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KiwiFund: nationalisation or competition?

Written By: - Date published: 8:05 pm, October 21st, 2013 - 61 comments
Categories: david cunliffe, election 2014, greens, john key, kiwisaver, labour, national, russel norman, slippery, superannuation - Tags:

It’s interesting that Russel Norman has been quick to give conditional support to Winston Peter’s proposed KiwiFund, considering that many see the Greens and NZ First as being too far apart to be part of the same governing alliance of parties.

Peters’ version appears to be a proposal for the full nationalisation of KiwiSaver:

petersvskey

An outline plan of “KiwiFund” has been announced by Rt Hon Winston Peters in his keynote Leader’s address at the party’s annual convention in Christchurch today.

Mr Peters told delegates that private funds managers were sucking the lifeblood out of KiwiSaver, and in five short years had already taken $325 million in management and investment fees.

[...]

“Our plan is to change KiwiSaver so that it is a truly government-backed and managed retirement fund. Because of the economies of scale, and the elimination of hordes of ticket clipping fund managers, costs will be greatly reduced. People who pay into KiwiSaver will get their full return.”

Russel Norman’s preference

Peters Norman

 

is for a state run KiwiSaver provider, alongside privately run schemes:

The Green Party sees New Zealand First’s proposal for a public option for KiwiSaver as a move in the right direction, providing that it is about providing competition to the existing private KiwiSaver funds and not proposing to nationalise them.

[...]

“There is considerable common ground with our KiwiSaver policy launched in the run-up to the 2011 election,” Green Party Co-leader Russel Norman said today.

“A public fund can achieve significant fee and cost reductions through greater economies of scale. Our fund would be an optional default KiwiSaver fund.

“Under our proposal, the investment function – the back-end – would be managed by the $23 billion New Zealand Superannuation Fund while Kiwibank or the Inland Revenue Department can provide the front-end management of individual KiwiSaver accounts.

[...]

The recommendation for a single default KiwiSaver provider was made by the Government appointed Savings Working Group in January 2011.

While Cunliffe is reticent about committing to any of these chanegs, he isn’t averse to negotiating with NZ First over their proposal.

cunliffe own our future

 

Hamish Rutherford writes:

Labour leader David Cunliffe said he would not make commitments about coalition agreements until after the 2014 election, but “of all he things I can imagine having to negotiate post election, this wouldn’t be the hardest”.

Labour also had concerns over fees charged on KiwiSaver funds, particularly on conservative funds, but the system wasn’t “broke”.

In contrast, John Key

john-key-snake-oil

 

is dismissive of any of the above proposals:

Prime Minister John Key has dismissed NZ First’s policy to create a state-run, locally focused KiwiSaver fund.

[...]

“So instead of 20 managers having different strategies, different ways of doing things, different profiles, some more risky, some less risky, that you choose, so why on earth would we want to do that,” he said.

“I know that these guys are on this track at the moment of wanting to nationalise electricity, nationalise building, nationalise our management funds, they’ll be nationalising supermarkets and petrol stations and everything else soon.

“That worked really well for the Soviet Union when they were doing that,” Key said.

And Key seems to be suggesting NZ First would not stand by this policy in any post-election negotiations:

NZ First would not form a coalition, or even sign a confidence and supply agreement, with any party not willing to adopt it as government policy.

But Key said he found it highly unlikely the policy would be a deal-breaker for any potential coalition with NZ First.

“Winston Peters speaks in riddles. He has for his entire career from what I can see. He’ll find some way of saying this is sort of introduced, or being looked at, but mark my words it won’t be bottom line.”

So, Key appears to be saying that he would be up for forming a government with someone like Peters, who Key sees as being untrustworthy.

Nevertheless, it’s interesting to see that, on at least one possible policy area, Labour, the Green Party and NZ First seem to be closer than any of them are to National.

61 comments on “KiwiFund: nationalisation or competition?”

  1. Lanthanide 1

    Was wondering if we’d get an article on this.

    NZFirst’s policy isn’t to completely nationalise Kiwisaver at all. It’s simply to create a new scheme run by the government with a government guarantee on deposits (but not returns). Presumably it would somehow be lumped in and controlled by the group managing the existing Superannuation fund. Private providers would still exist in this landscape, however Peter’s doubts many NZers would stay in them since they wouldn’t be guaranteed and he says the “returns will be better” in KiwiFund due to much lower / no fees being charged.

  2. binders full of women 2

    Farrar was spot on. If Winston wants state control of kiwisaver- then he should set up a kiwifund and anyone can switch to it or start with it. As long as we are FREE to leave our funds in whichever fund they are currently sitting in. Win-win, freedom to choose Winston & Russel’s setup or existing. Mine is going okay so I probably wouldn’t initially switch to WinfirstRusGreenScheme.

    • Draco T Bastard 2.1

      The “freedom to choose” is what’s causing the present Kiwisaver from being optimal.

      EDIT:
      Actually, thinking about that, what choice do you truly have? You don’t have any choice in where the funds are invested just some vague choice about risks.

      • Lanthanide 2.1.1

        You don’t have to invest in Kiwisaver at all. You can invest your own money where-ever you choose, and you aren’t locked into those investments until you’re 65 either.

        Also there is one Kiwisaver provider that lets you customize your own investments, although they present you with a list of choices that you choose from, rather than being able to pick anything at all yourself.

        • Tat Loo 2.1.1.1

          A well managed zero fee fund like the Government can run is always going to work better for the majority of people who aren’t investment specialists themselves.

          • Lanthanide 2.1.1.1.1

            I don’t think Winston’s plan is actually feasible.

            The superannuation fund is simply not the same as a Kiwisaver fund. Here are some differences off the top of my head:
            1. Superannuation fund has a long-term target of 2030 before funds start to be withdrawn. Kiwisaver funds are withdrawn whenever the owner turns 65, and there are several provisions to allow them to be withdrawn earlier, such as home buyer subsidies, financial need and terminal illnesses, moving overseas permanently. All of these mean the financial settings are simply not the same.

            2. All of the above require paperwork, which is simply not free. Which means either Kiwifund will have to charge fees, or the government is going to completely subsidise them. Kiwisaver originally started with a $40/year fee subsidy which National scrapped – there’s no reason we can’t have it back.

            3. Again because people have different savings requirements, funds at the moment provide different options like Growth, Balanced and Conservative, as well as cash funds. Again all of these things take overhead: either Kiwifund will have to charge a fee, or the government will be subsidising it.

            4. Winston is saying people can transfer their existing savings over to Kiwifund, which will be government guaranteed for the deposits + inflation, but not the returns. How do you differentiate returns vs capital from transferred funds? There are probably cases that exist, likely from people moving between several funds, where it is no longer clear what proportion of the money they have now saved is “capital” and what is “returns”.

            • Tat Loo 2.1.1.1.1.1

              Hi Lanth, I believe all these factors are reasonably manageable due to the size and flexibility of the resulting govt fund eg. You can’t predict entirely what one person will do with their retirement savings, but you can average out over half a million people reasonably well. Also, the govt fund will have many different components and sector interests that it invests in, as well as both short term and long term cash equivalents.

              • Lanthanide

                Well, no, having to provide different risk profiles is entirely new behaviour that the current superannuation fund does not currently do.

                Having to manage the paperwork of the different risk profiles, and people moving in an out of the scheme, is all entirely new stuff the superannuation fund does not currently do.

                If Peters thinks these things are “free”, then he has no clue what he’s talking about. The work must be done, and generally people don’t work for free, so the money to pay for it comes from somewhere. Either it comes from the savers in the fund, as is currently the case for Kiwisaver funds, or it comes from the government, which is what Winston is saying the new fund will be.

                My problem comes with Winston trumpeting how good it will be for savers not to have to pay fees, without seeming to realise that this is new work that must be paid for: he’s only selling the pros to the voting public, not the cons (where the money will come from to pay for his promises).

