Anderton Spends $122 Million On Corporate Welfare

Friday 27 Aug 2004

Rodney Hide - Press Releases - Economy

Economic Development Minister Jim Anderton has forked out over $122 million of taxpayers' dollars on corporate welfare since the Labour Government came to power, ACT New Zealand Leader Rodney Hide revealed today.

"In reply to my written Parliamentary Question, Mr Anderton admitted spending $122,160,163 of hard-working taxpayers' money on corporate welfare since October 1 2000," Mr Hide said.

"It is grossly unfair that 2,142 companies and organisations received Government grants - while 294,594 other businesses, which missed out on Mr Anderton's lolly scramble, paid for it.

"It's simply outrageous that taxpayers are footing the bill for Mr Anderton's ego trip. Even more outrageous is the number of embarrassing failures resulting from the Minister's ill-conceived attempts at `picking winners'.

"Mr Anderton should stop playing Santa Claus, and quit dishing out taxpayers' money on corporate welfare.

"The best way to help business is to slash red tape and cut the top corporate tax rate to 20 cents in the dollars.

"That would attract investment, stimulate growth, boost wages and put more money in every New Zealander's pocket," Mr Hide said.

ENDS

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