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All hail RBNZ independence! – Armstrong

Written By: - Date published: 10:32 am, October 5th, 2013 - 94 comments
Categories: capitalism, exports, housing, monetary policy - Tags:

Old man Armstrong’s out on the Herald’s front lawn this morning, shaking his fist and telling those bloody kids in Labour to stop questioning whether the Reserve Bank is doing the right thing. They should sit quietly and accept whatever the Bank decides to do. This is called ‘consensus’, apparently. Problem is, Armstrong provides no justification for complete RB independence.

His entire argument is: it’s been that way for 20 years so it must continue to be that way forever, regardless of whether it works or not. He says:

“With Labour also committed to making the Reserve Bank take heed of exchange rate fluctuations, Cunliffe has to avoid leaving the impression that Labour’s answer to every economic problem is to fiddle with the Reserve Bank’s mandate – and thereby neutering the institution in the process”

John, you’ve failed to make any argument as to why the Reserve Bank shouldn’t be neutered. Why should we all bow-down to the Reserve Bank like it’s some neoliberal god? Why is complete independence – a concept that’s only two decades old – sacrosanct?

Let’s face it, the Bank is a disaster. The two decades of the modern Reserve Bank have seen a string of housing bubbles, diving high-value exports due to a high dollar, high unemployment and low wage growth, and rising international debt. Not only failed to fix these problems, it’s made them worse.

It’s prime tool is the OCR. Even working perfectly, the OCR works by punishing every mortgage holder and business in the country with higher interest rates when inflation goes up, whether or not the punished sector is at fault.

But, in reality, the OCR has the most impact on the economy via the exchange rate – ie. when housing gets out of control, the RB raises the OCR, which forces interest rates up, which attracts hot money from overseas boosting the exchange rate and strangling our exporters. Ironically, this just brings in more cheap credit from overseas to fund the housing bubble. For a decade now, we have had some of the highest interest rates in the developed world leading to a near-permanently over-valued dollar, and it’s killing the economy without fixing the housing bubble.

When the Bank, finally, tried to add a new tool, LVRs, it stuffed up by punishing first home buyers the most. Sensible tweaks, like excluding first home buyers (easily done as it’s already done for the Kiwisaver deposit subsidy) and limiting LVRs to problem housing markets were ignored in favour of blanket punishment.

So, what has the Bank done to earn a free-pass from every government to do whatever the hell it likes? As far as I can see, all its done in its 20 years of independence is kill our exporting industry, help us rack up massive foreign debt, and failed to tackle successive housing bubbles.

But no, Armstrong says that Labour should just keep quiet. “some kind of consensus between the two main parties would be of considerable assistance to the Reserve Bank if they stopped questioning its efforts to cool a dangerously overheated property market as it sees fit”. His argument would be a lot stronger if he wasn’t arguing for a failed institution to be allowed to continue to make mistakes in peace.

94 comments on “All hail RBNZ independence! – Armstrong”

  1. ianmac 1

    Didn’t Winston get into trouble a decade or so ago for advocating Reserve Bank Reform?

  2. Bill 2

    That ‘independence’ is merely an extension of international financial institutions into national political spheres. There is and has been nothing ‘independent’ about any of these reserve banks that governments relinquished control over through the 80s and whenever.

    And there’s been no accountability either. Which is great for the international and anti-democratic institutions who’s prescriptions ‘independent’ reserve banks follow.

  3. Colonial Viper 3

    Armstrong is WAAAY out of his depth. Globally, “reserve bank independence” has ushered in a period of massive financial system instability, asset price bubbles, and global financialisation. It has not been a good period for 80% of NZers.

    Further, we should note that direct market intervention, something that central banks never anticipated doing as part of their role, is now and every day occurrence in Japan, USA, China, UK, Eurozone.

    Add to that the fact that our Reserve Bank is a proponent of macro-economic theories which are highly flawed and largely based on the neo-lib assumptions of market equilibrium and market efficiency, and Armstrong proves that he is two or three decades out of date.

    And stop talking to your Reserve Bank contacts, John. They are as out of date as you are.

    • Rogue Trooper 3.1

      where President Xi Jinping and the Beijing government goes, investment flows.
      (maybe we could start our own newspaper and clear a few trees).

    • Saarbo 3.2

      +1

      “But, in reality, the OCR has the most impact on the economy via the exchange rate – ie. when housing gets out of control, the RB raises the OCR, which forces interest rates up, which attracts hot money from overseas boosting the exchange rate and strangling our exporters. Ironically, this just brings in more cheap credit from overseas to fund the housing bubble. ”

      This quote from “Eddies” article is spot on the mark, but I guess Armstrong has never worked for an export company which has had to close down plants and make people redundant because export volume has disappeared due to the exchange rate. I worked for a business in the early 2000′s that was exporting manufactured product to China and Taiwan. This same manufacturing business is now struggling to compete against cheap $US denominated imports in its own domestic market.

  4. tc 4

    Oh dear, grandad has a rant about the good old days. Reserve bank govenors are appointed by political parties arent they and treasury is full of nat contractors with a former analyst as our finance minister.

    Go back to your quill and pen some more archaic thinking grandad, we expect no less.

    • I should point out that until very recently, Treasury was actually run by a Labour supporter, so it’s not really about what party affiliations the staff have, it’s about the neoliberal, pro-Trade Anarchy (as opposed to fair trade) culture that Treasury has.

      We shouldn’t be opposed to sound budget advice, but it should use more realistic assumptions and not have a practical rather than ideological culture. Treasury should be about evidence and results, not about economic dogma.

      • Finbar 4.1.1

        Matthew,its about value and what you value your being.They say, that if you have a home that you wish to own,in the main centers,where the jobs are, you have to be scratching 80 thousand to service your 30 year debt,on a 400 thousand debt,and after your service, would make your ownership and its service, to afford one of those flash boats in the harbour for your house value.They say that if this unregulated cat gets his way,your mortgage for your 400,000. debt will increase by $340 per week with a eight per cent loan rate.But hey,capitals rules always profits no matter the damage.

        • Rogue Trooper 4.1.1.1

          if interest rates rise to the 8% forecast by the end of 2015, a mortgage on a ‘typical’ 400+K initial home is likely to rise $400 / month; some will go to the wall.

          • Colonial Viper 4.1.1.1.1

            many will go to the wall, including the negatively geared types.

            And it’s not going to go to 8% that is BS. ZIRP is here to stay. If the retail banks want to push mortgage rates up to 8%, the Government will intervene through Kiwibank and re-finance it all back to 6.75%. And still make a killing for the tax payer.

      • Draco T Bastard 4.1.2

        We shouldn’t be opposed to sound budget advice,

        Which you can’t possibly get from Treasury because of their adherence to the neo-liberal paradigm.

  5. rhinocrates 5

    Armstrong would be out of his depth in a puddle.

    • ghostwhowalksnz 5.1

      The crazy part of Armstrongs claims is the RBNZ Act , allows such policy fiddles!

      “The Reserve Bank Act requires that price stability be defined in a specific and public contract, negotiated between the government and the Reserve Bank. This is called the Policy Targets Agreement (PTA). The current PTA, signed in September 2012,….”

      I think every new government gets its own PTA, and its revised as a matter of course every few years

      http://www.rbnz.govt.nz/monetary_policy/policy_targets_agreement/

      So its fair to say the RBNZ is independent only in the sense of meeting the government of the days targets

  6. greywarbler 6

    The Reserve Bank is independent – of what or whom? When it was first touted it was the general idea that politicians were the most powerful and likely to interfere with personal agendas in the proper controlling of the economy on behalf of an enterprising economy run to high standards of business nous and regulation. So far so good. When inflation controls using high interest rates in the 1980′s took house interest to 18 % it was horrific. The Reserve Bank instructed to keep inflation to near zero, also had disastrous effects. Now interest rates are set at a reasonable rate but RB is trying to use inflationary controls on interest rates for housing which is I think, not included in the Consumer Price Index calculations. And it will upset the healthy earning part of our economy, encouraging higher foreign speculation from those drawing on low-rate USA capital to place it in NZ currency and get the easy middleman profit.

    This unwillingness to control housing inflation, and to look squarely at the cause is part of inadequate aspects of systems in our economy. making easy profits because of the high capital rise (up 7% since August in Auckland I heard someone say this week on radionz),

    Now we know that politicians are happy to give up their power and control levers, for payments or ‘free’ gifts that seem satisfactory to them. The Reserve Bank operates to a recipe provided for cooking for mass catering for hundreds of millions, and we end up with a lot of wasted resource that does not reach the home table.

    Someone mentioned that the new chap after Alan Bollard would be more conservative than him. Apparently that means that he and his team spend all their time in a bunker deep under the capital where they can get clear communication lines to their core source of thought. And they hardly have to go up into the real world at all. Probably they are planning to build underground tunnels that financial workers can walk along as the oil-rich companies in I think Houston, Texas have done. They are air-conditioned so everyone can be really cool when the heat is on at the surface.

    A British speaker on radionz this morning Dame Margaret Drabble expressed bewilderment and anxiety about how the financial forces seem to be uncontrollable there, no viable action can be taken to restrain and govern them, and their housing is rising unaffordably too. When all the housing will be out of ordinary people’s reach, there will be little activity in business as larger amounts of income go on housing and basics, and so the pirates trading in the other necessities for life, food and water will cause the prices to go sky-high, and the mega corporates will fight
    over the spoils and make share raids on each other.

  7. Saarbo 7

    What are Armstrong’s credentials to make these claims? and how do they compare to David Cunliffe and David Parker’s credentials. (I guess what I’m trying to say is, what the f$%# does half arsed right wing NZ herald political commentator know about these things? Way out of his depth)

    • Draco T Bastard 7.1

      what the f$%# does half arsed right wing NZ herald political commentator know about these things?

      Just the slogans. He sure as hell doesn’t know anything about economics. Not that that’s surprising I suppose, neither do the economists.

    • Finbar 7.2

      Capital and its market value Saarbo,with its uncontroled usury.

  8. muzza 8

    Leaving aside Armstrong is simply an agent mouthpiece, seeking to cover up the deeds of his master primary financial tools BIS/FED/BoA/BoJ/RBNZ/BoI et al, it is likely that Armstrong has no idea about the global financial markets, and it is possible he is no longer writing his own articles, at all!

    Was there any mention of the Office Of Debt Management, which is the key interlink, unelected and unrestrained!

    Quite something that Kiwis are happy to parrot that “interest rates are sooo low”, yet still the highest in the western world, so there is little that joe kiwi will resist, nor bend over for!

    BTW – Interest rates and FX rates have been divorced for quite some period of time, so while it is true there is a correlation in local impacts by way of changes to the OCR, the NZD is manipulated independently to the OCR for a myriad of reasons!

    Top ten most traded currency for how long now, versus what ranking of global sized economy!

    Edit: Armstong calling for an end to the Red/Blue sham, with plea of a “grand coalition”, is about the only honest reference be had made of late!

    • Rogue Trooper 8.1

      Impressive, or Very Impressive?

      • Draco T Bastard 8.1.1

        The scary thing is that it’s actually true.

        • Rogue Trooper 8.1.1.1

          the picture went with a documentary on the bank’s production of money, yet I lost it’s location.

