Expansionary austerity – fail

Written By: - Date published: 9:00 am, April 21st, 2011 - 32 comments
Categories: economy, Keynes, monetary policy, national - Tags: ,

Expansionary austerity is the idea that cutbacks in government spending can stimulate economic growth. Sounds weird doesn’t it, but here’s the theory as argued by Britain’s current Chancellor of the Exchequer:

Osborne insists that Britain will enjoy what he calls “expansionary austerity”, because the knowledge that the government is getting to grips with the public finances will engender confidence and encourage private spending to replace the cuts in public spending.

This theory relies on a tighter fiscal policy (tax increases and spending cuts) allowing monetary policy (interest rates and the exchange rate) to remain loose. Cheap borrowing costs lead to higher investment, while the low pound stimulates exports. This, in turn, leads to a rebalancing of the economy.

The trouble with this theory is that it’s bollocks. Paul Krugman sums up:

The Stubborn Myth of Expansionary Contraction

Mike Konczal, a fellow at the Roosevelt Institute, has been writing lately in his economics blog, Rortybomb, about American conservatives’ continuing insistence that slashing government spending is actually expansionary, as embodied in a recent report from Republicans on the Joint Economic Committee.

As he says, it’s a remarkable thing: the empirical case for expansionary austerity has collapsed on examination, but the doctrine lives on regardless.

One thing Mike fails to note is that another recent paper on deficit reduction from the American Enterprise Institute, which is cited by that J.E.C. study in a way that might make you think that it supports the case for expansionary austerity, actually never provides any evidence to that effect; … It’s notable that the J.E.C. report also blithely cites Canada and Sweden in the 1990s as demonstrations of its case, even though both have in fact been extensively debunked. …

I have to say, it’s remarkable how quickly expansionary austerity has gone from interesting speculation to zombie idea, repeatedly killed by evidence but still shambling toward us, trying to eat our brains.

So the empirical evidence (see Konczal’s work here) doesn’t support the theory. But in Britain the Tories charged ahead with it anyway, slashing spending left right and centre. How’s that working out for them?

Is Osborne fit to run the economy – or to ruin it?

George Osborne is expecting ‘expansionary austerity’ to save the UK economy – which means things are going to get a whole lot worse for ordinary households

… This government has now been in power for almost a year and here’s a check list of their achievements so far. Unemployment, going down a year ago, is now going up. Real incomes fell last year for the first time since 1981 and are on course to fall again this year. Consumer confidence has slumped to levels seen in the depths of the recession. High street retailers are sending out profit warnings. And, to cap it all, the government has been forced to revise up its forecasts for the budget deficit.

… The empirical case against expansionary austerity is that it doesn’t seem to be working in Britain (or in any of the struggling eurozone countries), whereas good old fashioned fiscal expansion does seem to be doing the trick in the US.

Despite two years when bank rate has been pegged at 0.5%, there is a marked reluctance to borrow. Mortgage demand is running at half the levels seen in the 10 years leading up to the financial crisis, and lending to businesses is not picking up.

… Where is the evidence of expansionary austerity? Not in the balance of payments figures, which are getting worse not better. Not in the high street, where consumers would need to see their incomes rise by 6% to compensate for the price increases and tax rises of the past year. And not in the business community, where investment fell in the final three months of last year.

Not so good in practice then. Keynes gets the last laugh.

Right, pop quiz time. Can anyone think of another government, not a million miles from here, that is pinning its hopes on expansionary austerity? Another government that is ignoring the theoretical counter arguments and all the empirical evidence? Another government that is run by Tory fools and getting the same results as the same policies in England? Another government that is seeing its economy flatline, growth stalled, unemployment rising, costs spiralling out of control? Anyone? Anyone?

Makes you wonder doesn’t it. Just how stupid would we be to give these failed policies another term…

32 comments on “Expansionary austerity – fail ”

  1. mikesh 1

    “Expansionary austerity” sounds like Orwellian newspeak.

