- Newly enacted declaration set to provide financial support to new businesses, yet critics voice concerns over potential for abuse.
Princess Celestia and Princess Luna have signed a new declaration known as the ‘SAFE Act’, proposed by noble Upper Crust. This legislation aims to stimulate job creation and strengthen the value of the Bit, according to a joint statement released by the princesses.
As per the released text from the initial proposal, the Royal Treasury has been instructed to prepare a form that, when completed and approved, will grant up to 10,000₿ to businesses established within the past 18 months. This measure is intended to incentivize growth and economic dynamism across Equestria.
However, despite the well-intentioned nature of the ‘SAFE’ Act, critics have voiced concerns over potential misuse of this system. Critics fear this could encourage the creation of ‘shell’ companies or entities established solely to access the grant money.
The Princesses, however, have stated that robust checks and balances will be put in place to prevent such abuses. These include rigorous eligibility criteria and auditing measures to ensure businesses applying for these grants are operating in good faith.
Despite the debate, the ‘SAFE’ Act is now law and expected to come into effect within the next two weeks. It remains to be seen how this will affect Equestria’s business landscape and whether it will successfully drive economic recovery as intended.
Read the full Declaration below:
Declaration by the Crown on 05-27-1009 WHEREAS the economy of Equestria requires steady growth and the promotion of new business ventures, and WHEREAS it is deemed necessary to provide financial support to newly established businesses for the purpose of job creation and to strengthen the value of our national currency, the Bit, NOW, THEREFORE, The Diarchy of Equestria, by and with the advice and consent of the Nobility, does hereby enact the following declaration: Title: This Declaration shall be known as the "Stable Available Funding for Entrepreneurs Act" or "SAFE Act." Purpose: The purpose of this Declaration is to stimulate economic growth by providing financial support to newly established businesses within the past 18 months. Grants: The Royal Treasury is hereby instructed to prepare a form that, when completed and approved, will grant up to 10,000₿ to businesses established within the specified timeframe. 3.1 Eligibility: To qualify for this grant, a business must have been established within the past 18 months from the date of this declaration and must be operating within the boundaries of Equestria. 3.2 Audit and Monitoring: The Royal Treasury will be responsible for setting up an effective audit system to ensure businesses applying for these grants are operating in good faith. Implementation: The SAFE Act shall take effect 14 days after this declaration has been signed and enacted by the Diarchy. Signed this day, the 27th of May, 1009, by Princess Celestia and Princess Luna, Co-Rulers of Equestria. Princess Celestia Princess Luna Let it be known that this Declaration is binding and supersedes any previous laws or regulations that may conflict with its provisions. It is hereby enacted by the full power and authority of the Diarchy.