                • Tat Loo

                  Let’s see, I think a $25B investment fund can be easily managed with just $25M worth of staff and overhead costs a year, especially leveraging off existing public sector infrastructure.

                  Can you work out for me how much annual fees as a % that works out to be? Oh shit, that’s a whole 0.10% annual fee structure.

                  And based on that, (and understanding that most Kiwisaver providers charge fees at around the 1.5% to 2.0% level) can you work out how much current providers must be extracting in excess over that, not in the work required to run the funds, but in outright ticket clipping profit?

                  If Peters thinks these things are “free”, then he has no clue what he’s talking about. The work must be done, and generally people don’t work for free, so the money to pay for it comes from somewhere.

                  Seriously, to make a statement like this you must think that Peters and all NZ First supporters are idiots or something. Do you?

                  Perhaps you would be satisfied if Peters had said that the funds could be operated “at cost”. Is that sufficiently pedantic and accurate for you?

                  My problem comes with Winston trumpeting how good it will be for savers not to have to pay fees, without seeming to realise that this is new work that must be paid for: he’s only selling the pros to the voting public, not the cons (where the money will come from to pay for his promises).

                  Peter’s plan is going to protect savers to the tune of hundreds of millions (and more, as Kiwisaver funds accumulate) at the cost of a few million a year.

                  Why don’t you wake up and smell a good deal when you see it.

  3. Tat Loo 3

    Here’s the thing – over and over again, it appears that most NZers think that the Government could and should be a legitimate player in markets in order to keep the private sector honest.

    I suspect the reason for this is pretty simple: a lot of people are realising that mega-corporations are screwing them over, and that only Government can help keep them honest.

    This meta-trend is going to become an increasing problem for National.

    • Zorr 3.1

      There is another thing to be keeping in mind here – that is a single Kiwisaver fund run by the government would provide larger returns in a safer manner than having multiple private providers queuing up for their turn at the teat.

      Same principle as any insurance/investment scheme – the more you have to invest and spread around a range of options, the safer your overall investment is from any collapse in prices and, ultimately, is only at risk from a global collapse. At which point, hate to say it, we’re all fucked anyway.

      Why should private providers be getting to charge fees on *our* superannuation savings? Along with a form of UBI, this needs to be taken away from them so that it can go to *our* future. Not Australia’s or USA’s.

    • Chooky 3.2

      +1 Tat CV

      ….re- exposure to mega-corporations and banks…….imo it is also particularly important that the Government provides a guarantee for Kiwi Bank in the event of an international financial banking collapse….and legislates that Australian Banks in New Zealand must provide a guarantee for NZ customers( same as they do Australian customers.)…

      What is the Labour Party policy on this….. compared with the Greens and NZF?

      • Phil 3.2.1

        Chooky,

        Kiwibank is mostly funded by domestic deposits. It has very little wholesale funding from offshore markets, virtually no lending offshore, and a substantial pool of liquidity available for crisis management. You can see all of this in its Disclosure Statements.

        There is no transmission mechanism for an ‘international financial banking collapse’ to directly affect Kiwibank. Yes, they’ve made some shitty choices and subsequently had bad lending decisions at times, but if they’re going to fail as a bank it’s going to be because of their own poor mismanagement rather than global contagion.

        A government gaurantee on Kiwibank specifically would effectively be a vote of no confidence in the ability of its executives and directors.

        • Tat Loo 3.2.1.1

          A government gaurantee on Kiwibank specifically would effectively be a vote of no confidence in the ability of its executives and directors.

          Nonsense. That’s like saying Kiwibank Ltd insuring their offices is a vote of no confidence in the ability of its executives and directors to care for their property.

          In seriousness, Kiwis will love that their bank is formally backed by the NZ Government. It will cost the NZ Government nothing, and give Kiwibank a substantial edge in the marketplace.

          • Phil 3.2.1.1.1

            No, Tat, it’s not like that at all. Property insurance (insurance generally) protects you from the effects of events outside of your control, like earthquakes or getting hit by a bus.

            A guarantee does not do that. Take, for example, the deposit guarantee scheme that was in place here post-GFC. The initial scheme included pretty much all banks and deposit taking finance companies. At the time, the global environment was pretty much as uncertain as it has ever been. However, once the first phase ended and the extended scheme kicked off in October 2010, only seven finance companies took part. Total guaranteed deposits in the scheme fell from $133b to $2b.

            Why? Because the public, and specifically retail investors, could smell the wet dogs a mile off. All the banks had successfully positioned their businesses such that they didn’t need the guarantee and were operating with comfortable liquidity margins. Only the finance companies that were up the creek without a paddle had any incentive to participate in the extended scheme and take the extra time to get their businesses in shape, or fail.

            Kiwibank doesn’t need a guarantee. It is reasonably profitable. It operates just fine in competition with the big-4 and other domestic banks. If there was a need for a guarantee to be in place, for Kiwibank specifically, it would be BECAUSE of it’s failure to perform and poor internal decision making, not because of some mythic offshore crisis fears.

  4. Tamati 4

    A Kiwibank style state competitor would keep the private sector honest. But doesn’t Kiwibank already have a Kiwisaver option? Isn’t this already a state sector Kiwisaver provider?

  5. dv 5

    Kiwibank sold to Mercer a few years ago.

    • Tamati 5.1

      Didn’t they later buy Gareth Morgans kiwisaver?

      • Chooky 5.1.1

        Yes Kiwibank has bought Gareth Morgan’s kiwisaver…but he still runs it

        ….all the more reason for Government guaranteeing Kiwibank…in fact I think it is a scandal it isnt govt guaranteed

        …….in a international bank meltdown what would happen to it.?….. sold for a song to Goldman Sachs?

        • Tamati 5.1.1.1

          Your Kiwibank deposits are implicitly guaranteed by the state. No need to lose sleep. It’s such a small player it’s unlikely massively affected by overseas crises.

          • Chooky 5.1.1.1.1

            @ Tamati….”implicitly guaranteed” is for fools…..even if Kiwibank is “such a small player” it is exposure to international bank crises which will be the deciding factor ….as to whether NZ public is affected or not and loses their a savings and assets or not …only Israel and New Zealand do not have a deposit guarantee ( see below post by greywarbler)

            greywarbler 11
            20 October 2013 at 12:06 pm
            Interesting stuff we should all know about.
            Deposit guarantee scheme, depositor insurance, capped bank scheme – only Israel and New Zealand don’t have these in the OECD.
            http://www.radionz.co.nz/national/programmes/sunday
            Audio will follow soon.

            11.40 Wayne Brittenden’s Counterpoint
            Five years ago this month the global financial decline kicked in deeply. Wayne looks at the implications of the next meltdown that some punters are predicting, and the potential for serious social unrest. Chris follows up with Dr Bill Rosenberg, economist at the New Zealand Council of Trade Unions.

            The British were apparently freaked out by bankers like Goldman Sachs into with scary scenarios
            of rioting and looting if banks collapsed.

            Bill Rosenberg says that NZ’s bank accounts can be as low at times half of NZs with bank a/cs have less than $580 in their account. How would we manage if there was a collapse of our banks?

            Most of our banks are owned by Australians – except Kiwibank thanks Mr Anderton, and some ex building society ones still not sold off to furriners. Australian banks have a deposit guarantee scheme but it doesn’t apply to us though we banks with those Oz banks in NZ! The usual way of treating NZ by that country. The funds of Australian banks would be drawn on to meet their obligations in Oz. It could be that funds from their branches in NZ would be utilised to meet the extra demand, with no legal responsibility to provide for us here. Great, Ansett all over again. Getting NZ to pay for what would be otherwise an Oz obligation. We bought Ansett, like naive idiots, and we naively have allowed Oz to get their beefy hands on our banks too in line with our friendly relationship under CER.

