INDEPENDENT NEWS

Corporate welfare alliance needs to be slaughtered

Published: Thu 24 Sep 2015 03:57 PM
Corporate welfare alliance needs to be slaughtered
24 SEPTEMBER 2015
The Taxpayers’ Union is slamming a $12 million "Primary Growth Partnership” corporate welfare grant awarded to Alliance Group for market research and product developmentaiming to turn lamb into a health food. Taxpayers’ Union Executive Director, Jordan Williams, says:
“The Primary Growth Partnerships were supposed to be about innovation. This is just a grant to one of the world’s largest processors of sheep meat for their day-to-day business costs. Product development and marketing isn’t innovation – it’s a hand out."
“If Alliance believed the $12 million investment was likely to result in the claimed $400 million return it wouldn’t be needing taxpayers' money or involving bureaucrats and politicians. Instead, the PGP scheme rewards fanciful business cases and figures picked from the sky."
“Under this Government the cost of taxpayer funded corporate welfare has ballooned. It's time for the likes of Alliance Group to get their heads out of the trough."
In June the Taxpayers’ Union released its latest report on corporate welfare: Any new kids at the trough? Corporate welfare in the 2015 Budget. The report shows that the annual cost of corporate welfare is equivalent to $752 per Kiwi household. If abolished the corporate tax rate could be reduced from 28% to 22.5%.
ENDS

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