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One day older and deeper in debt

Written By: - Date published: 7:15 am, March 21st, 2013 - 103 comments
Categories: debt / deficit, exports, jobs, monetary policy, overseas investment - Tags:

There’s this almost puritan kind of myth that we’ve got so much international debt as punishment for our spendthrift ways. We ‘live beyond our means’, apparently. But it’s not true. If ‘our means’ is the money we make in exports, then most of the time, they exceed what we spend on imports. Yet, we run a $10 billion deficit as a country. Why? Because of the profit outflow.

We hear about the current account deficit all the time and most of us conflate it with the trade balance (ie exports minus imports) but the trade balance is just one part of the current account deficit – the other big part is the income balance. That’s how much overseas investors make in profits on the debt Kiwis owe them and the assets they own in New Zealand minus the profits New Zealanders’ loans and investments overseas make.

The trade balance is usually in surplus – we export more than we import (although not at the moment). It’s this second part – the income balance – that causes the current account deficit to be so massive.

Here’s the latest figures, breaking down how we racked up $10.5 billion in deficit last year:

current account balance 2012

As you can see, we exported more goods than we imported, imported more goods than we exported and ended up with a small trade deficit. But that’s dwarfed by the nearly $10 billion that was the net outflow of dividends and interest (the ‘current transfers’ is overseas aid, other donations, remittances, and people taking their money with them when they leave the country).

The irony is that to fund the deficit we have to borrow more from overseas or sell our assets to foreigners. And that just means a greater outflow of profits the next year. On and on, worse and worse each  year.

Now, let’s go right back and look from the start of the neoliberal era to the present. Remembering that for quarter of a century, the Right has blamed our international debts on us ‘living beyond our means’.

current account balance 1987 to 2012

We’ve actually exported $17 billion more worth of stuff in the last 25 years than we’ve imported. But it’s a pittance compared to the net $189 billion we’ve sent offshore in interest and dividends. That $163 billion figure at the end – allowing for currency fluctuations and asset value changes – that’s pretty much the net $150 billion that we owe the rest of the world in the form of debt and overseas ownership of New Zealand assets.

You can see the cycle, we borrow from overseas or let foreigners buy our assets, then we have to pay them interest and dividends, and we pay for those by selling more assets or taking on more debt… and so on.

Now, part of the solution is exporting more and importing less – that’s half of why we need a lower dollar, the other half is to create and protect Kiwi jobs.

Other steps to improve the trade balance include government favouring Kiwi businesses for big contracts (note National sent the rail rolling stock, Novopay, ultrafast broadband cable, and Mighty River website contracts overseas), investing in R&D, and importing less oil – the rising cost of crude means that we spend $8 billion importing the same amount of oil that cost us half as much in 2005.

But more important is reducing or at least stemming the growth of our debt pile with the rest of the world.

Start by looking at the banks. The foreign banks are the biggest owners of New Zealand debt and the biggest cause of the balance on income deficit. They make their money by inflating our housing market. Bring in rules to stop the foreign banks lending so much money into the housing market and not only will you make housing more affordable, you’ll reduce our current account deficit and international debt.

The next biggest source of international debt is foreign ownership of New Zealand assets. Although smaller than our debt via the banks, the rate of return is higher for the foreigner investors. Tackle this by preventing foreign ownership of strategic assets, by not selling our public assets, by putting in rules about overseas landlords for residential property and generally insuring that foreign investment is real investment in new capital wealth – not just buying what we already have.

(The other sector of foreign debt is the government sector – actually, we usually lend more to the rest of the world than we borrow thanks to the Reserve Banks big overseas reserves, but that’s gone negative under National, too).

If we don’t do something, if we keep on just letting foreign capital buy up more of New Zealand and pay for the pleasure by sending a larger and larger share of our GDP overseas each year, then our net international debt is forecast to grow from an eye-watering $150 billion this year to a disastrous $200 billion in four years.

Where does that road end? It ends when our debt pile gets so big that our overseas creditors fear we won’t be able to make our payments and they stampede for the exits – our businesses are suddenly left high and dry unable to get refinancing, the government has to pay much higher interest rates on its debt, and the currency suddenly plunges sending shockwaves through the economy.

Better to manage things and avoid hitting the wall like Greece did, by using the kind of policies I’ve mentioned above. Of course, those are the policies that the Greens, Labour, NZF, and Mana espouse, and which National has rejected in favour of sticking its head in the sand and letting the wealth flow out of our country at the rate of $10 billion a year.

103 comments on “One day older and deeper in debt”

  1. IrishBill 1

    Crikey. I was aware expatriated profits were big (like decent percentage of GDP big) but that’s astounding. On the other hand it’s a simpler policy fix than a massive trade deficit would be.

    • lprent 1.1

      It is freaky… Much of that is just from interest on housing mortgages – pretty unproductive for the country. And easier to contain.

      • Lanthanide 1.1.1

        Government should reduce OCR by 1% and introduce 1% tax on residential mortgages instead. Keep the money in NZ.

        • Draco T Bastard 1.1.1.1

          Nope, the government should stop the private banks from printing money and take over that function themselves. Make loans out to businesses and individuals at 0% and dump the OCR altogether.

          As soon as the government takes the privilege of printing money off of the private banks then we can do something about the economy. Leaving it as is will continue our path to debt slavery.

  2. ad 2

    So how many on this site have Kiwibank accounts?

    • Colonial Viper 2.1

      I used to have a PostBank account until some shit of a government sold it off.

      • SpaceMonkey 2.1.1

        I have my savings (minor) in wholly-owned NZ banks and my borrowing (also minor) with an Australian bank. But my real savings are in physical precious metals – gold and silver. Have been a gold and silver bug since the GFC when I first realised how much of a racket the global financial scam was.

    • every loyal Kiwi should have a kiwibank account. the government should give westpac the flick and use its own(ours actually) bank.

      • Colonial Viper 2.2.1

        Cullen could have done that.

        • Alanz 2.2.1.1

          Looking forward to Shearer doing that.

          I opened my Kiwibank account in the first week it was established. Foundation member, I am, and that is printed on my card.

        • Pete 2.2.1.2

          I imagine there were some rules under the Public Finance Act he had to stick to. Westpac probably made the better offer.

          • Colonial Viper 2.2.1.2.1

            Ah ha. But what was the better offer for the country?

            I imagine there were some rules under the Public Finance Act he had to stick to

            The Westminster powers of a sitting Government come in handy at that point.

      • aj 2.2.2

        Or a Co-operative Bank account
        Or a TSB account
        Or a SBS account
        Or a Credit Union account.

        • Ed 2.2.2.1

          There is also Heartland Bank. I don’t know which of those is wholly New Zealand owned, although I suspect Credit Unions would be. This uncertainty is a good reason to keep Kiwibank wholly owned – it is clear to everyone that it is not putting money in the hands of overseas shareholders..

    • Saccharomyces 2.3

      My home loan is with Kiwibank…… why? Because they gave me the best deal.

      • geoff 2.3.1

        Yeah they give you good deal as long as you at least 20% deposit. Good luck to the average first-home-buyer getting that much money together.

    • lprent 2.4

      Kiwibank? Me personally, this site, our household account, and I think Lyn has at least one because I send stuff there when she pays for my airflights or whatever..

      I also have an account with a ANZ (damnit) for my apartments mortgage. I originally fled to the National bank to escape the irritating and fee ridden clutches of the ANZ many years ago and now they have gobbled me up again. At some stage I will summon the time to move again when and if they irritate me again.

