$50 million of taxpayer money on a ski field

Newsroom has a summary of taxpayer money spent on Mt Ruapehu:

• 2018 – $10m towards financing the Sky Waka (pre-insolvency)
• 2020 – $5m for operating expenses (pre-insolvency)
• November 2022 – $2m loan to support RAL (in insolvency)
• December 2022 – $6m loan to support RAL (in insolvency)
• June 2023 – $5m loan to support RAL (in insolvency)
• October 2023 – $7m loan to support RAL (in insolvency)
• March 2024 – $7m loan to support RAL (in insolvency)
• March 2024 – $3.05m Tūroa purchase support
• December 2024 – $5m Whakapapa purchase support (committed)

How often have we been told this is the final assistance. We are now deep into the sunk cost fallacy.