Following General Motor’s appearance this morning in bankruptcy court and Barack Obama’s speech, in which he laid out his government’s restructuring plan for the automaker, Prime Minister Stephen Harper and Premier Dalton McGuinty announced that the Feds and Ontario would be contributing a total of $10.5 billion in exchange for a 11.7 per cent stake in the revamped GM. Though Harper described the move as “regrettable,” he said that not being part of the restructuring process was “too risky in the current fiscal climate.”
Canada to inject $10.5 billion in GM
Not being part of the restructuring, says Stephen Harper, is "too risky in the current fiscal climate."
FILED UNDER: Canada