      • Pete 2.4.1

        They got me young. When I was five years old I had a school banking (do they still do that?) account with the post office. Which was a two minute walk from my small suburban school. And then a couple of years later someone closed down that post office and I was given a different passbook – not one with the colourful design of kids flying kites over some blocky city, but a boring grey one that simply said “Postbank”. Then they got bought out by ANZ. By that stage it was too much of a hassle to change banks.

        I do have a Kiwibank account in my name. It was originally a flat account.

      • McFlock 2.4.2

        just when you thought you were out, anz pulled you back in…

        Kiwibank myself.

    • r0b 2.5

      I’m with KiwiBank.

    • karol 2.6

      I have been looking at opening a KB account – sorted out the specific account that suited me – am planning to do it in the next week.

    • Tiresias 2.7

      I’ve banked with KiwiBank since its day one.

      As at today I have something over $150,000 on on-line call, 32-day and 90-day notice accounts there but the week-end’s events in Cyprus have made me seriously consider the wisdom of maintaining so much in one jurisdiction, let alone one bank. Indeed, given the present exchange rate this might be a good time to park some in a US$ account in New York. If it’s good enough for our Great Leader it should be good enough for me.

      • SpaceMonkey 2.7.1

        I wouldn’t go near the US dollar… it’s on a hiding to nowhere. Personally, I maintain as little fiat currency as possible, I invest what I can into gold and silver. If I was to store cash in a non-NZ currency, I’d look for a currency whose central bank is not quantitatively easing it into oblivion.

        • Tiresias 2.7.1.1

          I avoid precious metals – they need a functioning market and if the excrement really hits the fan…

          So my primary investment is a chunk of good land far from the madding crowd from which I supply my own milk, cheese, beef, mutton, lamb, veges, chooks and eggs, with my own spring above the house which was still running before last week-end’s rain, and enough solar power to keep the freezers chilled if nothing else.

          I cook and heat my home and water with wood from the forests around me in which there are deer and pigs and possoms gallore (and rabbits too, alas), gather oysters on the beach nearby and have snapper, blue cod, green-lipped mussels and salmon as short row down the bay.

          Oh yes , and I’ve a rifle for the deer and pigs and a shot-gun for the possums and rabbits, and plenty of ammunition for both.

          There’s supposed to be gold in them thar hills, too, but I’ve never bothered to look for it.

          • SpaceMonkey 2.7.1.1.1

            You are where I would want to be when the SHTF… I’ve always considered land (as opposed to real estate) as the number one investment – provided you can get it without the assistance of a bank and that’s out of reach of most people these days. I like your set up.

            I should qualify that my investment in precious metals is really a hedge, not an investment. Which is why I distinguish the physical from the paper. It is a response to loss of confidence in fiat currency and paper precious metals (especially gold and silver) are being gamed even more than other ETFs – TPTB are desperately trying to keep the illusion going that the US dollar and other QE currencies are actually worth something now.

            I will convert it back when things settle down but if that’s not in my lifetime, I’ll leave a map for my children with an ‘X’ for where I’ve buried my hoard! Lol… :)

            • Tiresias 2.7.1.1.1.1

              I must admit that, just sometimes, it would be really, really nice just to be able to send out for a pizza.

          • North 2.7.1.1.2

            Do you ever Tire’ of the Good Life ?

    • Kevin Welsh 2.8

      Yep, Kiwibank here. Joined the first day as a Foundation Member. Do all my banking through them.

    • The Al1en 2.9

      I have one. I started it when I took out my 100% first time buyer mortgage, and I’d never dream of changing banks… Until the nats privatise it.

    • infused 2.10

      Nope.

      Don’t give me the loyal crap. They need to drop their fees. It’s nice to be able to actually walk in to a bank and deal with issues there and then.

      Also, kiwibank didn’t give me a mortgage, TSB did.

  3. Dem Young Sconies 3

    I’d be happy to see the total of foreign debt & capital nationalised without compensation. The cabal of vulture capitalists shouldn’t be rewarded for their theft.

    • Colonial Viper 3.1

      There’d be an immediate capital strike against NZ. Say bye bye to fuel, pharmaceuticals, farm exports.

      • Dem Young Sconies 3.1.1

        We have plenty of our own oil for fuel.
        We can source generic pharmaceuticals.
        With the stress on the environment, and animal welfare issues, we shouldn’t even be farming ruminants in NZ anyway. We can make do with just supplying the local market, and countries that aren’t controlled the the world bankster elite.

        • tinfoilhat 3.1.1.1

          Look I’m as green as you get, but your post is just silly and delusional……… or are you a RWNJ troll doing a very poor parody post ?

        • Colonial Viper 3.1.1.2

          We can source generic pharmaceuticals.

          Yes NZ can manufacture one or to two dozen of the most commonly used drugs, several of them by violating international patents (hey in for a penny…), but that leaves pharmacy shelves 95% empty.

          • geoff 3.1.1.2.1

            Does this mean you’ve recently changed your tune a bit regarding this, CV?

          • Draco T Bastard 3.1.1.2.2

            Oh, noes, we might have to do some R&D.

            • Colonial Viper 3.1.1.2.2.1

              And what do patients who need their medications daily do for the 5-10 years before that R&D outputs?

              Any other glib solutions?

              • Draco T Bastard

                As I said below, I doubt if we’d actually lose all that you assume we would.

          • geoff 3.1.1.2.3

            No I’m getting you confused with DTB

            • Colonial Viper 3.1.1.2.3.1

              no probs mate

              I think a dramatic “Great Leap Forwards” style exercise is to be avoided for the moment, in favour of a planned, strategic import substitution programme.

      • Draco T Bastard 3.1.2

        That’s ok, we don’t need them.

        Pharmaceuticals we can, and do, make here.
        Fuel, meh – that’s what we have electricity for and we also have our own oil wells. Sure, it’s only 44000 bbl/day rather than the 150000 we use but it’d work out.
        I’m sure the farm exports wouldn’t decrease either – they’d just change destinations.

        I don’t think we’d lose as much connection to the rest of the world as you think we would.

        • geoff 3.1.2.1

          Didn’t Iceland tell the IMF to fuck off? The icelandic bloke that Kim Hill interviewed last week didn’t give the impression that Icelanders were starving in the street. It’s all scaremongering that
          the powers that be use to try and keep nations under control. There’s just no way that business, financial or otherwise, would ignore the trade potential of 4 million westernised consumers.

          Speaking of finance….it looks like the karma might finally be catching up with the likes of Jamie Dimon and J P Morgan. http://www.huffingtonpost.com/lynn-parramore/jamie-dimons-ultra-americ_b_2915429.html

          Bring on the global debt jubilee.

          • Tiresias 3.1.2.1.1

            Sorry but the Iceland-economic-miracle-sans-IMF is fiction. Educate yourself.

            http://icelandicecon.blogspot.fr/2013/01/the-economic-truth-on-iceland.html

            “So there you have it. The cosy picture drawn of the economic miracle of Iceland has serious stains on it. Despite the fact that the economy has, partially, rebounded to its pre-crisis level, the underlying foundations are so termite-infested that the slightest wind could blow the whole economy to kingdom come! That applies especially to the problem of abolishing the capital controls.”

