Team NZ’s rejection of public funding offer means around $100m won’t be sunk into America’s Cup defence

It’s full steam ahead for the economy, according to the latest GDP statistics and a  Finance Minister who eagerly drew attention to the new data.

Our farm industries, generally, are doing nicely, too, thank you, in spite of head winds which include a growing raft of government regulations.

But prospects of the America’s Cup being defended in this country are in the doldrums.  That’s bad news for yachting buffs (but great news for taxpayers).

GDP increased 1.6% in the first three months of 2021, much better than the Treasury forecast of a modest decline of 0.2% in May’s Budget or (with the benefit of more recent data) economic commentators’ forecast of an increase less than 1%.

Internationally, the OECD average was 0.3%.

The economy was 2.4% above where it was in the March quarter last year.

A measure of the strength of the food and fibres sector – or rather, a measure of the government’s confidence in the sector – can be discerned from two reports released at Fieldays in Mystery Creek. Continue reading “Team NZ’s rejection of public funding offer means around $100m won’t be sunk into America’s Cup defence”