Once again the Trudeau Liberal government is shown to be incompetent on the economy.
The latest economic failure by the Liberals is the so-called ‘supercluster program.’
At the cost of nearly $1 billion, the Liberals poured money into the program, expecting private economic partners to spend over $1 billion as well, and create 50,000 jobs.
Additionally, the program was supposed to increase Canada’s GDP by $50 billion.
As you’ve probably guessed by now, it isn’t working.
Instead, the Parliamentary Budget Officer says it can’t even be shown how many jobs the program has created, and that the spending isn’t happening.
And, as noted by the CP, the Council of Canadian Innovators says the program “has been ineffective”:
“This program has been ineffective in building national prosperity for all Canadians and has not lived up to the stated expectations of government or the drivers of Canada’s innovation economy, therefore requiring an important pivot in the time of COVID.”
According to the PBO, the program has created only 14 jobs for every one million in spending.
“What Giroux found in his report was that the government could only account for 2,594 jobs expected to be created from 24 of the 45 projects announced, roughly 14 jobs for every $1 million of combined federal and private funding.
Absent other information, Giroux’s team estimated the same job creation rate for the remaining programs, meaning there could be almost 4,000 jobs created as a result.”
Further, the Liberals were claiming that each dollar of spending would generate 25 times the economic activity, while most estimates say it would actually be between three and eight times.
Conservative Industry Critic James Cumming slammed the Liberals:
“The PBO report released today makes it clear that the Liberals’ supercluster program will not grow the economy or increase innovation in Canada. The Trudeau Liberals have actually spent more money on administrative costs than on job-creating projects. That is ridiculous.”
Yet again, the Liberals have spent a bunch of our taxpayer dollars without getting results.
Photo – YouTube