            • Draco T Bastard 3.1.2.1.1.1

              IMF Says Bailouts Iceland-Style Hold Lessons in Crisis Times

              Iceland refused to protect creditors in its banks, which failed in 2008 after their debts bloated to 10 times the size of the economy. The island’s subsequent decision to shield itself from a capital outflow by restricting currency movements allowed the government to ward off a speculative attack, cauterizing the economy’s hemorrhaging. That helped the authorities focus on supporting households and businesses.

              “The fact that Iceland managed to preserve the social welfare system in the face of a very sizeable fiscal consolidation is one of the major achievements under the program and of the Icelandic government,” Zakharova said. The program benefited from “strong implementation, reflecting ownership on the part of the authorities,” she said.

              It seems that the IMF disagrees with, from what I can make out, is a RWNJ think tank.

              • Tiresias

                I’m not denying Iceland did much better for its people than, say, Greece or Argentina, but believing there’s an easy, pain-free way out of such a mess that only punishes the guilty is a delusion.

                • geoff

                  I never said Iceland had a pain-free transition. I was pointing out that they haven’t been shut out of the global economy in the way that say North Korea has been.

                  If anything, Iceland hasn’t gone far enough. What you appear to be advocating for is crony capitalism. It is absolutely possible to punish the guilty more effectively than has been done so dar and it is slowly beginning to occur in the US because it has become politically untenable to ignore the crimes.

                  • Tiresias

                    ” What you appear to be advocating for is crony capitalism.”

                    What on earth have I written that makes you think that?

                • Draco T Bastard

                  I never said there was a pain free way out of the mess that the banksters have left us in but I do believe that we do need to look for a way out and getting rid of foreign owners/investors and telling the banks where to get off is a good start.

                  • Colonial Viper

                    For it to be not wholly disruptive it’ll have to be a decades long project. And they’ll make sure that the government responsible doesn’t survive in power that long.

                    • Draco T Bastard

                      That’s why you put it to referendum. Governments may change, the people won’t.

      • SpaceMonkey 3.1.3

        Worse than that… I suspect the banksters would engineer a coup or a crisis to overthrow the Government. They might have tolerated our anti-nuclear stand but renationalisation of capital would send TPTB into apoplectic fits and see NZ reduced to rubble like Libya or Iraq. All in the name of democracy, of course.

        • Colonial Viper 3.1.3.1

          They got rid of Salvador Allende, Chile. TPTB then installed a neoliberal, banker friendly leader by the name of Augusto Pinochet.

          • Colonial Viper 3.1.3.1.1

            From wikipedia

            Financial conglomerates became major beneficiaries of the liberalized economy and the flood of foreign bank loans. Large foreign banks reinstated the credit cycle, as the Junta saw that the basic state obligations, such as resuming payment of principal and interest installments, were honored. International lending organizations such as the World Bank, the International Monetary Fund, and the Inter-American Development Bank lent vast sums anew.[43] Many foreign multinational corporations such as International Telephone and Telegraph (ITT), Dow Chemical, and Firestone, all expropriated by Allende, returned to Chile

    • Tiresias 3.2

      Or you could make yourself even happier by migrating to North Korea and living the experience of a citizen in an International pariah.

  4. bad12 4

    10 Billion and rising, for the last quarter the current account deficit widened from 2.5 billion to 2.7 billion so on that track it will soon be an annual 11 billion,

    Government ‘contracts out’ some 30 billion dollars of ‘work’ annually, much of this also goes to overseas company’s,

    Labour have said that they will look at all this 30 billion dollars of spending to see which of it can be spent here in New Zealand,

    Obviously we as a country are now tied into being sucked dry like the host of a leech by various international trade agreements so the Government cannot simply proclaim that all it’s spending will favor New Zealand owned and operated companies,

    Such trade agreements tho do not preclude a silent and unspoken bias by any Government toward having it’s contracted ‘work’ carried out only by New Zealand companies,

    Interestingly or not, Chinese buyers of our diary products have at the latest auction pushed the price of milk powders up from 4 thousand dollars a tonne to 5 thousand dollars a tonne thus going some way to ‘saving’ those farmers who have been hard hit from the drought losing up to 20% of production and as an incidental once contracts are settled helping to at least stabilize the current account deficit…

  5. Lan 5

    Why its annoying to hear the Gibbs, Fay, Richwhites etc (tho latter two seem quite quiet these days) making smart remarks about the New Zealand economy that they plundered in the 80s! And now with the energy “companies” government is doing it all again .. not to mention the sale of our best land and housing stock. Nuts.

    • Tim 5.1

      Yea, Messrs Fay and Richwhite are rather amusing. (As in trying to feign horror at Crafar farms potentially going offshore and doing a deal, considering their history).

  6. vto 6

    http://www.youtube.com/watch?v=jIfu2A0ezq0

    I owe my sole to the company store ….

    • Lightly 6.1

      I believe it’s ‘soul’, but in New Zealand’s case, the soles of our shoes is more accurate.

      • vto 6.1.1

        Yes of course, brain wobble… It is also “another day older” not “one day older”.

        16 tons and whadda ya get..

        another day older and deeper in debt..

        Johnny Cash does a good version too. “St Peter don’t you call me ’cause I can’t gooooo ….. I owe my soul to the company storeeeee…”

  7. DH 7

    Good commentary Anthony James but you must be joking when you say Labour have policies to fix it. I’ve yet to see one.

    For what it’s worth some $100billion or so of our overseas debt is owed by the Australian owned banks. We don’t owe it, the banks do. We just owe the banks via mortgages but that’s domestic debt, not foreign debt.

    One of the most effective means of managing away much of that overseas debt is to cut the banks adrift and force them to wind down their capital base paying back their overseas borrowing. We can do that by greatly expanding Kiwibank. It needs a large injection of capital and if the Govt is going to put an SOE on the sharemarket it should be Kiwibank. Not to sell it but to expand it; issue more shares to the NZ public.

    • bad12 7.1

      Australian owned banks??? your kidding are you not, your belief in the ‘fairy tale’ of New Zeland banks being owned by our close mates from Aussie makes me smile,

      As our bnaks are nominally owned by the Australian Banks the Australian Banks are all owned by the bigger fish in the pond namely the International Banking Cartels,

      Mostly you wont find the names of the big US banks on the share registers of those Aussie banks, such shareholdings are all held in Nominee companies and it is the name of the nominee companies which appear on the share register,

      Keeps a hell of a lot of us believing in the ‘fairy tale’…

  8. DH 8

    “Good commentary Anthony…..”

    Damn, where’s the edit function. I meant James, not Anthony…. duh!

  9. Harriet 9

    Someone who is adding to the total wealth of this country is not depriving you of anything.

    But someone who is consuming the nation’s wealth, without contributing anything to it, is.
    Yet our tax system penalizes those who are producing wealth in order to subsidize those who are only consuming it.

    Tax reform is overdue, national debt or no national debt. :cool:

    • Draco T Bastard 9.2

      Someone who is adding to the total wealth of this country is not depriving you of anything.

      Foreign investors aren’t adding anything to this country.

    • Colonial Viper 9.3

      Yet our tax system penalizes those who are producing wealth in order to subsidize those who are only consuming it.

      What do you mean by wealth? Do you mean “money”?

      You do know that all wealth originates from the resources of nature, right?

      • DH 9.3.1

        “What do you mean by wealth? Do you mean “money”?”

