web analytics

Government in trouble over Meridian Float

Written By: - Date published: 8:33 pm, October 23rd, 2013 - 34 comments
Categories: bill english, john key, Privatisation, same old national - Tags:

emerson-privatisation

The results of the Meridian share float have been announced and they pose a whole lot of problems for the Government.

Meridian is a company which was valued at $6 billion in 2011.  The sale of 49% of its shares at $1.50, at the low end of estimates, gives the company a market value of $3.84 billion.

The Government thought that it would have 250,000 mum and dad investors in each of the planned floats.  Mighty River Power had 116,000 and Meridian is down to 62,000.

And 13% of its shares will be owned by overseas interests, not Kiwi mum and dad investors.  And they will be financed into the transaction.

As a sign of how bad things are Bill English was sent out to make the announcement.  John Key was no where to be seen.

If you ever needed to be persuaded that selling what are long term strategically vital assets for peanuts is a bad idea then this should provide it.

Update:

Thanks Pascal’s bookie for this comment from local mike:

“Cosgrove’s statement here:

http://www.voxy.co.nz/politics/meridian-sale-failure-cosgrove/5/171716?utm_source=twitterfeed&utm_medium=twitter

“I don’t know how John Key and Bill English can look the taxpayers of New Zealand in the face. They have they sold half of a valuable long term asset for $1.2 billion less than they told the public they would sell it for in 2011. And just 62,000 retail investors, including institutions, bought shares.

“John Key and Bill English threw everything they could at making this sale a success, even offering a Suzanne Paul-style buy now – pay later scheme. Despite offering everything but a free set of steak knives just 62,000 people wanted to buy in.

“The number of investors in Meridian is half that of Mighty River, which was half that of Contact Energy when the National Government sold it in 1999. At this rate of success they will be paying people to buy Genesis Energy shares.

Greens here:

http://www.voxy.co.nz/politics/meridian-another-failure-national%E2%80%99s-asset-sales-greens/5/171717?utm_source=twitterfeed&utm_medium=twitter

Only 62,000 retail shareholders have bought shares in Meridian Energy. That compares to 113,000 who bought shares in Mighty River Power and an expected take-up of 250,000 buyers per sale when the asset sales were being planned. 62,000 equates to just 1.4% of the New Zealand population.

Buyers will reap the benefit of paying only $1 per share up front and the remaining 50 cents in 18 months’ time – the total cost to the Crown of these interest free loans will be $50 million. Overseas investors bought 28% of the shares sold (13.5% of the company), meaning the New Zealand taxpayer is paying $14 million to incentivise foreign institutions to buy our electricity company.

“The Meridian flop confirms that National’s asset sales are a failure and a huge waste money,” said Dr Norman.

“Only 1% of Kiwis bought shares in Meridian. The other 99% of us have lost the profits from a strategic asset and can now look forward to higher power prices.

“The Meridian sale cost around $90 million. We know the ‘buy now, pay later’ scheme alone will set taxpayers back $50 million while the fees for brokers, lawyers, and ad-men will add around $40 million to the bill. That’s on top of the $173 million that National’s asset sales have already cost the taxpayer.

“Mr Key has just cost the New Zealand taxpayer $14 million to subsidise overseas buyers as they swoop in to take a chunk of Meridian and its profits.”

34 comments on “Government in trouble over Meridian Float”

  1. Bunji 1

    In 2011 they said that the sales would raise as much as $10 billion – now they’re not going to get anywhere near half that.

    Even if you agreed with the principle of selling off important strategic assets; even if the fact that they have a higher rate of return that the govt cost of borrowing didn’t turn your head; the sheer incompetence of giving away these assets for so little to so few people – the 1.4% – should surely make you wonder about this government’s desperation to sell when they can’t get a decent price.

    • Bunji 1.1

      This is a MAJOR hole in National’s books. They’re relying on this to be the bulk of their “$5-$7 billion” guesstimate that they’re running our economy on.
      So Mighty River $1.7 billion, Meridian $1.88 billion, they can get $300 million for Air NZ if they don’t release the shares all in one go and flood the market (although given their current form…), plus what for Genesis? $600 million topside? But the number of investors available is diminishing, and the appetite for energy companies further ruining the balance of your share portfolio is diminishing…

      There’s no chance they’re going to get more than $4.5 billion total out of these sales.

      We’ve been ripped off as owners of these assets. We didn’t want to sell, and our agents have got us an horrendous price.

      • mickysavage 1.1.1

        Yep the next question is could the Government cancel the float after seeing the offers (which I am sure they could do) and if so then why didn’t they do it?

        They are selling strategically vital assets for peanuts.

        • Draco T Bastard 1.1.1.1

          They’re selling them on ideology (their belief that rich people should own everything as was true under feudalism) and because of that there’s no way that they would stop the sales.

          • thatguynz 1.1.1.1.1

            Or is it more that those that they truly represent told them to?

            • Tigger 1.1.1.1.1.1

              They have to sell them. This has been Key’s plan ever since those Hollow Man days when he was installed to turn National into NACTional.

  2. Lanthanide 2

    There was an apparently baseless story on stuff a few days ago saying that the offer was likely to be oversubscribed and allocations would be scaled back from what was requested. A few days before that there was a story about how the price would be towards the upper end of the $1.50-1.80 range.

  3. Pascal's bookie 3

    Norman’s final zinger in that release is a pretty funny:

    “It’s hard to do a belly flop while simultaneously giving 99% of New Zealanders the fingers, but John Key has shown that it is possible”

    And Key can’t really take a shot back coz his MOM sux and he’ll look like a fool. Just has to take it.

  4. appleboy 4

    What a bunch of crooks. This is a total failure and should be screamed out loud by Labour and the Greens at every opportunity until the next election where kiwis hopefully will have seen this bunch of wankers for the lying thieving scum they are, and vote them out.

    • Anne 4.1

      There’s one word to sum it up from start to finish, and from the top of the political tree to the bottom – 3 times for impact:

      GREED… GREED… GREED.

