All entries for Wednesday 20 April 2005
April 20, 2005
In an earlier post entitled MG Rover's downfall, I asked why there was no government agency to bail out all firms with a marginal change of survival. In such cases, government assistance could ‘obviously’ save jobs and increase everyone’s well being according to some.
Dr Madsen Pirie of the Adam Smith Institute makes a similar point when talking about the recently announced closure of several Index stores nationwide.
Government, which leapt in with £150m of taxpayer money to help those who lost MG Rover jobs has not yet come forward with any cash for the Index employees. On a pro-rata basis the sum might be about £85.7m.
View his post here.
It’s opportunism on the part of politicians, pure and simple.