        Money is just a medium of exchange; a convenient means of storing value that’s portable. If a nation increases it’s collective wealth then it must follow you’d need more money in circulation to cover it. We’re only in trouble because we’re not increasing wealth, rather inflating the value of assets. Money isn’t the problem, they’ve just allowed too much of it to be created.

        If the Reserve Bank had been told to include asset inflation in their low-inflation targets we probably wouldn’t be in this mess. From a monetarist perspective there’s no difference between consumer inflation and asset inflation. They’re both monetary in origin so it’s a total mystery why they’ve ignored asset inflation.

    • Colonial Viper 9.4

      Tax reform is overdue, national debt or no national debt. :cool:

      Also, do you believe in the provision of a commons of goods for society? And how do you believe that commons of goods be paid for?

    • bad12 9.5

      Harriet, the pathetic ‘contributes’ argument has been round and round so often that i cannot be bothered to raise the arguments with you that show it, (the contributes/doesn’t contribute argument), is a load of bovine defecation,

      Needless to say your argument only holds the slightest bit of credibility where the individual does not contribute over the period of a life-time,(how many million of the New Zealand people do you know in that category,

      You are of course free to pack your s**t and find a country to reside in where the State contributes mostly ZERO to the individual and the individual is solely responsible for their own means of existence,

      Vanuatu springs to mind as the closest destination, Somalia if you hanker for the African sunshine…

  10. Draco T Bastard 10

    The next biggest source of international debt is foreign ownership of New Zealand assets. Although smaller than our debt via the banks, the rate of return is higher for the foreigner investors. Tackle this by preventing foreign ownership of strategic assets, by not selling our public assets, by putting in rules about overseas landlords for residential property and generally insuring that foreign investment is real investment in new capital wealth – not just buying what we already have.

    Don’t need any of that, just need to ban foreign ownership. As your figures show, we don’t need, and have never needed, foreign investment. The people who say we do are lying even if they don’t realise it as we have enough resources (both physical and human) in the country to support ourselves. This is true of every country.

    So, who benefits from investment? The rich of other countries who have so much accumulated money that they can’t invest in their own countries any more as there isn’t enough wealth in that country to absorb the money.

    If we don’t do something, if we keep on just letting foreign capital buy up more of New Zealand and pay for the pleasure by sending a larger and larger share of our GDP overseas each year, then our net international debt is forecast to grow from an eye-watering $150 billion this year to a disastrous $200 billion in four years.

    What you describe here is The Road to Serfdom and it’s the exact opposite of what Hayek said. The road to serfdom isn’t from socialism but from capitalism.

  11. AmaKiwi 11

    For the past 30 years we have NEVER had a year with a positive balance of payments. NEVER. Greece boasts precisely the same record.

    They fiddle while Rome burns (or NZ drowns). 30 years of National AND Labour governments and NONE has taken steps to keep us from serfdom.

    Since the politicians are too timid / compromised / short-sighted to sort it out, it’s time for the people to take back our government. 30 YEARS of inaction!

  12. Peter 12

    “The foreign banks are the biggest owners of New Zealand debt and the biggest cause of the balance on income deficit. They make their money by inflating our housing market.”

    Can someone please explain why they are allowed to?

    Excellent article!

    • Draco T Bastard 12.2

      Can someone please explain why they are allowed to?

      Mostly, as far as I can make out, it’s because people don’t realise that the banks are printing money at such a rate as to cause that inflation. It’s not so much that we’re allowing them to as that we just don’t know that they’re doing it and that they’re doing it only for their own benefit.

  13. ghostrider888 13

    however, according to the sage Joyce, in the Dec quarter, “New Zealanders received record returns from OFFSHORE investments (of which they re-invested locally 7%, from memory)” Well, that IS helpful…

  14. Plan B 14

    So we are left with the idea that somewher out there in the great big world, outside of New Zealand there is a great big chest filled to the brim with New Zealand dollars and that when we want to buy a house, our banks go and get some money out of the chest and lend it to us and that our interest payments have to go offshore to the people who have the chest filled to the brim with New Zealand dollars.
    The funny thing is that we as a country sell nothing in New Zealand dollars, nor can we spend New Zealand dollars outside of New Zealand. In fact there is noone in the world who actually wants New Zealand dollars except us.
    So there is no chest filled with New Zealand dollars at all is there.
    All we have is banks running a scam whereby when they type the loan into existence on a computer they pretend that the money is owed to someone in another country. It sounds so silly that no one would believe it so they don’t. Trouble is it is basically a true story

  15. infused 15

    “Bring in rules to stop the foreign banks lending so much money into the housing market and not only will you make housing more affordable, you’ll reduce our current account deficit and international debt.”

    How would housing become more affordable?

  16. prism 16

    James
    This is good stuff. But I don’t understand one part under a small table.
    “As you can see, we exported more goods than we imported, imported more goods than we exported and ended up with a small trade deficit. ”

    It appears from the table that we imported more services than we exported and…. Is this correct?

    I

    • prism 16.1

      I wonder if my question can be addressed?   Possibly there are some other confused people out there besides myself.  Or do you have to be one of the favoured to get a  response?

  17. prism 17

    Now we’re told that our banks can, if they foul up too much, take a portion of our savings and we are told that the answer to our country’s woes is to save more! Government here not content with facilitating dodgy financial businesses that in going bust have destroyed good people’s lifetime accretion of savings, the government now introduces a new tax and almost justifies the saying that “All tax is theft”.

    Our own Reserve Bank thinks it is right to take what are privately owned cash assets and give them to the business we are dealing with. And now we are told that it all underlines another verity, that there is no such thing as a safe investment. As the whole deal is man-made why isn’t there action to ensure reasonable safeguards?

    • Colonial Viper 17.1

      So if the highly paid bank CEOs and boards fuck up and lose a tonne of money in the markets, we the savers get to bail them out.

      Yeah that sounds fair.

      • Tiresias 17.1.1

        Yeah, fair like an understanding that we’ll tolerate muggers as long as they only take 10% of the money in our wallets, but if we start objecting they’ll take it all.

        • prism 17.1.1.1

          Tiresias
          Well Terry Pratchett wrote that into his Discworld story of Ankh-Morpork.  The Patrician set up a guild to control the unfortunate habits that we have. so there is one for thieves, and there is one for killings, each with their own set of proscriptions, rules and expectations.   This business with the OBR or whatever it’s called is sort of similar.   An attempt to codify the customary practices really.  Fact over-ruling fiction eh!

    • Colonial Viper 17.2

      Anat Admati’s new book “The Bankers New Clothes” focusses on these issues exactly.

      http://www.youtube.com/watch?v=WdU5ik-fzZs

  18. aerobubble 18

    We’re an export nation, ergo we would accumulate wealth unless another process was imposed to extract wealth. The question is, how do we let wealth leak out so easily? Whose in charge? Govt.

    Govt is too easily lobbied because it has no upper chamber. Loopholes, oversights, tax regimes, all pander to exporting our wealth.

    • Draco T Bastard 18.1

      Govt is too easily lobbied because it has no upper chamber.

      /facepalm

      That has got to be the most nonsensical thing I’ve seen in a long time – and I’ve been having long chats with Tribeless. The lobbyists will obviously lobby both houses.

      As I’ve told you before – having two houses only produces worse government as which ever party has dominance of one house can, and will, prevent anything that they don’t like going through and if one party dominates both houses it just becomes another rubber stamp. Just look at the US and the trouble the republicans have been causing over the budget for the last few years.

