NZ Tax Haven Inc – of the 1%, by the 1%, for the 1%

Written By: - Date published: 9:19 am, April 4th, 2016 - 92 comments
Categories: Abuse of power, capitalism, International, john key, national, tax - Tags:

Panamanian Law Firm Mossack Fonseca is having a very bad week. The mass leaking of a huge numbers of papers have shown what many of the oligarchs of the world are doing to preserve their ill gotten gains.  Radio New Zealand has described the situation:

A huge leak of confidential documents has revealed how the rich and powerful use tax havens to hide their wealth.

Eleven million documents were leaked from one of the world’s most secretive companies, Panamanian law firm Mossack Fonseca, which sets up companies in offshore tax havens.

The BBC reports the papers show how Mossack Fonseca has helped clients launder money, dodge sanctions and evade tax. The company says it has operated beyond reproach for 40 years and has never been charged with criminal wrong-doing.

The documents show links to 72 current or former heads of state in the data, including dictators accused of looting their own countries.

…

The data contains secret offshore companies linked to the families and associates of Egypt’s former president Hosni Mubarak, Libya’s former leader Muammar Gaddafi and Syria’s president Bashar al-Assad.

It also reveals a suspected billion-dollar money laundering ring that was run by a Russian bank and involved close associates of President Putin.

The Financial Review has reported that New Zealand has played a part in what has occurred:

When New Zealand Prime Minister John Key flew into Malta for the Commonwealth Heads of Government Meeting in November 2015, he already knew he shared some important views with his host, Malta’s Prime Minister Joseph Muscat, about the importance of keeping the tax secrets of foreign investors.

Both countries are quiet achievers in the ranks of global tax havens, and both are determined to keep it that way.

While Malta has been fiercely resisting pressure to close tax avoidance loopholes used by foreign companies, including Australian firms, to move profits out of the European Union, New Zealand has fought just as hard to protect its laws that make foreign profits tax-free and invisible for beneficiaries of its offshore trusts.

But what Key didn’t know, as he and Australia’s Prime Minister Malcolm Turnbull mingled with Muscat at CHOGM, was how deep those links really ran.

Just weeks earlier, Muscat’s chief-of-staff, Keith Schembri, and Malta’s energy minister, Konrad Mizzi, had used New Zealand’s secrecy laws to set up two offshore trusts. These were to be linked to a secret Dubai bank account and to two Panama companies that Schembri and Mizzi had set up in 2013 through a Panamanian law firm.

The revelation of the New Zealand trusts has triggered ongoing crisis for Muscat’s government, but it also increases pressure on New Zealand to tighten its tax loophole for foreign trusts.

Makes you wonder why New Zealand is so disinterested in closing the loopholes that let this occur.  Fran O’Sullivan recently commented on this:

But it is notable that one of the reasons why New Zealand has yet to follow Australia and bring in rigorous laws to clamp down on multinationals which are not paying significant tax here is because this country is competing for investment.

The Key Government is proceeding at a very slow pace indeed, which is rattling New Zealand businessmen like Spark CEO Simon Moutter, who is adamant that it is unfair to local companies that they have to compete against offshore players who have a tax advantage.

So it looks like New Zealand is being used to hide the investments of the 1% at least some of which is from dubious sources. And they do not even pay tax.

The National Party. Of the 1%, by the 1%, for the 1% …

92 comments on “NZ Tax Haven Inc – of the 1%, by the 1%, for the 1% ”

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  1. Fustercluck 1
    4 April 2016 at 9:27 am

    Here you see the motivation for the flag referendum. It is of paramount importance to maintain NZ’s almost unique parliamentary dictatorship if it is to fulfill its role on behalf of the global 0.0001%. A republic with stuff like an independent judiciary and an executive accountable to the people, the courts and the constitution is anathema to our current position, that of lackey to Key’s City of London finance capital cronies.

    • aerobubble 1.1
      4 April 2016 at 12:20 pm

      Explains lots. Why NZ dollar is so heavily traded, why we have a risk premium and why we rely on commodity exports, and why political commentators do the neo-lib of talking blandly how people are rational, party officers being more motivate hold more radical positions, etc etc all simpliest obvious discussions of form avoiding any substantial subject matter.

  2. Ad 2
    4 April 2016 at 9:31 am

    This will have a long deep roll to it, a real earth shake in political leadership circles.

    Spectacular journalism.

  4. Keith 4
    4 April 2016 at 9:38 am

    Get the sickening feeling that the uber rich ex Merrill Lynch wonder boy, John Key, just happened to land on his feet as PM just a little too conveniently in our dirty little tax haven for who knows whose ill gotten gains.

    Welcome to New Zealand, the no questions asked, tax free money laundromat. Even Dubai and Panama turned these crooks away, but not little bent ol’ NZ.

    Makes you wonder doesn’t it, how much cash are our clever National Party millionaires hiding away and why?

    • Fustercluck 4.1
      4 April 2016 at 9:41 am

      You nailed it!

