delete Rural Industries Research and Development Corporation Amendment Regulations 2001 (No. 1)
Amends regulations governing the Rural Industries Research and Development Corporation (RIRDC), a government-funded body that collects levies from primary producers and allocates taxpayer-matched funds to research projects in rural industries.
Government-directed R&D distorts market signals, misallocates capital through political rather than economic priorities, and creates dependency on taxpayer funding that crowds out private investment. The unseen costs include the opportunity cost of seized capital that would otherwise flow to genuinely market-driven innovation, plus bureaucratic overhead adding no productive value.