ACT’s voodoo economics

Written By: - Date published: 6:18 pm, August 3rd, 2014 - 53 comments
Categories: act, business, capitalism - Tags:

Penny Bright ACT

Not satisfied with playing the Maori bashing card and appealing to some people’s inherent racism ACT has released a further policy that will appeal to the right’s greed.

ACT has announced its policy on corporate tax and, surprise surprise, it wants to reduce it.

Great things are promised.  By reducing the share that the wealthy contribute to the collective good apparently we will all be better off.  According to Whyte European and American studies suggest cutting the rate by 10 percentage points will make economies grow by between 1 and 2 per cent extra a year, and each 1 per cent reduction in the rate will boost wages by between 0.3 and 0.5 per cent.

Huzzah!

Unfortunately for the poor this approach to economics does not apply to everyone.  According to ACT and National paying poor people a living wage costs jobs but letting rich people keep more of the money helps us all.

The cuts are dramatic.  The corporate tax rate would decrease from 0.28c in the dollar to 0.125c.  My quick calculation is that this will reduce the tax take by about $5.5 billion.  But ACT would have us believe that it will all be worth it.

From Stuff:

ACT says it can boost economic growth by a third with a policy to cut the company tax rate to 12.5 per cent.

Leader Jamie Whyte says this will increase investment, and job and GDP by one third, leading to higher wages.

He would fund the tax cut by slashing “corporate welfare,” worth about $1.5bn a year, and carbon trading, worth $164m.

If my figures are right there would still be a further $3.8 billion to find.

Of course the big issue is what does National think of this?  National has been very careful to not announce policy so far.  All that we know is that they will spend $360 million on improving top end pay for some teachers and $212 million on a roading boondoggle.  You would normally think that they would not allow the rump of a far right party to force through doctrinaire right wing policy but it has happened before.

Update:  ACT candidate Stephen Berry has provided me with some more details of the policy.

  • The cut in the first year will be to 20% at a cost of $3 billion.
  • The initial shortfall will be funded by further asset sales.
  • The 12.5% rate will not be reached until 2020 and they presume that the enhanced growth rate will fund this.

Still does not add up …

53 comments on “ACT’s voodoo economics ”

  1. Sacha 1

    Act are narcissitic nutjobs.
    Let’s leave talking about them for the 1% who benefit from their lunacy.

  2. Tamati 2

    Ironic that you have tax dodger Penny Bright in the photo!

  3. CC 3

    Isn’t this the sort of policy that did such magical things for the economy of Ireland that some financial genius by the name of Key rorted for a finance firm that went belly-up? Also, aren’t the Irish taxpayers still paying the debts they didn’t incur for this brilliant piece of economic theory? Perhaps someone with a superior and more detailed knowledge can fill in the blanks.

  4. Clemgeopin 4

    ACT’s economic maths is as bad as their selfish principles.

    The 1% ACT is putting on a small stupid act.
    ACT’s, master NATIONAL is putting on a bigger act!

    Vote the ACT fellow in Epsom=Get National and ACT=Self inflicted wound into our Nation.

    If I was there, I would watch which of the other candidates, Michael Wood (Lab),
    Paul Goldsmith (Nat), Julie Anne Gentre (Greens) or any other non ACT candidate is leading, and would give my electorate vote to THAT particular candidate. I suspect that would most likely be Goldsmith, the cunning reluctant very silent bride!

    Vote the National man, GOLDMITH in Epsom=Kick ACT and National out of Government! How cool is that!

    I think Whyte needs about three years of rest and uncontaminated quality time using his brain and conscience to carefully do some serious philosophical thinking about basic human needs and values.

  5. dave 5

    Michael Wood is far the best candate but we need to electrate vote gold smith to get rid of national

    • Gosman 5.1

      If Michael Wood is by far the best candidate why don’t people just vote for him?

      • Clemgeopin 5.1.1

        They will, if he has a good chance of winning. But when the enemy is indulging in dodgy shady stuff, people think smart and try to defeat such nefarious tactics. I am sure Key and Goldsmith will appreciate that.

        • Gosman 5.1.1.1

          Are you implying that Michael Wood is unable to convince enough National party supporters to vote for him?

          • Clemgeopin 5.1.1.1.1

            Will be very hard to do because lots of loyal Epsom National party supporters seem to be as obdurate as donkeys because even their own head hash honcho Key himself can’t even persuade them to vote for some low level ACT upstart anymore!

