The Government says the numbers being bandied about regarding funding allocated to Larry Ellison's Oracle Racing are wrong.

Information from the Ministry of Business, Innovation, and Employment suggest a grant of more than $17 million has been allocated to Warkworth based boat building firm, Core Builders Composites.

The company's fully owned by the America's Cup holder.

Economic Development Minister Steven Joyce says the amount of money granted to the company is confidential but is nothing like the $17 million that's been quoted.

He's calling the figure a fabrication and says so far the company has claimed considerably less than half a million dollars.