Have National’s asset sales officially cost more than they’ll earn?

Written By: - Date published: 7:00 pm, September 22nd, 2013 - 51 comments
Categories: accountability, assets, bill english, debt / deficit, economy, john key, national - Tags:

In a previous post at The Standard I did a wee bit of math and came to the conclusion that National has already made $5.26 billion worth of spending promises out of the Future Investment Fund, the not-actually-a-fund chunk of cash they plan to make from selling taxpayer-built infrastructure to their mates.

Things have developed.

First, there’s this post from James, noting that the sales process itself has already cost $124 million.  And this estimate from the Greens of the cost of the Government’s interest-free loans to Meridian investors.

And then there’s this acknowledgement from John Key that the original five-to-seven billion dollar estimate for the profits from the sales are pretty much shot to hell.

So now we’re left with:

  • Maybe $5 billion in income – only 2.1 billion of which has come in so far
  • $5.26 billion in promised spending
  • $124 million in process costs
  • $55 million in bribes to investors

Costs we’re still not including:

  • National’s promise to reduce our debt by $6 billion
  • Ongoing loss of profits to the Crown, as outlined in James’ post
  • The ongoing maintenance of all the projects they’re promising to fund – because shit needs to be staffed, maintained, cleaned and managed after you’ve built it or it’s a complete waste of time.

So at the most generous estimate?

We’re already in the hole for four hundred and thirty-nine million dollars.  Taking the promised spending and costs to date away from the actual funds received?

Three point three billion dollars in the red.

That’s the sound fiscal management of the National Party.

51 comments on “Have National’s asset sales officially cost more than they’ll earn? ”

  • Comments are now closed

  1. infused 1
    22 September 2013 at 8:02 pm

    heading != actual post. $5.26 billion in promised spending != asset sales costing more.

    5 kittens died because of this post.

    [QoT: You know, honestly I don’t understand the point you think you’re making, but you can get the fuck out of this post anyway.]

    • Psycho Milt 1.1
      22 September 2013 at 9:35 pm

      The point he’s making is straightforward, because the word “cost” has a plain English meaning that requires no training in economics to understand. That meaning doesn’t encompass promises the government has made about what spending it will carry out; it encompasses only money spent or lost on the sales, which according to your post amounts to $179 mil + lost future revenue. You may not like his point, but it’s a valid one.

      • QoT 1.1.1
        22 September 2013 at 10:02 pm

        As I said below:

        Yes, but headlining this post “Have the promised applications of the proceeds of National’s asset sales theoretically overshot the projected profits?” might be accurate but hardly clear or interesting.

        If the worst thing anyone’s going to say about this post is that I sacrificed Pure Linguistic Accuracy for the sake of a snappy title, I’m not going to cry about it. But I am going to insist that we move the fuck on and stay on topic.

  2. blue leopard (Get Lost GCSB Bill) 2
    22 September 2013 at 8:18 pm

    The lost revenue means that they were always going to cost more than they earn, just how long that equation takes to deliver it’s sorry little promise is the pending question.

    • QoT 2.1
      22 September 2013 at 8:39 pm

      The post already noted that there’s the issue of lost revenue. The point I’m making is that promised spending from the proceeds of assets sales is already more than the (theoretical) proceeds of asset sales.

      • blue leopard (Get Lost GCSB Bill) 2.1.1
        22 September 2013 at 9:01 pm

        I did see that, I was emphasizing the point because I think it is important, seeing as there is this view around that Nats have a good grasp on fiscal management, which I think is utterly wrong and this is a prime example of it.

        I also like your point you made about the promises totaling more than the income.

        I thought, however in this post, that you were saying that the costs of making the sales are costing more than they are going bring in?

        • QoT 2.1.1.1
          22 September 2013 at 9:06 pm

          Primarily, I’m saying they’re promising to spend more than they’re going to earn. I know it’s not the whole issue – because when you take into account everything else it’s a massive hole in the “household budget” of government – but I also think that a lot of people really just aren’t that economically literate, so saying “earn $2, spend $4” illustrates the problem more clearly.

          (A conspiracy theorist could ponder whether people are kept economically uneducated precisely in order to allow the ruling powers free rein to do this kind of crap.)

          • Psycho Milt 2.1.1.1.1
            22 September 2013 at 9:39 pm

            From what I remember, they promised to use the money to reduce debt as well as promising to spend it – I can’t wait to see how they’re going to manage that one. I know Key is meant to be one of those “smartest men in the room” who brought us the GFC, but even for one of them it would be a pretty good trick.

