National costs you $100,000 from your retirement fund

Written By: - Date published: 9:49 am, July 2nd, 2016 - 66 comments
Categories: accountability, class war, national, superannuation - Tags: , , ,

If you’re an average worker the actions of the National government have reduced the value of your KiwiSaver fund at retirement by about $100K:

National’s cuts shave $100K off KiwiSaver by retirement

Press Release: New Zealand Labour Party

New analysis shows National’s constant cuts to KiwiSaver will reduce the average worker’s retirement savings by $100,000 over their working life, Leader of the Opposition Andrew Little says.

“The former Labour Government launched KiwiSaver nine years ago today to boost the country’s savings and ensure all New Zealanders have a nest egg in their retirement.

“National has gutted KiwiSaver. Since coming to office it has made five separate cuts to the scheme:

• Taxed employer contributions

• Halved the maximum Member Tax Credit from $1042 to $521

• Halved the Member Tax Credit rate from $1 for every dollar saved to 50c

• Reduced employee/employer contributions from 4 per cent to 3 per cent

• Abolished the kick-start payment

“Analysis by the Parliamentary Library (attached) shows a worker on the average wage joining the scheme today will have total contributions of $3500 after their first year. That would have been $6700 without these cuts.

“After their first year, the average worker misses out on $2,200 a year in contributions. That adds up to $100,000 the average worker will miss out on if they retire after 45 years’ work. That’s a big slice of their nest egg.

“Axing the start-up payment alone resulted in new KiwiSaver sign-ups plummeting.

“Figures released this week show growing inequality under this Government. National’s KiwSaver cuts are making inequality worse by making it harder for middle New Zealand to save.

“For many people, KiwiSaver is their largest financial asset outside their home – if they’re lucky enough to own one. Having less savings in their scheme means people will be forced to work for longer and will have less to retire on,” Andrew Little says.

ENDS

KiwiSaver_Cuts.xlsx

66 comments on “National costs you $100,000 from your retirement fund ”

  1. jcuknz 1

    In addition there are holes in the scheme which enable you to use part to fund your home to reduce it further. Quite apart from savings are held in expensive private schemes, with not guarantees, which further reduce matters. Even 4% was ridiculously low and to be meaningful should have been almost twice that as I ended up paying with NatProv.
    I am glad it was not possible for me to dip into my fund. But of course I worked in happier days did I but know it.

  2. dv 2

    And don’t forget the OBR where a collapsing bank can take 10% of you saving to prop them up. (I know not Kiwisaver)

  3. Greg 3


    There is a little-known clause in the Employment Relations Act that allows for an employee’s salary to represent ‘total remuneration’ for the role they perform.

    “Should that employee decide to join KiwiSaver, the cost of the employer’s contribution will come directly from the employee’s pay.

    “If an employer wishes to adopt the ‘total remuneration’ approach, there is still the requirement to negotiate in good faith with the employee.
    =How many employee’s have that option.

    The Individual Employment Agreement must include a clause detailing the ‘total remuneration’ which accounts for the amount of the employer’s contribution (if any)’

    =Who has this in there employment agreement?

    =Still think its a wonderful deal.
    =loss of compounding wage rises, + long term effect?

    http://www.nzherald.co.nz/personal-finance/news/article.cfm?c_id=12&objectid=11341802

    http://www.dummies.com/how-to/content/how-investments-lose-value-over-time.html

    • Infused 3.1

      Thats hardly little know

    • The New Student 3.2

      Yes, people are more aware of total rem arrangements nowadays but doesn’t hurt to keep making noise about it. I’ve been on total rems before. It’s a bit tough seeing the whole lot come out of your pay! But yeah it does require the employee to be both aware and confident enough to negotiate the contribution component, which many certainly are not. which this government seems to encourage

  4. Draco T Bastard 4

    Kiwisaver is just another capitalist Ponzi scheme. It adds to the inequality and environmental destruction that is inherent in capitalism and, of course, it will eventually collapse the same way that capitalism is presently collapsing.

  5. save nz 5

    Unbelievable!! National are so greedy and sneaky!! Plenty of money for their corporate cronies through I see.

    And that is why I never went into Kiwisaver and why Kiwis don’t save for their retirement.

    What’s the point if in the course of your lifetime some greedy politician comes and steals money you should have received or makes changes every year.

    Who can trust them. Even if you trust one party, the next one comes along to steal it.

    They should have a guarantee on it. No changes.

    Apparently we can lock in TPPA against workers but can’t lock in benefits for workers.

    Disgusting.

    Great work by Labour and Andrew Little to let us know about this dodgy rip off by the National party.

    And people are still waiting for that holiday pay too…

    • mosa 5.1

      I joined kiwisaver just before the National party won in 2008 knowing they would despite John Keys soothing words lay their thieving hands on the scheme and make it as they always do to the disadvantage of the hard working kiwis who had in good faith and enticed by the $1000 kickstart and employer contribution to match their own.
      Before they harmed it and made it unequitable it was a well put together scheme to encourage kiwis who do not save a cent to put aside a supplement to a minimum pension when they finish working.
      If they had the long term of the country as their priority not just 9-12 years and enhanced the scheme incl the emloyer contribution rate , tax credits ,and join up incentive in other words improved it as an investment instead of a cash cow to tinker with it would have demonstrated some commitment to long term savings which we dont have a good track record of and increased confidence that it would remain in its current form and not interfered with and not disadvantage the working kiwis that already get nailed on everything else by being in the fund.
      That would have demonstrated mature leadership but we dont do maturity well in New Zeeluund.
      $100,000 less to live on is deliberate fraud against working kiwis and Little should keep saying it LOUDLY at every given opportunity !

  6. Eralc 6

    So what will Labour do, put it all back to how it was? Semantics, I know, but the second and third bullet points seem to be one in the same – I stand to be corrected if that’s not right.

