Trudeau gov’t fall economic statement includes massive payouts to legacy media ahead of election
OTTAWA, Ontario (LifeSiteNews) — The federal government of Prime Minister Justin Trudeau’s fall economic statement includes massive payouts for mainstream media outlets ahead of and after the 2025 election.
On November 21, Finance Minister Chrystia Freeland delivered the Liberal Government’s Fall Economic Statement in the House of Commons, which includes legacy media subsidies which will cost taxpayers $129 million over the next five years.
“To ensure a strong and independent press can continue to thrive in Canada the Fall Economic Statement proposes to enhance the Canadian journalism labour tax credit,” the Department of Finance wrote.
Beginning in 2019, Parliament changed the Income Tax Act to give yearly rebates of 25 percent for each news employee in cabinet-approved media outlets earning up to $55,000 a year, to a maximum of $13,750.
However, the Canadian Heritage Department since admitted that the payouts are not sufficient to keep legacy media outlets running. The department recommended that rebates be doubled next year to a maximum $29,750 annually.
This suggestion was adopted by the Trudeau government in the Fall Economic Statement, which increased the rebates to 35 percent on newsroom salaries up to $85,000, totaling a maximum rebate of $29,750. The temporary tax credit is set to apply for the next four years.
While media subsidies were to set to expire March 31, 2024, they have now been expanded to 2029 past the next general election. The increased payouts are expected to cost taxpayer $129 million in the next five years and an additional $10 million for every subsequent year.
The Trudeau government’s decision has been roundly condemned by Canadians on social media, many of whom are pointing to it as Trudeau’s attempt to make up for the failure of Bill C-18.
Bill C-18, the Online News Act, was projected to increase legacy media revenue by forcing Big Tech companies to pay to publish Canadian content on their platforms.
However, instead of paying the fees, Meta, the parent company of Facebook and Instagram, blocked all access to news content in Canada, while Google has promised to do the same. As a result, Canadians have been blocked from viewing legacy media outlets’ social media platforms.
“This is just a massive bailout using public dollars for the government’s blunder on Bill C-18,” Canadian academic and law professor Michael Geist wrote on X, formerly known as Twitter. “News outlets could previously claim a max of $13,750 per employee. That now increases to $29,750 or by 116%.”
“Note that this is retroactive as it applies to expenditures from the start of the year,” he added. “It’s a $60M gift to the news sector, to off-set the lost revenues due to its own legislation. So the industry lobbied for Bill C-18 and then lobbied for a bailout.”
Similarly, Canadian politician and CEO of the Western Standard Derek Fildebrandt said, “Ottawa is turning journalism into little better than supply-managed dairy farming. It is quickly becoming impossible to run a media company of any scale without taking the damned bailout money.”
Additionally, Royal Canadian Air Force Veteran Rex Glacer pointed out that thanks to the payouts, “Legacy media is now nothing but employees of the Liberal Party of Canada whose job is to help Trudeau win the next election, congratulations on your pay raises!”
The renewed media bailouts come as trust in mainstream media is polling at an all-time low with Canadians.
According to recent study by Canada’s Public Health Agency’s (PHA), less than a third of Canadians displayed “high trust” of the federal government, with “large media organizations” as well as celebrities getting even lower scores.
Large mainstream media outlets and “journalists” working for them scored a “high trust” rating of only 18 percent. This was followed by only 12 percent of people saying they trusted “ordinary people,” with celebrities garnering only an eight percent “trust” rating.
-------------------------------------
Source
https://www.lifesitenews.com/news/trudeau-govt-fall-economic-statement-includes-massive-payouts-to-legacy-media-ahead-of-election/?utm_source=digest-canadian-2023-11-24&utm_medium=email
No comments:
Post a Comment