PM Trudeau Defends Bombardier's Corporate Welfare & Continuous Failure
Canadian Prime Minister Justin Trudeau on Thursday defended his government's support for planemaker Bombardier Inc (BBDb.TO 2.20%) in the wake of a trade challenge by rival Boeing Co (BA.N 0.56%), saying the aid was important.
Trudeau, speaking at a televised news conference after a Montreal meeting with Irish Prime Minister Enda Kenny, said he would always defend Canadian competitiveness around the world.
Bombardier has needed constant taxpayer support since 1966 and it has continuously failed to deliver or repay loans in full. The company is largely seen as the face of corporate welfare in Canada.
More to come.