    • Draco T Bastard 4.2
      4 April 2016 at 9:50 am

      Makes you wonder doesn’t it, how much cash are our clever National Party millionaires hiding away and why?

      QFT

      The National Party is inherently corrupt. This is not because the members are corrupt, although I’m sure that some are, but because the policies that National promote and enact support and reward corruption.

      • Bob 4.2.1
        4 April 2016 at 2:11 pm

        “Makes you wonder why New Zealand is so disinterested in closing the loopholes that let this occur”
        How long have these loopholes existed?

        “Politics is inherently corrupt. This is not because the members are corrupt, although I’m sure that some are, but because the policies that politicians promote and enact support and reward corruption”
        FIFY

        • Draco T Bastard 4.2.1.1
          4 April 2016 at 2:19 pm

          No, you broke it. I said National for a reason – they’re corrupt.

          Note the bribe to the Saudis for a FTA?
          Note the Speaker not holding National Ministers to the question?
          Note how many National Ministers have used their position to promote their own business?
          Note the crony capitalism?

          The list goes on and on.

        • AmaKiwi 4.2.1.2
          4 April 2016 at 8:07 pm

          “How long have these loopholes existed?”

          I am almost positive allowing anonymous trusts for non-residents was one of the first actions of the National government in 2009. I am asking my Labour MP to check it out. If I am correct, it will make today’s National denials an obvious pack of lies.

  5. madtom 5
    4 April 2016 at 9:40 am

    Naked Capitalism’s Richard Smith has been revealing relationships between the New Zealand government bureaucracy and the less-savoury side of international money transfers and business scams for years now. He appears to be right on top of this latest, and then some. In addition to citing numerous and reliable sources, he does a lot of independent research, so his work is thorough and authoritative, not emotional rabble-rousing.

    http://www.nakedcapitalism.com/2016/03/new-zealand-foreign-trusts-and-the-unaoil-scandal-more-chickens-coming-home-to-roost-and-theyre-big.html

    For more detail on this and similar not-reported-in-the-Herald news over the past few years, just click on the “New Zealand” topic down in the right-hand column of any NakedCap page, where many ongoing topics are listed alphabetically, and there are 65 entries under New Zealand.

  6. TC 6
    4 April 2016 at 9:41 am

    If you believe key, turnbull etc didnt know how extensive this is then I have a few bridges to sell.

    Working practical ones not dudes with the first name simon

  7. joe90 7
    4 April 2016 at 9:48 am

    Iceland’s prime minister, Sigmundur Davíð Gunnlaugsson, accused of hiding millions of dollars of investments offshore, walks out of an interview over tax haven questions.

    http://www.theguardian.com/world/video/2016/apr/03/icelands-prime-minister-walks-out-of-interview-over-tax-haven-question-video?CMP=share_btn_tw

  8. joe90 8
    4 April 2016 at 9:51 am

    Lotsa puckering, I reckon

    IAN CAMERON
    Father of David Cameron

    The father of Great Britain’s current Conservative Prime Minister died in 2010, having amassed a fortune in smart investments. According to the documents, “Cameron helped create and develop Blairmore Holdings Inc. in Panama in 1982 and was involved in the investment fund until his 2010 death.” Blairmore was valued at $20 million in 1998 and was promoted to investors in brochures as “not liable to taxation on its income or capital gains.” The promotional literature added that Cameron’s fund “will not be subject to United Kingdom corporation tax or income tax on its profits

    http://fusion.net/story/287227/famous-presidents-shell-companies-trove/

  9. RedLogix 9
    4 April 2016 at 9:57 am

    Combine this with the flood of dubious flight capital out of Asia laundered in the Auckland property market … and it’s hard to avoid thinking Mr Merchant Banker Boy isn’t up to his eyeballs in it somewhere.

    It’s very unlikely that he’s been stupid enough to be involved in any direct manner that would leave a paper trail. He’s too smart and experienced for that. But certainly his history and his actions (or lack thereof) suggest his role has been to enable this mess.

    After all was it not one of his ideas that Auckland should become some sort of ‘finance hub’ of the Asia Pacific world? At the time everyone more or less thought the idea ‘barking mad’, but now we get a glimpse of what he really had in mind.

    • Ad 9.1
      4 April 2016 at 10:03 am

      He can write a whole new Theory K!
      (For anyone who remembers the ’80s)

    • AmaKiwi 9.2
      4 April 2016 at 8:13 pm

      There is ALWAYS a paper/digital trail in today’s world.

      The only way to avoid it is to hold cash (folding money), gems, gold, etc. and bury it in your garden. These millions of dollars are nothing more than computer entries.

  10. The Gormless Fool formerly known as Oleolebiscuitbarrell 10
    4 April 2016 at 10:10 am

    Just weeks earlier, Muscat’s chief-of-staff, Keith Schembri, and Malta’s energy minister, Konrad Mizzi, had used New Zealand’s secrecy laws to set up two offshore trusts.