            Besides, Key has said that he himself will be voting for Goldsmith in Epsom! There you go!

  6. BLiP 6

    Given that ACT is a subsidiary of National Ltd™ I can’t see how the latter is escaping from any fall out from this sort of ‘dog-whistling’. Regardless of what John Key says in public about how atrocious ACT’s Maori bashing and randian economics is, National Ltd™ is still prepared to publicly twerk its way around MMP in order to accomodate such ideology. As my ole mum used to say, you can judge the character of a person by the company they keep.

    Steve Braunias nails it in his “ Secret Diary of Jamie Whyte . . .

    . . . [ ] . . “Well,” I [Whyte] said, “that got them talking!” He said, “I want you to know I really appreciate the perception it gives that ACT is extreme, and National is moderate.”

    “Please don’t slap my head,” I said.

    “I was just giving it a pat,” He said.

    The tea arrived. I said, “Shall we do welfare bashing next week? You hum it, and I’ll sing it!”

    He put the cups on their saucers, and passed the sugar. I said, “I wonder if it’s stopped raining.”

    He said, “Don’t open the curtains! Someone might see us.”

    He poured the tea.

    • Gosman 6.1

      Funnily enough Act is going to release a new policy on welfare reform shortly.

      • tricledrown 6.1.1

        goose welfare reform is ACT speak for CUTS $1.5 billion in cuts to welfare from the poorest to give to the richist, it will be regurgitated not new with Richard Pebble brain at the helm it will be old mutton dressed up as lamb.
        with a another sexual pervert Whyte racist supremacist nut job in charge.
        All the the company tax cuts we have had since the 1980s haven’t changed the unemployment figures yet.Its just a right wing con job!

      • Clemgeopin 6.1.2

        How nice! I will be looking forward to it. So will all the rich pricks, I am sure!

      • Weepus beard 6.1.3

        The reform being to abolish welfare completely?

        • vto 6.1.3.1

          Probably mr beard. These loonies on the far right for some reason think humans are solitary animals ……..

          cant see the evidence for it myself…

          every time I look humans seem to love being together and acting as a group…..

        • Tracey 6.1.3.2

          That is not new

          • Weepus beard 6.1.3.2.1

            It’s unbelievable that someone could come along and make fair minded Kiwis take another look at Colin Craig and think he’s not that bad, but Jamie Whyte has done it.

  7. Draco T Bastard 7

    The cuts are dramatic. The corporate tax rate would decrease from 0.28c in the dollar to 0.125c. My quick calculation is that this will reduce the tax take by about $5.5 billion. But ACT would have us believe that it will all be worth it.

    The idiots have been saying that sort of bollocks since the 19th century and it has never been as they say. Instead, countries end up going into even more debt to the rich and the banks to cover the deficit that they caused by cutting taxes. Then they demand that we cut services to live within our means while demanding that we make even bigger cuts to the taxes on the rich even more. Oh, and that we should sell our assets to the rich as well.

    The only place that Acts policies, that National really like as well, are going to take us is back to feudalism with a few people owning everything and everyone else living only at the pleasure of those owners.

    • Gosman 7.1

      Yet the size of government as a percentage of GDP has not really changed dramatically over the past few decades. In short government is still receiving and spending the same proportion of the economic wealth of the nation.

  8. Dialey 8

    Economics: An ancient form of mysticism not unlike Astrology, Voodoo, and Crystal Ball Gazing and having approximately the same predictive ability. John Maynard Keynes, perhaps the most celebrated economist in history, once said that “if all the economists of the world were laid end to end, they would not reach a conclusion.”

    “The modern conservative is engaged in one of man’s oldest exercises in moral philosophy: that is the search for a superior moral justification for selfishness.” – John Kenneth Galbraith

    “…free enterprise, a term that refers, in practice, to a system of public subsidy and private profit, with massive government intervention in the economy to maintain a welfare state for the rich.”  – Noam Chomsky

    For other pithy definitions go to: http://www.skeptic.ca/Curmudgeon_Business.htm

  9. joe90 9

    Same old Laffer claptrap.

    http://www.vox.com/2014/7/8/5868717/sam-brownback-kansas-tax-cut

    http://www.itep.org/debunkinglaffer/

    Conclusion
    Whether looking at income levels, unemployment rates, or economic
    output per person, states with “high rate” income taxes have economies
    that equal or surpass those in states lacking an income tax. The
    most commonly cited analysis purporting to show the opposite

    http://www.itepnet.org/pdf/junkeconomics.pdf

  10. Jim in Tokyo 10

    From the Herald story announcing the policy:

    “In 1999, GDP per person was 25% higher in Australia than in New Zealand. Today it is 65% higher. No single measure could do more to promote the economic welfare of New Zealanders than cutting the company tax rate.”

