Wednesday, 12 December 2018 08:56

Taxpayer bank?

Written by Rural News Group

font size decrease font size increase font size

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

Feds Label New Farmer Group 'Bad News'

A verbal stoush has broken out between Federated Farmers and a new group that claims to be fighting against cheaper imports that undermine NZ farmers.

Rising Fuel and Fertiliser Costs Hit NZ Farmers, ANZ Report Finds

According to the latest ANZ Agri Focus report, energy-intensive and domestically-focused sectors currently bear the brunt of rising fuel, fertiliser and freight costs.

Massey Ferguson and Eicher Drive Record Growth for TAFE in 2026

Having gone through a troublesome “divorce” from its association and part ownership of AGCO, Indian manufacturer TAFE is said to be determined to be seen as a modern business rather than just another tractor maker from the developing world.

Farmlands and Donaghys Join Forces to Boost NZ Agricultural Capability

Two long-standing New Zealand agricultural businesses are coming together to strengthen innovation, local manufacturing capability, and access to essential farm inputs for farmers across the country.

Fonterra launches farmer-led youth dairy programme in Waikato and Bay of Plenty

A new farmer-led programme aimed at bringing young people into dairy farming is under way in Waikato and Bay of Plenty.

Government Amends Stock Exclusion Regulations for Low-Intensity Grazing

The Government has announced changes to stock exclusion regulations which it claims will cut unnecessary costs and inflexible rules while maintaining environmental protections.

National

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.

Taupiri Farmer Chris Woolerton Tipped as New Federated Farmers Waikato President

Taupiri farmer Chris Woolerton is tipped to take over as Federated Farmers Waikato president from next week.

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…