BREAKING: Pfizer demands tax cuts as Canadas COVID response inches ahead

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Published on Wednesday, 20 January 2021 13:12

Written by editor

BREAKING: Pfizer demands tax cuts as Canada’s COVID response inches ahead r1 Global drug giant seems to be leveraging their role in the COVID-19 recovery to gain tax cuts from the federal government. ... Dear Friend,

Global drug giant Pfizer-BioNTech seems to be leveraging their role in the COVID-19 recovery to gain tax cuts from the federal government.

As the Globe and Mail has revealed, in the middle of this crushing global pandemic, Pfizer made an extraordinary pre budget submission to the Commons Finance committee, threatening to reduce or even move their Canadian operations out of the country if they didn’t receive favourable changes to their corporate tax rates. This tactic has been used by countless corporations to avoid contributing their fair share to the communities they operate in. Pfizer, an already profitable company, is expected to have windfall profits from COVID vaccine sales this year. As we plan our recovery from the COVID-19 crisis, we need to ensure that corporations pay their fair share. We are demanding a just recovery that prioritizes reducing inequality. Pfizer should focus on production and equitable distribution of the vaccine across the globe, not on pocketing deeper profits for itself. Tell the Federal government not to let Pfizer call the shots! As one of the only producers of COVID-19 vaccines in the world, Canada is waiting for Pfizer to supply millions of doses of desperately sought vaccines this year. In the midst of demanding tax breaks, Pfizer delayed the delivery of COVID-19 vaccines to Canada while they retool a production line. Pfizer should be focused on distributing the vaccine so that fewer people die from COVID-19, not lobbying for deeper profits.

Canada needs to stop selling out to the corporate drug lobby. For decades, these highly profitable multinational corporations have been forcing countries to compete against each other in a race to the bottom — demanding ever diminishing regulation and taxation under the threat of moving to more profitable jurisdictions.

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