delete Industrial Research and Development Incentives Regulations (Amendment)
An amendment to regulations providing tax incentives and subsidies for industrial research and development activities, defining qualifying expenditures, application processes, and compliance requirements for businesses seeking R&D benefits.
R&D incentives distort market signals by artificially redirecting private investment toward politically preferred technologies rather than consumer demand. They create complex compliance regimes that divert resources from actual innovation to paperwork, impose significant administrative costs on businesses of all sizes, and breed cronyism as firms lobby for expanded eligibility. The unseen cost is the superior discoveries never made because entrepreneurs chase subsidized research instead of genuine market opportunities. In a free society, capital naturally flows to productive research—no bureaucratic incentive program can replicate the efficiency of profit-driven discovery.