It has become hard to keep track of the corporate welfare troughs around the country into which companies dip their snouts. One challenge in some cases is to find out how much swill has been poured into them.
The Business Dictionary defines corporate welfare as government financial support for big business, usually in the form of bounties, subsidies, or tax breaks.
The Taxpayers Union, which monitors this form of wealth redistribution, a year ago released a report, ‘Socialism for the Rich’, by Jim Rose. This showed the annual cost of corporate welfare had become $1.6 billion – or $931 per New Zealand household.
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