    • mosa 6.1

      The point is they should NOT have too put it back if as Key promised they would not alter it !!!
      It should not have been taken in the first place !!!
      Why do idiots keep voting for this party knowing its track record when it comes to governing this country its never good for hard working kiwis.
      Compasionate conservatisim _ brighter future my arse !! another John Key Myth

  7. fisiani 7

    Labour just whinge and whinge and complain about National not spending enough. Money does not grow on trees or from a magic hole in the wall machine. Note that Labour are not planning to give you $100,000 just moan about it. How can you lose something that you never had?

    • Stuart Munro 7.1

      Money certainly doesn’t grow on trees when one’s fiscally irresponsible tax cut has endebted the country to the tune of $120 billion, and is headed for $150 billion if no public spirited citizen deposes this utterly useless corrupt government.

      • Dv 7.1.1

        And don’t forget the 1.6 billion bailout to SCF.

      • ropata 7.1.2

        there’s plenty of cash for convention centres, motorways, and tax breaks for corporations. lots of fancy new skyscrapers and sports stadiums are in the works. it’s really sweet that there’s no capital gains tax and house prices are just shooting up forever.

        oh sorry no cash for social housing or hungry school kids.

        • Stuart Munro 7.1.2.1

          You’re right of course – I’m much too generous to these thieving scoundrels.

    • maninthemiddle 7.2

      Exactly! And yet other posters here have accepted lying Little’s so called ‘analysis’ hook line and sinker.

    • Colonial Viper 7.3

      How can you lose something that you never had?

      We did have it. Labour had set up a good deal. Then National pulled out of it.

      • maninthemiddle 7.3.1

        When? In 1975? If so, I never had, so I never lost it. Besides, i’d rather manage my own retirement savings thanks.

    • Colonial Viper 7.4

      Money is created faster than a tree creates leaves. That’s because in the modern day, money is created out of thin air by keyboard strokes.

      In the last thirty years the NZ Government has allowed the new dollars in circulation to quintiple in just the last couple of decades. Over $100B in brand new dollars.

      Materialised out of thin air.

    • Pat 7.5

      there appears to be no lack of money trees for tax cuts however…

    • Sabine 7.6

      26 mil flag debacle

      • gsays 7.6.1

        and petty cash is full with the $ that used to go to lifeline.

      • jcuknz 7.6.2

        Since most of the 26 million went to the Post Office it was a donation to keep the loss of that organisation down … tricky that!

    • ropata 7.7

      And yet the house prices in Auckland have doubled in the last 6 years. Money DOES fucking grow out of thin air. It’s wealth that hasn’t been growing as the top 5% like Key have stolen ever more off the lower IQ morons like you

    • Fisiani, looks like you have lost a brain, or maybe you never had one in the first place,

  8. dave 8

    all i can think about is the half a trillion dollars debt when houseing bubble pops
    the debtors should pay not savers

  9. Incognito 9

    Something badly wrong here? The difference between $6700 and $3500 is $3200 and not $2,200 as stated in this Post and the original Media Statement!?

  10. Wayne 10

    Lets assume the calculations are correct. It is obviously true that if the taxpayer subsidy for each Kiwisaver account is reduced, the final amount saved in each account will be less.

    I recall the reason why the changes were made, which was primarily because the uptake rate was much higher then anticipated by Treasury in part due to the size of the taxpayer subsidy. It also meant the cost to the govt finances was much higher then Treasury estimated, and at a time when we were in the middle of the GFC. This meant money being extracted from the economy and put into long term savings at the very time when current consumption was the need, or in other words the requirement was economic stimulus.

    So Labour has now done the calculations of the impact of the changes for an account that lasts 49 years, fair enough. But it does raise the obvious question, will Labour restore all the subsidies for KiwiSaver, at a cost to govt expenditure of probably around $500 million, maybe more?

    • ropata 10.1

      Is that what you tell yourself when cheering on the theft of billions from hard working kiwis?

      FFS you RWNJs are short sighted idiots and have fucked over NZ time and time again

      http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10465138

      • Wayne 10.1.1

        Well actually it was not hardworking kiwis money that was taken, it was a reduction of the taxpayer subsidy that the govt (other taxpayers) gave to each KiwiSaver. Obviously people keep what they had already got, it was future taxpayer subsidies that were reduced.
        As I say the real question is whether Labour will reinstate the level of taxpayer subsidy that prevailed in 2008.

        • ropata 10.1.1.1

          1. government finance is not a zero sum game. it is their own policy of tax cuts to the wealthy that have screwed the balance sheet & provided a pathetic excuse for artificial cuts to social spending
          2. the real question is not what you say it is. labour is not in government
          3. national must answer for their regressive policies that have worsened inequality in New Zealand and thrown thousands into poverty. that is the “real question” IM(NS)HO

        • RedBaronCV 10.1.1.2

          Much as us kiwi’s (other taxpayers) decided that the best way to deal with the GFC was to give major tax cuts to high end earners, fund Saudi sheep farms, bail out SC Finance, Tiwai point, flag referendums , build useless roads etc etc. All very low quality government spending compared to Kiwisaver.

          But hey you keep mentioning how well you are doing so you and other wealthy high end earners will be happy to pay a couple of thumping levies to get that external debt under control and pop a lump sum in those kiwisaver accounts!

    • ropata 10.2

      It’s funny how all the Nat Party policies have a short term benefit to the wealthiest 1% and a long term cost to the long suffering NZ taxpayer.

    • save nz 10.3

      What is the cost of Kiwi’s not saving, for treasury?

      Yep, always Labour’s fault, they get more people than expected saving for their retirement, but under National – that’s bad!

      National seem so keen on subsidising businesses in corporate welfare but that’s good!

      Bit of a double standard there.

      Anyway I knew National would get in and F*&k it up, so I never joined.

      BTW our mostly Aussie banks don’t have to guarantee bank deposits like practically every other OECD country… wonder why Kiwis don’t save – look at the reasons!

