Take a look at this big business policy cartel
18. Australia's most outrageous corporate and business grants
A subscriber writes:
Further to your item on Friday in response to Andrew Bolt's ravings about the 'wasteful' Australian Research Council Grants, would you consider starting a (famous Crikey) list of the most outrageous corporate and business grants and subsidies?
Beginning with the $40 million News Corp grant you mention, you could also include:
1) Your May 18, 2004 sealed-section, which reported: 'The wool industry is forecast to get $58 million from the taxpayer next year, the grain industry $131 million and the dairy industry $271 million. General rural assistance will soar from $513 million in 2003-04 to a record $675 million in 2004-05 although this falls away in the out years as the sugar bailout winds back.'
2) The Australian Trade Commission (Austrade) spent $309 million of taxpayers money in 2003-4 (and will spend a similar amount this year) on grants to subsidise the expenses of a tiny 4% of Australian businesses:
Austrade's Websites
3) Wineries get $100 million a year from the federal government:
NZ Minister says Australian wine rebate breaches economic agreement -
4) Corporations which do oil exploration get a 150 pc tax concession from the feds:
Budget cash to shore up oil reserves
And I'm sure other subscribers could suggest hundreds more...
By Via Lists posted 29 November 04
CRIKEY: Great idea. Send you suggestions to boss@crikey.com.au.
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