"Forget Rail Passengers, Subsidise High Flyers"
Media Release: 26th September 2006, 11.50am
"Forget Rail Passengers, Let's Subsidise the High Flyers Instead"
In an attempt to justify his governments refusal to front up with the $1.75 million required each year to keep the Overlander operating, Trevor Mallard says this would have represented a subsidy of $25.00 per passenger. Is this the same Trevor Mallard whose cabinet just arranged for a special interest free $12 million "loan" for Right Hemisphere Ltd - a private, mainly US based company, in which a few of NZs richest (including Stephen Tindall) have significant investments?
If it is, then the $12 million taxpayer funded "investment" for Right Hemisphere Ltd over the next three years, represents a subsidy for each of its 55 New Zealand employees of $72,727.27 per annum for the next three years.
Given that Right Hemisphere Ltd has already received millions of dollars of taxpayer funding via the Venture Investment Fund, it seems that the government is clearly picking winners.
Stephen Tindall claims to believe in "hand ups - not hand outs". Instead of putting his hand out to the taxpayer while saying "pick this business as a winner for me", he should put his hand in his own pocket.
Author of “I See Red” (Published by Awa Press) and available at all good bookstores and online at www.awapress.co.nz for only $29.99