The Mind Boggles

In today’s AFR, Aaron Patrick reports that the Turnbull ‘innovation agenda’ was a political failure, government concedes.

A political failure.  Really?  What about an economic failure?  How about a policy failure?  Perhaps a sprinkle of governance failure with a cherry on top?

When government policy is about increasing the cost of business inputs, you don’t get innovation.  You get business closing and business off shoring.

  • increasing cost of labour – let’s ratchet up with anti-productivity regulation and belligerent unions.
  • increasing cost of capital – let’s ratchet up with cost of capital with some additional bank taxes, financial sector “cost recovery” (ie taxes) and regulation.  Oh and rather high income and company taxes to boot.
  • increasing cost of energy – does this really need to be spelled out?
  • increasing cost of land.

Have any of these people actually dealt with a regulator or the tax office or local government?

Within his article though are some additional corkers:

The government’s independent adviser, Innovation and Science Australia, plans to complete an innovation plan in three weeks for Senator Sinodinos that will argue for more direct funding over tax breaks directed to high-potential projects, or areas of research, that can lead to profitable businesses.

and

The general feeling among speakers at the summit was that Australia isn’t fulfilling its potential for turning good ideas into successful businesses, and that a more entrepreneurial culture supported by government is needed.

More tax breaks paid for by current businesses and a more entrepreneurial culture supported by government!  Are you kidding me.  The only entrepreneurship coming out of government is designing new ways to spend money inefficiently and new ways to tax citizens.

What music should be played for the Australian Rent Seekers Conga Dance?

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35 Responses to The Mind Boggles

  1. zyconoclast

    What music should be played for the Australian Rent Seekers Conga Dance?

    A conga line of suckholes.

  2. Philippa Martyr

    So looking forward to Doomlord’s masterly defence of the Turnbull government on this one, as on so many other points, eg. freedom of speech, association, religion.

  3. Bruce of Newcastle

    Jobson Grothe refused to comment.

    Australia leading index still not well

    The six month annualised growth rate in the WestpacMelbourne Institute Leading Index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, slipped from –0.04% in July to –0.19% in August.

    How odd that with nearly the highest electricity prices in the world that the economy is going backwards.

  4. struth

    Janet Jackson’s What have you done for me lately?

  5. Cannibal

    Sinodinos picking winners.

    Boggle confirmed!

  6. Mark

    Utterly unfair. The Department of Entrepreneurial Culture should be established immediately. There is an almost infinite array of laizze-faire matters it can handle. There are so many liberating regulations to write. My goodness me, don’t you worry about that.

  7. H B Bear

    Sinodinos picking winners.
    Boggle confirmed!

    Bwahahahaa. Arfur’s last adventure in the private sector almost got him jailed. Back to the Senate where it is only taxpayer money that will be pissed up against the wall.

  8. anonandon

    It’s like they are mining us and then rubbing our faces in it. Sorry bout the mixed metaphors.

  9. H B Bear

    Let’s ask the Assistant Minister for Innovation how it is going.

    Wyatt? Wyatt? Anyone seen that kid around?

  10. Dr Faustus

    It has been a question of priorities, really.

    The main problem has been that Christopher Pyne has been distracted with ushering SSM into the Winner’s Circle – leaving him insufficient time to “unleash his inner revolutionary“.

  11. RobK

    “When government policy is about increasing the cost of business inputs, you don’t get innovation.
    This is near the nub of it. The real innovators that have the capacity to increase real productivity and prosperity do so out of both passion and reward. However, for the most part, they are adaptable and are easily swayed by unnecessary handouts and more so by stymying regulatory imposts. Viable innovation looks after itself if left alone. Government should govern in a minimalist, most cost effective way and so give people the means to be innovative, prosperous, compassionate and charitable.

  12. What do you expect when you have a Socialist prime minister, with the same morals and values as every Socialist leader throughout history.

  13. Rococo Liberal

    Governments are continually pressured by the media and the chatterati to ”do something”. The problem is that doing something is almost always what governments should resist. UAstralia isn’t one person or corporation.
    Country-wide measures are bunk. How can you tell whether entrepreneurship is up or down? And even if you could, such a measurement is like that old cheap cockney tailors’ patter: ”never mind the quality, feel the width.”
    We really need to throw away this notion of measuring the economy on a national scale. It’s all rubbish. We need to encourage the wonderful mess that is the market.

  14. Bradley Ashworth

    Yet another episode of Utopia played out for real…..if I was Working Dog I would sue for stealing their scripts….

  15. Roger

    The government’s independent adviser, Innovation and Science Australia, plans to complete an innovation plan in three weeks for Senator Sinodinos that will argue for more direct funding over tax breaks directed to high-potential projects, or areas of research, that can lead to profitable businesses.

    Good Lord.

    Its Hockey’s medical research fund on steroids.

  16. Just Interested

    The realignment of Australian politics can’t happen quick enough.