    • DH 10.4

      “This meant money being extracted from the economy and put into long term savings at the very time when current consumption was the need, or in other words the requirement was economic stimulus.”

      That argument might have some merit if the Govt hadn’t also walloped up ACC levies around the same time Wayne. You’re just making shite up there IMO.

  11. Stuart Munro 11

    So in essence what you’re saying Wayne is that the Gnat’s economic management is so inept they cannot meet their obligations. Rockstars indeed!

  12. b waghorn 12

    They should of kept the kick start , dumped tax credits , and not taxed the earnings , also cracking down on the amount of fees would be good.

  13. slumbergod 13

    hahaha “retirement”??? What’s that? There isn’t going to be any retirement for the people at the bottom of society, just like there isn’t going to be health care, dental care, or welfare.

  14. stunned mullet 14

    Give me some free money !

    • Paul 14.1

      Someone who defends a government that does not house its citizens.
      Shame on you.

      • stunned mullet 14.1.1

        Big ups Paul – I love your morning moan.

        perhaps you could spice it up like this piece I was sent from the UK…

        “…..While we’re on the subject of scum. Blair has once again stuck his head above the parapet. As we know, we need to negotiate our new relationship with the Fourth Reich over in Brussels. As we also know, this will be pretty complex. So, up pops Tony Blair, like the eternal foul stench, once again pretending to be our saviour and offering his services as a negotiator.
        Apart from the fact Blair is a filthy, murdering, money whore, lying, arrogant, ignorant, dishonourable, dishonest, conniving, warmongering, bloodthirsty traitor. He never does ANYTHING unless there is something in it for Tony Blair. His chances of a cushy job in Brussels have been shot to shit, so I can only imagine that Blair considers this an opportunity to once again raise his profile and be seen as some kind of hero. He seems to need the adoration of the public. The big problem he faces, is that everyone on Planet Earth knows that he’s a massive cunt.

        Still, he can’t resist the opportunity of taking part in a high profile negotiation. Whoever turns out to be our next Prime Minister, their first job should be telling Blair to fuck off, and shove a live hand grenade up his arrogant arse. Let’s not forget, it was Blair who gave up part of our rebate on the money that the EU steals from us each year.

        Though not for much longer…”

        • save nz 14.1.1.1

          +1 Stunned Mullet, while I wouldn’t describe Tony Blair in quite the same terms, I think you are totally on the right track about him in general.

          The big joke was when he volunteered to help the Palestine/Israel peace talks after invading Iraq. What a joke, no wonder the peace talks stalled with him on board – political sabotage!

          • stunned mullet 14.1.1.1.1

            Not my work save nz a friend from up north in the UK sent it across.

            He’s also sent see great stuff on Jeremy Corbyn if you want me to post the random thoughts of a yorkshireman.

    • Pat 14.2

      “Give me some free money !”

      Isn’t that what we do for all those negatively geared rentiers (to name just one group)?

    • dv 14.3

      Ha SM is a bank – heard of the OBR?

  15. DH 15

    I’m not sure you want to link to their workings, their error is rather glaring.

    God these Labour people are amateurs, they can’t even get their numbers right on simple stuff like this.

    • Pat 15.1

      what error would that be?

      • DH 15.1.1

        Employees don’t lose their own contribution Pat. Cutting the employers maximum from 4% to 3% doesn’t cut the employees contribution to 3%.

        • Pat 15.1.1.1

          and you suggest the calculation assumes an employee contribution reduction to 3%?

          • DH 15.1.1.1.1

            That it does Pat, you could try looking at it yourself.

            • Pat 15.1.1.1.1.1

              that it does…not doing themselves any favours presenting it thus even though its reasonable to assume a matching of employee contribution to employers contribution for maximum benefit.

              • DH

                Mistakes like that sabotages their own argument. The one lesson they should have learnt by now is to double-check their figures before quoting them.

                The Labour caucus really do appear to have a problem with their maths, they just don’t seem to have (m)any MPs who are good with numbers.

                • Pat

                  suspect it wasn’t a math problem….rather a political nous problem…..they were trying to present the worst possible case, foolish given it was bound to be noted and discredits them, whereas they could have presented a slightly less bad case and added a rider saying”and it could potentially be worse”.

                  As you note…they should have learned by now.

                  • DH

                    I have to admit I have no idea what they were thinking at all. Their argument is dumb, it leaves them wide open to ridicule and rebuttals.

                    They neglected to add in the compounding interest which would genuinely take the losses over $100k.

                    The lost tax credit of $521.43 alone would compound to over $48k at a conservative annual return of 3% (after tax).

                    • The argument and supporting example is overly simplistic and rather unrealistic, but not dumb. It talks about contributions. Not returns. Not account balance. I’d say compounding interest has no bearing on the contributions required by legislation.

                      Thus, the ~$100K difference in contributions (on a constant salary of $57.7K for 45 years straight) when comparing Labour’s scheme with that of National checks out.

                      While I thought it was a bit silly overkill having two points that refer to the exact same thing, one must remember that many members don’t contribute enough to max out the MTC in a year. So now they only get 50c in the dollars they do contribute (up to $521) as opposed to dollar for dollar (up to $1042).

                      The compulsory employer contribution rate (CEC) well I believe Labour planned for a rate of 4% from 2011 onwards. What we got was 2% then upped to 3% from 2013 onwards. http://www.treasury.govt.nz/budget/2007/kiwisaver/pdfs/ks-employer.pdf
                      So I guess saying “Reduced employee/employer contributions from 4 per cent to 3 per cent” has some persuasive merit.

                      Reducing the employee contribution to minimum of 3% well that’s hardly persuasive as one can elect to contribute 4% if they so wish. But again, I think Labour intended the minimum to be 4% from 2011 onwards, so that’s why it was used for calculating the Labour example in the spreadsheet.

                      ESCT erodes the employer contribution, pretty plain as day. It was probably necessary for reasons.

                      I believe National removed the $40 fee subsidy and also removed the $1040 (ish) employer subsidy/tax credit.