      Some people won’t learn from history and, apparently, some can’t learn from what’s going on in front of their nose.

      • Colonial Viper 18.1.1

        Exactly. Two houses and getting rid of the Queen and having a formal constitution etc. – all beside the point and all with their own potential risks and additional unseen complications.

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    Mana | 02-09
  • Local communities critical to Civil Defence
    Labour will focus on empowering New Zealand communities to be resilient in Civil Defence disasters, says Labour’s Civil Defence spokesperson Clare Curran. Announcing Labour’s Civil Defence policy, she says that Labour will work with schools, voluntary agencies and community groups...
    Labour | 02-09
  • Labour looks to long-life passports, gambling harm review
    A return to 10 year passports and a review of gambling laws are highlights of Labour’s Internal Affairs policy released today. “More than 15,000 New Zealanders signed a petition calling on the Government to revert to the 10 year system...
    Labour | 02-09
  • MANA Movement Leadership stands strong behind Internet MANA relationship
    “There is now, and always will be, a range of views about many issues within our movement and members are free to express them, but Georgina’s views on Kim Dotcom are not shared by the MANA Movement leadership or the vast majority...
    Mana | 01-09
  • Rebuilding the New Zealand Defence Force
    A Labour Government will make it a priority to rebuild the capacity of the Defence Force to carry out the tasks expected of it, says Labour’s Defence Spokesperson Phil Goff. Releasing Labour’s Defence Policy today he said the NZDF has...
    Labour | 01-09
  • Speech to Canterbury Chamber of Commerce
    Today I'm going to talk about our policy package to upgrade and grow our economy and how we turn that growth into a foundation for a decent and fair society. But first I want to address the issue of our...
    Labour | 01-09
  • As if you needed another reason to boycott Telecom/Spark – they sold NZ d...
    It should read ‘never stop spying’. As if you needed another reason to boycott Telecom/Spark – they sold us down the river to the US by allowing the Southern Cross cable to be tapped… The ability for US intelligence agencies...
    The Daily Blog | 18-09
  • The NZ First-Labour Party attack strategy against Internet MANA better work
    The final days of the campaign are ticking down and Labour and NZ First are manoeuvring to kill off the Internet MANA Party by both backing Kelvin Davis for Te Tai Tokerau. It’s a risky gambit that they better pray to Christ...
    The Daily Blog | 18-09
  • Bill English’s latest insult to beneficiaries – apparently they are lik...
    National’s hatred towards the poor continues unabated as National desperately try to throw raw meat to their reactionary voter base in the hope to inspire enough hate and loathing to win back their redneck voters from the Conservative Party and from...
    The Daily Blog | 18-09
  • Eminem ain’t happy with John Key
    Eminem ain’t happy with John Key...
    The Daily Blog | 18-09
  • Key claims he did not inhale
    Key claims he did not inhale...
    The Daily Blog | 18-09
  • Final prediction on election result 2014
    What an election campaign. The character assassination of David Cunliffe kicked things off with the Herald on Sunday falsely claiming $100 00 bottles of wine, $15 000 books and $150 000 in donations  from a donor that turned out to be...
    The Daily Blog | 18-09
  • Live blog: Bainamarama takes commanding lead in Fiji elections
      Interview with Repúblika editor Ricardo Morris and Pacific Scoop’s Mads Anneberg. PACIFIC SCOOP TEAM By Ricardo Morris, Mads Anneberg, Alistar Kata and Biutoka Kacimaiwai in Suva WHILE the results are provisional at this stage, it is clear today that...
    The Daily Blog | 17-09
  • 5AA Australia: NZ Elections Two Days To Go! + Edward Snowden + Julian Assan...
    Recorded live on 18/09/14 – Captured Live on Ustream at http://www.ustream.tv/channel/multimedia-investments-ltd 5AA Australia’s Peter Godfrey and Selwyn Manning deliver their weekly bulletin: Across The Ditch. This week, they discuss the latest news as New Zealanders go to the polls on...
    The Daily Blog | 17-09
  • What has Colin Craig done for his Press Secretary to quit 2 days before ele...
    This is VERY strange.  Colin Craig’s Press Secretary Rachel McGregor, has quit 2 days before the election, allegedly telling ZB that Colin Craig was a “very manipulative man”. I’ve met Rachel many times in the past as Colin’s Press Secretary, she is...
    The Daily Blog | 17-09
  • “If you want steak, go to the supermarket and buy steak,” – A brief w...
    “If you want steak, go to the supermarket and buy steak,” said Key in the final leaders debate. Problem of course is that the 250 000 – 285 000 children living in poverty can not afford steak, milk, butter, eggs...
    The Daily Blog | 17-09
  • National’s final bash of beneficiaries before the election
    On cue, whenever National feel threatened, they roll out a little bennie bash just to keep their redneck voter base happy. Nothing like a bit of raw meat policy to keep National voters focused on the evil threat solo parents...
    The Daily Blog | 17-09
  • With All Of This In Mind, I Vote
    This is my last blog before the election and I really just want to speak from the heart. Right now in this country it seems to me that a lot of people consider the “essentials” in life to be simply...
    The Daily Blog | 17-09
  • Left has to vote strategically this election
    The dedication, loyalty, and tribalism of party politics means that sometimes the left lets itself down by not voting strategically. We all want our favoured party to get maximum votes, naturally, but the winner-takes-all approach doesn’t always suit multi-party left...
    The Daily Blog | 17-09
  • Dear NZ – as you enter the polling booth, stand up for your rights
    The last days before a NZ general election are a busy time as politicians make their pitch and party activists prepare to get out the vote. It is sort of weird watching from the distance of Europe the strangest election...
    The Daily Blog | 17-09
  • What is Waihopai, John, if it isn’t a facility for “mass surveillance...
    John Key assured us on RNZ’s Nine to Noon programme yesterday that “In terms of the Fives Eyes data bases… yes New Zealand will contribute some information but not mass wholesale surveillance.” How does this square with the operation of the...
    The Daily Blog | 17-09
  • GUEST BLOG: Catherine Delahunty – Mass Surveillance and the Banality of E...
    Renowned journalist and intellectual Hannah Arendt coined the phrase “the banality of evil” to describe the normalisation of genocide in Nazi Germany. I thought of her phrase when I was listening to Glenn Greenwald and other international whistle-blowers talking about...
    The Daily Blog | 17-09
  • Election. Down. To. The. Wire
    Funny how last week it was John Key winning by 50%, now it’s neck and neck. I have always believed this election would be down to the wire and it is proving so. The flawed landline opinion polls the mainstream...
    The Daily Blog | 17-09
  • 3rd Degree uses Whaleoil for story ideas as if Dirty Politics never happene...
    TV3s 3rd Degrees smear job on Kim Dotcom last night doesn’t bear much repeating. It was pretty pathetic journalism from a team who have brought us some great journalism in the past. It is sad to see 3rd Degree stooping...
    The Daily Blog | 17-09
  • Live blog: Bainimarama takes early lead in Fiji’s election
    Pacific Scoop’s Alistar Kata reports from yesterday’s voting. By Alistar Kata of Pacific Scoop in Suva Prime Minister Voreqe Bainimarama took an early lead in provisional results in the Fiji general election last night. With provisional results from 170 out...
