• About
  • Join/Donate
  • Contact
Friday, June 2, 2023
  • Login
No Result
View All Result
The Brief
NB MEDIA CO-OP
Share a story
  • Articles en français
  • New Brunswick
  • Canada
  • World
  • Environment
  • Indigenous
  • Labour
  • Gender
  • Politics
  • Culture
  • Videos
  • NB debrief
  • Articles en français
  • New Brunswick
  • Canada
  • World
  • Environment
  • Indigenous
  • Labour
  • Gender
  • Politics
  • Culture
  • Videos
  • NB debrief
No Result
View All Result
NB MEDIA CO-OP
No Result
View All Result
Home *Opinion*

Don’t let Pfizer exploit the pandemic to get tax breaks

by Canadians for Tax Fairness
January 27, 2021
Reading Time: 2min read
Don’t let Pfizer exploit the pandemic to get tax breaks

Pharmaceutical giant Pfizer, supplier of the Pfizer-BioNTech COVID-19 vaccine, is pushing the federal government for a wide range of tax breaks and concessions in the upcoming federal budget. Pfizer is already highly profitable. Globally it made over US$48 billion in net profit over the last three years while paying very little in tax. In fact, it received a net tax refund of US$7 billion in the past three years.

Now it is pushing the Canadian government to:

  • reduce its corporate tax rates, extend tax breaks, and make tax credits refundable to multinationals
  • provide assurances that the Canada Revenue Agency won’t come after them for tax dodging through “transfer pricing”
  • back off on regulatory changes that would make drugs more affordable for Canadians

This aggressive push from Canada’s main vaccine supplier is especially disturbing in the middle of a pandemic when Pfizer holds the key to life or death for thousands of individual Canadians and businesses. It is even more disturbing when Pfizer has reduced vaccine shipments to Canada more than to other countries.

It is outrageous that Pfizer is making aggressive demands to reduce its taxes and maintain high prices for drugs in the middle of a pandemic while halting and reducing supply of their vaccine to Canada.

The effectiveness of the vaccines has been scientifically proven. The privatization of vaccine production is the problem.

Canada was a world-leader in vaccine production with the publicly owned Connaught Laboratories until it was sold off by the Conservatives in the 80s. Most new drugs are developed with public funding for research in the first place, while the profits are made by private producers who pay little tax.  We need to rebuild our public capacity to produce our own vaccine and medicine so we can’t be exploited by multinational corporations.

Canadians for Tax Fairness has an online letter campaign to tell Prime Justin Trudeau and Finance Minister Chrystia Freeland to stand up to Pfizer and big corporations, with a cc to your MP. Click here to send your letter.

This article was re-published with the permission of Canadians for Tax Fairness, an organization that advocates for fair and progressive tax policies aimed at building a strong and sustainable economy, reducing inequalities and funding quality public services.

Tags: Canadians for Tax Fairnessprivatizationvaccination
ShareTweetSend

Related Posts

As health ministers meet, NB Health Coalition wants privatization off the table
Health

COMMENTARY: On the road to health care privatization

May 6, 2023

The 2023-2024 budget for the New Brunswick Department of Health is $3.6 billion. This represents one-third of this year's provincial...

In this battle with CUPE, it’s Higgs’ government that has the credibility problem
Labour

STATEMENT: Medavie still fails to recognize Truth and Reconciliation Day, says CUPE

March 20, 2023

Today, CUPE Local 1252, the union representing over 9,000 healthcare workers in New Brunswick, is calling on the NB Government...

COMMENTARY: My Lord! Where is Medavie going with our health care system?
Health

COMMENTARY: My Lord! Where is Medavie going with our health care system?

March 8, 2023

This is a grim moment. Medavie Blue Cross is absorbing our health care system piece by piece. Its CEO, Bernard...

Emergency services in Sackville area in decline
Health

COMMENTARY: Premier’s statements on health care make no sense, says head of New Brunswick Union

February 27, 2023

Two recent articles involving health care in New Brunswick are cause for concern for our public system. The articles demonstrate...

Load More

Recommended

COMMENTARY: Persecuted but resilient: The enduring impacts of police violence for Indigenous New Brunswickers

COMMENTARY: Persecuted but resilient: The enduring impacts of police violence for Indigenous New Brunswickers

22 hours ago
COMMUNIQUÉ : Retour de bâton contre les personnes et les communautés 2ELGBTQQIA+

COMMUNIQUÉ : Retour de bâton contre les personnes et les communautés 2ELGBTQQIA+

7 days ago
COMMUNIQUÉ : Alter Acadie NB préoccupé par les décisions du ministre de l’Éducation sur la diversité sexuelle

STATEMENT: Backlash against 2SLGBTQIA+ people and communities in New Brunswick

7 days ago
COMMENTAIRE : La population Néo-Brunswickoise peine à manger

COMMENTAIRE : La population Néo-Brunswickoise peine à manger

4 days ago
NB Media Co-op

© 2019 NB Media Co-op. All rights reserved.

Navigate Site

  • About
  • Join/Donate
  • Contact
  • Share a Story
  • Calendar
  • Archives

Follow Us

No Result
View All Result
  • About
  • Join/Donate
  • Contact
  • Share a Story
  • COVID-19
  • Videos
  • New Brunswick
  • Canada
  • World
  • Arts & Culture
  • Environment
  • Indigenous
  • Labour
  • Politics
  • Rural

© 2019 NB Media Co-op. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In