ONE BILLION DOLLARS OFFERED TO THE AUTO INDUSTRY BY THE FEDERAL CONSERVATIVES

Oct 06, 2015

By Jane Brown

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The Conservatives are committing to provide the auto industry with more than one-billion dollars over the next decade to help it cope with the elimination of tariffs as a result of the Trans-Pacific Partnership.

The aid program for developing products would take effect in 2017-18, when an existing subsidy program ends.

The Conservatives say they would start to include the infrastructure, land and buildings needed for assembly plants under the current subsidy program.

Conservative Leader, Prime Minister Stephen Harper says his government would also offer non-repayable grants to companies that make firm commitments to build new auto assembly plants.

Under the TPP, a 6.1-per-cent levy on auto imports will be phased out over five years if it is ratified.

Cars would be allowed into Canada without tariffs as long as they have 45 per cent content from the TPP, lower than the 62.5 per cent threshold under NAFTA.

We’ll have more on how the Trans-Pacific partnership is affecting voter intentions for the upcoming election on Zoomer Radio’s Goldhawk Fights Back right after the 11am news. Pollster Nik Nanos will be Dale’s first guest.

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