          • thatguynz 5.1.1.1.2

            Might also be worth doing some reading on the “Open Bank Resolution” Tamati. Unless of course you are happy with your bank accounts taking a bit of a haircut in times of trouble?

  6. millsy 6

    about 30-odd years ago, we had heaps of things that were nationalised. No one really saw it as an issue back then. Even National did its fair share of nationalisation. The Maui pipeline (NGC/Petrocorp), Mt Cook’s Hermitage Hotel (THC), Kaingaroa Forest (NZ Forest Service).

    And really, kinda over the USSR comparisons. The Soviet Union was the elimation of all private property, and state ownership of everything. In the USA federal, state and local governments exetensively own power stations, railway services, canals, telecomms networks, irrigation systems, and and all sorts of wierd and wonderful things. Is he going to ring Obama and compare his country with the USSR?

    As for state owned KS, bring it on. KiwiFund sounds good to me. Though I would leave the option of private providers, as they can fill certain niches that a KiwiFund entity cannot fill.

    • Tat Loo 6.1

      The Soviet Union was NOT an elimination of private property. In the first months of the Soviet Union, land which formerly belonged to the Tzarish aristocracy was divided up and given to ordinary farmers and workers.

      Therefore the rise of the Soviet Union was characterised by the creation of private property. Now what happened later on driven by Stalin, well, that wasn’t socialism or communism, just authoritarian tyranny.

      Now, Dmitry Orlov (who has originated a great theory of ‘Superpower Collapse’) makes this point about the state owned apartments that almost all USSR citizens lived in, at the time of the USSR disintegration: that ownership structure meant that most Soviet citizens did not suffer bank repossession of their houses, and were not turfed out on the street: unlike the US example. And were then gifted with valuable private property holdings of those apartments, that they hadn’t needed to pay for.

      One last point – although the USSR went away Russia definitely did not.

      • red rattler 6.1.1

        Tat most industries, banks, transport etc were socialised in the Soviet Union.

        Agricultural land was already privatised before the revolution so this involved the redistribution not the creation of private property. The policy of the Bolsheviks was to introduce land collectivisation only when the revolutions in Europe would allow the introduction of advanced technology. This it was expected would then encourage small peasants to collectivise voluntarily.

        When this didn’t happen as a stop gap measure the peasants were encouraged to become capitalist producers (employ agricultural workers) and sell at market prices as an incentive to feed the workers in industry. The hope was that socialised heavy industry would then develop and mechanise agricultural so that socialisation of industry and agriculture could proceed together. At this point virtually no private property would have remained.

        Because of the Soviet Union’s economic backwardness and its invasion and isolation by world capitalism this policy failed and Stalinist totalitarianism was the result. You are correct to say that the forced collectivisation of the peasantry was neither socialism nor communism.

        • Tat Loo 6.1.1.1

          Cheers rr.

        • Bill 6.1.1.2

          Hmm. And there was me thinking that all agricultural produce and whatever else had to be sold to the state at set prices so that the state would use it’s (cough) wonderfully efficient bureaucratic ‘machine’ to distribute whatever was produced.

          And the inefficiencies, farce and accompanying oppression of that led (or so I believed) to the Kronstadt uprising in 1921 that Trotsky and Lenin crushed by use of arms.

          Then after containment had been achieved (read: death and exile) , Lenin decreed a certain ‘loosening up’ of internal trading arrangements.

          And 100 years on, the official state propaganda of the time is still peddled by tattered cult remnants within the left to underpin some notion that Lenin was benign and the Bolshevic’s fine and if only Trotsky had assumed the mantle of leader instead of that narsty Stalin…..

        • Rogue Trooper 6.1.1.3

          good summaries rr, and Bill

  7. Tamati 7

    A pet hate of mine with my ASB Kiwisaver is how they hide their fees when you check your balance online. They have a single row “Investment Returns and Fees” , i.e. only show me my net return, not the investment return and the amount they charged me for the privilege.

  8. tc 8

    Winnie is coming for you johnny, he may not be in the next govt but hes going to do his best to ensure your number is up.

    Shonkey comparing it to the soviet union rather than constructing a reasonable narrative gives winnie a stick to beat him with.

    A plausible policy which Key just flips the bird at, keep it up johnny.

  9. Draco T Bastard 9

    A public fund can achieve significant fee and cost reductions through greater economies of scale. Our fund would be an optional default KiwiSaver fund.

    It can do that but only if it’s a monopoly. If they try to maintain the competition then the costs would still be higher than optimum just as Peters has said.

    So instead of 20 managers having different strategies, different ways of doing things, different profiles, some more risky, some less risky, that you choose, so why on earth would we want to do that,” he said.

    Yeah, because a state monopoly would only have one person running it and not lots :roll:

  10. bad12 10

    Yep, if you sit and examine what NZFirst and the Green Party says on a pile of issues a lot of time it simply looks like the generation gap in effect, both are saying much the same thing which they see as being a lot of the time arrived at by different routes, the same none-the-less,

    Not only is KiwiSaver, as Peter’s suggests,a ticket clipping frenzy for the free market my view is that as we reach deep into the retirement bubble we are going to find that many of the funds run by the ‘market’ are going to turn up empty handed leaving many who will have invested their life savings with an empty nest egg,

    Kiwi-saver funds in many cases being run by what is loosely described as ‘the non-banking financial industry’ and as we have just seen it will be amidst a ‘crisis’ in the future that what will have been a ‘ponzi-scheme’ for many years will all unravel,

    Peters also alluded to insurance as another area that He sees the Government having a direct role of provision in, and i cannot disagree with Him either, obviously this is also highly topical as an industry at present considering the treatment, or should i say mistreatment by the insurance industry of the people of Christchurch during their hour of need,

    What is obvious, and glaringly so when when we take an intense look at especially the service industries which a majority rely upon is that there is no real competition, such is just a myth, what we have is crony capitalism of the worst kind where ‘Cartel Capital’ provides the illusion of ‘competition’ while driving the costs of the product or service ever higher,

    We can hope for such Cartel Capitalism to be defeated via regulation and the regulators, however, in the final analysis my opinion is that to ensure true competition in the markets Government has far more to gain by the provision of that competition rather than have it’s regulators forced to spend monies essentially gained by both sides ‘taxing’ us to try and force upon those who would involve themselves in Cartel Capitalism that competition through the courts…

    • Tat Loo 10.1

      Kiwi-saver funds are all being run by what is loosely described as ‘the non-banking financial industry’

      which is an integral part of the so-called “shadow banking system”.

  11. Tim 11

    And there’s one thing that’s a bit different this time (as far as Winnie ‘keeping his word’). It’s that this next time round will be his swan song, and as his bro once said to me – he’d love to have something positive and enduring to be remembered by.
    When he eventually karks it, it’s going to be bloody hard to ensure his ego hops into the coffin with him.

    …. so the “And Key seems to be suggesting NZ First would not stand by this policy in any post-election negotiations” might be another money trader’s gamble that isn’t worth shit.
    Winnie will be thinking “mmmmm …. take the baubles, or take the latter” I think it’ll be the latter.

    What would I know though!

  12. Richard29 12

    Interesting – Winston not to be outdone by Labour has decided to start ripping off Green party policy himself.. It’s all good, imitation is the sincerest form of flattery!