    Last time I looked, the corporate tax rate in Australia was still 30%, and has been for a decade?

    It takes a specific kind of voodoo economist to deliver those lines in one breath without specific reference to Australia’s actual tax structure.

    How does Whyte manage to pass himself as an academic philosopher? The chump should have failed logic 101.

    • One Anonymous Bloke 10.1

      To pass as a philosopher he had to move to New Zealand and hope we wouldn’t notice he was lying about his credentials.

    • Tracey 10.2

      Gosman will be along to correct whytes wrong headed thinking.

      • Jim in Tokyo 10.2.1

        I’ve had a go at fixing up the flawed logic:

        “In 1999, GDP per person was 25% higher in Australia than in New Zealand. Today it is 65% higher. No single measure will close this gap completely, but a good start towards promoting the economic welfare of New Zealanders would be to raise the company tax rate to 30c in line with Australia and adopt a more steeply progressive individual tax curve by copying Australia’s generous $18,200 tax-free threshold and 45c top tax rate”

  11. Clemgeopin 11

    Along with all the other extremist ACT policies, today’s policy is another one that does not add up! I wonder if the Epsom voters are smart enough to think through all this, including who to vote for when they are so spoiled for choice with lots of cats and some dogs, some rich pricks and ordinary folk as their electorate candidates, some with strong coat tails, some with long legs and huge ear rings, and some with the smell of an oily rag. I am glad that Key and Harre are voting for Goldsmith!

    Here is a special dedication to EPSOM. Enjoy!
    https://www.youtube.com/watch?v=kfNl0uEPU1M

  12. RedbaronCV 12

    And the main benenficiary of this rate is overseas owners who take the profits offshore.
    Locally owned companies eventually , to get the money out, wind up paying tax at individual or trust rates.
    Overseas owned compnaies just send a minimally taxed dividend offshore.

    • Draco T Bastard 12.1

      Dividends needs to be taxed the same as personal income. If that means that foreign shareholders in NZ companies have an IRD number so that they can be taxed correctly then so be it.

  13. tricledrown 13

    Gooseman where is ACTs Whytes evidence (its non existant Goosy provide the evidence instead of regurgitating the pure voodoo BS because you can’t read and study economics you can only read the ACT propaganda headlines) because of all the economic studies I have read and that is 20 or 30 times more than Richard Pebble brain Jamie Whyte and your self combined their is absolutely no peer reviewed evidence that backs ACT bullshit economics quite the reverse GOOSEMAN.
    States of the United States that have low taxes have the highest unemployment highest rates of poverty lowest economic growth poorest infrstucture, while States of the United States that have high taxes have the lowest unemployment lowest rates of poverty and highest economic growth.
    The higher Taxed States can afford to invest in education , research and development , quality infrastructure, while low tax states which leave it to the free market to invest wisely with their taxes they don’t pay fail to see the long term benefits of research and development no or crumbling infrastructure (IE 70,000 bridges need replacing) and cheap education etc .
    You end up with the Lada economy cheap and nasty if you want your economy to grow you have to invest heavily companies are risk averse and pay dividends for short term gain so over the long term dividends decline the business fails to adapt because it is purely focused on profits!
    While govts that invest in good research infrastructure and education capability help take the risk fear away from companies !

  14. Cancerman 14

    Mickey you need to put a $ in front of those tax rates or remove the decimal place. It’s incorrect otherwise and arguably misleading.

  15. Th 15

    ” ACT says it can boost economic growth by a third with a policy to cut the company tax rate to 12.5 per cent. Leader Jamie Whyte says this will increase investment, and job and GDP by one third, leading to higher wages………………………………………..Company tax is a “terrible drag” on growth and wages while raising “relatively little” revenue, he argued. ”

    So how does the tax be a “terrible drag” when raising “relatively little” revenue?

    I would think that a tax that was a “terrible drag” would mess with investment decisions due to the massive transfer of funds from company coffers to the Inland Revenue coffers.

    Wouldnt it?

  16. Gareth 16

    If his asserted benefits were actually true, then surely we should abolish the company tax rate altogether. Then we’d achieve a living wage without needing any other legislation to mandate it and our economic growth rate would be through the roof.

