Economic Development Minister, Trevor Mallard follows Michael Cullen's policy of rejecting Treasury advice.
The NZ Herald reports; The Government will keep funding large-budget films despite the Treasury's reservations about the assistance scheme and a report that shows its economic impact could in the "worst case" result in a $38 million net loss....
....Treasury officials said there was not sufficient robust evidence to support the view that there were large spillover benefits to the economy to justify the subsidy programme.
The finding that the grant could have a negative economic impact raised doubts about its effectiveness, the Treasury said.
But Mr Mallard said yesterday that in his view the overall benefits outweighed the costs of the grant.
So the scheme will continue in accordance with Trev's view. I sometimes wonder what Treasury is for.
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