    The really interesting bit to me is seeing how John Key’s tone has changed in two years:

    Commenting on Green Public Option for Kiwisaver in 2011:
    John Key says he’s not sure about that move, but says the fee issue needs to be looked at.”If you outsource that to the Government, it might lead to an implied Government guarantee that we’re actually guaranteeing the funds, and in KiwiSaver there is no guarantee that your funds are safe so that might be the risk there.”
    http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10764330

    Commenting on NZ First KiwiFund proposal in 2013:
    “I know that these guys are on this track at the moment of wanting to nationalise electricity, nationalise building, nationalise our management funds, they’ll be nationalising supermarkets and petrol stations and everything else soon.
    “That worked really well for the Soviet Union when they were doing that,” Key said.
    http://www.stuff.co.nz/business/money/9305797/Peters-names-price-for-any-coalition-talks

    For the Greens he acknowledges the importance of discussing how to reduce fees and makes one or two light criticisms of potential drawbacks in the policy. For NZ First he just goes into full “Red Peril” campaign mode…

    I think part of that is probably panic – in 2011 he was coasting to victory and feeling perhaps a bit magnanimous, now he’s staring at almost certain electoral oblivion in 2014…

    The other part may be the different audiences (or perceptions of them) for the two parties. NZ First voters are perceived as simple, less educated and prone to populism so they get the knee jerk hyperbolic response. Green voters are perceived as mostly educated urban liberals, the kind of swing voter that Key cannot afford to be dismissive of, so they get the more measured and reasoned response actually engaging with the subject matter…

  13. Draco T Bastard 13

    “I know that these guys are on this track at the moment of wanting to nationalise electricity, nationalise building, nationalise our management funds, they’ll be nationalising supermarkets and petrol stations and everything else soon.

    What;s the difference between capitalists owning a farm/supermarket/petrol station through shareholding and hiring a manager to run it and the state doing the same thing?

    Answer: Nothing except that state ownership won’t have the dead-weight loss of profit on it.

    The only argument that I can see against state ownership is that a few people won’t get rich at everyone else’s expense.

    • Tat Loo 13.1

      Already happening. Pretty sure the Chinese are using Landcorp to manage the former Crafar Farms.

      • Draco T Bastard 13.1.1

        Yeah, I know. The point being that there’s no difference in the management and so it can’t possibly be any worse just because it’s government owned.

  14. Tim 14

    NRT sums it all up concisely (as he usually does):
    http://norightturn.blogspot.co.nz/2013/10/for-kiwifund.html

    Where’s King Kong and Chris70something-or-other and various others by the way?
    Is there some Nat crisis meeting in a War room somehwere going on?

  15. geoff 15

    I seem to recall that in the MSM (tv 1news i think) Winston’s idea was called a ‘radical plan’. Who’s feeding them these lines?

  16. Tracey 16

    Is a comparison with the cullen fund wrong because the money available to that fund at inception gave it better options than a govt backed kiwisaver

    • geoff 16.1

      Tracey, I think the relevant comparison being made with kiwisaver is that money is being wasted going to line fund manager’s pockets which wouldn’t have occurred if that money had been invested in government-run fund such as the Cullen fund.

      • Tat Loo 16.1.1

        Exactly. And the financial services industry trying to defend itself by saying, well, at least our fees are marginally less than in Australia, is pretty disingenuous. As has been pointed out, they are taking hundreds of millions of dollars from kiwi workers, while still achieving far lower gross returns than the government has been able to.

        So much for the right wing mantra of private sector is always better. No it’s not; unless you are talking about better for the 1%.

        • Draco T Bastard 16.1.1.1

          Better for the 1% is really all the right really worry about. Their changes to welfare and attacks on workers rights certainly show that they don’t care about everybody else.

          • thatguynz 16.1.1.1.1

            And that is only because the vast majority of the right wing voting muppets haven’t yet figured out that they themselves aren’t actually the 1%. Aspirational myopia perhaps? ;)

  17. Sable 17

    Peters is dead right. Its the same problem Australia has. Funds are devalued because rip off fees are levied by private trust management companies. Worse sill people are locked dealing with these firms and are effectively held to ransom by them.

    Norman an Australian himself has no doubt seen this first hand, as have I. Indeed I have money in super in Australia which is being slowly leeched away by fees.

    I do not see why this is a bad idea or why the Greens and Labour would not endorse it.

    Peters platform is the elderly and retirees so he is looking after his constituents which is what he is paid to do. His loyalty is the people who vote for him not other political parties and good on him for it.
    I’d like to see Labour acknowledge and take up policies that support working class Kiwi’s but fat chance of that.

    • tc 17.1

      Yes Oz has been reworking it’s portability rules and fee structures with a new lower fee regime coming into effect recently. It was incredible lucrative for fund managers before that came in.

      If your fund isn’t performing, shop around and move it Sable. Asgard comes highly recommended.

  18. Crunchtime 18

    A very sensible idea from Winston.

    (don)Key’s reading and comprehension have gone out the window – he seems to think that Peters’ plan is to replace all other fund providers with a govt one, which it is not.

    • Lanthanide 18.1

      I’m sure Key, or at least the people that write what he says, know exactly what Winston is saying.

      But Key has a very strong track record of deliberately mis-stating or mis-interpreting things that other politicians have said. Because Key always gets media coverage, this mis-representation of reality is what 80% of the voting public hear, and believe.

      What Winston has proposed is fairly moderate, but what Key is re-stating it as is pretty extreme. The voting public don’t like extreme, so this is a way for Key to discolour the whole debate with these non-factual claims, but do it in such a way that he’ll never be called up on it – and if he is, he can just say “mea culpa, but it’s because Winston is so hard to understand that I made that mistake” – and the media poodles will give him yet another free pass.

  19. phil 19

    I see two apologists for the finance sector re. Winstons proposal for Kiwisaver, promptly out of the starting blocks on Radio NZ (Nine to Noon) defending their pot of gold. I notice no counter opinion. No surprise, but will RNZ seek an independent view, rather than the usual vested interests.

  20. dave 20

    the americans have 401ks and wall street has plundered those accounts and used them to hide losses sell crap derrivatives personally i would back nz first and greens plan lets get some economy of scale in the system .

    • Tat Loo 20.1

      Spot on. That system was designed to give big fund managers huge amounts of workers funds to gamble with on the Wall St and shadow banking casinos. Half the reason so many US pension funds will not be able to meet their commitments is because the financial sector has walked away with the money.

    • Phil 20.2

      401k’s had, and have, very little derivative exposure, and are largely comparable to the mix of funds that Kiwisaver has. They’re invested mainly in equities. Only 19% of the funds are in bonds and fixed-interest securities (a portion of which would be RMBS).

      They also bounced back quickly after the GFC, so the idea that wall street has ‘plundered’ their money is false.
      http://www.ici.org/policy/retirement/plan/401k/faqs_401k

      • Tat Loo 20.2.1

        A highly partial financial industry lobbyist website? Surely you can do better than that.

        Here let’s try this:

        http://billmoyers.com/2013/09/25/how-401ks-rewarded-the-rich-and-turned-the-rest-of-us-into-big-losers/

        The report reveals that median retirement savings today stand at a paltry $44,000. But if you start looking at affluent America, the picture changes dramatically. A household at the 90 percentile of the retirement savings distribution had nearly 100 times more socked away for retirement than the median household. And the top 1 percent? Households at that lofty level had stashed more than $1.3 million in retirement account savings.

        In a nutshell, the 401(k) revolution created a few big winners and turned most of us into losers.

        • Phil 20.2.1.1

          Dave’s post was factually incorrect. That the data to prove it comes from the fund management industry is because they’re the ones collating the data into useable information in the first place. I make no comment on the quality of the 401k scheme generally, but do note that it looks a LOT like Kiwisaver.

          By the way, trying to critique a post you call ‘highly partial’ by linking to a partisan political pundit… not your best work.

          • Tat Loo 20.2.1.1.1

            Bill Moyers is one of the most respected long standing names in US journalism. He’s not a “political pundit”. That his reports don’t suit you is rather beside point.

            • Phil 20.2.1.1.1.1

              That his reports don’t suit you is rather beside point

              Pots and kettles, my friend, pots and kettles…

  21. KJT 21

    We already have a fund which should be being used to build the capability of New Zealand, including educating and training our children, and building infrastructure and sustainable energy and industry for the future. Taxation! And a cheap and cost effective super scheme. National super.
    Diverting even more money to the financial industry to gamble with is going to end in tears, as it already has in the USA. As pension funds and ordinary peoples savings are stolen to prop up the losses already made.
    Government is already planning laws, like Crete, so they can grab savings to prop up bank profits.

