Panama tax rort stirs world leaders but not Key
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- Date published:
8:00 am, April 7th, 2016 - 18 comments
Categories: business, capitalism, Economy, Globalisation, International, john key, Minister for International Embarrassment, national, national/act government, Politics, same old national, tax -
Tags: panama papers
Contrast John Key’s response to revelations in the “Panama Papers” tax evasion scandal to that of most leaders and you understand where the prime minister and National stand on tax and a fair society.
Key’s response was to state that New Zealand has a “robust, legitimate tax regime that requires foreigners to fully disclose”. Nothing needs to change.
As was soon revealed, full disclosure was not only a very economical version of the truth (disclosure did not extend to financial disclosure for example), but exposed Key and National as content to do nothing to prevent multinationals and foreign entities ripping off the New Zealand tax base, to say nothing of swindlers, crooks, money launderers and the mafia using our deregulated, lax laws for nefarious purposes.
US President Barack Obama ordered Treasury and Congress to investigate ways and means to prevent companies setting up offshore shelf companies to avoid tax.
He noted that “a lot of it is legal, but that’s exactly the problem.”
It’s not that they are breaking the laws, it’s that the laws are so poorly designed that they allow people, if they have enough lawyers and caveats, to wriggle out of responsibilities that ordinary citizens are having to abide by.”
People had to know that the wealthy weren’t playing by a different set of rules and not gaming the system, he said.
Tax avoidance is a big global problem. Lost revenue has to be made up somewhere.”
Whether or not Treasury or Congress actions are effective, at least Obama recognises the issues.
Leaders of France, Spain, Austria and the Netherlands also pledged their governments would investigate the shady offshore trust business revealed in the leaks of Panama-based law firm Mossack Fonseca.
Meanwhile, Key denied the “Panama Papers” had embarrassed his Government or created a reputational risk for New Zealand.
New Zealand was a signatory to international tax treaties which allowed information exchanged between jurisdictions and a review of New Zealand’s foreign trust rules by the OECD in 2013 gave New Zealand a “clear bill of health”, he said.
The $24 million of fees generated annually made our lax tax regime worthwhile.
He also denied New Zealand was a tax haven.
Despite this, Inland Revenue warned in 2013 that New Zealand’s foreign trusts posed a reputational risk, adding that “our foreign trust rules continue to attract criticism including claims that New Zealand is now a tax haven in respect of trusts.”
It specifically warmed that New Zealand tax rules were a mismatch with other countries, even where there were doubled tax agreements, which, “may result in income not being taxed either in New Zealand or offshore.”
Use of NZ Trusts
The Panama Papers, the leak of over 11 million Mossack Fonseca documents, reveal New Zealand-based trusts have been used by clients of that firm, many of whom have used the murky route for money laundering, tax dodging and other illegal purposes.
Owning an offshore company or trust, is not illegal, but the Panama Papers reveal that concealing the identities of the true company owners was the primary aim in the vast majority of cases of the 214,000 entities leaked. Criminals, mafia groups, drug barons, human traffickers, oligarchs, highly ranked officials of some governments, have all been shown to be involved.
One New Zealand trust used by Maltese government minister Konrad Mizzi was one of nearly 12,000 foreign trusts in New Zealand, most of which do not pay tax on foreign income.
The “full disclosure” John Key claims for New Zealand trusts, amounts to registering the name of the trust and providing the name of the New Zealand trustee, usually a professional nominee who is adept at being economical with the truth if you can ever contact them.
IRD powers very limited
Further information, such as settlements and distributions, can legally be requested by IRD and passed on to one of 40 nations where New Zealand has double tax agreements (plus 11 others which have information sharing agreements), but IRD has to have reason to suspect before requesting such information. In practice, that just doesn’t happen. And if the trustees come from some murky jurisdiction outside the 51 above, then IRD is whistling in the wind.
University of Auckland Law Professor, Michael Littlewood, said IRD’s ability to collect information is very limited. With the exception of Australian residents, the trustee of New Zealand foreign trusts did not have to disclose the identities of the people putting assets into the trusts, where they come from, what the assets were, or their value, or who benefitted from them.
“As currently provided for, they (the disclosure requirements) are woefully inadequate.”
The do nothing option
Initially, Revenue Minister Michael Woodhouse ruled out any changes, saying New Zealand had “world-class” tax rules but as the revelations of the Panama Papers gained traction, amended his position to stating, “the Government wouldn’t rule out changes”.
However, instead of taking the initiative, he said the government would await OECD-led reform.
Woodhouse’s predecessor, Todd McClay, sought advice following the IRD’s 2013 warning of reputational damage, but was put off because “it would require a lot of hard work” and “the argument was, ‘was it worth it in terms of all the other issues on the IRD work programme?’.”
Multinationals’ tax avoidance even more damaging
A similar, and more financially damaging, fiddling-while-Rome-burns attitude has been taken in respect to multinationals like Facebook, Apple, McDonalds, and Coke rorting different tax rates around the world so they play virtually no tax here or anywhere else.
