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Fossil fuel subsidies poor use of tax money
Re: 2014 Federal budget
Finance Minister Jim Flaherty says his budget will “support Canadian families.”
In January 2013, the International Monetary Fund reported Canada’s implicit subsidies to oil, gas and coal companies amount to 1.52 per cent of GDP, or about $787 per Canadian. That’s more than $3,000 a year for a Canadian family of four.
Remarkably, despite cutting spending elsewhere, this budget did nothing to reduce these unnecessary subsidies for one of the world’s most profitable industries. Perhaps Mr. Flaherty considers the fossil fuel sector to be “family?”