    I wish he’d explain what’s stopping him from realising the greatest gains for ordinary NZers and advocate half measures instead.

  17. Tracey 17

    what assets will they sell?

    • Gosman 17.1

      Some or all of the billions of dollars of commercial assets that the State has a controlling interest in.

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    PunditBy Brian Easton
    4 days ago
  • Elections in Russia and Ukraine
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    4 days ago
  • Bernard’s six stack of substacks at 6pm on March 15
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    The KakaBy Bernard Hickey
    4 days ago
  • Buzz from the Beehive Finance Minister Nicola Willis had plenty to say when addressing the Auckland Business Chamber on the economic growth that (she tells us) is flagging more than we thought. But the government intends to put new life into it:  We want our country to be a ...
    Point of OrderBy Bob Edlin
    4 days ago
  • National’s clean car tax advances
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    No Right TurnBy Idiot/Savant
    4 days ago
  • Government funding bailouts
    Peter Dunne writes – This week’s government bailout – the fifth in the last eighteen months – of the financially troubled Ruapehu Alpine Lifts company would have pleased many in the central North Island ski industry. The government’s stated rationale for the $7 million funding was that it ...
    Point of OrderBy poonzteam5443
    4 days ago
  • Two offenders, different treatments.
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    KiwipoliticoBy Pablo
    4 days ago
  • Treaty references omitted
    Ele Ludemann writes  – The government is omitting general Treaty references from legislation : The growth of Treaty of Waitangi clauses in legislation caused so much worry that a special oversight group was set up by the last Government in a bid to get greater coherence in the public service on Treaty ...
    Point of OrderBy poonzteam5443
    4 days ago
  • The Ghahraman Conflict
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    Point of OrderBy poonzteam5443
    4 days ago
  • Bernard's Top 10 @ 10 'pick 'n' mix' for March 15
    TL;DR: My top 10 news and analysis links this morning include:Today’s must-read: Climate Scorpion – the sting is in the tail. Introducing planetary solvency. A paper via the University of Exeter’s Institute and Faculty of Actuaries.Local scoop: Kāinga Ora starts pulling out of its Auckland projects and selling land RNZ ...
    The KakaBy Bernard Hickey
    5 days ago
  • The day Wellington up-zoned its future
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    The KakaBy Bernard Hickey
    5 days ago
  • Weekly Roundup 15-March-2024
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    Greater AucklandBy Greater Auckland
    5 days ago
  • That Word.
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    Nick’s KōreroBy Nick Rockel
    5 days ago
  • The Hoon around the week to March 15
    Photo: Lynn Grieveson / The KākāTL;DR: The five things that mattered in Aotearoa’s political economy that we wrote and spoke about via The Kākā and elsewhere for paying subscribers in the last week included:PM Christopher Luxon said the reversal of interest deductibility for landlords was done to help renters, who ...
    The KakaBy Bernard Hickey
    5 days ago
  • Labour’s policy gap
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    PolitikBy Richard Harman
    5 days ago
  • Skeptical Science New Research for Week #11 2024
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    5 days ago
  • Melissa remains mute on media matters but has something to say (at a sporting event) about economic ...
     Buzz from the Beehive   The text reproduced above appears on a page which records all the media statements and speeches posted on the government’s official website by Melissa Lee as Minister of Media and Communications and/or by Jenny Marcroft, her Parliamentary Under-secretary.  It can be quickly analysed ...
    Point of OrderBy Bob Edlin
    5 days ago
  • The return of Muldoon
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    No Right TurnBy Idiot/Savant
    5 days ago
  • Will the rental tax cut improve life for renters or landlords?
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    Point of OrderBy poonzteam5443
    5 days ago
  • Geoffrey Miller: What Saudi Arabia’s rapid changes mean for New Zealand
    Saudi Arabia is rarely far from the international spotlight. The war in Gaza has brought new scrutiny to Saudi plans to normalise relations with Israel, while the fifth anniversary of the controversial killing of Jamal Khashoggi was marked shortly before the war began on October 7. And as the home ...
    Democracy ProjectBy Geoffrey Miller
    5 days ago
  • Racism’s double standards
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    Point of OrderBy poonzteam5443
    5 days ago
  • It’s not a tax break
