Diane Francis: A ‘Great Reset’ isn’t the problem. The ‘great rerun of stupid handouts’ is
Grants and subsidies do not build economies and wealth. They only create dependency and mirage
Canadian governments have two aptitudes: raising taxes and giving away money.
Added to that problem are concerns that Prime Minister Justin Trudeau’s Liberal government is going to launch a “Great Reset,” a term coined years ago by the Davos elite, aimed at somehow transforming Canada from Sweden-lite into a green-socialist utopia.
Our only saving grace may be that the Liberals have already spent the country poor: with an unsustainable deficit and some of the highest taxes in the world, the government has limited wiggle room financially.
Of far greater concern, to me, is that the Liberals will unleash more of the same — crony giveaways dressed up as “solutions” paid for by Canadian taxpayers.
The template already exists. The WE Charity scandal was a public relations campaign mounted by Trudeau’s pals, who scored a sole-source contract worth hundreds of millions of dollars to dole out funds designed to address youth unemployment. That ended in a parliamentary investigation and a high-profile resignation.
But it was nothing new, merely a not-for-profit version of how the Liberals proposed to close Canada’s “technology gap” and create a Silicon Valley north: the Liberals bankrolled a scheme, run by civil servants without technology or business expertise, and issued billions of dollars in grants — often without strings attached — to inappropriate and questionable people, mostly on the basis of slick slide decks sprinkled with buzz words like “tech ecosystem,” “accelerators,” “platforms,” “networks,” “clusters” and so on.
Source: Diane Francis | Financial Post