22 February 2016

Meddling Joyce shouldn’t cut funding to NZVIF

Steven Joyce should keep his hands off the successful New Zealand Venture Investment Fund, given his meddling history usually turns wine into water, says Economic Development spokesperson David Clark.

“The NZVIF has been extremely successful since Labour established it in 2002 to help businesses grow. It has supported a number of lower-profile businesses as well as better-known companies, such as Xero, Orion Health and Moa.

“Although it is well on the way, it has yet to reach the point where it is completely self-sustaining.

“Now is not the time to spark concerns about its future, especially with international markets in an unpredictable state.

“Steven Joyce should keep his hands off the Venture Investment Fund. It’s doing fine without him. He needs to focus more attention on the various agencies under his control that are already struggling,” says Economic Development spokesperson David Clark.

ends