corporate welfare

For once I agree with Sam Morgan, but he’s a bludging hypocrite himself

Sam Morgan has taken a swipe at the Government’s ongoing corporate welfare via the Callaghan Fund and sparked a stoush with Steven Joyce the minister responsible for handing out the welfare.

TradeMe founder Sam Morgan has called the Government’s research and development policy a “subsidy for private investors” during a cut-and-thrust social media exchange with Science and Innovation Minister Steven Joyce.

The Government yesterday announced its Callaghan Innovation had awarded a further $32 million over three years to 22 high tech companies under the Research and Development Growth Grants scheme.

The latest companies come from a wide range of industries from aviation to horticulture and include two companies that floated in the past year – online travel software company Serko and software company GeoOp.

News of the grants prompted Morgan, an entrepreneur who has been involved with a number of grant recipients in the past, to take to social networking site Twitter and say taxpayers were “giving free money to publicly listed tech companies to benefit wealthy tech investors”.

“Serko. Good company. Just raised lots of money on NZX. No constraint on raising more capital. Successful grant recipient. Unnecessary,” Morgan said.    Read more »

Bludging Socialist Whinges about Labour stopping Corporate Welfare

Everyone knows that Federated Farmers are a bunch of socialists who expect the rest of us to fund their businesses.

For some reason they think that farmers are morally superior and deserve a big hand out to let them make more money. Bruce Wills, the head bludger, has a big sook in the Herald about Labour.

Labour have said they will take the lazy half a billion dollars National have set aside in corporate welfare for farmers.

Winding up the Crown irrigation company not only flies in the face of regional economic development but regional climate adaptation. Are memories so short that we have forgotten adaptation was a key criticism of the Intergovernmental Panel on Climate Change?

Right. So climate change means the rest of us have to pay for bludgers who can’t manage their businesses properly?   Read more »

Abbott to slash $10bn off corporate welfare

The corporate bludgers in Australia are about to get a hair cut…a $10 billion hair cut…as Tony Abbott seeks to shave he corporate welfare budget.

CORPORATE welfare will be slashed in a bid to wean the nation off $10 billion in business aid, as the Abbott government fights off fears it will slap new taxes on ­families without forcing others to shoulder some of the budget ­burden.

Taking a knife to industry assistance, the government will send employers the same message it is sending welfare recipients about the need to curb reliance on benefits.

Joe Hockey told The Weekend Australian that his vow to end the “age of entitlement” meant asking business to give up some of the payments and services Canberra had been giving it for years.

The government approaches Tuesday’s budget in a political fight over a tax hike on petrol and a “deficit tax” that leaves Tony ­Abbott increasingly exposed to charges of breaching his election promises.

Bill Shorten said the plan to lift fuel excise was not only a breach of faith with voters but also a hit to ­ordinary families.

“We know two things about Tony Abbott’s petrol tax: it’s a broken promise, and it’s going to put more pressure on the cost of living of all Australians who have to fill up their car every week,” the Opposition Leader said. Read more »

Hooton on Labour’s version of crony capitalism

Corporate shill Matthew Hooton calls out David Cunliffe for his own version of crony capitalism.

The most disappointing aspect of John Key’s government is its tendency toward crony capitalism and corporate welfare.

Most passionately debated were the tax breaks and employment law changes for the movie industry after lobbying from Sir Peter Jackson andWarner Bros.

The SkyCity deal involved the government foregoing future revenues from casino relicensing to get a Convention Centre at no immediate cost.

The Tiwai Point aluminium smelter, with annual revenues of over $1 billion, was given a one-off handout of $30 million, an amount which cannot materially improve its viability.

The government tried to keep prices for broadband and landlines artificially high to subsidise Chorus.

These are the best-known examples but seldom does a week go by without Steven Joyce announcing a new handout to some chosen sector or firm.

I don’t subscribe to subsidies, but politicians love the pork.

In his first party conference speech as leader, Mr Cunliffe launched a fearsome assault on National for “tilt[ing] the playing field even further” towards its “mates.”

“[National]’s Hall of Shame,” Mr Cunliffe boomed, “involves those shabby deals with Warner Brothers, Sky City, Rio Tinto and Chorus.”

