Statement on Closure of Electro-Motive Plant in London
You have likely heard that US construction conglomerate Caterpillar Inc. is closing the Electro-Motive Canada (EMC) plant in London, Ontario. The announcement was made this morning.
You will recall that this is the facility where 465 workers were locked out January 1st, after refusing to have their wages and benefits cut in half.
You may not know that the closure comes on the heels of a mighty lucrative year for Caterpillar Inc. This company is raking in billions of dollars in profits – $4.9 billion, to be exact. This is the highest level of profit the company has ever had.
Make no mistake about it – at the heart of the decision to close EMC is pure greed, the level of which is breathtaking. But more disturbing is how often this story is repeated in Canada. Despite the economic and personal hardship affecting communities right across the country, the Harper Conservatives simply refuse to take action.
Well, to be fair, Stephen Harper does take a lot of action. Just not for workers and families who need it. Instead he has been giving Caterpillar a tax break every single year he has been in office.
What do the rest of us get? Massive job loss.
We can do better.
We CAN target investments and tax breaks to companies that actually want to create good quality jobs and support our communities.
We CAN fix the Investment Canada Act to ensure corporate takeovers like Caterpillar’s result in net benefit to Canada over the long-term.
Today, we have been shown a perfect example of just how poorly the Harper Conservatives are treating our communities and mismanaging our economy.
Join me in the fight against precisely this kind of greed. If you share my vision of building a strong economy while protecting the environment and supporting all Canadians with smart social policy, I need your support.
Together, we can ensure no more communities bear the brunt of corporate greed like our friends in London are now forced to do.
Canadians deserve no less.