We use cookies to provide some features and experiences in QOSHE

More information  .  Close
Aa Aa Aa
- A +

Margaret Shkimba: Loblaws $12 million gift an example of a good policy gone bad

1 0 3
16.04.2019

What was the federal government thinking when it decided to gift grocery mega-giant Loblaws with $12 million dollars of borrowed money for which the taxpayers are on the hook? I get that it was a green scheme to induce businesses and organizations to make their operations more energy efficient and that any business or organization could apply. I suppose that's the first mistake right there, no limits on applicants. So any applicant, no matter how much they could afford it, could dip their hands into taxpayers pockets to save themselves from funding efficiencies themselves.

That Loblaw can handily afford to pay for these business improvements is clear. They did smashing business last year posting a $3.25 billion profit, up 2.6 per cent from last year, beating analysts' predictions and increasing profits to shareholders. So clearly financial need wasn't a criteria.

Neither was a history of ethical business practices. Much as been made lately of SNC-Lavalin and their lobbying for a deferred prosecution agreement for their years of corruption in the construction industry. An issue of concern was their potential lockout from government contracts for 10 years if they were found........

© St. Catharines Standard