Govt. must not sabotage Team NZ with San Francisco corporate welfare
27 JUNE 2017
FOR IMMEDIATE RELEASE
The Taxpayers’ Union warmly congratulates Emirates Team New Zealand for their success today in Bermuda and says that the Government should resist the temptation to get on the bandwagon and throw money at the defence, before it is even clear money will be needed.
Jordan Williams, the Union’s Executive Director, said, “Cutting off the Government’s corporate welfare after the 2013 San Francisco series saw Team New Zealand do better and bring home the Auld Mug. This year’s Government support was limited to a Callaghan Innovation “growth grant” – the same grant given to our rival Oracle Racing.”
“Like in business, corporate welfare doesn’t make the boat go faster, and is often counter-productive.”
“Clearly public money is going to have to be spent on getting Auckland’s facilities ship shape to hold a world class event in four years’ time. But calls for taxpayer funding of Team New Zealand, before it is even clear whether any money will be needed, puts the cart before the horse.”