Law Professor Craig Elliffe, author of the book International and Cross Border Taxation in New Zealand, said 20 top multinationals paid just $1.8 million of tax on over $10 billion in turnover. Even John Key didn’t think that was totally fair, he said.
Former Google chief executive Eric Schmidt infamously defended such accounting tricks that had allowed it to funnel billions of dollars of profits to Bermuda each year, saying it was “called capitalism”.
When the OECD surprised the world by rapidly coming up with a set recommendations on its Beps (Base Erosion Profit Sharing) project to prevent avoidance of an estimated US$100 billion to $240b of corporation tax by the likes of Google, McClay promised that New Zealand would implement these before the end of this year.
Answering questions about how the legislation was progressing, current Revenue Minister Woodhouse pointed to the legislation introduced in November covering GST on online purchases.
This was an important first step in the government’s efforts to deal with increasing volumes of online services and other intangibles purchased from overseas suppliers, he told The Standard.
“Consultation had also been undertaken to seek feedback on proposals to strengthen our non-resident withholding tax rules which currently could provide the ability for non-residents to shift profits out of New Zealand with no or minimal New Zealand tax paid.
“Feedback from the public has been analysed and considered and I expect to introduce legislation on this matter in the near future,” he said.
“I would note that the most effective way to ensure that multinationals cannot exploit differences in tax rules lies in ensuring that there is consistency between jurisdictions. If there is little difference between tax rules, then profit shifting becomes pointless. And that is why we have committed to an OECD led, global response to this global problem.” Woodhouse said.
He told The Standard that a strong network of double tax agreements, tax information exchange agreements and such agreements were crucial in getting multinationals to pay their fair whack of tax.
Double tax agreements actually a threat
Prof Elliffe said such treaties were actually “the most significant threat because they are being used in a way that significantly reduces the ability of New Zealand to tax New Zealand-sourced business profits.”
New Zealand only had the right to tax these profits when a foreign multinational operates through what is known as a “permanent establishment” in New Zealand.
“At the heart of the problem is that some multinationals can operate without triggering a tax liability due to the way in which they can step around the taxation of business profits using (legitimately) these permanent establishment provisions of double tax agreements,” Elliffe says.
This is because they can sell or deliver their goods online and have them delivered without breaching the permanent establishment threshold.
Elliffe says that many multinational have structured their affairs so that double tax treaties are “creating a situation of double non-taxation”.
He suggested New Zealand should follow the example of Australia and the UK which had enacted measures of “unilateral legislation treaty override” which means that where a multinational abuses the intent of tax laws or treaties, they will have to pay up anyway.
However Woodhouse dresses the measures the government is considering, they appear to fall far short of dealing with the issues of full disclosure of foreign trusts, or of multinationals having billions of dollars of sales with commensurate profits in New Zealand and paying next to next to no tax.
The lack of intent to act comes down to ideology – that tax is anathema to the Right. The less tax the better and therefore the idea of closing tax loopholes at the bottom of National’s agenda.
John Key’s background was with the now defunct bank Merrill Lynch, which like other US investment banks, was instrumental in designing aggressive tax avoidance plans. Many in National’s constituency will be using offshore trusts and aggressive tax planning to minimize their tax. Why would he act to stop such behaviour?
(Simon Louisson formerly worked for The Wall Street Journal, NZPA, Reuters and was most recently a political and media adviser to the Green Party)
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- Where is the Power Button on an ASUS Laptop?Powering up and shutting down your ASUS laptop is an essential task for any laptop user. Locating the power button can sometimes be a hassle, especially if you’re new to ASUS laptops. This article will provide a comprehensive guide on where to find the power button on different ASUS laptop ...6 days ago
- How to Start a Dell Laptop: A Comprehensive GuideDell laptops are renowned for their reliability, performance, and versatility. Whether you’re a student, a professional, or just someone who needs a reliable computing device, a Dell laptop can meet your needs. However, if you’re new to Dell laptops, you may be wondering how to get started. In this comprehensive ...6 days ago
- Gaza: Aotearoa Must Support Independent Investigation into Mass GravesTe Pāti Māori are demanding the New Zealand Government support an international independent investigation into mass graves that have been uncovered at two hospitals on the Gaza strip, following weeks of assault by Israeli troops. Among the 392 bodies that have been recovered, are children and elderly civilians. Many of ...9 hours ago
- Release: Working together on consistent support for veterans this Anzac Day