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    Labour | 04-09
  • Labour commits to stable funding for voluntary sector
    A Labour Government will establish long-term funding and streamline contract accountability for community and voluntary groups, says Labour’s spokesperson for the sector Louisa Wall. Announcing Labour’s policy for the community and voluntary sector, she said this would give much greater...
    Labour | 04-09
  • Better trained and skilled workforce under Labour
    Labour is committed to a skilled workforce that benefits businesses as well as their workers, and will increase workplace training to improve productivity and drive innovation, Labour Leader David Cunliffe says. “Labour believes the Government should support New Zealanders into...
    Labour | 03-09
  • Labour will make renting a better option
    Labour will provide greater security of tenure for renters, and build more state and social housing, says Labour’s housing spokesperson Phil Twyford. “Labour believes every kid deserves a decent start in life. That means a warm, dry and secure home....
    Labour | 03-09
  • At least 15 new taxes under National
    John Key is the last person to talk about creating taxes, presiding over a Government that has imposed at least 15 new taxes, Labour Leader David Cunliffe says. “John Key tried a novel line in the debate last night claiming...
    Labour | 03-09
  • Labour will strengthen New Zealand’s democracy
    A Labour Government will act quickly to protect and enhance New Zealand’s reputation as one of the most open and least corrupt countries in the world, Labour Leader David Cunliffe says. “The health of any democracy is improved by greater...
    Labour | 02-09
  • MANA Movement says tax cut on GST must be first priority – Minto
    “If Prime Minister John Key has money available for tax cuts then cutting GST must be the first priority”,  said MANA Movement Economic Justice Spokesperson John Minto. GST is a nasty tax on low-income families”, said Minto. “People in the...
    Mana | 02-09
  • The Maori Party’s Mana-Enhancing Relationship with National – Minto
    “First we had Cameron Slater and David Farrar backing Labour’s Kelvin Davis bid to unseat MANA Movement Leader and MP for Te Tai Tokerau Hone Harawira.  Now we have Slater writing a pro-Te Ururoa Flavell article on his website, Whale...
    Mana | 02-09
  • There’s Only One Poll That Counts
    “One of the oldest sayings in politics is that there is only one poll that counts – the one on Election Day – and that’s the one that I am focusing on” remarked the MANA Movement candidate for Waiariki, Annette...
    Mana | 02-09
  • Local communities critical to Civil Defence
    Labour will focus on empowering New Zealand communities to be resilient in Civil Defence disasters, says Labour’s Civil Defence spokesperson Clare Curran. Announcing Labour’s Civil Defence policy, she says that Labour will work with schools, voluntary agencies and community groups...
    Labour | 02-09
  • Labour looks to long-life passports, gambling harm review
    A return to 10 year passports and a review of gambling laws are highlights of Labour’s Internal Affairs policy released today. “More than 15,000 New Zealanders signed a petition calling on the Government to revert to the 10 year system...
    Labour | 02-09
  • MANA Movement Leadership stands strong behind Internet MANA relationship
    “There is now, and always will be, a range of views about many issues within our movement and members are free to express them, but Georgina’s views on Kim Dotcom are not shared by the MANA Movement leadership or the vast majority...
    Mana | 01-09
  • Rebuilding the New Zealand Defence Force
    A Labour Government will make it a priority to rebuild the capacity of the Defence Force to carry out the tasks expected of it, says Labour’s Defence Spokesperson Phil Goff. Releasing Labour’s Defence Policy today he said the NZDF has...
    Labour | 01-09
  • TVNZ election coverage – white people telling other white people why Nati...
    TVNZ election coverage – white people telling other white people why National Party is great...
    The Daily Blog | 18-09
  • REVIEW: Royals of Kihikihi
    What an absolutely stunning show.  I had to ask twice to check I’d heard right that this is the first staged production for Samuel Christopher, who also played a raw, real, but vulnerable, Wolf Royal, home from London for his...
    The Daily Blog | 18-09
  • 800 Cops to detain 15 ‘terrorists’ – why Australia’s hysterical Isl...
    I’m sorry but I can’t take this current Australian terror threat seriously. 800 cops to detain 15 people and arrest one of them? A week after Abbot decides to send in Australian forces to the cluster fuck of Iraq, suddenly...
    The Daily Blog | 18-09
  • Unbelievable corruption inside Government to attack Kim Dotcom
    The corruption inside this Government just more and more filthy – we now have an ex-Customs Lawyer quitting  after being told to bury information that could embarrass the Government, specifically to do with Kim Dotcom… Curtis Gregorash said he was told...
    The Daily Blog | 18-09
  • Coalition for Better Broadcasting – Everyone Loves A Win-Win That Keeps G...
      Permit me to quote some figures at you… -68% of New Zealanders think political news on television focuses too much on politicians’ personalities and not enough on real issues. This is the key result of a recent UMR survey commissioned by...
    The Daily Blog | 18-09
  • Jeremy Wells’ Mike Hosking rant on Radio Hauraki: Today, another week of ...
    Jeremy Wells’ Mike Hosking rant on Radio Hauraki: Today, another week of being the most in demand broadcaster in the country...
    The Daily Blog | 18-09
  • EXCLUSIVE: Te Tai Tokerau independent poll (44% Hone-27% Kelvin) vs Maori T...
    The Te Tai Tokerau Maori TV poll on Monday this week painted a bleak picture for Internet MANA supporters, and it’s results have been seized upon by Labour, NZ First and even the Maori Party (who seem set once again...
    The Daily Blog | 18-09
  • The time for TPPA weasel words is over
    Almost every day of the election campaign there has been a policy announcement that would potentially run foul of what I understand is currently in the Trans-Pacific Partnership Agreement (TPPA):  more constraints on foreign investment or investors … regulation of...
    The Daily Blog | 18-09
  • MELTDOWN – Maori Party turns on their own Te Tai Tokerau candidate – ag...
    The tensions are building in Te Tai Tokerau with the Maori Party on the verge of meltdown. Days out from the election, the Maori Party Executive has tried to heavy their own Te Tai Tokerau Electoral Committee and their own candidate, Te Hira Paenga,...
    The Daily Blog | 18-09
  • We Can Change this Government
    We Can Change this Government – Mike Treen at the First Union stop work election meeting...
    The Daily Blog | 18-09
  • Election 2014: For and Against
    With the general election tomorrow, we have had a very noisy campaign but little sign that the electorate wishes for a fundamental change of governmental direction. This reflects in part the fact that the economic cycle is close to its decadal...
    The Daily Blog | 18-09
  • Eye To Eye Uploaded: Martyn ‘Bomber’ Bradbury
    This interview was filmed a couple of weeks ago between Willie Jackson and myself, I was a tad off with my prediction of NZ First....
    The Daily Blog | 18-09
  • The Donghua Liu Affair – The Players Revealed
      . . – Special investigation by Frank Macskasy & ‘Hercules‘ Speculation that the Beehive office of Immigration Minister, Michael Woodhouse, was behind the release of a letter linking Labour leader, David Cunliffe, with controversial Chinese businessman, Donghua Liu, is...
    The Daily Blog | 18-09
  • As if you needed another reason to boycott Telecom/Spark – they sold NZ d...
    It should read ‘never stop spying’. As if you needed another reason to boycott Telecom/Spark – they sold us down the river to the US by allowing the Southern Cross cable to be tapped… The ability for US intelligence agencies...
    The Daily Blog | 18-09
  • The NZ First-Labour Party attack strategy against Internet MANA better work
    The final days of the campaign are ticking down and Labour and NZ First are manoeuvring to kill off the Internet MANA Party by both backing Kelvin Davis for Te Tai Tokerau. It’s a risky gambit that they better pray to Christ...
    The Daily Blog | 18-09
