web analytics
The Standard

Asset sales: Key’s scorched earth tactics will backfire

Written By: - Date published: 9:14 am, October 25th, 2013 - 60 comments
Categories: election 2014, privatisation - Tags:

Granny supported little Johnny’s plan to go off to market and sell the family’s cash cow. But even she’s furious that what he’s come back with amounts to nothing more than a hill of beans. If Key and co couldn’t get a good price for Meridian, they shouldn’t have sold the bloody thing.

As Granny Herald notes, that they’re pushing ahead with the remaining sales regardless is all about ideology, and the knowledge that they’re going to lose the next election.

It’s the political equivalent of scorched earth tactics: if National can’t have the government any more, they’ll steal everything they can and leave as little as possible to the victors.

Of course, this is just going to make their slaughter at the next election even worse. The complete failure of their asset sales and their heedless, reckless determination to keep on going in the face of overwhelming public opposition, including the coming referendum, is going to rip a huge hole in their support. I reckon we’ll see a poll with Labour ahead of National within 6 months.

And then, as a strongly mandated Labour-Greens government pushes through NZ Power, the tory elite who are buying these electricity companies will get a shock as they find that cheaper power means their shares aren’t worth half what they think they are.

60 comments on “Asset sales: Key’s scorched earth tactics will backfire”

  1. Ad 1

    From David Cunliffe when asked about whether Labour would buy back shares in sold companies:
    “All options are on the table”
    That’s all he would say – and all that’s appropriate at this point.

    A political question is whether this will turn into general unease as within the “Right Direction/Wrong Direction” polling. If unemployment stays around where it is or gets worse, it will be harder for them to win power back. But at the moment, National remnain perceived as the superior economic managers.

    Very surprised Parker isn’t attacking harder. Cosgrove is solid but not yet making the public feel emotion at a visceral and popular level. There’s still too much nationalist space being left for Winston to fill.

    Can Labour translate asset sale chaos into tilting public mood about economic management competence? It appears their to lose, but it’s been lost before as in 1996.

    • ghostwhowalksnz 1.1

      Since the majority owner of Mighty River Power , has Ok ed the buyback of its shares, we can see that the ‘unthinkable’ option has occured much sooner.

      Look at what else has been ‘bought back’

      Air New Zealand

      Kiwirail

      Chorus ( in a round about way its getting a government mandated subsidy)

      I think the BNZ was a part sale, got into difficulties, required a bailout but was onsold immediately

      • Dumrse 1.1.1

        Who bought back Kiwi Rail? And whilst you’re at it how about expanding your Chorus buy back comment. Tell us about the subsidy?

        • richard 1.1.1.1

          Why don’t you look it up yourself?

          In this 2008 television news footage, Finance Minister Michael Cullen talks about the government’s buying back of the rail network. In 1993 New Zealand’s rail system (including the track network) and inter-island ferries were sold for $328 million. Renamed Tranz Rail, the organisation performed poorly, and in 2003 was bought out by the Melbourne-based Toll Holdings. In 2004 the government repurchased the rail infrastructure, by then very run-down, for $1, vesting it in a new state-owned enterprise, Ontrack. The government also spent $75.8 million buying a stake in the rail operator, and provided it with a $44-million cash injection. On 1 July 2008 the government spent $665 million buying Toll’s rail and ferry operations outright, renaming the company KiwiRail.

          http://www.teara.govt.nz/en/video/32685/buying-back-kiwirail

    • dave 1.2

      we can not announce any buy back or these torys will think they have a bailout point NO far better to bring in power nz force the power companies to average there costs at which point the shares will be worth around a $1.35 mrp .then buy them back. but no bailout for these wankers !

    • poem 1.3

      “National remnain perceived as the superior economic managers”

      What gives you that idea Ad? the reality of national’s unsustainable line of policy shows national up as abject failures and the majority of kiwis now see that.

