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Govt money approved


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Yes, and you are right, but many people seem unable to grasp the fact, and see the funds as "given" to ETNZ and therefore wasted. Apparently the Govt redeemed the whole lot in Taxes alone from ETNZ and the other AC teams that were here training/visiting etc. Hard to keep everyone happy - a bit like moderating this forum!

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Full independent report here> http://www.med.govt.nz/majorevents/pdf-library/news/independent-evaluation.pdf

 

Initial Summary below. People will always twist this to try and make a point however the fact is that the $36 mill invested returned over twice that to the NZ Economy.

 

"The effects of ETNZ’s participation in the America’s Cup between July 2007 and September 2013, which included their challenge for the 34th America’s Cup, can be expressed from a number of perspectives including a total economic impacts and tax revenue perspective. In economic terms, the total direct and flow-on effect of syndicate and crew spending contributed $200787m of value added ($2013105m) to the national economy and sustained the employment equivalent of 1,220 workers for one year. Most sectors in the economy captured a share of these impacts – the top 6 including business services, cultural and recreational services, ownership of owner-occupied dwellings, transport equipment manufacturing (mainly boat building), retail trade, and the finance sector."

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Management? Where did you get that spin? From Deans mummy?. There is no Dept of choking thus there is no need for Barker

They won't get rid of him, he'll be kept on as his experience in these campaigns is invaluable. They would be stupid to let him go, he'd be picked up by someone else straight away.

 

Calm down and carry on Ketchup, the world won't change because of this, you'll still wake up tomorrow and do the same thing you did today...

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I'm still curious as to why Ketchup is so animated over something of so little concern. Even the taxpayers money is a piddling amount in the greater scheme of things. Hell if I was going to bitch about govt spending I'd say stay out of the middle east. Go figure.

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Respectfully disagree with the person who wrote above that the left opposes government subsidies to business. Leftist governments do that all the time. 

 

And I don't think anyone has yet mentioned the technological spin-offs from the AC campaigns such as composite cored hulls, and much else. 

 

Your government's very small investment in the AC is both far more efficient in terms of benefits, as well as more morally justifiable, than the HUGE amount we gringos spend on military R & D.  

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Nothing personal here AJ, but my sister lives in the US and last time she visited we tried to compare income and taxes as accurately as we could.

We concluded Americans pay very much the same percentage of income in tax as NZ'ers do (albeit under different guises and different names).

But then they have to pay again for things like education and health care, which here are funded by taxes. As far as we could figure out the difference was your enormous military bill. Or in other words if you cut back the military spend you could offer free comprehensive health care and free education to every US citizen (and have quite a bit left over).

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BP, you are correct about our ruinous military spending - which is the main reason I'm in Veterans For Peace. Even worse is the fact that possessing such a gigantic war machine creates irresistible temptations for politicians to use it. 

 

Question for the board - Am I correct in arguing that the NZ AC campaigns have resulted in technological spin-offs? If so, what are the main ones? 

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Guest Ketchup

While I agree with you that this government is doing a crap job of running the country, I was comparing 36m with total govt revenue about 72 b, or 0.0005%, so a piddling amount.

Go tell a struggling Hospice or Hospital or sick patient that36 million is piddling and yachties are more important than you liver/kidney/cancer treatment.

 

The Labour party started this "AC funding" and yes they did a crap job, got voted out and look very sad now.

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Guest Ketchup

American taxes may be similar but their food/petrol/services/car/almost everything prices are very much lower than NZ.

 

Go into trader joes and buy a 6 pack of Corona for about $8 NZD

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Management? Where did you get that spin? From Deans mummy?. There is no Dept of choking thus there is no need for Barker

They won't get rid of him, he'll be kept on as his experience in these campaigns is invaluable. They would be stupid to let him go, he'd be picked up by someone else straight away.

Calm down and carry on Ketchup, the world won't change because of this, you'll still wake up tomorrow and do the same thing you did today...

Ketchup?? Calling Ketchup?? Oh that's right...

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Guest Ketchup

govt funding for team NZ is a waste but the amount of corporate funding wasted on this team,that could go to many struggling NZ sports, is the biggest loss.

 

Imagine if Emirates gave their millions directly to yacht clubs (not YNZ) to invest in sailing!...

 

 

Imagine where NZ sailing, our fleets, and all supporting infrastructure/ businesses would be right now!?

 

After all there has been millions spent on a "corporate" sailing team but how has sailing in NZ grown?... it has Not! In Fact the AC has pushed people away from the sport due to the expense and elite image it promotes!

 

In fact ETNZ has nit been good for yachting promotion or growth at all!

 

That's why Aussie got out!

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