What process, if any, was followed leading to the decision to grant Golden Bay Cement $60 million in Government assistance?

Answer

The process included an open-book exercise to test Golden Bay Cement’s financial position and the commercial basis for potential support. Officials provided me with advice on a range of options, including direct financial assistance and alternatives that would have affected ETS obligations or industrial allocation settings. Cabinet considered the options and agreed to enter negotiations with Golden Bay Cement. Following those negotiations, final decisions were taken on the terms of the Government’s assistance, including conditions to protect the Crown’s interests.