Government Borrowing $100 million for High-Risk Gambling

The Taxpayers’ Union is slamming the Government’s latest foray into corporate welfare, following the announcement that Budget 2025 will include an extra $100 million Government funding for the Elevate NZ Venture Fund.

Taxpayers’ Union Spokesman James Ross said:

“When will this Government learn the way to grow the economy isn’t just to tax more, spend more, and try to pick winners?”

“Corporate welfare might make for a good photo op, but $100 million of taxpayers’ cash is a steep price for a splash in the papers.”

“With Nicola Willis still borrowing more than $47 million every single day, this is nothing more than high-risk, high stakes gambling on the credit card.”

“If the Government wants real growth, handouts aren’t the answer. Scrap the disincentives to investment and bring in Full Capital Expensing.”