    Ele Ludemann writes – Contrary to what many headlines and news stories are saying, residential landlords are not getting a tax break. The government is simply restoring to them the tax deductibility of interest they had until the previous government removed it. There is no logical reason ...
    Point of OrderBy poonzteam5443
    5 days ago
  • The Plastic Pig Collective and Chris' Imaginary Friends.
    I can't remember when it was goodMoments of happiness in bloomMaybe I just misunderstoodAll of the love we left behindWatching our flashbacks intertwineMemories I will never findIn spite of whatever you becomeForget that reckless thing turned onI think our lives have just begunI think our lives have just begunDoes anyone ...
    Nick’s KōreroBy Nick Rockel
    5 days ago
  • Who is responsible for young offenders?
    Michael Bassett writes – At first reading, a front-page story in the New Zealand Herald on 13 March was bizarre. A group of severely intellectually limited teenagers, with little understanding of the law, have been pleading to the Justice Select Committee not to pass a bill dealing with ram ...
    Point of OrderBy poonzteam5443
    5 days ago
  • Gordon Campbell on National’s fantasy trip to La La Landlord Land
    How much political capital is Christopher Luxon willing to burn through in order to deliver his $2.9 billion gift to landlords? Evidently, Luxon is: (a) unable to cost the policy accurately. As Anna Burns-Francis pointed out to him on Breakfast TV, the original ”rock solid” $2.1 billion cost he was ...
    5 days ago
  • Bernard's Top 10 @ 10 'pick 'n' mix' for March 14
    TL;DR: My top 10 news and analysis links this morning include:Today’s must-read: Jonathon Porritt calling bullshit in his own blog post on mainstream climate science as ‘The New Denialism’.Local scoop: The Wellington City Council’s list of proposed changes to the IHP recommendations to be debated later today was leaked this ...
    The KakaBy Bernard Hickey
    6 days ago
  • No, Prime Minister, rents don’t rise or fall with landlords’ costs
    TL;DR: Prime Minister Christopher Luxon said yesterday tenants should be grateful for the reinstatement of interest deductibility because landlords would pass on their lower tax costs in the form of lower rents. That would be true if landlords were regulated monopolies such as Transpower or Auckland Airport1, but they’re not, ...
    The KakaBy Bernard Hickey
    6 days ago
  • Cartoons: ‘At least I didn’t make things awkward’
    This is a re-post from Yale Climate Connections by Tom Toro Tom Toro is a cartoonist and author. He has published over 200 cartoons in The New Yorker since 2010. His cartoons appear in Playboy, the Paris Review, the New York Times, American Bystander, and elsewhere. Related: What 10 EV lovers ...
    6 days ago
  • Solving traffic congestion with Richard Prebble
    The business section of the NZ Herald is full of opinion. Among the more opinionated of all is the ex-Minister of Transport, ex-Minister of Railways, ex MP for Auckland Central (1975-93, Labour), Wellington Central (1996-99, ACT, then list-2005), ex-leader of the ACT Party, uncle to actor Antonia, the veritable granddaddy ...
    Greater AucklandBy Patrick Reynolds
    6 days ago
  • I Think I'm Done Flying Boeing
    Hi,Just quickly — I’m blown away by the stories you’ve shared with me over the last week since I put out the ‘Gary’ podcast, where I told you about the time my friend’s flatmate killed the neighbour.And you keep telling me stories — in the comments section, and in my ...
    David FarrierBy David Farrier
    6 days ago
  • Invoking Aristotle: Of Rings of Power, Stones, and Ships
    The first season of Rings of Power was not awful. It was thoroughly underwhelming, yes, and left a lingering sense of disappointment, but it was more expensive mediocrity than catastrophe. I wrote at length about the series as it came out (see the Review section of the blog, and go ...
    6 days ago
  • Van Velden brings free-market approach to changing labour laws – but her colleagues stick to distr...
    Buzz from the Beehive Workplace Relations and Safety Minister Brooke van Velden told Auckland Business Chamber members they were the first audience to hear her priorities as a minister in a government committed to cutting red tape and regulations. She brandished her liberalising credentials, saying Flexible labour markets are the ...
    Point of OrderBy Bob Edlin
    6 days ago
  • Why Newshub failed
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    Point of OrderBy poonzteam5443
    6 days ago
  • Māori Party on the warpath against landlords and seabed miners – let’s see if mystical creature...
    Bob Edlin writes  –  The Māori Party has been busy issuing a mix of warnings and threats as its expresses its opposition to interest deductibility for landlords and the plans of seabed miners. It remains to be seen whether they  follow the example of indigenous litigants in Australia, ...
    Point of OrderBy Bob Edlin
    6 days ago

