Mr. Speaker, Technology Partnerships Canada is a massive subsidy program that offers less and less accountability.
Despite being billed as a job creation program, TPC no longer distinguishes between jobs created and jobs maintained. In fact, in some cases taxpayers are paying millions to create two or three jobs. According to its own figures, a $1.25 million contribution to Messier-Dowty Inc. of Ajax will create two jobs at a cost of $625,000 per job.
In addition, it cost Industry Canada more money to administer TPC last year than it actually collected in repayments. In fact, TPC has collected less than 1.3% of the money it is owed under its so-called strategic investments.
We do not blame the companies applying for these grants. We fault the government for its corporate welfare policies and its complete failure to properly account for taxpayer dollars.
It is time for the Liberal government to put an end to corporate welfare in Canada.