Rt Hon Winston Peters
New Zealand First Leader
14 March 2013

Pay Back the Hobbit Subsidy Say National’s Own Supporters

New Zealand First is unsurprised that 70 per cent of New Zealanders believe Hollywood companies should pay back the $67 million Government subsidy to make The Hobbit.

A UMR Research paper released today also showed that 56 per cent of National voters were in favour of Hollywood fat cats repaying the subsidy.

Rt Hon Winston Peters says New Zealand First supports subsidies to give deserving Kiwi companies a helping hand – but US film studio Warner Brothers doesn’t fit that category.

“The Hobbit has made more than US$1 billion at the global box office. It will make much more when DVD royalties and film merchandise are taken into account.

“There is no reason why Warner Brothers needed the subsidy in the first place other than wanting to maximise its profits.

“But as they were given the subsidy by the Government they should do the right thing and hand it back.

“That is what 70 per cent of New Zealanders think.

“Even National’s own supporters know that Warner Brothers should return the $67 million subsidy so it can be used on far more worthy causes in this country,” says Mr Peters.

ENDS

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