Quote:
Originally Posted by ucalgary2000
Hi folks,
I am torn over this one - having lived in Ontario before, I understand how the economy is so dependent on the auto sector and that the government has to step in to minimize job losses.
But it seems like such a terrible waste to spend all that money to cover CAW pension plans! Especially considering the huge deficit that the country faces over the next two years.
Die if you do, die if you don't. 
Thoughts? |
From my understanding the federal buyout money can't be used to top up the pension, however the provincial buy out money can be.
Sadly like Alberta's dependance on the energy industry, Ontario is far too dependant on the manufacturing and automotive industry.
I'm not a big fan of mass bailouts by governments on private industry. I think the money could be better spent on retraining the people who lost their jobs, and encouraging diversification of the economy.