‘Mum & Dad’ right to be angry with Nats

Written By: - Date published: 9:42 am, December 5th, 2013 - 40 comments
Categories: privatisation - Tags:

Mighty River, Meridian, and Air New Zealand are all now trading well below their listing prices (Mighty River is down 20%!) costing ‘mum and dad investors’ tens of millions of their savings. When journalists raise that with National, Bill English’s angry response is ‘you would be complaining if they had made windfall gains too’. He’s right. And there’s the rub. The Government has conflicting interests in a share sale.

On the one hand, the Government does have a duty to be a good steward of public wealth. That should have meant not selling the assets in the first place. Secondly, it should mean getting a good price if you’re stupid enough to sell. National failed on those measures. Mighty River and Meridian both sold for significantly less than expected.

On the other hand, the Government has a fiduciary duty in dealing with its citizens, especially when they are on opposite sides of a contract. That is, they shouldn’t be out to rip us off. So, the New Zealanders who listened when ministers said that these would be great investments, an opportunity to diversify from housing and take on a stake in a solid infrastructure company, and acted as the government intended when they saw National’s $8 million ad campaign encouraging them to buy shares have a right to feel aggrieved. After all, they only did what the Government told them to do, and they’re poorer for having done it.

Doesn’t that put the Government between a rock and a hard place? Sell too cheap and be damned as privatising public wealth when the price rises; sell to expensively and be accused of tricking people out of their savings. Yeah, it kind of does. What’s the solution? How about don’t sell the bloody things?

Last night, English told Garner that the odds of selling Genesis are only 50/50. Seems even he can learn.

*If anyone tries to claim that losses in share values ‘don’t count’ until you sell the shares, you’re a fucken moron. The NZX records the change in the dollar value of shares, why wouldn’t you? Do you think changes in the value of your house ‘don’t count’ until you sell? Because the bank thinks they count. Does a business or the government ‘not count’ changes in the value of its non-cash assets and liabilities? How can you work out the economics of keeping an investment if you don’t use its current market value when making your decision?

40 comments on “‘Mum & Dad’ right to be angry with Nats ”

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  1. Puckish Rogue 1
    5 December 2013 at 10:06 am

    *If anyone tries to claim that losses in share values ‘don’t count’ until you sell the shares, you’re a fucken moron

    – They don’t because I’m happy with the divedends I’m receiving which is why I bought them. Warren Buffett always talks about how he buys shares with the view that the stock market might close for ten years so the day to day or month to month performance doesn’t bother him so I tend to take more notice of what he says (about shares anyway)

    • Lightly 1.1
      5 December 2013 at 11:12 am

      yeah, read Warren Buffet’s annual reports – it’s all about share price movements. In fact, Buffet never pays dividends, the gain or lose you get from investing in him is entirely dependent on share price movements.

    • Rich 1.2
      5 December 2013 at 12:51 pm

      Tell you what, how about giving me $20k. I’ll pay you an 8% ‘dividend’. If you want the money back, I’ll give you everything I haven’t spent – maybe a couple of grand if you’re lucky..

      • Puckish Rogue 1.2.1
        5 December 2013 at 1:34 pm

        Show me proof of earnings for the last decade and a prospective and I’ll judge the investment on its merits

    • Draco T Bastard 1.3
      5 December 2013 at 3:18 pm

      They don’t because I’m happy with the divedends I’m receiving which is why I bought them.

      Perfect definition of a Bludger – someone who gets something for doing nothing.

      • Puckish Rogue 1.3.1
        5 December 2013 at 3:56 pm

        Minus the tax from the earnings of course so not a bludger at all

        • Draco T Bastard 1.3.1.1
          5 December 2013 at 6:27 pm

          Doesn’t matter how much tax you pay, you’re still getting something from other peoples work which you didn’t help with and so you’re a bludger.

          • Matthew Whitehead 1.3.1.1.1
            10 December 2013 at 6:25 pm

            Well, that depends- did he actually work hard* for the money he invested in the first place?

            I’m all for people getting a return on investing their wages. That’s fine. It’s the fact that some people inherit vast sums of wealth or that people are paid more than they can possibly contribute to an organisation that cheeses me off.

            So, I think people should choose: Do they want the ability to get a return on capital, or do they want inheritance and padded paychecks? Because having both is completely unreasonable.

            *ie. not inherit, or not earn in an overpaid position like corporate CEO, commodities trader, etc…

        • idlegus 1.3.1.2
          5 December 2013 at 6:42 pm

          bennies pay tax too…

      • Wayne 1.3.2
        6 December 2013 at 7:07 am

        He did do something. He spent his capital to buy the shares. Or do you think interest (and dividends) are immoral. And that capital is free.

  2. dv 2
    5 December 2013 at 10:10 am

    PR
    BUT the market price will factor in the dividend expectation.

    Contact has produced about 6% pa over the 12 years.
    That is below the average bank rate.

    • Puckish Rogue 2.1
      5 December 2013 at 10:47 am

      The banks giving 4-5% return at the moment so I’m still happy with the divedends…

      • QoT 2.1.1
        5 December 2013 at 5:43 pm

        “Yes, I stole your car, but I’m still giving you a cut of the petrol money so I’m the good guy here.”

      • Judge Holden 2.1.2
        5 December 2013 at 9:34 pm

        The banks are paying 4-5% and you’re happy with -20%. You’re a genius.

        • Akldnut 2.1.2.1
          5 December 2013 at 11:43 pm

          PR – I’ve got a bridge that you may be interested in, if not, I have a friend who’s brother in laws nephews, girlfriends best friend has a freehold farm in the Waikato and she’s looking at swapping it for a car because she hasn’t got on to make it to her Winz appointments. Interested?