          • Draco T Bastard 8.1.1.1.1

            There’s a few such documentaries around now. Here’s a good page.

            The fact that the private banks create money ex nihilo is slowly becoming common knowledge. Once it does become common knowledge then we’ll have that revolution that Henry Ford predicted.

            • Colonial Viper 8.1.1.1.1.1

              To help people get their heads around the idea, thinking of banks creating bank deposits (instead of “creating money”) can be easier.

              Let’s say you take out a mortgage for $250,000 from Westpac. You now owe Westpac $250,000 (i.e. a promise to pay them $250,000 back plus fees plus interest etc.)

              Westpac electronically increments the value of your savings account upwards by $250,000.

              The Westpac balance sheet stays completely balanced: on the liabilities side is the extra $250K deposit they have generated for you. On the asset side is your promise to pay back the $250K debt you owe the bank.

            • Tamati 8.1.1.1.1.2

              The fractional reserve system is no big secret. Every economics 101 student has be taught it for the last 50 years!

              • Draco T Bastard

                Yep and it’s wrong.

                • Tamati

                  It’s a misconception that banks “create” money though. Most depositors know that the money they invest in a bank in lent out by the bank not stored in a Gringotts style vault under the ground. It’s not created, it’s just recognized in two places at once.

                  • Colonial Viper

                    Totally incorrect if you are talking about the major banks, and it fails to take into account the creation of the international central banking system.

                    In other words, banks no longer rely on depositors for funds day to day, especially when they have the Federal Reserve system.

                    Your comment is only correct for “savings and loans” or “building society” type institutions.

                    • Tamati

                      RBNZ requires all commercial banks to hold a certain amount of domestic deposits as a proportion of their balance sheet. Thus, if global credit markets shut down, our banks would still stay open. They do however bridge the savings/lending gap through international credit markets.

                    • Colonial Viper

                      You’re talking about the CFR (Core Funding Ratio). It’s a completely different concept to the idea of “reserves” as used in the outdated “fractional reserve banking” approach.

                      The fact that you have mixed this up suggests that your understanding of central banking regulation is not complete.

                    • Phil

                      CV,

                      Your comment is only correct for “savings and loans” or “building society” type institutions.

                      That’s incorrect.

                      The process, accounting treatment, and balance sheet outcome by which S&L’s, Building Societies, and Credit Unions, generate loans is exactly the same as the example you give above for Westpac. The outcome for “money” is fundamentally no different.

                      While it’s true to say that private banks ‘create’ money, it ignores that publicly owned banks, mututals, credit unions, and finance companies all engage in the same activity.

                    • Colonial Viper

                      While it’s true to say that private banks ‘create’ money, it ignores that publicly owned banks, mututals, credit unions, and finance companies all engage in the same activity.

                      Can you please provide a technical or textbook reference, author, or academic which/who describes the equivalence between bank activities in credit (or deposit) creation and say what a finance company or credit union does.

                      I don’t believe it to be the case at all and would like to know where you got the idea from.

                      My view is that finance companies eg. Hanover Finance, can only lend a dollar out to someone if they already have that dollar on hand to loan out i.e. no additional monies or deposit is created.

                    • Phil

                      Hi CV,

                      Can you please provide a technical or textbook reference, author, or academic which/who describes the equivalence between bank activities in credit (or deposit) creation and say what a finance company or credit union does.

                      Without wanting to be glib about it, the answer to that question is: any Accounting 101 textbook you choose to pick up.

                      It’s technically incorrect to say that banks ‘create money’. What they do, when making a loan to you or I, is record a series of accounting entires today that represent future commitments to repay a financial transaction. By international standards and convention (see the IMF’s Monetary and Financial Statistics Manual 2000) we choose to call those bank liabilities ‘money’ because of the connections those transactions have to other macro-economic variables like inflation, GDP, and the balance of payments.

                      To give you an example, lets say you started up a credit union with some of your own capital, and term deposits you got from the public. Your opening balance sheet might look like this:

                      Assets:
                      Cash $200

                      Liabilities:

                    • Phil

                      Gah – did my completed comment end up somewhere retrievable?

                      Sorry.

                    • Phil

                      Ok, lets try this again…

                      To give you an example, lets say you started up a credit union with some of your own capital and term deposits you got from the public. Your opening balance sheet might look like this:

                      Assets:
                      Cash $200

                      Liabilities:
                      Capital invested by owners $100
                      Term deposits from Public $100

                      In this example, your monetary liabilities (that is: funds that a depositor is able to withdraw to purchase a good or service) is $100. We’ll leave the RBNZ’s physical cash liability out of this, for simplicity.

                      Then you go and make a loan to a person who want to buy a house. You lend them $100, which they deposit into a transaction account with you while they’re awaiting house sale/settlement. Now your balance sheet is:

                      Assets:
                      Cash $200
                      Loans to borrowers $100

                      Liabilities:
                      Capital invested by owners $100
                      Term deposits from Public $100
                      Transaction deposit $100

                      Your monetary liabilities have doubled. There is now $200 that could be withdrawn and used for the purchase of goods and services. Total money supply, because of your lending, is now $200.

                      Next day, the borrower settles on the house purchase. They withdraw the cash and hand it over to the seller, who deposits the cash in a different bank.

                      Your balance sheet is now:
                      Assets:
                      Cash $100
                      Loans to borrowers $100

                      Liabilities:
                      Capital invested by owners $100
                      Term deposits from Public $100

                      BUT there is another financial institution that received the cash from the seller. Their balance sheet has an extra $100 in cash and $100 in deposit liabilities. Total money in this economy is STILL $200.

                      It doesn’t matter if the lending institution is a private bank, or a credit union, or a public bank, or a finance company. The accounting process which records the initiation of a loan creates liabilities and assets. The liabilities are identified as money solely because we have the ability to engage a third party in a transaction with them.

                    • Colonial Viper

                      Nah, but that’s not what happens in real life.

                      No one withdraws in cash the funds they receive from taking out a mortgage, in order to deposit those funds in the vendor’s bank account.

                      So using your example:

                      Let’s say the mortgagee needs a $500 loan (not a $100 loan) in order to buy the house they want. But the savings and loan style/credit union type institution has only $200 cash on hand. How does the institution manage that situation?

                      And let’s say that the mortgagee wants those funds, once they have been placed in their bank account, transferred over to the vendor’s account at a different institution in order to complete the sale and purchase of the house. And as I said, without walking the cash over to the other bank. How does the institution manage that situation?

                      It’s technically incorrect to say that banks ‘create money’.

                      Hey I’m quite happy to have a detailed discussion with you as to what counts as “money” and the hierarchy of what civilians usually consider as “money”, but that’s a whole different discussion.

                      Without wanting to be glib about it, the answer to that question is: any Accounting 101 textbook you choose to pick up.

                      What you’ve described are balance sheet operations. Yes that is accountancy 101.

                      What is not in accountancy 101 are the systems which enable deposit accounts accessible to the financial transaction and settlement system to be incremented or decremented in value. Neither you or I can start up a finance company or building society which has that system, even though you and I can start up an excel spreadsheet to show numbers moving around on a balance sheet.

                      So a bank creating deposits is not simply a balance sheet operation, although it has balance sheet implications.

                    • Phil

                      Nah, but that’s not what happens in real life.

                      No one withdraws in cash the funds they receive from taking out a mortgage, in order to deposit those funds in the vendor’s bank account.

                      A blog comment thread is not a particularly efficient way to get into a lot of detail about banking, so the example I described (using cash) was deliberately as simple as I could make it and still try to get the point across.

                      You could replace ‘cash’ in those examples with: electronic deposit with another bank; government bond; or any number of other “liquid assets” that might be held by a bank or credit union. The process would still hold true.

                      Additionally, the second balance sheet I wrote down isn’t usually visible to you or I as a borrower. In practice the bank would provide the borrower with a commitment to lend, and then transact straight from #1 to #3 instantaneously when the sale was settled. For the non-bankers that might have been reading that post, #2 helps to explain the logic of getting between those two balance sheets and how money gets created.

                      Let’s say the mortgagee needs a $500 loan (not a $100 loan) in order to buy the house they want. But the savings and loan style/credit union type institution has only $200 cash on hand. How does the institution manage that situation?

                      There are a few things that could happen, but firstly the CU or bank would acknowledge that it doesn’t have the funds available to make the loan and remain solvent – this is also connected to the (incorrect) temporal comment you made somewhere else in this thread.

                      But if the CU or bank really thinks that you’re a good customer and wants to lend you $500, then it has to do (again, simplified examples) one of two things:
                      1) get more term deposits from the public
                      2) issue a wholesale financial market instrument (e.g. a bond) that another bank or investor is willing to buy

                      In either case, the value of the banks liabilities increase (recognising the deposit or bond has to eventually be paid back) and assets increase (becuase they’ve received cash or some other kind of liquid asset) which they are then able to give you access to to make your purchase.

                      And let’s say that the mortgagee wants those funds, once they have been placed in their bank account, transferred over to the vendor’s account at a different institution in order to complete the sale and purchase of the house. And as I said, without walking the cash over to the other bank. How does the institution manage that situation?

                      In practice, all of these transactions happen via electronic payment systems. For example, you and I might make dozens of EFTPOS transactions during a day, which will inevitably be between our own bank account and accounts held by retailers with different banks. The banks (both for their own account and as an agent for other financial institutions that you have accounts with) keep track of all these different payments going back and forward, then settle the net amount with each other at the end of the day. They have funds available on hand (actually it’s a deposit with the RBNZ) that are debited and credited for this purpose.

                    • Phil

                      What is not in accountancy 101 are the systems which enable deposit accounts accessible to the financial transaction and settlement system to be incremented or decremented in value. Neither you or I can start up a finance company or building society which has that system, even though you and I can start up an excel spreadsheet to show numbers moving around on a balance sheet.

                      So a bank creating deposits is not simply a balance sheet operation, although it has balance sheet implications.

                      Do I, personally, have the technical skills to create bank or credit union systems and infrastructure?
                      No.

                      Could I register with the companies office and start a credit union or building society?
                      Yes.

                      Could I engage with the New Zealand Association of Credit Unions, who provide technical assistance to credit unions all around the country, and leverage off their skills and experience to support my start-up CU?
                      Yes.

                      Could I then take deposits from the public, lend to borrowers (managing the consequent credit and liquidity risks prudently) and in doing so create liabilities that would be recognised as money?
                      Absolutely.

                  • Draco T Bastard

                    No, the misconception is that banks loan out money that is deposited. If they did that then you wouldn’t be able to get the money back out after you deposited it because it would’ve been loaned out.

                    It’s not created, it’s just recognized in two places at once.

                    No, it’s created – go read the page I linked to above.

              • Paul

                Not sure Armstrong has a clue about economics.
                He should watch this film.
                Money as Debt.
                http://www.youtube.com/watch?v=jqvKjsIxT_8

              • Colonial Viper

                The fractional reserve system is no big secret. Every economics 101 student has be taught it for the last 50 years!

                The fractional reserve system has not been used in most parts of the world for up to a 100 years now. Hong Kong is one of the few countries which still uses it. You need to update yourself.

                • Tamati

                  It has been on this planet for the last few decades. What planet are you on?

                  • Draco T Bastard

                    The Fractional Reserve system is what is taught – it’s not how it works.