    • rangelife 1.4

      “National remain perceived as the superior economic managers”

      hmmmmm I’d say there’s an overwhelming recognition that National’s economic management is based on maintaining low-wages for the majority, with the management/asset owning classes profiteering nicely. The crony capitalism charges are beginning to resonate more & more. And the assets sales debacle is an own goal for this government in so many ways …

  2. Lanthanide 2

    You know, there’s no reason the government can’t force the Superannuation Fund to buy the shares back.

    My BF reckons that Cullen should have shifted ownership of these SoEs into the superfund at the time it was started, instead of putting cash in for the first few years.

    • Pete 2.1

      It’s better public policy to allow the fund managers of the Super Fund and ACC to make the most prudent investment decisions they can rather than raid these funds for money under the figleaf of an SOE transfer.

      • Lanthanide 2.1.1

        Yeah, it’s not such a good position now. But at the creation of the fund, it would have been pretty easy to justify moving these strategic, long-term assets with good dividend returns into the fund. Then National wouldn’t have had any chance to sell them, for risk of looking like they were plundering the pension.

        A government could still move the remaining 51% stake in.

        • Matthew Hooton 2.1.1.1

          But the purpose of the Cullen Fund is to one day sell down all its assets to help pay for superannuation, so the shares in the companies would eventually go back on the share market, which I don’t think is what you would support long term.

          • dv 2.1.1.1.1

            But doesnt the Cullen fund get income from its investments?
            If it is big enough then a selldown won’t be needed will it.

          • Tat Loo 2.1.1.1.2

            which I don’t think is what you would support long term.

            A sell down 40-50 years down the track is no problem.

            • Matthew Hooton 2.1.1.1.2.1

              I thought the selldown would be more like around 20 years from now – certainly not 50 years; the baby boomers will all be well dead by then.

              • Tat Loo

                Hey Matthew. Cool icon.

                Why would you sell down high earning assets?

                Anyhows Stephen Joyce said that the retirement age could stay at 65 through to 2060 no problem. And I trust him on that.

          • felix 2.1.1.1.3

            “But the purpose of the Cullen Fund is to one day sell down all its assets”

            Cough (bullshit) cough.

            • greywarbler 2.1.1.1.3.1

              felix
              I thought that it was to particularly provide for a projected demographic bulge
              not far off so that the shock to the economy wouldn’t be great. It was to be a smoothing out of the spike of oldies’ super and ageing costs.

              That’s how I remember it and too, does Hooters.

          • Lanthanide 2.1.1.1.4

            Pretty simple, Hoots.

            When the fund was set up, the power companies should have had nominal ownership transferred to the fund.

            The dividends would be paid to the fund. The NZ Government would then have topped up the fund by $1B – dividends each year, instead of $1B.

            At the time the fund is wound up, nominal ownership is simply transferred back to the government. No need to sells shares anywhere.

            This has two benefits:
            1. National would have looked like they were plundering the pension fund if they sold the assets.
            2. National made the political decision to stop contributing money to the fund, but if it owned the power companies then at least the dividend stream would still be available for re-investment, again unless National wanted to look like they were plundering the pension.

            • Tat Loo 2.1.1.1.4.1

              Bloody impressive, Lanth.

            • RedBaronCV 2.1.1.1.4.2

              And when Labour are back in with a 51% shareholding they can rearrange the actual power producing assets between the companies at the cheapest prices they can manage leaving the partly privatised ones with zip or coal fired plants, and company that is wholly owed with the dams etc.
              Then bring in controls on non renewable energy and drop the bottom out of the partly privatised coys. Go Lanth

          • tricledrown 2.1.1.1.5

            MH logically we could have a no tax economy if we had enough investments but national are purely ideologically driven.
            Tis is all about looking after those who are already well off and keeping those who aren’t well off poor and disenfranchised grovelling to to likes of you and your ilk for the crumbs!
            This is not the kiwi way ,kiwis like sharing and caring.
            Nactional is about making Kiwis selfish snobby and narcissistic like yourself Hooten!

      • Tat Loo 2.1.2

        it’s only an accounting fiction. No actual cash need be transferred out of those funds in order for the SOE assets to go in.

  3. phil 3

    xox
    Why don’t we all change power companies to support the Government owned one? Why don’t we all join Kiwibank? All the profits would stay in NZ and not go to Australia?

