Megan Woods breaks word – gives into Callaghan self-interest.

The Taxpayers’ Union is fuming that Minister for Research, Science and Innovation Megan Woods has broken her word and capitulated to Callaghan Innovation’s pressure to keep its precious corporate welfare grant schemes, rather than phasing them out in favour of the new R&D tax credit.

Taxpayers' Union Executive Director Jordan Williams says, “When Minister Woods announced Labour’s R&D tax credit scheme earlier in the year, she said it would replace the growth grant scheme administered by Callaghan Innovation. But buried in the Budget appropriations we see that Callaghan Innovation’s funding for corporate welfare hasn’t been cut by a cent. Not even one.”

“Megan Woods has let down taxpayers, and we will be working day and night to redouble our efforts to defeat this corporate welfare industry that picks winners and favourites, and keeps Callaghan Innovation’s feather-nesters in their taxpayer funded make-work scheme.”