                    • Colonial Viper

                      DTB: correct. Fractional reserve banking theory is just one of many parts of business school education which is dead out of date.

                      Tamati as you are so confident: please name 5 countries which still use fractional reserve banking (as opposed to central reserve banking with flexible reserve limits).

                    • ghostwhowalksnz

                      Exactly.

                      Westpac first has to borrow the money from someone else, its depositors, overseas etc before it lends to you.

                    • Colonial Viper

                      Westpac first has to borrow the money from someone else, its depositors, overseas etc before it lends to you.

                      No, that is temporally inaccurate.

                      Westpac lends the money first and then looks for where to get it from later. In other words: the bank creates the deposit first, then looks for the reserves it needs afterwards.

                    • Tamati

                      Banks are constantly lending money and taking deposits. They don’t match an individual depositor with and individual lender. That’s why we have banks, to act as an intermediary between lenders and borrowers.

                      The banks simply maintain an appropriate reserve ratio by adjusting the amount they lend/receive.

                    • Colonial Viper

                      Just stop it mate. You are up to 100 years out of date. Listen the fuck up please.

                    • Draco T Bastard

                      Read the third paragraph.

                      I’ve already read it and I’ve done the university thing. Thankfully, I wasn’t so stupid as to continue to believe the myth.

                      How about you update yourself by reading all the information on this page and the accompanying pages and videos?

                    • Tamati

                      Clearly I hit a raw nerve! Calm down dear, it’s not like the banks are adding fluoride to our water or anything like that. Perhaps it’s the Auckland water that’s getting to my brain?

                    • Colonial Viper

                      Dr Steve Keen explains aspects of it for you Tamati, if you are interested.

                      http://www.businessspectator.com.au/article/2012/10/22/commodities/myth-money-multiplier?OpenDocument=&emcontent_spectators=

                      Clearly I hit a raw nerve! Calm down dear,

                      Take some responsibility and stop parroting out of date theories, and now also acting like a condescending prick.

                    • Read the talk page, Tamati. A few ill-informed users are keeping dumb statements like the one you quoted on that arcticle by edit-trolling it, wheras it doesn’t really accurately reflect economic theory from either the Right or the Left.

                    • Tamati

                      No I don’t have half a day to read all that.

                      Steve Keen, is a pretty radical economist. Hardly inline with mainstream thinking. Perhaps he’s right and the business schools are all wrong, and the fluoride action network is right and the Dental schools are wrong.

                      Regardless, Labour won’t change that RBNZ, all they’ll do is make them consider unemployment when setting the OCR.

                    • Colonial Viper

                      No I don’t have half a day to read all that.

                      Steve Keen, is a pretty radical economist. Hardly inline with mainstream thinking. Perhaps he’s right and the business schools are all wrong

                      1) Thanks for proving you have no real interest in what actually happens in the banking system. BTW I went through the article in about 20 minutes.

                      2) Steve Keen is a heterodox economist doing ground breaking quantitative, empirical and simulation work with research partners all over the world.

                      3) Yes, the business schools are all wrong, most of them teach their undergrads vats of toxic laced Kool-Aid. That’s what we’ve been trying to tell you.

                      “Mainstream thinking” in macro is completely falsifiable Tamati and has led the global financial system to the brink. Time for you to get up to date instead of spreading your masters’ lies.

                  • Draco T Bastard

                    Hardly inline with mainstream thinking.

                    Mainstream economic thinking happens to be the problem but even mainstream economists are starting to realise that the present teaching of the fractional reserve system is bunk. I tried to find the Bank of England economist that said so but couldn’t. I believe it may be on the positivemoney.org.uk site. Then there’s the IMF economist recommending that we go to a full reserve currency and drop the bank money as it’s the bank money that’s causing the exponential debt increases.

                    BTW, the only raw nerve that seems to have been hit is yours – you’re the one that dropped to ad hominem attacks.

                    • Colonial Viper

                      BTW, the only raw nerve that seems to have been hit is yours – you’re the one that dropped to ad hominem attacks.

                      well, so did I :twisted:

                    • Tamati

                      Well I’m certainly glad I bumped into you two vanguards here and now. We’ll see what happens. I highly doubt DC the messiah will change a thing when he gets his hands on the Treasury benches. It’s smart politics though.

                    • Colonial Viper

                      Appreciate all your efforts to spread disinformation on the banking and financial systems, Tamati.

                    • Tamati

                      The feeling is mutual.

                  • For those of you confused by Tamati’s misinformation here are three video’s you might want to watch to inform yourself about the Reserve bank system and the creation of money out of thin air which we have to repay with our hard slog and interest on top:

                    Money as debt 1
                    the Money Masters
                    And the Creature of Jekyll Island

                    • ghostwhowalksnz

                      A quick look at Westpacs financial accounts shows , not up to date.
                      (1) Assets , mostly are loans they have made to others , $77 Billion

                      (2) Liabilities, mostly money they have borrowed from others $72 billion

                      Not much fractional banking going on there, as they have to have $5 bill of their own money in the kitty

                    • Colonial Viper

                      What about their off-balance sheet assets and liabilities, GWWNZ? Which we have seen revealed through the GFC are often larger than all the on-balance sheet items put together?

                      Also, what assurance do you have that those assets and liabilities that we can see are all accurately marked to market?

                      And one last point – you do know that a bank creating a new deposit through a loan automatically creates a balancing entry on the balance sheet? The new deposit is entered as a liability whereas the loan is entered as an equivalent asset.

                      Just because you see assets and liabilities as almost equal doesn’t mean that they are anything more than created book keeping entries.

  9. bad12 9

    Yes when the Reserve Bank Governor or that dribbling fool from the Herald John Armstrong can explain in a few logical sentences why someone in Invercargill should be made unemployed because Auckland house prices are over-inflated i may even find the time to listen,

    Until such time i can only spare my spittle for such economic Neanderthals who foisted on this country Legislation that looks from here to be simply a ‘protection racket’ for the shareholding class,

    The equation is this, Neo-liberal policies of laissez fairre claiming the market as the final arbiter created in the city of Auckland a gross shortage of housing by allowing open slather immigration and not providing an iota of planning for accommodating such an inflow, leaving this instead to ‘the market’, which of course FAILED under such an influx,

    Finally, after the profiteers have fed mightily on such a clusterf**k, the Reserve Bank Governor threatens the employment of 1000′s, not to mention the living standards of the rest of New Zealand with His current threat to raise interest rates across the country penalizing those who have in no way added to the cause of this mess,

    If interest rates must be raised to cool the over-inflated Auckland housing market then the Governor of the Reserve Bank should raise the interest rates for houses in the City of Auckland,

    If the Governor of the Reserve Bank claims He cannot raise only the interest rates on houses in Auckland leaving the rest of the economy alone by NOT raising interest rates on anything else, anywhere else, i suggest the Governor of the Reserve Bank should be removed in favor of someone that can…

    • greywarbler 9.1

      There are precedents for fashioning policies just for Auckland City so the RB could do so too. We are always hearing about Auckland being the power house of the country and needs this or that. While Gisborne is a big food raising area and doesn’t need this or that.

      So right, tailor policies to assist powerhouse areas to function well using economic theory which will be known already, and strengthen functioning areas to increase their commercial activity to be mini powerhouses. RB – my unofficial consultants fee – $1,000.00 pay to
      anti-TPPA fund raising site. (For top of my mind unresearched data, which is the sort of stuff most of government policy is based on.)

      • bad12 9.1.1

        My view is it is the economics of ‘the chimps’, Auckland house price over-inflation IF such over-inflation is to be the target of interest rates rises should be separated from the rest of the economic picture and such rates applies solely to that City,

        Christchurch right at the point of the first major earthquake should have also been separated from the overall economic picture and been declared a special economic zone for the purposes of the rebuild,

        There is no real economic growth involved in rebuilding that city it is simply replacing growth that was destroyed, and parts of the rest of the economy should not be punished through any perceived but false inflation from that rebuild,

        We need far smarter economics and economists, what would the rate of inflation be if Auckland house prices and the Christchurch rebuild were factors addressed outside of the current means of primitive bean counting,

        i would suggest that rate of inflation would be something akin to .02%-.07% and if the Reserve Bank Governor is suggesting that we all get kicked in the nuts with interest rate hikes over the whole economy because of the Auckland and Christchurch factors when any logical person viewing such would simply say to address both those cities outside of national inflation figures, then i suggest we find a new Reserve Bank Governor…

      • xtasy 9.1.2

        greywarbler

        “We are always hearing about Auckland being the power house of the country and needs this or that. While Gisborne is a big food raising area and doesn’t need this or that.”

        In my honest opinion, this talk about Auckland being the “power house” is a lot of self serving, arrogant garbage that mayor Len Brown and other senior Auckland politicians, business and other stakeholders love to go on about. And I say this as a person who has lived here over two decades.

        What does the Auckland “economy” actually consist of, and what does it “produce”? A look at various sources reveals some interesting information, which exposes that most is more or less “services” that are provided by some Aucklanders to others (businesses, public providers and invidivuals). The Port of Auckland is not so much an export port, it is primarily and IMPORT port, for goods MADE elsewhere.

        Manufacturing here is only taking place in some places, and we know how Fisher and Paykel and others have partly closed factories and moved off-shore. There is a lot of transport happening, but most is private motor cars and trucks, the latter transporting goods that were made elsewhere, from Auckland or to Auckland. There is an inland “port” in South Auckland that services mainly goods transported here from Tauranga and Whangarei (much for on-transportation).

        Naturally there is the international and domestic airport, and there are hotels and backpackers accommodating tourists. There are a few headquarters of major businesses and banks, there are courts, administrations and not much else.

        A BIG part of the economy is the inflated inner Auckland housing market. Now is that the kind of “economic activity” this country needs? Most this inflated talk about the Auckland economy only serves the large Auckland middle class to feel important, as it is all about their buying and selling of homes, their “investment” in homes, selling homes and “services” to new migrants, their importing foreign goods, their housing foreign students as boarders, their education investment, their personal jobs, their consumerist shopping from retailers, and their driving around in cars half the days, to get from A to B to C.

        That is the f**king “Auckland Economy”, at least the bulk of it in my eyes, not much else. So the provinces have good reasons to be furious at times, as true economic activity should look a bit better than what we have here!

        http://en.wikipedia.org/wiki/Auckland_City

        http://www.aucklandcouncil.govt.nz/EN/planspoliciesprojects/plansstrategies/theaucklandplan/economicdevelopmentstrategy/Documents/economicquarterly2013april.pdf

        http://livenews.co.nz/2013/07/16/aucklands-housing-market-boosting-wider-economy/

  10. Draco T Bastard 10

    The thing is that high interest rates don’t stop speculation in the housing market. In fact, with all the hot money poring in, it actually feeds it.

    Stop banks from creating money, get rid of the OCR and also stop RBNZ being the lender of last resort (only the government would have access to money created by the RBNZ, specifically, the RBNZ would be charged with creating the money the government needs to spend into the economy) and we’d go a long way to making our economy rational.

    • bad12 10.1

      Unfortunately your prescription would require the politicians to also be rational all the time, a prospect i fear that has as much chance as the proverbial snow flake in hell…

      • Draco T Bastard 10.1.1

        Throw in referenda and the sustainable rate of use of the countries resources and the required rationality of the MPs decreases.