  4. Jokerman 4

    raise the jolly roger.

  5. BM 5

    I didn’t have an issue with partial assets sales.

    I think the main reason they haven’t been as successful as hoped is that people just don’t think the share market is particularly sexy.
    Labour and the Greens undermining them didn’t help either.

    You don’t see big gains happen in the share market or hear of people making their fortune compared to property, so people think investing in stocks is a waste of time.

    Lack of leverage and volatility is a big negative against investing in NZ stocks.

    • One Anonymous Knucklehead 5.1

      You don’t have an issue with partial asset sales, and lack of leverage and volatility is a big negative against investing in NZ stocks.

      That seems perfectly clear. No, wait…

      • BM 5.1.1

        No, I don’t have an issue with the idea of selling state “assets”,I don’t think they’re some amazing jewel in New Zealands crown.

        What I was trying to point out was that one of the reason the take up was so poor was because of other factors such as the way stocks are perceived in NZ.

        • One Anonymous Knucklehead 5.1.1.1

          What I was trying to point out was that I doubt very much you would have sold shares in these companies if you owned them yourself, given the historical dividend performance and the local market volatility etc.

          To put it another way, there are inherent contradictions between your ideology and your ethics.

          • BM 5.1.1.1.1

            I would have sold them some where else.

            It’s a bit like selling your wares in Gore, you’re not going to get as good a price as you would if you sold them in Auckland.

            • Rogue Trooper 5.1.1.1.1.1

              likely to experience some dampness in the smalls

            • One Anonymous Knucklehead 5.1.1.1.1.2

              That actually makes a kind of sense: bring capital into the country by floating in one of the offshore exchanges. Assuming the capital raised was worth more than the existing dividend flow (I’m picking there’s some sort of way to calculate that) and assuming you reinvested the capital.

              Kind of a hard sell politically, though. Good luck.

              • McFlock

                if the capital raised exceeded the dividend flow, they wouldn’t buy it anywhere.

                New owners expect to get more money out than they put in.

    • One Anonymous Knucklehead 6.1

      Yes, little Bretty.

      • Brett Dale 6.1.1

        Knucklehead:

        What are the ages of the people who write these pieces?

        • One Anonymous Knucklehead 6.1.1.1

          How old do you have to be to use the diminutive as a gesture of ridicule or contempt?

          Is the analogy of Granny (she’s 150 this year) and little Johnny (100 years her junior) apt?

          Is your affected disapproval of any consequence?

  6. Jokerman 7

    20:21 An inheritance quickly gained at the beginning will not be blessed at the end.
    A prudent man sees danger and takes refuge but the simple keep going and suffer for it. 22:3

  7. Tracey 8

    Yes brett how old they are is more importAnt than what they write. How many shares did you sign up for in meridian?

    • Tracy:

      Does the op think calling Prime Minister, John Key, “little johnny” is funny or clever or making a great satirical point?

      Its almost as cliche as David Cunliffe, saying. Labour cares about the little New Zealander and not the Wall street bankers”

      • Sable 8.1.1

        More to do with the fact Keys is small minded, mean spirited, selfish. He chooses to make himself a “little” man.

    • Tracey:

      I stopped buying shares in NZ companies after the former labour government decided who i could sell my shares too.

  8. Tracey 9

    Jokerman

    to be is to do satre
    to do is to be descartes
    do be do be do sanatra

  9. greywarbler 10

    tracey
    😆

  10. Sable 11

    Even the Tory birdcage liner has turned against the little Emperor. Of course rats always flee from a sinking ship….

    • Naturesong 11.1

      Not completely. After recognising that the sales are driven by ideology the editorial finishes with:

      It also does little to inspire confidence in the part-float of the final power company, Genesis Energy. The Government, however, has no choice but to push ahead. It would make no sense to pause now, leaving Genesis with a different ownership structure.

      The reasoning appears to be “Hey, in the against all economic sense and overwhelming public opposition we’ve sold two public utilities, and fucked up the selling of those utilities therefore we must continue … ” to fuck the rest up?

