Conservatives will review business subsidies in effort to save $1.5 billion

Canada World

The federal Conservatives say they can find $1.5 billion in savings each year by eliminating some of the federal funding received by businesses.

Conservative Leader Andrew Scheer was at a barbershop in Hamilton, Ont., this morning to make the announcement.

He said a Conservative government would review all federal business subsidies and eliminate programs where the funds benefit shareholders, corporate executives, foreign companies, lobbyists or consultants.

Scheer said the Conservatives never would have spent federal funds as the Liberals have, citing the $220 million spent to buy energy efficient gas turbines for the Canada LNG project in British Columbia and the $4.5 billion purchase of the Trans Mountain pipeline.

He also is gunning for what he called the $35 billion “boondoggle-in-waiting” Canada Infrastructure Bank.

The Conservatives have thus far pledged tax credits, cuts and grants exceeding $9 billion, which Scheer has said he will pay for by having different priorities than the existing government.

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