            • blue leopard (Get Lost GCSB Bill) 2.1.1.1.1.1
              22 September 2013 at 11:05 pm

              @ Psycho Milt
              Lolz! 😆

            • lprent 2.1.1.1.1.2
              22 September 2013 at 11:50 pm

              They had already spent it several times over in 2012 before the sales ever had ever happened and all of it on things that were either new spending or were one-offs.

              Directly reducing debt? Hardly. From memory, MRP and one other sale were budgeted into the 2013 budget as revenue. The amount of debt rose by the amount you’d have expected if neither the Mighty River Power sale hadn’t happened, nor did the other one.

            • Chris 2.1.1.1.1.3
              23 September 2013 at 9:01 am

              They are reducing the total debt by spending it on projects that would otherwise have been debt funded. Just because the money is not directly going to pay down debt does not mean it is not reducing the total debt of the country.

              • Tangee …
                23 September 2013 at 9:37 am

                Yes debt funded at a low rate and lose a high performing asset for good.

              • blue leopard (Get Lost GCSB Bill) …
                23 September 2013 at 11:24 am

                +1 Tangee

                @ Chris

                “Just because the money is not directly going to pay down debt does not mean it is not reducing the total debt of the country.”

                I’d like to see how far that argument gets you with your bank manager in the event that you have a debt to them.

    • karol 2.2
      22 September 2013 at 9:06 pm

      QoT – glad you didn’t understand it either. I was having an, is-it-infused-or-is-it-me? moment.

      • QoT 2.2.1
        22 September 2013 at 9:11 pm

        I presume there’s some very clever, “the spending promises aren’t direct costs of the sales” point behind it all, but given infused tried to pull the same crap on my last post on the topic I figured a swift and decisive smackdown was called for.

        • Lanthanide 2.2.1.1
          22 September 2013 at 9:29 pm

          I wouldn’t call that “very clever”, I’d call it basic logic.

          Promising to spend the proceeds of a sale has nothing to do with the cost of undertaking that sale.

          • QoT 2.2.1.1.1
            22 September 2013 at 9:33 pm

            Yes, but headlining this post “Have the promised applications of the proceeds of National’s asset sales theoretically overshot the projected profits?” might be accurate but hardly clear or interesting.

            Our government is selling assets on the basis of promises to spend the money for the good of the country. By their own figures, they are at the very least lying about where the money to meet their promises will come from.

            I’m now quite done arguing a derailing point which was only raised because infused is a fucking troll who is not welcome to comment on my posts.

  3. dumrse 3
    22 September 2013 at 8:50 pm

    Have National’s asset sales officially cost more than they’ll earn? The term “officially” refers to what? Is your humble opinion official ?

    [QoT: Given that my post relies on backed-up figures predominantly from government sources, I think anyone who isn’t a fucking troll can figure out what “official” means.]

    • dumrse 3.1
      22 September 2013 at 9:46 pm

      I was looking for ” pretty much shot to hell” but, as I suspected, I cannot find it in the article you have linked to. The rest are probably overstated as well.

      [QoT: Original estimated profits: 5 to 7 billion. Headline of linked article: “Asset sales will struggle to net $5 billion, says Key”. And you’re done here.]

      [lprent: dumrse didn’t pick his name lightly. His ability to understand any numbers is limited by his inability to exceed his personal digital registers. Since he hasn’t discovered his feet yet, this means he is incapable of understanding numbers past 11. ]

  4. North 4
    22 September 2013 at 9:18 pm

    No, D’arse @ 3. However your exceedingly humble brain made superficially attractive by talk of the “holiday home” in Hawaii IS official. Exceedingly humble !

    Forgive me but I’d probably half forgive His Crassness if he’d shamblingly engaged the continental kissing business so mad in Parnell. And in keeping with that fine buzz said – “villa” – in Hawaii.

    What I cannot forgive is the Earl of ShonKey sitting with the Queen and simperingly telling her – “You have a magnificent ‘property’ here Your Madge !

    What ? Fucking Balmoral a fucking ‘property’ ?

    OMG The Tower The Tower.

  5. GregJ 5
    22 September 2013 at 9:48 pm

    That’s the sound fiscal management of the National Party.

    Of course nothing about National’s financial management is sound – it is pretty much a complete laissez-faire approach and eschews any active management at all.