    PS: Still waiting for the IPA outrage (over a one page press release) about 18C on steroids being invoked to corral passions aroused by the postal survey.

  17. Jannie

    Asking the government to advise on innovative economic ideas is like asking the Vatican to advise on innovative sexual techniques.

  18. Asking the government to advise on innovative economic ideas is like asking the Vatican to advise on innovative sexual techniques.

    Given current controversies?

  19. Robber Baron

    So the government commissions a report about government policy. Hmmm. That’s like socialists saying socialism failed because there wasn’t enough socialism.

    So the report says: We need more innovation. We need more Tricontinentals. We need more picking losers. We need more cronies. We need to continue transferring wealth to friends of politicians under the guise of innovation.

    Why doesn’t the Turnbull Coalition just be honest with the public and confess it’s “alleged corruption?”

  20. Roger

    Given current controversies?

    My thought too, but I bit my tongue.

  21. A Lurker

    So looking forward to Doomlord’s masterly defence of the Turnbull government on this one, as on so many other points, eg. freedom of speech, association, religion.

    The silence is indeed deafening.

  22. Robber Baron

    A Lurker
    #2502930, posted on September 20, 2017 at 4:08 pm
    So looking forward to Doomlord’s masterly defence of the Turnbull government on this one, as on so many other points, eg. freedom of speech, association, religion.

    The silence is indeed deafening.

    Stop teasing Sinc. He works in an interesting environment. Sometimes silence is all you need as saying something might cause career problems.

    I worked in a Melbourne based university as a senior finance lecturer and discipline head and voiced my criticisms of the Rudd government’s money printing and the Gillard mining tax…needless to say that I no longer work there as memories are long in academia and contracts are shorter which need renewing from time to time. The sisterhood is strong in academia. Best you stop asking Sinc as you know many read this blog and like to tattle.

  23. Squirrel

    “The government’s independent adviser, Innovation and Science Australia, plans to complete an innovation plan in three weeks for Senator Sinodinos that will argue for more direct funding over tax breaks directed to high-potential projects, or areas of research, that can lead to profitable businesses.”

    It must be about time for (yet) another ABC expose, in which they explain that Straya’s bright ideas are going o/s because the gummint isn’t spending enough money to commercialise them here.

  24. A Lurker

    Stop teasing Sinc. He works in an interesting environment. Sometimes silence is all you need as saying something might cause career problems.

    Merely pointing out the fact that he was all over Abbott failing to honour his promise to amend/repeal S18C – yet there has been a cone of silence over Turnbull’s reduction of freedom of speech last week. I just find the double standard to be interesting given that Sinc. is a free-speech advocate.

  25. A Lurker

    Oh, and if Sinc, feels my posts are injurious to his career, then he can delete them, I won’t be miffed.

  26. OneWorldGovernment

    Malcom’s my mate.

    There is no such thing as the Liberal Party of Australia.

  27. Rob MW

    What music should be played for the Australian Rent Seekers Conga Dance?

    I think this one better describes Oz politicians attitudes to, well, pretty much everything.

    At least its a bit cheerier than the Titanic music or bugling the Last Post when the fat lady is about a minute from starting to sing.

  28. egg_

    The Department of Entrepreneurial Culture

    AKA The Aboriginal Industry.

  29. John Constantine

    Shutting down primary industry, then throwing the country’s wealth into a services Ponzi scheme.

    Having their filth-Rudd, filth-hawke, filth-keating and redfilth as living examples of massive entrepreneur wealth through services.

    Ponzi schemes and maaaaates helping maaaaates.

    What an economy, Comrades.

  30. Pyrmonter

    The “entrepreneurial culture” to which they refer involves the fleecing of creditors and a form of civil slavery (the inability to terminate contracts when management changes). Compulsion for creditors and suppliers who won’t get paid. Sounds rather like government, actually:

    https://www.claytonutz.com/knowledge/2017/may/safe-harbour-and-ipso-facto-insolvency-reforms-coming-soon

  31. duncanm

    Yet another episode of Utopia played out for real…..if I was Working Dog I would sue for stealing their scripts….

    Indeed.

    A couple of quotes comes immediately to mind.

    Govt: How can we help?
    IT Startup: Get out of our way
    Govt: No, I mean really. How can we help?
    IT Startup: Stay out of our way

  32. Rob MW

    Shutting down primary industry, then throwing the country’s wealth into a services Ponzi scheme.

    The latest Government installment* for livestock producers wishing to sell their livestock – click on the biosecurity and animal welfare links. (note: LPA is flouted as a ‘voluntary’ scheme/device with one exception; it is impossible to sell livestock in Australia without LPA accreditation.

    * Meat & Livestock Australia is a Agency of the Dept of Agriculture, Fisheries & dim-witted failed jackaroos with a deep seated hatred of farmers.

  33. John Constantine

    Meat and livestock Australia is occupied by vegan wymynsys Stalinist’s that vote yes to making the proles live on rations of processed algae sludge.

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