Corporations took wage subsidy, cut employment

C4TF economist and researcher Dr. DT Cochrane is interviewed by CityNews about our latest report "Public Funds for Private Gains".

Our report found large profitable corporations took the Canada Emergency Wage Subsidy, bolstered profits, reduced employment, and avoided billions in taxes.

Cochrane tells CityNews the federal government can recover some of that money back to the public with a windfall tax on large corporations' excess profits.

 

Facts

9 February 2023

A new report by Canadians for Tax Fairness reveals large corporations in Canada received pandemic subsidies while boosting profits, avoiding billions in taxes, and making shareholders richer.

We looked at 74 publicly listed companies that were found in our previous report to have a tax gap* greater than $100 million. Half of them (37) received CEWS. 

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Public funds for private gains

Published on: 7 February 2023

Reading Time: 20 minutes

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Summary

Report

Private gains: Higher dividends, share buybacks, and acquisitions

 

Dividends

Dividends are the primary means by which companies return money to their own shareholders. They are typically paid each quarter.

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