    What secrecy laws?

    We calling for the repeal of the Privacy Act?

    • Anno1701 10.1
      4 April 2016 at 12:34 pm

      “We calling for the repeal of the Privacy Act?”

      doesnt apply “offshore”….

    • adam 10.2
      4 April 2016 at 7:47 pm

      Hell yeah. Lets come up with something new, as it obvious they only there to protect business on the dodge.

      Because if you missed the memo The Gormless Fool formerly known as Oleolebiscuitbarrell, we are being spied on.

      You are probably being spied on for responding to me, or Bill, or Colonial Viper, or weka just to name a few.

    • AmaKiwi 10.3
      4 April 2016 at 8:20 pm

      “What secrecy laws?”

      Do a Google search, “NZ tax haven.” It’s very simple to understand.

      This has nothing to do with the Privacy Act, which has already been rendered worthless by Key allowing the SIS and GCSB to have any information they want from any source without a warrant and without telling anyone they have copied the information.

      This is about foreigners, NON-residents, setting up trusts which the IRD cannot monitor. The Privacy Act is about screwing us residents. This about non-residents screwing their home countries.

  11. Bearded Git 11
    4 April 2016 at 10:17 am

    I think I would search the 11 million documents for “John Phillip Key”.

  12. Murray Simmonds 12
    4 April 2016 at 10:36 am

    This could get very, VERY interesting.

    Time to sell all my shares in Teflon Coatings inc, I think.

  13. Chooky 13
    4 April 2016 at 10:47 am

    could be a reason why Nicky Hager’s computers were seized?….to find out what he knew and had on them?…

    …certainly shows why we need investigative journalists!…and why they must be protected from the police harrassment and state persecution and state corruption

    • The Gormless Fool formerly known as Oleolebiscuitbarrell 13.1
      4 April 2016 at 11:03 am

      I love connecting dots.

      Did you know that the woman who cleans John Key’s house is Panamanian? Coincidence? Her husband’s favourite footballer is Lionel Messi, a Mossack Fonseca client. Coincidence? Messi plays for Barcelona. Legend says that Barcelona was founded by Hercules, a Greek.

      Boom!

      • Molly 13.1.1
        4 April 2016 at 11:46 am

        Nicky Hager has been working on international tax havens for a few years now, as part of the ICIJ journalistic team. This is common knowledge, and ICIJ has broken the story.

        Given that the Herald is just reprinting Washington Post articles, this NZ link is not highlighted. But it is relevant for us here in NZ, knowing the recent debacle around Nicky Hager’s illegal computer data seizure by the police.

        • Chooky 13.1.1.1
          4 April 2016 at 12:40 pm

          +100….so I was correct!….thanks Molly for that valuable link!…worth going through the names of the incredible and brave international journalists …Hager is definitely there!

          …maybe the police and this government have more questions to answer as regards the persecution of Nicky Hager!

          ….cover up of NZ government and politician corruption?

          • rhinocrates 13.1.1.1.1
            4 April 2016 at 8:06 pm

            This from Giovanni Tiso:

            “Do you remember? Foreign tax havens was also the thing Odgers minded Hager investigating and hoped he would be chop-chopped for by Russians.”

            Screechy McHooton’s been commenting again… funny that he’s not on this thread enlightening us, since he’s such a good friend of Odgers and has discussed this very issue with her.

      • North 13.1.2
        4 April 2016 at 4:28 pm

        Spontaneous boom in your head stale biscuit. I wonder if we’ll see Little Churchill suddenly up and resigning ?

      • adam 13.1.3
        4 April 2016 at 10:26 pm

        The Gormless Fool formerly known as Oleolebiscuitbarrell – Bro – crack pipe – put it down and walk away.

        Sheesh not been a good week man, it just not been a good few weeks, for your Tory idiots.

  14. Chooky 14
    4 April 2016 at 10:53 am

    regarding corruption and theft of the state by corporations this is very interesting ( posted yesterday by CV on Open Mike)

    https://www.rt.com/shows/keiser-report/338108-episode-max-keiser-896/

    …In the second half, Max interviews Kerry-Anne Mendoza of TheCanary.co …

  15. Colonial Viper 15
    4 April 2016 at 10:56 am

    Taxes are only for you poor waged and salaried working saps, and for Kiwi small businesses struggling to get by month to month.

    Not for the 0.1% who can afford the best accountants and private wealth bankers in town.

  16. Whispering Kate 16
    4 April 2016 at 11:07 am

    Big question, who is the leaker?? Its a huge leak so I hope he/she is keeping themselves safe, they will be hunted to the furthest corners of the planet by protectors of the 1% . No wonder the PM keeps widening the security powers here. It gets murkier by the minute.