    The Future Investment Fund was just the smokescreen to what was an ideological decision to facilitate the transfer of public assets into the private sector – I doubt anyone buying the shares were in any doubt about the real purpose of the Part Privatisations, most core National Voters weren’t either, those opposed certainly are aware and the only ones who believed in it are the soft centre voters who voted for National and then probably didn’t (or could afford) to buy shares anyway.

    • QoT 5.1
      22 September 2013 at 10:05 pm

      I actually can’t get over the fact that the Future Investment Fund isn’t even a fund. And I’m the person getting snarked at for using the word “cost” inaccurately.

      • GregJ 5.1.1
        22 September 2013 at 10:23 pm

        Heh – yeah “Fund” – election Pork Barrel more like!

      • Brett Dale 5.1.2
        22 September 2013 at 10:34 pm

        Dont knock the future, everything will be free, maybe even Pepsi.

        [QoT: Brett, make a relevant comment which shows you’ve taken half a minute to google the basic facts or click the links in the article or go away.]

        • Brett Dale 5.1.2.1
          22 September 2013 at 10:51 pm

          [QoT: The standard for posting here, generally, is “don’t piss off the moderators”. This is my post and I am going to moderate it harshly because I can’t be fucked with the usual bullshit. This includes you derailing things with your uninformed non-sequiturs.]

          • Murray Olsen 5.1.2.1.1
            22 September 2013 at 11:17 pm

            I don’t want them to sell state assets to anyone. What sort of left winger does that make me?

            Heavy? Nah, a stupid lightweight argument. A country isn’t rich because it temporarily has some cash on hand. It has to keep running things, with the added weight of private profit, and would actually be poorer by any reasonable measure.

      • anne 5.1.3
        23 September 2013 at 10:32 am

        Why don’t you do an ‘economics for dummies’ course before undertaking posts like this one.

        [karol: this looks like a different “anne” from our long time commenter “Anne” – difference of a capital letter – is this going to cause confusion?

        PS: Also, you clearly look like a new commenter, and need to read the part of The Standard policy about abusing the post authors being a banning offence]

        • Anne 5.1.3.1
          23 September 2013 at 11:33 am

          This is not the regular Anne.

          She’s been around in the past – both here and on Red Alert. Not a good role model for the real Annes…

          • GregJ 5.1.3.1.1
            23 September 2013 at 5:02 pm

            Heh – my mother is a(an?) Anne – I normally always listen to “Anne”s 😉

            – “anne”s however – not so much? 😈

            • Anne 5.1.3.1.1.1
              25 September 2013 at 9:00 pm

              Thanks GregJ. 🙂

              I’ve only just seen your comment due to the search function going awol. Back to normal now.

        • Colonial Viper 5.1.3.2
          23 September 2013 at 11:42 am

          Why don’t you do an ‘economics for dummies’ course before undertaking posts like this one.

          You do realise that most “economics” courses are big fat vats of laced neoliberal kool-aid, right?

          Almost every pseudo-scientific mathematical model from neoliberal economics is a bunch of falsifiable mistake ridden junk.

          The usual neo-liberal assumptions of equilibrium, price demand curves, market efficiency, rationality, role of banks, role of debt etc. All dead wrong.

  6. tracey 6
    23 September 2013 at 5:28 am

    Mr key and the nats are very clear that the last election gave them a mandate on asset sales. That mandate is presumably based on their pre election statements from them about said asset sales. One of those statements was that they would pay down debt with the proceeds. Ergo the mandate is not to sell assets it is to sell assets AND pay down debt. Those who say these do not go together must logically agree that one without the other destroys the mandate.

    I also thought tge article wld suggest actual cost had exceeded proceeds but I soon realised what qot was actually saying.

    those who have focus on her semantics have ignored john keys and the nats
    which us far more crucial.

    well done qot and james and john keys on mealeg mouthed words

    • Wayne 6.1
      23 September 2013 at 7:08 am

      Tracey,

      If you can make investments using the proceeds of sales, you are reducing the requirement to borrow.

      Most of the investments (as pointed out on The Standard) are things that would likely have to done in any event. For instance part of the contribution for the Christchurch rebuild and CBD rail.

      In Labour’s case the money would have to be borrowed. After all, almost of you think National is being too strict with spending to get to a surplus.

      I appreciate that taxes will go up, lets say by $2 billion or so, but the spending promises will be as least as much. Or alternatively David Cunliffe’s actual promises will be less than his rhetoric would indicate.