  • Bill English’s latest insult to beneficiaries – apparently they are lik...
    National’s hatred towards the poor continues unabated as National desperately try to throw raw meat to their reactionary voter base in the hope to inspire enough hate and loathing to win back their redneck voters from the Conservative Party and from...
    The Daily Blog | 18-09
  • Eminem ain’t happy with John Key
    Eminem ain’t happy with John Key...
    The Daily Blog | 18-09
  • Key claims he did not inhale
    Key claims he did not inhale...
    The Daily Blog | 18-09
  • Final prediction on election result 2014
    What an election campaign. The character assassination of David Cunliffe kicked things off with the Herald on Sunday falsely claiming $100 00 bottles of wine, $15 000 books and $150 000 in donations  from a donor that turned out to be...
    The Daily Blog | 18-09
  • Live blog: Bainamarama takes commanding lead in Fiji elections
      Interview with Repúblika editor Ricardo Morris and Pacific Scoop’s Mads Anneberg. PACIFIC SCOOP TEAM By Ricardo Morris, Mads Anneberg, Alistar Kata and Biutoka Kacimaiwai in Suva WHILE the results are provisional at this stage, it is clear today that...
    The Daily Blog | 17-09
  • 5AA Australia: NZ Elections Two Days To Go! + Edward Snowden + Julian Assan...
    Recorded live on 18/09/14 – Captured Live on Ustream at http://www.ustream.tv/channel/multimedia-investments-ltd 5AA Australia’s Peter Godfrey and Selwyn Manning deliver their weekly bulletin: Across The Ditch. This week, they discuss the latest news as New Zealanders go to the polls on...
    The Daily Blog | 17-09
  • What has Colin Craig done for his Press Secretary to quit 2 days before ele...
    This is VERY strange.  Colin Craig’s Press Secretary Rachel McGregor, has quit 2 days before the election, allegedly telling ZB that Colin Craig was a “very manipulative man”. I’ve met Rachel many times in the past as Colin’s Press Secretary, she is...
    The Daily Blog | 17-09
  • “If you want steak, go to the supermarket and buy steak,” – A brief w...
    “If you want steak, go to the supermarket and buy steak,” said Key in the final leaders debate. Problem of course is that the 250 000 – 285 000 children living in poverty can not afford steak, milk, butter, eggs...
    The Daily Blog | 17-09
  • National’s final bash of beneficiaries before the election
    On cue, whenever National feel threatened, they roll out a little bennie bash just to keep their redneck voter base happy. Nothing like a bit of raw meat policy to keep National voters focused on the evil threat solo parents...
    The Daily Blog | 17-09
  • With All Of This In Mind, I Vote
    This is my last blog before the election and I really just want to speak from the heart. Right now in this country it seems to me that a lot of people consider the “essentials” in life to be simply...
    The Daily Blog | 17-09
  • Left has to vote strategically this election
    The dedication, loyalty, and tribalism of party politics means that sometimes the left lets itself down by not voting strategically. We all want our favoured party to get maximum votes, naturally, but the winner-takes-all approach doesn’t always suit multi-party left...
    The Daily Blog | 17-09
  • Dear NZ – as you enter the polling booth, stand up for your rights
    The last days before a NZ general election are a busy time as politicians make their pitch and party activists prepare to get out the vote. It is sort of weird watching from the distance of Europe the strangest election...
    The Daily Blog | 17-09
  • What is Waihopai, John, if it isn’t a facility for “mass surveillance...
    John Key assured us on RNZ’s Nine to Noon programme yesterday that “In terms of the Fives Eyes data bases… yes New Zealand will contribute some information but not mass wholesale surveillance.” How does this square with the operation of the...
    The Daily Blog | 17-09
  • GUEST BLOG: Catherine Delahunty – Mass Surveillance and the Banality of E...
    Renowned journalist and intellectual Hannah Arendt coined the phrase “the banality of evil” to describe the normalisation of genocide in Nazi Germany. I thought of her phrase when I was listening to Glenn Greenwald and other international whistle-blowers talking about...
    The Daily Blog | 17-09
  • Election. Down. To. The. Wire
    Funny how last week it was John Key winning by 50%, now it’s neck and neck. I have always believed this election would be down to the wire and it is proving so. The flawed landline opinion polls the mainstream...
    The Daily Blog | 17-09
  • 3rd Degree uses Whaleoil for story ideas as if Dirty Politics never happene...
    TV3s 3rd Degrees smear job on Kim Dotcom last night doesn’t bear much repeating. It was pretty pathetic journalism from a team who have brought us some great journalism in the past. It is sad to see 3rd Degree stooping...
    The Daily Blog | 17-09
  • Live blog: Bainimarama takes early lead in Fiji’s election
    Pacific Scoop’s Alistar Kata reports from yesterday’s voting. By Alistar Kata of Pacific Scoop in Suva Prime Minister Voreqe Bainimarama took an early lead in provisional results in the Fiji general election last night. With provisional results from 170 out...
    The Daily Blog | 17-09
  • Has The NSA Constructed The Perfect PPP?
    Former intelligence analyst and whistleblower, Edward Snowden – speaking live to those gathered at the Auckland Town Hall on Monday September 17, 2014. Investigation by Selwyn Manning. THE PRIME MINISTER JOHN KEY’s admission on Wednesday that whistleblower Edward Snowden “may...
    The Daily Blog | 17-09
  • No way – Key admits Snowden is right
    After claiming there was no middle ground. After claiming there was no mass surveillance. After calling Glenn Greenwald a henchman and a loser. After all the mainstream media pundits screamed at Kim’s decision to take his evidence to Parliamentary Privileges...
    The Daily Blog | 17-09
  • Bad luck National
    ...
    The Daily Blog | 16-09
  • The incredible changing John Key story on mass spying – why the Moment of...
    While the mainstream media continue to try and make the Moment of Truth about Kim’s last minute decision to prolong his battle against John Key past the election into the Privileges Committee, the reality is that the Moment of Truth...
    The Daily Blog | 16-09
  • GUEST BLOG: Curwen Rolinson – Themes of the Campaign
    There’s one area of a political campaign that just about everyone, at some point, falls afoul of. The campaign song. I’m not sure quite why it is, but it seems to be almost impossible for political parties to come up...
    The Daily Blog | 16-09
  • GUEST BLOG – Denis Tegg – The NSA slides that prove mass surveillance
    The evidence presented by Glenn Greenwald and Edward Snowden on The Intercept of mass surveillance of New Zealanders by the GCSB is undeniable, and can stand on its own. But when you place this fresh evidence in the context of...
    The Daily Blog | 16-09
  • Ukraine, United Kingdom, Ireland, Scotland
    The Ukrainian civil war discomforts me. It seems to me the most dangerous political crisis since the Cuban missile crisis of 1962. And it’s because of our unwillingness to examine the issues in a holistic way. We innately prefer to...
    The Daily Blog | 16-09
  • John Key’s love affair with a straw man – the relationship intensifies
    John Key’s love affair with the straw man is now a fully-committed relationship. It’s now the first love of his life. Sorry Bronagh. Yesterday I pointed to Key’s constant assurances that there is no mass surveillance of New Zealanders by...
    The Daily Blog | 16-09
  • A brief word on why Wendyl Nissen is a hero
    Wendyl Nissen is a hero. The sleazy black ops attack on her by Slater and Odgers on behalf of Grocery Council chief executive Katherine Rich is sick. All Nissen is doing in her column is point out the filth and...
    The Daily Blog | 16-09
  • She saw John Key on TV and decided to vote!
    . . NZ, Wellington, 15 September – ‘Tina’* is 50, a close friend,  and one of the “Missing Million” from the last election. In fact, ‘Tina’ has never voted in her life.  Not once. In ‘Tina’s’ own words, politics has...
    The Daily Blog | 16-09
  • Eminem sues National Party for unlawful use of ‘Lose yourself’ bhahahah...
