Government bailouts issued to Canadian corporations from 1994 to 2007 have cost $202 billion, or $15,126-per taxpayer, according to a recent report from the B.C.-based Fraser Institute.
In its report, Corporate Welfare Breaks the $200 Billion Mark: An Update on 13 Years of Business Subsidies in Canada, the economic think tank says the country's federal, provincial and municipal governments spent $19.4 billion on corporate welfare in 2007. This figure is nearly double the 2005 total of $10.4 billion.
Provincial governments provided the largest sum, $110.3 billion, across the 13 years. The federal government spent $66 billion, with municipal governments spending $25.8 billion.
Ontario provided the second-highest amount of money to corporations in 2007, doling out $2.1 billion, second only to Quebec's $6 billion.
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