Our two-tiered system for veterans’ support is out of step with our closest partners, and all parties in Parliament should work together to fix it, Labour veterans’ affairs spokesperson Greg O’Connor said. ...2 days ago - Release: Penny drops – but what about Seymour and Peters?Stripping two Ministers of their portfolios just six months into the job shows Christopher Luxon’s management style is lacking, Labour Leader Chris Hipkins said. ...2 days ago
- Another ‘Stolen Generation’ enabled by court ruling on Waitangi Tribunal summonsTonight’s court decision to overturn the summons of the Children’s Minister has enabled the Crown to continue making decisions about Māori without evidence, says Te Pāti Māori spokesperson for Children, Mariameno Kapa-Kingi. “The judicial system has this evening told the nation that this government can do whatever they want when ...3 days ago
- Release: Budget blunder shows Nicola Willis could cut recovery fundingIt appears Nicola Willis is about to pull the rug out from under the feet of local communities still dealing with the aftermath of last year’s severe weather, and local councils relying on funding to build back from these disasters. ...3 days ago
- Further environmental mismanagement on the cards
The Government’s resource management reforms will add to the heavy and ever-growing burden this Government is loading on to our environment. ...3 days ago - Release: RMA changes will be a disaster for environmentThe Government is making short-sighted changes to the Resource Management Act (RMA) that will take away environmental protection in favour of short-term profits, Labour’s environment spokesperson Rachel Brooking said today. ...3 days ago
- Release: Labour supports urgent changes to emergency management systemLabour welcomes the release of the report into the North Island weather events and looks forward to working with the Government to ensure that New Zealand is as prepared as it can be for the next natural disaster. ...3 days ago
- Release: Labour calls for New Zealand to recognise PalestineThe Labour Party has called for the New Zealand Government to recognise Palestine, as a material step towards progressing the two-State solution needed to achieve a lasting peace in the region. ...4 days ago
- Release: Three strikes law political posturing of worst kindThe Government is bringing back a law that has little evidential backing just to look tough, Labour justice spokesperson Duncan Webb said. ...4 days ago
- Release: Government cuts unbelievably target child exploitation, violent extremism, ports and airpor...Some of our country’s most important work, stopping the sexual exploitation of children and violent extremism could go along with staff on the frontline at ports and airports. ...4 days ago
- Three strikes has failed before and will fail againResurrecting the archaic three-strikes legislation is an unwelcome return to a failed American-style approach to justice. ...4 days ago
- Release: Environmental protection vital, not ‘onerous’The Government’s Fast Track Approvals Bill will give projects such as new coal mines a ‘get out of jail free’ card to wreak havoc on the environment, Labour Leader Chris Hipkins said today. ...4 days ago
- Ferris – Three Strikes targets those ‘too brown to be white’The government's decision to reintroduce Three Strikes is a destructive and ineffective piece of law-making that will only exacerbate an inherently biased and racist criminal justice system, said Te Pāti Māori Justice Spokesperson, Tākuta Ferris, today. During the time Three Strikes was in place in Aotearoa, Māori and Pasifika received ...5 days ago
- Release: Govt cuts doctors and nurses in hiring freezeCuts to frontline hospital staff are not only a broken election promise, it shows the reckless tax cuts have well and truly hit the frontline of the health system, says Labour Health spokesperson Ayesha Verrall. ...1 week ago
- Fast-track submissions period must be extendedThe Green Party has joined the call for public submissions on the fast-track legislation to be extended after the Ombudsman forced the Government to release the list of organisations invited to apply just hours before submissions close. ...1 week ago
- Release: Progress on climate will be undone by GovtNew Zealand’s good work at reducing climate emissions for three years in a row will be undone by the National government’s lack of ambition and scrapping programmes that were making a difference, Labour Party climate spokesperson Megan Woods said today. ...1 week ago
- Release: Dark day for Kiwi kids as a third of Govt cuts affect themNews that 1000 jobs at the Ministry of Education and Oranga Tamariki could go is devastating for future generations of New Zealanders. ...1 week ago
- Release: Alarm as Government signals further blow to school lunchesMore essential jobs could be on the chopping block, this time Ministry of Education staff on the school lunches team are set to find out whether they're in line to lose their jobs. ...1 week ago
- Oranga Tamariki cuts commit tamariki to state abuseTe Pāti Māori is disgusted at the confirmation that hundreds are set to lose their jobs at Oranga Tamariki, and the disestablishment of the Treaty Response Unit. “This act of absolute carelessness and out of touch decision making is committing tamariki to state abuse.” Said Te Pāti Māori Oranga Tamariki ...1 week ago
- Release: Quick, submit – stop Govt’s dodgy approvals billThe Government is trying to bring in a law that will allow Ministers to cut corners and kill off native species, Labour environment spokesperson Rachel Brooking said. ...1 week ago
- Government throws coal on the climate crisis fireThe Government’s policy announced today to ease consenting for coal mining will have a lasting impact across generations. ...1 week ago