  3. Lanthanide 3
    5 December 2013 at 10:12 am

    Do you think changes in the value of your house ‘don’t count’ until you sell? Because the bank thinks they count.

    That depends entirely on whether you care what the bank thinks. If there is no mortgage on the property, and you’re not trying to use the equity as leverage for any other purpose, then it doesn’t matter at all what the market value of your house is… until you come to sell it.

    Which is exactly the same for shares, if you’ve bought those shares with the intention to hold on for long-term gains. The present-day market value literally does not matter to you if you are not trying to use that notional value for any purpose.

    The takeaway from this is that losses in share value matters to *some people*, and to others it doesn’t matter at all. So insisting that the loss in share value matters to everyone who holds the shares makes you look very ignorant.

    • Puckish Rogue 3.1
      5 December 2013 at 10:49 am

      Hey be fair to the guy, hes probably just trying earn a paycheck (maybe I mean I’m just guessing as to why he does it)

    • Lightly 3.2
      5 December 2013 at 11:14 am

      this is so fucken stupid.

      If I spend $1000 on a financial asset and now I can only sell it for $800, then it is now worth $800 on my books. It’s not still worth $1000 just because I don’t want to face the truth.

      • Lanthanide 3.2.1
        5 December 2013 at 11:52 am

        I’m not saying it’s not worth $800.

        I am replying to James’ point:

        If anyone tries to claim that losses in share values ‘don’t count’ until you sell the shares, you’re a fucken moron.

        IF you don’t care about the share price, because it doesn’t matter to you, then the claim that the losses in share values “don’t count” is true.

        It is perfectly legitimate to “not care” about the price of the shares, and doing so does not make you a “fucking moron”. It just means you have different financial priorities from someone who does care about the price of shares. James is wrong.

        • Lightly 3.2.1.1
          5 December 2013 at 2:33 pm

          it does make you a fucken moron if you hand over $1000 for something and then don’t care what happens to its value. Because if you don’t monitor changes in that value, you can’t possibly assess whether continuing that investment is rational.

          • alwyn 3.2.1.1.1
            5 December 2013 at 4:37 pm

            In that case you are calling Bill Gates a “fucken moron”.
            In the dot.com crash of 2000 Gates was estimated to have lost more than $20 billion because of the drop in the value of his Microsoft shares,
            He said that he didn’t care and that as far as he was concerned nothing had changed. As he said, Micosoft hadn’t changed and he still owned the same percentage as he had yesterday so why should he care? As far as he was concerned he hadn’t lost anything.
            Still you are no doubt much smarter than the moron Bill aren’t you?

          • Lanthanide 3.2.1.1.2
            5 December 2013 at 8:51 pm

            Once again, if someone who is investing in shares is doing it on the basis of “this will pay me a dividend, I don’t care whatsoever about the share price in the short-medium term” then the share price in the short-medium term literally is meaningless to them.

            Get it through your thick head that not everyone makes investment decisions on the same basis.

            Now, if suddenly the dividend payout became much less than they had been anticipating, they would likely be concerned. And similarly the share price itself would likely reduce to match the reduced future-flow of dividends. Which could put them in a pickle if they ended up needing to sell.

          • Matthew Whitehead 3.2.1.1.3
            10 December 2013 at 6:32 pm

            Let me put it to you this way:

            Say you invest $1,000 in a company that pays you a $25 yearly dividend, but their current market value has halved, so you’ve “lost” $500, notionally.

            If that dividend looks set to stay stable or increase over the long term, and you intend to hold on to the shares for 50 years, are you an idiot?

            The answer is: No, you’ll achieve a 25% return on your investment, plus the market value of the shares if you choose to sell them afterwards. It’s perfectly legitimate to hold on to shares for their dividends, in fact, it’s usual practice.

            So, people might not currently feel bad about buying power company shares. (Especially if they think that a buy-back is on the table. For sighing.) The real question is how they’ll feel if we get the promised NZ Power setup with a new government. 😉
            (Well, that and the concept of participating in asset theft)

    • Disraeli Gladstone 3.3
      5 December 2013 at 12:04 pm

      +1000

      Thank you.

  4. rich the other 4
    5 December 2013 at 10:49 am

    So Key isn’t looking after his mates after all.
    The cry !Looking after his rich mates! is proven to be another green/labour fairy tale..
    green/labour will be delighted they have managed to undermine the value of ” mum and dads” investment which also means our 51% has also declined at the same rate.
    We all loose , thank’s green/labour, a real incite to your business management skills.
    If they ever get a chance they will bankrupt us all.

    • framu 4.1
      5 December 2013 at 11:01 am

      “The cry !Looking after his rich mates! is proven to be another green/labour fairy tale..”

      just because the share price dropped?

      you really are a simplistic, one dimensional fellow arent you

      and can you explain how green/lab reduced the value when it was nationals decision to persue the sales in the way they have inspite of the announcement of NZ power

      why do you hate the opposition for announcing their intentions ahead of the sales?

      Its not a shop – they are state owned assets being sold in a recession against popular will – the whole thing is 100% political.
      Even national know this – their entire policy and sales messaging would have been different if they thought it was just a financial deal wouldnt it

    • Mike S 4.2
      6 December 2013 at 12:31 am

      “which also means our 51% has also declined at the same rate.”

      Assuming that the government isn’t going to sell off the remaining 51% (to their rich mates), then the “decline” you mentioned means nothing at all. The 51% of the assets and infrastructure still have the same value as they did before the sale. Only those who purchased shares have seen a decline in their investment value and we all know they aren’t “mums and dads”.

      If you think share prices are indicative of the true actual worth of a company then you’re way misguided.