                      So contributions-wise, KiwiSavers ARE worse off under the tweaks and changes introduced by National government, as we all know. Mainly due to reduction in MTC, removal of kickstart and application of ESCT. The simple example given is a pretty sound comparison between what is, and what was/might have been. Yes the power of compound interest is the whole point of a long-term investment like KS, but it has little to do with the contributions required by legislation.

                    • DH

                      “Thus, the ~$100K difference in contributions (on a constant salary of $57.7K for 45 years straight) when comparing Labour’s scheme with that of National checks out. ”

                      You’ve lost me there. Are you saying you can’t add & subtract or you haven’t looked at their figures?

    • save nz 15.2

      @DH bit like English not being able to work out the cost of parental leave bill. Never mind, nothing in it for English, why would he bother?

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    Happy fourth anniversary, Pandemic That Upended Bloody Everything. I have been observing it by enjoying my second bout of COVID. It’s 5.30 on Sunday morning and only now are lights turning back on for me.Allow me to copy and paste what I told reader Sara yesterday:Depleted, fogged and crappy. Resting, ...
    More Than A FeildingBy David Slack
    2 days ago
  • Bring out your Dad
    Happy fourth anniversary, Pandemic That Upended Bloody Everything. I have been observing it by enjoying my second bout of COVID. It’s 5.30 on Sunday morning and only now are lights turning back on for me.Allow me to copy and paste what I told reader Sara yesterday:Depleted, fogged and crappy. Resting, ...
    More Than A FeildingBy David Slack
    2 days ago
  • Bring out your Dad
    Happy fourth anniversary, Pandemic That Upended Bloody Everything. I have been observing it by enjoying my second bout of COVID. It’s 5.30 on Sunday morning and only now are lights turning back on for me.Allow me to copy and paste what I told reader Sara yesterday:Depleted, fogged and crappy. Resting, ...
    More Than A FeildingBy David Slack
    2 days ago
  • The bewildering world of Chris Luxon – Guns for all, not no lunch for kids
    .“$10 and a target that bleeds” - Bleeding Targets for Under $10!.Thanks for reading Frankly Speaking ! Subscribe for free to receive new posts and support my work.This government appears hell-bent on either scrapping life-saving legislation or reintroducing things that - frustrated critics insist - will be dangerous and likely ...
    Frankly SpeakingBy Frank Macskasy
    3 days ago
  • Expert Opinion: Ageing Boomers, Laurie & Les, Talk Politics.
    It hardly strikes me as fair to criticise a government for doing exactly what it said it was going to do. For actually keeping its promises.”THUNDER WAS PLAYING TAG with lightning flashes amongst the distant peaks. Its rolling cadences interrupted by the here-I-come-here-I-go Doppler effect of the occasional passing car. ...
    3 days ago
  • Manufacturing The Truth.
    Subversive & Disruptive Technologies: Just as happened with that other great regulator of the masses, the Medieval Church, the advent of a new and hard-to-control technology – the Internet –  is weakening the ties that bind. Then, and now, those who enjoy a monopoly on the dissemination of lies, cannot and will ...
    3 days ago
  • A Powerful Sensation of Déjà Vu.
    Been Here Before: To find the precedents for what this Coalition Government is proposing, it is necessary to return to the “glory days” of Muldoonism.THE COALITION GOVERNMENT has celebrated its first 100 days in office by checking-off the last of its listed commitments. It remains, however, an angry government. It ...
    3 days ago
  • Can you guess where world attention is focussed (according to Greenpeace)? It’s focussed on an EPA...
    Bob Edlin writes –  And what is the world watching today…? The email newsletter from Associated Press which landed in our mailbox early this morning advised: In the news today: The father of a school shooter has been found guilty of involuntary manslaughter; prosecutors in Trump’s hush-money case ...
    Point of OrderBy Bob Edlin
    3 days ago
  • Further integrity problems for the Greens in suspending MP Darleen Tana
    Bryce Edwards writes – Is another Green MP on their way out? And are the Greens severely tarnished by another integrity scandal? For the second time in three months, the Green Party has secretly suspended an MP over integrity issues. Mystery is surrounding the party’s decision to ...
    Point of OrderBy poonzteam5443
    3 days ago
  • Jacqui Van Der Kaay: Greens’ transparency missing in action
    For the last few years, the Green Party has been the party that has managed to avoid the plague of multiple scandals that have beleaguered other political parties. It appears that their luck has run out with a second scandal which, unfortunately for them, coincided with Golraz Ghahraman, the focus ...
    Democracy ProjectBy bryce.edwards
    3 days ago
  • Bernard’s Dawn Chorus with six newsey things at 6:46am for Saturday, March 16
    TL;DR: The six newsey things that stood out to me as of 6:46am on Saturday, March 16.Andy Foster has accidentally allowed a Labour/Green amendment to cut road user chargers for plug-in hybrid vehicles, which the Government might accept; NZ Herald Thomas Coughlan Simeon Brown has rejected a plea from Westport ...
    The KakaBy Bernard Hickey
    3 days ago
  • How Did FTX Crash?
    What seemed a booming success a couple of years ago has collapsed into fraud convictions.I looked at the crash of FTX (short for ‘Futures Exchange’) in November 2022 to see whether it would impact on the financial system as a whole. Fortunately there was barely a ripple, probably because it ...
    PunditBy Brian Easton
    4 days ago
  • Elections in Russia and Ukraine
    Anybody following the situation in Ukraine and Russia would probably have been amused by a recent Tweet on X NATO seems to be putting in an awful lot of effort to influence what is, at least according to them, a sham election in an autocracy.When do the Ukrainians go to ...
    4 days ago
  • Bernard’s six stack of substacks at 6pm on March 15
    TL;DR: Shaun Baker on Wynyard Quarter's transformation. Magdalene Taylor on the problem with smart phones. How private equity are now all over reinsurance. Dylan Cleaver on rugby and CTE. Emily Atkin on ‘Big Meat’ looking like ‘Big Oil’.Bernard’s six-stack of substacks at 6pm on March 15Photo by Jeppe Hove Jensen ...
    The KakaBy Bernard Hickey
    4 days ago
  • Buzz from the Beehive Finance Minister Nicola Willis had plenty to say when addressing the Auckland Business Chamber on the economic growth that (she tells us) is flagging more than we thought. But the government intends to put new life into it:  We want our country to be a ...