    The Daily Blog | 17-09
  • Has The NSA Constructed The Perfect PPP?
    Former intelligence analyst and whistleblower, Edward Snowden – speaking live to those gathered at the Auckland Town Hall on Monday September 17, 2014. Investigation by Selwyn Manning. THE PRIME MINISTER JOHN KEY’s admission on Wednesday that whistleblower Edward Snowden “may...
    The Daily Blog | 17-09
  • No way – Key admits Snowden is right
    After claiming there was no middle ground. After claiming there was no mass surveillance. After calling Glenn Greenwald a henchman and a loser. After all the mainstream media pundits screamed at Kim’s decision to take his evidence to Parliamentary Privileges...
    The Daily Blog | 17-09
  • Bad luck National
    ...
    The Daily Blog | 16-09
  • The incredible changing John Key story on mass spying – why the Moment of...
    While the mainstream media continue to try and make the Moment of Truth about Kim’s last minute decision to prolong his battle against John Key past the election into the Privileges Committee, the reality is that the Moment of Truth...
    The Daily Blog | 16-09
  • GUEST BLOG: Curwen Rolinson – Themes of the Campaign
    There’s one area of a political campaign that just about everyone, at some point, falls afoul of. The campaign song. I’m not sure quite why it is, but it seems to be almost impossible for political parties to come up...
    The Daily Blog | 16-09
  • GUEST BLOG – Denis Tegg – The NSA slides that prove mass surveillance
    The evidence presented by Glenn Greenwald and Edward Snowden on The Intercept of mass surveillance of New Zealanders by the GCSB is undeniable, and can stand on its own. But when you place this fresh evidence in the context of...
    The Daily Blog | 16-09
  • Ukraine, United Kingdom, Ireland, Scotland
    The Ukrainian civil war discomforts me. It seems to me the most dangerous political crisis since the Cuban missile crisis of 1962. And it’s because of our unwillingness to examine the issues in a holistic way. We innately prefer to...
    The Daily Blog | 16-09
  • John Key’s love affair with a straw man – the relationship intensifies
    John Key’s love affair with the straw man is now a fully-committed relationship. It’s now the first love of his life. Sorry Bronagh. Yesterday I pointed to Key’s constant assurances that there is no mass surveillance of New Zealanders by...
    The Daily Blog | 16-09
  • A brief word on why Wendyl Nissen is a hero
    Wendyl Nissen is a hero. The sleazy black ops attack on her by Slater and Odgers on behalf of Grocery Council chief executive Katherine Rich is sick. All Nissen is doing in her column is point out the filth and...
    The Daily Blog | 16-09
  • She saw John Key on TV and decided to vote!
    . . NZ, Wellington, 15 September – ‘Tina’* is 50, a close friend,  and one of the “Missing Million” from the last election. In fact, ‘Tina’ has never voted in her life.  Not once. In ‘Tina’s’ own words, politics has...
    The Daily Blog | 16-09
  • Eminem sues National Party for unlawful use of ‘Lose yourself’ bhahahah...
    …ahahahahahahahaha. Oh Christ this is hilarious… National Party sued over Eminem copyright infringment US rapper Eminem is suing the National Party for allegedly breaching copyright by using his song Lose Yourself in its campaign advertisements. The Detroit-based publishers of Eminem’s...
    The Daily Blog | 16-09
  • Are the Greens about to be snookered by a Labour-NZ First Government?
    I wrote last week that it was smart politics that the Greens pointed out they could work with National, the soft blue vote that’s looking for a home in the wake of Dirty Politics isn’t going to Labour, so the...
    The Daily Blog | 16-09
  • BLOGWATCH: Fonterra join 2Degrees and boycott Whaleoil
    In the wake of Dirty Politics, advertisers are pulling their advertising out of Whaleoil. PaknSave, Evo Cycles Pukekohe, Localist, 2 Degrees, Fertility Associates, iSentia, NZ Breast Cancer Foundation, Maori TV, Bookme.co.nz, Dobetter.co.nz and the Sound are now joined by Fonterra...
    The Daily Blog | 16-09
  • PM Key accused of allowing secret ‘spook’ cable sensors to spy on citiz...
    Pulitzer prize-winning journalist Glenn Greenwald (left) and Kim Dotcom at the “moment of truth” political surveillance meeting in Auckland last night. Image: PMW By ANNA MAJAVU of Pacific Media Watch NEW ZEALAND Prime Minister John Key has been accused of...
    The Daily Blog | 15-09
  • Fiji pre-election ‘politics’ blackout stirs media protests, frustration
    BLACKOUT DAY – Monday, day one of the “silence window” in Fiji leading up to the close of polling in the general election at 6pm on Wednesday. And this is under the draconian threat of a $10,000 fine or five...
    The Daily Blog | 15-09
  • “Now the work of movements begins”: government corruption, media bias, ...
    I am so tired of the dirty politics of the National government, aren’t you? I am tired of John Key and his pathetic attacks on award-winning journalists who have spent their careers fighting and digging for truth and good. The...
    The Daily Blog | 15-09
  • Moment of Truth review, smoking guns and the awful coverage by the NZ msm
      There were queues unlike any the Town Hall has seen, 1000 were turned away once it became full…     …full to the rafters. The energy and atmosphere within the room was extraordinary, and it begun…   …Glenn Greenwald...
    The Daily Blog | 15-09
  • Why Maori TV’s Te Tai Tokeraou Poll will be proved wrong
    If Hone Harawira had a dollar every time the media wrote off his chance of winning Te Tai Tokeraou, he would have more money than Kim Dotcom. Remember the by-election? Hone was 1 point ahead of Kelvin in an exact...
    The Daily Blog | 15-09
  • September 15 RNZ interviews – and then the Moment of Truth
    . Acknowledgement: Emmerson . 15 September – Leading up to the Moment of Truth public meeting this evening, these Radio NZ interviews are worth listening to; . Alt link . Alt link . Alt link . Alt link . Alt...
    The Daily Blog | 15-09
  • Live Stream: Moment of Truth Tonight 7pm
    Live Video Stream by eCast: The Daily Blog will Live Stream the Moment of Trust public meeting from 7pm. The meeting will feature Glenn Greenwald, Kim Dotcom, Robert Amsterdam, and a very special guest…...
    The Daily Blog | 15-09
  • The proof Key lied about GCSB mass surveillance
    And we start getting to the evidence that proves Key has lied about mass surveillance. The article by Glenn Greenwald is out and it is beyond damning… Documents provided by NSA whistleblower Edward Snowden show that the government worked in...
    The Daily Blog | 15-09
  • A brief word on the Ede-Slater emails
    Every day I have rushed to read the paper to see if a breaking story on the Ede-Slater emails had broken yet. They haven’t. Day after day, where are these emails? We know Rawshark sent the emails to David Fisher...
    The Daily Blog | 15-09
  • The email that proves Key is a liar
    This is the Email proving Key knew about Kim Dotcom before he claims he did… “We had a really good meeting with the Prime Minister. He’s a fan and we’re getting what we came for. Your groundwork in New Zealand...
    The Daily Blog | 15-09
  • Henchmen
    Henchmen...
    The Daily Blog | 14-09
  • Why it simply isn’t credible that Key stepped in and shut down the mass s...
    Key’s staggering admission that yes there was a year long business model by the GCSB to mass spy on all of NZ but  that he stepped in and shut it down after Cabinet had signed it off just sounds like make...
    The Daily Blog | 14-09
  • John Key’s love affair with a straw man
    Politicians like putting up straw men for the purpose of self-righteously knocking them over. Prime Minister John Key has a particular straw man he loves to punch over. He raises it whenever he’s asked about mass surveillance of New Zealanders...
    The Daily Blog | 14-09
