delete Textile, Clothing and Footwear Strategic Investment Program Amendment Regulations 2010 (No. 1)
Amends the Textile, Clothing and Footwear Strategic Investment Program to provide government subsidies and grants to selected businesses in these industries, with the stated aim of improving competitiveness, innovation, and capability.
This is industrial policy that distorts market signals, misallocates capital by picking winners, creates dependency on taxpayer funding, and disadvantages non-subsidized businesses. The government cannot determine which investments are truly strategic better than the market itself, and such programs inevitably reward political connections rather than economic merit.