    • Herodotus 10.2

      DTB hot money on its own does not feed the housing market – crap controls feed the market. Place some brakes e.g. Eliminating interest as tax deductible, state housing sub contracting out to private land lords.
      http://www.hnzc.co.nz/about-us/our-publications/factsheets/guaranteed-rent-through-home-leasing/guaranteed-rent-through-home-leasing.pdf
      And allowing capital gains to go untaxed when there is no basis for rentals to stand up as a viable trading business. The only reason rentals work IS the capital gains.
      Regulate so that owner occupies have an advantage over private land lords, and that state housing is the 1st alternative as a landlord and that there are sufficient housing stock.

      • Draco T Bastard 10.2.1

        hot money on its own does not feed the housing market

        Didn’t say it was but I believe it to be the main driver.

        The only reason rentals work IS the capital gains.

        Oh, I think you’ll find that people with 10+ houses the capital gains is just icing on the top.

        Eliminating interest as tax deductible

        I’m trying to eliminate interest altogether.

      • Saarbo 10.2.2

        +1000

      • Colonial Viper 10.2.3

        Herod, I do believe that you are on the right track.

        We need the business of being a landlord (as opposed to being a property speculator who rents out houses in-between flipping them) to be sustainable and attractive, providing fair net returns of 4% to 5% to the investor.

        And the NZ Govt should be a major player in that rental provider market, as well as facilitating the financing and the house price controls which will make it possible.

  11. BrucetheMoose 11

    I stopped reading the Herald regularly a while back due to their rightest slanted garbage and consistently biased views. Not only that, they hardly ever posted my comments. Especially after I said that National was really a club for closet fascists. They’re no fun.

  12. xtasy 12

    “For a decade now, we have had some of the highest interest rates in the developed world leading to a near-permanently over-valued dollar, and it’s killing the economy without fixing the housing bubble.”

    Interest rates in New Zealand have been much higher than in most OECD countries for as long as I can remember, and it goes back at least until the 1990s and also 1980s!

    New Zealand is considered a higher risk lender on the international lending market, given its small size and traditional over-dependence on foreign funds for investment. It seems a bit absurd, as on the other hand New Zealand always gets considered to be one of the most politically and socially “stable” countries. But it is size that matters, and the traditional reliance on capital inflow, which goes back to the early settler’s days, under direct British Crown rule here, has continued.

    What is the greatest problem for New Zealand is the high indebtedness due to private lending for financing real estate purchases. As most of this lending is done by Australian owned banks, a lot of interest and due dividends flow into their coffers, and the pockets of their shareholders. Also do foreign investors here earn their dividends on investment in enterprises that sell goods and services.

    The currency fluctuations, and the often overrated NZ currency is a major issue, and for instance Japanese mums and dads have a habit of investing their currency in NZ dollars, given high earning potential, all propped up by high interest rates.

    All this is little productive, as it disadvantages investment and economical feasibility of local manufacturers, producers in general, and therefore exports. Like with real estate Kiwis also love to import many consumer products, and the high dollar enables the to do this.

    So what we have is continued growth in bulk exports of easily produced mass primary products that appeal to Chinese and a few other consumers, to pay for imports of higher quality value added goods made there. This makes for a primitive, commodity dominated economy, with many flaws.

    Armstrong is in semi retirement from my view, and his articles reflect his somewhat redundant views, shaped by an age that was dominated by neo-liberal dogma and practice. Winston Peters and David Cunliffe are right, the Reserve Bank Act needs amending, so Armstrong is best advised to seek other daytime activities to avoid further embarrassments prior to full retirement.

    • Anne 12.1

      Armstrong is in semi retirement from my view, and his articles reflect his somewhat redundant views, shaped by an age that was dominated by neo-liberal dogma and practice.

      Add to that a debilitating disease that not only cripples the body, it must eventually have a detrimental effect on the mind as well. I give him full credit for persevering through all the tribulations of his condition for as long as he can. He still has something to offer, but some of his analysis work is outdated and falls short of what it once used to be.

      • xtasy 12.1.1

        “Add to that a debilitating disease that not only cripples the body, it must eventually have a detrimental effect on the mind as well.”

        I accept that, Anne, and while some know this, many readers would not, and without possibly being aware of his slowly weakening capacity, I feel concerned that John Armstrong may unintentionally expose himself to harsh criticism and ridicule.

        Hence there will be the time where he will be well advised to perhaps pursue his writing skills in a different forum at a different pace and level of exposure.

        • Anne 12.1.1.1

          Agree 100% xtasy. I know someone with the same condition and it really is deeply sad to see this once bright and active person reduced to a shell of his former self.

  13. Liberal Realist 13

    Armstrong is just another tool with his ideology firmly stuck in the Chicago school cesspit (Somewhere on Planet Key perhaps?).

    “So, what has the Bank done to earn a free-pass from every government to do whatever the hell it likes? As far as I can see, all its done in its 20 years of independence is kill our exporting industry, help us rack up massive foreign debt, and failed to tackle successive housing bubbles.”

    Eddie, you’ve hit the nail on the head. +10 Since independence 20 years ago almost every move the bank has made, has been to the detriment of ordinary New Zealanders. Of course those that have made enormous amounts of cash via property speculation and the boom / bust cycle want BAU and Armstrong is one of their mouthpieces.

    Labours CTG will certainly help address the imbalance but the issue of a single blunt tool – OCR still needs to be addressed. Why can’t the OCR be pegged against a trade-weighted basket of currencies while wielding more targeted tools to address problem areas of the economy?

    Furthermore retail banks need to have their profit regulated, perhaps by a maximum lending rate above the OCR? Of course in a market economy they have to make a profit but it doesn’t need to be obscene as we’re seeing today.

    The building materials duopoly also needs to be addressed. Material costs for a build a much higher than they should be simply due to lack of competition. QE also needs to be an available tool – I’ve yet to hear a valid argument against..

    As for LVRs, stupid stupid move. Shut out first home buyers leaving more property stock available for those who can stump up a 20% deposit.. As Eddie suggests, it wouldn’t have been hard to apply LVRs to problem markets only. The Government changed Housing NZ’s Welcome Home Loan and Deposit Subsidy easily enough.

  14. Colonial Viper 14

    QE also needs to be an available tool – I’ve yet to hear a valid argument against.

    QE refers to a very specific technique where the Fed buys investment bank assets (often impaired/toxic assets) with newly created money. In doing so, the Fed massively expands its balance sheet on the assets side.

    The problem is that the newly created money is not getting from the Wall St institutions, to Main Street. In the lingo, the “transmission mechanisms” for the money are broken.

    If NZ wanted to create new money in a way to help the economy that ordinary people experience, it wouldn’t use QE, the Government would instead spend that money into circulation buying goods and services from NZ businesses and NZ workers. This is more like what Roosevelt did with the WPA to help end the Great Depression. Hiring 8M or more people into new jobs all over the country. (A massive investment for a country with a population of only 100M at the time).

    *I wrote this reply to an individual who posted quite a good comment, but who seems to have deleted it or had it put into moderation.

    • bad12 14.1

      Yes the American version of expanding the money supply does seem overly complicated, here’s one example of the State producing monies and then adding labour and goods to produce an asset which is of the same value as the monies produced,

      Produce into existence X amount of monies and build with such monies X amount of State houses…

    • Liberal Realist 14.2

      CV, my comment did hit moderation – in fact I thought it had been lost but checking today my comment has been published.

      I’m familiar with QE the US Fed has been engaging in – I should have further clarified in my comment, I wouldn’t suggest NZ engage in a free for all into a stock market black hole as with the US experience.

      As you suggest (QE doesn’t necessarily need to be the mechanism) newly created money should be used to purchase infrastructure / earth quake recovery bonds such as the GP suggestion 12 months ago (not sure if it’s policy?). The CHCH rebuild could be fast tracked with a such a bond purchase and Auckland’s public transport woes could also be addressed.

      [lprent: We tend to be somewhat lackadaisical on the weekends on moderation but that gets cleared every few hours. But releasing comments that went into spam is always slower. Firstly because the anti-system is over 99% accurate and secondly because it is so accurate, I usually only look at it a few times per day. There is no apparent reason for that comment to be auto-spammed apart from style. It does read a wee bit like someone wanting to sell financial services :) ]

      • Draco T Bastard 14.2.1

        newly created money should be used to purchase infrastructure / earth quake recovery bonds

        No need, just spend the money into the economy. Adding bonds to the process just adds complication and unneeded interest.

  15. vto 15

    All hail the great god of capital!

    Imagine if it disappeared?

    No capital. What would we all do. Armstrong is incapable of imagining such a place, common as it has been ….

  16. vto 16

    The war of capital.

    Played out in New Zealand via the reserve bank.

    Played out in the US via the government shutdown.

    Capital is pulling its weight.

    Best we push back. Fuck them. Capital is an apparition. Fuck the capital!

  17. Ad 17

    2 quick provocations.

    1. If Cunliffe wants to break the neoliberal consensus and gain control over our currency and hence our export prices received, then kill the Reserve Bank dead and pull its functions back to Treasury. Interest rate changes made by Cabinet only.

    2. Shift all govt banking business to Kiwibank. This could make Kiwibank offer lower mortgage rates than any of the Aussie banks. And stronger, safer deposits.

    We need a banking system returned to direct accountability by the political order, and designed to strengthen New Zealand’s interests.

  18. tricldrown 18

    The reserve bank act is nothing more than allowing money speculators to continueously plunder our economy taking tax free capital gains for doing nothing more than pushing our dollars value up to artificial highs for their gain while the productive sector is damaged .
    Then because we are not making enough from exports NZers have borrowed massive amounts of debt to buy cheap imports.
    We have lived beyond our means ever since this legislation has been in place.
    A Capital gains tax on profits from money speculation would be a start.
    The housing bubble needs to be dealt to.
    Printing money at the same level as the major trading blocks do and using that printed money to build enough houses to deal to the property bubble.
    This would keep our dollar and interest rates down.

  19. Sable 19

    I’ve met a least one Reserve bank fool and they are just that. Armed with economics masters and PHD degrees (might as well have a degree in fortune telling) they have absolute faith in neo liberal twaddle trotted out by the Chicago school mob and as time has shown their faith is sorely misplaced. Yet do they consider other alternatives, hell no!

    The clown I spoke to was rabid in his support of this economic fairy tale and ranted on for ages when challenged. He certainly had a good knowledge of the global economy and an answer for everything BUT there was little practical basis for his belief in neo liberalism or any real indication he had the ability to credibly influence or change anything. Really just a nerd in a government think tank, big brain but beyond that nothing of substance….

    Not at all surprised by this reaction, no one wants others to find out they are, in fact, clueless…

  20. Rogue Trooper 20

    National Governments minor adjustment responses to housing supply issue:
    -Welcome Home Loans; 15000 over next three years
    -KiwiSaver changes; 20000 to access deposit assistance
    -Auckland Accord; 39000 new homes (5000 consents by Christmas intended) immediately bringing 300 homes at 335-400+K on-stream-Nick Smith.
    appears to be mainly about money supply rather than housing supply.

    Tinkering “mostly at the margins”- Colin James.

