Winemakers cranky Kiwis will keep $25m wine subsidy for now

The hunt for savings in the federal budget will not threaten the $25 million a year the government pays to New Zealand wine producers. In a move that has disappointed the local industry, Assistant Treasurer Josh Frydenberg on Tuesday announced the government would not swiftly overhaul the controversial Wine Equalisation Tax. Instead of moving in the budget, as some in the industry had hoped, Mr Frydenberg said the government had instead asked Treasury to prepare a discussion paper as part of the broader tax white paper process.