Newfoundland set up a fund to attract new business to the province. Earlier this year it was revealed that 98.5% of this fund went unused. Companies did not come here to do business despite this bribe. Despite this, I'm sure there were many people hired in the "business department" to attract new business.
Just more government spending gone down the drain as usual. You see, the government should not be "investing in anything.". If someone in the province wants to make money, let them invest their own money. It should be a free choice, not money stolen from me to invest in some rinky dink company from around the bay.
Besides the theft, how does the government even know how to invest the money? Where do they get the handful of "experts" who will know which businesses to invest in? Two things can be said about this:
1) Gov. officials probably don't know much about business investment. If they did, they would not work for the government.
2) Any money that is invested is probably not done so on the basis of profitability, but rather done on the basis of some vague notion of regional development. Maybe an MHA wants to bolster his reputation in a particular area so he will invest there. Or maybe some industry is highly visible to the public and will make the gov. look good. These are the most likely reason politicians invest.
The bottom line is, I don't want a bunch of bureaucrats who can't make it in the real world to invest my hard-earned money in order to get more votes.
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