Nathan is at LessOnline (say hi👋) 🔎#1499
It’s pretty bleak that the Business Secretary’s justification for taking these company stakes is that it would give him an incentive to do the thing he’s already supposed to be doing.
Many users condemned the UK minister's defense of equity stakes in Wayve as cronyism that favors connected firms with public money while showing government incompetence.
@s8mb The Department for Business and Trade has to call Transport for London in order to lobby then to allow a private company to do something that is permitted by legislation
And he offers this up as a sign of the system WORKING??
@s8mb It's much worse than that. He'll be removing barriers *for the companies he's given taxpayers' money*. For the rest? Not so much. He might even be tempted to erect barriers, in the hope of benefiting the investee firms. Corporatism stifles competition and innovation
@s8mb It's pretty bleak that the answer to "make life easier for private companies" is "make private companies part of the state"
@s8mb He'll still get paid by the government regardless, so his skin in the game is zero.
@s8mb “Whitehall will have an incentive to remove barriers that stop companies achieving their goals.” So does that mean that if they don’t invest, say as now, they will actively frustrate companies? 🤷♂️
@s8mb Yeah I can finally sleep calm at night.
Government which can’t connect their own parking spaces to their roads. Roundabouts to nowhere. HS2 3 x more expensive. Hinkley stopped for fish disco! And list goes on and on
https://youtu.be/dISbY0YsLQM?si=NlYHOY9laoBqapPB
@s8mb @cjsnowdon They just need to get out of the way.
@s8mb @cjsnowdon When you begin to wonder whether leaving the single market was a good thing.
@s8mb He has his job because he was a gay pimp for Tony Blair. What do you expect?
Nathan is at LessOnline (say hi👋) 🔎#1499It’s pretty bleak that the Business Secretary’s justification for taking these company stakes is that it would give him an incentive to do the thing he’s already supposed to be doing.