    • Frank Macskasy 4.3
      8 December 2013 at 1:43 pm

      So Key isn’t looking after his mates after all.
      The cry !Looking after his rich mates! is proven to be another green/labour fairy tale..

      Not at all, rich.

      The Nats cut taxes twice for the top income earners. That lost the government billions in lost revenue. So the Nats had to borrow more to make up for it, and sell down state assets.

      In turn the top income earners were able to but shares in SOEs with the extra cash they received through the ’09 and ’10 tax cuts.

      And with the loss of 49% of Meridian, Air NZ (a bit less), and Mighty River Power, this government (and future governments) face a drop in revenue.

      All because the Nats went ahead with tax cuts we could ill afford.

      Have I left anything out about the Nats looking after their mates?

  5. rich the other 5
    5 December 2013 at 11:43 am

    famu ,
    That’s a strange question,
    (why do you hate the opposition for announcing their intentions ahead of the sales?)

    National announced their intentions to SELL 49% BEFORE the last election , they WON and their coalition partners accepted that policy.
    Make no mistake , the losses being incurred by “mum and dad ” investors is a direct result of green/labours threats to interfere in the electricity market.

    • Will@Welly 5.1
      5 December 2013 at 12:00 pm

      The share value has dropped because the Government has flooded the market with one commodity – electricity. And is threatening to put more shares into the marketplace. Many speculators sold their shares in the first couple of days. Don’t blame Labour/Greens – blame a flawed ideology.

    • framu 5.2
      5 December 2013 at 12:06 pm

      and lab/green announced their intention in response before the first float happened didnt they.

      its not a strange question at all – when should any opposition party announce their policy intentions? before or after? – warn or surprise?

      if you think that it would have been better for lab/green to keep it secret your worse than a moron… oh wait… i get it… you think that the opposition had no right whatsoever to announce policy intentions regarding an asset that the state has majority ownership of dont you.

      Yeah, theres some rather unsavory words for people who have that view of democracy

      ————————————–

      national didnt win you moron – they didnt get over 50%. The coalition won – and all the coalition won was the mandate to from the govt

      exactly how many times does this have to be pointed out to people like you?

      ——————————————

      I see that you think that NZ power was the only thing that affected the share price – so pushing multiple assets of the same nature onto the market at roughly the same time didnt have any effect? – treasury thinks it did

      over valuing the asset to talk up the expected gain didnt have an effect?

      but keep going – please

    • Mike S 5.3
      5 December 2013 at 9:25 pm

      So if labour had announced their policy after the sales you’d be happy? Announcing before the sales was the responsible thing to do, it allowed people to factor the Labour policy into their decision whether to purchase or not.

    • Frank Macskasy 5.4
      8 December 2013 at 1:51 pm

      Make no mistake , the losses being incurred by “mum and dad ” investors is a direct result of green/labours threats to interfere in the electricity market.

      Rich, I believe the Labour-Green opposition gave fair warning of their intentions. What your mythical “mum and dad” investors did afterward was of their own volition. It’s called taking responsibility which, I understand, right wingers are pretty Big on.

      Anyway, if anyone interfered with the “electricity market”, I believe it was the Nats. How moronic is it to flood a small share market like New Zealand’s, and express surprise when the price of shares drops.

      The more there is of an item, the lower the price. (Eg; powerco shares.)

      The less there is of an item, the higher the price. (Eg, housing in Auckland and Christchurch.)

      FFS, man, that’s Free Markets Economics 101: supply and demand. Do we have to draw you a pretty picture with bright crayons to explain it?! (And why on Earth do we leftists have to explain this simple thing to neolibs like you in the first place?!)

  6. The Gormless Fool formerly known as Oleolebiscuitbarrell 6
    5 December 2013 at 4:42 pm

    On the one hand, the Government does have a duty to be a good steward of public wealth. That should have meant not selling the assets in the first place.

    Doesn’t being a good steward of public wealth require you to sell the assets in certain circumstances? If you knew the assets were bullshit, or you could make a better return elsewhere, or someone was willing to pay considerably more than they were worth, for instance.

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    Point of OrderBy poonzteam5443
    1 day ago

  • An impermanent public service is a guarantee of very little else but failure
    Chris Trotter writes –  The absence of anything resembling a fightback from the public servants currently losing their jobs is interesting. State-sector workers’ collective fatalism in the face of Coalition cutbacks indicates a surprisingly broad acceptance of impermanence in the workplace. Fifty years ago, lay-offs in the thousands ...
    Point of OrderBy poonzteam5443
    1 day ago

  • What happens after the war – Mariupol
    Mariupol, on the Azov Sea coast, was one of the first cities to suffer almost complete destruction after the start of the Ukraine War started in late February 2022. We remember the scenes of absolute destruction of the houses and city structures. The deaths of innocent civilians – many of ...
    Open ParachuteBy Ken
    1 day ago

  • Babies and benefits – no good news
    Lindsay Mitchell writes – Ten years ago, I wrote the following in a Listener column: Every year around one in five new-born babies will be reliant on their caregivers benefit by Christmas. This pattern has persisted from at least 1993. For Maori the number jumps to over one in three.  ...
    Point of OrderBy poonzteam5443
    1 day ago

  • Should the RBNZ be looking through climate inflation?
    Climate change is expected to generate more and more extreme events, delivering a sort of structural shock to inflation that central banks will have to react to as if they were short-term cyclical issues. Photo: Lynn Grieveson / The KākāMy pick of the six newsey things to know from Aotearoa’s ...
    The KakaBy Bernard Hickey
    1 day ago