  2. Peter 2

    Key is on record of justifying his policies in terms of the so called “crowding out” effect which implies less Government  making room for more Private Sector growth. This, I would suggest, is his economic plan despite the critics saying he has not got one. This appears to be his version of “expansionary austerity”.
    So it’s simple really, cut Government spending and such issues as employment will eventually address themselves as the Private sector takes up the slack. Don’t expect the ship to turn around quickly but it will happen, trust me!
    This is what wikipedia has to say about crowding out;
    “However, this crowding-out effect might be moderated by the fact that government spending sometimes expands the market for private-sector products through the multiplier and thus stimulates – or “crowds in” – fixed investment (via the “accelerator effect“). This accelerator effect is most important when business suffers from unused industrial capacity, i.e., during a serious recession or a depression.”
     
    I’m a layman so it would be interesting to read other perspectives from the wise.

    • Key is on record of justifying his policies in terms of the so called “crowding out” effect which implies less Government making room for more Private Sector growth.

      Good grief. Has some finance “journalist” asked him what is the specific sectors in which he believes government is supposedly “crowding out” the private sector, and what is his evidence for this?!

      In theory this can happen, but given the reforms since the 1980s I would think NZ is the last country in the entire world where this could be said to be occurring.

      • Colonial Viper 2.1.1

        However, it may be too much to ask that our financial and economics “journalists” ask good questions of our leaders and demand real answers.
         
        The simple point is that the Government provides a lot of demand and a lot of sales orders for private business, and when Government stops spending, private businesses hurt and fail.

      • Peter 2.1.2

        He said it, almost as a slip of the tongue, on Q&A a few weeks back. As far as I am aware it is his only reference to the philosophy behind cuts.

      • KJT 2.1.3

        Yeah right.
        Doctors. Teachers, building regulators, power suppliers, state infrastructure, Police crowd out the private sector.

        No State has ever had an efficient and prosperous private sector without a fully functional State.

        The private sector alone results in Anarchy and poverty. Somalia.

        The highly regulated, and taxed, mixed economies of Western Europe have been the most successful States in History.

        The USA, Ireland, UK, NZ and other states that have followed the “free market’ Neo-Liberal Freidmanite dogma of meanness, globalisation of capital and theft from citizenry are fast heading for failure.

  3. Carol 3

    I’m not sure my point is relevant to this issue, but it seems so to me.  These right wing, neoliberal policies seem to me to be a justification for cutting back on the public sector, privatising all activities, whether useful to society or not, and delivering them to the international corporate elite and thereby expanding their profits.
     
    I don’t know a lot about economics, but ever since I first read some introduction to economic theory, I’ve never understood the logic of differentiating between “tradeable’ and non-tradeable” enterprises.  I hear the same arguments being repeated by politicicans like Bill English today.  So tradeable refers to anything that can be traded internationally, and non-tradeable to economic/financial actitivites that can’t be traded internationally.  But this just seems to me to be a cover for cutting back on the public sector.
     
    And I’ve never understood how having all countries trading stuff with each other, including stuff countries can produce for themselves, somehow magically makes us all more wealthy.  eg, why are we buying oranges from California, when we produce them ourselves & vice versa?

    • Draco T Bastard 3.1

      And I’ve never understood how having all countries trading stuff with each other, including stuff countries can produce for themselves, somehow magically makes us all more wealthy.

      That load of bollocks comes from the idea of specialisation. A single person can’t learn everything and so it’s better if individuals specialise. Unfortunately, the stupid idiots (otherwise known as economists) have expanded the idea to include entire societies.

      • Carol 3.1.1

        Thanks.  So I was correct to be suspicious.  This information was presented in a very introductory textbook, as though it was gospel. You’d think more economists would also have seen the problems with the concept.

        • Colonial Viper 3.1.1.1

          Young economists got granted their PhDs extending worthless economic theory by impressing those established older PhD economists who had come up with the original worthless economic theory in the first place.
           
          It became an entire circular game. Not corrupt, but clearly pandering.

        • Draco T Bastard 3.1.1.2

          This information was presented in a very introductory textbook, as though it was gospel.

