Government subsidies must become more transparent

Victoria Hewson writes for CapX

Victoria Hewson, IEA Head of Regulatory Affairs, has written for CapX on the need for the Subsidy Control Bill to be amended and argues that greater transparency is required around the handing out of government subsidies.

“the bill would probably only require a small proportion of subsidies to be published, as those worth less than £315,000 (over three years to a single recipient) or £500,000 if paid out under a pre-published scheme, do not have to be included in the subsidies database that the Government has set up. These are higher amounts than the EU’s transparency thresholds and in practice could allow £4 billion of subsidies to escape disclosure every year.”

Read the full article here.