My Charitable Donation Does NOT Include Paying out GM's Pension Mess
The Globe and Mail is reporting this morning that GM Canada and the CAW are looking to the government to pull out it's wallet again - to the tune of more than $4B to save the worker pension plan.
But here's the kicker. GM Canada employees never even paid into the plan.
So let's just slide the bill over to you, Ms. Taxpayer. Yes, you - theone without any defined benefit pension of your own, if you're likenearly 80 per cent of workers in the private sector in Canada. Yes,you, whose RRSP is down 20 or 30 or 40 per cent or more in the pastyear. Yes, you, who may struggle to put together the savings to pay fora retirement stipend that's anything like the $2,000 a month that anauto worker with long service can receive.
No chance in France.
It's one thing to get stuck with shoring up a bad business. It's quite another to also end up having the taxpayer pay for a private pension.
The government that approves this sort of nonsense is certainly going to enjoy a very short stint in Ottawa.