  11. newsense 12

    http://www.stuff.co.nz/business/9327829/Len-Brown-would-go-if-he-was-CEO-say-lawyers

    can’t wait for these can’ts to do a feature on what would happen to CEO who flogged off the company’s revenue stream for several billion less than what they had budgeted for. Or stopped investement in a fund that returned substantial benefits. Or lost production entirely to an industry through lack of investment.

  12. newsense 13

    And while I’m getting pissy with journalists we had this great headline from the Herald’s Business editor:

    Liam Dann: Cunliffe’s Labour smart to play dumb

    http://www.nzherald.co.nz/liam-dann/news/article.cfm?a_id=106&objectid=11139587

    “A lot of these issues are complex and Labour seems happy to grab headlines with half-baked ideas that don’t bear serious scrutiny”

    Still waiting to see how smart he thinks the Meridian float is…That’s not all a half-baked idea…

    • QoT 13.1

      You have to have a laugh at our media suddenly giving a crap about the complex economic details of policy when it’s Labour announcing them. Not a whisper about John Key’s ever-changing rationale for asset sales – it’s to reduce debt! It’ll pay for schools! It’ll pay for schools and reduce debt!

  13. Lloyd 14

    You don’t sell what you can’t afford to live without. Can New Zealand afford to live without these electricity companies?

  14. tricledrown 15

    Blind monetarist people are not as silly as you make out except those like your self who believe your own shallow propaganda!
    Like Meridian selling power at a $476 million discount to Tiwae point just to help National get the sale through before the next election.
    $30 million bribe to tiwae on top of that plus a $60 million bribe for the new share buyers!
    $30 million to Goldman Sachs (Robber Barron’s) $30 million in advertising.
    $200 to $300 million in lost dividends.
    It doesn’t make economic sense!
    That”s ideology over economic sense and long term planning!

