronto-based Integran Technologies Inc. research new nano-technology-based coatings for the aerospace industry, and $1.95-million for Luxell Technologies Inc. of Mississauga to develop flat-panel display technology for the aerospace and defence industry.

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