Goodbye Publicly Funded R&D as Chinese Eye Silver Fern Farms

With the Chinese set to make a substantial investment in Silver Fern Farms, New Zealand First is warning that taxpayer funded research and development worth over $200 million could easily head overseas.

“The Chinese will get a buy one, get one free deal with Silver Fern Farms, in which they are expected to invest $100 million,” says New Zealand First Leader and Member of Parliament for Northland Rt Hon Winston Peters.

“They will get our know-how and research and development funded by the taxpayer through the Primary Growth Partnership.

“This would include the $150m integrated value chain for red meat called Farm IQ. This seven-year Primary Growth Partnership programme has already attracted $59m from taxpayers and another $91m from Silver Fern Farms, Landcorp and Tru-test.

“Silver Fern Farms is a beneficiary to $32m of taxpayer-funded money Red Meat Partnership, which has $64m from Silver Fern Farms and eight other companies.

“Silver Fern Farms is also a partner with New Zealand Merino in its SILERE alpine origin merino brand and a commercial partner in venison’s Passion2Profit Primary Growth Partnership.

“These significant projects are meant to benefit the New Zealand economy and our farm system, not a foreign one.

“National is making an art form out of giving away our farming know-how and unless something is done, we’ll soon kiss goodbye to more unique New Zealand farming knowledge,” says Mr Peters.

ENDS

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