      • Draco T Bastard 4.1.1

        That and control because once all the commons is sold off to the rich everyone else will have to do what they say.

  5. newsense 5

    What does Key care?

    He’s about done his dash surely, sent most of the things that he was able to tits up, transferred as much wealth and privilege as possible and now, especially if the polls get much worse, is about to swan off to Hawaii before some diplomatic post in Hollywood leaving the rest of the Nats to the fighting and the mess behind him…

    • Mike S 5.1

      Yep, and I’m sure his ‘blind’ trust will have snapped up plenty of shares, I can picture him sitting in a corner snorting and sniveling and rubbing his hands in glee..

  6. bad12 6

    A convenient announcement from National on a Wednesday night knowing that Slippery the Prime Minister wont be in the House tomorrow to answer any questions,

    Are these people really attached to planet earth by anything other than an over-supply of weighty excrement which stops them all floating off someplace else,

    Trying to micro-manage this FLOP of a sale of what we all already own as far as the bad news goes for National is going to look something like lighting a match in an Australian bushfire, probably not what would be seen as the brightest of ideas but will anyone notice as the fucking lot of them are incinerated by the roaring public wrath that will be the inevitable consequences of what is in essence the final dance at the ball of the village idiots,

    If anyone doubted it, think again, this will finish National and as the roaring for blood escalates watch those bastards tear each other apart like a pack of rabid dogs….

  7. Colonial Viper 7

    We’re selling valuable strategic energy assets in exchange for currency which is generated out of thin air by the billions via a few computer key strokes.

    Have a think about how wrong that is.

  8. Steve 8

    This is a cock up of epic proportions and I wonder how many Meridian prospectuses they printed? No doubt there will be an OIA request being filed on that one.
    I really don’t think Key could bear the thought of making a concession speech at the next election. If the polls continue to show National’s slide I expect him to cut loose early next year pushing aside women and children as he scrambles for the exit.

  9. Lionel 9

    Key is corrupt he will bail for sure don’t put it past the piece of s#*# to try and organise a knighthood for himself watched him in the house today as Meterei Turei tried to nail him down would’nt answer questions and resorted to smart arse answers which included a insincere retraction and apology asked from by the speaker who was reluctant to stick that on him
    he’s hardly partial is David Carter

  10. ScottGN 10

    Bill English is blaming the low interest and low price for the the shares on the Labour and Green power policy. So he’s basically saying that investors were scared off because they have factored in a likely change of government next year? Great news Bill!

  11. phil 11

    The good news is that there has been a huge transfer of wealth here, speeding up the downfall of a desperate and traitorous government. If Labour, in Govt, had the smarts they should freeze the price and renationalize the electricity sector. Where is Max Bradford, and his tory mates began this festering mess. How do you put Humpty Dumpty back together again? You hatch a new egg.

  12. Tracey 12

    Where are all the folks lauding mr keys trading skills and nouse?

  13. Ant 13

    So what’s going to give now so Key/English can make their feel good election year surplus? Interest free student loans?

  14. Crunchtime 14

    Those numbers are especially damning… There’s been a lot of talk of the 1% who control most of the resources of the world. Here in NZ we have the 1% who own shares in our power company. The other 99% are less than impressed.

  15. blue leopard (Get Lost GCSB Bill) 15

    Compare the numbers in this article to the approx 51% of voters (or by my rough calculations: 1, 139,901 people) who voted for parties that opposed asset sales and one can see another good reason for politicians to listen to what the electorate tells them.

    http://www.electionresults.govt.nz/electionresults_2011/partystatus.html

    What an incompetent government we have.

  16. Steve Bradley 16

    Steven Joyce is describing members of Parliament who oppose the government’s policy on asset sales as ‘communists’ and their actions as ‘sabotage’. This is extreme language – trying to demonise another group of loyal dissidents. I feel sorry for S. Joyce and I am worried about his physical health: up close he doesn’t look well, distinctly seedy even. Perhaps he needs an extended vacation.

    Now, the extremity of his language raises concerns about his mental health. ‘Sabotage’ is a capital crime and once was punished by hanging, or at least 14 years transportation to Sydney Town. This is a serious allegation to make – trying a cunning twist to turn a policy dispute into a crime against the State. We’ve heard all this before in the Twentieth Century from leaders with no sense of democratic accountability.

    The National government is quite happy to loot the patrimony of Aotearoa but extremely reluctant to use the power of the state to help the struggling residents of this state.

    Labour’s promises to workers about the minimum and living wages is chundered on by Joyce saying on TV, “you can’t raise wages by fiat.” Of course you can. You just need a simple majority in Parliament. Roll on the General Election.

    • Tat Loo 16.1

      Labour’s promises to workers about the minimum and living wages is chundered on by Joyce saying on TV, “you can’t raise wages by fiat.” Of course you can. You just need a simple majority in Parliament.

      Apparently the Remuneration Authority is going to raise the wages of Parliamentarians by fiat.

      Joyce doesn’t seem to have any problem with that, though.

  17. tricledrown 17

    Phil the new egg could be just building a few more wind farms to put downward pressure on clean energy .
    Cheaper than buying back.