  • Bernard's pick 'n' mix of the news links
    The top six news links I’ve seen elsewhere in the last 24 hours, as of 9:16 am on Thursday, April 18 are:Housing: Tauranga residents living in boats, vans RNZ Checkpoint Louise TernouthHousing: Waikato councillor says wastewater plant issues could hold up Sleepyhead building a massive company town Waikato Times Stephen ...
    The KakaBy Bernard Hickey
    1 day ago

  • Gordon Campbell on the public sector carnage, and misogyny as terrorism
    It’s a simple deal. We pay taxes in order to finance the social services we want and need. The carnage now occurring across the public sector though, is breaking that contract. Over 3,000 jobs have been lost so far. Many are in crucial areas like Education where the impact of ...
    Gordon CampbellBy lyndon
    1 day ago

  • Meeting the Master Baiters
    Hi,A friend had their 40th over the weekend and decided to theme it after Curb Your Enthusiasm fashion icon Susie Greene. Captured in my tiny kitchen before I left the house, I ending up evoking a mix of old lesbian and Hillary Clinton — both unintentional.Me vs Hillary ClintonIf you’re ...
    David FarrierBy David Farrier
    1 day ago

  • How extreme was the Earth's temperature in 2023
    This is a re-post from Andrew Dessler at the Climate Brink blog In 2023, the Earth reached temperature levels unprecedented in modern times. Given that, it’s reasonable to ask: What’s going on? There’s been lots of discussions by scientists about whether this is just the normal progression of global warming or if something ...
    Skeptical Science
    1 day ago

  • Backbone, revisited
    The schools are on holiday and the sun is shining in the seaside village and all day long I have been seeing bunches of bikes; Mums, Dads, teens and toddlers chattering, laughing, happy, having a bloody great time together. Cheers, AT, for the bits of lane you’ve added lately around the ...
    More Than A FeildingBy David Slack
    2 days ago

  • Ministers are not above the law
    Today in our National-led authoritarian nightmare: Shane Jones thinks Ministers should be above the law: New Zealand First MP Shane Jones is accusing the Waitangi Tribunal of over-stepping its mandate by subpoenaing a minister for its urgent hearing on the Oranga Tamariki claim. The tribunal is looking into the ...
    No Right TurnBy Idiot/Savant
    2 days ago

  • What’s the outfit you can hear going down the gurgler? Probably it’s David Parker’s Oceans Sec...
    Buzz from the Beehive Point  of Order first heard of the Oceans Secretariat in June 2021, when David Parker (remember him?) announced a multi-agency approach to protecting New Zealand’s marine ecosystems and fisheries. Parker (holding the Environment, and Oceans and Fisheries portfolios) broke the news at the annual Forest & ...
    Point of OrderBy Bob Edlin
    2 days ago

  • Will politicians let democracy die in the darkness?
    Bryce Edwards writes  – Politicians across the political spectrum are implicated in the New Zealand media’s failing health. Either through neglect or incompetent interventions, successive governments have failed to regulate, foster, and allow a healthy Fourth Estate that can adequately hold politicians and the powerful to account. ...
    Point of OrderBy poonzteam5443
    2 days ago

  • Matt Doocey doubles down on trans “healthcare”
    Citizen Science writes –  Last week saw two significant developments in the debate over the treatment of trans-identifying children and young people – the release in Britain of the final report of Dr Hilary Cass’s review into gender healthcare, and here in New Zealand, the news that the ...
    Point of OrderBy poonzteam5443
    2 days ago

  • A TikTok Prime Minister.
    One night while sleeping in my bed I had a beautiful dreamThat all the people of the world got together on the same wavelengthAnd began helping one anotherNow in this dream, universal love was the theme of the dayPeace and understanding and it happened this wayAfter such an eventful day ...
    Nick’s KōreroBy Nick Rockel
    2 days ago

  • Texas Lessons
    This is a guest post by Oscar Simms who is a housing activist, volunteer for the Coalition for More Homes, and was the Labour Party candidate for Auckland Central at the last election. ...
    Greater AucklandBy Guest Post
    2 days ago

  • Bernard's pick 'n' mix of the news links at 6:06 am
    The top six news links I’ve seen elsewhere in the last 24 hours as of 6:06 am on Wednesday, April 17 are:Must read: Secrecy shrouds which projects might be fast-tracked RNZ Farah HancockScoop: Revealed: Luxon has seven staffers working on social media content - partly paid for by taxpayer Newshub ...
    The KakaBy Bernard Hickey
    2 days ago

  • Fighting poverty on the holiday highway
    Turning what Labour called the “holiday highway” into a four-lane expressway from Auckland to Whangarei could bring at least an economic benefit of nearly two billion a year for Northland each year. And it could help bring an end to poverty in one of New Zealand’s most deprived regions. The ...
    PolitikBy Richard Harman
    2 days ago

  • Bernard's six-stack of substacks at 6:26 pm
    Tonight’s six-stack includes: launching his substack with a bunch of his previous documentaries, including this 1992 interview with Dame Whina Cooper. and here crew give climate activists plenty to do, including this call to submit against the Fast Track Approvals bill. writes brilliantly here on his substack ...
    The KakaBy Bernard Hickey
    3 days ago

  • At a glance – Is the science settled?
    On February 14, 2023 we announced our Rebuttal Update Project. This included an ask for feedback about the added "At a glance" section in the updated basic rebuttal versions. This weekly blog post series highlights this new section of one of the updated basic rebuttal versions and serves as a ...
    Skeptical Science
    3 days ago

  • Apposite Quotations.
    How Long Is Long Enough? Gaza under Israeli bombardment, July 2014. This posting is exclusive to Bowalley Road. ...
    Bowalley Road
    3 days ago