    …ahahahahahahahaha. Oh Christ this is hilarious… National Party sued over Eminem copyright infringment US rapper Eminem is suing the National Party for allegedly breaching copyright by using his song Lose Yourself in its campaign advertisements. The Detroit-based publishers of Eminem’s...
    The Daily Blog | 16-09
  • Are the Greens about to be snookered by a Labour-NZ First Government?
    I wrote last week that it was smart politics that the Greens pointed out they could work with National, the soft blue vote that’s looking for a home in the wake of Dirty Politics isn’t going to Labour, so the...
    The Daily Blog | 16-09
  • BLOGWATCH: Fonterra join 2Degrees and boycott Whaleoil
    In the wake of Dirty Politics, advertisers are pulling their advertising out of Whaleoil. PaknSave, Evo Cycles Pukekohe, Localist, 2 Degrees, Fertility Associates, iSentia, NZ Breast Cancer Foundation, Maori TV, Bookme.co.nz, Dobetter.co.nz and the Sound are now joined by Fonterra...
    The Daily Blog | 16-09
  • PM Key accused of allowing secret ‘spook’ cable sensors to spy on citiz...
    Pulitzer prize-winning journalist Glenn Greenwald (left) and Kim Dotcom at the “moment of truth” political surveillance meeting in Auckland last night. Image: PMW By ANNA MAJAVU of Pacific Media Watch NEW ZEALAND Prime Minister John Key has been accused of...
    The Daily Blog | 15-09
  • Fiji pre-election ‘politics’ blackout stirs media protests, frustration
    BLACKOUT DAY – Monday, day one of the “silence window” in Fiji leading up to the close of polling in the general election at 6pm on Wednesday. And this is under the draconian threat of a $10,000 fine or five...
    The Daily Blog | 15-09
  • “Now the work of movements begins”: government corruption, media bias, ...
    I am so tired of the dirty politics of the National government, aren’t you? I am tired of John Key and his pathetic attacks on award-winning journalists who have spent their careers fighting and digging for truth and good. The...
    The Daily Blog | 15-09
  • Moment of Truth review, smoking guns and the awful coverage by the NZ msm
      There were queues unlike any the Town Hall has seen, 1000 were turned away once it became full…     …full to the rafters. The energy and atmosphere within the room was extraordinary, and it begun…   …Glenn Greenwald...
    The Daily Blog | 15-09
  • Why Maori TV’s Te Tai Tokeraou Poll will be proved wrong
    If Hone Harawira had a dollar every time the media wrote off his chance of winning Te Tai Tokeraou, he would have more money than Kim Dotcom. Remember the by-election? Hone was 1 point ahead of Kelvin in an exact...
    The Daily Blog | 15-09
  • Left Coalition Will Save Dolphins
    A left coalition would safeguard both Māui and Hector’s dolphins, as well as revive our inshore ecosystems. Labour, Internet Mana and the Green Party all have strong policies in place for dolphin protection. The Maori Party, and to a certain...
    Scoop politics | 19-09
  • Waihoroi Shortland: Ngāti Hine is not standing alone
    The Chairman of Te Rūnanga a Iwi o Ngāpuhi, Sonny Tau is blowing smoke worthy of a Dotcom rally with claims that Ngati Hine is standing alone in its opposition to Tūhoronuku says the Chairman of Te Rūnanga o Ngati...
    Scoop politics | 19-09
  • Oceania voices on environment loud and strong
    While money and energy continues to be spent on global talks about climate change, Pacific islanders are scrambling to build sea walls out of sticks, stones, shells and coral, to protect their lands and homes from erosion and rising sea...
    Scoop politics | 19-09
  • Prime Time with Sean Plunket – Tonight
    No MPs tonight --- the campaign will be over at 9 30. Instead we will look back --- and possibly forward on what we have learned and what might happen. Listener Political Columnist Jane Clifton Editor in Chief, NZ Herald,...
    Scoop politics | 19-09
  • Election fails to address youth financial wellbeing
    Young people don’t feel included in New Zealand’s financial success and believe inequality is a problem, according to a new survey conducted by Westpac’s Fin-Ed Centre at Massey University....
    Scoop politics | 19-09
  • Winston’s Waffle doesn’t hide the facts
    The Conservative Party is celebrating the ASA's finding announced today that rejected all but one of the complaints raised against its controversial “Conservatives or Peters” pamphlet. “Despite pages of complaints from Peters legal team the only...
    Scoop politics | 19-09
  • NZ Independent Coalition looking forward to tomorrow
    “Our team is looking forward to tomorrow. It is a real opportunity to reclaim politics for the people,” said NZ Independent Coalition leader Brendan Horan....
    Scoop politics | 19-09
  • Insights Issue 35/2014 – 19 September 2014
    Insights Issue 35/2014 - 19 September 2014 In This Issue • RMA reform the golden unicorn of policy | Jenesa Jeram...
    Scoop politics | 19-09
  • Special voting arrangements made for NIWA crew
    One of the most unusual polling stations for this year’s general election is in the middle of the ocean miles from land. NIWA’s flagship research vessel Tangaroa, has been doubling as a polling booth for crew and scientists at sea....
    Scoop politics | 18-09
  • Tourism operators urged to vote strategically
    Tourism operators should make sure they know their local candidates’ view on tourism and use their vote to support the country’s second largest export industry, says Chris Roberts, Chief Executive, Tourism Industry Association New Zealand (TIA)....
    Scoop politics | 18-09
  • WGTN: March for free education
    We are students, university staff, and members of the community. Whichever parties form a government after September 20th, we are demanding an end to corporatisation of education....
    Scoop politics | 18-09
  • Evidence of Corruption a National Scandal
    Internet Party leader Laila Harré will take evidence of corruption to international forums if there is not a full Royal Commission to investigate the growing evidence of the systematic use and abuse of democratic institutions and processes for political...
    Scoop politics | 18-09
  • Govt continues to throw money at charter school experiment
    Official documents reveal the three primary sector charter schools approved last week will cost $2 million to set up as well as divert another $1.5 million of potential taxpayer investment from local state schools next year....
    Scoop politics | 18-09
  • ACT Final Election Rally
    Elections campaigns are an opportunity for political parties to put candidates and policy to enable voters to choose what sort of New Zealand we want. In this campaign there have been three tests by which you can assess the electoral...
    Scoop politics | 18-09
  • Taxpayers on Hook Again for Solid Energy
    Responding to the Fairfax article that taxpayers are extending another $103 million to keep Solid Energy afloat, Taxpayers’ Union Executive Director Jordan Williams says:...
    Scoop politics | 18-09
  • Invermay Petition Tops 10,000 Signatures
    People across New Zealand continue to express their disgust at the downgrading of Invermay, says Dunedin North MP David Clark, as the Save Invermay petition he instigated earlier this year topped the 10,000 signature mark just days before the 2014...
    Scoop politics | 18-09
  • McVicar vows to continue fight for police
    Garth McVicar stated at a public meeting last week that he would fight to retain a 24/7 Police Station in Napier and no reduction in the number of police staff for the Hawkes Bay region, some said he was simply...
    Scoop politics | 18-09
  • Party Vote Our Weapon in Fight Against Government Corruption
    Internet MANA urges New Zealanders to use their party vote to confront corruption in any new government....
    Scoop politics | 18-09
  • Election day is tomorrow – make sure you’re a part of it!
    Tomorrow, Saturday 20 September, is election day, and New Zealanders’ last chance to have a say on who leads the country for the next three years....
    Scoop politics | 18-09
  • Is the Shape of our Government out of the hands of Voters?
    In the last stuff.co.nz / Ipsos Political Poll before Saturdays election, National is down 5.1% to 47.7% and Labour up 3.7% to 26.15%. These results are remarkably similar to the 2011 election where National received 47.3% of the vote and...
    Scoop politics | 18-09
  • Spirit of Suffrage a Call to Action for All Kiwi Women
    Internet MANA is drawing on the courage and integrity of New Zealand women on Suffrage Day – Friday, September, 19 – to encourage them to pay tribute to the spirit of their foremothers who gained women the vote....