Recent Comments

Recent Posts

  • Nick Smith: There is NO crisis
    MyThinks has been fielding many questions about Nick Smith. “What’s happening with housing?” “Does Nick Smith know anything about any of his policy areas?” “Why does he look so shifty when he’s telling us what we should think?” These are… ...
    My ThinksBy boonman
    10 hours ago
  • Tracking the 2°C Limit – April 2016
    April is starting to come down off the shockingly high anomalies of the first couple of months of this year. GISS is clocking in a still strong warm anomaly of 1.11°C. This is by far the hottest April in the… ...
    12 hours ago
  • Fanshawe St Bus Stop improvements
    Occasionally it is small projects that can have a lot of impact on people’s PT experience. With the ever growing number of people working near Victoria Park, an upgrade to the bus stops on Fanshawe St along with improvements to the… ...
    13 hours ago
  • Fanshawe St Bus Stop improvements
    Occasionally it is small projects that can have a lot of impact on people’s PT experience. With the ever growing number of people working near Victoria Park, an upgrade to the bus stops on Fanshawe St along with improvements to the… ...
    13 hours ago
  • An abuse of the Speaker’s chair
    Last week NewsHub revealed leaked MPI reports which showed that MPI had been turning a blind eye to widespread criminal behaviour in the fishing industry. Today was the first day of Parliament since those revelations, and given their seriousness, it… ...
    No Right TurnBy Idiot/Savant
    14 hours ago
  • An abuse of the Speaker’s chair
    Last week NewsHub revealed leaked MPI reports which showed that MPI had been turning a blind eye to widespread criminal behaviour in the fishing industry. Today was the first day of Parliament since those revelations, and given their seriousness, it… ...
    No Right TurnBy Idiot/Savant
    14 hours ago
  • Punakaiki Fund invests in Populate
    Crosspost from Punakaiki Fund. New Investment: Populate One of our core motivations at Punakaiki Fund is being able to help and watch companies create a large number of sustainable new jobs. And one of the best people around at hiring… ...
    Lance WiggsBy Lance Wiggs
    14 hours ago
  • A piece of gratis media advice for Hilary Clinton
      Here’s some free media advice for Hilary Clinton now just trailing Donald Trump in the polls: Stop smiling and waving to “people you recognise” in the crowd. It’s insulting to everyone else, looks (and may well be) dishonest… ...
    15 hours ago
  • A piece of gratis media advice for Hilary Clinton
      Here’s some free media advice for Hilary Clinton now just trailing Donald Trump in the polls: Stop smiling and waving to “people you recognise” in the crowd. It’s insulting to everyone else, looks (and may well be) dishonest… ...
    15 hours ago
  • The Nuit Debout revolt in France: let the gems sparkle. . .
    by Denis Godard The movement of occupation of squares in France is [over] two weeks old. [1] Its evolution is difficult to predict, because it is open to many unforeseen events, even though its roots are deep. At this point… ...
    RedlineBy Admin
    15 hours ago
  • Open Government: Unilateral
    Back in April, State Services Minister Paula Bennett announced in an answer to a Parlaimentary written question that we were consulting the Open Government Secretariat about an extension to the deadline for submitting our action plan:While New Zealand's second Open… ...
    No Right TurnBy Idiot/Savant
    15 hours ago
  • Open Government: Unilateral
    Back in April, State Services Minister Paula Bennett announced in an answer to a Parlaimentary written question that we were consulting the Open Government Secretariat about an extension to the deadline for submitting our action plan:While New Zealand's second Open… ...
    No Right TurnBy Idiot/Savant
    15 hours ago
  • What I’m looking for in Budget 2016 – A better start for our tamariki
    Ensuring the best start for our tamariki is a priority for me in everything I do. And so in Budget 2016, my first budget as an MP, I looking for the Government to make a real investment in the wellbeing… ...
    frogblogBy Marama Davidson
    15 hours ago
  • Free the Wicklow 2
    Protests around the imprisonment of these two activists are taking place around Ireland and also in Britain.  Anyone fancy organising something at the Irish embassy in Wellington  There is also an Irish consulate in Auckland. ...
    RedlineBy Admin
    15 hours ago
  • DIY Touring The World: New Zealand
    New Zealand has a small population, few places to play and not much money for touring bands - but you can’t beat the beautiful landscapes, hidden gem venues and fantastic audiences. Music impresario Ian Jorgensen has been touring bands… ...
    15 hours ago
  • We are all socialists now
    A mass government house-building programme is a favourite policy of the left for solving the Auckland housing crisis. Use cheap government capital, build affordable, energy-efficient homes, mass produce them to get efficiencies of scale, and get people back into owning… ...
    No Right TurnBy Idiot/Savant
    15 hours ago
  • We are all socialists now
    A mass government house-building programme is a favourite policy of the left for solving the Auckland housing crisis. Use cheap government capital, build affordable, energy-efficient homes, mass produce them to get efficiencies of scale, and get people back into owning… ...
    No Right TurnBy Idiot/Savant
    15 hours ago
  • Protected: Tributes to Dame Margaret Sparrow
    This post is password protected. You must visit the website and enter the password to continue reading.Filed under: Uncategorized ...
    ALRANZBy ALRANZ
    15 hours ago
  • New Zealand and New Zealand
    There’s a 2009 sci-fi novel by China Miéville called The City and the City. The action takes place in two separate cities which overlap each other geographically, but the denizens of each city is compelled to ‘Unsee’ things they see happening in… ...
    DimPostBy danylmc
    16 hours ago
  • New Zealand and New Zealand
