Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 


The Beehive is Not an Incubator

MEDIA RELEASE

The Beehive is Not an Incubator

9 JULY 2014
FOR IMMEDIATE RELEASE

The Taxpayers’ Union is attacking Government grants to companies resident in technology-focused incubators. Executive Director Jordan Williams says:

“This is an example of politicians thinking they know more than IT entrepeneurs.”

“Minister Steven Joyce’s decision to risk $450,000 on these companies is a poor one. With a 3:1 funding ratio, the taxpayer is taking on 75% of the risk. If the technology-focused incubators are such a good investment then why aren’t the banks lining up to lend to these businesses? Why should taxpayers be underwriting the investments of private businesses just because it’s a sexy industry?”

“It appears that these loans are interest free. Politicians espouse the virtue of creating new industry, but ignore the cost of the taxes they’ve used to subsidies pet businesses.”

“The Government should not be risking tens of millions of taxpayer money subsidising privately owned businesses, even if they expect the money to be repaid eventually."

ENDS


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

PARLIAMENT TODAY:

Gordon Campbell: On The 1990s Retro Proposals For Our Health System

As we learned yesterday, the reviews propose that the democratically elected representation on DHBs should be reduced, such that community wishes will be able to be over-ridden by political appointees. In today’s revelations, the reviews also propose a return to the destructive competitive health model of the 1990s. More>>

ALSO:

Post-Cab Press Conference: Foreign Buyers Register, TPP And Serco

At a press conference today in Wellington, John Key discussed the foreign buyers register as well as the TPP and Serco. Key was questioned on whether a stamp tax might be used as a tool to deal with foreign buyers. More>>

ALSO:

Lyndon Hood Satire: Serco To Outsource Prison To Public Sector

In response to high-profile failings, multinational omnicorporation Serco will introduce public management in its prison system. Serco's New Zealand manager, speaking on condition of anonymity, has announced plans for managers from the Department of Corrections to run the Mt Eden Correctional Facility. More>>

National Party Conference: Plans To Nudge Immigrants Towards Regions

The Government will introduce a package of immigration measures aimed at improving the spread of workers, skills and investment across New Zealand, Immigration Minister Michael Woodhouse says. More>>

ALSO:

Corrections: Serco Relieved Of Control At Mt Eden Prison, Retains Contract

Multi-national private prison operator Serco has been forced to hand back control of Auckland's Mt Eden remand prison to the Department of Corrections, which has used a 'step-in' clause in its contract with Serco following a string of increasingly serious allegations about contraband, prisoner injuries and a death. More>>

ALSO:

Other Experiments: Failing Charter School Stays Open 'For Kids'

Education Minister Hekia Parata says she has given Te Pumanawa o te Wairua in Northland a chance to continue operating because of her concerns about finding other educational opportunities for its students. More>>

ALSO:

Prisoner Voting Ban: Court Finds Law Inconsistent With Bill Of Rights

Greens: National needs to immediately bring legislation to the House which lifts the ban on the right of prisoners to vote, said the Green Party. The High Court today ruled that the Electoral (Disqualification of Sentenced Prisoners) Amendment Act 2010, which stops prisoners from voting, is inconsistent with the Bill of Rights Act. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news