Budget 2016 splashes out on fat corporate welfare cheques

Press release: ACT New Zealand
May 26, 2016. 2:10pm

Funding for $761 million in corporate welfare via 'Innovative New Zealand' is an insult to taxpayers, says ACT Leader David Seymour.

"Bill English needs to ‘just say no’ to Steven Joyce’s corporate welfare addiction," says Mr Seymour.

"There is no public appetite for hand-outs to businesses. There is no pressure from the opposition or the media. So who’s been pouring poison into Steven Joyce’s ear?

"The Government could have simply used these funds to drop the company tax rate. This would help all New Zealand businesses – not just those that are politically trendy.

"This spending comes on top of the Government's existing $1.3 billion annual corporate welfare spend."

ENDS

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