Treasury has been advising the government against direct support for struggling major private companies.
Prime Minister John Key told TVNZ's Q+A programme that officials have provided some advice to the finance minister, which was generally against the idea.
John Key says bailing out companies would remain a last resort because if the government started with one company, the question would be where to stop.
But Mr Key says the government does continue to reserve the right to do so, because of the unusual economic times.