    There’s a 2009 sci-fi novel by China Miéville called The City and the City. The action takes place in two separate cities which overlap each other geographically, but the denizens of each city is compelled to ‘Unsee’ things they see happening in… ...
    DimPostBy danylmc
    16 hours ago
  • Breaking free from fossil fuels – the risk we take is not taking action
    Last week, #BreakFree2016 wrapped up across the globe. Greenpeace joined with many inspiring organisations in a global wave of peaceful actions that lasted for 12 days and took place across six continents to target the world’s most dangerous fossil fuel projects.In places… ...
    16 hours ago
  • More odious debt
    The media over the last few days has been full of stories about WINZ and odious debt. But the worst one is this:A woman with eight children living in emergency housing is facing a debt to Work and Income of… ...
    No Right TurnBy Idiot/Savant
    16 hours ago
  • More odious debt
    The media over the last few days has been full of stories about WINZ and odious debt. But the worst one is this:A woman with eight children living in emergency housing is facing a debt to Work and Income of… ...
    No Right TurnBy Idiot/Savant
    16 hours ago
  • Additional Harbour Crossing ill-considered and over-rushed.
    We are increasingly concerned that Auckland is in the middle of very poor process where by far the nation’s biggest ever infrastructure project is being forced along and at ill-considered speed without anything like the level of public participation nor detailed… ...
    Transport BlogBy Patrick Reynolds
    18 hours ago
  • Additional Harbour Crossing ill-considered and over-rushed.
    We are increasingly concerned that Auckland is in the middle of very poor process where by far the nation’s biggest ever infrastructure project is being forced along and at ill-considered speed without anything like the level of public participation nor detailed… ...
    Transport BlogBy Patrick Reynolds
    18 hours ago
  • Tinder and 3nder are officially at war
    Your right to swipe for threesomes is under threat.    Some clean-cut millennials enjoying the 3nder afterglow. 1232RF Those for whom three is the magic sex-number should know that one's right to swipe one's way into a six-limb circus is… ...
    18 hours ago
  • Some big news, for me
    Two pieces of news that are kind of a big deal, for me. Firstly, I’m ditching my landline! I’m not a student and I’m not in a low income band, so make of that what you will. Secondly, after 10… ...
    GrumpollieBy Andrew
    18 hours ago
  • Start as you mean to go on
    The GCSB has a new director: His family tease him by calling him Johnny English. He has a 3000-strong record collection – not classical, but some “out there” 1980s indie rock. Andrew Hampton is also a government fix-it man –… ...
    DimPostBy danylmc
    18 hours ago
  • Start as you mean to go on
    The GCSB has a new director: His family tease him by calling him Johnny English. He has a 3000-strong record collection – not classical, but some “out there” 1980s indie rock. Andrew Hampton is also a government fix-it man –… ...
    DimPostBy danylmc
    18 hours ago
  • Polity: Mike’s minute: Mike’s maths!
    Today, media ubiquity Mike Hosking took to nzherald.co.nz to vent his frustration at Labour for suggesting that it would re-convene the same Tax Working Group first used by National. He was clearly very upset.For Mike, Auckland’s housing crisis is a… ...
    19 hours ago
  • Polity: Mike’s minute: Mike’s maths!
    Today, media ubiquity Mike Hosking took to nzherald.co.nz to vent his frustration at Labour for suggesting that it would re-convene the same Tax Working Group first used by National. He was clearly very upset.For Mike, Auckland’s housing crisis is a… ...
    19 hours ago
  • Denise Roche: What I’m looking for in Budget 2016 Pt II
    Aotearoa’s new New Zealanders,  come to our country in vulnerable position: – often away from the culture, communities and families they know, sometimes in neighbourhoods without familiar faces and often encountering barriers to employment. With net migration at 50,000+ a… ...
    frogblogBy Denise Roche
    19 hours ago
  • Helter smelter deja vu: Tiwai Point uncertainty stalls NZ renewables
    Simon Johnson looks at how New Zealand Aluminium Smelter Limited is behind the Meridian/Genesis deal keeping the Huntly Thermal Power Station burning coal as the threat of closing the Tiwai Point smelter is stalling the construction of consented renewable energy… ...
    Hot TopicBy Mr February
    20 hours ago
  • Helter smelter deja vu: Tiwai Point uncertainty stalls NZ renewables
    Simon Johnson looks at how New Zealand Aluminium Smelter Limited is behind the Meridian/Genesis deal keeping the Huntly Thermal Power Station burning coal as the threat of closing the Tiwai Point smelter is stalling the construction of consented renewable energy… ...
    Hot TopicBy Mr February
    20 hours ago
  • Equal Pay and Budget 2016
    The last few years we’ve seen equal pay for women flagged as an undefined risk in the budget. This year we should expect to see this, as well as budgeted money to deliver equal pay to caregivers and funding for,… ...
    frogblogBy Jan Logie
    20 hours ago
  • Equal Pay and Budget 2016
    The last few years we’ve seen equal pay for women flagged as an undefined risk in the budget. This year we should expect to see this, as well as budgeted money to deliver equal pay to caregivers and funding for,… ...
    frogblogBy Jan Logie
    20 hours ago
  • Hard News: This. Is. Crazy.
    It's eight days since the Prime Minister airily assured Guyon Espiner on Morning Report that "in my experience with Work and Income", homeless people could go along to their local office and get sorted with some emergency housing.We now know… ...
    21 hours ago
  • Hard News: This. Is. Crazy.
    It's eight days since the Prime Minister airily assured Guyon Espiner on Morning Report that "in my experience with Work and Income", homeless people could go along to their local office and get sorted with some emergency housing.We now know… ...
    21 hours ago
  • A great Budget would
