Terence Corcoran: Who most deserves the award for economic ignoramus — Trudeau or Eby?

financialpost.com:

In response to BCE’s investment cutbacks and layoffs designed to help the corporation remain profitable and continue to pay dividends to shareholders and pensioners in a competitive market environment, two of Canada’s political leaders hacked their way through demagogic rants against corporations, BCE in particular, and the foundations of the nation’s economic system.

It’s a toss-up as to which of the two — Liberal Prime Minister Justin Trudeau or British Columbia’s NDP Premier David Eby — deserves top billing as the economic and political ignoramus of the month.

After BCE reiterated its decision to cut capital spending by $1 billion (half directly related to CRTC regulation that would force Bell to resell access to its network at cheap prices to competitors) — and announced its plan to eliminate 4,800 jobs, including cuts in Bell Media television and radio operations — the doyens of Canadian economic and business ignorance entered the arena, starting with Trudeau, who was asked at a news conference to react to the BCE announcement.

“I’m furious,” he said. “This was a garbage decision by a corporation that should know better. We’ve seen over the past years, journalism outlets — radio stations, small community newspapers — bought up by corporate entities who then lay off journalists, change the quality of offerings to people, and then when people don’t watch as much or engage as much, the corporate entity says, ‘oh see, they’re not profitable anymore. We’re gonna sell them off.’ ”

Trudeau’s rant continued: “Over the past years, corporate Canada — and there are many culprits in this — have abdicated their responsibility toward the communities that they have always made very good profits off of in various ways … We will be