- Release: Public transport costs to double as National looks at unaffordable roading project insteadCancelling urgently needed new Cook Strait ferries and hiking the cost of public transport for many Kiwis so that National can announce the prospect of another tunnel for Wellington is not making good choices, Labour Transport Spokesperson Tangi Utikere said. ...2 weeks ago
- Release: Cost of living in Auckland still not a priorityA laundry list of additional costs for Tāmaki Makarau Auckland shows the Minister for the city is not delivering for the people who live there, says Labour Auckland Issues spokesperson Shanan Halbert. ...2 weeks ago
- Te Pāti Māori to visit Queensland to strengthen ties with Māori in AustraliaTe Pāti Māori co-leader Rawiri Waititi, and Mema Paremata mō Tāmaki-Makaurau, Takutai Tarsh Kemp, will travel to the Gold Coast to strengthen ties with Māori in Australia next week (15-21 April). The visit, in the lead-up to the 9th Australian National Kapa haka Festival, will be an opportunity for both ...2 weeks ago
- Greens look to fast-track submissions on harmful lawThe Green Party has today launched a step-by-step guide to help New Zealanders make their voice heard on the Government’s democracy dodging and anti-environment fast track legislation. ...2 weeks ago
- Release: Govt should stop making people’s lives harder and build more homesThe National Government’s proposed changes to the Residential Tenancies Act will mean tenants can be turfed from their homes by landlords with little notice, Labour housing spokesperson Kieran McAnulty said. ...2 weeks ago
- Release: Melissa Lee missing in action on mediaThe action Melissa Lee promised to protect democracy and the media sector is missing, Media and Communications spokesperson Willie Jackson said. ...2 weeks ago
- Landlord Government leaves little hope for rentersThe Government’s announcement on tenancy rules prove that it does not care about renters. ...2 weeks ago
- Opportunity to build a more sustainable economyGreen Party co-leader Marama Davidson is calling on all parties to support a common-sense change that’s great for the planet and great for consumers after her member’s bill was drawn from the ballot today. ...2 weeks ago
- Significant step forward in fixing cruel and unjust pastA significant milestone has been reached in the fight to strike an anti-Pasifika and unfair law from the country’s books after Teanau Tuiono’s members’ bill passed its first reading. ...2 weeks ago
- Missed opportunity but NZ will surely one day recognise the right to a sustainable environmentNew Zealand has today missed the opportunity to uphold the right to a clean, healthy, and sustainable environment, says James Shaw after his member’s bill was voted down in its first reading. ...2 weeks ago
- Release: Don’t cut our lunches – clear message sent to GovernmentTens of thousands of people are demanding the Government commits to fully funding free and healthy school lunches. ...2 weeks ago
- Release: Govt makes U-turn on Suicide Prevention OfficeLabour welcomes the Government’s U-turn on the closure of the Suicide Prevention Office, says Labour Mental Health spokesperson Ingrid Leary. ...2 weeks ago
- CCC issues warning over further climate delayToday’s advice from the Climate Change Commission paints a sobering reality of the challenge we face in combating climate change, especially in light of recent Government policy announcements. ...3 weeks ago
- Luxon targets lame and lousy example of leadershipIf talk is cheap, Chris Luxon’s “targets” are bankrupt. ...3 weeks ago
- Luxon targets are lousy example of leadershipIf talk is cheap, Chris Luxon’s “targets” are bankrupt. ...3 weeks ago
- Release: Commitment to disability communities missing from Govt prioritiesMinister for Disability Issues Penny Simmonds appears to have delayed a report back to Cabinet on the progress New Zealand is making against international obligations for disabled New Zealanders. ...3 weeks ago
- Anzac Commemorative Address, Buttes New British Cemetery Belgium
Ambassador Millar, Burgemeester, Vandepitte, Excellencies, military representatives, distinguished guests, ladies and gentlemen – good morning and welcome to this sacred Anzac Day dawn service. It is an honour to be here on behalf of the Government and people of New Zealand at Buttes New British Cemetery, Polygon Wood – a deeply ...8 hours ago - Anzac Commemorative Address – NZ National Service, Chunuk BairDistinguished guests - It is an honour to return once again to this site which, as the resting place for so many of our war-dead, has become a sacred place for generations of New Zealanders. Our presence here and at the other special spaces of Gallipoli is made ...1 day ago
- Anzac Commemorative Address – Dawn Service, Gallipoli, TürkiyeMai ia tawhiti pamamao, te moana nui a Kiwa, kua tae whakaiti mai matou, ki to koutou papa whenua. No koutou te tapuwae, no matou te tapuwae, kua honoa pumautia. Ko nga toa kua hinga nei, o te Waipounamu, o te Ika a Maui, he okioki tahi me o ...1 day ago
- PM announces changes to portfoliosPaul Goldsmith will take on responsibility for the Media and Communications portfolio, while Louise Upston will pick up the Disability Issues portfolio, Prime Minister Christopher Luxon announced today. “Our Government is relentlessly focused on getting New Zealand back on track. As issues change in prominence, I plan to adjust Ministerial ...2 days ago