  • What’s a life worth now?
    You're in the mall when you hear it: some kind of popping sound in the distance, kids with fireworks, maybe. But then a moment of eerie stillness is followed by more of the fireworks sound and there’s also screaming and shrieking and now here come people running for their lives.Does ...
    More Than A FeildingBy David Slack
    3 days ago

  • Howling at the Moon
    Karl du Fresne writes –  There’s a crisis in the news media and the media are blaming it on everyone except themselves. Culpability is being deflected elsewhere – mainly to the hapless Minister of Communications, Melissa Lee, and the big social media platforms that are accused of hoovering ...
    Point of OrderBy poonzteam5443
    3 days ago

  • Newshub is Dead.
    I don’t normally send out two newsletters in a day but I figured I’d say something about… the news. If two newsletters is a bit much then maybe just skip one, I don’t want to overload people. Alternatively if you’d be interested in sometimes receiving multiple, smaller updates from me, ...
    Nick’s KōreroBy Nick Rockel
    3 days ago

  • Seymour is chuffed about cutting early-learning red tape – but we hear, too, that Jones has loose...
    Buzz from the Beehive David Seymour and Winston Peters today signalled that at least two ministers of the Crown might be in Wellington today. Seymour (as Associate Minister of Education) announced the removal of more red tape, this time to make it easier for new early learning services to be ...
    Point of OrderBy Bob Edlin
    3 days ago

  • Bryce Edwards: Will politicians let democracy die in the darkness?
    Politicians across the political spectrum are implicated in the New Zealand media’s failing health. Either through neglect or incompetent interventions, successive governments have failed to regulate, foster, and allow a healthy Fourth Estate that can adequately hold politicians and the powerful to account. Our political system is suffering from the ...
    Democracy ProjectBy bryce.edwards
    3 days ago

  • Was Hawkesby entirely wrong?
    David Farrar  writes –  The Broadcasting Standards Authority ruled: Comments by radio host Kate Hawkesby suggesting Māori and Pacific patients were being prioritised for surgery due to their ethnicity were misleading and discriminatory, the Broadcasting Standards Authority has found. It is a fact such patients are prioritised. ...
    Point of OrderBy poonzteam5443
    3 days ago

  • PRC shadow looms as the Solomons head for election
    PRC and its proxies in Solomons have been preparing for these elections for a long time. A lot of money, effort and intelligence have gone into ensuring an outcome that won’t compromise Beijing’s plans. Cleo Paskall writes – On April 17th the Solomon Islands, a country of ...
    Point of OrderBy poonzteam5443
    3 days ago

  • Climate Change: Criminal ecocide
    We are in the middle of a climate crisis. Last year was (again) the hottest year on record. NOAA has just announced another global coral bleaching event. Floods are threatening UK food security. So naturally, Shane Jones wants to make it easier to mine coal: Resources Minister Shane Jones ...
    No Right TurnBy Idiot/Savant
    3 days ago

  • Is saving one minute of a politician's time worth nearly $1 billion?
    Is speeding up the trip to and from Wellington airport by 12 minutes worth spending up more than $10 billion? Photo: Lynn Grieveson / The KākāTL;DR: The six news items that stood out to me in the last day to 8:26 am today are:The Lead: Transport Minister Simeon Brown announced ...
    The KakaBy Bernard Hickey
    3 days ago

  • Long Tunnel or Long Con?
    Yesterday it was revealed that Transport Minister had asked Waka Kotahi to look at the options for a long tunnel through Wellington. State Highway 1 (SH1) through Wellington City is heavily congested at peak times and while planning continues on the duplicate Mt Victoria Tunnel and Basin Reserve project, the ...
    Greater AucklandBy Matt L
    3 days ago

  • Smoke And Mirrors.
    You're a fraud, and you know itBut it's too good to throw it all awayAnyone would do the sameYou've got 'em goingAnd you're careful not to show itSometimes you even fool yourself a bitIt's like magicBut it's always been a smoke and mirrors gameAnyone would do the sameForty six billion ...
    Nick’s KōreroBy Nick Rockel
    3 days ago

  • What is Mexico doing about climate change?
    This is a re-post from Yale Climate Connections The June general election in Mexico could mark a turning point in ensuring that the country’s climate policies better reflect the desire of its citizens to address the climate crisis, with both leading presidential candidates expressing support for renewable energy. Mexico is the ...
    Skeptical Science
    3 days ago

  • State of humanity, 2024
    2024, it feels, keeps presenting us with ever more challenges, ever more dismay.Do you give up yet? It seems to ask.No? How about this? Or this?How about this?When I say 2024 I really mean the state of humanity in 2024.Saturday night, we watched Civil War because that is one terrifying cliff we've ...
    More Than A FeildingBy David Slack
    4 days ago

  • Govt’s Wellington tunnel vision aims to ease the way to the airport (but zealous promoters of cycl...
    Buzz from the Beehive A pet project and governmental tunnel vision jump out from the latest batch of ministerial announcements. The government is keen to assure us of its concern for the wellbeing of our pets. It will be introducing pet bonds in a change to the Residential Tenancies Act ...
    Point of OrderBy Bob Edlin
    4 days ago

  • The case for cultural connectedness
    A recent report generated from a Growing Up in New Zealand (GUiNZ) survey of 1,224 rangatahi Māori aged 11-12 found: Cultural connectedness was associated with fewer depression symptoms, anxiety symptoms and better quality of life. That sounds cut and dry. But further into the report the following appears: Cultural connectedness is ...
    Point of OrderBy poonzteam5443
    4 days ago

  • Useful context on public sector job cuts
    David Farrar writes –    The Herald reports: From the gory details of job-cuts news, you’d think the public service was being eviscerated.   While the media’s view of the cuts is incomplete, it’s also true that departments have been leaking the particulars faster than a Wellington ...
    Point of OrderBy poonzteam5443
    4 days ago

