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.
Canada’s emergency wage subsidy ‘was really a blank cheque to companies’: Canadians for Tax Fairness
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.