    A great Budget would embrace the challenge of our polluted rivers and move the money away from justifying the status quo water rules into cleaning up waterways. A great Budget would take the Ministry for the Environment freshwater budget and… ...
    frogblogBy Catherine Delahunty
    21 hours ago
  • Smarter, Better, Cleaner, Stronger
    This Thursday Bill English will deliver his eighth Budget. Will it continue the trend of previous National budgets, making tertiary education less affordable, putting only token funds into innovation, and subsidising polluters? Budgets aren’t what they used to be. Once… ...
    frogblogBy Gareth Hughes
    21 hours ago
  • What we are expected to believe
    In recent months I have become increasingly concerned at the state of bullshit in this country. Bullshit, as Harry Frankfurt famously wrote, is distinguished not by its intentionally negative truth value (those are lies) but its absence of intentional truth… ...
    22 hours ago
  • The end of Auckland’s old growth model
    The New Zealand Council for Infrastructure Development’s public shark-jumping exercise the other week got me thinking. While their flagship policy of a new megabillion eastern tunnel project is a bit mad, their report does a reasonable job of diagnosing one… ...
    Transport BlogBy Peter Nunns
    23 hours ago
  • The end of Auckland’s old growth model
    The New Zealand Council for Infrastructure Development’s public shark-jumping exercise the other week got me thinking. While their flagship policy of a new megabillion eastern tunnel project is a bit mad, their report does a reasonable job of diagnosing one… ...
    Transport BlogBy Peter Nunns
    23 hours ago
  • Why are whistleblowers being prosecuted as spies?
    Whistleblowers are a ‘check’ on government, corporate or organisational secrecy and malfeasance. I recently read Tim Shipman’s preview of the Chilcot report into the origins of the Tony Blair-led UK engagement in the US’s invasion of Iraq, which looked at… ...
    The PaepaeBy Peter Aranyi
    23 hours ago
  • Spend and Tax
    As a general rule, New Zealanders want more public spending. Surveys (such as the 2014 Election Survey) show consistent support for increases in spending, particularly in the areas of health, education, housing, law enforcement, public transport and the environment (in… ...
    Briefing PapersBy Brian Easton
    24 hours ago
  • The birth place of the artist
    It may not be the best reason to fund the arts. It’s certainly not the only one. But travelling to the small city of Rovereto, at the feet of the Italian dolomites, reminded me of the lasting influence that a… ...
    Bat bean beamBy Giovanni Tiso
    1 day ago
  • Gordon Campbell on the rise of the far right, and battle bots
    In his victory speech at the Cannes film festival this week, the British film director Ken Loach warned that the rise of far right parties in Europe was being fuelled by the economic policies of austerity, and manifested in a… ...
    1 day ago
  • Why Corrections prevented Tony Robertson from getting treatment in prison
    Tony Robertson was sentenced to eight years in prison for indecently assaulting a five year old girl in 2005. He was considered a high risk prisoner and the parole board declined to release him on four separate occasions.  He was… ...
    PunditBy Roger Brooking
    1 day ago
  • Have We a Housing Policy?
    The Prime Minister’s announcement that there is nothing new about homelessness is both an example of his strengths in reassuring the public that there is never really a problem and the weaknesses of the government’s policy approach..read more ...
    PunditBy Brian Easton
    1 day ago
  • Have We a Housing Policy?
    The Prime Minister’s announcement that there is nothing new about homelessness is both an example of his strengths in reassuring the public that there is never really a problem and the weaknesses of the government’s policy approach..read more ...
    PunditBy Brian Easton
    1 day ago
  • Climate denial arguments fail a blind test
    As we saw in the recent legal ruling against Peabody coal, arguments and myths that are based in denial of the reality of human-caused global warming rarely withstand scientific scrutiny. In a new study published in Global Environmental Change, a team led by Stephen Lewandowsky… ...
    2 days ago
  • Palmerston North librarians gather to support UCOL colleagues
    At 5pm today at the UCOL Library, representatives of library staff from the City Library, Massey, Te Wānanga o Aotearoa, and local schools will meet in a show of support for UCOL Library staff whose jobs are threatened. “We all… ...
    2 days ago
  • Accountability for Iraq?
    Six years after it was established, the Chilcot Inquiry into the UK's involvement in the Iraq war is finally about to report back. And from the sound of it, its going to pin the blame squarely where it belongs: on… ...
    No Right TurnBy Idiot/Savant
    2 days ago
  • Accountability for Iraq?
    Six years after it was established, the Chilcot Inquiry into the UK's involvement in the Iraq war is finally about to report back. And from the sound of it, its going to pin the blame squarely where it belongs: on… ...
    No Right TurnBy Idiot/Savant
    2 days ago
  • Not Quite But Getting There
    It seems that Labour might have finally gotten the memo about getting it’s A into G but perhaps not quite digested the content. Still it’s a start. The last month has seen a steady stream of both Labour and Little… ...
    2 days ago
  • Climate change: The latest inventory
    The annual inventory report [PDF] of our greenhouse gas emissions was released on Friday. The headline data: emissions are still increasing: There's been another "recalculation" in the last 12 months, making year-to-year comparisons difficult. Naurally, this seems to have shifted… ...
    No Right TurnBy Idiot/Savant
    2 days ago
  • Climate change: The latest inventory
    The annual inventory report [PDF] of our greenhouse gas emissions was released on Friday. The headline data: emissions are still increasing: There's been another "recalculation" in the last 12 months, making year-to-year comparisons difficult. Naurally, this seems to have shifted… ...