- New catch limits for unique fishery areasRecreational catch limits will be reduced in areas of Fiordland and the Chatham Islands to help keep those fisheries healthy and sustainable, Oceans and Fisheries Minister Shane Jones says. The lower recreational daily catch limits for a range of finfish and shellfish species caught in the Fiordland Marine Area and ...3 days ago
- Minister welcomes hydrogen milestoneEnergy Minister Simeon Brown has welcomed an important milestone in New Zealand’s hydrogen future, with the opening of the country’s first network of hydrogen refuelling stations in Wiri. “I want to congratulate the team at Hiringa Energy and its partners K one W one (K1W1), Mitsui & Co New Zealand ...3 days ago
- Urgent changes to system through first RMA Amendment BillThe coalition Government is delivering on its commitment to improve resource management laws and give greater certainty to consent applicants, with a Bill to amend the Resource Management Act (RMA) expected to be introduced to Parliament next month. RMA Reform Minister Chris Bishop has today outlined the first RMA Amendment ...4 days ago
- Overseas decommissioning models consideredOverseas models for regulating the oil and gas sector, including their decommissioning regimes, are being carefully scrutinised as a potential template for New Zealand’s own sector, Resources Minister Shane Jones says. The Coalition Government is focused on rebuilding investor confidence in New Zealand’s energy sector as it looks to strengthen ...4 days ago
- Release of North Island Severe Weather Event InquiryEmergency Management and Recovery Minister Mark Mitchell has today released the Report of the Government Inquiry into the response to the North Island Severe Weather Events. “The report shows that New Zealand’s emergency management system is not fit-for-purpose and there are some significant gaps we need to address,” Mr Mitchell ...4 days ago
- Justice Minister to attend Human Rights CouncilJustice Minister Paul Goldsmith is today travelling to Europe where he’ll update the United Nations Human Rights Council on the Government’s work to restore law and order. “Attending the Universal Periodic Review in Geneva provides us with an opportunity to present New Zealand’s human rights progress, priorities, and challenges, while ...4 days ago
- Patterson reopens world’s largest wool scouring facilityAssociate Agriculture Minister, Mark Patterson, formally reopened the world’s largest wool processing facility today in Awatoto, Napier, following a $50 million rebuild and refurbishment project. “The reopening of this facility will significantly lift the economic opportunities available to New Zealand’s wool sector, which already accounts for 20 per cent of ...4 days ago
- Speech to the Southland Otago Regional Engineering Collective Summit, 18 April 2024Hon Andrew Bayly, Minister for Small Business and Manufacturing At the Southland Otago Regional Engineering Collective (SOREC) Summit, 18 April, Dunedin Ngā mihi nui, Ko Andrew Bayly aho, Ko Whanganui aho Good Afternoon and thank you for inviting me to open your summit today. I am delighted ...4 days ago
- Government to introduce revised Three Strikes lawThe Government is delivering on its commitment to bring back the Three Strikes legislation, Associate Justice Minister Nicole McKee announced today. “Our Government is committed to restoring law and order and enforcing appropriate consequences on criminals. We are making it clear that repeat serious violent or sexual offending is not ...4 days ago
- New diplomatic appointmentsForeign Minister Winston Peters has today announced four new diplomatic appointments for New Zealand’s overseas missions. “Our diplomats have a vital role in maintaining and protecting New Zealand’s interests around the world,” Mr Peters says. “I am pleased to announce the appointment of these senior diplomats from the ...4 days ago
- Humanitarian support for Ethiopia and SomaliaNew Zealand is contributing NZ$7 million to support communities affected by severe food insecurity and other urgent humanitarian needs in Ethiopia and Somalia, Foreign Minister Rt Hon Winston Peters announced today. “Over 21 million people are in need of humanitarian assistance across Ethiopia, with a further 6.9 million people ...4 days ago
- Arts Minister congratulates Mataaho CollectiveMinister for Arts, Culture and Heritage Paul Goldsmith is congratulating Mataaho Collective for winning the Golden Lion for best participant in the main exhibition at the Venice Biennale. "Congratulations to the Mataaho Collective for winning one of the world's most prestigious art prizes at the Venice Biennale. “It is good ...5 days ago
- Supporting better financial outcomes for KiwisThe Government is reforming financial services to improve access to home loans and other lending, and strengthen customer protections, Commerce and Consumer Affairs Minister Andrew Bayly and Housing Minister Chris Bishop announced today. “Our coalition Government is committed to rebuilding the economy and making life simpler by cutting red tape. We are ...6 days ago
- Trade relationship with China remains strong“China remains a strong commercial opportunity for Kiwi exporters as Chinese businesses and consumers continue to value our high-quality safe produce,” Trade and Agriculture Minister Todd McClay says. Mr McClay has returned to New Zealand following visits to Beijing, Harbin and Shanghai where he met ministers, governors and mayors and engaged in trade and agricultural events with the New ...6 days ago
- PM’s South East Asia mission does the businessPrime Minister Christopher Luxon has completed a successful trip to Singapore, Thailand and the Philippines, deepening relationships and capitalising on opportunities. Mr Luxon was accompanied by a business delegation and says the choice of countries represents the priority the New Zealand Government places on South East Asia, and our relationships in ...7 days ago