Recent Comments

Recent Posts

  • How many victims missing out on protection?
    Hundreds of domestic abuse victims could be missing out on getting protection orders because they are unable to get legal aid, Labour’s Justice spokesperson Jacinda Ardern says.“In the last two years some 351 people who applied for legal aid for… ...
    1 day ago
  • Government kicks hardworking whanau
    A major incentive to help young Kiwis and people on low incomes to start saving has been kicked out from under them with the National-led Government ramming through short-sighted legislation under Urgency today, Labour’s Maori Development Spokesperson Nanaia Mahuta says.… ...
    1 day ago
  • Speculator tax political stunt gone wrong
    Bill English’s admission he doesn’t know whether National’s new speculator tax will have any effect shows last weekend’s announcement by the Prime Minister was a desperate political stunt, says Labour’s Housing spokesperson Phil Twyford. “This Government is so desperate to… ...
    2 days ago
  • The value of parenting
    This week, as part of the Budget, the government introduced a bill to address child poverty. This bill will require parents receiving income support to look for part-time work once their youngest child is three years of age rather than… ...
    GreensBy Jan Logie MP
    2 days ago
  • Another new tax, another broken promise
    National has unveiled yet another new tax in this budget – a rural broadband levy that will almost certainly result in an immediate price hike for internet and telephone connections across New Zealand, Labour’s ICT spokesperson Clare Curran said “The… ...
    3 days ago
  • Anniversary of Sri Lankan Tamil Massacre
    This is not going to be a happy story but if the Green Party of Aotearoa doesn’t want to know who else will? May 18th marks the anniversary of what is known as the ‘Mullivaikal massacre’ of Tamils in 2009 at… ...
    GreensBy Catherine Delahunty MP
    3 days ago
  • Labour MPs join youth to take part in 40 hour famine
    A team of Labour MPs took part in the 2015 World Vision 40 hour famine and we were told by World Vision and the young people, that it was the first time MPs had joined them and how appreciative they… ...
    3 days ago
  • Rodeo: ‘Family entertainment’ or animal abuse?
    Recently  TVNZ ran a story with confronting footage showing rodeo animals being punched, repeatedly shocked with electronic prods and having their tails violently twisted over their backs. It was clear that significant force was being used behind the scenes to make… ...
    GreensBy Mojo Mathers MP
    3 days ago
  • Budget puts the squeeze on police
    The Government has cut funding to the New Zealand police force in the latest Budget, says Labour’s Police spokesperson Kelvin Davis. “The reduction is a whopping $15.3 million that could put front line officers at risk. ...
    3 days ago
  • Crucial social services take another hit
    The Government looks set to slash half a million dollars of funding for critical social services, including Women’s Refuge and Barnados, says Labour’s Social Development spokesperson Carmel Sepuloni “Taking $500,000 from organisations aimed at improving the lives of vulnerable families… ...
    3 days ago
  • Saying it Loud on Climate in Christchurch
    The Government’s Christchurch consultation meeting on New Zealand’s emission targets was inspiring – not for what was in the Ministry for the Environment’s (MFE’s) defeatist video about the obstacles to changing to a low carbon future, but for what the… ...
    GreensBy Eugenie Sage MP
    3 days ago
  • Budget silent on small business
    The Government has completely ignored one of the most important sectors of the economy – small and medium-sized enterprises – in Budget 2015, Labour’s Small Business spokesperson Jacinda Ardern says. "A stunning 41 per cent of jobs were created by… ...
    3 days ago
  • Thank you John, it’s been bloody marvellous
    The departure of John Campbell is a blow to current affairs investigative journalism, Labour’s Broadcasting Spokesperson Clare Curran says. “Campbell Live stood out in its field. Its axing comes as local broadcasting in New Zealand remains in a state of… ...
    3 days ago
  • KiwiSaver cut shows no long-term plan
    National’s cutting of the KiwiSaver kickstart is incredibly short-term thinking, typical of a Budget that is woefully short on ideas to generate wealth and opportunity, Labour’s Finance spokesperson Grant Robertson says. “New Zealand’s savings rate is far too low. KiwiSaver… ...
    3 days ago
  • National hits the panic button for its 7th Budget
    National has hit the panic button for its 7th Budget in a desperate attempt to look like they’re taking action to reduce our shameful child poverty rates, but they are giving with one hand and taking with the other, Opposition… ...
    4 days ago
  • Panic and back-flips can’t hide twin deficits
    National’s token measures to fight fires they have left burning for seven long years can’t hide a Budget that is long on broken promises, short on vision and fails to reach surplus, says Labour’s Finance spokesperson Grant Robertson. “After being… ...
    4 days ago
  • Auckland land measure seven years too late
    National are so desperate to look like they are doing something about the Auckland housing crisis they have dusted off Labour’s 2008 inventory of government land available for housing and re-announced it, says Labour’s housing spokesperson Phil Twyford. “Despite National… ...