    No Right TurnBy Idiot/Savant
    2 days ago
  • Australia lets kiwi detainees literally rot
    What are our "closest friends" Australia doing to kiwis awaiting deportation? Letting them literally rot away in prison due to substandard medical care:A New Zealander held at an Australian immigration detention centre will find out today if his leg has… ...
    No Right TurnBy Idiot/Savant
    2 days ago
  • Australia lets kiwi detainees literally rot
    What are our "closest friends" Australia doing to kiwis awaiting deportation? Letting them literally rot away in prison due to substandard medical care:A New Zealander held at an Australian immigration detention centre will find out today if his leg has… ...
    No Right TurnBy Idiot/Savant
    2 days ago
  • CRL already impacting land use on city fringe
    The City Rail Link will be one of the most transformational projects Auckland has ever seen. Perhaps nowhere else will see experience that transformation more than the inner west of the isthmus which effectively gets picked up and moved much closer to… ...
    2 days ago
  • CRL already impacting land use on city fringe
    The City Rail Link will be one of the most transformational projects Auckland has ever seen. Perhaps nowhere else will see experience that transformation more than the inner west of the isthmus which effectively gets picked up and moved much closer to… ...
    2 days ago
  • National should give us our $13,000 back
    We all know that National works for the rich and screw over ordinary New Zealanders to funnel wealth upwards into the pockets of its rich mates. But how bad have they been? $13,000 bad:Yesterday, Mr Little said that since National… ...
    No Right TurnBy Idiot/Savant
    2 days ago
  • National should give us our $13,000 back
    We all know that National works for the rich and screw over ordinary New Zealanders to funnel wealth upwards into the pockets of its rich mates. But how bad have they been? $13,000 bad:Yesterday, Mr Little said that since National… ...
    No Right TurnBy Idiot/Savant
    2 days ago
  • Access: The Universal Basic Income and its implications for citizenship
    The suggestion about a possible Universal Basic Income (UBI) was only one of numerous suggestions to come out of Labour’s Future of Work initiative. This a wide-ranging policy discussion that the Party’s economic development spokesman, Wellington Central MP Grant Robertson,… ...
    2 days ago
  • Access: The Universal Basic Income and its implications for citizenship
    The suggestion about a possible Universal Basic Income (UBI) was only one of numerous suggestions to come out of Labour’s Future of Work initiative. This a wide-ranging policy discussion that the Party’s economic development spokesman, Wellington Central MP Grant Robertson,… ...
    2 days ago
  • Review: The Block Party
    Did New Zealand’s 'premier urban music' event live up to the hype?   Photo: Nicole Semitara Hunt ‘Old school’ was the name of the game on Friday night at The Block Party, where several thousand converged on ASB… ...
    2 days ago
  • Hard News: The media awards are dead – long live the media awards!
    Friday's Canon Media Awards was the most interesting instance of the long-running national ceremony in a long time, maybe ever. There were notable insurgencies – The SpinOff took two awards from 11 first-time nominations, Radio NZ's The Wireless won Website… ...
    2 days ago
  • Hard News: The media awards are dead – long live the media awards!
    Friday's Canon Media Awards was the most interesting instance of the long-running national ceremony in a long time, maybe ever. There were notable insurgencies – The SpinOff took two awards from 11 first-time nominations, Radio NZ's The Wireless won Website… ...
    2 days ago
  • New research confirms water fluoridation does not cause bone cancers
    The most common type of bone cancer is Osteosarcoma. Image credit:  Osteosarcoma This time for Texas. A new study confirms what other researchers have found elsewhere. It is reported in this recent paper: Archer, N. P., Napier, T. S., & Villanacci, J. F. (2016).… ...
    2 days ago
  • Redline on the Labour Party
    No-one on the anti-capitalist left in this country today puts forward a case that Labour is on the side of the working class.  There are certainly people who call themselves ‘socialist’ who do, but they are essentially liberals with vested… ...
    RedlineBy Admin
    2 days ago
  • Selfie-takers think they’re the greatest
    Science says otherwise.  “People often perceive themselves as more attractive and likable than others [perceive them to be].” This is the cutting conclusion from a new study that has found you're probably not as great as you think you… ...
    2 days ago
  • UCOL cutting the staff who lifted student results
    UCOL needs to halt its proposed cuts to student support services now that it knows those services are improving student outcomes. On Friday, in an email to all staff, UCOL released its provisional 2015 Educational Performance Indicator (EPI) results which… ...
    2 days ago
  • Another Road Only Harbour Crossing on the Cards?
    The absence of rail as well as walking and cycling options to the North Shore has been considered an oversight by many probably ever since the Harbour Bridge was first approved for construction over 60 years ago. While Skypath will… ...
    2 days ago
  • Leaked UK Briefing Shows NZ-EU Trade Deal is a Sham
    Press Release – New Zealand First Party Rt Hon Winston Peters New Zealand First Leader Member of Parliament for Northland 23 MAY 2016 Leaked UK Briefing Shows NZ-EU Trade Deal is a Sham The Prime Ministers EU trade deal… ...
    Its our futureBy ScoopBlogPush
    2 days ago
  • Gordon Campbell on bank scandals and air crashes
    Libor. It stands for the London Interbank Offered rate. Back in 2012, Libor became synonymous with a scandal involving the dodgy manipulation of how interest rates were fixed – during the years before and after the Global Financial Crisis –… ...
    2 days ago