    • Sabine 16.1
      4 April 2016 at 11:54 am

      they mention the whistleblower here…..apparently did not ask for money or favors

      a good run down on events, who is implicated etc.

      from the Sueddeutsche Zeitung, maybe one of the most prestigious Newspapers in Germany.
      http://panamapapers.sueddeutsche.de/en/

    • Colonial Viper 16.2
      4 April 2016 at 12:30 pm

      Technically, the 1% are the professional enablers, advisors and senior managers who act to protect the wealthy power elite – the 0.01%.

      • aerobubble 16.2.1
        4 April 2016 at 1:07 pm

        But wait a moment. JUst think about it. You mean the richest people would rather hire people to keep them rich by avoiding paying tax, and not hire people to make them richer. i.e funding progressive capitalism over conservative capitalism. So under investment, social infrastruture, all now require taxation and those who ovid paying are being target whereas those who like Buffett invedt in great managers are not worried.

        Its like Trump, rich Americians have built this right wing republician machine, all geared to make it harder to elect progressives, and then they wonder why progressives get leaner and meaner. i.e Social conservative would be better served by those that hold the line rather those who stop progressive einevitable.

        Trump is just exposing the corrupt Republician processes.

    • Mosa 16.3
      5 April 2016 at 1:18 pm

      The leaking of information seems the only way we can find out what is being hidden or supressed by this government
      How sad is that!!

  17. Chooky 17
    4 April 2016 at 11:16 am

    Good report from Kathryn Ryan on RNZ

    ‘New Zealand’s role in massive tax haven leak’

    http://www.radionz.co.nz/national/programmes/ninetonoon/audio/201795645/new-zealand's-role-in-massive-tax-haven-leak

    “Millions of documents from a Panamanian law firm show how the world’s rich and famous, including world leaders, hide their money offshore – including setting up foreign trusts in New Zealand to avoid paying tax. The papers reveal the Maltese Energy Minister Konrad Mizzi, and the Prime Minister’s Chief of Staff, Keith Schembri, have set up trusts in New Zealand which under our laws do not have to pay any tax on their Panama income. The revelations have caused a political storm in Malta. Nine to Noon speaks to Malta Independent columnist Daphne Caruana Galizia. Professor Craig Elliffe from Auckland University’s business school explains how New Zealand laws have allowed people overseas to use local companies to avoid paying tax.”

  18. Murray Simmonds 18
    4 April 2016 at 11:19 am

    Note however, that THE USA is now the tax haven of choice:

    http://www.bloomberg.com/news/articles/2016-01-27/the-world-s-favorite-new-tax-haven-is-the-united-states

    So that’s why you won’t find many American tax-dodgers in the newly released leak. Why bother with offshore havens when there are better havens in the USA already?

    Try connecting those dots, folks.

    • joe90 18.1
      4 April 2016 at 12:04 pm

      This too.

      But one country has been absent from the discussion: the United States of America. No American politicians have been named (yet) in the leak. Is this because, to paraphrase media critic Adam Johnson, American politicians are “pure and good and incorruptible?”

      Unlikely. What’s more probable is that US- Panamanian relations over the 39 years that MF has existed have contributed to a culture where Americans do not feel comfortable storing their ill-gotten gains in the Central American country.

      http://eoinhiggins.com/no-us-names-in-panama-papers-leak-why-not/

    • AmaKiwi 18.2
      4 April 2016 at 8:27 pm

      One of the best US tax haven states is Delaware, a tiny state virtually owned by the DuPont family. Can you think of any famous Americans from Delaware?

      Joe Biden, Vice President Biden to you.

      Wyoming is another thinly populated but very popular US tax haven state. Famous Americans from Wyoming? Dick Cheney.

      Third on our list of US tax haven states is Nevada, the state the Mob built.

  19. One Two 19
    4 April 2016 at 11:27 am

    ‘The Opal files’ are decades old

  20. Molly 20
    4 April 2016 at 11:35 am

    Nicky Hager has been working on this for a while now. As Chooky mentions above, does add another layer to the issue of his computers being seized.

    But I think his name should be mentioned in any article that references the work that ICIJ has been doing in this area.

  21. Michael Smythe 21
    4 April 2016 at 12:26 pm

    Is this what John Key was really meaning when he said New Zealand could become the Switzerland of The South?
    http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11611816

  22. Anno1701 22
    4 April 2016 at 12:32 pm

    New Zealand is one of the easiest places in the world to get a banking license or form an Offshore Finance Company , ESPECIALLY if its an “offshore” one..

    http://www.stuff.co.nz/business/industries/69220090/ICBC-New-Zealand-breaches-conditions-of-bank-registration-again

    http://www.interest.co.nz/news/60461/entities-peddling-unregulated-nz-offshore-finance-companies-world-tout-their-benefits-and

    “The organization of this program provides you an online bank, that is based in New Zealand. Your OFC can provide commercial and private banking services with very little or no restrictions to a worldwide customer base. Your New Zealand company can offer the same services as any fully licensed bank, however the word “bank” cannot be used in the entity name, alternatives such as “Credit Union” and/or “Savings & Loan” are often used”

    http://www.offshorecorporation.com/newzealandofc

    “Your New Zealand company can offer the same services as any fully licensed bank, however the word “bank” cannot be used in the entity name” how sketch does this part sound !

