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New Green-tint corporate welfare scheme mistaken

Press Release – New Zealand Taxpayers’ Union

Putting aside $100 million for a Green Investment Fund to compete with investment bankers is a mistake, says the New Zealand Taxpayers’ Union.

17 MAY 2018
Putting aside $100 million for a “Green Investment Fund” to compete with investment bankers is a mistake, says the New Zealand Taxpayers’ Union.

Union Economist Joe Ascroft says “James Shaw says international investors are ‘already shifting into climate-aligned investments.’ If that’s the case, then why does the Government need to set up a fund to compete with them?”

“If low-carbon products and investments make good economic sense, there will be plenty of investors willing to fund them, and the fund won’t be required.”

“Instead of fuelling economic growth, this is just another example of picking winners, and taxing already successful businesses to fund potential failures. If the Government is interested in growing the economy, it should commit to scrapping all corporate welfare – including the Green Investment Fund – and put the savings into across the board corporate tax cuts.”

ENDS

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