07 February 2007

Global Subsidies Initiative

I’ve added a link to the Global Subsidies Initiative in the blogroll (right-hand sidebar). As New Zealand taxpayer, I’m pleased that core funding for the GSI is provided by the Government of New Zealand – as well as the Swedish and Dutch Governments.

“In December 2005 the GSI was launched to put a spotlight on subsidies—transfers of public money to private interests—and how they undermine efforts to put the world economy on a path toward sustainable development. Subsidies are powerful instruments. They can play a legitimate role in securing public goods that would otherwise remain beyond reach. But they can also be easily subverted. The interests of lobbyists and the electoral ambitions of office-holders can hijack public policy. Therefore, the GSI starts from the premise that full transparency and public accountability for the stated aims of public expenditure must be the cornerstones of any subsidy program. But the case for scrutiny goes further.” Read on…

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