  • Government moves to quickly ratify the NZ-EU FTA
    "The Government is moving quickly to realise an additional $46 million in tariff savings in the EU market this season for Kiwi exporters,” Minister for Trade and Agriculture, Todd McClay says. Parliament is set, this week, to complete the final legislative processes required to bring the New Zealand – European ...
    BeehiveBy beehive.govt.nz
    5 hours ago
  • Positive progress for social worker workforce
    New Zealand’s social workers are qualified, experienced, and more representative of the communities they serve, Social Development and Employment Minister Louise Upston says. “I want to acknowledge and applaud New Zealand’s social workers for the hard work they do, providing invaluable support for our most vulnerable. “To coincide with World ...
    BeehiveBy beehive.govt.nz
    10 hours ago
  • Minister confirms reduced RUC rate for PHEVs
    Cabinet has agreed to a reduced road user charge (RUC) rate for plug-in hybrid electric vehicles (PHEVs), Transport Minister Simeon Brown says. Owners of PHEVs will be eligible for a reduced rate of $38 per 1,000km once all light electric vehicles (EVs) move into the RUC system from 1 April.  ...
    BeehiveBy beehive.govt.nz
    12 hours ago
  • Trade access to overseas markets creates jobs
    Minister of Agriculture and Trade, Todd McClay, says that today’s opening of Riverland Foods manufacturing plant in Christchurch is a great example of how trade access to overseas markets creates jobs in New Zealand.  Speaking at the official opening of this state-of-the-art pet food factory the Minister noted that exports ...
    BeehiveBy beehive.govt.nz
    13 hours ago
  • NZ and Chinese Foreign Ministers hold official talks
    Minister of Foreign Affairs Winston Peters met with Chinese Foreign Minister Wang Yi in Wellington today. “It was a pleasure to host Foreign Minister Wang Yi during his first official visit to New Zealand since 2017. Our discussions were wide-ranging and enabled engagement on many facets of New Zealand’s relationship with China, including trade, ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Kāinga Ora instructed to end Sustaining Tenancies
    Kāinga Ora – Homes & Communities has been instructed to end the Sustaining Tenancies Framework and take stronger measures against persistent antisocial behaviour by tenants, says Housing Minister Chris Bishop. “Earlier today Finance Minister Nicola Willis and I sent an interim Letter of Expectations to the Board of Kāinga Ora. ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Speech to Auckland Business Chamber: Growth is the answer
    Tēna koutou katoa. Greetings everyone. Thank you to the Auckland Chamber of Commerce and the Honourable Simon Bridges for hosting this address today. I acknowledge the business leaders in this room, the leaders and governors, the employers, the entrepreneurs, the investors, and the wealth creators. The coalition Government shares your ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Singapore rounds out regional trip
    Minister Winston Peters completed the final leg of his visit to South and South East Asia in Singapore today, where he focused on enhancing one of New Zealand’s indispensable strategic partnerships.      “Singapore is our most important defence partner in South East Asia, our fourth-largest trading partner and a ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Minister van Velden represents New Zealand at International Democracy Summit
    Minister of Internal Affairs and Workplace Relations and Safety, Hon. Brooke van Velden, will travel to the Republic of Korea to represent New Zealand at the Third Summit for Democracy on 18 March. The summit, hosted by the Republic of Korea, was first convened by the United States in 2021, ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Insurance Council of NZ Speech, 7 March 2024, Auckland
    ICNZ Speech 7 March 2024, Auckland  Acknowledgements and opening  Mōrena, ngā mihi nui. Ko Andrew Bayly aho, Nor Whanganui aho.  Good morning, it’s a privilege to be here to open the ICNZ annual conference, thank you to Mark for the Mihi Whakatau  My thanks to Tim Grafton for inviting me ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Five-year anniversary of Christchurch terror attacks
    Prime Minister Christopher Luxon and Lead Coordination Minister Judith Collins have expressed their deepest sympathy on the five-year anniversary of the Christchurch terror attacks. “March 15, 2019, was a day when families, communities and the country came together both in sorrow and solidarity,” Mr Luxon says.  “Today we pay our respects to the 51 shuhada ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Speech for Financial Advice NZ Conference 5 March 2024
    Speech for Financial Advice NZ Conference 5 March 2024  Acknowledgements and opening  Morena, Nga Mihi Nui.  Ko Andrew Bayly aho, Nor Whanganui aho. Thanks Nate for your Mihi Whakatau  Good morning. It’s a pleasure to formally open your conference this morning. What a lovely day in Wellington, What a great ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Early visit to Indonesia strengthens ties
    Foreign Minister Winston Peters held discussions in Jakarta today about the future of relations between New Zealand and South East Asia’s most populous country.   “We are in Jakarta so early in our new government’s term to reflect the huge importance we place on our relationship with Indonesia and South ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • China Foreign Minister to visit
