Canada’s prime minister said yesterday that he is considering providing monetary aid to the United States auto industry, which plays a large economic role in Canada. Prime Minister Stephen Harper said that he is looking at options to help out the auto sector, specifically General Motors, Ford and Chrysler .
All three automakers operate production facilities in Canada and employ numerous Canadians by way of dealers, suppliers and regional offices.
Harper said that he understands the massively detrimental effect on Canada’s economy that a failure in Detroit would produce, but he is opposed to a sector of the economy under government control or incapable of operating without government intervention.
“We are all aware of the deep problems of some of the major companies in the auto sector. We are also aware of some of the actions that are taking shape in the United States,” Harper told the Associated Press. “The government of Canada will examine all possibilities. We haven’t ruled anything out or anything in.”
Ontario Premier Dalton McGuinty, who presides over the region most engulfed in the auto industry, said that Canada can’t compete with already-committed U.S. bailout offer of $25 billion.
Canada has about half a million workers in fields directly related to the auto industry.