          That’s because it’s treated as gospel by nearly every economist in the world. I’ve got university level textbooks, written by Ben Bernanke in fact, that treats it the exact same way.

          You’d think more economists would also have seen the problems with the concept.

          You’d think so but, then, we’re dealing with a field that started with a few assumptions a couple of centuries ago and those assumptions haven’t been changed in all that time despite the fact that documented reality has proven those assumptions wrong.

  4. Colonial Viper 4

    Well its time for the Left to reframe this as “Same old shit, different spin”
     
    People know this is a bunk, they have lived through cycles and cycles of this before.
     
    Tell them that China and Singapore are laughing at the west bleeding itself out economically (while they themselves invest billions back into their people and infrastructure), as if we are still in the 18th century of medicine with leeches and blood letting.
     
    Cameron/Osbourne, Key/English are the economic quack doctors of the western world.

  5. ASA 5

    Going by the repeated opinion poll results, it appears that NZers may indeed be that collectively stupid, unless something significant changes in the next 7 months. The bigger question would be to enquire why the NZ media isn’t producing economic analyses similar to the Guardian article. Wouldn’t be hard – just some some substitutions needed e.g. English for Osborne, New Zealand for Britain, National for Conservatives and so on. This would mean the article could just about be used as is, for the situation here is frighteningly similar. Then again, who do our media owe their loyalties to?

    • Bored 5.1

      ASA. I am not sure that NZers may indeed be that collectively stupid, it is more likely the old mushroom syndrome i.e kept in the dark and fed bullshit. By the very same media and corporate smokescreen you question the ownership of.

      My hope is that we as a society have a Damascene moment of clarity, the events that are likely to bring this on are “peak bloody everything”. This will be the moment when we realise that what we have aspired to, what we have believed to be true has been an edifice of contrived bullshit. In between times we will aspire, and as a consequence be robbed blind by those who have.

    • Peter 5.2

      True,  there is plenty of stuff out there (http://www.bryangould.net/id150.html) but the more I get into this the more I realise that our main newspaper is by and large running agendas ( a bit like FOX News). Far easier to divert attention with Polls, Stop Signs and helicopter discussions …… maybe SST will do something.
      As always the vast majority of voters are not interested, so it gets back to packaging alternatives that they will act upon. Winston, as we know, is good at it. National as always effectively justify the status quo with Fear Uncertainty and Doubt. Labour? Greens?
       

  6. JJ 6

    Yeah man, that trickle down effect, just flies in the face of human nature. But then again so does the idea of socialist utopia, we all know what a hell on earth those ideas created.
    What to do though? Seems to me the country (the whole world) is freaking broke. I guess somebody has all the money though!

    • Colonial Viper 6.1

      A socialist utopia is exactly what we should aim for JJ.
       
      And we know how to do it.
       
      Take a share of the money and assets from those who are most wealthy and use it to provide common services, support and facilities that everyone in the society can use.
       
      Then empower ordinary people to become decision makers and participants in the every day running of their workplaces, their communities, their cities.
       
      Pretty fraking easy really.

      But then again so does the idea of socialist utopia, we all know what a hell on earth those ideas created.

      What, as opposed to the tens of thousands of people dying in the richest country in the world every year because they can’t access healthcare? And the hundreds of thousands more who go broke and suffer family breakups because they can’t afford medical bills?

      What do you call that?

  7. Another great post r0b.
     
    Nail on head? Hit perfectly.

  8. Afewknowthetruth 8

    It’s all very simple. So simple most people refuse to see it and prefer to tie themselves up in knots of economic theory completely detached from reality. Economics, as practised in the modern world, has no validity whatsoever. It’s all bunk. Economics assumes cheap and readily available resources will appear as if by magic whenever needed. Economics never mentions the huge costs of global pollution. The real world is not like that. Sure, in the past there were cheap resources that could be readily obtained and the Earth did manage to recover from most of the crap we threw at it. But that game is now over, especially the cheap energy game.   

    One year ago Brent oil was around $80. Today it’s over $120.

