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Virgin Australia costing the NZ taxpayer $18 million
Virgin Australia costing the NZ taxpayer $18 million
Press
release: ACT New Zealand
March 31, 2016. 11:00am
ACT Leader David Seymour says reports that Virgin Australia is in dire financial straits are a concern for all New Zealand taxpayers.
“The New Zealand Government owns 51 per cent of Air New Zealand and according to media reports Air New Zealand has put more than $420 million into Virgin Australia. But the investment is now worth $35 million less. For taxpayers, that represents a loss of $18 million so far.
“Just like the struggles of Solid Energy and NZ Post, this is a classic example of why Government should not expose taxpayers to risks best left to the private sector, and should keep their noses out of business.
“The funds invested in these businesses could instead be returned to individual taxpayers who could choose whether or not to invest for themselves.”
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