    Point of OrderBy Bob Edlin
    4 days ago
  • National’s clean car tax advances
    The Transport and Infrastructure Committee has reported back on the Road User Charges (Light Electric RUC Vehicles) Amendment Bill, basicly rubberstamping it. While there was widespread support among submitters for the principle that EV and PHEV drivers should pay their fair share for the roads, they also overwhelmingly disagreed with ...
    No Right TurnBy Idiot/Savant
    4 days ago
  • Government funding bailouts
    Peter Dunne writes – This week’s government bailout – the fifth in the last eighteen months – of the financially troubled Ruapehu Alpine Lifts company would have pleased many in the central North Island ski industry. The government’s stated rationale for the $7 million funding was that it ...
    Point of OrderBy poonzteam5443
    4 days ago
  • Two offenders, different treatments.
    See if you can spot the difference. An Iranian born female MP from a progressive party is accused of serial shoplifting. Her name is leaked to the media, which goes into a pack frenzy even before the Police launch an … Continue reading ...
    KiwipoliticoBy Pablo
    4 days ago
  • Treaty references omitted
    Ele Ludemann writes  – The government is omitting general Treaty references from legislation : The growth of Treaty of Waitangi clauses in legislation caused so much worry that a special oversight group was set up by the last Government in a bid to get greater coherence in the public service on Treaty ...
    Point of OrderBy poonzteam5443
    4 days ago
  • The Ghahraman Conflict
    What was that judge thinking? Peter Williams writes –  That Golriz Ghahraman and District Court Judge Maria Pecotic were once lawyer colleagues is incontrovertible. There is published evidence that they took at least one case to the Court of Appeal together. There was a report on ...
    Point of OrderBy poonzteam5443
    4 days ago
  • Bernard's Top 10 @ 10 'pick 'n' mix' for March 15
    TL;DR: My top 10 news and analysis links this morning include:Today’s must-read: Climate Scorpion – the sting is in the tail. Introducing planetary solvency. A paper via the University of Exeter’s Institute and Faculty of Actuaries.Local scoop: Kāinga Ora starts pulling out of its Auckland projects and selling land RNZ ...
    The KakaBy Bernard Hickey
    4 days ago
  • The day Wellington up-zoned its future
    Wellington’s massively upzoned District Plan adds the opportunity for tens of thousands of new homes not just in the central city (such as these Webb St new builds) but also close to the CBD and public transport links. Photo: Lynn Grieveson / The KākāTL;DR: Wellington gave itself the chance of ...
    The KakaBy Bernard Hickey
    4 days ago
  • Weekly Roundup 15-March-2024
    It’s Friday and we’re halfway through March Madness. Here’s some of the things that caught our attention this week. This Week in Greater Auckland On Monday Matt asked how we can get better event trains and an option for grade separating Morningside Dr. On Tuesday Matt looked into ...
    Greater AucklandBy Greater Auckland
    4 days ago
  • That Word.
    Something you might not know about me is that I’m quite a stubborn person. No, really. I don’t much care for criticism I think’s unfair or that I disagree with. Few of us do I suppose.Back when I was a drinker I’d sometimes respond defensively, even angrily. There are things ...
    Nick’s KōreroBy Nick Rockel
    4 days ago
  • The Hoon around the week to March 15
    Photo: Lynn Grieveson / The KākāTL;DR: The five things that mattered in Aotearoa’s political economy that we wrote and spoke about via The Kākā and elsewhere for paying subscribers in the last week included:PM Christopher Luxon said the reversal of interest deductibility for landlords was done to help renters, who ...
    The KakaBy Bernard Hickey
    5 days ago
  • Labour’s policy gap
    It was not so much the Labour Party but really the Chris Hipkins party yesterday at Labour’s caucus retreat in Martinborough. The former Prime Minister was more or less consistent on wealth tax, which he was at best equivocal about, and social insurance, which he was not willing to revisit. ...
    PolitikBy Richard Harman
    5 days ago
  • Skeptical Science New Research for Week #11 2024
    Open access notables A Glimpse into the Future: The 2023 Ocean Temperature and Sea Ice Extremes in the Context of Longer-Term Climate Change, Kuhlbrodt et al., Bulletin of the American Meteorological Society: In the year 2023, we have seen extraordinary extrema in high sea surface temperature (SST) in the North Atlantic and in ...
    5 days ago
  • Melissa remains mute on media matters but has something to say (at a sporting event) about economic ...
     Buzz from the Beehive   The text reproduced above appears on a page which records all the media statements and speeches posted on the government’s official website by Melissa Lee as Minister of Media and Communications and/or by Jenny Marcroft, her Parliamentary Under-secretary.  It can be quickly analysed ...
    Point of OrderBy Bob Edlin
    5 days ago
  • The return of Muldoon
    For forty years, Robert Muldoon has been a dirty word in our politics. His style of government was so repulsive and authoritarian that the backlash to it helped set and entrench our constitutional norms. His pig-headedness over forcing through Think Big eventually gave us the RMA, with its participation and ...
    No Right TurnBy Idiot/Savant
    5 days ago
  • Will the rental tax cut improve life for renters or landlords?
    Bryce Edwards writes –  Is the new government reducing tax on rental properties to benefit landlords or to cut the cost of rents? That’s the big question this week, after Associate Finance Minister David Seymour announced on Sunday that the Government would be reversing the Labour Government’s removal ...
    Point of OrderBy poonzteam5443
    5 days ago
  • Geoffrey Miller: What Saudi Arabia’s rapid changes mean for New Zealand
    Saudi Arabia is rarely far from the international spotlight. The war in Gaza has brought new scrutiny to Saudi plans to normalise relations with Israel, while the fifth anniversary of the controversial killing of Jamal Khashoggi was marked shortly before the war began on October 7. And as the home ...
    Democracy ProjectBy Geoffrey Miller
    5 days ago
  • Racism’s double standards
    Questions need to be asked on both sides of the world Peter Williams writes –   The NRL Judiciary hands down an eight week suspension to Sydney Roosters forward Spencer Leniu , an Auckland-born Samoan, after he calls Ezra Mam, Sydney-orn but of Aboriginal and Torres Strait ...
    Point of OrderBy poonzteam5443
    5 days ago
  • It’s not a tax break