  23. Chooky 23
    4 April 2016 at 12:33 pm

    so they persecute and stop poor young New Zealand university students who havent paid their university loans and interest on their student loans at the boarder

    ….but not the wealthy international tax evaders

    …hypocrisy MUCH!

  24. joe90 24
    4 April 2016 at 2:10 pm

    Craig Murray poops the party.

    Unfortunately the leaker has made the dreadful mistake of turning to the western corporate media to publicise the results. In consequence the first major story, published today by the Guardian, is all about Vladimir Putin and a cellist on the fiddle. As it happens I believe the story and have no doubt Putin is bent.

    But why focus on Russia? Russian wealth is only a tiny minority of the money hidden away with the aid of Mossack Fonseca. In fact, it soon becomes obvious that the selective reporting is going to stink.

    […]

    Expect hits at Russia, Iran and Syria and some tiny “balancing” western country like Iceland. A superannuated UK peer or two will be sacrificed – someone already with dementia.

    The corporate media – the Guardian and BBC in the UK – have exclusive access to the database which you and I cannot see. They are protecting themselves from even seeing western corporations’ sensitive information by only looking at those documents which are brought up by specific searches such as UN sanctions busters. Never forget the Guardian smashed its copies of the Snowden files on the instruction of MI6.

    https://www.craigmurray.org.uk/archives/2016/04/corporate-media-gatekeepers-protect-western-1-from-panama-leak/

    • maui 24.1
      4 April 2016 at 8:22 pm

      +1, I saw it on the news and thought it was funny that we got to see Putin painted as the devil again – like we always do by the likes of the BBC and our own media that regurgitates it. Meanwhile thousands of rich, influential westerners walk free so far.

      • miravox 24.1.1
        4 April 2016 at 9:11 pm

        ” thought it was funny that we got to see Putin painted as the devil again”

        I just thought the biggest headline went to the biggest fish that has been caught out. Happened to be Putin (I’m not saying there wouldn’t have been a bit of glee expressed at that). On The Guardian front page there are specific, smaller headlines for Iceland, Hong Kong and FIFA.

        I guess the next few days will show if that headline was bias when we see the level of attention that gets paid to the likes of David Cameron’s dad.

        Not that I like linking to it, but the Daily Mail has a headline with a much more diverse selection of those caught in the net

        • Colonial Viper 24.1.1.1
          5 April 2016 at 12:53 am

          The Guardian hit on Putin was a classic though. Putin is connected to some old friends who are connected to some old friends who are connected to people who move a lot of money around tax havens, shell companies and nominee directors.

          Regardless, I have no doubt that Putin has pocketed a lot of wealth on the way up the ladder, and that he has kept himself in power by spreading that wealth around a core group of Moscow players, enabling his ‘team’ to go toe to toe pressuring Russian oligarchs, corporations etc.

          • miravox 24.1.1.1.1
            5 April 2016 at 1:25 am

            Putin does make it quite easy to hit – maybe because of those friends and networks you mention. Also possibly because he knows how to play the popularity game back home. He can manage the fall-out so maybe isn’t as careful as he could be.

            The Cameron Sr stuff is out, the story reads like it has had the lawyers all over it. It seems Cameron Jr was a bit risk averse so he should survive this.

            I’m especially enjoying the Ukraine story – because it involves the NATO-backed leader, and also because of a bit of a ‘where have I heard this before moment?’ The excuses and methods sound much like Whitechapel/Aldgate trusts – which of course, won’t be caught up in this leak because USians don’t use Panamanian financial and legal services.

            • Colonial Viper 24.1.1.1.1.1
              5 April 2016 at 1:31 am

              Poor old Ukraine is the meat in the sandwich. Russia wants Ukranian politicians in charge who have been bought by the Kremlin. NATO wants Ukranian politicians in charge who have been bought by the USA.

              The actual Ukranian people – no one cares about them. Especially not their political “leadership.”

              • miravox …
                5 April 2016 at 1:37 am

                A heartfelt ‘yes’ to that one.

                I’ve met a few people here who have escaped that quagmire. There are parallels with Poland last century, I think.

  25. katipo 25
    4 April 2016 at 3:29 pm

    Typical internal memo for the 1%’s spin doctors & PR companies : Due to recent increased workflows..
    1. “All new staff leave applications will be placed on hold until further notice.”
    2. “Next weeks team building exercise has been cancelled.”
    3. “We will be using Davids office for recruitment interviews over the following weeks”

  26. NZJester 26
    4 April 2016 at 4:07 pm

    They do pay a sort of tax in New Zealand but not to the New Zealand tax coffers, they pay it to their sponsor The National Party via anonymous donation and cabinet club dinners.
    Just look at how much the National party receives yearly in Anonymous donations.
    If the anonymous donations loopholes got fixed the tax loopholes would also be fixed very quickly.