    That 50% increase in the cost of the prime driver of the economy has led to a global economic squeeze. No amount of jigging with interest rates, tax rates or anything else will alter the fact that the global system is slowly imploding due to competition for declining resources.  

    By the way, just to get the big picture, a decade ago oil was around $20 a barrel. It’s now  6 times that.

    As global oil extraction falls further down Hubbert’s curve we will see ever faster contraction of most sectors of the economies of most nations. The price of oil will continue to rise and money will continue to devalue. At some stage in the fairly near future the entire system will go kaput……probably around 2015 the way things are panning out at the moment.

    The success of China is merely a facade. It is pulling in international dollars simply because the Yuan is so grossly undevalued and workers get such low wages by international standards.  China is dependent on ever increasing imports of energy and resources to maintian its bubble economy, and will fall just like the rest eventually.

    We should also note that most of the money in the system doesn’t exist and has been conjured out of thin air via loans. It’s all a Ponzi scheme. The value of money continues to fall. Gold has gone from below $750 five years ago to over $1500 now. China has been buying up gold of course, whereas the saboteurs who operate western governments have been selling it.

    The ultimate aim of the secretive elites who really running the show seems to be to create a feudal society in the west, a society in which proles are reduced to existence at the peasant level while a gang of elites lords it over them. John Key is just practising at the moment.

    What I find fascinating is tenacity with which people hang on to redundant paradigms and just keep churning out garbage analysis based on fantasies. There seems to be some kind of consensus amongst mainstream commentators that if we ignore the elephants in the room they won’t damage the furniture or knock the walls down.  

    • uke 8.1

      What I find fascinating is tenacity with which people hang on to redundant paradigms and just keep churning out garbage analysis based on fantasies. There seems to be some kind of consensus amongst mainstream commentators that if we ignore the elephants in the room they won’t damage the furniture or knock the walls down.

      Possibly it’s because the idea of Growth and Progress are in effect reality principles wired into the Western mindset. They have an unshakeable existential and spiritual solidity. People cannot conceive of an economy without the goal of Growth, any more than they can conceive of Time running backwards.

  9. “Trickle down economics” is PC speak for the rich pissing on the poor.

  10. PeteG 10

    This post takes a narrow view.
    Is there no such thing as wasteful or too much government spending? Why shouldn’t the major expansion of the public sevice and public spending under the last Labour government be scutinised for value for money?
     
    It’s just possible that the aim is to cut unecessary costs when there isn’t much money available.
     
    The “expand when the economy is good, expand when the economy is bad” approach is flawed. When should government spending increase – good times or bad?

    • Draco T Bastard 10.1

      The economy cannot expand beyond the limits of the environment and government spending is, in a democracy such as ours, the spending of the people. Government is not divorced from its society – no matter how much you RWNJs want to portray it as such.

  11. Afewknowthetruth 11

    ‘Makes you wonder doesn’t it. Just how stupid would we be to give these failed policies another term…’

    Very true. The problem is, Labour is locked into the same kind of dysfucntional economic garbage as National, all of it predicated on economic growth that cannot occur and predicated on ignoring the environmental catastrophe that is gathering pace.   

    And Ben, when are you going to recognise that we are at ‘peak everything’ (as Bored has again pointed out) and start formulating policies that are appropriate to the times we live in? At the moment you seem to be avoiding reality like the plague! Or is your ‘plan’ to quietly drive NZ off the cliff slightly more slowly than National is currently doing?

    We are still waiting for answers.

    We’ve been wating for answers for many weeks.

    You can only keep hiding for so long.

    The truth is going to get you in the end.

    • Draco T Bastard 11.1

      The problem is, Labour is locked into the same kind of dysfucntional economic garbage as National, all of it predicated on economic growth that cannot occur and predicated on ignoring the environmental catastrophe that is gathering pace.

      Exactly. A rational economy would look to minimising use of natural resources. The capitalist free-market economy works by using those resources up as fast as possible so as to maximise profits which results in everybody having nothing at all.
       
