Joyce Incubates Whole New Method of Corporate Welfare

11 NOVEMBER 2014
FOR IMMEDIATE RELEASE

Responding to the announcement from Science & Innovation Minister, Steven Joyce, that Callahan Innovation's expanding business incubator network has granted its' first interest free grant, Taxpayers' Union Executive Director Jordan Williams says:

“First there were handouts, now the Government is expanding its menu of corporate welfare to picking winners with interest free loans.”

“This sort of corporate welfare was only necessary prior to the Ancient Greeks inventing banking. What Mr Joyce is saying to these favoured business is, ‘you take the profit, while the taxpayer takes the risk’. "

Last month the Taxpayers’ Union released a report on corporate welfare, Monopoly Money, that shows that the current government has spend annually between six and eight hundred dollars per household on corporate welfare.

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