- $41m to support clean energy in South East AsiaNew Zealand is demonstrating its commitment to reducing global greenhouse emissions, and supporting clean energy transition in South East Asia, through a contribution of NZ$41 million (US$25 million) in climate finance to the Asian Development Bank (ADB)-led Energy Transition Mechanism (ETM). Prime Minister Christopher Luxon and Climate Change Minister Simon Watts announced ...1 week ago
- Minister releases Fast-track stakeholder listThe Government is today releasing a list of organisations who received letters about the Fast-track applications process, says RMA Reform Minister Chris Bishop. “Recently Ministers and agencies have received a series of OIA requests for a list of organisations to whom I wrote with information on applying to have a ...1 week ago
- Judicial appointments announcedAttorney-General Judith Collins today announced the appointment of Wellington Barrister David Jonathan Boldt as a Judge of the High Court, and the Honourable Justice Matthew Palmer as a Judge of the Court of Appeal. Justice Boldt graduated with an LLB from Victoria University of Wellington in 1990, and also holds ...1 week ago
- Education Minister heads to major teaching summit in SingaporeEducation 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 ...1 week ago
- Value of stopbank project proven during cycloneA 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 ...1 week ago
- Anzac commemorations, Türkiye relationship focus of visitForeign 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 ...1 week ago
- Minister to Europe for OECD meeting, Anzac DayScience, 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 ...1 week ago
- Comprehensive Partnership the goal for NZ and the PhilippinesPrime 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 ...1 week ago
- Government commits $20m to Westport flood protectionThe 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 ...1 week ago
- Taupō takes pole positionThe 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 ...1 week ago
- Cost of living support for low-income homeownersLocal 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 ...1 week ago
- Government backing mussel spat projectThe 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 - ...1 week ago
- Government focused on getting people into workBenefit 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 ...1 week ago
- Clean energy key driver to reducing emissionsThe 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 ...1 week ago
- Earthquake-prone buildings review brought forwardThe 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 ...1 week ago
- Thailand and NZ to agree to Strategic PartnershipPrime 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 ...1 week ago
- Government consults on extending coastal permits for portsRMA 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 ...1 week ago
- Inflation coming down, but more work to doToday’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 ...1 week ago
- School attendance restored as a priority in health adviceRefreshed 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 ...1 week ago
- Unnecessary bureaucracy cut in oceans sectorOceans 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 ...1 week ago
- Opinion: It’s time for an arts and creative sector strategyI was initially resistant to the idea often suggested to me that the Government should deliver an arts strategy. The whole point of the arts and creativity is that people should do whatever the hell they want, unbound by the dictates of politicians in Wellington. Peter Jackson, Kiri Te Kanawa, Eleanor ...1 week ago
- Palestine protesters challenge TVNZ over Israeli ambassador’s ‘propaganda’
Pacific Media Watch Palestine solidarity protesters today demonstrated at the Auckland headquarters of Television New Zealand, accusing the country’s major TV network of broadcasting “propaganda” backing Israel’s genocidal war on Gaza. About 50 protesters targeted the main entrance to the TVNZ building near Sky Tower and also picketed a side ...42 mins ago - Lynley Hood Opinion – Senator Fulbright must be spinning in his grave2 hours ago
- Fast-track bill could affect NZ's reputation – Transparency International
The ministers responsible for green-lighting major projects need to be open about potential conflicts of interest, says Transparency International. ...3 hours ago - We’re all feeling the collective grief and trauma of violence against women – but this is the pr...Source: The Conversation (Au and NZ) – By Anastasia Powell, Professor, Family and Sexual Violence, RMIT University It has been a particularly distressing start to the year. There is little that can ease the current grief of individuals, families and communities who have needlessly lost a loved one to men’s ...4 hours ago
- Species living closely together in symbiosis is far older and way more common than you might thinkSource: The Conversation (Au and NZ) – By Gregory Moore, Senior Research Associate, School of Ecosystem and Forest Sciences, The University of Melbourne Lichen, the first described example of symbiosis. AdeJ Artventure/Shutterstock Once known only to those studying biology, the word symbiosis is now widely used. Symbiosis is the intimate ...4 hours ago
- What is childhood dementia? And how could new research help?Source: The Conversation (Au and NZ) – By Kim Hemsley, Head, Childhood Dementia Research Group, Flinders Health and Medical Research Institute, College of Medicine and Public Health, Flinders University Olena Ivanova/Shutterstock “Childhood” and “dementia” are two words we wish we didn’t have to use together. But sadly, around 1,400 ...5 hours ago
