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Yet Another Corporate Welfare Fund? No Thanks
Responding to a report that Government officials are planning to make “sector or asset specific” investments via NZ Growth Capital Partners, New Zealand Taxpayers’ Union spokesman Louis Houlbrooke says:
“The taxpayer money administered by NZ Growth Capital Partners is meant to provide capital injections for businesses with high growth potential. It should be spent dispassionately, with the goal of returning value to taxpayers.”
“It’s disturbing to see officials eyeing up these funds as a way of providing targeted handouts to struggling businesses. That kind of ‘mission creep’ will erode the investment portfolio’s performance. Besides, the last thing New Zealand needs is another corporate welfare fund.”
“The further politicians (or for that matter bureaucrats) are kept away from investment decisions the better.”
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