Scoop has an Ethical Paywall
Team NZ Slush Fund Dressed up as Corporate Welfare
Team NZ Slush Fund Dressed up as Corporate Welfare
3 February 2016
The Taxpayers’ Union is outraged that Callaghan Innovation has provided Team New Zealand with a research and development grant of up to $17.25 million. Taxpayers’ UnionExecutive Director, Jordan Williams, says:
“This fund is supposed to be about making the economic boat go faster, not to subsidise a professional sports team. It’s even worse than the usual corporate welfare we see from this Government. Only a politician, or someone with an interest in the deal, could possibly think that this grant is really going to lead to new jobs, exports or meaningful economic growth.
“Not only are taxpayers funding the sport of millionaires, we know that Callaghan have given ‘growth grants’ to Team New Zealand's opposition, Oracle Team USA. Talk about a kick in the teeth for taxpayers.”
ENDS
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