  • John Armstrong turns on Glenn Greenwald
    Where does a mediocre journalist like John Armstrong get off attacking a journalist with the credibility of Glenn Greenwald as he has in his ridiculous column today? Armstrong has the audacity to try and play the terrorism card to justify why...
    The Daily Blog | 14-09
  • GUEST BLOG: Denis Tegg – Which of John Key’s many statements on the GC...
    We already have Glenn Greenwald’s assertion on The Nation that John Key has misled New Zealanders as to whether the GCSB has engaged in mass surveillance of Kiwis. But Key has made many other statements about the GCSB’s powers and...
    The Daily Blog | 14-09
  • Election 2014: Numbers and Faces
    Democratic politics is a game of numbers and faces. How can we translate the numbers into the 120 or more faces that will be in the next Parliament? Below is my prediction of a likely result: 120 people, divided by...
    The Daily Blog | 14-09
  • Scotland the brave
    The possibility that Scotland will vote for independence this Thursday has panicked the British establishment. An unholy alliance of Tory, Labour, Liberal and corporate leaders has resorted to fear-mongering and bullying on grand scale in a last ditch effort to...
    The Daily Blog | 14-09
  • Why Key’s denials sound so off and why Dotcom’s fight is all our fight
    The shrillness of Key is the issue. His denials just too forced and rehearsed. Key has gone from Hollow Man to Shallow Man with his lashing out at Pulitzer Price winning Journalist Glenn Greenwald by calling him a ‘henchman’. This...
    The Daily Blog | 14-09
  • Live Election Night Coverage on TV And Online
    Māori Television’s KOWHIRI 2014 – ELECTION SPECIAL kicks off at 7.00pm this Saturday with a five-hour broadcast focusing on the Māori electorates....
    Scoop politics | 18-09
  • Judge’s Decision Disappoints Fish & Game
    Today’s decision to give a Temuka man 100 hours of community service for selling sports fish to the public has disappointed Fish & Game, which believes the sentence handed down was “too lenient and will not go far enough to...
    Scoop politics | 18-09
  • Cutting-Edge Graphics Fire up TV3’s Election Night Coverage
    TV3’s Election Night coverage, hosted by John Campbell, will be enhanced by cutting-edge graphics that will showcase the night’s results....
    Scoop politics | 18-09
  • Govt rushes to open charter schools in New Year
    The government’s decision to approve four new charter schools last week to open in January next year goes against the Minister of Education’s own advice that the schools ought to have at least a year’s preparation time....
    Scoop politics | 18-09
  • 7 Days And Jono And Ben at Ten Hijack Election Weekend
    The 7 Days and Jono and Ben at Ten (JABAT) comedians are running their own version of election coverage, with a schedule of entertainment and comedy across TV3, Kiwi FM, the web and social media this Friday and Saturday under...
    Scoop politics | 18-09
  • Fewer Prisoners Equals Less Crime
    In its latest blog, ‘Abolishing Parole and other Crazy Stuff’,’ at http://blog.rethinking.org.nz/2014/09/krill-and-womble-independent-policy.html , Rethinking Crime and Punishment urges government to rethink its approach to releasing prisoners. “The public expectation is that the excellent reductions in the crime...
    Scoop politics | 18-09
  • McVicar slams his political opponents
    I want a safe and prosperous society and that can only be achieved if we have strong and vi-brant families – McVicar...
    Scoop politics | 18-09
  • Falling economic growth – wage rises overdue
    “The lower GDP growth in the three months to June is further evidence that growth has peaked. New Zealand’s economy is on the way down to mediocre growth rates,” says CTU economist Bill Rosenberg. “Yet wage rises are still weak...
    Scoop politics | 18-09
  • Get Out and Vote campaign a success
    Tens of thousands of workers from all around New Zealand have embraced the Get Out and Vote campaign and have created their own personalised voting plan, the CTU said today. “With three days of voting left in the 2014 General...
    Scoop politics | 18-09
  • Animal Research Failing – So Do More Animal Research?
    Victoria University of Wellington is about to host a lecture on why the success rates of pharmaceutical development is so low and what can be done about it. The New Zealand Anti-Vivisection Society (NZAVS) welcomes discussion on this important...
    Scoop politics | 18-09
  • ALCP welcomes Prime Minister’s cannabis comments
    Mr Abbott's comments came on the same day as New South Wales and Victoria states announced they would be doing clinical trials of cannabis....
    Scoop politics | 18-09
  • Conservative Party Press Secretary Resignation
    The Conservative Party is given to understand that this morning Press Secretary, Miss Rachel Macgregor resigned althought no formal advice of this has yet been received....
    Scoop politics | 18-09
  • By ACT’s logic, Epsom should vote for Conservative Candidate
    “Polling released late in the campaign shows that ACT is a busted flush and that by ACT’s own logic, centre-right Epsom voters should vote for the Conservative candidate”, says Labour candidate for Epsom Michael Wood....
    Scoop politics | 17-09
  • New online medical system
    Immigration New Zealand (INZ) is seeking registrations of interest for a new onshore panel physician network to support an online immigration health processing system....
    Scoop politics | 17-09
  • Students, You Have a Choice, Vote!
    The New Zealand Union of Students’ Associations (NZUSA) is imploring students to ensure they make their voices heard this election, and join the many thousands who have already heeded the call....
    Scoop politics | 17-09
  • Party vote ACT for three years of stability.
    Voters who are concerned that on the latest polls we may be heading for three years of instability have it in their hands to deliver a decisive result....
    Scoop politics | 17-09
  • Women’s Suffrage Movement – Get Out and Vote!
    Tomorrow, Friday 19th September, MANA Movement Candidate for Waiariki, Annette Sykes, will cast her vote at 12 noon at the Zen’s Building, Rotorua. This will follow a march through Rotorua that will assemble at 10am at City Focus, Rotorua. The...
    Scoop politics | 17-09
  • iPredict Daily Update
    David Cunliffe and Labour have made gains over the last 24 hours, according to the combined wisdom of the 8000+ registered traders on New Zealand’s predictions market, iPredict, but John Key’s National is still strongly expected to lead the next...
    Scoop politics | 17-09
  • Conservative’s Proposal to Abolish Parole Fatally Flawed
    The Conservative Party’s proposal to abolish parole doesn't stack up, however which way you look at it, concludes Kim Workman in Rethinking Crime and Punishment latest blog, ‘Abolishing Parole and Other Crazy Stuff’ at http://blog.rethinking.org.nz/2014/09/krill-and-womble-independent-policy.html...
    Scoop politics | 17-09
  • Special Edition : The letter 18 September 2014
    Dr Jamie Whyte has been giving thoughtful speeches largely unreported. So we thought we would put out an edited version on the speech he gave yesterday. The full speech is on the website....
    Scoop politics | 17-09
  • Differences in educational level reflected in voter choice
    Differences in educational level reflected in voter preferences The Green party has the highest proportion of tertiary educated supporters and NZ First has the least according to an analysis by the Election Data Consortium. The Consortium is made...
    Scoop politics | 17-09
  • Renters need assistance to improve poor housing conditions
    Thursday 18 September 2014 Renters are living in poorer conditions than homeowners and are less empowered to improve their housing situation according to a study by medical students at the University of Otago, Wellington. The fourth year medical...
