The Auditor-General’s report into the Provincial Growth Fund reset is a damning indictment on a Government more intent on announcements and ribbon cutting than respect for taxpayer dollars, National’s Economic Development spokesperson Michael Woodhouse says.

“The Auditor General’s latest report found no evidence of clear reporting or regular monitoring of how well the PGF reset was achieving its objectives or how its overall success or value for money could be determined.

“It didn’t see evidence of planning for, or commitment to, an evaluation of the outcomes of the PGF reset.

“The report said the Auditor General was not certain that Parliament or the public “can have confidence that the investments made through the PGF reset will ultimately represent good value for money’.

“This came on the back of an unflattering report released in 2018. Rather than improve the oversight of the $3 billion fund, monitoring is worse. Labour cannot blame its former coalition partners NZ First as the problems have continued in this Parliamentary term under its ‘reset’.

“This is an unacceptable situation for taxpayers who have a right to expect that their dollars will only be spent with care, such as having clearly defined success measures that are monitored and reported.

“It is not as if Kanoa, the Government entity responsible for managing the Provincial Growth Fund, are short of staff, with a headcount of more than 170.

“Taxpayers deserve better. A National government will ensure much greater rigour in ensuring investments have clear goals for growth and monitored for outcomes.”

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