    Deputy Prime Minister and Minister of Foreign Affairs Winston Peters has announced that the Foreign Minister of China, Wang Yi, will visit New Zealand next week.  “We look forward to re-engaging with Foreign Minister Wang Yi and discussing the full breadth of the bilateral relationship, which is one of New Zealand’s ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Minister opens new Auckland Rail Operations Centre
    Transport Minister Simeon Brown has today opened the new Auckland Rail Operations Centre, which will bring together KiwiRail, Auckland Transport, and Auckland One Rail to improve service reliability for Aucklanders. “The recent train disruptions in Auckland have highlighted how important it is KiwiRail and Auckland’s rail agencies work together to ...
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    5 days ago
  • Celebrating 10 years of Crankworx Rotorua
    The Government is proud to support the 10th edition of Crankworx Rotorua as the Crankworx World Tour returns to Rotorua from 16-24 March 2024, says Minister for Economic Development Melissa Lee.  “Over the past 10 years as Crankworx Rotorua has grown, so too have the economic and social benefits that ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Government delivering on tax commitments
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    BeehiveBy beehive.govt.nz
    5 days ago
  • Significant Natural Areas requirement to be suspended
    Associate Environment Minister Andrew Hoggard has today announced that the Government has agreed to suspend the requirement for councils to comply with the Significant Natural Areas (SNA) provisions of the National Policy Statement for Indigenous Biodiversity for three years, while it replaces the Resource Management Act (RMA).“As it stands, SNAs ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Government classifies drought conditions in Top of the South as medium-scale adverse event
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    5 days ago
  • Government partnership to tackle $332m facial eczema problem
    The Government is helping farmers eradicate the significant impact of facial eczema (FE) in pastoral animals, Agriculture Minister Todd McClay announced.  “A $20 million partnership jointly funded by Beef + Lamb NZ, the Government, and the primary sector will save farmers an estimated NZD$332 million per year, and aims to ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • NZ, India chart path to enhanced relationship
    Foreign Minister Winston Peters has completed a successful visit to India, saying it was an important step in taking the relationship between the two countries to the next level.   “We have laid a strong foundation for the Coalition Government’s priority of enhancing New Zealand-India relations to generate significant future benefit for both countries,” says Mr Peters, ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Ruapehu Alpine Lifts bailout the last, say Ministers
    Cabinet has agreed to provide $7 million to ensure the 2024 ski season can go ahead on the Whakapapa ski field in the central North Island but has told the operator Ruapehu Alpine Lifts it is the last financial support it will receive from taxpayers. Cabinet also agreed to provide ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Govt takes action to drive better cancer services
    Health Minister Dr Shane Reti says the launch of a new mobile breast screening unit in Counties Manukau reinforces the coalition Government’s commitment to drive better cancer services for all New Zealanders. Speaking at the launch of the new mobile clinic, Dr Reti says it’s a great example of taking ...
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    6 days ago
  • Govt takes action to drive better cancer services
    Health Minister Dr Shane Reti says the launch of a new mobile breast screening unit in Counties Manukau reinforces the coalition Government’s commitment to drive better cancer services for all New Zealanders. Speaking at the launch of the new mobile clinic, Dr Reti says it’s a great example of taking ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Work begins on SH29 upgrades near Tauriko
    Unlocking economic growth and land for housing are critical elements of the Government’s plan for our transport network, and planned upgrades to State Highway 29 (SH29) near Tauriko will deliver strongly on those priorities, Transport Minister Simeon Brown says. “The SH29 upgrades near Tauriko will improve safety at the intersections ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Work begins on SH29 upgrades near Tauriko
    Unlocking economic growth and land for housing are critical elements of the Government’s plan for our transport network, and planned upgrades to State Highway 29 (SH29) near Tauriko will deliver strongly on those priorities, Transport Minister Simeon Brown says. “The SH29 upgrades near Tauriko will improve safety at the intersections ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Fresh produce price drop welcome
    Lower fruit and vegetable prices are welcome news for New Zealanders who have been doing it tough at the supermarket, Finance Minister Nicola Willis says. Stats NZ reported today the price of fruit and vegetables has dropped 9.3 percent in the 12 months to February 2024.  “Lower fruit and vege ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Statement to the 68th United Nations Commission on the Status of Women