    Ele Ludemann writes – Contrary to what many headlines and news stories are saying, residential landlords are not getting a tax break. The government is simply restoring to them the tax deductibility of interest they had until the previous government removed it. There is no logical reason ...
    Point of OrderBy poonzteam5443
    5 days ago
  • The Plastic Pig Collective and Chris' Imaginary Friends.
    I can't remember when it was goodMoments of happiness in bloomMaybe I just misunderstoodAll of the love we left behindWatching our flashbacks intertwineMemories I will never findIn spite of whatever you becomeForget that reckless thing turned onI think our lives have just begunI think our lives have just begunDoes anyone ...
    Nick’s KōreroBy Nick Rockel
    5 days ago
  • Who is responsible for young offenders?
    Michael Bassett writes – At first reading, a front-page story in the New Zealand Herald on 13 March was bizarre. A group of severely intellectually limited teenagers, with little understanding of the law, have been pleading to the Justice Select Committee not to pass a bill dealing with ram ...
    Point of OrderBy poonzteam5443
    5 days ago
  • Gordon Campbell on National’s fantasy trip to La La Landlord Land
    How much political capital is Christopher Luxon willing to burn through in order to deliver his $2.9 billion gift to landlords? Evidently, Luxon is: (a) unable to cost the policy accurately. As Anna Burns-Francis pointed out to him on Breakfast TV, the original ”rock solid” $2.1 billion cost he was ...
    5 days ago
  • Bernard's Top 10 @ 10 'pick 'n' mix' for March 14
    TL;DR: My top 10 news and analysis links this morning include:Today’s must-read: Jonathon Porritt calling bullshit in his own blog post on mainstream climate science as ‘The New Denialism’.Local scoop: The Wellington City Council’s list of proposed changes to the IHP recommendations to be debated later today was leaked this ...
    The KakaBy Bernard Hickey
    5 days ago
  • No, Prime Minister, rents don’t rise or fall with landlords’ costs
    TL;DR: Prime Minister Christopher Luxon said yesterday tenants should be grateful for the reinstatement of interest deductibility because landlords would pass on their lower tax costs in the form of lower rents. That would be true if landlords were regulated monopolies such as Transpower or Auckland Airport1, but they’re not, ...
    The KakaBy Bernard Hickey
    5 days ago
  • Cartoons: ‘At least I didn’t make things awkward’
    This is a re-post from Yale Climate Connections by Tom Toro Tom Toro is a cartoonist and author. He has published over 200 cartoons in The New Yorker since 2010. His cartoons appear in Playboy, the Paris Review, the New York Times, American Bystander, and elsewhere. Related: What 10 EV lovers ...
    5 days ago
  • Solving traffic congestion with Richard Prebble
    The business section of the NZ Herald is full of opinion. Among the more opinionated of all is the ex-Minister of Transport, ex-Minister of Railways, ex MP for Auckland Central (1975-93, Labour), Wellington Central (1996-99, ACT, then list-2005), ex-leader of the ACT Party, uncle to actor Antonia, the veritable granddaddy ...
    Greater AucklandBy Patrick Reynolds
    5 days ago
  • I Think I'm Done Flying Boeing
    Hi,Just quickly — I’m blown away by the stories you’ve shared with me over the last week since I put out the ‘Gary’ podcast, where I told you about the time my friend’s flatmate killed the neighbour.And you keep telling me stories — in the comments section, and in my ...
    David FarrierBy David Farrier
    5 days ago
  • Invoking Aristotle: Of Rings of Power, Stones, and Ships
    The first season of Rings of Power was not awful. It was thoroughly underwhelming, yes, and left a lingering sense of disappointment, but it was more expensive mediocrity than catastrophe. I wrote at length about the series as it came out (see the Review section of the blog, and go ...
    6 days ago
  • Van Velden brings free-market approach to changing labour laws – but her colleagues stick to distr...
    Buzz from the Beehive Workplace Relations and Safety Minister Brooke van Velden told Auckland Business Chamber members they were the first audience to hear her priorities as a minister in a government committed to cutting red tape and regulations. She brandished her liberalising credentials, saying Flexible labour markets are the ...
    Point of OrderBy Bob Edlin
    6 days ago
  • Why Newshub failed
    Chris Trotter writes – TO UNDERSTAND WHY NEWSHUB FAILED, it is necessary to understand how TVNZ changed. Up until 1989, the state broadcaster had been funded by a broadcasting licence fee, collected from every citizen in possession of a television set, supplemented by a relatively modest (compared ...
    Point of OrderBy poonzteam5443
    6 days ago
  • Māori Party on the warpath against landlords and seabed miners – let’s see if mystical creature...
    Bob Edlin writes  –  The Māori Party has been busy issuing a mix of warnings and threats as its expresses its opposition to interest deductibility for landlords and the plans of seabed miners. It remains to be seen whether they  follow the example of indigenous litigants in Australia, ...
    Point of OrderBy Bob Edlin
    6 days ago
  • There’s a name for this
    Every year, in the Budget, Parliament forks out money to government agencies to do certain things. And every year, as part of the annual review cycle, those agencies are meant to report on whether they have done the things Parliament gave them that money for. Agencies which consistently fail to ...
    No Right TurnBy Idiot/Savant
    6 days ago
  • Echoes of 1968 in 2024?  Pocock on the repetitive problems of the New Left
    Mike Grimshaw writes – Recent events in American universities point to an underlying crisis of coherent thinking, an issue that increasingly affects the progressive left across the Western world. This of course is nothing new as anyone who can either remember or has read of the late ...
    Point of OrderBy poonzteam5443
    6 days ago
  • Two bar blues
    The thing about life’s little victories is that they can be followed by a defeat.Reader Darryl told me on Monday night:Test again Dave. My “head cold” last week became COVID within 24 hours, and is still with me. I hear the new variants take a bit longer to show up ...
    More Than A FeildingBy David Slack
    6 days ago
  • Bernard's Top 10 @ 10 'pick 'n' mix' for March 13
    TL;DR: My top 10 news and analysis links this morning include:Today’s must-read: Angus Deaton on rethinking his economics IMFLocal scoop: The people behind Tamarind, the firm that left a $500m cleanup bill for taxpayers at Taranaki’s Tui oil well, are back operating in Taranaki under a different company name. Jonathan ...
    The KakaBy Bernard Hickey
    6 days ago

