Canada’s government will not provide financial aid to troubled automakers until they present a solid business plan, Industry Minister Tony Clement has said.
“On this side of the House, we want real, accountable, solid business plans before we spend taxpayers’ money,” Clement told the House of Commons when asked when the government would aid the struggling auto sector.
Go deeper with GlobalData
Chief executives from the top three Detroit automakers have requested emergency aid in Washington and Ottawa to fend off collapse of their businesses due to the economic downturn.
Canada hopes that any US bailout keeps the closely linked Canadian side of the automotive supply chain in mind.
