Wednesday, 12 December 2018 08:56

Taxpayer bank?

Written by Rural News Group

font size decrease font size increase font size
Print
Email

The Government's $9.9 million loan to Westland Milk is raising eyebrows.

Some on social media are calling it a Government bailout for a struggling dairy co-op.

The taxpayer-funded loan will help Westland construct $22m plant for specialty products.

One prominent finance commentator says the deal smells bad and wants more details to be made public. He tweeted “Looks like the taxpayer is now a bank.”

More like this

Alex Turnbull Appointed CEO of Yili Oceania Division

Former Fonterra executive Alex Turnbull has been appointed CEO to lead all five Yili Oceania Business Division companies in New Zealand.

Buttery prize

OPINION: Westland Milk may have won the contract to supply butter to Costco NZ but Open Country Dairy is having the last laugh when it comes to cashing in on NZ grass-fed butter.

Strong growth for Yili's NZ operations

Chinese dairy giant Yili Group says its New Zealand operations are on track for strong revenue growth in 2025 after recording significant year-on-year growth for the first half of the year.

Farmers win as government scraps proposed Fringe Benefit Tax on utes

Selecting the reverse gear quicker than a lovestruck boyfriend who has met the in-laws for the first time, the Coalition Government has confirmed that the proposal to amend Fringe Benefit Tax (FBT) charged against farm utes has been canned.

Tax expert hails 20% deduction as golden opportunity for agribusiness investment

A tax advisory specialist is hailing a 20% tax deduction to spur business asset purchases as a golden opportunity for agribusiness.

Featured

Dougal Morrison Named NZFFA President at Cambridge Conference

Dougal Morrison has been elected as the new President of the New Zealand Farm Forestry Association (NZFFA).

Perrin Ag Appoints Consultant Vicky Ferris to Strengthen Hawke’s Bay Agribusiness Support

Perrin Ag has appointed Vicky Ferris as its new Hawke's Bay consultant.

Schools Encouraged to Attend Fieldays with Discounted Student Tickets

The New Zealand National Fieldays Society is encouraging teachers to register school groups for the 2026 National Fieldays, set to be held at Mystery Creek Events Centre from 10-13 June.

Expert Says Fonterra Backing Current Strategy With New CEO Appointment

The appointment of Richard Allen as Fonterra's new chief executive signals execution, not strategy, according to agribusiness expert Dr Nic Lees.

Potatoes New Zealand Marks Milestone as Sector Faces Rising Pressure

Potatoes New Zealand has become much more than a grower body, according to Pukekohe grower Bharat Bhana.

Kiwifruit Growers Largely Escape Cyclone Vaianu Damage

The country's kiwifruit growers seem to have escaped much of the predicted wrath of Cyclone Vaianu which hit the east coast of the North Island this month.

National

Dairy Women’s Network Names 2026 Regional Leader Award Finalists

Ashleigh Gordon and Leilani Lobb have been named as the two finalists for Dairy Women's Network's (DWN) 2026 Regional Leader…

Farmers Face Change but Opportunity as Sector Evolves

New Zealand's food and fibre sector is entering a period of significant transition and Irricon's refreshed brand reflects how both…

Meat and Dairy Vital for Health and Hunger Solutions, Experts Say

The executive director of the Global Dairy Platform (GDP) Donald Moore says research being done at Massey University's Riddet Institute…

First-Farm Buyers Braden and Brigitte Barnes Secure Ownership with Award Support

Braden and Brigitte Barnes have taken the leap into farm ownership to purchase their first farm with support from the…

Fifth-Generation Farmer Transforms Dairy Farm into Biodiversity Hotspot

Fifth generation farmer Stu Muir believes dairy farming and conservation can go hand in glove.

Machinery & Products

Nissan NZ Launches MORE Ownership Programme with Extended Warranty

Nissan has announced that the Nissan MORE Ownership Program, available to New Zealand customers, is an initiative to deliver peace of…

Massey Ferguson Introduces High-Efficiency Small Square Baler

Massey Ferguson has announced the release of the SB.1436DB small square baler to New Zealand, featuring a unique layout producing…

Dairy Wearables Gain Value Through Integration with MINDA System

Wearable collars, ear tags and boluses are becoming increasingly common on Kiwi dairy farms.

SenseHub Dairy Launches Inline Milk Sensors for Real-Time Cow Data

Two inline milk sensors are now available on monthly subscription from SenseHub Dairy, adding milk yield and quality insights to…

Te Pari Launches Modular AB Race for Safer Dairy Breeding

With the artificial breeding season creating increased activity and the need to handle cattle safely and efficiently, a dedicated AB…

» Latest Print Issues Online

Visit archives

Taxpayer bank?

More like this

Alex Turnbull Appointed CEO of Yili Oceania Division

Buttery prize

Strong growth for Yili's NZ operations

Farmers win as government scraps proposed Fringe Benefit Tax on utes

Tax expert hails 20% deduction as golden opportunity for agribusiness investment

Popular Reads

Heinz Wattie’s Plant Closures Set to Hit Canterbury Vegetable Growers Hard

State of Emergency Declared in Far North and Whangārei as Severe Weather Worsens

Halter Raises NZ$377M to Expand Virtual Fencing Globally

Local State of Emergency Declared in Waikato Ahead of Cyclone Vaianu

Cyclone Vaianu Brings Heavy Rain, Flooding Across NZ

Featured

Dougal Morrison Named NZFFA President at Cambridge Conference

Perrin Ag Appoints Consultant Vicky Ferris to Strengthen Hawke’s Bay Agribusiness Support

Schools Encouraged to Attend Fieldays with Discounted Student Tickets

Expert Says Fonterra Backing Current Strategy With New CEO Appointment

Potatoes New Zealand Marks Milestone as Sector Faces Rising Pressure

Kiwifruit Growers Largely Escape Cyclone Vaianu Damage

National

Dairy Women’s Network Names 2026 Regional Leader Award Finalists

Farmers Face Change but Opportunity as Sector Evolves

Meat and Dairy Vital for Health and Hunger Solutions, Experts Say

First-Farm Buyers Braden and Brigitte Barnes Secure Ownership with Award Support

Fifth-Generation Farmer Transforms Dairy Farm into Biodiversity Hotspot

Machinery & Products

Nissan NZ Launches MORE Ownership Programme with Extended Warranty

Massey Ferguson Introduces High-Efficiency Small Square Baler

Dairy Wearables Gain Value Through Integration with MINDA System

SenseHub Dairy Launches Inline Milk Sensors for Real-Time Cow Data

Te Pari Launches Modular AB Race for Safer Dairy Breeding

» Latest Print Issues Online

Milking It

Too Lenient

Fossil Fuel Crusade

» eNewsletter

Taxpayer bank?

More like this

» Latest Print Issues Online

» Connect with Dairy News

» eNewsletter