That was Then, This is Now #32 - What's the difference between aluminium and democracy?
About $30 million, it seems...
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That was then…
Rio Tinto will not reimburse the $30 million Government subsidy it received to keep Tiwai Point open, in spite of posting a $3.7 billion 2013 profit.
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…if Rio Tinto had closed straightaway and Tiwai Pt had closed in New Zealand then hundreds and hundreds and hundreds of jobs would have disappeared."
This is now.
Luxon said it was "highly unlikely" there would be any government intervention in the sector. - RNZ
"What was quite obvious to me is that Warner Bros Discovery is one of the largest global media companies in the world, $20 billion I think, is what it's worth, and as a result, they couldn't make that business model work and so they're having to face up to declining advertising revenues, also changing consumer habits, and that's why they've come to the decision they have." - Chris Luxon, 28 February 2024, Newshub
Funny how past National governments could find $30 million for Rio Tinto to keep the Tiwai Point smelter open, and $191 million for Warner Bros to entice them to keep ‘The Hobbit’ in Aotearoa - but are not prepared to act to keep Newshub open.
It's almost as if aluminium and fantasy movies are more important than a fully functioning democracy?
Ironically, Newshub/TV3 is owned by Warner Bros - the same company that extorted millions out of the New Zealand taxpayer when they threatened to take ‘The Hobbit’ overseas. (A threat that proved to be hollow.)
This is a destructive government.
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References
Stuff media: $30m subsidy 'not a major outlay'
RNZ: Government intervention to save Newshub 'highly unlikely'
Stuff media: $191m in public grants paid to Hollywood for Hobbit trilogy
Stuff media: Hobbit looks headed overseas
NZ Herald: Sir Peter - Actors no threat to Hobbit
Related blogposts
Nick's Kōrero: Redundancies Bite.
Previous related blogposts
John Key – we will not be held to ransom!
Tiwai Point – An exercise in National’s “prudent fiscal management”?
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I've only just discovered you are here Frank. Read some good stuff yours in the past. Keep it up.
Good work Frank