Wednesday, 12 March 2008

Innovation fund isn't

A few readers have asked me to comment on the Government's $700 million 'Innovation Fund,'  which its backers say will provide 

A massive funding boost to New Zealand's food industry [which] aims to help sell more of the country's produce overseas.

"Surely even a libertarian can agree with getting our scientists to help our exports" said one of my correspondents. Well no, I don't, not when it's my money - and especially not when it's poured down a hole that commercial backers have so obviously already spurned.

And fortunately, I don't need to write much more than that myself, since Paul Walker has already said all I would want to say, and much more succinctly than I normally manage.

3 comments:

  1. I think any Libertarian most certainly would not support this proposal!

    It is just the bad old days of subsidies back to haunt us.

    The Labour Government has hung out its "OPEN FOR BUSINESS" sign and away they go giving handouts and subsidies to anyone who can use big words and rinky-dink catchphrases.

    We may as well just give $500,000 to 1400 businessmen....save them the trouble of having to invent things which inevitably fail.

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  2. "We may as well just give $500,000 to 1400 businessmen....save them the trouble of having to invent things which inevitably fail."

    Um, hasn't the 'Fed' just done that?

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  3. Yes, an equally appalling travesty, hence my view we should not start doing it in NZ.

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