  • Key’s “brain fart” on tax cuts news to English
    John Key didn’t tell his own Finance Minister he was about to go on radio and announce he wanted $3b of tax cuts, just days after Bill English ruled them out, says Labour’s Finance spokesperson Grant Robertson. “In Parliament today… ...
    14 hours ago
  • What I’m looking for in Budget 2016 – A better start for our tamariki
    Ensuring the best start for our tamariki is a priority for me in everything I do. And so in Budget 2016, my first budget as an MP, I looking for the Government to make a real investment in the wellbeing… ...
    GreensBy Marama Davidson
    15 hours ago
  • What I’m looking for in Budget 2016 – A better start for our tamariki
    Ensuring the best start for our tamariki is a priority for me in everything I do. And so in Budget 2016, my first budget as an MP, I looking for the Government to make a real investment in the wellbeing… ...
    GreensBy Marama Davidson
    15 hours ago
  • Denise Roche: What I’m looking for in Budget 2016 Pt II
    Aotearoa’s new New Zealanders,  come to our country in vulnerable position: – often away from the culture, communities and families they know, sometimes in neighbourhoods without familiar faces and often encountering barriers to employment. With net migration at 50,000+ a… ...
    GreensBy Denise Roche
    19 hours ago
  • Equal Pay and Budget 2016
    The last few years we’ve seen equal pay for women flagged as an undefined risk in the budget. This year we should expect to see this, as well as budgeted money to deliver equal pay to caregivers and funding for,… ...
    GreensBy Jan Logie
    20 hours ago
  • Equal Pay and Budget 2016
    The last few years we’ve seen equal pay for women flagged as an undefined risk in the budget. This year we should expect to see this, as well as budgeted money to deliver equal pay to caregivers and funding for,… ...
    GreensBy Jan Logie
    20 hours ago
  • A great Budget would
    A great Budget would embrace the challenge of our polluted rivers and move the money away from justifying the status quo water rules into cleaning up waterways. A great Budget would take the Ministry for the Environment freshwater budget and… ...
    GreensBy Catherine Delahunty
    21 hours ago
  • Budget building materials policy backfires
    On the eve of this year’s Budget official figures show Nick Smith’s Budget 2014 centrepiece to reduce the cost of building materials has backfired, says Labour’s Housing spokesperson Phil Twyford. “Ministry of Business, Innovation and Employment officials have spent the… ...
    21 hours ago
  • Smarter, Better, Cleaner, Stronger
    This Thursday Bill English will deliver his eighth Budget. Will it continue the trend of previous National budgets, making tertiary education less affordable, putting only token funds into innovation, and subsidising polluters? Budgets aren’t what they used to be. Once… ...
    GreensBy Gareth Hughes
    21 hours ago
  • Govt must come clean on tax cuts in Budget
    National is making a mockery of the Budget process by dangling the promise of tax cuts but failing to include them in the Budget, says Labour’s Finance spokesperson Grant Robertson. “National’s tax cut promises have turned into a farce. One… ...
    2 days ago
  • Grant Robertson Pre-Budget Speech
    Today I want to talk about success. As we know success can come in many different forms, from the fact you all made it here at such an early hour on a Monday, for which I am very grateful, to… ...
    2 days ago
  • Budget must deliver for middle New Zealand
    The Government must ensure next week’s Budget stops the squeeze on middle New Zealand and delivers shared prosperity for all New Zealanders, Leader of the Opposition Andrew Little says. The call follows new research commissioned by Labour that shows working… ...
    3 days ago
  • Our housing emergency – why we have to act
    Marama and Metiria at Homes Not Cars launch On Thursday, Metiria Turei announced the Green Party’s plan to start addressing the emergency housing crisis facing our country. Too many people are without homes right now – homeless. It is the… ...
    GreensBy Marama Davidson
    4 days ago
  • Will funding boost for sexual violence services go to the right places?
    This week the Government announced $46million for sexual violence services. This announcement was a result of decades of work by advocates and everyone who submitted to the Select Committee inquiry into funding for sexual violence services that I initiated with… ...
    GreensBy Jan Logie
    5 days ago
  • Will funding boost for sexual violence services go to the right places?
    This week the Government announced $46million for sexual violence services. This announcement was a result of decades of work by advocates and everyone who submitted to the Select Committee inquiry into funding for sexual violence services that I initiated with… ...
    GreensBy Jan Logie
    5 days ago
  • Denise Roche – What I’m looking for in this year’s Budget
    Two of the things I’ll be looking for in the Budget next week are more funding for refugees and for our arts and culture sector. More funding for refugees I’m a strong supporter of the #DoubleTheQuota campaign and its goals… ...
    GreensBy Denise Roche
    5 days ago
  • Denise Roche – What I’m looking for in this year’s Budget
    Two of the things I’ll be looking for in the Budget next week are more funding for refugees and for our arts and culture sector. More funding for refugees I’m a strong supporter of the #DoubleTheQuota campaign and its goals… ...
    GreensBy Denise Roche
    5 days ago
  • Car rego victims must get a refund
    Motorists who have been overcharged for their car registration should get a refund, says Labour’s Transport spokesperson Sue Moroney.  “Minister Nikki Kaye’s ‘faulty risk’ rating scheme has blown up in her face with over 170 different models of car having… ...
    5 days ago
  • Council statement shows they just don’t get it
    The Auckland Council’s statement today shows they don’t understand the problems created by the urban growth boundary, says Labour’s housing spokesperson Phil Twyford.  “I have been the first to defend the Auckland City Council when Bill English has been blaming… ...
    5 days ago
  • Inspecting electronic devices a potential privacy threat
    Labour is expressing concern for New Zealanders’ privacy rights as the Government signals Customs will have the power to inspect electronic devices coming across the border, says Labour’s Customs Spokesperson Rino Tirikatene. “We agree that customs officers should have the… ...
    5 days ago
  • The Price of Water
    This week I hosted a public meeting at EIT in Hawkes Bay to discuss how we might put a price on the commercial use of water, so that water may be valued and treated more sustainably. I invited a… ...
    GreensBy Catherine Delahunty
    5 days ago
  • Caption It NZ!
    Today I received a petition from the NZ Captioning Working Group urging the government to legislate for accessibility via closed captioning for deaf and hard of hearing New Zealanders. It was timely because today is the fifth Global Accessibility Awareness… ...
    GreensBy Mojo Mathers
    6 days ago
  • Older Kiwis to miss out on electives
    The Government is not doing enough elective surgery to keep up with New Zealand’s ageing population, says Labour’s Health spokesperson Annette King.  “It’s damning that the targeted national intervention rate for cataract and knee and hip surgery is the same… ...
    6 days ago
  • Most principals say their college is underfunded
    The Government must substantially increase funding for secondary schools in next week’s Budget after a new survey found 86 per cent of principals consider their college under-resourced, Labour’s Education spokesperson Chris Hipkins says. “Just 14 per cent of secondary principals… ...
    6 days ago
  • Bill English and Nick Smith on different pages
    The Government’s support for Labour’s policy to remove the Auckland urban growth boundary is good news, but National needs to clarify its position, Labour’s Housing and Auckland Issues spokesperson Phil Twyford says. “The Acting Prime Minister has acknowledged our position… ...
    6 days ago
  • Bill English and Nick Smith on different pages
    The Government’s support for Labour’s policy to remove the Auckland urban growth boundary is good news, but National needs to clarify its position, Labour’s Housing and Auckland Issues spokesperson Phil Twyford says. “The Acting Prime Minister has acknowledged our position… ...
