$50 million of taxpayer money on a ski field
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Newsroom has a summary of taxpayer money spent on Mt Ruapehu:
- 2018 – $10m towards financing the Sky Waka (pre-insolvency)
- 2020 – $5m for operating expenses (pre-insolvency)
- November 2022 – $2m loan to support RAL (in insolvency)
- December 2022 – $6m loan to support RAL (in insolvency)
- June 2023 – $5m loan to support RAL (in insolvency)
- October 2023 – $7m loan to support RAL (in insolvency)
- March 2024 – $7m loan to support RAL (in insolvency)
- March 2024 – $3.05m Tūroa purchase support
- December 2024 – $5m Whakapapa purchase support (committed)
How often have we been told this is the final assistance. We are now deep into the sunk cost fallacy.
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