    Scoop politics | 18-09
  • Live Election Night Coverage on TV And Online
    Māori Television’s KOWHIRI 2014 – ELECTION SPECIAL kicks off at 7.00pm this Saturday with a five-hour broadcast focusing on the Māori electorates....
    Scoop politics | 18-09
  • Judge’s Decision Disappoints Fish & Game
    Today’s decision to give a Temuka man 100 hours of community service for selling sports fish to the public has disappointed Fish & Game, which believes the sentence handed down was “too lenient and will not go far enough to...
    Scoop politics | 18-09
  • Cutting-Edge Graphics Fire up TV3’s Election Night Coverage
    TV3’s Election Night coverage, hosted by John Campbell, will be enhanced by cutting-edge graphics that will showcase the night’s results....
    Scoop politics | 18-09
  • Govt rushes to open charter schools in New Year
    The government’s decision to approve four new charter schools last week to open in January next year goes against the Minister of Education’s own advice that the schools ought to have at least a year’s preparation time....
    Scoop politics | 18-09
  • 7 Days And Jono And Ben at Ten Hijack Election Weekend
    The 7 Days and Jono and Ben at Ten (JABAT) comedians are running their own version of election coverage, with a schedule of entertainment and comedy across TV3, Kiwi FM, the web and social media this Friday and Saturday under...
    Scoop politics | 18-09
  • Fewer Prisoners Equals Less Crime
    In its latest blog, ‘Abolishing Parole and other Crazy Stuff’,’ at http://blog.rethinking.org.nz/2014/09/krill-and-womble-independent-policy.html , Rethinking Crime and Punishment urges government to rethink its approach to releasing prisoners. “The public expectation is that the excellent reductions in the crime...
    Scoop politics | 18-09
  • McVicar slams his political opponents
    I want a safe and prosperous society and that can only be achieved if we have strong and vi-brant families – McVicar...
    Scoop politics | 18-09
  • Falling economic growth – wage rises overdue
    “The lower GDP growth in the three months to June is further evidence that growth has peaked. New Zealand’s economy is on the way down to mediocre growth rates,” says CTU economist Bill Rosenberg. “Yet wage rises are still weak...
    Scoop politics | 18-09
  • Get Out and Vote campaign a success
    Tens of thousands of workers from all around New Zealand have embraced the Get Out and Vote campaign and have created their own personalised voting plan, the CTU said today. “With three days of voting left in the 2014 General...
    Scoop politics | 18-09
  • Animal Research Failing – So Do More Animal Research?
    Victoria University of Wellington is about to host a lecture on why the success rates of pharmaceutical development is so low and what can be done about it. The New Zealand Anti-Vivisection Society (NZAVS) welcomes discussion on this important...
    Scoop politics | 18-09
  • ALCP welcomes Prime Minister’s cannabis comments
    Mr Abbott's comments came on the same day as New South Wales and Victoria states announced they would be doing clinical trials of cannabis....
    Scoop politics | 18-09
  • Conservative Party Press Secretary Resignation
    The Conservative Party is given to understand that this morning Press Secretary, Miss Rachel Macgregor resigned althought no formal advice of this has yet been received....
    Scoop politics | 18-09
  • By ACT’s logic, Epsom should vote for Conservative Candidate
    “Polling released late in the campaign shows that ACT is a busted flush and that by ACT’s own logic, centre-right Epsom voters should vote for the Conservative candidate”, says Labour candidate for Epsom Michael Wood....
    Scoop politics | 17-09
  • New online medical system
    Immigration New Zealand (INZ) is seeking registrations of interest for a new onshore panel physician network to support an online immigration health processing system....
    Scoop politics | 17-09
  • Students, You Have a Choice, Vote!
    The New Zealand Union of Students’ Associations (NZUSA) is imploring students to ensure they make their voices heard this election, and join the many thousands who have already heeded the call....
    Scoop politics | 17-09
  • Party vote ACT for three years of stability.
    Voters who are concerned that on the latest polls we may be heading for three years of instability have it in their hands to deliver a decisive result....
    Scoop politics | 17-09
  • Women’s Suffrage Movement – Get Out and Vote!
    Tomorrow, Friday 19th September, MANA Movement Candidate for Waiariki, Annette Sykes, will cast her vote at 12 noon at the Zen’s Building, Rotorua. This will follow a march through Rotorua that will assemble at 10am at City Focus, Rotorua. The...
    Scoop politics | 17-09
  • iPredict Daily Update
    David Cunliffe and Labour have made gains over the last 24 hours, according to the combined wisdom of the 8000+ registered traders on New Zealand’s predictions market, iPredict, but John Key’s National is still strongly expected to lead the next...
    Scoop politics | 17-09
  • Conservative’s Proposal to Abolish Parole Fatally Flawed
    The Conservative Party’s proposal to abolish parole doesn't stack up, however which way you look at it, concludes Kim Workman in Rethinking Crime and Punishment latest blog, ‘Abolishing Parole and Other Crazy Stuff’ at http://blog.rethinking.org.nz/2014/09/krill-and-womble-independent-policy.html...
    Scoop politics | 17-09
  • Special Edition : The letter 18 September 2014
    Dr Jamie Whyte has been giving thoughtful speeches largely unreported. So we thought we would put out an edited version on the speech he gave yesterday. The full speech is on the website....
    Scoop politics | 17-09
  • Differences in educational level reflected in voter choice
    Differences in educational level reflected in voter preferences The Green party has the highest proportion of tertiary educated supporters and NZ First has the least according to an analysis by the Election Data Consortium. The Consortium is made...
    Scoop politics | 17-09
  • Renters need assistance to improve poor housing conditions
    Thursday 18 September 2014 Renters are living in poorer conditions than homeowners and are less empowered to improve their housing situation according to a study by medical students at the University of Otago, Wellington. The fourth year medical...
    Scoop politics | 17-09
  • Pacific Island Affairs & NZ Police to work more closely
    The Ministry of Pacific Island Affairs Chief Executive, Pauline Winter, and The Commissioner of Police, Mike Bush, are this afternoon signing a Memorandum of Understanding (MoU) between the Ministry and the New Zealand Police....
    Scoop politics | 17-09
  • Te Hira Paenga sets the record straight
    In recent days there has been much speculation about my campaign in Te Tai Tokerau. Some commentators have suggested that I should step down or endorse the Labour candidate in an attempt to stop the Internet Party riding on the...
    Scoop politics | 17-09
  • Last Chance to Enrol to Vote – Don’t Miss Out
    Last Chance to Enrol to Vote – Don’t Miss Out If you’re not enrolled now, you need to hurry or you won’t be able to vote in this Saturday’s general election. “Election day is almost here, and it’s your last...
    Scoop politics | 17-09
  • Stuart Nash voted against wishes of Napier Electorate
    Napier Conservative Party Candidate Garth McVicar says the recent decision by the Advertising Standards Authority in reply to a complaint laid by Stuart Nash’s campaign manager confirms that Nash voted against the wishes of the Napier electorate. Robert...
    Scoop politics | 17-09
  • What price life asks Conservative Party
    The Conservative Party are asking what is the price of life if the killer of a defenceless homeless man who was viciously beaten and left to die was jailed for just 11 and a half years....
    Scoop politics | 17-09
  • National Stands To Lose Votes If Animal Welfare Is Ignored
    SAFE has presented Prime Minister John key with a 40,000 signature-strong petition calling for a farrowing crate ban....
    Scoop politics | 17-09
  • Statement From Kim Dotcom
    Tonight Third Degree broadcast issues raised by three former staff members who are in dispute with us....
    Scoop politics | 17-09
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