Rt Hon Winston Peters
New Zealand First Leader
14 March 2013

Pay Back the Hobbit Subsidy Say National’s Own Supporters

New Zealand First is unsurprised that 70 per cent of New Zealanders believe Hollywood companies should pay back the $67 million Government subsidy to make The Hobbit.

A UMR Research paper released today also showed that 56 per cent of National voters were in favour of Hollywood fat cats repaying the subsidy.

Rt Hon Winston Peters says New Zealand First supports subsidies to give deserving Kiwi companies a helping hand – but US film studio Warner Brothers doesn’t fit that category.

“The Hobbit has made more than US$1 billion at the global box office. It will make much more when DVD royalties and film merchandise are taken into account.

“There is no reason why Warner Brothers needed the subsidy in the first place other than wanting to maximise its profits.

“But as they were given the subsidy by the Government they should do the right thing and hand it back.

“That is what 70 per cent of New Zealanders think.

“Even National’s own supporters know that Warner Brothers should return the $67 million subsidy so it can be used on far more worthy causes in this country,” says Mr Peters.

ENDS

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Scoop Business: Bathurst Gets Nod For DoC Access To Denniston Mine

Conservation Minister Nick Smith has approved access over conservation estate land for Bathurst Resources to develop an open cast coal mine on the Denniston Plateau, above Westport, to the dismay of environmental opponents.

The timing for Smith’s move avoids Bathurst having to resubmit applications for access agreements under the revised Crown Minerals Act, which comes into force tomorrow and would have required public consultation.

The announcement lands in the middle of delicate negotiations between the company, environmental groups and other interested parties that could pave the way to a broader agreement on the Escarpment proposal, whose resource consents are still subject to court appeals. More>>