    “Easy credit” from overseas QE and financial markets IS washing up here.
    (house prices may face a fall on the back of US stalemate and bank credit changes.).

    “Exempt first-home buyers from new LVR’s”- Phil Twyford

    and an interesting suggestion for discussion from a realty spokesman-
    Have the government underwrite deposit shortfall / balance on new homes constructed for first-home buyers.

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    No Right Turn | 21-07
  • Corporate sponsorship
    Australian Senator Ian McDonald was so keen to show off his support for the mining industry that he addressed the Senate wearing his hi-vis "australiansforcoal.com.au" mining vest, kindly sponsored for him by the Minerals Council of Australia. Classy. I really...
    Polity | 21-07
  • Poll shows people want more spent on PT
    Stuff have released the results of a poll they’ve conducted asking about transport funding. Auckland has sent a clear message to the Government over its transport priorities: Give us better public transport rather than better roads. The latest Stuff.co.nz-Ipsos poll...
    Transport Blog | 21-07
  • 82 Billion Reasons Not to Vote For The John Key Party (Once known as Nation...
    When John ‘Casino’ Key took power, NZ was in $20 billion of overseas debt – it is now in over $82 billion, and rising! See the NZ Debt Clock HERE   National Party = DEBT due to incompetence    ...
    An average kiwi | 21-07
  • New Fisk
    Why do television producers think a grey blob over a dead person’s face shows respect?...
    No Right Turn | 21-07
  • Fiji: Impunity for torture
    In 2012, a group of prisoners escaped from Naboro prison in Fiji. When they were recaptured, they were savagely beaten by police, and one subsequently had a leg amputated. The entire thing was captured on video, and several of the...
    No Right Turn | 21-07
  • Taxing multinationals via sales
    An interesting idea out of the US for how to fairly tax multinationals around the world: First, have them declare a worldwide profit, netting off worldwide sales and worldwide qualifying expenses1 Second, find out where they made their sales. Third,...
    Polity | 21-07
  • Growing Inequality Can Be Seen As Clever Politics
    Voter turnout has been falling steadily across the western world in recent decades, and not least in New Zealand. We have a proud record of high turnouts in general elections, but even here, we dipped below 80% in 2008 and...
    Bryan Gould | 20-07
  • Reo Māori Policy Launch
    MANA will be launching its Reo Māori policy at 10am Thursday 24 July, at Matangireia (the old Māori Affairs Select Committee room at Parliament). We will also be addressing our concerns regarding the Minister of Māori Affairs Māori Language Strategy...
    Mana | 22-07
  • Basin Flyover decision victory for common sense
    The Green Party welcomed the Environmental Protection Authority's draft decision announced today not to allow the $90 million Basin Reserve flyover in Wellington to proceed."Both popular and expert opinion opposed the flyover. The proposal was expensive, unnecessary and would have...
    Greens | 22-07
  • Ae Marika! 22 July 2014
    The big storm has gone, but the damage that it did and the saturation levels that it reached meant that smaller storms quickly overwhelmed roading, and water-flow systems again in the north. And although certain individuals are talking up the...
    Mana | 21-07
  • 2014 Roger Award nominations now open
    The Roger Award is for The Worst Transnational Corporation Operating in Aotearoa/New Zealand in 2014 Nominations are now open please visit the website to nominate the worst TNC in Aotearoa. You will need to include reasons why you think your...
    Mana | 21-07
  • Stop Israeli State Terror – Rally and March this Saturday 26th July, Aote...
     The humanitarian crisis in Gaza is getting much worse and the world is marching in unprecedented numbers. New Zealanders spoke out strongly last Saturday with a march of 5,000 people in Auckland (see picture below) – the biggest march ever...
    Mana | 21-07
  • NZ needs to assist UN with aid for Gaza
    The New Zealand Government should support the United Nation's efforts to raise money to assist humanitarian aid for the people of Gaza, the Green Party said today.The United Nations Relief and Works Agency for Palestine Refugees (UNRWA) has made a...
    Greens | 21-07
  • INTERNET MANA ROAD TRIP- LEG 2
      WAIKATO / TARANAKI / MANAWATU-WANGANUI  Tuesday July 29th, 6pm | RotoruaDistinction Hotel, Fenton Ballroom, 390 Fenton Street, Rotorua  Wednesday July 30th 6pm | HamiltonWaikato University, Price Waterhouse Coopers Lecture Theatre, Gate 7, Hillcrest Rd Hamilton  Thursday July 31st, 6pm |...
    Mana | 21-07
  • Greens announce 20 hours free ECE for two year olds
    The Green Party today announced that its key social platform for this election will be to tackle child poverty and inequality by ensuring every child in New Zealand has enough to thrive.The Green Party will make a series of policy...
    Greens | 20-07
  • MANA Pasifika Says NO To Discrimination
    Vice Chairperson of MANA Pasifika James Papali’i  feels for Ms Tupou and her children after they were served with trespass orders from their  local swimming pool in new market. With no warning or explanation from the pool staff Police ordered...
    Mana | 20-07
  • MANA Movement policy release – Economic Justice – John Minto
    Address notes from Mana Economic Justice Spokesperson and co-vice President John Minto to Economic policy launch in Kelston – 2pm, Sunday 20 July 2014. Reducing inequality and giving everyone a fair go MANA Movement’s policy prescription for a rich man’s...
    Mana | 20-07
  • One-sided reporting on the Middle East Conflict
    The following was sent to New Zealand Herald, Fairfax Media, Radio New Zealand, Television New Zealand, TV3, Radio Live and ZB Network. We are writing to all of you because there are well established patterns of reporting which seem to have been adopted by New Zealand...
    Mana | 20-07
  • New President for MANA Movement
    Lisa McNab, MANA President, and Annette Sykes, outgoing MANA President and candidate for Waiariki Lisa McNab was officially passed the mantle of MANA President in a special ceremony at Potahi Marae in Te Kao this week, following her unanimous election into the...
    Mana | 20-07
  • Flood relief for National voters first
    “The flooding in Tai Tokerau has hammered the north and impacted hundreds of families right across the region,” said MANA Leader and Tai Tokerau MP, Hone Harawira. “It’s bitterly disappointing to see that the first response from this National government...
    Mana | 18-07
  • Green Party statement on tragedy of Malaysian Airlines flight MH17
    The Green Party conveys its condolences to the families of the victims of Malaysian Airlines flight MH17.The Ukrainian Government has accused pro-Russia rebels in the east of the Ukraine of shooting down the Malaysia Airlines jet with a ground-to-air missile,...
    Greens | 18-07
  • Tackling childhood obesity is not rocket science Minister, but it is scienc...
    The Government's latest snub of scientific evidence - this time about its failure to address childhood obesity - is another example of National's reliance on 'tobacco science' to justify its denial agenda, the Green Party said today. An Auckland University...
    Greens | 18-07
  • New Zealanders will never get justice over spying saga
    New Zealanders who were illegally spied on by the Government Communications Security Bureau (GCSB) will probably never get their justice, said the Green Party today.The Independent Police Conduct Authority (IPCA) today released its findings on whether the Police were negligent...
    Greens | 16-07
  • National issues mineral mining permits in Maui’s sanctuary
    The Government has issued mineral mining permits in one third of the endangered Maui's dolphin sanctuary, the Green Party has revealed today.This follows revelations that permits have also been issued for oil exploration in the sanctuary.There have been 254 Maui's...
    Greens | 16-07
  • Greens announce $1 billion additional investment in R&D, including busi...
    The Green Party has announced today that its economic priority for the election is building a smarter greener economy that benefits every New Zealander.In the Party's headline economic announcement, the Greens have launched their plan to build a smarter, more...
    Greens | 15-07
  • Families under more pressure as power, food prices rise
    Higher power prices, housing costs and food prices are behind today's inflation rise, putting already stressed families under renewed pressure, the Green Party said today."Families are facing rising costs from food, power, and mortgages, or rents; and most are getting...
    Greens | 15-07
  • Goverment drops recreational river reporting
    The Government pulled the plug on cleaning up our dirty rivers so they are safe for swimming, and now it has given up on annual reports about the problem, the Green Party said today. Two weeks ago the Government released...
    Greens | 15-07
  • Ae Marika! 15 July 2014
    It ain’t over by a long shot, but I can’t help feel good about Northlanders response to the week from hell. This last week has seen the worst weather over a larger region of the north, for a longer period...
    Mana | 15-07
  • Latest power price data shows National has failed families
    Latest data showing New Zealanders' power bills have risen 2.3 percent in the last year show National has failed families and households, the Green Party said today.Ministry of Business, Innovation and Employment data issued today shows average residential electricity prices...
    Greens | 15-07
  • MANA announces its general seat candidates in Tamaki
    MANA is pleased to announce its general seat candidates in Tamaki for the 2014 election. We have 10 seasoned community campaigners keen to bring MANA’s full set of big, bold policies to the election campaign,” says MANA Leader and MP...
    Mana | 14-07
  • Media Advisory- MANA Youth Ambassador
    MANA Leader and MP for Tai Tokerau Hone Harawira, and recently-appointed MANA Youth Ambassador Wairangi Koopu, will be available to speak to the media on the first day of the Internet MANA Road Trip. The Road Trip starts at Cape...
    Mana | 14-07
  • National muddying waters and needs to come clean
    The Government's inaccurate response to the Green Party's clean rivers policy shows it is scared of the Party's plans that will actually make rivers clean enough to swim in, the Green Party said today. Minister of Economic Development, Steven Joyce,...
    Greens | 14-07
  • NZ Govt needs to call for Israel to halt air strikes
    The New Zealand Government must push for Israel to stop its campaign of terror in Gaza, the Green Party said today.Thousands of civilians in Gaza have fled their homes as Israel has continued an offensive to destroy Hamas rocket sites...
    Greens | 13-07
  • MANA announces their MANA Youth Ambassador – Harawira
    Ex New Zealand Warrior hard man and Maori television media personality Wairangi Koopu has joined the MANA strategy team as the new MANA Youth Ambassador in another game changer move for the MANA party. “When we say we want more...
    Mana | 13-07
  • Green Party launches key election priority, rivers clean enough for swimmin...
    The Green Party has announced today that its number one environmental priority for this election is making our rivers clean enough to swim in again and keeping our beaches safe from oil spills. The Green Party will make a series...
    Greens | 12-07
  • Greens say John Key must clarify where he stands on marriage equality
    John Key has left many with the impression he will repeal marriage equality if elected into Parliament again, said the Green Party today. Reports have emerged that at a meeting with Pacific church leaders in Mangere, on Tuesday, many attendees...
    Greens | 11-07
  • McCully mustn’t shirk scrutiny during inquiry
    The inquiry into Foreign Affairs' handling of allegations of attempted rape by a Malaysian diplomat must investigate all the actions taken by Murray McCully during this fiasco, Green Party Co-leader Metiria Turei said today.A Ministerial inquiry has been launched into...
    Greens | 11-07
