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Payment to ‘The Limery’ is a loan, not a grant

Clarification: Payment to ‘The Limery’ is a loan, not a grant
13 JUNE 2019

On Wednesday the New Zealand Taxpayers’ Union issued a statement about the Provincial Growth Fund’s $355 million loan to ‘The Limery’ in Wairoa.

The introduction of our statement called the loan a ‘payment’, which could lead some to believe it was a grant rather than a loan to be paid back. Management at The Limery has asked us to clarify that the payment was indeed a loan.

Taxpayers will be happy to have this confirmed.

ENDS



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