    4 days ago
  • Access to gender reassignment surgery essential
    I was frankly disgusted to hear the Minister for Health say that funding gender reassignment surgeries is a “nutty idea”. A recent study found that in New Zealand 1% of young people identified themselves as transgender, and 3% were unsure… ...
    GreensBy Jan Logie MP
    5 days ago
  • Global milk prices now lowest in 6 years
    The latest fall in the global dairy price has brought it to the lowest level in six years and shows there must be meaningful action in tomorrow’s Budget to diversify the economy, says Labour’s Finance spokesperson Grant Robertson. “Dairy prices… ...
    5 days ago
  • Big risks as CYF checks stopped
    Revelations that Child, Youth and Family is no longer assisting home-based early childhood educators by vetting potential employees should set alarm bells ringing, Labour Children’s spokesperson Jacinda Ardern says. “Doing away with an extra mechanism for checking potential new employees… ...
    5 days ago
  • Housing crisis about real people not numbers
    The Government’s continued failure to tackle the housing crisis is seeing thousands of vulnerable Kiwis being kept off social housing waiting lists, while others, who are on the list, are being forced to live in cars and garages, says Labour’s… ...
    6 days ago
  • Housing crisis about real people not numbers
    The Government’s continued failure to tackle the housing crisis is seeing thousands of vulnerable Kiwis being kept off social housing waiting lists, while others, who are on the list, are being forced to live in cars and garages, says Labour’s… ...
    6 days ago
  • State of origin
    Kiwis are increasingly concerned about the food they give their families. New Zealand consumers have the right to know where their food has come from, particularly when it involves animals, and should be able to expect our Government to label… ...
    GreensBy Steffan Browning MP
    6 days ago
  • Relationships Aotearoa
    It is disturbing that Relationships Aotearoa, a voluntary organisation set up in 1949 to help couples struggling with their relationships following the upheavals of World War II, may be forced to close, says Acting Spokesperson for the Voluntary and Community… ...
    6 days ago
  • An economy that is just working for some is an economy that is not working
    The National Party presents itself as a great manager of the economy, but if the economy is only working for some we really need to question that assertion. Alongside the perpetually elusive surplus, the levels of risk in our economy are… ...
    GreensBy Jan Logie MP
    6 days ago
  • An economy that is just working for some is an economy that is not working
    The National Party presents itself as a great manager of the economy, but if the economy is only working for some we really need to question that assertion. Alongside the perpetually elusive surplus, the levels of risk in our economy are… ...
    GreensBy Jan Logie MP
    6 days ago
  • House prices to a crack $1 million in 17 months
    The average Auckland home is on track to cost $1 million in 17 months’ time if nothing substantial is done to rein in soaring price rises, Labour’s Housing spokesperson Phil Twyford says. “Auckland’s house prices have skyrocketed 63 per cent… ...
    6 days ago
  • Vital support services can’t be left in lurch
    The National Government has big questions to answer about how a provider of services to thousands of vulnerable New Zealanders is set to fold, Labour’s Finance spokesperson Grant Robertson says. Relationships Aotearoa which provides support and counselling to families, individuals… ...
    6 days ago
  • Treasury and IRD on a capital gains tax
    Both the Treasury and IRD have been advising the National Government on the benefits of a capital gains tax. Documents released to the Green Party under an Official Information Act request show that John Key has been selective with the… ...
    GreensBy Russel Norman MP
    7 days ago
  • Charity legislation needs review
    It is unacceptable that the big corporate based charities claim  millions in annual income tax exemptions, while small community based and operated non-profit organisations  struggle to gain official charity status, Labour’s acting spokesperson for the Voluntary and Community Sector Louisa… ...
    7 days ago
  • John’s panic-Key response to housing crisis
    John Key needs to tell New Zealanders what caused his sudden change of heart that led to the Government’s scrambled and last-minute housing measures, Opposition Leader Andrew Little says. “The Prime Minister’s sudden rush of blood to his head followed… ...
    7 days ago
  • Keep our Assets Christchurch Campaign: An update
    I recently presented my submission to keep Christchurch Council assets at the Christchurch City Council’s public hearings on its 10 year plan on 13 May. The hearings are live-streamed and recorded so you can watch them on www.ccc.govt.nz. The Council’s… ...
    GreensBy Eugenie Sage MP
    7 days ago
  • John Key finally admits there’s a housing crisis
    John Key’s weak measures to rein in the astronomical profits property speculators are making are an admission – finally – that there is a housing crisis, Labour Leader Andrew Little says. “But yet again National is tinkering with the housing… ...
    1 week ago
  • Government stifles voices in CYFs review
