Jones must release Westland loan details

Sun, 02 Dec, 2018

Shane Jones should immediately divulge the details of a government loan to private company Westland Milk Products, says ACT Leader David Seymour.

The Government announced last week a $9.9 million loan to the company, a move being called bizarre and setting a dangerous precedent. 

“The company has told the Herald it is happy for the details of the loan to be made public, but MBIE bureaucrats seem to believe they have no obligation to the taxpaying public.

“New Zealanders need to know on what terms their money is being used to prop up a struggling venture. 

“Jones should tell his self-important MBIE bureaucrats to release the details of the loan so we can see how favourable it really is. 

“History tells us that governments trying to pick private sector winners is a loser of a policy.

“Politicians don’t have strong incentives to make good decisions with other people’s money.

“New Zealand won’t become a wealthier country by sinking taxpayer resources into struggling enterprises.”