Govt shouldn't play bank with taxpayer money

Sun, 03 Feb, 2019

The Government’s new $100 million fund for Māori landowners is yet another example of the Bank of Shane Jones risking taxpayer money, says ACT Leader David Seymour.

According to the Prime Minister and Mr Jones, the $100 million fund is needed to help develop Māori land as landowners find it difficult to access capital from banks.

“If banks and other institutions aren’t willing to lend money to these landowners, why should it instead be taken forcibly from taxpayers?

“We’re told the money will increase the productivity of Māori land, but of course other parts of the economy will now be less productive as they are taxed more heavily to pay for it.

“Shane Jones is getting desperate as he runs out of places to put his $3 billion slush fund.

“He needs to spend $3 million a day. Taxpayers will lose out as increasingly poor decisions are made with their money by the Government’s Corporate Welfare Czar.

“ACT remains the only political party strongly opposed to billions being taken from taxpayers and being given to the Government’s favoured groups.”