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Hydrogen project needs regulatory stability

Hydrogen project needs regulatory stability, not a taxpayer handout

26 NOVEMBER 2018
FOR IMMEDIATE RELEASE

The Government shouldn’t be giving millions in taxpayer funding to a multinational energy company, says the New Zealand Taxpayers’ Union.

Taxpayers’ Union spokesman Louis Houlbrooke says, “$10 million or $20 million from the Provincial Growth Fund is a lot of money from Kiwi taxpayers, but it won’t make a lick of difference to the feasibility of a billion-dollar hydrogen project.”

“The Government should let private interests, rather than taxpayers shoulder the risk of investment in new energy production technology. We mustn’t repeat the mistakes of Sir Robert Muldoon’s taxpayer-funded Think Big projects, such as the Motunui Synthetic Fuels Plant which closed after just 13 years.”

“Instead of throwing money at a corporate heavy-hitter, the Government should enable this project to proceed without taxpayer involvement by giving 8 Rivers assurance it won’t pull out the regulatory rug in pursuit of an anti-gas agenda.”

ENDS




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