- Jobseekers get about $345 less than pensioners each fortnight. This gap is hurting, and is set to wi...Source: The Conversation (Au and NZ) – By Peter Whiteford, Professor, Crawford School of Public Policy, Australian National University The government’s Economic Inclusion Advisory Committee has just published its second report. It was set up by Treasurer Jim Chalmers and Minister for Social Services Amanda Rishworth in 2022 to provide: ...5 hours ago
- Does fighting inflation always lead to recession? What NZ data tellsHere is what 60 years of New Zealand data shows us. ...6 hours ago
- The government's 20 trips abroad in AprilThe government appears committed to overseas visits with 14 ministers and MPs in 18 countries this month. ...7 hours ago
- Government unveils fetal alcohol guidelines, plan for diagnosis trainingThe government is promising to step up the response to Fetal Alcohol Spectrum Disorder, promising to boost diagnoses and raise awareness. ...7 hours ago
- Labor facing heavy defeat in Queensland, but faring better in federal pollsSource: The Conversation (Au and NZ) – By Adrian Beaumont, Election Analyst (Psephologist) at The Conversation; and Honorary Associate, School of Mathematics and Statistics, The University of Melbourne The Queensland state election will be held in October. A YouGov poll for The Courier Mail, conducted April 9–17 from a sample ...8 hours ago
- Why the potential for another Donald Trump presidency is making Iran very nervousSource: The Conversation (Au and NZ) – By Amin Naeni, PhD candidate at Alfred Deakin Institute for Citizenship and Globalisation, Deakin University There’s been much talk in recent months about what a possible second Donald Trump presidency in the United States could mean for Europe, Russia’s war in Ukraine, the ...8 hours ago
- ‘The worst piece of law proposed since 1979’: Reactions to the Fast-track Approvals Bill
A brief round-up of submissions on the controversial proposed law. This is an excerpt from our weekly environmental newsletter Future Proof. Sign up here. Last week, submissions on the controversial Fast-track Approvals Bill closed just hours after the government released a list of stakeholder organisations who were sent letters advising how they could ...9 hours ago - The Friday Poem: ‘Cereal giving’ by Robin PeaceA poem from Robin Peace’s new collection Detritus of Empire: feather / grass / rock. Cereal giving I see a woman’s hands, see her curious hands break a stalk as she walks through the tall prairie, the savannah, the steppe, wherever it was. See her idly bite the grass that ...9 hours ago
- The Unity Books bestseller chart for the week ending April 26The only published and available best-selling indie book chart in New Zealand is the top 10 sales list recorded every week at Unity Books’ stores in High St, Auckland, and Willis St, Wellington. AUCKLAND 1 Hemingway’s Goblet by Dermot Ross (Mary Egan Publishing, $38) A handsomely produced (debossed cover, lovely ...9 hours ago
- Te Rūnanga O Ngāti Whātua Welcomes Commissioner's Decision Regarding Awataha Marae
The Commissioner's decision validates the longstanding efforts of the local community and ensures that Awataha Marae will be managed to serve the needs of the local community, particularly for hosting tangihanga. ...10 hours ago - We reconstructed landscapes that greeted the first humans in Australia around 65,000 years agoSource: The Conversation (Au and NZ) – By Tristan Salles, Associate professor, University of Sydney Examples of Australian landscapes. Unsplash Seventy thousand years ago, the sea level was much lower than today. Australia, along with New Guinea and Tasmania, formed a connected landmass known as Sahul. Around this time – ...10 hours ago
- What do we lose when our old suburbs disappear?Source: The Conversation (Au and NZ) – By Felicity Castagna, Lecturer, Creative Writing, Western Sydney University Day Day Market, Parramatta Photo: Garry Trinh I live on the edge of Parramatta, Australia’s fastest-growing city, on the kind of old-fashioned suburban street that has 1950s fibros constructed in the post-war housing boom, ...10 hours ago
- Does fighting inflation always lead to recession? What 60 years of NZ data can tell usSource: The Conversation (Au and NZ) – By Michael Ryan, Teaching Fellow in Economics, University of Waikato GettyImages fatido/Getty Images There is an ongoing global debate over whether the high inflation seen in the aftermath of the COVID-19 pandemic can be lowered without a recession. New Zealand is not ...10 hours ago
- After spending $700,000 on pins for Covid-19 workers, department now cutting costsA government office that set aside millions for lapel pins for pandemic workers is now looking to cut back on spending. ...11 hours ago
- ‘A hell of a lot of fun’: Our reviews of Chris Isaak’s dazzling Auckland showThe ‘Wicked Game’ heartthrob is in his late 60s now. That didn’t stop him putting on a lively, goofy and very sparkly show. Apart from ‘Wicked Game’, which graces a sultry playlist of mine simply called 💋, my last sustained Chris Isaak listening session took place when I was about ...11 hours ago
- The Week in Politics: Days of drama and demotionsAnalysis - Two ministers were stripped of portfolios in a warning to Cabinet, drama broke out at the Waitangi Tribunal, and the gang patch ban bill ran into opposition. ...11 hours ago
