"The Government's contribution allows us to be competitive on the world stage," Mr Dalton said.
Another socialist with both fists in my wallet.
At least we now know where Monday's share of the $300M borrowed this week went in these dire economic times. Priceless.
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5 comments:
At least it is a high end sport, with world wide exposure.
Not like the stupid RWC and the hundreds of milliosn wasted on marketing oursleves to countries that already know us....
Agree with the RWC comment Anon, exactly why are we wasting billions in stadia and the like to host a few one match wonders and their piss-head fans. All funded via ratepayers so Key can have a photo-op.
As for the high end sport of billionaires - it is a ruthlessly expensive game to be in. The ongoing recession has already buggered NZ Marine Inc locally with the yellow hordes making boats far cheaper.
re RWC - also interesting that IRB had to bundle 2015 (in uk) and 2011 toegtehr to get a reasonbale tv bid.
ITV only get 15-16m viewers for rwc finals (2004/2007).....no one is watching - yet we spend millions.
The only people going on and on about RWC are council staff who've created a job out of it - and love spending ratepayers $
The argument is always that it is good for the NZ boat builders. The low end market is local only as the big builders like Beneteau will always produce a cheaper and more marketable boat.
The top end ones get many international orders to make or refurbish boats of unimaginable opulence.....and if they want advertising for their business, they should pay for it.
"The Government took legal advice on breaking its contract to put $36 million towards Team New Zealand's 2013 America's Cup campaign.
Acting Economic Development Minister David Carter confirmed the funding on Thursday, which he said promised "the potential to generate significant economic benefits" for the country.
Mr Carter said the Government expected "maximum benefit" from the "significant investment" of taxpayer money in the event.
The Government was contractually obliged to produce the funding because of an agreement signed by the previous Labour-led Government. Legal advice sought by the ministry said the Crown had to honour the agreement. "
Nice one Trevor
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