Millions of taxpayer dollars lost or at risk amid Callaghan wind-up

PremiumChris KeallTechnology Editor/Senior Business Writer·NZ Herald·16 Jul, 2026 05:00 PM7 mins to read‌Fully 42% of Callaghan loan recipients have defaulted so far, with the numbers poised to get worse. Photo / Getty CreativeA Crown agency’s loan book – showing a high rate of delinquency – provides a window into the risks of backing start-ups.It’s also prompted a veteran investor in early stage companies to question whether the Government should try to “pick winners” by allocating loans.

Herald inquiries have also revealed

Millions of taxpayer dollars lost or at risk amid Callaghan wind-up

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