The government has rejected a $75 million proposal to host the next America’s Cup in Auckland, citing fiscal responsibility and prioritisation of essential services like healthcare, education, and infrastructure.
Prime Minister Christopher Luxon emphasised the need to make mature financial decisions amidst a strained economy, while Finance Minister Nicola Willis questioned the claimed $2 billion economic benefit of the event.
Other ministers echoed the sentiment, noting that the bid relied on introducing a new “bed tax,” which the government opposed.
Meanwhile, while Labour leader Chris Hipkins argued the Cup offered significant economic and innovation opportunities for Auckland and the country, his party stopped short of committing to funding the bid.
‘Sensible move NZ is a third world country now we have to realize this fact we cannot afford such events.
Ohh how we have fallen under Labor and National.
I will never support nz sailing again after we had the chance to run this but the greedy scum at team nz sold the rights to the highest bidder…
Peter Blake would be turning in his grave