  • Government punishes beneficiary babies
    Papers released to the Green Party shows that the Government turned their back on babies of beneficiaries against official advice, said the Green Party today. Documents released by Treasury to the Green Party under the Official Information Act show that...
    Greens | 10-07
  • Te Hamua to do ice challenge so others can survive cancer too
    At noon tomorrow in the Kaiti Mall in Gisborne, Te Hamua Nikora, MANA candidate for Ikaroa Rawhiti, is taking on the ice challenge to raise awareness of the importance of getting regular health checks for testicular cancer and raise funds...
    Mana | 10-07
  • National breaks promise to insulate every state house
    National has broken its promise to insulate every state house by the end of 2013, Green Party Co-leader Metiria Turei said today."Of the 68,386 houses under Housing New Zealand's management, 30 percent have not been insulated. That is a dismal...
    Greens | 09-07
  • McCully should stand down while review considers his actions
    The Green Party is calling for the review into Foreign Affairs' handling of allegations of attempted rape by a Malaysian Diplomat to be expanded to cover actions of Ministers, and for the Minister of Foreign Affairs to stand down while...
    Greens | 09-07
  • No place for user pays in our classrooms – Minto
    “Labour’s education policy announcements last weekend have several welcome features which would be supported by Mana but we are concerned at the “user pays” proposal for children to get the educational benefits of access to the internet,” says Mana Education...
    Mana | 09-07
  • Internet Mana – “the Roadtrip!”
    Internet MANA will change the Government because it’s time to create an inclusive and independent Aotearoa. We are not afraid to disrupt the status quo, to fix what is not working and innovate with new ideas. Let’s reconnect New Zealand,...
    Mana | 09-07
  • Greens challenge Police to protect people on bicycles
    Evidence heard in today's inquest into the death of Jane Farrelly highlights the Police's ongoing failure to protect people on bicycles, the Green Party said today. The Police decided not to prosecute the driver involved in a fatal collision with...
    Greens | 09-07
  • High cost of storm damage sign of things to come
    New figures showing storm damage cost New Zealand $77 million in the first half of the year are a reminder of what we're up against with climate change, the Green Party said today.According to the Insurance Council of New Zealand,...
    Greens | 09-07
  • SkyCity’s commitment to preventing harm non-existent
    National has done a deal with a company that continues to flout New Zealand's gambling regulations, Green Party gambling spokesperson Denise Roche said today.In a media sting earlier this year, an elderly man was allowed to play pokie machines continuously...
    Greens | 09-07
  • Please explain Minister… yet again
    Primary Industries Minister Nathan Guy needs to explain what is going on with our export of sheep casings to China, Labour’s Primary Industries spokesperson Damien O’Connor says. “Our exports of partially processed casings to China have been halted and no...
    Labour | 08-07
  • Chief Technology Officer to lead Labour’s ‘Digital Upgrade’
    A Labour Government will put ICT at the highest level of Government by creating the position of Chief Technology Officer to directly advise the Prime Minister and Cabinet on Information Technology issues, Labour’s ICT spokesperson Clare Curran says. “Reporting directly...
    Labour | 08-07
  • Number of children in severe poverty reaches record high
    There’s no cause for celebration with the latest Household Incomes Report showing the number of children living in severe poverty has reached its highest level this century, Labour’s Children’s spokesperson Jacinda Ardern says. “New Zealand once valued itself as the...
    Labour | 08-07
  • Government in denial over income inequality
    Today’s Household Incomes Report from MSD underscores National’s continued failure to recognise inequality is a problem and is getting worse, Labour’s Finance spokesperson David Parker says. “The report shows income inequality has increased over the past year and remains higher...
    Labour | 08-07
  • Canterbury hit hard by National’s cuts to night classes
    National’s decision to cut nearly $2.5 million from adult and community education in Canterbury over the past five years was short-sighted and Labour is committed to restoring funding for the sector, Labour’s Associate Tertiary Education spokesperson Megan Woods says. “The...
    Labour | 08-07
  • Its official – Teamkey not working for all kiwis
    Latest Government data proves John Key is not working for all New Zealanders as the incomes of the poorest half of kiwis stayed the same in the 6 years under National, while the top 20 percent's rose by thousands, the...
    Greens | 08-07
  • Whanau Ora to be reviewed under Labour
    Labour has been very clear that it is necessary to review and evaluate the effectiveness of Whanau Ora for Māori, says Māori Affairs spokesperson Nanaia Mahuta. "I was pleased to meet with social service, youth, justice and health providers who...
    Labour | 08-07
  • No encore for the ‘Rock Star’ economy?
    Another significant shortfall in the Government’s books suggests the economic recovery may have already passed most New Zealanders by, Labour’ Finance spokesperson David Parker says. “With unemployment still high, wage rates stagnating and inequality widening, only the lucky few are...
    Labour | 08-07
  • Survey shows parents want smaller class sizes
    A new survey finding most parents believe class sizes are too big shows Labour is right to reduce them, Labour’s Education spokesperson Chris Hipkins says. “The Post-Primary Teachers' Association survey of 750 people conducted by UMR Research found 54 per...
    Labour | 08-07
  • Crime targets no excuse for fewer prosecutions
    Police are being instructed to charge fewer people in order to meet National’s crime reduction targets, Labour says. “Front line police and others in the criminal justice system are telling us police have had pressure put on by senior officers...
    Labour | 07-07
  • QV figures show two-track housing market
    The two-track housing market that has developed under National is underlined in QV’s latest report, Labour’s Housing spokesperson Phil Twyford says. “QV’s index shows many homeowners in the regions are facing declining equity in their properties, while in Auckland and...
    Labour | 07-07
  • ….except Israel
    ….except Israel...
    The Daily Blog | 22-07
  • NZIFF Review: The Dark Horse – 6 stars
    This year’s opening New Zealand International Film Festival offering was a couple of nights ago, and I still feel this incredible NZ movie reverberating inside me. The Dark Horse is heartbreaking, heartwarming and terribly raw. Director James Napier Robertson has...
    The Daily Blog | 22-07
  • TDB New Zealand International Film Festival 2014 picks
    NZIFF is here, our picks this season are… The Dark Horse Boyhood Leviathan Is the man who is tall happy?  Hot Air Maps to the Stars Snowpiercer Toons for Tots InRealLife Print The Legend E-Team The Internet’s Own Boy: The...
    The Daily Blog | 22-07
  • A tale of two men: Cunliffe’s apology for rape culture vs Key’s dismiss...
    The manner in which Cunliffe has sought to address rape culture vs Key’s dismissal of it yesterday is a remarkable contrast as stark as the bias over Cunliffe’s holiday vs Key’s holiday. Key takes weeks off to pose for selfies...
    The Daily Blog | 21-07
  • MANA Pasifika Says NO To Discrimination
    MIL OSI – Source: Mana Movement – Headline: MANA Pasifika Says NO To Discrimination  Posted on July 20, 2014 by admin in James Papali’i’Vice Chairperson of MANA Pasifika James Papali’i  feels for Ms Tupou and her children after they were...
    The Daily Blog | 21-07
  • MANA Movement policy release – Economic Justice – John Minto
    MIL OSI – Source: Mana Movement – Headline: MANA Movement policy release – Economic Justice – John Minto  Posted on July 20, 2014 by admin in John Minto, Press ReleasesAddress notes from Mana Economic Justice Spokesperson and co-vice President John...
    The Daily Blog | 21-07
  • New President for MANA Movement
    MIL OSI – Source: Mana Movement – Headline: New President for MANA Movement  Posted on July 20, 2014 by admin in Lisa McNab, NewsLisa McNab, MANA President, and Annette Sykes, outgoing MANA President and candidate for Waiariki Lisa McNab was officially...
    The Daily Blog | 21-07
  • Flood relief for National voters first
    MIL OSI – Source: Mana Movement – Headline: Flood relief for National voters first Posted on July 18, 2014 by admin in Hone Harawira, Press Releases“The flooding in Tai Tokerau has hammered the north and impacted hundreds of families right...
    The Daily Blog | 21-07
  • Te Reo Māori a doorway to opportunity
    MIL OSI – Source: Labour Party – Headline: Te Reo Māori a doorway to opportunity A Labour Government will ensure more of our children have the opportunity to learn te reo Māori by encouraging the learning and use of it...
    The Daily Blog | 21-07
  • GUEST BLOG: Joe Trinder – National Party thugs destroying Internet MANA b...
    Last Saturday morning the volunteer brigade of Internet Mana  went out in the freezing cold to deploy Internet Mana billboards. They braved the cold weather of that icy cold morning only to have National party thugs destroy the billboards and...
    The Daily Blog | 21-07
  • Amnesty International: War crimes against innocent civilians – Why is his...
    27 December 2008, 11:30. Israeli Defence Forces (IDF) commence military airstrikes on a list of 603 targets believed to house suspected Hamas operatives in the Gaza Strip. In just three weeks, the devastating Operation ‘Cast Lead’ claimed approximately nine Israeli...
    The Daily Blog | 21-07
  • Rape Culture is not blah blah blah
    To some of our politicians and commentators, ‘rape culture’ has already become blah blah blah. A meaningless and overstated slogan to roll their eyes at and derisively joke about and deny. It’s something the ‘left’ takes seriously, and something the...
    The Daily Blog | 21-07
  • Hot Air: Alister Barry presents the cold, hard facts about New Zealand’s ...
    IF YOU SEE only one film in the 2014 NZ International Film Festival see Alister Barry’s feature-length documentary, Hot Air. This chilling exposé of the strategy and tactics adopted by New Zealand’s largest industries to ensure that no effective action to combat...
    The Daily Blog | 21-07
  • CTU resolution on Palestine
    Further to Unite’s position on Palestine, this is the Council of Trade Union position on Palestine… Preamble: Over 170 Palestinian political parties, unions and other organizations including the Palestinian General Federation of Trade Unions issued a call in July 2005...
    The Daily Blog | 21-07
  • Stop Israeli State Terror – Rally and March this Saturday 26th July, Aote...
    The humanitarian crisis in Gaza is getting much worse and the world is marching in unprecedented numbers. New Zealanders spoke out strongly last Saturday with a march of 5,000 people in Auckland (see picture below) – the biggest march ever...
    The Daily Blog | 21-07
  • Cafe chef awarded $50,000 for unfair dismissal
    MIL OSI – Source: Unite Union – Headline: Cafe chef awarded $50,000 for unfair dismissal A former chef at an Auckland cafe has been awarded more than $50,000 in unpaid wages and compensation for unjustified dismissal. The Employment Relations Authority...
    The Daily Blog | 21-07
  • NZ needs to assist UN with aid for Gaza
    MIL OSI – Source: Green Party – Headline: NZ needs to assist UN with aid for Gaza Monday, 21 Jul 2014 | Press Release The New Zealand Government should support the United Nation’s efforts to raise money to assist humanitarian...
    The Daily Blog | 21-07
  • Road fix needed now, not later
    MIL OSI – Source: Labour Party – Headline: Road fix needed now, not later Northland’s roading system is in chaos and needs fixing fast, Labour List MP Kelvin Davis says.  “According to NZTA’s 10 year funding data every area of...
    The Daily Blog | 20-07
  • KiwiSaver innovations needed to build wealth