  • Gordon Campbell On When Racism Comes Disguised As Anti-racism
    Remember the good old days, back when New Zealand had a PM who could think and speak calmly and intelligently in whole sentences without blustering? Even while Iran’s drones and missiles were still being launched, Helen Clark was live on TVNZ expertly summing up the latest crisis in the Middle ...
    Gordon CampbellBy lyndon
    4 days ago

  • Govt ignored economic analysis of smokefree reversal
    Costello did not pass on analysis of the benefits of the smokefree reforms to Cabinet, emphasising instead the extra tax revenues of repealing them. Photo: Hagen Hopkins, Getty Images TL;DR: The six news items that stood out to me at 7:26 am today are:The Lead: Casey Costello never passed on ...
    The KakaBy Bernard Hickey
    4 days ago

  • True Blue.
    True loveYou're the one I'm dreaming ofYour heart fits me like a gloveAnd I'm gonna be true blueBaby, I love youI’ve written about the job cuts in our news media last week. The impact on individuals, and the loss to Aotearoa of voices covering our news from different angles.That by ...
    Nick’s KōreroBy Nick Rockel
    4 days ago

  • Who is running New Zealand’s foreign policy?
    While commentators, including former Prime Minister Helen Clark, are noting a subtle shift in New Zealand’s foreign policy, which now places more emphasis on the United States, many have missed a key element of the shift. What National said before the election is not what the government is doing now. ...
    PolitikBy Richard Harman
    4 days ago

  • 2024 SkS Weekly Climate Change & Global Warming News Roundup #15
    A listing of 31 news and opinion articles we found interesting and shared on social media during the past week: Sun, April 7, 2024 thru Sat, April 13, 2024. Story of the week Our story of the week is about adults in the room setting terms and conditions of ...
    Skeptical Science
    5 days ago

  • Feline Friends and Fragile Fauna The Complexities of Cats in New Zealand’s Conservation Efforts

    Cats, with their independent spirit and beguiling purrs, have captured the hearts of humans for millennia. In New Zealand, felines are no exception, boasting the highest national cat ownership rate globally [definition cat nz cat foundation]. An estimated 1.134 million pet cats grace Kiwi households, compared to 683,000 dogs ...

    Gareth’s WorldBy admin
    5 days ago

  • Or is that just they want us to think?
    Nice guy, that Peter Williams. Amiable, a calm air of no-nonsense capability, a winning smile. Everything you look for in a TV presenter and newsreader.I used to see him sometimes when I went to TVNZ to be a talking head or a panellist and we would yarn. Nice guy, that ...
    More Than A FeildingBy David Slack
    5 days ago

  • Fact Brief – Did global warming stop in 1998?
    Skeptical Science is partnering with Gigafact to produce fact briefs — bite-sized fact checks of trending claims. This fact brief was written by Sue Bin Park in collaboration with members from our Skeptical Science team. You can submit claims you think need checking via the tipline. Did global warming stop in ...
    Skeptical Science
    6 days ago

  • Arguing over a moot point.
    I have been following recent debates in the corporate and social media about whether it is a good idea for NZ to join what is known as “AUKUS Pillar Two.” AUKUS is the Australian-UK-US nuclear submarine building agreement in which … Continue reading → ...
    KiwipoliticoBy Pablo
    6 days ago

  • No Longer Trusted: Ageing Boomers, Laurie & Les, Talk Politics.
    Turning Point: “What has turned me away from the mainstream news media is the very strong message that its been sending out for the last few years.” “And what message might that be?” “That the people who own it, the people who run it, and the people who provide its content, really don’t ...
    Bowalley Road
    6 days ago

  • Mortgage rates at 10% anyone?
    No – nothing about that in PM Luxon’s nine-point plan to improve the lives of New Zealanders. But beyond our shores Jamie Dimon, the long-serving head of global bank J.P. Morgan Chase, reckons that the chances of a goldilocks soft landing for the economy are “a lot lower” than the ...
    Point of OrderBy xtrdnry
    6 days ago

  • Minister releases Fast-track stakeholder list
    The Government is today releasing a list of organisations who received letters about the Fast-track applications process, says RMA Reform Minister Chris Bishop. “Recently Ministers and agencies have received a series of OIA requests for a list of organisations to whom I wrote with information on applying to have a ...
    BeehiveBy beehive.govt.nz
    17 mins ago

  • Judicial appointments announced
    Attorney-General Judith Collins today announced the appointment of Wellington Barrister David Jonathan Boldt as a Judge of the High Court, and the Honourable Justice Matthew Palmer as a Judge of the Court of Appeal. Justice Boldt graduated with an LLB from Victoria University of Wellington in 1990, and also holds ...
    BeehiveBy beehive.govt.nz
    60 mins ago

  • Education Minister heads to major teaching summit in Singapore
    Education Minister Erica Stanford will lead the New Zealand delegation at the 2024 International Summit on the Teaching Profession (ISTP) held in Singapore. The delegation includes representatives from the Post Primary Teachers’ Association (PPTA) Te Wehengarua and the New Zealand Educational Institute (NZEI) Te Riu Roa.  The summit is co-hosted ...
    BeehiveBy beehive.govt.nz
    2 hours ago

  • Value of stopbank project proven during cyclone
    A stopbank upgrade project in Tairawhiti partly funded by the Government has increased flood resilience for around 7000ha of residential and horticultural land so far, Regional Development Minister Shane Jones says. Mr Jones today attended a dawn service in Gisborne to mark the end of the first stage of the ...
    BeehiveBy beehive.govt.nz
    2 hours ago

