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.”
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