Friday, August 24, 2012

SNC Lavalin - Let's React to the Numbers


Federal government grants licence for new nuclear reactors for first time in three decades 

(And who looks like the prime bidder?)

Let's run the numbers...

  • The CANDU reactor division of AECL developed world leading technology, payed for and owned by you and me.
  • Harper sells CANDU to SNC-Lavalin (known for their world leading corruption ) for $15 million.
  • Harper pledges $75 million to SNC-Lavalin to complete development of the newest CANDU reactor. We're still paying for it, we just don't own it any more.
  • The new reactor contract at Darlington is estimated to be worth $20 Billion.


So, SNC Lavelin gets a nuclear energy company, built with public money, gets paid $60 million in public money to take it and is immediately the prime bidder on $20 billion contract, again paid for by public money. What's the gain for the people? I'm sure SNC-Lavalin with pay a pittance in corporate taxes at some point... maybe.

Is this the free market at work? Seem to me that this private company sure does benefit a lot from public money while the government pats itself on the back for it's fiscal management.

Do you want to complain about welfare moms? Run the numbers for me. How many welfare moms would have to have how many babies over how many years to suck this kind of cash out of the Canadian economy? 

I'm sure there are some more social programs, environmental programs, health programs and so forth that we can eliminate to help ensure SNC-Lavalin's continued profitability and to enshrine Stephen Harper as Canada's number one econo-MISSED. 

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