Dollar Slide - Business Confidence - Arts Funding - Film Funding - Soccer Riots In Denmark - Olympic Flame Runners - St
Stephens
DOLLAR SLIDE: The Minister of Finance is calling for calm after the dollar plunges below 46 cents US. Opposition blames
Jim Anderton. Richard Prebble asks Dr Cullen to tell Jim Anderton to shut up. He says he doesn't think the markets are
spooked. National is also concerned about the worries of the markets. The problem is that pessimism is coming from his
coalition partner. The coalition allows the Alliance and Labour to disagree in public but there appears to be practical
problems with this.
BUSINESS CONFIDENCE: Business leaders are blaming the government for falling confidence. ASB bank economist says that
the NZ Dollar is falling away for no good reason. Since May last year the dollar has dropped 18%. On Tuesday the Finance
Minister delivered a speech and the dollar has since fallen 2 US cents. Business leaders highlight a series of causes
for the lack of confidence. At the Viaduct Basin the superyachts are gone. Restaurants are struggling. Risking fuel
costs are also a worry. The AA says the cost of running a medium sized car has risen 10%.
ARTS FUNDING: The Government has saved the NZSO with an arts package totalling $86 million. The NZSO is delighted at the
cash injection. The biggest winner is NZONAIR. Te Papa gets $11 million. A Music Industry Commission gets $2 million.
Christchurch's new art gallery also gets money as does NZ Ballet and the Edwin Fox. Opposition parties say the package
ignores the needs of ordinary NZers. Richard Prebble says the money will keep the band playing while the economy sinks.
FILM FUNDING: $22 million is being injected into the film industry. The money looks targetted at small film makers. The
fund will pay for second-tier films. Kiwi films are being well received at Cannes. The fund is expected to produce at
least 10 new films over eight years.
SOCCER RIOTS: Turkish and English fans battle it out in the centre of Copenhagen before the European Cup Final. The
injuries mounted as the battle continued. Questions at the role of the police they arrived late and did not do a lot.
Today's violence has been brewing since two Leeds fans were killed in Turkey.
OLYMPIC FLAME: Dick Quax and Rod Dixon will be added to the pool of runners with the Olympic Flame.
ST STEPHENS SCHOOL: New allegations of violence at the school from the mother of a student who says her son was beaten
after he returned to school after an operation. St Stephens rejects the allegations saying that students make
allegations up because they don't want to be at the school. The Minister of Education has received another report saying
that the culture of violence at the school has not changed. Police are still considering laying charges against a 5th
former involved in last weeks attack.