Canada's PM is giving taxpayers money to Mastercard

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Finance Mentor
abhishek012

Canada’s PM Justin Trudeau is giving taxpayers money to Mastercard:

https://www.thestar.com/politics/political-opin...

It’s no wonder the Liberals are in some political hot water over their handing of $50 million to a Mastercard project.

So often when the federal government gives money to profitable companies, the Conservatives raise the alarm, pouncing with accusations of corporate welfare and helping their friends.

We heard it loud and clear when, before the last election, the Liberals gave $12 million to Loblaws to retrofit their fridges. We heard it again when they gave BlackBerry $40 million a year ago now to boost development of software for autonomous vehicles. We hear it increasingly around the $950 million spent on the “superclusters” strategy to foster a competitive buzz in some industries.

Now, Conservative MPs and the various candidates positioning themselves to lead the party, are crying foul over the federal move to partner with Mastercard to open a cyber security research centre in Vancouver.

https://cdn0.desidime.com/attachments/photos/700736/medium/7806608syTcqfv.jpg?1627019550

Read full story here - https://www.thestar.com/politics/political-opin...

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Tue., Feb. 4, 2020
Canada PM
Liberals
Election
Conservative MPs

thestar.com/politics/political-opinion/2020/02/04/justin-trudeau-is
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Interestingly.. after so many direct references, OP decided to post this in D&D instead of Political section because of his unconditional love* towards mastercard smile

Finance Mentor Finance Mentor
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Trending me chal raha tha twitter pe because recently RBI ban mastercard. smile

Deal Subedar Deal Subedar
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It isn’t something new for Canada 😅

  • Canada Pension Plan Investment Board (CPPIB) has invested US$115 million in Delhivery Pvt Ltd.
Deal Subedar Deal Subedar
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The Canadian government is contributing $49 million for the creation of the Intelligence and Cyber Centre. MasterCard is putting $510 million towards the project. The funding is coming from the government’s Strategic Innovation Fund.

The government said in a release last week it expects the project to “support 380 jobs and enable the creation of 100 new co-op positions.” The centre will work to create “technologies and standards” to ensure any internet-enabled device can be used without fear that personal or financial information could be stolen.

Of course this wasn’t Trudeau giving money to anyone, but rather the government buying into a certain project with funds earmarked for such spending. As usual, if the Conservatives or right wing can’t find a good reason to criticize the government, they will float a half-truth with Trudeau’s name attached knowing most of their supporters will not look deeper.

Please don’t cite twitter trends to propagate half truth. Twitter is a cess pool of left wing right wing propaganda. Any idiot get’s a blue tick and masquerades as an expert or journalist there with their bot followers.

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