MUN economist criticizes subsidies

On the day the Newfoundland & Labrador government is set to announce significant support for the Corner Brook newsprint mill, Memorial University economist Michael Wernerheim says the government is undermining its own forestry strategy by subsidizing industries of the past and not investing in new possible income for its wood stands. Wernerheim says the government has given Corner Brook Pulp and Paper about $42 million in direct financial assistance over the last four years. Wernerheim questions the use of public funds to keep a declining industry afloat. “I think it is a possibility — it’s a distinct possibility — that there is not room for even one pulp mill in this province,” Wernerheim said.

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