    Scoop politics | 17-09
  • Pacific Island Affairs & NZ Police to work more closely
    The Ministry of Pacific Island Affairs Chief Executive, Pauline Winter, and The Commissioner of Police, Mike Bush, are this afternoon signing a Memorandum of Understanding (MoU) between the Ministry and the New Zealand Police....
    Scoop politics | 17-09
  • Te Hira Paenga sets the record straight
    In recent days there has been much speculation about my campaign in Te Tai Tokerau. Some commentators have suggested that I should step down or endorse the Labour candidate in an attempt to stop the Internet Party riding on the...
    Scoop politics | 17-09
  • Last Chance to Enrol to Vote – Don’t Miss Out
    Last Chance to Enrol to Vote – Don’t Miss Out If you’re not enrolled now, you need to hurry or you won’t be able to vote in this Saturday’s general election. “Election day is almost here, and it’s your last...
    Scoop politics | 17-09
  • Stuart Nash voted against wishes of Napier Electorate
    Napier Conservative Party Candidate Garth McVicar says the recent decision by the Advertising Standards Authority in reply to a complaint laid by Stuart Nash’s campaign manager confirms that Nash voted against the wishes of the Napier electorate. Robert...
    Scoop politics | 17-09
  • What price life asks Conservative Party
    The Conservative Party are asking what is the price of life if the killer of a defenceless homeless man who was viciously beaten and left to die was jailed for just 11 and a half years....
    Scoop politics | 17-09
  • National Stands To Lose Votes If Animal Welfare Is Ignored
    SAFE has presented Prime Minister John key with a 40,000 signature-strong petition calling for a farrowing crate ban....
    Scoop politics | 17-09
  • Statement From Kim Dotcom
    Tonight Third Degree broadcast issues raised by three former staff members who are in dispute with us....
    Scoop politics | 17-09
  • Three Internet-Mana Policies Blow the Bribe-O-Meter to Bits
    The Taxpayers’ Union has received advice that the cost of just three Internet-Mana policies is $17.6 billion - higher than the entire policy packages of the three main political parties combined. Taxpayers’ Union Executive Director Jordan Williams...
    Scoop politics | 17-09
  • Pregnancy Help Welcomes Green Party Packs for Newborn Babies
    Pregnancy Help applauds Metiria Turei acknowledging that “for many parents the birth of a new child is a highly stressful and financially straining time” and the desire for every child to thrive....
    Scoop politics | 17-09
  • McVicar Welcomes ASA Decision
    Napier Conservative Party Candidate Garth McVicar welcomes the Advertising Standards Authority’s decision to not uphold the pamphlet complaint of Robert Johnson, Campaign Manager for Napier Labour candidate Stuart Nash. The ASA acknowledged that one complaint...
    Scoop politics | 17-09
  • Whyte: In 12 months’ time, here is what will matter
    In three days’ time I will be elected along with a number of ACT MPs. I think the media will be surprised and ask how it happened?...
    Scoop politics | 17-09
  • Internet MANA Will Grant Special Residency to Edward Snowden
    Internet MANA will put the case to the new government to welcome global surveillance whistle blower Edward Snowden, granting him safe passage and residency in New Zealand....
    Scoop politics | 17-09
  • Ten millionth traveller uses SmartGate
    The 10 millionth traveller to pass through SmartGate, Customs’ automated passenger processing system, was greeted by Customs Manager Passenger Operations, Peter Lewis today at Auckland International Airport....
    Scoop politics | 17-09
  • Key vs. Cunliffe: Final Live NZ Election Reactor 7pm Tonight
    John Key and David Cunliffe go head to head for the last time tonight and you can decide who wins by driving the worm. This is the last live Election Reactor covering the debate tonight at 7pm on TV One....
    Scoop politics | 17-09
  • Offenders Get Road Safety Message
    Wellington Community Corrections partnered with emergency services, government agencies, organisations and Kapiti Coast District Council to deliver an innovative road safety programme to 70 community-based offenders at Southwards Car Museum on Tuesday 16...
    Scoop politics | 17-09
  • Proposed law to decriminalise Abortion
    http://images.tvnz.co.nz/tvnz_images/news2011/politics_news/12/q_a_interview__list_mp_jan_logie_n2.jpgRight to Life is disappointed that the Green Party is refusing to provide a response to the seven very important questions that have been addressed to Jan Logie, spokesperson...
    Scoop politics | 17-09
  • Election 2014 Will Be Costly
    The Taxpayers’ Union has today released the final update for its ' Bribe-O-Meter ' election costing website in the lead-up to Saturday’s general election. Taxpayers’ Union Executive Director Jordan Williams says:...
    Scoop politics | 17-09
  • Roy Morgan Poll September 17
    John Key set to win narrow election victory on Saturday as Labour/Greens slump puts Winston Peters in powerful position as NZ First surge to 8% Today’s New Zealand Roy Morgan Poll shows National (46.5%, up 1.5%) set to win a...
    Scoop politics | 17-09
  • Wahakura Package would provide warm welcome for babies
    The Greens Wahakura Welcome package announced yesterday is a wonderful example of child-centred policy which would help all children get a fair and equal start in life, says Child Poverty Action Group. CPAG health spokesperson Innes Asher says,...
    Scoop politics | 17-09
  • TPPA a Sellout to American Corporate Greed
    New Zealand will become a permanent prisoner to the United States’ greed and global arrogance if the Trans-Pacific Partnership Agreement (TPPA) isn’t stopped, warns Internet MANA....
    Scoop politics | 17-09
  • Wintry showers and blustery winds for Election Day
    As we head towards the weekend, it is time to look at what the weather will be for New Zealand's "Have Your Say" Day....
    Scoop politics | 17-09
  • New national secretary announced
    The PSA is pleased to announce the appointment of Erin Polaczuk to the role of national secretary....
    Scoop politics | 17-09
  • Public Secotr & TISA: On the cusp of something very special?
    Is the National Party keeping some things out of sight in case they frighten the electorate? Here is some worrying evidence that this may be the case....
    Scoop politics | 17-09
  • MPI ups yacht biosecurity ante
    Yachts arriving in Northland from overseas this season will face greater biosecurity scrutiny, says the Ministry for Primary Industries (MPI)....
    Scoop politics | 17-09
  • iPredict Election Update
    John Key’s National Party now has an 88% probability of leading the next government , most probably with the support of NZ First, according to the combined wisdom of the 8000+ registered traders on New Zealand’s predictions market, iPredict. There...
    Scoop politics | 17-09
  • Crowdfunding to Save Native Fish
    NZ Landcare Trust is offering an exciting project designed to assist native fish, as part of the launch of a new global crowdfunding category called 'The Landcare & Environment Collection.' This exciting step, aims to help raise funds and support,...
    Scoop politics | 17-09
  • New methods needed to reach non-voters
    Non-voters are much heavier users of the internet than those who do vote, while 43 per cent of non-voters say they never read a newspaper according to research released today by the Election Data Consortium....
    Scoop politics | 16-09
  • Parties sent home with report cards
    More than 2000 New Zealanders came together to run a full page ad in the Herald today asking all Parties what they will commit to do to clean up politics. The answers are in, and ActionStation has graded Parties on...
    Scoop politics | 16-09
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