    The Government’s exclusion of the Māori Women’s Welfare League in a panel on the future of CYFs is a cynical ploy to stifle views, says Labour’s Māori Development Spokesperson Nanaia Mahuta. “It's unbelievable that a significant review on the future… ...
    1 week ago
  • Speech to the Otago Chamber of Commerce
    Thank you very much for the opportunity to be here today. It’s a pleasure as always to be back in the town that raised me. Growing up in St Kilda meant that there was one thing that was a big… ...
    1 week ago
  • Key can’t just be Prime Minister for Parnell
    John Key must show New Zealanders in next week’s Budget that he is more than the Prime Minister for Parnell, and is also the Prime Minister for Pine Hill, Putararu and Palmerston North, Labour’s Finance spokesperson Grant Robertson says. In… ...
    1 week ago
  • Stop the conversions
    This week, some Waikato locals took me and intrepid photographer Amanda Rogers on a tour of some  lakes and waterways in their region, and up to the massive dairy conversions in the upper catchment of the Waikato River. It… ...
    GreensBy Catherine Delahunty MP
    1 week ago
  • More regional jobs go in Corrections reshape
    News that 194 Corrections staff are to lose their jobs will have ramifications not only for them and their families but for the wider community, Labour’s Corrections spokesperson Kelvin Davis says. Prison units at Waikeria, Tongariro and Rimutaka face closure… ...
    1 week ago
  • Government’s climate meetings off to a bumpy start
    On Wednesday, I attended a hui and an evening meeting that the Government had organised in Nelson as part of its climate change consultation tour, to support the Nelson community telling the Government to take meaningful action on climate change.… ...
    GreensBy Steffan Browning MP
    2 weeks ago
  • Taxpayers the only ones left feeling blue
    Ministry of Social Development bosses could have saved themselves thousands of dollars in consultants’ fees by providing staff with rose-tinted spectacles, Labour’s State Services spokesperson Kris Faafoi says. A report out today reveals the Ministry is spending over half a… ...
    2 weeks ago
  • Why are the regions still facing restrictions?
    Labour's Housing spokesperson Phil Twyford is questioning why the regions should continue to be saddled with LVR lending restrictions announced by the Reserve Bank today. “Labour has been calling for the regions to be exempted from LVRs for the best… ...
    2 weeks ago
  • The high costs of weak environmental regulation
    Te Waihora/Lake Ellesmere is described on the Department of Conservation website as “Canterbury’s largest and New Zealand’s fifth largest [lake], and an internationally important wildlife area.” But the lake is also polluted by nutrients leaching from farms in the catchment.… ...
    GreensBy Eugenie Sage MP
    2 weeks ago
  • Submissions to Wellington City Council on their Gambling Venues Policy
    Every three years Councils across the country are required to check that their gambling venue policies are still fit for purpose and they can choose to consult on their policy if they are thinking of making changes. Councils don’t have… ...
    GreensBy Denise Roche MP
    2 weeks ago
  • Reserve Bank action shows Govt out of touch and out of ideas
    The Reserve Bank’s unprecedented measures today show it understands the serious risks of the overheating housing market – in complete contrast to John Key’s refusal to acknowledge the crisis, Labour’s Finance spokesperson Grant Robertson says. “The Bank is right to… ...
    2 weeks ago
  • Send us your snaps: 25 Years of the Green Party
    This year we've hit a milestone. We're turning 25.To help celebrate a quarter of a century, please send us your photos from the last 25 years of the Green Party Aotearoa New Zealand! Note: Photos must be jpg, gif or… ...
    2 weeks ago
  • 25 Years of the Green Party
    This year the Green Party sends 25. To help us celebrate a quarter of a century please send us you photos of 25 years of the Green Party!Photos must be jpg,gif or png and smaller than 2MB. If you are… ...
    2 weeks ago
  • Bay growth plan too little too late
    Today’s Bay of Plenty growth study from MBIE is another example of Government spin - lots of talk but little action, says Labour’s Regional Development spokesperson David Cunliffe.  “This is a region that desperately needs to develop the downstream processing… ...
    2 weeks ago
  • Government bows to ACC pressure
     The Government has finally buckled to pressure from Labour and the New Zealand public in making a half billion dollar cut to ACC levies, but the full benefits are two years away,” says Opposition Leader Andrew Little.  “$500 million over… ...
    2 weeks ago
  • False figures cloud Auckland transport facts
    The Prime Minister should apologise and issue a correction after both he and Transport Minister Simon Bridges have been caught out misrepresenting facts on Auckland’s transport spending, Labour’s Housing spokesperson Phil Twyford says. "Both John Key and Simon Bridges have… ...
    2 weeks ago
  • Govt books confirm National can’t post surplus
    The last publication of the Government’s books before the budget shows National will break its promise of seven years and two election campaigns and fail to get the books in order, says Labour’s Finance Spokesperson Grant Robertson. “The Government is… ...
    2 weeks ago

Public service advertisements by The Standard

Current CO2 level in the atmosphere