More corporate welfare for Ruapehu

The Herald reports:

The operator of the Whakapapa skifield has received another Government bailout, but Regional Development Minister Shane Jones insists it is the last one.

Cabinet has agreed to provide $7 million of financial support to Ruapehu Alpine Lifts(RAL), Jones announced today.

It also pledged to provide $3.05m in equity and loan funding to enable the sale of the Tūroa skifield assets to Pure Tūroa Ltd (PTL), a company owned by property developer Cam Robertson and businessman Greg Hickman.

For the last 17 months the insolvent, not-for-profit operator RAL has been kept afloat with $20m of taxpayer money.

I hope it is the last one, but I am not optimistic.

At the very most, the Government should have provided some one off assistance for say three months while buyers were found. $20 million of corporate welfare over 17 months is obscene, and I say that as someone who has skied at Mt Ruapehu since I was around five years old.