Rarotongan Hotel
Sir—While saving less than $200,000 by silencing New Zealand’s radio voice in the Pacific, the Government is to sell its share in the Rarotongan Hotel to the Cook Islands Government and “private sector" partners for $5.5 million, then lend them the money to pay for it at 7 per cent interest. This is while New Zealand workers have to pay interest rates of 20 per cent on second mortgages to buy homes, and 30 per cent on hire purchase for home appliances. New Zealanders. already paying for an overseas airline doomed to "earn" millions in increased debt, must now contribute to, private profit from a grubby “fun place" waiting for a hurricane to demolish it. Never mind; the New Zealand taxpayer will rebuild it. Our Government is apparently seeking to capitalise on the current Ned Kelly revival. — Yours, etc., VARIAN J. WILSON. March 15, 1982.
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Press, 17 March 1982, Page 26
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147Rarotongan Hotel Press, 17 March 1982, Page 26
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