8th May 2002

If the financial state of TVNZ had not deteriorated so badly under Marian Hobbs today's monetary band-aid would not be needed, says National's broadcasting spokesperson Katherine Rich.

"$12 million is chicken feed compared to the real cost of implementing TVNZ's Charter, estimated last year at around $100 million. This extra money will barely be enough for a couple of drama series and a few documentaries.

"This band-aid is insignificant when compared to the huge drop in value and earning capacity of TVNZ over recent years. What was once one of our most valuable assets, worth $975 million in 1998, was valued at just $565 million last year.

"The announcement today shows that the list of charter platitudes is not worth the paper it's written on. Loopy requirements like promoting "ethical development" will do nothing to attract revenue for TVNZ, or make it self sufficient so that greater amounts of local content can be funded.

"If Marian Hobbs wants to take credit for today's small injection, she must also take responsibility for the massive damage done to TVNZ already," said Ms Rich.

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