In today’s lexicon, government ‘investment’ means spending your money on someone else
Bombardier’s new, much-delayed CS300 aircraft made its first test flight in February, but some investment analysts are wondering if the longer, narrow-bodied jet has missed its moment. (Christinne Muschi/Reuters)
Governments simply don’t spend anymore, they “invest” on behalf of grateful taxpayers who put up the capital.
The political appeal of this semantic shift is obvious: “investing” has a virtuous ring; it implies prudent choices and a handsome return.
Put it this way, you might actually pay someone to invest your money, but do you really want anyone else spending it?
As for “bailout,” well, that term is about as politically acceptable nowadays as a racial slur. You bail out the weak and incompetent. You invest in winners.
So, this week, Bombardier is — once again — a “winner.”
- Bombardier looking for federal help after Quebec’s $1B bailout
- Don Pittis: Bombardier now launched into battle with aerospace giants
- Bombardier loses $4.9B US in 3rd quarter as Quebec steps up
“This will be a profitable transaction for everybody,” declared Quebec’s minister of the economy, Jacques Daoust, as he confirmed his government’s decision to “invest” $1 billion in the floundering airplane maker, which has been hemorrhaging money and missing delivery deadlines.
In addition, Daoust made it clear he expects “everybody” to include Canada’s new prime minister, Justin Trudeau, just as soon as he officially takes possession of the federal vault this week.
“I can assure you,” said Daoust, that upon learning the name of Trudeau’s new industry minister, “I’ll get his or her phone number and put in a call.”
Daoust is counselling a nice round “investment” figure for Ottawa, too. Say, another billion or so.
Trudeau hasn’t made any commitments, but Daoust’s message is pretty clear: You won with Quebec’s help, and it’s time to help Quebec.
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