    6 days ago
  • Labour calls for independent inquiry into illegal fish dumping
    The Labour Party is reiterating its call for an independent inquiry into New Zealand’s fishing industry after two reports revealed the Ministry for Primary Industries turned a blind eye to widespread fish dumping in New Zealand waters, says Labour’s Fisheries… ...
    6 days ago
  • Mt Karangahake and Newcrest Mining
    On Wednesday and Sunday of last week the local residents of the Karangahake mountain in the Karangahake gorge of Hauraki/Coromandel peacefully protested against a gold mining drill rig on private land adjacent to the DOC land. The drilling rig was… ...
    GreensBy Catherine Delahunty
    7 days ago
  • Robbing Aucklanders to pay Rio Tinto
    New Zealand’s national electricity grid stretches the length of the country and contains some 11,803 kilometres of high-voltage lines and 178 substations. It wouldn’t make sense for competing power companies to duplicate and build their own expensive electricity transmission system… ...
    GreensBy Gareth Hughes
    7 days ago
  • Government should abolish Auckland urban growth boundary
    The Government should rule out any possibility of an urban growth boundary in Auckland Council’s Unitary Plan if it is serious about fixing the housing crisis, says Labour’s Housing spokesperson Phil Twyford. “Over 25 years the urban growth boundary hasn’t… ...
    7 days ago
  • Kiwis don’t want iPads for Land deals
     It is outrageous that schools are relying on money and iPads from foreign land investors to meet the learning needs of their students, says Labour’s Education spokesperson Chris Hipkins.  “Several OIO land applications by offshore investors have claimed that without… ...
    7 days ago
  • Homelessness – National has failed all of us
    A young South Auckland Māori woman recently tried to get hold of me around midnight. I missed her call. The woman wanted me to know the sharp reality facing too many families looking for a stable place to live. Things… ...
    GreensBy Marama Davidson
    1 week ago
  • Moko case should never have been manslaughter deal
    Confirmation again yesterday that the manslaughter charge in the Moko Rangitoheriri case was a deal done by the Crown Prosecution Service is justifiably the cause of outrage, says Labour’s Children’s spokesperson Jacinda Ardern.“This should never have been a case where… ...
    1 week ago
  • Overseas investor funds school’s digital devices
    The Government must address the inequality laptops and tablets in classrooms are causing after a Queenstown school was forced to use a donation from an overseas investor to get their students digital devices, Labour’s Education spokesperson Chris Hipkins. “Documents obtained… ...
    1 week ago
  • Child Youth and Family Review and Domestic Violence
    This Government has consistently failed to recognise the links between Child Youth and Family Services (CYFS) and intimate partner violence. For me, the recent review of CYFS has highlighted this misunderstanding of the dynamics of domestic violence and its impacts… ...
    GreensBy Jan Logie
    1 week ago
  • Child Youth and Family Review and Domestic Violence
    This Government has consistently failed to recognise the links between Child Youth and Family Services (CYFS) and intimate partner violence. For me, the recent review of CYFS has highlighted this misunderstanding of the dynamics of domestic violence and its impacts… ...
    GreensBy Jan Logie
    1 week ago
  • Canterbury rebuild: How wood is a better choice for the new city
    It was interesting to attend the ForestWood Conference in Auckland recently and learn about the extent of innovation in the wood processing and manufacturing sector. The forestry sector may be New Zealand’s third largest export earner, but raw logs make… ...
    GreensBy Eugenie Sage
    1 week ago
  • Canterbury rebuild: How wood is a better choice for the new city
    It was interesting to attend the ForestWood Conference in Auckland recently and learn about the extent of innovation in the wood processing and manufacturing sector. The forestry sector may be New Zealand’s third largest export earner, but raw logs make… ...
    GreensBy Eugenie Sage
    1 week ago
  • Key plucks $3b out of thin air – reckless and irresponsible
    John Key refuses to give up on his dream of tax cuts to the wealthy, despite being shot down by Bill English, and is resorting to plucking numbers out of thin air, says Labour’s Finance spokesperson Grant Robertson. “On radio… ...
    1 week ago
  • John Key woefully out of touch on homelessness
    John Key is completely out of touch if he thinks desperate South Auckland families forced to live in cars can simply go to Work and Income for help, Opposition Leader Andrew Little says. “Many of these families are working and… ...
    1 week ago
  • Under-reporting shows need to review quota system
    The Government must launch an independent review into New Zealand’s 30-year-old Quota Management System following a new report suggesting gross under-reporting of catch in the New Zealand fishing industry, Labour’s Environment spokesperson David Parker says.  “The Auckland University report found… ...
    1 week ago
  • Investigations into tertiary institutions overdue
    A Tertiary Education Commission investigation into the Tai Poutini Polytechnic is overdue and should have been launched last year, Labour’s Associate Education (Tertiary) spokesperson David Cunliffe says. “Labour has been calling for an inquiry into potential rorts at Tai Poutini… ...
    2 weeks ago
  • Investigations into tertiary institutions overdue
    A Tertiary Education Commission investigation into the Tai Poutini Polytechnic is overdue and should have been launched last year, Labour’s Associate Education (Tertiary) spokesperson David Cunliffe says. “Labour has been calling for an inquiry into potential rorts at Tai Poutini… ...
    2 weeks ago
  • Where is the fair share for most New Zealanders?
    Most New Zealanders reading the news that chief executive pay has risen 12 per cent in the last year will be wondering when they are going to get their fair share, Labour’s Finance spokesperson Grant Robertson says. “More and more… ...
    2 weeks ago
  • Where is the fair share for most New Zealanders?
    Most New Zealanders reading the news that chief executive pay has risen 12 per cent in the last year will be wondering when they are going to get their fair share, Labour’s Finance spokesperson Grant Robertson says. “More and more… ...
    2 weeks ago
  • Mega media merger is bad news
    Some people call newspapers “tomorrow’s fish and chips” but this week’s news around a mega media merger is not an issue we should discard. Media giants Fairfax and APN News & Media announced they were in discussions to merge their… ...
    GreensBy Gareth Hughes
    2 weeks ago
  • Mega media merger is bad news
    Some people call newspapers “tomorrow’s fish and chips” but this week’s news around a mega media merger is not an issue we should discard. Media giants Fairfax and APN News & Media announced they were in discussions to merge their… ...
    GreensBy Gareth Hughes
    2 weeks ago
  • National puts Easter trading in the too hard basket
    All Labour MPs will vote against National’s move to leave Easter trading laws up to councils, Labour’s Workplace Relations spokesperson Iain-Lees Galloway says.  “Despite this being a conscience vote, Labour MPs are united in their opposition to the Government’s moves… ...
    2 weeks ago
  • National puts Easter trading in the too hard basket
    All Labour MPs will vote against National’s move to leave Easter trading laws up to councils, Labour’s Workplace Relations spokesperson Iain-Lees Galloway says.  “Despite this being a conscience vote, Labour MPs are united in their opposition to the Government’s moves… ...
    2 weeks ago
  • Law Commission speaks up for domestic violence survivors
    I want to give kudos to the Minister for Justice for getting the Law Commission to review options for how our justice system responds when victims of domestic violence kill their partners. This is a relatively discrete piece of work… ...
    GreensBy Jan Logie
    2 weeks ago

Public service advertisements by The Standard

Current CO2 level in the atmosphere