A federal briefing note says more than a quarter of Atlantic businesses that get federal subsidies fail within five years. “The business survival rate for Agency-assisted startups is 73 percent,” said the federal briefing note “Atlantic Canada Opportunities Agency” (ACOA). However, it goes on to say the survival rate for businesses that did not get taxpayers’…
Sichuan Soybean Farmers Have Zero Harvest From Authorities’ Seeds
Multiple farmers in Sichuan had zero harvests from the soybean seeds provided by local governments. While farmers intended to have the seeds verified and protected their rights, police intervention also took place. Last year, Sichuan provincial government announced the plan to procure seeds from local seed suppliers in response to the national soybean revitalization plan….
China Enters EV Trade War
China is boosting its economy with new subsidies that promote auto exports at the expense of jobs and industrial strength in the United States, the European Union, Japan, South Korea, India, and other allied countries. The subsidies could also decrease global emissions. By 2030, one in three new vehicle sales will be electric. China dominates…
Dental Care Grant for Children Budgeted 4 Times More Than Actual Cost: Canadian Dental Association
The federal government budgeted dental care grants for children at more than four times the cost of a typical dentist visit, according to the Canadian Dental Association (CDA). “Overall, 95.6 percent of all claims submitted for children under age 12 were for less than $650,” said the association in a submission to the Senate national…
Canadian Governments Spent Over $352 Billion in Business Subsidies Over 13-Year Period: Study
A total of $352.1 billion in business subsidies have been paid out by all three levels of government between 2007 and 2019, translating into thousands to tens of thousands of dollars spent by Canadian taxpayers, according to a Fraser Institute study. Tegan Hill and Joel Emes, senior economists at the think tank and co-authors of…
Federal Subsidy for Ottawa Businesses Affected by Freedom Convoy Came 36 Percent Under Budget
A federal agency mandated to give out $20 million in subsidies to downtown Ottawa businesses that it said suffered losses due to the truckers’ Freedom Convoy protest earlier this year struggled to find applicants for the money, Access to Information records show. The records show that the final payment given out by the Federal Economic…
Subsides for Me but Not for Thee
Commentary Although only some $52 billion in Washington’s $280 billion CHIPS for America Act actually aims to boost semiconductor production in the United States, Beijing is furious and has promised retaliation. China’s embassy in Washington has declared that Beijing is “firmly opposed” to the legislation officially called the Creating Helpful Incentives to Produce Semiconductors for…
Subsidies for Me but Not for Thee
Commentary Although only some $52 billion in Washington’s $280 billion CHIPS for America Act actually aims to boost semiconductor production in the United States, Beijing is furious and has promised retaliation. China’s embassy in Washington has declared that Beijing is “firmly opposed” to the legislation officially called the Creating Helpful Incentives to Produce Semiconductors for…
Argentina’s Government Collapsing, People Refuse to Work Amid Major Subsidy Cuts
Protests have erupted in Buenos Aires over the past 90 days and continue to build inside the capital as residents battle with their center-left government over sizeable amendments to social programs. Cuts to subsidies in the energy sector based on household income already began in June. Other subsidies, including the country’s notorious welfare program, are…
How CHIPS for America Act Chips Away at America’s Economic Freedom
July 26, 2022
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Commentary Congress and the Biden administration are gearing up a bloated Creating Helpful Incentives to Produce Semiconductors for America Act, but the CHIPS for America Act runs the real risk of chipping away at America’s economic freedom and competitiveness, rather than enhancing it. The Senate is scheduled this week to vote on the bill, whose…
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