Federal Agency Empowered to Dole Out Money to Private Enterprise
The Federal Economic Development Agency for Southern Ontario (FedDev Ontario) is one of the agencies doling out money to private enterprises. Other regions are covered with similar pay-the-rich agencies. It alone has doled out billions of dollars to private interests since its inception in 2009. FedDev only releases general figures while mostly redacting specific amounts and recipients.[1] The payments from FedDev are separate from specific large public amounts from federal and provincial governments to identified recipients such as the global cartel auto and steel enterprises receiving billions for transition to more advanced means of production and cheap infrastructure.
FedDev Ontario's most recent handout on January 11 was $2 million going to the owners of Amino North America Corp. (Amino), an automotive body panel and components private enterprise in St. Thomas near London. The announcement says this payment to private owners of the collective socialized economy brings the recent total of FedDev handouts in the London area alone to $60 million.
The federal government payments to private enterprises occur while all levels of government are starving social programs of needed investments to hire additional staff and improve and expand their outdated means of production. Social programs such as education and health care are faced with unprecedented population growth and demands on their services from working people whose standard of living is constantly being eroded.
The larger FedDev Ontario announcements of payments, as well as the other more spectacular ones, are accompanied with lavish praise of how they will save the economy and provide employment. Why the funding should happen at all is never discussed nor the consequences of strengthening the trend towards the rich becoming richer and more powerful while working people face a constantly lower standard of living and punishing insecurity. The handouts to those in control of private enterprise strengthen their positions vis-à-vis those they employ from the working class, the governing political system and their expropriation of profit from the new value workers produce. In this way the rich assert their rule with more authority in contradiction with the conditions of a modern collective socialized economy and life that cry out for a new economic and political authority of those who do the work.
The working people of Ontario and the rest of Canada demand control over their lives and in particular over politics and the socialized economy where they are the producers and on which they depend for their existence. The people demand a stop to these pay-the-rich schemes. Public payments should go towards increased investments in social programs and towards strengthening public control and ownership of the socialized economy and not private property and the power of the ruling oligarchs.
Stop Paying the Rich! Stop Paying
Government Debt and Borrowing
from
Private Moneylenders!
Increase Investments in Social
Programs!
Working
People Require a New Pro-Social Direction for the Economy
Under
the
Control of Those Who Do the Work and Who Depend on the
Socialized Work
for Their Existence!
This article was published in
Volume 54
Numbers 1-2 - January - February 2024
Article Link:
https://cpcml.ca/Tmlm2024/Articles/M5400115.HTM
Website: www.cpcml.ca Email: editor@cpcml.ca