  27. Penny Bright 27
    4 April 2016 at 4:15 pm

    What role has NZ Prime Minister John Key played in New Zealand’s new international status as ‘the quiet tax haven achiever’?

    How much has New Zealand’s perceived status as the (now) fourth ‘least corrupt country in the world’ helped in achieving our new international status as ‘the quiet tax haven achiever’ ?

    How many ‘politically exposed persons’ from NZ may be ‘politically exposed’ in this massive ‘whistle-blowing’ leak?
    ______________________________________________________

    The Panama papers: NZ – the quiet tax haven achiever

    What are the Panama Papers?
    by Neil Chenoweth

    When New Zealand Prime Minister John Key flew into Malta for the Commonwealth Heads of Government Meeting in November 2015, he already knew he shared some important views with his host, Malta’s Prime Minister Joseph Muscat, about the importance of keeping the tax secrets of foreign investors.

    Both countries are quiet achievers in the ranks of global tax havens, and both are determined to keep it that way.

    While Malta has been fiercely resisting pressure to close tax avoidance loopholes used by foreign companies, including Australian firms, to move profits out of the European Union, New Zealand has fought just as hard to protect its laws that make foreign profits tax-free and invisible for beneficiaries of its offshore trusts.

    But what Key didn’t know, as he and Australia’s Prime Minister Malcolm Turnbull mingled with Muscat at CHOGM, was how deep those links really ran.

    4 Corners: The Secrets of the Super Rich

    Just weeks earlier, Muscat’s chief-of-staff, Keith Schembri, and Malta’s energy minister, Konrad Mizzi, had used New Zealand’s secrecy laws to set up two offshore trusts. These were to be linked to a secret Dubai bank account and to two Panama companies that Schembri and Mizzi had set up in 2013 through a Panamanian law firm.

    The revelation of the New Zealand trusts has triggered ongoing crisis for Muscat’s government, but it also increases pressure on New Zealand to tighten its tax loophole for foreign trusts.

    New Zealand’s 12,000-plus offshore trusts pay no New Zealand tax on foreign earnings. Their beneficiaries are not registered and their accounts are not filed with any public body. New Zealand regulators may demand this information, but it is not disclosed to foreign governments.

    Details of the Malta controversy, and its New Zealand connections, have emerged from 11.5 million tax haven records obtained by the International Consortium of Investigative Journalists (ICIJ), the German newspaper Süddeutsche Zeitung and more than 100 other media partners worldwide.
    …..
    ___________________________________

    Penny Bright
    2016 Auckland Mayoral candidate.

  28. Richard@Down South 28
    4 April 2016 at 5:26 pm

    I wonder if NZ will step up…

    http://www.bbc.com/news/business-35957178

    “The Australian Tax Office (ATO) is investigating more than 800 individual taxpayers, all residents of Australia.

    They have been identified as high net wealth clients of a law firm in Panama. “

  29. DaiViet 29
    4 April 2016 at 6:56 pm

    How ironical that banks in New Zealand had to spend millions of dollars to implement processes to comply with the Anti Money Laundering and Financing Terrorism Act, while our Prime Minister is stealing the money from the tax payers with impunity.

  30. UncookedSelachimorpha 30
    4 April 2016 at 7:54 pm

    This is a huge and important story. I expect FJK and Hoskers will be super relaxed about this.

    Amazingly (or perhaps, not so amazingly), no stories at all on the Stuffed website homepage about this at the moment! The NZ Herald has a few stories, to their credit.

  31. Gristle 31
    4 April 2016 at 8:24 pm

    Mr Key has spun the story that a recent OECD review of the NZ tax system gave it a clean bill of health. So in reality there is no story here, and if there was a story it would be about what a wonderful job he has been doing.

    Funny that in the second page of that 2014 report that Foriegn Owned Trusts is raised as an issue that affects the NZ tax base and is recommended by the OECD that these should be sorted out.

    Do reporters not even bother to check out these type claims.

    • logie97 31.1
      4 April 2016 at 10:21 pm

      … yep, because Jokey Hen has assured us that there is nothing to worry about, then we needn’t. Would be interesting to know how many of the sycophantic Nat supporters would buy a car from the prick. Bet if you were to ask them, they would feel they had to answer yes but with fingers/legs and everything else crossed.
      Can see this one becoming another to add to BLIP’s list before long.

  32. linda 32
    4 April 2016 at 8:54 pm

    sounds like national are in this donkey deep key didn’t seen to want answer quiestions do think the prick is involved

  33. Macro 33
    4 April 2016 at 9:02 pm

    “NZ Tax Haven Inc – of the 0.01%, by the 0.01%, for the 0.01%”

    FIFY

    Only the seriously uber rich need apply.

    Johnny’s not interested in anyone else.

