Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search


Corporate Welfare Comes First?!

Corporate Welfare Comes First?!

Thursday, October 4 2001 Rodney Hide Press Releases -- Economy

ACT Finance Spokesman MP Rodney Hide said today that the government's policy of corporate welfare for Air New Zealand dwarves the extra spending in the 2001 Budget.

"The 2001 Budget trumpeted total extra spending of $532 million. The bail-out of Air New Zealand is to cost taxpayers 1.6 times that amount.

"The directors of Air New Zealand in a stroke have gone from being some of New Zealand's biggest businessmen to being our biggest welfare beneficiaries.

The table below compares the cost of the bailout with the key spending initiatives trumpeted in this year's budget.

Expense Initiative


Air NZ Bailout


$246 million

3.6 times!


$76 million

11.6 times!


$45 million

19.7 times!


$87 million

10.2 times!


$33 million

26.8 times!

Maori empowerment

$3 million

295.0 times!

"The government's policy of corporate welfare, business naivety and dithering has blown the government's budget and starved the very areas Labour and the Alliance promised to fund.

"The government would have been better-off to help every business. $885 million would fund a five cent cut in the company rate of tax for every business in the country for a year," Mr Hide said.


For more information visit ACT online at http://www.act.org.nz or contact the ACT Parliamentary Office at act@parliament.govt.nz.

© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines


Ruataniwha: DOC, Hawke's Bay Council Developer Take Supreme Court Appeal

The Department of Conservation and Hawke's Bay Regional Investment Company (HBRIC) are appealing to the Supreme Court over a conservation land swap which the Court of Appeal halted. More>>


With NZ's Marama Davidson: Women’s Flotilla Leaves Sicily – Heading For Gaza

Women representing 13 countries spanning five continents began their journey yesterday on Zaytouna-Oliva to the shores of Gaza, which has been under blockade since 2007. On board are a Nobel Peace Laureate, three parliamentarians, a decorated US diplomat, journalists, an Olympic athlete, and a physician. A list of the women with their background can be found here. More>>

Gordon Campbell: On The Key Style Of Crisis Management

At Monday’s post Cabinet press conference Key was in his finest wide- eyed “Problem? What problem?” mode. No, there wasn’t really a problem that top MPI officials had been at odds with each other over the meaning of the fisheries policy and how that policy should be pursued... More>>


Mt Roskill: Greens Will Not Stand In Likely Post-Goff By-Election

“The Green Party’s priority is changing the Government in 2017, and as part of that we’ve decided that we won’t stand a candidate in the probable Mt Roskill by-election... This decision shows the Memorandum of Understanding between Labour and the Green Party is working." More>>


Wellington: Predator Free Capital Plan

Wellington City Council (WCC), the Greater Wellington Regional Council (GWRC) and NEXT Foundation, today announced a joint collaboration to make Wellington the first Predator Free capital city in the world. More>>


Gordon Campbell: On Judith Collins’ Efforts At Self Correction

Thousands of prisoners currently in prison may be entitled to an earlier release than expected – and compensation – because Corrections has incorrectly calculated their term of imprisonment. Unless of course, the government buries its mistakes by changing the law and retro-actively getting itself off the hook… More>>


More Justice & Corrections

Sector Opposes Bill: Local Government Bill Timeframe Extended

The Minister of Local Government Peseta Sam Lotu-Iiga has asked the Select Committee to extend the report back date for the Local Government Act 2002 Amendment Bill (No 2). More>>


Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news