      The capitalist free-market is completely irrational but that shouldn’t be a surprise – it was, after all, designed by psychopaths (the capitalists).

  12. Peter 12

    I don’t believe this post is a discussion about value for money, it’s actually about the best way forward, and the potential pitfalls of Key’s economic assumptions. Playing the private and public sectors off against each other does not do it for me, although it is clearly a vote catcher.
    The real question is how should both sectors work together because neither is going away? After all right now the Government is spending an awful lot of money on RWC. You could be cynical enough to believe they are using civil servants to help their election prospects, or more positively to boost the prospects of private sector exporters. Why is it that we don’t hear gratitude from the private sector for the support and business opportunities offered by the public sector?
    If you take Natonal’s narrative to the extreme you would easily believe that we would all be far better-off if the balance was something like Public (bad) 10% and Private (good) 90% of GDP. I’m sure there are people reading this who could provide you with international evidence that more Government would be an improvement. Besides if that’s where we are heading why haven’t the private sector provided the extra jobs required, plenty of people are waiting.
    But ,if you want to turn the discussion to so called efficiency! Why shouldn’t the private sector also be scrutinised for value for money? For example AMI insurance policies, shonky property development, collapsing finance companies, the  social cost of alcohol abuse unpaid for by “big beer”, the economic and social cost of high unemployment, the overseas sell-off of badly run NZ owned companies, virtual monopolies such as SKY, media company bailouts, the South Canterbury bailout, and if you like using airforce helicopters to dash-off to PR photo-opportunities.
    Without Nationals  convenient use of the public sector where would they and the private sector be right now?

    • Colonial Viper 12.1

      Well let’s remember first principles here: the structure and running of the economy should primarily be for the good of the society.
       
      Not the other way around.

    • Draco T Bastard 12.2

      Why shouldn’t the private sector also be scrutinised for value for money?

      Because then the delusion that the private sector is inherently more efficient than government would be shown for what it is – a delusion.

      Without Nationals  convenient use of the public sector where would they and the private sector be right now?

      Collapsing. That has always been true of conservative government though. As much as they rail against Big Government they’re usually the ones that use the government most. Usually in subsidies, bailouts and pork barrel politics.

      • KJT 12.2.1

        An occasional left wing Government is a necessity, for Neo-Liberal types, to build things up so they can rob us again. As they are too incompetent to make their own businesses work they have to steal the public’s.
        Round one 1984 to 1990,s started it. The first ACT Government, then National. Now they are back for another go.
        I wonder which failed private businesses, which buy into necessary infrastructure, we will have to bail out or buy back this time.

