{
Nicolas G. Hayek

People

}

tate aid for steel industry risks taxpayer money and market distortion

Politicians are advocating for state-subsidized electricity for steelworks in Switzerland, despite the historical failures of industrial policy. Such interventions distort competition, burden taxpayers, and support wealthy owners, while the steel industry faces chronic overcapacity and declining relevance. Emphasizing structural change has made Swiss industry competitive, and abandoning this path for short-term job preservation is misguided.
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Swiss Franc Novelis Swiss Steel Holding AG CHE Martin Haefner Nicolas G. Hayek
Finance & Economy, News Article
21:44 19.11.2024
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