    Tēnā koutou katoa and greetings to you all.  Chair, I am honoured to address the sixty-eighth session of the Commission on the Status of Women. I acknowledge the many crises impacting the rights of women and girls. Heightened global tensions, war, climate related and humanitarian disasters, and price inflation all ...
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    6 days ago
  • Speech to the 68th United Nations Commission on the Status of Women (CSW68)
    Tēnā koutou katoa and greetings to you all.  Chair, I am honoured to address the 68th session of the Commission on the Status of Women. I acknowledge the many crises impacting the rights of women and girls. Heightened global tensions, war, climate related and humanitarian disasters, and price inflation all ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Government backs rural led catchment projects
    The coalition Government is supporting farmers to enhance land management practices by investing $3.3 million in locally led catchment groups, Agriculture Minister Todd McClay announced. “Farmers and growers deliver significant prosperity for New Zealand and it’s vital their ongoing efforts to improve land management practices and water quality are supported,” ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Speech to Auckland Business Chamber
    Good evening everyone and thank you for that lovely introduction.   Thank you also to the Honourable Simon Bridges for the invitation to address your members. Since being sworn in, this coalition Government has hit the ground running with our 100-day plan, delivering the changes that New Zealanders expect of us. ...
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    1 week ago
  • Commission’s advice on ETS settings tabled
    Recommendations from the Climate Change Commission for New Zealand on the Emissions Trading Scheme (ETS) auction and unit limit settings for the next five years have been tabled in Parliament, Climate Change Minister Simon Watts says. “The Commission provides advice on the ETS annually. This is the third time the ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Government lowering building costs
    The coalition Government is beginning its fight to lower building costs and reduce red tape by exempting minor building work from paying the building levy, says Building and Construction Minister Chris Penk. “Currently, any building project worth $20,444 including GST or more is subject to the building levy which is ...
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    1 week ago
  • Trustee tax change welcomed
    Proposed changes to tax legislation to prevent the over-taxation of low-earning trusts are welcome, Finance Minister Nicola Willis says. The changes have been recommended by Parliament’s Finance and Expenditure Committee following consideration of submissions on the Taxation (Annual Rates for 2023–24, Multinational Tax, and Remedial Matters) Bill. “One of the ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Minister’s Ramadan message
    Assalaamu alaikum. السَّلَام عليكم In light of the holy month of Ramadan, I want to extend my warmest wishes to our Muslim community in New Zealand. Ramadan is a time for spiritual reflection, renewed devotion, perseverance, generosity, and forgiveness.  It’s a time to strengthen our bonds and appreciate the diversity ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Minister appoints new NZTA Chair
    Former Transport Minister and CEO of the Auckland Business Chamber Hon Simon Bridges has been appointed as the new Board Chair of the New Zealand Transport Agency (NZTA) for a three-year term, Transport Minister Simeon Brown announced today. “Simon brings extensive experience and knowledge in transport policy and governance to the role. He will ...
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    1 week ago
  • Speech to Life Sciences Summit
    Good morning all, it is a pleasure to be here as Minister of Science, Innovation and Technology.  It is fantastic to see how connected and collaborative the life science and biotechnology industry is here in New Zealand. I would like to thank BioTechNZ and NZTech for the invitation to address ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Progress continues apace on water storage
    Regional Development Minister Shane Jones says he is looking forward to the day when three key water projects in Northland are up and running, unlocking the full potential of land in the region. Mr Jones attended a community event at the site of the Otawere reservoir near Kerikeri on Friday. ...
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    1 week ago
  • Government agrees to restore interest deductions
    Associate Finance Minister David Seymour has today announced that the Government has agreed to restore deductibility for mortgage interest on residential investment properties. “Help is on the way for landlords and renters alike. The Government’s restoration of interest deductibility will ease pressure on rents and simplify the tax code,” says ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Minister to attend World Anti-Doping Agency Symposium
    Sport and Recreation Minister Chris Bishop will travel to Switzerland today to attend an Executive Committee meeting and Symposium of the World Anti-Doping Agency (WADA). Mr Bishop will then travel on to London where he will attend a series of meetings in his capacity as Infrastructure Minister. “New Zealanders believe ...
    BeehiveBy beehive.govt.nz
    1 week ago

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