By André Faust
The ATCON story, Whoopee shit, there isn’t anything new here so why all the fuss, ah right! the upcoming election, let’s try to revive a dead horse to win the election. Bottom line since the ATCON fiasco of 2009 there has been one change of government who as well as the former government didn’t take any action, then back to the current government. Nothing has changed the money is still gone. The only winners are the banks who were able to recoup 80%+, New Brunswick was only able to get back a miserly pittance of 4%.
The ATCON story is not new, it is a common practice of Corporations to extort money from the government by using the threat loss of jobs, or the promise of job creation or both, but in the end, they never deliver.
Like others, Atcon understood the province desperation to keep and create new Jobs. They looked at the economically depressed Miramachi and promised that if the government would provide them with the money they would create new jobs and save the existing jobs. The old “Streets are paved in gold” sales pitch. In reality what they actually mean is “Streets paved in charcoal”.
The government of the day took the chance, even though, in the past, these corporations never followed through with job creation and in some cases actually closed their operation after getting the money, but the government took the gamble and lost (again)
Had ATCON been successful, the payoff politically for the government would have been great, but like rest of the Corporate extortionist ATCON took the money and ran. The consequence was the liberal government was replaced with the conservative government, but that still didn’t change the outcome, the money is gone end of story.
In a report presented by Canada’s conservative think tank the Frazer institute the reported that Over a period of nearly 20-years, federal, provincial and local authorities together spent almost $684-billion on subsidies, mainly to private corporations — and the impact on consumers was marginal at best. When you calculate in the tax loopholes and breaks that figure is tremendously higher than stated.