CBC. The Canadian Federal government and Ontario will offer proportional funds to Canada’s auto industry if a proposed $14-billion US aid package somehow comes through for the automakers in Washington. The support would also be contingent on GM, Ford and Chrysler working together with parts suppliers and unions for a long-term solution for their industry.
Speaking to reporters in Toronto, [Industry Minister Tony] Clement said the proposed aid to Canada’s ailing auto sector would amount to approximately 20 per cent of the US proposal, or about $3.3 billion Cdn. The US bailout appeared to have died late Thursday night after hours of heated negotiations between lawmakers, representatives from automakers and unions. But lawmakers said they still hope an agreement on the Democratic- and White House-backed plan could be reached.
The Canadian subsidiaries of the Detroit Big Three automakers had asked Ottawa and Ontario for financial aid that could total as much as $6 billion.