$620M for Quebec manufacturers hit by loonie rise

$620M for Quebec manufacturers hit by loonie rise

If you’re too lazy to read, the Liberal government is issuing tax cuts and other beneficial adjustments to help struggling Quebec manufacturers whose business has been negatively affected by the rising value of the Canadian dollar. Real cute.

While all of us consumers are enjoying the strong dollar (at least in theory, because importers are mostly pocketing the exchange), these factories are suffering. Why are they suffering ? Maybe because they rely too much on exports; if their income were coming primarily from within Canada, they would be somewhat indifferent to the exchange rate. A smart business would adjust to the changing economic climate, taking measures to use the strong dollar to their advantage. Considering how quickly this has happened, I can understand a reasonable amount of lag, but I’m not particularly impressed by this governmental ass-kissing. Businesses come and go, and every time the government gets involved to artificially protect something, someone else has to foot the bill.

I say let the businesses suffer, because if and when they fail, lessons will be learned and a newcomer will rise where its predecessor fell.

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