Quite accurately, Mr Cunliffe reported businesspeople telling him they wanted no part of it. “They want a level playing field that’s fair and transparent, not one set of rules for National’s mates and another for everyone else,” he said.

It was a superb issue for Labour because it unifies everyone from the anti-business far left to the New Zealand Initiative, the resurrected Business Roundtable.

Now Labour has gone and blown it.  Read more »

Bludging filmmaking ratbags

They are worse than bloody farmers. Look at all these calls for increased subsidies.

Hundreds of jobs are disappearing from the film industry as big foreign productions go elsewhere, with many saying a drawn-out government review of incentives is to blame.

“The reality is without (competitive) incentives people don’t come here and it’s a matter of time before businesses fold.”

After a two-year review, the Government last month opted not to increase the 15 per cent grant available for large-budget productions – an incentive used by several countries to entice foreign productions because of the economic benefits they generate.

Since setting its rebate in 2007, New Zealand has fallen behind rivals including Britain, Canada, Australia and South Africa – and they are now getting films that would otherwise have come here.  Read more »

Useless bludging car-making ratbags

Holden must be in line for the title of Australia’s biggest bludgers after threatening to close down their plant unless they received more corporate welfare.

The Rudd government is set to announce a new rescue package for Australia’s ailing automotive industry, aimed at boosting demand for locally made cars.

Worth an estimated $200 million, the package is being negotiated with manufacturers Ford, Holden and Toyota.

The move follows Labor’s controversial plan to change the fringe benefits tax on company cars, expected to raise $1.8 billion over four years.

A spokeswoman for Innovation Minister Kim Carr said the rescue package was aimed at luring more buyers for Australian-manufactured vehicles.

Tech Sector On The Bludge

Peter Dunne has announced the IRD systems need a $1.5 billion upgrade.  We all know this means $3 billion+ needs to be spent because the IRD has become a centralised collection agent and the taxation system has become too complex for the old IT systems.  So we are told.  We also know that like Novopay, everyone sitting in front of a computer seems to be an expert on how to fix it.

Fresh to react to  a plunge in his stocks, Rod Drury was quick on the bludge and Clare Curran, quick to suck up to anyone with the slightest knowledge of IT parroted her support in opposing Dunne’s plans.

As usual, Cactus Kate brings some good old common sense to the debate and asks why we need to spend the money in the first place when the focus should be on simplifying taxation and with it all the credits and welfare the IRD now has to manage.  A good start would be eliminating Welfare for Families and creating a tax free threshold for single and married people and those with children.  Other countries do it and their tax returns take 10 minutes to complete, why can’t New Zealand?

Screen Shot 2013-05-01 at 9.35.04 PM

Screen Shot 2013-05-01 at 9.33.21 PM

 

 

Michael Moore is a hypocritical bludging ratbag

Michael Moore is a corporate bludging hypocrite and windbag:

Filmmaker Michael Moore received $841,145 in tax incentives from the State of Michigan to make Capitalism: A Love Story, a documentary against corporate welfare, the New York Times reports.

They can stop bludging too

I hate subsidies and I fail to see why movie moguls, who make billions, need us to subsidise their movies. It is just corporate welfare and they need to stop bludging too. Bludgers are bludgers no matter what they look like:

The Government is under pressure to raise the 15 per cent subsidy it offers to lure foreign film and television companies, to compete with an Australian proposal raised by Hollywood heavyweights who dined with the Prime Minister this week.

John Key met the heads of Fox, Disney, Warner Bros, Universal, Sony and MGM studios at a dinner hosted by Avatar director James Cameron and his associate John Landau on Thursday with actor Cliff Curtis and Weta supremo Sir Richard Taylor.

The meal followed a day of meetings in Hollywood for Mr Key, including a visit to the set of TV show Body of Proof, where he was introduced to the cast, including former Desperate Housewives star Dana Delany.

Up for discussion at Thursday’s dinner at the Landau home were alleged internet pirate Kim Dotcom, the Trans-Pacific Partnership (TPP) and the 15 per cent subsidy NZ pays film companies to secure their business.

Taxpayers have spent more than $500 million in the past decade subsidising Hollywood productions, including Sir Peter Jackson’s Lord of the Rings. Subsidies for The Hobbit are expected to reach $60 million.

Tagged: