Ryan Bridge: A $60 million corporate welfare cheque for Golden Bay cement doesn…

Ryan Bridge: A $60 million corporate welfare cheque for Golden Bay cement doesn't fix the disease. <!--mynz:youtube-chapters--> {"v":1,"chapters":[{"timeSeconds":1,"label":"Golden Bay Cement Bailout","summary":"A $60 million corporate welfare cheque for Golden Bay Cement is being discussed, with the presenter questioning if it fixes the underlying issues."},{"timeSeconds":9,"label":"Government Funding for Industry","summary":"The government is providing a loan to Golden Bay Cement, which will be repaid over time. This is presented as free money for the company."},{"timeSeconds":24,"label":"Importance of Cement Production","summary":"Cement is highlighted as a crucial material for building the country. The video shows the production process and bagged cement."},{"timeSeconds":33,"label":"Broader Economic Impact","summary":"The discussion expands to include other industries like refined oil and tin, and food production, suggesting they also face challenges."},{"timeSeconds":37,"label":"Bailouts Create Demand","summary":"The presenter argues that when bailouts are given, it encourages other companies to seek similar assistance, creating a cycle."},{"timeSeconds":42,"label":"Golden Bay Cement's Status","summary":"Golden Bay Cement is described as a conglomerate listed on both NZX and ASX, with results due next month."},{"timeSeconds":58,"label":"Company's Profitability","summary":"Despite facing challenges, Golden Bay Cement has turned a significant profit, indicating it is not currently in financial distress."},{"timeSeconds":102,"label":"Government's Reasoning for Bailout","summary":"The government's decision to bail out Golden Bay Cement is questioned, with the presenter suggesting it's due to the ETS and not the company's poor performance."}]} <!--/mynz:youtube-chapters-->