Rt Hon Winston Peters
New Zealand First Leader
Member of Parliament for Northland
26 OCTOBER 2016

Collapsed Software Firm Received National’s Corporate Welfare

New Zealand First says the collapse of NZX-listed software firm Wynyard Group reveals the National Government’s economic House of Cards.

“Yesterday was a sad day for Wynyard’s 100 staff as they learned after the Labour Day weekend that their company was going into voluntary administration,” says New Zealand First Leader and Northland MP Rt Hon Winston Peters.

“Yet again, a beneficiary of National’s corporate welfarism has fallen over despite taxpayers pumping in over $1 million since 2013. We wonder just how much more money the taxpayer has lost and we are asking the question.

“Failed big-city firms like this seem to win National’s largesse, while successful ones in provinces, including Northland, get knocked back by this government’s shameful approach to research and development.

“Sadly, Wynyard represents one more card in this government’s House of Cards economy.

“The Prime Minister no less was at the 2014 Auckland Exporter Awards toasting its success as a finalist for exporter of the year. A few months later, in 2014, Science and Innovation Minister Steven Joyce welcomed news that Wynyard Group’s grandiose sounding ‘global research and development facility’ was going into Christchurch’s Innovation Precinct.

“And this also impacts on the police who have invested into its software – serious questions need to be asked over this.

“It is a sad day when any company fails but an even sadder one when the taxpayer gets taken for a ride,” says Mr Peters.

ENDS

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