    MIL OSI – Source: Labour Party – Headline: KiwiSaver innovations needed to build wealth The innovative changes to KiwiSaver suggested by the Financial Services Council today will be seriously considered by Labour as part of plans to make KiwiSaver universal,...
    The Daily Blog | 20-07
  • Internet MANA Auckland road show at Kelston – what the media are missing
    The Town Hall in Kelston yesterday was packed well before the start time of 2pm. What many welded to Wellington in the Press Gallery don’t understand about Internet MANA is that its energy and flaxroot mobilisation is far larger than...
    The Daily Blog | 20-07
  • Greens announce 20 hours free ECE for two year olds
    MIL OSI – Source: Green Party – Headline: Greens announce 20 hours free ECE for two year olds Monday, 21 Jul 2014 | Press Release This is an investment in families and our kids’ education and in reducing poverty. The...
    The Daily Blog | 20-07
  • Jeremy Wells’ Mike Hosking rant on Radio Hauraki: Today,
    Jeremy Wells’ Mike Hosking on Radio Hauraki...
    The Daily Blog | 20-07
  • Apocalypse Now
    For a brief moment, the nations of the world seemed united in a peaceful pursuit. The  World Cup finale in Brazil captured the imagination of a global TV audience. Within days, catastrophe exploded into the headlines, sending shards of outrage,...
    The Daily Blog | 20-07
  • Palestinians suffer from media’s use of derogatory labels
    Why, in our news media, is an Israeli with a gun a “soldier”, but a Palestinian with a gun a “militant”, or even a “terrorist”? The terminology is clearly prejudicial to the Palestinian cause, because New Zealanders are more likely...
    The Daily Blog | 20-07
  • Another example of media bias – Key’s holiday vs Cunliffe’s holiday a...
    Another, sad, tired example of media bias in terms of holidays this time. I pointed out in the weekend the extreme bias being exhibited by the media… The current level of negative bias being exhibited by the conservative corporate media...
    The Daily Blog | 20-07
  • MANA answers the call to have Apartheid Israeli Embassy kicked out of NZ
    Last week I asked “which NZ political Party will have the courage to call for the Apartheid Israel embassy to close?“, MANA have answered that challenge and have stepped forward as being the political party with that courage… The Mana...
    The Daily Blog | 20-07
  • Pulitzer Prize-winning journalist Glenn Greenwald to speak at September 15t...
      So Pulitzer Prize-winning journalist Glenn Greenwald will speak at Kim Dotcom’s Auckland Townhall event . Dear oh dear, how will the mainstream media journalists handle this news? All week they’ve been screaming how unfair it is that they will have...
    The Daily Blog | 20-07
  • New Zealanders will never get justice over spying saga
    MIL OSI – Source: Green Party – Headline: New Zealanders will never get justice over spying saga Thursday, 17 Jul 2014 | Press Release “How can someone go to Court on the issue when a person doesn’t even know if...
    The Daily Blog | 19-07
  • National issues mineral mining permits in Maui’s sanctuary
    MIL OSI – Source: Green Party – Headline: National issues mineral mining permits in Maui’s sanctuary Thursday, 17 Jul 2014 | Press Release The Government has issued mineral mining permits in one third of the endangered Maui’s dolphin sanctuary, the...
    The Daily Blog | 19-07
  • Casino workers fight outsourcing – picket 1-3pm Friday
    MIL OSI – Source: Unite Union – Headline: Casino workers fight outsourcing – picket 1-3pm Friday 17Jul On Friday the 18th of July, Unite will be picketing SkyCity Casino urging them not to outsource the Cleaning Services department. This proposal...
    The Daily Blog | 19-07
  • #PIZZAHURT! Rally for fair redundancy pay for Pizza Hut workers 3.30pm Thur...
    MIL OSI – Source: Unite Union – Headline: #PIZZAHURT! Rally for fair redundancy pay for Pizza Hut workers 3.30pm Thursday RALLY FOR JUSTICE FOR THE PIZZA HUT CALL CENTRE WORKERS We deserve fair redundancy pay. 330pm, 666 Great South Road,...
    The Daily Blog | 19-07
  • A Push to Give Steadier Shifts to Part-Timers
    MIL OSI – Source: Unite Union – Headline: A Push to Give Steadier Shifts to Part-Timers Reprinted from the New York Times By STEVEN GREENHOUSEJULY 15, 2014 Sharlene Santos says she and other workers at a Zara store got two...
    The Daily Blog | 19-07
  • Labour won’t abandon regional New Zealand
    MIL OSI – Source: Labour Party – Headline: Labour won’t abandon regional New Zealand Labour will ensure no regions in New Zealand are ‘red-zoned’ by tailoring Regional Growth Plans for each province as part of our Economic Upgrade, Labour’s Finance...
    The Daily Blog | 19-07
  • Minister must come clean on amalgamation
    MIL OSI – Source: Labour Party – Headline: Minister must come clean on amalgamation The Minister of Local Government is telling porkies to its supporters on local government amalgamation, says Labour’s Local Government spokesperson Su’a William Sio. National’s arrogance on...
    The Daily Blog | 19-07
  • IPCA report proves need for full review of spy agencies
    MIL OSI – Source: Labour Party – Headline: IPCA report proves need for full review of spy agencies A report into the Police decision not to prosecute the Government Communications Security Bureau over its unlawful spying of 88 New Zealanders...
    The Daily Blog | 19-07
  • The 5 reasons why NZ First won’t get over 5% and how Colin Craig is now a...
    One of the rules of NZ punditry is to NEVER count Winston out. Never. The silver fox has snatched victory from the jaws of defeat so many times he seems immortal with a dislike for sunlight. I love Winston, the way...
    The Daily Blog | 19-07
  • GUEST BLOG: Anjum Rahman – what about ‘it is people, it is people, it i...
    ...
    The Daily Blog | 19-07
  • End the occupation to end the rockets
    The events of the last few days have been overwhelming to say the least. The atrocities towards the Palestinians has escalated with the ground invasion and a plane was shot down over Ukraine; basically senseless and unnecessary killings are occurring...
    The Daily Blog | 19-07
  • 5,000 strong march calls for campaign to close Israeli embassy
    The NZ Herald claims this was ‘hundreds’ not thousands of protesters  It was marvellous to be part of the huge Queen Street Auckland march on Saturday in support of Palestinians in their struggle for justice and human rights. The march...
    The Daily Blog | 19-07
  • Another media gaffe – this time it’s TV3′s Brook Sabin
    . . Every so often (quite regularly, in fact), a media personality will say something outrageously offensive, or just plain gormless, that results in an uncontrollable  *facepalm* reaction. On 19 July, on TV3′s “The Nation“, it was Brook Sabin’s turn....
    The Daily Blog | 19-07
  • An interesting poll from TVNZ. Note some of the VERY left-wing questions!?
    .   . July 19 – Yesterday, I received this poll, sent by TVNZ to my email. What I found very interesting were some of the question relating to issues that have not been discussed – literally – for decades....
    The Daily Blog | 19-07
  • If we want to lift participation rates – what about the 5000 prisoners Na...
    Our electoral system at times seems hell bent on making it more difficult for the exact communities it has highlighted as most disconnected from ever voting. While we are scrambling to explain to a consumer culture generation why democracy isn’t one...
    The Daily Blog | 19-07
  • Israel/Gaza: Prevent further war crimes after Israeli ground assault
    MIL OSI – Source: Amnesty International NZ – Headline: Israel/Gaza: Prevent further war crimes after Israeli ground assault Israel’s ground assault on the Gaza Strip, which began Thursday night after 10 days of attacks by Israeli forces and Palestinian armed...
    The Daily Blog | 19-07
  • Want to lift voter participation? #futurevoterselfie this election with you...
    As the importance of democratic engagement starts making its presence felt in the wake of the lowest voter turn out in a century, it’s time to make universal suffrage a goal again. One step towards that is nurturing the future...
    The Daily Blog | 19-07
  • Jeremy Wells’ Mike Hosking rant on Radio Hauraki: Today, native birds are...
    Jeremy Wells’ Mike Hosking on Radio Hauraki...
    The Daily Blog | 18-07
  • GUEST POST: Curwen Rolinson – Equality of Marriage – can we please, fin...
    It’s 2014. Election year. There’s a myriad of wildly important issues facing the nation ranging from breathtaking overreach by our intelligence services, through to ongoing allegations of governmental corruption and the fact that our so-called “Rockstar Economy” is apparently far...
    The Daily Blog | 18-07
  • Wow, the Press Gallery really felt bitter about backing Grant Robertson did...
    I started the daily blog in the wake of the 2012 Labour Party conference. I was very close to Cunliffe at the time and had been pestering him constantly during the conference about whether or not he would push a challenge...
    The Daily Blog | 18-07
  • Ukraine: Tragic loss of life must be impartially investigated
    MIL OSI – Source: Amnesty International NZ – Headline: Ukraine: Tragic loss of life must be impartially investigated The death of nearly 300 people on board a Malaysian Airlines civilian passenger jet, which came down yesterday in an area of...
    The Daily Blog | 18-07
  • The National Party are lying to us when it comes to their facts
    The National Party are lying to us when it comes to their facts, figures and statistics. There are certain lines that each of the members has at one stage or another repeated. For example low unemployment, budget surplus, low crime...
    The Daily Blog | 18-07
  • What Israeli propaganda would have us believe
    What Israeli propaganda would have us believe...
    The Daily Blog | 18-07
  • RSA condemns downing of flight MH17
    The Royal New Zealand RSA has today denounced the downing of flight MH17, in the Donetsk region of Ukraine, as an act of terror....
    Scoop politics | 22-07
  • EDS joins Trans-Tasman Resources High Court appeal
    “EDS has today filed a notice to join (in opposition) Trans-Tasman Resources (TTR) appeal against the decision to reject its marine consent application to mine ironsands in the South Taranaki Bight,” says EDS Executive Director Gary Taylor....
    Scoop politics | 22-07
  • Over 1100 dead Kiwis
    Research presented to the NZ Defence Force today shows that an average of 16 service personnel have died away from the front line every year since 1945. Add those from the front line and the figure is 18....
    Scoop politics | 22-07
  • Petition to repeal carer legislation presented at parliament
    Today Rachel Noble, Chief Executive of the Disabled Persons Assembly presented a petition, with thousands signatures, to parliament demanding the repeal of the New Zealand Public Health and Disability Amendment Act (No 2) 2013....
    Scoop politics | 22-07
  • Claudette Hauiti to step aside at election
    National Party President Peter Goodfellow confirms that he has received notification from List MP Claudette Hauiti that she plans to step aside at the 20 September election....
    Scoop politics | 22-07
  • LGNZ welcomes Prime Minister to local government conference
    Local Government New Zealand (LGNZ) was pleased to host the Prime Rt Hon John Key at the 2014 LGNZ Conference today in Nelson. The Prime Minister addressed the audience of 550 delegates including mayors, chairs, chief executives, councillors and senior...
    Scoop politics | 22-07
  • Students Challenge Parliament to Protect Student Voice
    Student representatives on Victoria University of Wellington Council. LEFT: Elected-at-large student representative David Alsop. RIGHT: VUWSA President Sonya Clark....
    Scoop politics | 22-07
  • Flockton basin residents deserve fairness
    It is blindingly obvious that the land in the Flockton basin has dropped because of the earthquake causing increased flooding and flood vulnerability says Labour’s Christchurch Central Candidate Tony Milne....
    Scoop politics | 22-07
  • LGNZ welcomes Labour’s announcement on regional development
    Local Government New Zealand (LGNZ) has welcomed today’s announcements from Leader of the Opposition David Cunliffe on regional development. The Hon Cunliffe launched Labour’s regional development policy to more than 550 delegates at the annual 2014...