      • QoT 6.1.1
        23 September 2013 at 8:59 am

        If you can make investments using the proceeds of sales, you are reducing the requirement to borrow.

        Only if you’re paying for things you were intending to pay for before the sale. And given the increased costs of borrowing created by the need to maintain all those lovely schools and hospitals which are going to be built, I don’t think even that argument works.

      • blue leopard (Get Lost GCSB Bill) 6.1.2
        23 September 2013 at 11:17 am

        Wayne,

        ‘Reducing the requirement’ to borrow is not the same thing as ‘paying down debt’.

      • lprent 6.1.3
        23 September 2013 at 2:03 pm

        There has been nothing applied or even promised from asset sales towards the CBD rail loop that I’m aware of. In fact the government hasn’t even indicated where the money will come from. But certainly not the future ‘fund’.

        They are applying some of the asset sales to the christchurch rebuild. There have to be considerable questions about them needing to do that. It rather makes a mockery of the EQC’s insurance premiums that we’ve been paying all of this time. The shortfalls appear to be significiant.

    • QoT 6.2
      23 September 2013 at 8:58 am

      Thanks tracey – and that’s a really good point about what National’s mandate actually is.

  7. Ennui 7
    23 September 2013 at 7:33 am

    Q, do you really think that the representative for Merill Lynch and his Nact cronies give a flying f**k at being fiscally responsible?

    Get real, ask the question, “Who pays?” Answer is us the tax payer (directly plus more interest to the banksters).

    “Who gets what?” Answer is the rich because they will receive the asset at a cut price, and will then up our prices so they can take a rent on the dividend…..and they wont pay tax either.

    Do you think the buyers really care about “fiscal responsibility”? Its all about asset transfer (aka theft from you and me).

    • QoT 7.1
      23 September 2013 at 9:00 am

      Oh, I don’t think they give a crap at all. But that’s the line they use to market themselves as a governing party, so shooting it down is well worth the trouble.

      • Ennui 7.1.1
        23 September 2013 at 9:27 am

        Which is where we disagree. Semantics…”fiscal irresponsibility” is just more political weasel words to Joe and Jill Public…”theft” however is an easy tag, and as they say mud sticks. And stuck mud loses elections.

        • felix 7.1.1.1
          23 September 2013 at 11:41 am

          Both approaches are necessary.

        • Wayne 7.1.1.2
          23 September 2013 at 1:07 pm

          “Theft” is too extreme a term. The average NZer does not think of either of two main parties in this kind of way. They may not agree with the parties on particular issues, but they do generally regard them as acceptable alternative govts (even if not their particular choice).

          This kind of language only appeals to partisans (and only some of them) and the two parties already have the support of their respective partisans.

          • QoT 7.1.1.2.1
            23 September 2013 at 9:58 pm

            But “lies” is a very accurate term which the average NZer wouldn’t have any problem applying to this situation.

  8. tracey 8
    23 September 2013 at 9:22 am

    Wayne

    this govt has borrowed 50bn. It pays less than 4% on that.

    mrp yielded 11% last year and meridian 8%.

    Ideology on this is trumped by math on this one.

    if we had a labour green govt doing this phrases like funny money and looney economics would be raised. And rightly so.

    instead if defending the indefensible maybe nothing

  9. tracey 9
    23 September 2013 at 9:32 am

    Wayne

    when was appkling the funds from the asset sale to aucks rail loop mandated. Can you providexa link?

  10. big brother and the screw u co 10
    24 September 2013 at 10:37 pm

    85 DOLLARS minute and rising HeLLO GREECE we are closer than than thought globally possible

Recent Comments

Recent Posts

  • 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
    3 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
    9 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
    10 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
    12 hours 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
    12 hours 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
    15 hours 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
    16 hours 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
    20 hours 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
    1 day 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
    3 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
    3 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
    3 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
    3 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
    3 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
    4 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
    6 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
    6 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
    7 days ago

  • Navigating an unstable global environment
    New Zealand is renewing its connections with a world facing urgent challenges by pursuing an active, energetic foreign policy, Foreign Minister Winston Peters says.   “Our country faces the most unstable global environment in decades,” Mr Peters says at the conclusion of two weeks of engagements in Egypt, Europe and the United States.    “We cannot afford to sit back in splendid ...
    BeehiveBy beehive.govt.nz
    7 days ago

