Subhead:Even with the warning, the Liberals still went ahead with a loan doling out hundreds of millions to the company.#
The federal government has admitted it knew Algoma Steel was planning layoffs in Sault Ste. Marie months before approving a $400 million taxpayer-backed loan, according to a new parliamentary disclosure.
The admission came in response to an order paper question from Conservative MP Jim Bélanger (Sudbury East—Manitoulin—Nickel Belt), answered January 26.
Finance Canada confirmed that Algoma first told the federal government in June 2025 that layoffs were a possible part of its business plan as it transitioned to a “sustainable long-term” model.
Despite that warning, Ottawa moved ahead with massive financial support.
