20 Year Plan?

By: AlanK (Registered ) on 28-10-2007 12:33

I would prefer a 20 year plan managed by an independent panel. Fair enough to give some tax breaks to business to entice them to certain areas, but, these tax breaks should be of a limited duration only. Business, for too long, has wanted too much support from the tax payers, government, call it what you wish, to commence an enterprise from the initial stage, and then pocket ALL the profits. 
Look at what happened with GMH. The Australian Government provided the funding for the first 5 years, and when it became profitable, GMH gave back the original investment, and from then on, pocketed [sent to the parent company] the profits. 
What would GMH Aust have done if the enterprise had gone belly up? Not much! 
I am not against a fair reward for a fair investment, but I am against tax payers’ money shoring-up businesses that are badly managed. Today, in my opinion, far too much goes to support business that should be left to stand or fall on its own strengths or weaknesses. I have never seen any government agency step in to support a green grocer who does not buy the fruit or vegies that his customers want, and is left with a lot of waste. 
Over the years lots of Australian inventions have been produced overseas purely because NO Australian business or government or government department has cared to provide some development capital. One example is the ‘Gas Safety Valve’; remember it from ‘The Inventors’? That chap tried for years, and a West German company took it on, sells it here, and the rest of the world, for $50, and a few cents each item royalty is returned to him in Australia, which gives a minimum return to Australia. There must be scores of similar instances about which we know nought. 
 
Of the billions in Superannuation Fund investment portfolios, could not some be farmed out as venture capitol? Some of the returns could be phenomenal. 
 
I am indulging in some kite-flying here, but we do need to start thinking laterally. We have lost the plot over the past 20 years, and I feel that Australia, as a nation needs to have a different perspective, expectation, projection, assumption, presumption, and anticipation of what will be delivered in the future, NOT blindly following what some guru from overseas says is best for us.

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