Corporate Welfare: Ontario Doling Out Money to Lord of the Rings (October 10, 2005)
Example of a standard routine practice by governments.
www.nytimes.com, Oct 11 ’05
Ontario Joins Investors in a Musical of the ‘Rings’(original: http://www.nytimes.com/2005/10/11/theater/newsandfeatures/11ring.html)
… in an act of unprecedented governmental showmanship, Ontario’s officials – on behalf of their 12 million citizens – have signed on as investors for the show, which is expected to be one of the most expensive ever. Taking on a role traditionally played by impresarios, idealists and other theatrical gamblers, the provincial government will contribute some $2.5 million of the show’s $23 million budget, betting that the production’s global appeal will justify a unique, and risky, public-private partnership.
CP, www3.cjad.com, Oct 11 ’05
Ontario government defends $3M loan to bring Lord of the Rings to Toronto (http://www3.cjad.com/content/cp_article.asp? id=/global_feeds/CanadianPress/EntertainmentNews/e101159A.htm)
A near $3-million Ontario government loan to bring a stage version of The Lord of the Rings to Toronto will more than pay for itself, the province’s tourism minister said Tuesday amid criticism that taxpayer’s dollars were being misused…
Canadian Taxpayers Federation, Oct 11 ’05
Dalton McGuinty: Lord of the Squanderers; Taxpayers foot the bill for Broadway production
“This is just the latest in a long line of corporate subsidies from Queen’s Park,” said Kheiriddin. “Over the past two years, the provincial government has given hundreds of millions of dollars in subsidies to car manufacturers, ethanol producers, and steelmakers….”