Canada’s telecom industry has been hit hard by the federal government’s decision to scrap the country’s three telecoms giants, BCE, Rogers and Telus.
But the federal Liberal government says it is not taking any action that would lead to the loss of jobs and growth.
“We are not cutting Canadian jobs, we are not reducing Canada’s competitive position.
We are not laying off Canadians,” Liberal finance critic and telecom critic Diane Finley said.
Finance Minister Charles Sousa says the Liberal government is keeping the current level of investment in the Canadian telecoms industry and is not changing anything.
The Liberal government has said that eliminating the three major Canadian telecom companies will save $4.2 billion by 2020-19.
The new Liberal government’s plans are based on an investment plan unveiled last month, which includes a $2 billion cut to the provincial telecoms regulator, and $1.2 million for the federal Communications Security Establishment (CSEC).
“The federal government is looking at the investment opportunities in the communications industry to ensure that Canadians have the information and the tools they need to compete in the digital economy,” Soussa said in a statement.
“We are investing in the telecommunications sector because we know that there is a lot of talent in this industry and a lot more to be done.”
In an interview with CBC News, Sousas said that while he supports the federal plan to cut the three companies, he wants to ensure the investment is in the right places.
He said the government is also looking at eliminating other tax credits and subsidies that help companies with telecom costs.
The plan also calls for eliminating the province’s subsidy for telecoms infrastructure.
“This is about getting the investment that we need,” Sosa said.
“The investment that the provinces and municipalities need is in telecoms and infrastructure.”
Fink said that the new government’s focus on infrastructure is not enough.
“They are going to be spending more money in their capital spending, more on infrastructure than they are actually investing in it,” he said.
“We have to be investing in infrastructure.
If they’re going to spend $100 billion in capital spending on infrastructure, we have to invest $300 billion in infrastructure.”