  • Anzac commemorations, Türkiye relationship focus of visit
    Foreign Affairs Minister Winston Peters will represent the Government at Anzac Day commemorations on the Gallipoli Peninsula next week and engage with senior representatives of the Turkish government in Istanbul.    “The Gallipoli campaign is a defining event in our history. It will be a privilege to share the occasion ...
    BeehiveBy beehive.govt.nz
    2 hours ago

  • Minister to Europe for OECD meeting, Anzac Day
    Science, Innovation and Technology and Defence Minister Judith Collins will next week attend the OECD Science and Technology Ministerial conference in Paris and Anzac Day commemorations in Belgium. “Science, innovation and technology have a major role to play in rebuilding our economy and achieving better health, environmental and social outcomes ...
    BeehiveBy beehive.govt.nz
    5 hours ago

  • Comprehensive Partnership the goal for NZ and the Philippines
    Prime Minister Christopher Luxon held a bilateral meeting today with the President of the Philippines, Ferdinand Marcos Jr.  The Prime Minister was accompanied by MP Paulo Garcia, the first Filipino to be elected to a legislature outside the Philippines. During today’s meeting, Prime Minister Luxon and President Marcos Jr discussed opportunities to ...
    BeehiveBy beehive.govt.nz
    16 hours ago

  • Government commits $20m to Westport flood protection
    The Government has announced that $20 million in funding will be made available to Westport to fund much needed flood protection around the town. This measure will significantly improve the resilience of the community, says Local Government Minister Simeon Brown. “The Westport community has already been allocated almost $3 million ...
    BeehiveBy beehive.govt.nz
    22 hours ago

  • Taupō takes pole position
    The Government is proud to support the first ever Repco Supercars Championship event in Taupō as up to 70,000 motorsport fans attend the Taupō International Motorsport Park this weekend, says Economic Development Minister Melissa Lee. “Anticipation for the ITM Taupō Super400 is huge, with tickets and accommodation selling out weeks ...
    BeehiveBy beehive.govt.nz
    23 hours ago

  • Cost of living support for low-income homeowners
    Local Government Minister Simeon Brown has announced an increase to the Rates Rebate Scheme, putting money back into the pockets of low-income homeowners.  “The coalition Government is committed to bringing down the cost of living for New Zealanders. That includes targeted support for those Kiwis who are doing things tough, such ...
    BeehiveBy beehive.govt.nz
    1 day ago

  • Government backing mussel spat project
    The Coalition Government is investing in a project to boost survival rates of New Zealand mussels and grow the industry, Oceans and Fisheries Minister Shane Jones has announced. “This project seeks to increase the resilience of our mussels and significantly boost the sector’s productivity,” Mr Jones says. “The project - ...
    BeehiveBy beehive.govt.nz
    1 day ago

  • Government focused on getting people into work
    Benefit figures released today underscore the importance of the Government’s plan to rebuild the economy and have 50,000 fewer people on Jobseeker Support, Social Development and Employment Minister Louise Upston says. “Benefit numbers are still significantly higher than when National was last in government, when there was about 70,000 fewer ...
    BeehiveBy beehive.govt.nz
    1 day ago

  • Clean energy key driver to reducing emissions
    The Government’s commitment to doubling New Zealand’s renewable energy capacity is backed by new data showing that clean energy has helped the country reach its lowest annual gross emissions since 1999, Climate Change Minister Simon Watts says. New Zealand’s latest Greenhouse Gas Inventory (1990-2022) published today, shows gross emissions fell ...
    BeehiveBy beehive.govt.nz
    1 day ago

  • Earthquake-prone buildings review brought forward
    The Government is bringing the earthquake-prone building review forward, with work to start immediately, and extending the deadline for remediations by four years, Building and Construction Minister Chris Penk says. “Our Government is focused on rebuilding the economy. A key part of our plan is to cut red tape that ...
    BeehiveBy beehive.govt.nz
    1 day ago

  • Thailand and NZ to agree to Strategic Partnership
    Prime Minister Christopher Luxon and his Thai counterpart, Prime Minister Srettha Thavisin, have today agreed that New Zealand and the Kingdom of Thailand will upgrade the bilateral relationship to a Strategic Partnership by 2026. “New Zealand and Thailand have a lot to offer each other. We have a strong mutual desire to build ...
    BeehiveBy beehive.govt.nz
    2 days ago

  • Government consults on extending coastal permits for ports
    RMA Reform Minister Chris Bishop and Transport Minister Simeon Brown have today announced the Coalition Government’s intention to extend port coastal permits for a further 20 years, providing port operators with certainty to continue their operations. “The introduction of the Resource Management Act in 1991 required ports to obtain coastal ...
    BeehiveBy beehive.govt.nz
    2 days ago

  • Inflation coming down, but more work to do
    Today’s announcement that inflation is down to 4 per cent is encouraging news for Kiwis, but there is more work to be done - underlining the importance of the Government’s plan to get the economy back on track, acting Finance Minister Chris Bishop says. “Inflation is now at 4 per ...
    BeehiveBy beehive.govt.nz
    2 days ago

  • School attendance restored as a priority in health advice
    Refreshed health guidance released today will help parents and schools make informed decisions about whether their child needs to be in school, addressing one of the key issues affecting school attendance, says Associate Education Minister David Seymour. In recent years, consistently across all school terms, short-term illness or medical reasons ...
    BeehiveBy beehive.govt.nz
    2 days ago

  • Unnecessary bureaucracy cut in oceans sector
    Oceans and Fisheries Minister Shane Jones is streamlining high-level oceans management while maintaining a focus on supporting the sector’s role in the export-led recovery of the economy. “I am working to realise the untapped potential of our fishing and aquaculture sector. To achieve that we need to be smarter with ...
    BeehiveBy beehive.govt.nz
    2 days ago

