The Tiwai industrial subsidy

By Matt Nolan 08/08/2013

Bleh, it was bad enough that Tiwai was being effectively subsidised to start with – but a $30m sweetener.  Urg.

I would say something – but I’ll leave it up to my work colleagues.  On Tiwai and electricity and on the Southland workforce and a managed exit.

My additional point, I see no justification for this deal – helping the plant wind-down in an orderly fashion could be justified, but propping it up is not.  This is a transfer of resources to many in Southland (the workers and those they interact with), the firms owners, and buyers of aluminum … and by the sounds of things financial analysts – it is unsurprising that the people being given things from everyone else in New Zealand are supportive of it.

UpdatePaul Walker from Anti-Dismal also comments.  And Seamus Hogan from Offsetting Behaviour here.