  • Positive progress for social worker workforce
    New Zealand’s social workers are qualified, experienced, and more representative of the communities they serve, Social Development and Employment Minister Louise Upston says. “I want to acknowledge and applaud New Zealand’s social workers for the hard work they do, providing invaluable support for our most vulnerable. “To coincide with World ...
    BeehiveBy beehive.govt.nz
    5 hours ago
  • Minister confirms reduced RUC rate for PHEVs
    Cabinet has agreed to a reduced road user charge (RUC) rate for plug-in hybrid electric vehicles (PHEVs), Transport Minister Simeon Brown says. Owners of PHEVs will be eligible for a reduced rate of $38 per 1,000km once all light electric vehicles (EVs) move into the RUC system from 1 April.  ...
    BeehiveBy beehive.govt.nz
    7 hours ago
  • Trade access to overseas markets creates jobs
    Minister of Agriculture and Trade, Todd McClay, says that today’s opening of Riverland Foods manufacturing plant in Christchurch is a great example of how trade access to overseas markets creates jobs in New Zealand.  Speaking at the official opening of this state-of-the-art pet food factory the Minister noted that exports ...
    BeehiveBy beehive.govt.nz
    7 hours ago
  • NZ and Chinese Foreign Ministers hold official talks
    Minister of Foreign Affairs Winston Peters met with Chinese Foreign Minister Wang Yi in Wellington today. “It was a pleasure to host Foreign Minister Wang Yi during his first official visit to New Zealand since 2017. Our discussions were wide-ranging and enabled engagement on many facets of New Zealand’s relationship with China, including trade, ...
    BeehiveBy beehive.govt.nz
    21 hours ago
  • Kāinga Ora instructed to end Sustaining Tenancies
    Kāinga Ora – Homes & Communities has been instructed to end the Sustaining Tenancies Framework and take stronger measures against persistent antisocial behaviour by tenants, says Housing Minister Chris Bishop. “Earlier today Finance Minister Nicola Willis and I sent an interim Letter of Expectations to the Board of Kāinga Ora. ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Speech to Auckland Business Chamber: Growth is the answer
    Tēna koutou katoa. Greetings everyone. Thank you to the Auckland Chamber of Commerce and the Honourable Simon Bridges for hosting this address today. I acknowledge the business leaders in this room, the leaders and governors, the employers, the entrepreneurs, the investors, and the wealth creators. The coalition Government shares your ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Singapore rounds out regional trip
    Minister Winston Peters completed the final leg of his visit to South and South East Asia in Singapore today, where he focused on enhancing one of New Zealand’s indispensable strategic partnerships.      “Singapore is our most important defence partner in South East Asia, our fourth-largest trading partner and a ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Minister van Velden represents New Zealand at International Democracy Summit
    Minister of Internal Affairs and Workplace Relations and Safety, Hon. Brooke van Velden, will travel to the Republic of Korea to represent New Zealand at the Third Summit for Democracy on 18 March. The summit, hosted by the Republic of Korea, was first convened by the United States in 2021, ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Insurance Council of NZ Speech, 7 March 2024, Auckland
    ICNZ Speech 7 March 2024, Auckland  Acknowledgements and opening  Mōrena, ngā mihi nui. Ko Andrew Bayly aho, Nor Whanganui aho.  Good morning, it’s a privilege to be here to open the ICNZ annual conference, thank you to Mark for the Mihi Whakatau  My thanks to Tim Grafton for inviting me ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Five-year anniversary of Christchurch terror attacks
    Prime Minister Christopher Luxon and Lead Coordination Minister Judith Collins have expressed their deepest sympathy on the five-year anniversary of the Christchurch terror attacks. “March 15, 2019, was a day when families, communities and the country came together both in sorrow and solidarity,” Mr Luxon says.  “Today we pay our respects to the 51 shuhada ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Speech for Financial Advice NZ Conference 5 March 2024
    Speech for Financial Advice NZ Conference 5 March 2024  Acknowledgements and opening  Morena, Nga Mihi Nui.  Ko Andrew Bayly aho, Nor Whanganui aho. Thanks Nate for your Mihi Whakatau  Good morning. It’s a pleasure to formally open your conference this morning. What a lovely day in Wellington, What a great ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Early visit to Indonesia strengthens ties
    Foreign Minister Winston Peters held discussions in Jakarta today about the future of relations between New Zealand and South East Asia’s most populous country.   “We are in Jakarta so early in our new government’s term to reflect the huge importance we place on our relationship with Indonesia and South ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • China Foreign Minister to visit
    Deputy Prime Minister and Minister of Foreign Affairs Winston Peters has announced that the Foreign Minister of China, Wang Yi, will visit New Zealand next week.  “We look forward to re-engaging with Foreign Minister Wang Yi and discussing the full breadth of the bilateral relationship, which is one of New Zealand’s ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Minister opens new Auckland Rail Operations Centre
    Transport Minister Simeon Brown has today opened the new Auckland Rail Operations Centre, which will bring together KiwiRail, Auckland Transport, and Auckland One Rail to improve service reliability for Aucklanders. “The recent train disruptions in Auckland have highlighted how important it is KiwiRail and Auckland’s rail agencies work together to ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Celebrating 10 years of Crankworx Rotorua
    The Government is proud to support the 10th edition of Crankworx Rotorua as the Crankworx World Tour returns to Rotorua from 16-24 March 2024, says Minister for Economic Development Melissa Lee.  “Over the past 10 years as Crankworx Rotorua has grown, so too have the economic and social benefits that ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Government delivering on tax commitments