Recent Comments

Recent Posts

  • EV road user charges bill passes
    Transport Minister Simeon Brown has welcomed the passing of legislation to move light electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs) into the road user charges system from 1 April.  “It was always intended that EVs and PHEVs would be exempt from road user charges until they reached two ...
    BeehiveBy beehive.govt.nz
    6 hours ago
  • Bill targets illegal, unregulated fishing in international waters
    New Zealand is strengthening its ability to combat illegal fishing outside its domestic waters and beef up regulation for its own commercial fishers in international waters through a Bill which had its first reading in Parliament today. The Fisheries (International Fishing and Other Matters) Amendment Bill 2023 sets out stronger ...
    BeehiveBy beehive.govt.nz
    7 hours ago
  • Reserve Bank appointments
    Economists Carl Hansen and Professor Prasanna Gai have been appointed to the Reserve Bank Monetary Policy Committee, Finance Minister Nicola Willis announced today. The Monetary Policy Committee (MPC) is the independent decision-making body that sets the Official Cash Rate which determines interest rates.  Carl Hansen, the executive director of Capital ...
    BeehiveBy beehive.govt.nz
    8 hours ago
  • Stronger protections for apartment owners
    Apartment owners and buyers will soon have greater protections as further changes to the law on unit titles come into effect, Housing Minister Chris Bishop says. “The Unit Titles (Strengthening Body Corporate Governance and Other Matters) Amendment Act had already introduced some changes in December 2022 and May 2023, and ...
    BeehiveBy beehive.govt.nz
    10 hours ago
  • Travel focused on traditional partners and Middle East
    Foreign Minister Winston Peters will travel to Egypt and Europe from this weekend.    “This travel will focus on a range of New Zealand’s traditional diplomatic and security partnerships while enabling broad engagement on the urgent situation in Gaza,” Mr Peters says.   Mr Peters will attend the NATO Foreign ...
    BeehiveBy beehive.govt.nz
    11 hours ago
  • Keep safe on our roads this Easter
    Transport Minister Simeon Brown is encouraging all road users to stay safe, plan their journeys ahead of time, and be patient with other drivers while travelling around this Easter long weekend. “Road safety is a responsibility we all share, and with increased traffic on our roads expected this Easter we ...
    BeehiveBy beehive.govt.nz
    13 hours ago
  • Cost of living support for over 1.4 million Kiwis
    About 1.4 million New Zealanders will receive cost of living relief through increased government assistance from April 1 909,000 pensioners get a boost to Superannuation, including 5000 veterans 371,000 working-age beneficiaries will get higher payments 45,000 students will see an increase in their allowance Over a quarter of New Zealanders ...
    BeehiveBy beehive.govt.nz
    14 hours ago
  • Tenancy reviews for social housing restart
    Ensuring social housing is being provided to those with the greatest needs is front of mind as the Government restarts social housing tenancy reviews, Associate Housing Minister Tama Potaka says. “Our relentless focus on building a strong economy is to ensure we can deliver better public services such as social ...
    BeehiveBy beehive.govt.nz
    14 hours ago
  • Kermadec Ocean Sanctuary plan halted
    The Kermadec Ocean Sanctuary will not go ahead, with Cabinet deciding to stop work on the proposed reserve and remove the Bill that would have established it from Parliament’s order paper. “The Kermadec Ocean Sanctuary Bill would have created a 620,000 sq km economic no-go zone,” Oceans and Fisheries Minister ...
    BeehiveBy beehive.govt.nz
    14 hours ago
  • Cutting all that dam red tape
    Dam safety regulations are being amended so that smaller dams won’t be subject to excessive compliance costs, Minister for Building and Construction Chris Penk says. “The coalition Government is focused on reducing costs and removing unnecessary red tape so we can get the economy back on track.  “Dam safety regulations ...
    BeehiveBy beehive.govt.nz
    15 hours ago
  • Drought support extended to parts of North Island
    The coalition Government is expanding the medium-scale adverse event classification to parts of the North Island as dry weather conditions persist, Agriculture Minister Todd McClay announced today. “I have made the decision to expand the medium-scale adverse event classification already in place for parts of the South Island to also cover the ...
    BeehiveBy beehive.govt.nz
    16 hours ago
  • Passage of major tax bill welcomed
    The passing of legislation giving effect to coalition Government tax commitments has been welcomed by Finance Minister Nicola Willis.  “The Taxation (Annual Rates for 2023–24, Multinational Tax, and Remedial Matters) Bill will help place New Zealand on a more secure economic footing, improve outcomes for New Zealanders, and make our tax system ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Lifting economy through science, tertiary sectors
    Science, Innovation and Technology Minister Judith Collins and Tertiary Education and Skills Minister Penny Simmonds today announced plans to transform our science and university sectors to boost the economy. Two advisory groups, chaired by Professor Sir Peter Gluckman, will advise the Government on how these sectors can play a greater ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Government announces Budget priorities
