The Taxpayers’ Union is slamming Labour’s proposed $50 million a year into the Elevate Venture Capital fund, warning taxpayers are bankrolling another round of corporate welfare.
Taxpayers’ Union spokeswoman, Ella Dickson, said:
“Labour’s answer to economic growth is to give bureaucrats more gambling money. We criticised National for putting another $100 million into Elevate, and Labour deserves the same scrutiny for playing roulette with taxpayers’ cash.”
“If Labour wants real growth, handouts have never been the answer. Instead, retain and expand Investment Boost, remove red tape, and let businesses decide how to invest their own money.”
Labour’s $50 million promise a gamble Kiwis can’t afford
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