    Legislation implementing coalition Government tax commitments and addressing long-standing tax anomalies will be progressed in Parliament next week, Finance Minister Nicola Willis says. The legislation is contained in an Amendment Paper to the Taxation (Annual Rates for 2023–24, Multinational Tax, and Remedial Matters) Bill issued today.  “The Amendment Paper represents ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Significant Natural Areas requirement to be suspended
    Associate Environment Minister Andrew Hoggard has today announced that the Government has agreed to suspend the requirement for councils to comply with the Significant Natural Areas (SNA) provisions of the National Policy Statement for Indigenous Biodiversity for three years, while it replaces the Resource Management Act (RMA).“As it stands, SNAs ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Government classifies drought conditions in Top of the South as medium-scale adverse event
    Agriculture Minister Todd McClay has classified the drought conditions in the Marlborough, Tasman, and Nelson districts as a medium-scale adverse event, acknowledging the challenging conditions facing farmers and growers in the district. “Parts of Marlborough, Tasman, and Nelson districts are in the grip of an intense dry spell. I know ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Government partnership to tackle $332m facial eczema problem
    The Government is helping farmers eradicate the significant impact of facial eczema (FE) in pastoral animals, Agriculture Minister Todd McClay announced.  “A $20 million partnership jointly funded by Beef + Lamb NZ, the Government, and the primary sector will save farmers an estimated NZD$332 million per year, and aims to ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • NZ, India chart path to enhanced relationship
    Foreign Minister Winston Peters has completed a successful visit to India, saying it was an important step in taking the relationship between the two countries to the next level.   “We have laid a strong foundation for the Coalition Government’s priority of enhancing New Zealand-India relations to generate significant future benefit for both countries,” says Mr Peters, ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Ruapehu Alpine Lifts bailout the last, say Ministers
    Cabinet has agreed to provide $7 million to ensure the 2024 ski season can go ahead on the Whakapapa ski field in the central North Island but has told the operator Ruapehu Alpine Lifts it is the last financial support it will receive from taxpayers. Cabinet also agreed to provide ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Govt takes action to drive better cancer services
    Health Minister Dr Shane Reti says the launch of a new mobile breast screening unit in Counties Manukau reinforces the coalition Government’s commitment to drive better cancer services for all New Zealanders. Speaking at the launch of the new mobile clinic, Dr Reti says it’s a great example of taking ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Govt takes action to drive better cancer services
    Health Minister Dr Shane Reti says the launch of a new mobile breast screening unit in Counties Manukau reinforces the coalition Government’s commitment to drive better cancer services for all New Zealanders. Speaking at the launch of the new mobile clinic, Dr Reti says it’s a great example of taking ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Work begins on SH29 upgrades near Tauriko
    Unlocking economic growth and land for housing are critical elements of the Government’s plan for our transport network, and planned upgrades to State Highway 29 (SH29) near Tauriko will deliver strongly on those priorities, Transport Minister Simeon Brown says. “The SH29 upgrades near Tauriko will improve safety at the intersections ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Work begins on SH29 upgrades near Tauriko
    Unlocking economic growth and land for housing are critical elements of the Government’s plan for our transport network, and planned upgrades to State Highway 29 (SH29) near Tauriko will deliver strongly on those priorities, Transport Minister Simeon Brown says. “The SH29 upgrades near Tauriko will improve safety at the intersections ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Fresh produce price drop welcome
    Lower fruit and vegetable prices are welcome news for New Zealanders who have been doing it tough at the supermarket, Finance Minister Nicola Willis says. Stats NZ reported today the price of fruit and vegetables has dropped 9.3 percent in the 12 months to February 2024.  “Lower fruit and vege ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Speech to the 68th United Nations Commission on the Status of Women (CSW68)
    Tēnā koutou katoa and greetings to you all.  Chair, I am honoured to address the 68th session of the Commission on the Status of Women. I acknowledge the many crises impacting the rights of women and girls. Heightened global tensions, war, climate related and humanitarian disasters, and price inflation all ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Statement to the 68th United Nations Commission on the Status of Women
    Tēnā koutou katoa and greetings to you all.  Chair, I am honoured to address the sixty-eighth session of the Commission on the Status of Women. I acknowledge the many crises impacting the rights of women and girls. Heightened global tensions, war, climate related and humanitarian disasters, and price inflation all ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Government backs rural led catchment projects
    The coalition Government is supporting farmers to enhance land management practices by investing $3.3 million in locally led catchment groups, Agriculture Minister Todd McClay announced. “Farmers and growers deliver significant prosperity for New Zealand and it’s vital their ongoing efforts to improve land management practices and water quality are supported,” ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Speech to Auckland Business Chamber
    Good evening everyone and thank you for that lovely introduction.   Thank you also to the Honourable Simon Bridges for the invitation to address your members. Since being sworn in, this coalition Government has hit the ground running with our 100-day plan, delivering the changes that New Zealanders expect of us. ...
    BeehiveBy beehive.govt.nz
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  • Commission’s advice on ETS settings tabled
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