Showing posts with label investment canada act. Show all posts
Showing posts with label investment canada act. Show all posts

Thursday, October 31, 2013

What U.S. Steel Shutdown Reveals About Harper



While all of us continue to be riveted by the ever-deepening pit into which the duplicitous Prime Minister is digging himself over the Duffy scandal, other events are equally revelatory of Stephen Harper's dark psyche. One of them is the announcement by U.S. Steel that it is permanently shuttering its steel-making capacity in Hamilton.

Briefly, in 2007 the Harper government permitted the takeover of the troubled Stelco by U.S. Steel on the promise of certain undertakings, including employment guarantees, which I talked about in previous posts.
Those guarantees were never honoured, and despite the fact that the government took the company to court and won, it essentially gave a free pass to U.S. Steel, which then made new and unfulfilled promises to keep the plant going until 2015 and make capital investments of $50 million by the end of that time.

The charade of co-operation is now at an end, and as Thomas Walkom writes in today's Star,


From the federal government came a deafening silence.

A spokesperson for James Moore, the current industry minister, said only that the government doesn’t involve itself in the day-to-day business decisions of private companies.

And with that kiss-off, a steel-making operation that has defined manufacturing in Canada for 103 years came to an end.


Why should this be of broader concern to Canadians? In my view, it exemplifies the total disregard that the Harper regime has for the social and economic costs involved in industry betrayal. By dismissing such events as merely the result of implacable market forces, we perhaps have a window into what the so-far still secrecy-bound details of CETA have in store for even more employees and Canadian citizens in the near-future.

Friday, May 25, 2012

Canada For Sale

At least that's all I can conclude given that the ineffectual Investment Canada Act is about to become completely impotent thanks to changes announced today; in a short time, the government will not even bother reviewing foreign investments in or purchases of Canadian companies worth less than $1 billion.

National borders? Economic sovereignty? Closures of branch plants? Completely irrelevant in the new Canada being formed by Harper Inc.