BizDojo takes ratepayer assets to London

2 FEBRUARY 2017
FOR IMMEDIATE RELEASE

The New Zealand Taxpayers’ Union says the liquidation and failure of BizDojo reflects badly on the agencies who gave the business ratepayer money.

Taxpayers’ Union Executive Director Jordan Williams says, “BizDojo has received ratepayer money from both ATEED and WREDA. Now these ratepayer funds are flowing straight out of the country to BizDojo’s next owner, a London-based multinational.”

“Meanwhile, BizDojo still owes Auckland ratepayers $340,000 in rent granted by ATEED, and according to liquidators they have no means of paying this back.”

“This is a classic example of foolish corporate welfare. Unaccountable bureaucrats gave a trendy-sounding business large amounts of ratepayer cash. If BizDojo had succeeded, ratepayers would have received no dividend. And now that they’ve failed, it’s ratepayers who are left with a bill.

“This is particularly embarrassing for WREDA, who are already dealing with the failure of Singapore Airlines’ Wellington-Canberra route, another ratepayer-subsidised venture.”

ENDS

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