  • Patterson promoting NZ’s wool sector at International Congress
    Associate Agriculture Minister Mark Patterson is speaking at the International Wool Textile Organisation Congress in Adelaide, promoting New Zealand wool, and outlining the coalition Government’s support for the revitalisation the sector.    "New Zealand’s wool exports reached $400 million in the year to 30 June 2023, and the coalition Government ...
    BeehiveBy beehive.govt.nz
    3 days ago

  • Removing red tape to help early learners thrive
    The Government is making legislative changes to make it easier for new early learning services to be established, and for existing services to operate, Associate Education Minister David Seymour says. The changes involve repealing the network approval provisions that apply when someone wants to establish a new early learning service, ...
    BeehiveBy beehive.govt.nz
    3 days ago

  • RMA changes to cut coal mining consent red tape
    Changes to the Resource Management Act will align consenting for coal mining to other forms of mining to reduce barriers that are holding back economic development, Resources Minister Shane Jones says. “The inconsistent treatment of coal mining compared with other extractive activities is burdensome red tape that fails to acknowledge ...
    BeehiveBy beehive.govt.nz
    3 days ago

  • McClay reaffirms strong NZ-China trade relationship
    Trade, Agriculture and Forestry Minister Todd McClay has concluded productive discussions with ministerial counterparts in Beijing today, in support of the New Zealand-China trade and economic relationship. “My meeting with Commerce Minister Wang Wentao reaffirmed the complementary nature of the bilateral trade relationship, with our Free Trade Agreement at its ...
    BeehiveBy beehive.govt.nz
    3 days ago

  • Prime Minister Luxon acknowledges legacy of Singapore Prime Minister Lee
    Prime Minister Christopher Luxon today paid tribute to Singapore’s outgoing Prime Minister Lee Hsien Loong.   Meeting in Singapore today immediately before Prime Minister Lee announced he was stepping down, Prime Minister Luxon warmly acknowledged his counterpart’s almost twenty years as leader, and the enduring legacy he has left for Singapore and South East ...
    BeehiveBy beehive.govt.nz
    4 days ago

  • PMs Luxon and Lee deepen Singapore-NZ ties
    Prime Minister Christopher Luxon held a bilateral meeting today with Singapore Prime Minister Lee Hsien Loong. While in Singapore as part of his visit to South East Asia this week, Prime Minister Luxon also met with Singapore President Tharman Shanmugaratnam and will meet with Deputy Prime Minister Lawrence Wong.  During today’s meeting, Prime Minister Luxon ...
    BeehiveBy beehive.govt.nz
    4 days ago

  • Antarctica New Zealand Board appointments
    Foreign Minister Winston Peters has made further appointments to the Board of Antarctica New Zealand as part of a continued effort to ensure the Scott Base Redevelopment project is delivered in a cost-effective and efficient manner.  The Minister has appointed Neville Harris as a new member of the Board. Mr ...
    BeehiveBy beehive.govt.nz
    4 days ago

  • Finance Minister travels to Washington DC
    Finance Minister Nicola Willis will travel to the United States on Tuesday to attend a meeting of the Five Finance Ministers group, with counterparts from Australia, the United States, Canada, and the United Kingdom.  “I am looking forward to meeting with our Five Finance partners on how we can work ...
    BeehiveBy beehive.govt.nz
    4 days ago

  • Pet bonds a win/win for renters and landlords
    The coalition Government has today announced purrfect and pawsitive changes to the Residential Tenancies Act to give tenants with pets greater choice when looking for a rental property, says Housing Minister Chris Bishop. “Pets are important members of many Kiwi families. It’s estimated that around 64 per cent of New ...
    BeehiveBy beehive.govt.nz
    4 days ago

  • Long Tunnel for SH1 Wellington being considered
    State Highway 1 (SH1) through Wellington City is heavily congested at peak times and while planning continues on the duplicate Mt Victoria Tunnel and Basin Reserve project, the Government has also asked NZ Transport Agency (NZTA) to consider and provide advice on a Long Tunnel option, Transport Minister Simeon Brown ...
    BeehiveBy beehive.govt.nz
    4 days ago

  • New Zealand condemns Iranian strikes
    Prime Minister Christopher Luxon and Foreign Minister Winston Peters have condemned Iran’s shocking and illegal strikes against Israel.    “These attacks are a major challenge to peace and stability in a region already under enormous pressure," Mr Luxon says.    "We are deeply concerned that miscalculation on any side could ...
    BeehiveBy beehive.govt.nz
    5 days ago

  • Huge interest in Government’s infrastructure plans
    Hundreds of people in little over a week have turned out in Northland to hear Regional Development Minister Shane Jones speak about plans for boosting the regional economy through infrastructure. About 200 people from the infrastructure and associated sectors attended an event headlined by Mr Jones in Whangarei today. Last ...
    BeehiveBy beehive.govt.nz
    7 days ago

  • Health Minister thanks outgoing Health New Zealand Chair
    Health Minister Dr Shane Reti has today thanked outgoing Health New Zealand – Te Whatu Ora Chair Dame Karen Poutasi for her service on the Board.   “Dame Karen tendered her resignation as Chair and as a member of the Board today,” says Dr Reti.  “I have asked her to ...
    BeehiveBy beehive.govt.nz
    7 days ago

  • Roads of National Significance planning underway
    The NZ Transport Agency (NZTA) has signalled their proposed delivery approach for the Government’s 15 Roads of National Significance (RoNS), with the release of the State Highway Investment Proposal (SHIP) today, Transport Minister Simeon Brown says.  “Boosting economic growth and productivity is a key part of the Government’s plan to ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Navigating an unstable global environment
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