Aussie Steel Giant Laughing At Labour, But The Joke Is On Taxpayers"Today's admission from NZ Steel that they could have upgraded to electric furnaces without Labour's corporate welfare is another example of why New Zealand needs to end its reliance on corporate welfare while the country is billions of dollars in debt," says ACT Leader David Seymour. "Whether it's steel production, concerts or mussel farms, when the Government starts picking winners in the economy, taxpayers always lose. "While this Government has gotten rid of much of Labour's corporate welfare, taxpayers still spend hundreds of millions of dollars each year on industry grants and economic development subsidies directed at specific companies. Government does not have a good record of picking winners. "If we want New Zealand to be the best little country in the world, we need a smaller, more efficient government that focuses every dollar on results."