“Expect three years of fraud and waste as politicians desperately seek to buy votes and businesses clamour to get their hands on $3 billion of funds”, says ACT Leader David Seymour.
RNZ has revealed that a major shareholder in a project backed by the Provincial Growth Fund has been investigated by the Serious Fraud Office.
“The Cabinet paper setting up the Provincial Growth Fund (PGF) frankly admits that some ventures backed by the Government will collapse. Just how much taxpayer money will go up in smoke remains to be seen.
“Simon Bridges was responsible for this corporate welfare machine as Economic Development Minister up until 6 months ago. Just yesterday in the House he tried to force the Government to admit that many schemes funded through the PGF were the previous government’s ideas. He has no leg to stand on in criticising the Government now.
“Shane Jones has simply picked up where Mr Bridges left off”, says Mr Seymour.