  34. pat 34
    4 April 2016 at 10:25 pm

    Key lies again…

    “New Zealand’s prime minister, John Key, has defended his government’s tax record after the Panama Papers showed links to the country connected to alleged offshore trusts set up by Maltese politicians and officials via New Zealand. Key told reporters:

    “New Zealand has had the same tax laws when it comes to trusts since 1988, they were reviewed by the OECD in 2013 and they gave New Zealand a clean bill of health. We also have extensive disclosure regimes and we are signatories to a network of treaties.”

    http://www.theguardian.com/news/live/2016/apr/04/panama-papers-global-reaction-to-huge-leak-of-offshore-tax-files-live

    “Foreign investors in a New Zealand fund with only foreign investments will now bear no New Zealand tax on their income, whether or not the fund distributes that income. The tax change, which came into force in September 2011, should make New Zealand managed funds an attractive alternative to funds resident in Luxembourg, Ireland or the Caymans.”

    http://www.chapmantripp.com/publications/Pages/New-Zealand-now-an-attractive-tax-location.aspx

  35. Draco T Bastard 35
    4 April 2016 at 10:25 pm

    Corporate Media Gatekeepers Protect Western 1% From Panama Leak

    The Suddeutsche Zeitung, which received the leak, gives a detailed explanation of the methodology the corporate media used to search the files. The main search they have done is for names associated with breaking UN sanctions regimes. The Guardian reports this too and helpfully lists those countries as Zimbabwe, North Korea, Russia and Syria. The filtering of this Mossack Fonseca information by the corporate media follows a direct western governmental agenda. There is no mention at all of use of Mossack Fonseca by massive western corporations or western billionaires – the main customers. And the Guardian is quick to reassure that “much of the leaked material will remain private.”

    You know how Kiwiblog and other RWNJ media outlets have been harping on about how much tax the rich pay. Well, now you know why. It’s because they’re still not paying the amount that they should be.

  36. Chooky 36
    4 April 2016 at 10:37 pm

    This is interesting …a backgrounder on the firm Mossack Fonseca…that begun it all …and what it really is about in the Panama Papers

    ‘PANAMA PAPERS: MOSSACK FONSECA TIED TO NAZIS, CIA & MEXICAN DRUG LORDS’

    http://geopolitics.co/2016/04/04/panama-papers-mossack-fonseca-tied-to-nazis-cia-mexican-drug-lords/

    …” this is not a story about which super wealthy individuals did everything in their power, both legal and illegal, to avoid taxes, preserve their financial anonymity, and generally preserve their wealth. After all, that’s what they do, and it should not come as a surprise that they will always do that, especially following last year’s disclosure by the same ICIJ which revealed a list of 100,000 HSBC clients who had been dutifully avoiding the payment of taxes.

    What the story is about is the nebulous world of offshore tax evasion and tax havens, which based on data from the World Bank, IMF, UN, and central banks, hide between $21 and $32 trillion, where registered incorporation agents and law firms in small Caribbean countries (and not so small US states) make the laundering of money and the “disappearance” of the super wealthy, into untracable numbers hidden behind shell companies, possible…”

    ( Helena pointed this paper out on the Daily Blog
    http://thedailyblog.co.nz/2016/04/04/the-mossack-fonseca-papers-key-has-built-nz-into-a-tax-haven/ )

  37. Penny Bright 37
    4 April 2016 at 10:38 pm

    Is New Zealand a tax haven?

    If it walks like a duck, talks like a duck .. ?

    Seen this?

    http://www.taxhavens.biz/other_tax_havens/tax_haven_new_zealand/

    Tax Haven New Zealand
    Home / Other Tax Havens / Tax Haven New Zealand

    New Zealand is located in the Pacific Ocean on the southeast coast of Australia. The population of New Zealand is approximately 4.3 million people. Over the years New Zealand has developed into a country which helps clients tax advantage of international tax planning. New Zealand has a very well developed economy. The country depends mainly on free trade with its main export industries being agriculture, forestry and fishing. Tourism also makes a significant contribution to ht economy of the island nation.

    Although New Zealand is said not to be a tax haven there are certain features which make people associate the jurisdiction with tax havens. The fact that the country has offshore services which includes offshore business entities and offshore trust formation tend to qualify New Zealand as a tax haven.

    As a tax haven New Zealand has a business structure in place which allows clients to save on corporate and income taxes which are levied on corporations. The New Zealand limited partnership company can be structured to operate as an offshore business entity. An offshore corporation incorporated in New Zealand pays no local taxes if all its earnings are accumulated outside of the country. A New Zealand need not have partners who are citizens of the country.

    New Zealand as a tax haven has certain laws which in common with some of the world top tax havens. For example the names and information of the limited partners in a limited partnership is not made public hence providing privacy for these individuals. Privacy is one of the basic characteristics of every tax haven. The Limited Partnership act of New Zealand does not obligate limited partnership companies to file annual audits with the tax authority in the tax haven. The laws obligate the limited partnership top prepare its audits but they do not have to be made public information.

