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Government Should Cut Corporate Welfare
Government Should Cut Corporate Welfare
ACT Communications and IT Spokesman Hilary Calvert today criticized the Government's decision to grant a further $50 million in 'Technology Development Grants' to high-tech businesses.
"These grants are nothing more than corporate welfare in which money is taken from taxpayers and awarded to whatever company the Government sees fit. It's an outrage," Ms Calvert said.
"Corporate welfare is an inefficient way to grow the economy, raising the costs to consumers while transforming business owners from entrepreneurs to lobbyists.
"Taxpayers suffer as they are forced to back a losing horse or worse, to hand over cash to a business that is stable, self-sufficient and that would have succeeded anyway.
"Business suffers as it creates an uneven playing field which sees some businesses get Government funds at the expense of others while also creating an unhealthy reliance on the Government for survival.
"Rather than waste taxpayers dollars on corporate welfare payments, National should instead focus on cutting regulation that restricts business growth," Ms Calvert said.
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