Taxpayers’ Union Slams $50m “Interest-Free” EV Loan As Costly Corporate Welfare

The New Zealand Taxpayers’ Union is slamming the Government’s $52.7 million in zero-interest loans for EV chargers as ultimately costing taxpayers more as borrowing costs rise.

Taxpayers’ Union Investigations Coordinator, Rhys Hurley, said:

“If EV charging stacked up commercially, the private sector would already be funding it. If the Government is already moving to remove red tape to make installation easier, why are these loans needed at all?”

“Calling these loans ‘interest-free’ is spin. The Government still has to borrow that money and as borrowing costs rise, taxpayers are picking up the tab.”

“This is corporate welfare dressed up as infrastructure. The Government is subsidising EV chargers for those who can already afford electric vehicles, while everyday taxpayers carry the risk.”

“At a time of rising debt and higher borrowing costs, the Government should not be picking winners and handing out corporate welfare.”