    The Budget will deliver urgently-needed tax relief to hard-working New Zealanders while putting the government’s finances back on a sustainable track, Finance Minister Nicola Willis says.  The Finance Minister made the comments at the release of the Budget Policy Statement setting out the Government’s Budget objectives. “The coalition Government intends ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Government to consider accommodation solution
    The coalition Government will look at options to address a zoning issue that limits how much financial support Queenstown residents can get for accommodation. Cabinet has agreed on a response to the Petitions Committee, which had recommended the geographic information MSD uses to determine how much accommodation supplement can be ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Government approves extension to Royal Commission of Inquiry into Abuse in Care
    Cabinet has agreed to a short extension to the final reporting timeframe for the Royal Commission into Abuse in Care from 28 March 2024 to 26 June 2024, Internal Affairs Minister Brooke van Velden says.                                         “The Royal Commission wrote to me on 16 February 2024, requesting that I consider an ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • $18m boost for Kiwis travelling to health treatment
    The coalition Government is delivering an $18 million boost to New Zealanders needing to travel for specialist health treatment, Health Minister Dr Shane Reti says.   “These changes are long overdue – the National Travel Assistance (NTA) scheme saw its last increase to mileage and accommodation rates way back in 2009.  ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • PM’s Prizes for Space to showcase sector’s talent
    The Government is recognising the innovative and rising talent in New Zealand’s growing space sector, with the Prime Minister and Space Minister Judith Collins announcing the new Prime Minister’s Prizes for Space today. “New Zealand has a growing reputation as a high-value partner for space missions and research. I am ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Concerns conveyed to China over cyber activity
    Foreign Minister Winston Peters has confirmed New Zealand’s concerns about cyber activity have been conveyed directly to the Chinese Government.     “The Prime Minister and Minister Collins have expressed concerns today about malicious cyber activity, attributed to groups sponsored by the Chinese Government, targeting democratic institutions in both New ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Independent Reviewers appointed for School Property Inquiry
    Independent Reviewers appointed for School Property Inquiry Education Minister Erica Stanford today announced the appointment of three independent reviewers to lead the Ministerial Inquiry into the Ministry of Education’s School Property Function.  The Inquiry will be led by former Minister of Foreign Affairs Murray McCully. “There is a clear need ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Brynderwyns open for Easter
    State Highway 1 across the Brynderwyns will be open for Easter weekend, with work currently underway to ensure the resilience of this critical route being paused for Easter Weekend to allow holiday makers to travel north, Transport Minister Simeon Brown says. “Today I visited the Brynderwyn Hills construction site, where ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Speech to the Infrastructure Funding & Financing Conference
    Introduction Good morning to you all, and thanks for having me bright and early today. I am absolutely delighted to be the Minister for Infrastructure alongside the Minister of Housing and Resource Management Reform. I know the Prime Minister sees the three roles as closely connected and he wants me ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Parliamentary network breached by the PRC
    New Zealand stands with the United Kingdom in its condemnation of People’s Republic of China (PRC) state-backed malicious cyber activity impacting its Electoral Commission and targeting Members of the UK Parliament. “The use of cyber-enabled espionage operations to interfere with democratic institutions and processes anywhere is unacceptable,” Minister Responsible for ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • NZ to provide support for Solomon Islands election
    Foreign Minister Winston Peters and Defence Minister Judith Collins today announced New Zealand will provide logistics support for the upcoming Solomon Islands election. “We’re sending a team of New Zealand Defence Force personnel and two NH90 helicopters to provide logistics support for the election on 17 April, at the request ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • NZ-EU FTA gains Royal Assent for 1 May entry to force
    The European Union Free Trade Agreement Legislation Amendment Bill received Royal Assent today, completing the process for New Zealand’s ratification of its free trade agreement with the European Union.    “I am pleased to announce that today, in a small ceremony at the Beehive, New Zealand notified the European Union ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • COVID-19 inquiry attracts 11,000 submissions
    Public consultation on the terms of reference for the Royal Commission into COVID-19 Lessons has concluded, Internal Affairs Minister Hon Brooke van Velden says.  “I have been advised that there were over 11,000 submissions made through the Royal Commission’s online consultation portal.” Expanding the scope of the Royal Commission of ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Families to receive up to $75 a week help with ECE fees