  • NZ welcomes Australian Governor-General
    Prime Minister Christopher Luxon has announced the Australian Governor-General, His Excellency General The Honourable David Hurley and his wife Her Excellency Mrs Linda Hurley, will make a State visit to New Zealand from Tuesday 16 April to Thursday 18 April. The visit reciprocates the State visit of former Governor-General Dame Patsy Reddy ...
    BeehiveBy beehive.govt.nz
    7 days ago

  • Pseudoephedrine back on shelves for Winter
    Associate Health Minister David Seymour has announced that Medsafe has approved 11 cold and flu medicines containing pseudoephedrine. Pharmaceutical suppliers have indicated they may be able to supply the first products in June. “This is much earlier than the original expectation of medicines being available by 2025. The Government recognised ...
    BeehiveBy beehive.govt.nz
    7 days ago

  • NZ and the US: an ever closer partnership
    New Zealand and the United States have recommitted to their strategic partnership in Washington DC today, pledging to work ever more closely together in support of shared values and interests, Foreign Minister Winston Peters says.    “The strategic environment that New Zealand and the United States face is considerably more ...
    BeehiveBy beehive.govt.nz
    7 days ago

  • Joint US and NZ declaration
    April 11, 2024 Joint Declaration by United States Secretary of State the Honorable Antony J. Blinken and New Zealand Minister of Foreign Affairs the Right Honourable Winston Peters We met today in Washington, D.C. to recommit to the historic partnership between our two countries and the principles that underpin it—rule ...
    BeehiveBy beehive.govt.nz
    7 days ago

  • NZ and US to undertake further practical Pacific cooperation
    Foreign Minister Winston Peters has announced further New Zealand cooperation with the United States in the Pacific Islands region through $16.4 million in funding for initiatives in digital connectivity and oceans and fisheries research.   “New Zealand can achieve more in the Pacific if we work together more urgently and ...
    BeehiveBy beehive.govt.nz
    7 days ago

  • Government redress for Te Korowai o Wainuiārua
    The Government is continuing the bipartisan effort to restore its relationship with iwi as the Te Korowai o Wainuiārua Claims Settlement Bill passed its first reading in Parliament today, says Treaty Negotiations Minister Paul Goldsmith. “Historical grievances of Te Korowai o Wainuiārua relate to 19th century warfare, land purchased or taken ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Focus on outstanding minerals permit applications
    New Zealand Petroleum and Minerals is working to resolve almost 150 outstanding minerals permit applications by the end of the financial year, enabling valuable mining activity and signalling to the sector that New Zealand is open for business, Resources Minister Shane Jones says.  “While there are no set timeframes for ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Applications open for NZ-Ireland Research Call
    The New Zealand and Irish governments have today announced that applications for the 2024 New Zealand-Ireland Joint Research Call on Agriculture and Climate Change are now open. This is the third research call in the three-year Joint Research Initiative pilot launched in 2022 by the Ministry for Primary Industries and Ireland’s ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Tenancy rules changes to improve rental market
    The coalition Government has today announced changes to the Residential Tenancies Act to encourage landlords back to the rental property market, says Housing Minister Chris Bishop. “The previous Government waged a war on landlords. Many landlords told us this caused them to exit the rental market altogether. It caused worse ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Boosting NZ’s trade and agricultural relationship with China
    Trade and Agriculture Minister Todd McClay will visit China next week, to strengthen relationships, support Kiwi exporters and promote New Zealand businesses on the world stage. “China is one of New Zealand’s most significant trade and economic relationships and remains an important destination for New Zealand’s products, accounting for nearly 22 per cent of our good and ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Freshwater farm plan systems to be improved
    The coalition Government intends to improve freshwater farm plans so that they are more cost-effective and practical for farmers, Associate Environment Minister Andrew Hoggard and Agriculture Minister Todd McClay have announced. “A fit-for-purpose freshwater farm plan system will enable farmers and growers to find the right solutions for their farm ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • New Fast Track Projects advisory group named
    The coalition Government has today announced the expert advisory group who will provide independent recommendations to Ministers on projects to be included in the Fast Track Approvals Bill, say RMA Reform Minister Chris Bishop and Regional Development Minister Shane Jones. “Our Fast Track Approval process will make it easier and ...
    BeehiveBy beehive.govt.nz
    1 week ago

Page generated in The Standard by Wordpress at 2024-04-18T13:25:24+00:00