Corporate Welfare nets millionaires even more cash

Cactus Kate takes issue with corporate welfare funding massive capital gains to millionaires:

Good on Sonar6 for growing, having no reported profit and the shareholders flogging it to foreigners for US$14 million.

But two questions:

1. Dividends will now go to offshore owners. Where is the outcry as there is when a farm is sold?

2. Why does a company get $250,000 in taxpayer funds when it is backed by some of the richest people in NZ?

Well three questions

3. The taxpayer puts in $250k and less than nine months later the company is flogged off clearly with the intention of quick gains. Where is the slice of the capital gain pie for the taxpayer with its investment? Clearly not a long term growth strategy.

4. And maybe a fourth, Morgan + quick sale for capital gain. Tax? Of course not. Do as I say not as I do.

Calling bullshit on corporate welfare here again. I can understand why the political left get upset when we have faux entrepreneurs trotting their wares using government handouts.

Take your gains but man up and use your own money.


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As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story. When he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet. Cam Slater doesn’t do quiet and, as a result, he is a polarising, controversial but highly effective journalist who takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him, you can’t ignore him.

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