    In the jurisdiction of New Zealand a Special Purpose Company can be formed which can be structured to operate as an offshore company. A New Zealand is a company which acts as a trustee for a non resident New Zealand Company. This type of company will pay no taxes on income gained outside of the jurisdiction. A New Zealand Company is free to operate bank accounts and do business anywhere in the world.

    Another entity commonly found in tax haven and also available in New Zealand is a New Zealand offshore trust company. The jurisdiction of New Zealand has a very good reputation for having a very good economy and political stability. This makes the country one of the best offshore jurisdictions to own an offshore trust in. The New Zealand offshore trust was first introduced in 1988 and is widely used as offshore vehicles. There are many benefits to opening an offshore trust in New Zealand. Offshore trusts are not taxed on income earned outside of the country.

    To the residents of many of the worlds more developed countries New Zealand may seem to be a tax haven for the simple reason that the jurisdiction has very low tax rate compared to other countries of the world. The government authorities in the jurisdiction have lowered the corporate tax rate from 33% to 30% increasing the country’s ability to competitive with other countries. The low corporate tax rate in New Zealand makes the country very attractive to business investors. Non residents of New Zealand mat find their taxation system very appealing. Non residents to the country pay no taxes on foreign sourced income. These persons will only pay taxes on income earned in New Zealand.

    New Zealand as a tax haven has no capital gains tax for both individual and corporations. In addition the country has signed double tax treaties with many countries including Australia, the United States of America, Canada, Singapore, Austria, South Africa, China, France and many other nations. What this does is remove many tax impediments and prevents investors from paying double tax.

    As a tax haven New Zealand also offers offshore banking for corporations and individuals. Though not very popular New Zealand offshore banking has banking secrecy laws in place to protect the information which is regarded as private in offshore bank accounts in the tax haven.

    New Zealand is one of the safest places to consider when investing abroad. The country has stable political and economical systems. The jurisdiction although it offers offshore services and advantages has not been targeted or black listed as a harmful tax haven. The laws which govern offshore entities in New Zealand are very modern and are up to par with its more developed offshore counterparts. The assets placed in New Zealand offshore entities are well protect by New Zealand laws. The tax haven of New Zealand is very helpful for persons who are considering reducing their tax liabilities.

    ……
    __________________________________________________

    Penny Bright
    ‘Anti-corruption Public Watchdog’
    2016 Auckland Mayoral candidate

  38. TheBlackKitten 38
    5 April 2016 at 7:52 am

    I hate to be the one that puts the cat amoungst the pigeons but how long have these tax loopholes been open for and how long have these foreign companies been taking advantage of our tax loopholes. My question is was it going on pre 2008?

    • pat 38.1
      5 April 2016 at 7:54 am

      In NZ since 2011 when the rules around non resident trusts were changed

      • miravox 38.1.1
        5 April 2016 at 8:03 am

        I’m wondering if the ease of registering a company in NZ part of the attraction as well?

        • Chooky 38.1.1.1
          5 April 2016 at 9:00 am

          not so much the “ease”….as the “secrecy” as to who is behind these international companies and whether they are morally and legally legitimate

  39. Sabine 39
    5 April 2016 at 8:59 am

    Wikileaks Poll on Panama Papers

    https://twitter.com/wikileaks/status/716772373408718849

    those that have a twitter account might want to participate 🙂

  40. Claire 40
    6 April 2016 at 4:41 pm

    Leaders were elected who had close ties to the corrupt US monetary system after Enron, sub prime went down. These guys were sent to lead countries and sign them up to FTD’s therefore becoming embedded and colonised by corporate pay back. The poor never really have a debt crisis because they live in one. They can only go up. However we only hear of economic problems when the 1% gamble all their money and loose. These tax havens are really our investments that went down in these market crashes. where was the Madoff billions secreted?

  41. webbrowan 41
    6 April 2016 at 4:57 pm

    Investigative journalism has brought the Panama Papers to light. It took a year for these journalists to hide important documents and finances of the rich personalities. This is by far the biggest ‘leak’ of sensitive and confidential information after Edward Snowden’s. It has implicated not only the business people, but dictators, sportspeople, celebrities, etc who are avoiding people snooping around their so-called ‘riches’. There will be some information made known publicly; while there will be some that will be ‘by-request’. I can’t wait for this saga to unfold.

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

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

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

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

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

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

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

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

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

  • Climate Change: Criminal ecocide
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    No Right TurnBy Idiot/Savant
    3 days ago

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

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

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

  • What is Mexico doing about climate change?
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    Skeptical Science
    3 days ago

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

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

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

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

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

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

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

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

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

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

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

    Gareth’s WorldBy admin
    5 days ago

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

  • Removing red tape to help early learners thrive
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    BeehiveBy beehive.govt.nz
    3 days ago

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

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

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

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

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

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

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

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

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

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

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

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

  • Navigating an unstable global environment
    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 ...
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    1 week 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
    1 week 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
    1 week 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
    1 week 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
    1 week 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
    1 week 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 ...
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    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

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