Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 


Government Picking Losers With Taxpayer Funded R&D Grants

Government Picking Losers With Taxpayer Funded R&D Grants


16 JANUARY 2014
FOR IMMEDIATE RELEASE

The Taxpayers’ Union is slamming ‘research and development’ grants announced yesterday by Science and Innovation Minister Steven Joyce costing taxpayers $140million over three years.

One the of recipients of the grants is high profile technology firm Rakon, which share price has been in free-fall since 2007 and today announced it is closing its UK plant.

“The government shouldn’t be trying to pick winners with taxpayer cash,” says Executive Director, Jordan Williams. “In the case of Rakon, why is the government throwing money at a firm thats share price has been tumbling for years?”

In 2007 Rakon’s share price reached $5.70. Today it is trading at less than 4 per cent of that, at around 19cents. In addition, the Shareholders Association and others have criticised the governance of the company.

“If the government is going to give out taxpayer money, at least give it to companies that are succeeding, not failing.”

“This is a grant to a company that is shrinking rather than growing New Zealand exports. It stinks of corporate welfare,” concludes Mr Williams.

More information is available at www.taxpayers.org.nz.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell:
On First Time Voting (Centre Right)

For the next two days, I’m turning my column over to two guest columnists who are first time voters. I’ve asked them to explain why they were voting, for whom and what role they thought their parental upbringing had played in shaping their political beliefs ; and at the end, to choose a piece of music.

One guest columnist will be from the centre right, one from the centre left. Today’s column is from the centre right – by James Penn:

As someone who likes to consider himself, in admittedly vainglorious fashion, a considered and rational actor, the act of voting for the first time is a somewhat confusing one. I know that my vote has a close to zero chance of actually influencing the outcome of Parliament. The chance I will cast the marginal vote that adds to National or Act’s number of seats in Parliament is miniscule. The chance, even if I did, that doing so would affect the government makes voting on a strictly practical level even more spurious as a worthwhile exercise.

But somehow I have spent a large amount of time (perhaps detrimentally so, depending on the outcome of my upcoming exams) agonising over how to cast my first vote in a national election. More>>

 

Parliament Today:

SURVEILLANCE:

Election Ad Soundtrack: Rapper Eminem Sues National Party Over Copyright Breach

US rapper Eminem is suing the New Zealand National Party for alleged copyright infringement over unauthorised use of the rapper’s ‘Lose Yourself’ song in an election campaign advertisement. More>>

ALSO:

Pre-Election Chartering: Four New Partnership Schools To Open

Education Minister Hekia Parata today announced the Government has signed contracts to open four new Partnership Schools in 2015. More>>

ALSO:

Werewolf 50 Out Now - The Election Issue: Loss Leaders

Gordon Campbell: A third term requires a mature decision, with eyes wide open. It calls for a conscious vote of confidence… Without trying hard here are about 19 reasons, in no particular order, for not ticking ‘party vote’ National. More>>

ALSO:

Not-Especially New Plans: All Prisons To Become Working Prisons Under National

All public prisons in New Zealand will become full working prisons by 2017, and ex-prisoners will receive post-release drug addiction treatment if National is returned to government, says Corrections Spokesperson Anne Tolley. More>>

ALSO:

Māngere: "False Claim Of Matai Title" - Labour

National must explain why its candidate for Māngere Misa Fia Turner appears to be using a Matai title she is not entitled to, Labour’s MP for Māngere and Pacific Islands Affairs spokesperson Su’a William Sio says. A Matai title is a legally-recognised ... More>>

ALSO:

CPAG Report: No New Zealand Child Should Grow Up In Poverty

Child Poverty Action Group's flagship policy publication Our Children, Our Choice: Priorities for Policy calls for cross party political agreement to underpin an action plan to eliminate child poverty in New Zealand. More>>

ALSO:

Gordon Campbell:
On National’s Phantom Tax Cut Package

Hmmm. So National’s tax cuts package turns out to be one of those television advertisements that screams a headline promise – perfect skin! a youth tonic that works! – while in very small print there’s an out clause: special conditions may apply. More>>

ALSO:

Water: New Marine Reserves On West Coast Opened

Five new marine reserves were officially opened by Conservation Minister Dr Nick Smith on the West Coast of the South Island to protect a range of marine ecosystems for conservation, science and recreation. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news