Proposed MB Supported Venture Capital Fund – What can we learn from the past

Feb 11 2018 – Kevin Yaworski – WiseUpWinnipeg

Can the Pallister lead PC majority Parliament and Government of Manitoba (GoM) be trusted with another Province supported venture capital investment fund?

The last one was the Crocus Fund supported by Selinger’s NDP majority government and it cost MB investors at least $150 Million plus more losses that affected taxpayers. It involved unpaid loans to Sam Katz’s Goldeyes and other politically connected businesses, ignored warnings from expert insiders, court actions plus inadequate investigation and consequences when the fund failed.

There is strong support for the Premier’s proven Business Development appointee Barb Gamey but there is not much good to say for some of the others involved.

Lets look at the trend of the Pallister lead PC majority Parliament and GoM. They have not only kept status quo with the NDP’s unfair and unlawful traffic, parking and bylaw enforcement revenue schemes they have taken deliberate steps to create and amend legislation and policies to allow them to get worse and make it harder for the accused to contest, stand up for charter and other legal rights, due process and get a fair trial.

These schemes involved / involve senior people at Winnipeg City Council, City of Winnipeg (CoW), WPS, ACS / Xerox / Conduent, G4S Tech, GoM, MPIC, APEGM, MB Justice, MB Prosecutions / the Crown, LSM, the MB Judiciary and others that have allowed or ignored the root issues that are affecting public safety, interest, the economy and society. These issues involve aggressive targeted enforcement of known, created and dangerous engineering deficiencies in proper and safe signage, intersection amber times, speed limits and more.

They have lied and mislead about MB Hydro Bipole 3, rapidly rising Hydro and other infrastructure debt and deficits, the real cost of all the bureaucracy at the Province; Crown Corps; Health Authorities, School Boards / Divisions etc…, the carbon tax, P3 contracts, their involvment in several serious allegations and much more

They are standing idle while incomplete, false and misleading info provided to MB PUB for Hydro, MPIC and other utility rate increase requests. They are not enforcing the Conditions if Authority for photo and Officer traffic enforcement. They have delayed or reneged on the promised PST reduction and other promises.

Yes they have taken concrete steps to reduce unsustainable spending, the $1 Billion annual deficit they inherited or were part of as the official opposition but they have not lead by example or called for wage freezes or cuts for themselves, CoW elected, Justices, police while they forcing these on the rest of the public service. They have also done little to nothing about the $23 Billion in net debt, risk of more credit downgrades plus unsustainable and rising interest payments.

To learn more about this proposed venture capital investment fund.

https://mailchi.mp/taxpayer/stop-the-manitoba-government-from-gambling-your-money

http://www.cbc.ca/beta/news/canada/manitoba/crocus-fund-ex-bureaucrat-speaks-out-for-1st-time-1.1173942

Manitoba Invites Recommendations to Increase Access to Venture Capital
http://news.gov.mb.ca/news/index.html?item=43091&posted=2018-02-08

To learn more, help be part of collective action against the CoW and Province of Manitoba and be part of the solutions visit.

http://www.wiseupwinnipeg.com
http://www.manitobaforward.ca

About Kevin Yaworski

I use my blog to write about things I find interesting or that I think are matter of public interest.
This entry was posted in Financial, justice, News and politics and tagged , , , , , , , , , , , , , . Bookmark the permalink.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s