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the stupidity of taxing heavily, page-38

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zipperlip

29,616 Posts.

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23/07/24

21:08

Post #: 74881713
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Originally posted by Hingdog ↑

The BHP example is exactly why you don't want govt investing in these sectors that involve both risk and expertise. When it's private capital a LOT more care is taken and it still goes wrong often.

Imagine the Andrews govt investing in biotechs ....
- they started out by spending $1.2B to not build a road
- they spent nearly $1B on airport rail only to can it
- they spent $600m on the Commonwealth games only to can it
- the list goes on

Imagine how much they'd waste chasing the next wonder drugs, it makes me shudder just thinking about that!

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Since when has it been our governments job to invest in high risk technologies?
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