Kiwis will be
horrified to know they are backing a Team Oracle subsidiary
owned by a US billionaire, Labour’s Sports and Recreation
spokesperson Trevor Mallard says.
It has been
revealed today that a Warkworth boat building company, which
is wholly owned by Larry Ellison’s America’s Cup team
Oracle Racing, may have received millions of dollars in
funding from the Government’s Callaghan Institute.
“National’s current research and development system
picks winners. It is ironic that in this case they are
picking an off shore-owned competitor of Team New Zealand to
be the winner.
“Under a tax credits system, all
New Zealand companies investing in R & D would be rewarded
for their investment, not just a handful selected by
Callaghan.
“This is yet another example of
questionable grants from this organisation. It follows
Callaghan’s dubious decisions to fund Chatham Rock
Phosphate and Trends Publishing.
“The Government
should be backing Kiwi-owned and operated businesses not
mega-wealthy American yachties,” Trevor Mallard says.
ends
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