On Thursday, the federal and Ontario governments announced that they will be doling out an estimated $5 billion in corporate welfare to Honda, so the auto giant can build an electric vehicle (EV) battery plant and manufacture EVs in Ontario.

This is the third such deal in Ontario, following similar corporate welfare handouts to Volkswagen ($13 billion) and Stellantis ($15 billion). Like the previous two deals, the Honda deal comes at a significant cost to taxpayers and will almost certainly fail to create widespread economic benefits for Ontarians.