    Scoop politics | 22-07
  • Standing Orders Committee: Review of Standing Orders
    The Standing Orders Committee has presented its report on the Review of Standing Orders. The committee reviews the Standing Orders, procedures, and practices of the House and usually reports towards the end of each parliamentary term....
    Scoop politics | 21-07
  • Stop Israeli State Terror – Rally on 26th July, Aotea Square
    The humanitarian crisis in Gaza is getting much worse and the world is marching in unprecedented numbers. New Zealanders spoke out strongly last Saturday with a march of 5,000 people in Auckland (see picture below) – the biggest march ever...
    Scoop politics | 21-07
  • Human Rights Commission welcomes The Way Forward report
    EEO Commissioner Dr Jackie Blue has welcomed The Way Forward report on an integrated system for Intimate Partner Violence, Child Abuse and Neglect. “The Way Forward report is truly a way forward. We’re not starting from scratch, all the jigsaw...
    Scoop politics | 21-07
  • Young people to face MPs in UNICEF NZ Election Debate
    The UNICEF New Zealand Youth vs MPs Election Debate takes place today (22 July) at the Beehive Theatrette providing a unique platform for young people to debate issues of importance ahead of the 2014 general election. UNICEF NZ will also...
    Scoop politics | 21-07
  • Taskforce Welcomed to Curb Excess Local Government Control
    The Taxpayers’ Union is welcoming Prime Minister John Key’s announcement at the LGNZ conference in Nelson to establish a 'Rules Reduction Taskforce'.Taxpayers’ Union Executive Director, Jordan Williams, says:...
    Scoop politics | 21-07
  • LGNZ releases election manifesto
    LGNZ releases election manifesto focusing on the need for strengthening New Zealand’s communities and economies...
    Scoop politics | 21-07
  • Local government celebrates outstanding performance at LGNZ
    Local Government New Zealand (LGNZ) is pleased to announce the winners of the inaugural LGNZ EXCELLENCE Awards, designed to recognise and celebrate the leadership role local government plays within communities. The Awards were presented at a prestigious dinner...
    Scoop politics | 21-07
  • Cocktails for Industry Officials, Squalor for Pigs
    When members of the pork industry meet at their annual conference at Auckland’s Novotel Hotel today, animal advocates are expecting urgent action to address cruelty issues on factory farms. Animal advocacy group SAFE says pork industry officials...
    Scoop politics | 21-07
  • Forest & Bird to mark On the Block campaign at Parliament
    Independent conservation organisation Forest & Bird will hold a photo opportunity at Parliament at noon today to highlight the, unprecedented rights sell-off to frack, log, drill and mine New Zealand’s public conservation land....
    Scoop politics | 21-07
  • NZCCSS calls for government to raise care workers’ wages
    The New Zealand Council of Christian Social Services (NZCCSS) is joining the call for the government to increase funding to the aged care sector to enable fair wages to be paid to workers caring for New Zealand’s older people. “The...
    Scoop politics | 21-07
  • CTU Urges Reserve Bank Not to Raise Interest Rates
    The Council of Trade Unions is calling on the Reserve Bank not to raise interest rates on Thursday. “Another rise in interest rates will raise the dollar further, striking another blow at high value manufacturing industries who are exporting or...
    Scoop politics | 21-07
  • ACT announces Jamie Whyte as Pakuranga candidate
    Dr Whyte was elected ACT Leader in February. Since then he has been travelling around the country meeting New Zealanders and talking about ACT’s key messages of low, flat tax, cutting green tape, getting tough on crime, and “one country,...
    Scoop politics | 21-07
  • Whyte calls on Craig to name his flat tax rate
    ACT Leader Jamie Whyte has hit out at Colin Craig for failing to name his party's suggested flat tax rate. "Page 9 of The Press today is an advertisement for Colin Craig’s Conservative Party and their policy of having two...
    Scoop politics | 21-07
  • The Letter 21 July 2014
    All tax and spend ; Do not add up ; Bad economics ; We have moved to the left ; Being in government was a mistake...
    Scoop politics | 21-07
  • Aggressive phone scam targets Inland Revenue customers
    Inland Revenue is warning its customers to beware of aggressive telephone scammers who are targeting people for money and threatening actions such as deportation and prison if not paid....
    Scoop politics | 21-07
  • A talk on wealth, a rant on inequality, & NZ’s latest stats
    I'm giving a talk in Wellington tomorrow night on wealth in New Zealand: how much of it there is, how it's distributed, and why we should be talking more about it. It's at 5.30 at Connolly Hall in Thorndon, and...
    Scoop politics | 21-07
  • Growing Up in New Zealand Report exploring vulnerability
    The Chief Executive of the Families Commission says the Growing Up in New Zealand (GUiNZ) report released today is the first step towards developing a greater understanding of vulnerability in the New Zealand context....
    Scoop politics | 21-07
  • Christopher Giddens Struck off
    The New Zealand Lawyers and Conveyancers Disciplinary Tribunal has ordered that Christopher Giddens be struck from the Roll of Barristers and Solicitors....
    Scoop politics | 21-07
  • Downing of MH17 shows the Ukraine crisis is a global issue
    The downing of Malaysian airlines’ flight MH17 clearly shows the Ukraine crisis is not a local or regional affair, it is a global issue and the world community needs to help the Ukraine, University of Canterbury Ukrainian expert Associate Professor...
    Scoop politics | 21-07
  • NZEI supports Green party’s commitment to quality ECE
    NZEI Te Riu Roa is welcoming the Green Party’s plans to boost the quality of early childhood education by restoring funding for centres with 100 percent qualified staff....
    Scoop politics | 21-07
  • NZ First Tax Policy Breaches the China FTA Peters Signed
    Reacting to New Zealand First leader Winston Peters’ policy announcement to introduce a capital gains tax on foreign owned homes and assets, Jordan Williams, Executive Director of the Taxpayers’ Union says:...
    Scoop politics | 21-07
  • Interview with Metiria Turei
    We believe that the Green Party and Labour can work together. After the election, we will look at our shared goals and where we can work together to achieve positive goals for New Zealand....
    Scoop politics | 21-07
  • NZ First GST Policy Not Thought Through
    Reacting to New Zealand First leader Winston Peters’ policy announcement to remove GST on food, Jordan Williams, Executive Director of the Taxpayers’ Union says:...
    Scoop politics | 21-07
  • KASM to fight seabed mining decision appeal
    Kiwis Against Seabed Mining (KASM) today notified the High Court of its intention to join the EPA in opposing an appeal by Trans Tasman Resources against the EPA’s decision to refuse consent for the country’s first seabed mining proposal....
    Scoop politics | 21-07
  • MANA Policy Statement- Economic Justice
    A just economy is one where everybody is able to afford the cost of living and enjoy a decent quality of life. In a just economy, tax rates are fair. Those who earn more pay a higher proportion of their...
    Scoop politics | 21-07
  • Waitangi Tribunal Releases Its Report on the MV Rena
    In its interim report released today, the Waitangi Tribunal has found that the Crown’s conduct in response to the grounding of the MV Rena on Otaiti (Astrolabe) reef breached the principles of the Treaty of Waitangi....
    Scoop politics | 21-07
  • Wairoa District Council Should Not Be Gagging Staff
    Reacting to the Dominion Post article that the Wairoa District Council has removed council staff members' personal submissions on the Council's annual plan, Taxpayers' Union Executive Director, Jordan Williams, says: “Staff making personal submissions...
    Scoop politics | 21-07
  • Xero CEO shares ideas on transforming local economies
    Xero CEO shares ideas on transforming New Zealand’s local economies Cloud-based accounting software firm Xero could be based anywhere in the world but Chief Executive Rod Drury keeps the company’s head office in Wellington....
    Scoop politics | 21-07
  • ‘Pay Up or Lose Licence’ Message Is Getting Through
    Coromandel MP Scott Simpson says fine dodgers are finally paying up since the introduction of strict new rules for traffic offenders. Scott Simpson MP says ‘People who get caught breaking traffic rules now have two choices - pay up or...
    Scoop politics | 21-07
  • Petition for new nurse graduates
    Today the New Zealand Nurses Organisation is launching a petition aimed at achieving a nurse entry to practice (NEtP) position for every new grad nurse. New Zealand is facing a significant nursing shortage over the next decade. We need to...
    Scoop politics | 21-07
  • Local government discusses how we can spread wealth
    Opportunities and risks arising from New Zealand’s changing regions were explored today at the Local Government New Zealand conference in Nelson. Shamubeel Eaqub, Principal Economist at the New Zealand Institute of Economic Research, delivered...
    Scoop politics | 20-07
  • FTC Calls for Rational Dialogue Regarding Gaza
    The Free Thinking Coalition (FTC) urges New Zealanders who are engaged in dialogue regarding the situation in Israel and Palestine to think rationally about issues confronting the Middle East....
    Scoop politics | 20-07
  • Craig says Peters should Come Clean
    Conservative Party Leader Colin Craig says "Winston Peters should come clean and declare where he is standing, who he will work with, and what his bottom lines are."...
    Scoop politics | 20-07
  • Democrats for Social Credit announces Party List
    Democrats for Social Credit Party Leader, Stephnie de Ruyter, today announced the line up of the Party’s candidates and list rankings for the forthcoming election. The party will field thirty electorate candidates and four list only candidates....
    Scoop politics | 20-07
  • Economic Growth And Jobs Are Key Priorities
    A new report highlights the major concerns for Mayors and Chairs A report, based on the findings of a recent survey, identifies what Mayors and Chairs of local authorities think are the major issues facing their communities and organisations. Commissioned...
    Scoop politics | 20-07
  • LGNZ conference 2014: President’s opening speech
    LGNZ conference 2014: President’s opening speech Ladies and gentlemen, the Hon Paula Bennett and particularly our Members, New Zealand’s 78 local governments, this year’s theme: Powering Local Economies | Building Vibrant Communities, is...
    Scoop politics | 20-07
  • LGNZ announces partnership with FairWay Resolution
    Local Government New Zealand (LGNZ) today announced a significant new partnership under EquiP, its Centre of Excellence....
    Scoop politics | 20-07
  • Local government votes on three important matters
    Local Government New Zealand (LGNZ) members have voted on three remits about topical and important matters for the sector at the 2014 LGNZ Annual General Meeting, held at Nelson. The first remit was a request that LGNZ advocate to the...
    Scoop politics | 20-07
  • Ngapuhi Supports New Maori Language Strategy
    Te Runanga-a-iwi o Ngapuhi strongly supports the Minister of Maori Affairs’ new Maori Language Strategy....
    Scoop politics | 20-07
  • Disrupt And Mobilize to Advance the Cause of Young Kiwis
    Disrupt And Mobilize to Advance the Cause of Young Kiwis Basketball, street dance and hip-hop events staged during in the two-week advance voting period in the lead-up to the general election is how Internet MANA plans to get more young...
    Scoop politics | 20-07
  • Q + A: Winston Peters
    SUSAN New Zealand First is holding its annual conference this weekend, it's just about to get underway again at Alexandra Park Raceway. And celebrating 21 years since the party was formed, will they be celebrating another three years on election...
    Scoop politics | 20-07
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