    Hardworking families are set to benefit from a new credit to help them meet their early childcare education (ECE) costs, Finance Minister Nicola Willis says. From 1 July, parents and caregivers of young children will be supported to manage the rising cost of living with a partial reimbursement of their ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Unlocking a sustainable, low-emissions future
    A specialised Independent Technical Advisory Group (ITAG) tasked with preparing and publishing independent non-binding advice on the design of a "green" (sustainable finance) taxonomy rulebook is being established, Climate Change Minister Simon Watts says.  “Comprising experts and market participants, the ITAG's primary goal is to deliver comprehensive recommendations to the ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Chief of Army thanked for his service
    Defence Minister Judith Collins has thanked the Chief of Army, Major General John Boswell, DSD, for his service as he leaves the Army after 40 years. “I would like to thank Major General Boswell for his contribution to the Army and the wider New Zealand Defence Force, undertaking many different ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Minister to meet Australian counterparts and Manufacturing Industry Leaders
    25 March 2024 Minister to meet Australian counterparts and Manufacturing Industry Leaders Small Business, Manufacturing, Commerce and Consumer Affairs Minister Andrew Bayly will travel to Australia for a series of bi-lateral meetings and manufacturing visits. During the visit, Minister Bayly will meet with his Australian counterparts, Senator Tim Ayres, Ed ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Government commits nearly $3 million for period products in schools
    Government commits almost $3 million for period products in schools The Coalition Government has committed $2.9 million to ensure intermediate and secondary schools continue providing period products to those who need them, Minister of Education Erica Stanford announced today. “This is an issue of dignity and ensuring young women don’t ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Speech – Making it easier to build.
    Good morning, it’s great to be here.   First, I would like to acknowledge the New Zealand Institute of Building Surveyors and thank you for the opportunity to be here this morning.  I would like to use this opportunity to outline the Government’s ambitious plan and what we hope to ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Pacific youth to shine from boost to Polyfest
    Minister for Pacific Peoples Dr Shane Reti has announced the Government’s commitment to the Auckland Secondary Schools Māori and Pacific Islands Cultural Festival, more commonly known as Polyfest. “The Ministry for Pacific Peoples is a longtime supporter of Polyfest and, as it celebrates 49 years in 2024, I’m proud to ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • 2024 Ngarimu VC and 28th (Māori) Battalion Memorial Scholarships announced
    ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Speech to Breast Cancer Foundation – Insights Conference
    Before moving onto the substance of today’s address, I want to recognise the very significant and ongoing contribution the Breast Cancer Foundation makes to support the lives of New Zealand women and their families living with breast cancer. I very much enjoy working with you. I also want to recognise ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Kiwi research soars to International Space Station
    New Zealand has notched up a first with the launch of University of Canterbury research to the International Space Station, Science, Innovation and Technology and Space Minister Judith Collins says. The hardware, developed by Dr Sarah Kessans, is designed to operate autonomously in orbit, allowing scientists on Earth to study ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Speech to the New Zealand Planning Institute
    Introduction Thank you for inviting me to speak with you today and I’m sorry I can’t be there in person. Yesterday I started in Wellington for Breakfast TV, spoke to a property conference in Auckland, and finished the day speaking to local government in Christchurch, so it would have been ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Support for Northland emergency response centre
    The Coalition Government is contributing more than $1 million to support the establishment of an emergency multi-agency coordination centre in Northland. Emergency Management and Recovery Minister Mark Mitchell announced the contribution today during a visit of the Whangārei site where the facility will be constructed.  “Northland has faced a number ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Celebrating 20 years of Whakaata Māori
    New Zealanders have enjoyed a broader range of voices telling the story of Aotearoa thanks to the creation of Whakaata Māori 20 years ago, says Māori Development Minister Tama Potaka. The minister spoke at a celebration marking the national indigenous media organisation’s 20th anniversary at their studio in Auckland on ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Some commercial fishery catch limits increased
    Commercial catch limits for some fisheries have been increased following a review showing stocks are healthy and abundant, Ocean and Fisheries Minister Shane Jones says. The changes, along with some other catch limit changes and management settings, begin coming into effect from 1 April 2024. "Regular biannual reviews of fish ...
    BeehiveBy beehive.govt.nz
    7 days ago

Page generated in The Standard by Wordpress at 2024-03-28T10:46:51+00:00