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Nigel B's avatar

Interesting that we complain about Maori redress to put right the the historic, systematic harm done to Maori when the $ amount repaid to them is peanuts compared to handouts, and I mean HANDOUTS in these cases, to private institutions. Nobody seems to ever consider or mention these.

Air New Zealand: The government established a $900 million loan facility in March 2020 to prevent the national carrier from collapsing due to pandemic-related travel restrictions.

This echoed a previous $885 million recapitalization in 2001 when the state bought a majority (82%) ownership stake.Finance Company Guarantees (GFC): To prevent systemic collapse during the 2008-2010 financial crisis, the government initiated a retail deposit guarantee. This resulted in a $1.6 billion taxpayer bailout for investors in the failed South Canterbury Finance alone, with tens of millions more paid to cover smaller finance company defaults.

Bank of New Zealand (BNZ): In 1989 and 1990, during a severe financial downturn, the government stepped in to recapitalize the BNZ, spending over $1.3 billion in total across two rescues before eventually selling the bank.

Other smaller-scale interventions include a $50 million funding package for media companies and various bailouts for regional assets like Ruapehu Alpine Lifts ($7 million)

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