- Hear me out: All I want is a TrueBliss T-shirtTara Ward makes an impassioned plea for some vital pop culture merch. In April 1999, I became obsessed with a new reality television show called Popstars. Every Tuesday night, five strangers transformed into music royalty before my very eyes as Joe, Keri, Carly, Erika and Megan were chosen to form ...12 hours ago
- Solemn ANZAC dawn service at PNG’s Isurava battle memorialPNG Post-Courier In the early hours of ANZAC Day, aerial photographs captured an impressive gathering of Australians and Papua New Guineans at Isurava in the Northern (Oro) Province. The solemn dawn service yesterday was held at a site steeped in history, where some of the fiercest battles of World War ...13 hours ago
- Political editors panel: A reshuffle and the fast trackListen - RNZ's Jo Moir and NZ Herald's Claire Trevett dissect the demotion of two ministers and the PM's response on Morning Report. ...14 hours ago
- After-hours clinics on verge of collapse in some regionsOverworked GPs have signalled they can no longer cover, while funding is falling short. ...14 hours ago
- Oranga Tamariki Axes Specialist Māori Roles, Weakens Commitment To Te Ao MāoriThe PSA is shocked that Oranga Tamariki has used the cost cutting drive to downgrade its commitment to Te Ao Māori and remove many specialist Māori roles. ...14 hours ago
- China’s money only goes so far – Kokoda shows why history binds PNG and Australia in a far deepe...Source: The Conversation (Au and NZ) – By Ian Kemish, Adjunct Professor, School of Historical and Philosophical Inquiry, The University of Queensland There can be no more powerful symbol of the relationship between Australia and Papua New Guinea than the prime ministers of these neighbouring countries walking together on the ...14 hours ago
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contrast Key’s approach to the world’s uber-rich…
with his approach to NZ’s beneficiaries….
it is easier to set up your illegal tax-dodging business in New Zealand than it is get a measly benefit to pay for a roof over your head. Check the difference between the paperwork, hoops and loops, and time taken for each …
Key is the Prime Wanker of New Zealand
In the end Natz will announce an enquiry, a review, a consultation…..and pass around until the election and then announce tougher laws
What did you expect from the banksta selected for his sales technique, groomed, parachuted into a stacked helensville pre-selection, advised by CT, councilled by global corporations as he is backed by the hollowmen
They will use their influence over the msm to play this down which with mediawonks now run by another banksta is a doddle really.
That doesn’t actually make the laws poorly designed. IMO, it’s proof that they were designed that for the purpose of tax avoidance and with the lobbyists from the companies pushing for them to be that way.
National is all about ensuring that multi-national companies and rich people in general don’t have to pay tax.
There’s a reason why research shows that all money flows to the rich – it’s because the entire system has been designed to do just that.
I do wonder if the Key government and supports will keep up with the truly odd argument put forward by the Muppet king himself in parliament the other day.
“The poor rich people need somewhere to hide their money just in case of revolution or a government who raises taxes.”
It seems that papers are proving, that criminals are a major beneficiary of these laws.
So tough on crime if your poor. But a government of enabling – if you are a rich criminal.
Trust the Tories to talk tough, then like the bullies they are, punish the weakest.
Of course we keep hearing that our dollar is too high, it disadvantages our manufacturers and primary producers, it moves jobs off shore because we are not competitive enough.
We’ve been told our currency is ‘popular’ it’s the carry trade, Japanese housewives, that drives up our dollar (and our mortgage rates) ….
Now it turns out it’s millions and millions of dollars of black-economy money being shuffled in and out of secret untaxed foreign trusts that’s the cause of a lot of this …
Next time the farmers moan about the dollar and their Fonterra returns remind them of why the dollar is so high
Nothing is what Key does best – the only thing he was ever any good at.
As a PM yes, as a banker a right little shark getting bigger by the day,a major player in destroying economies et he touches turns gold for him and shit for the poor bastards who have to suffer the little tyrant
What do you expect in a country like NZ which once led the world rankings in the OECD in the 1970’s, now in the mid to late 20’s and tanking?
Once the madman Muldoon got hold of this country’s pension fund and went hog wild on his THINK BIG PROJECTS, and put the country at financial risk, then we were subject to the arch traitor of all time who sold off State Assets for a pittance to his colleagues Fay Richwhite and Alan Gibbs etc
NZ has never recovered and now relies on overseas borrowing and further State Asset Sales which had been paid for by the taxpayer over the past 175 years.
John Key is immersed in the world of global asset realisation [deleted]
[Hope I don’t see a repeat performance of that sort of tripe. Seriously. Hope I don’t]- Bill
Since when is anti-semitism acceptable on this blog? This comment is extremely offensive and should be removed.
[It’s not acceptable. A bit late in being picked up, but stupid and offensive portion of comment now removed] – Bill
Correct. Bankster oligarch scum come from all kinds of race, nationality and religious backgrounds.
In Iceland they jail bankers, in New Zealand we give them knighthoods?
All that needs to be done is to let delinquent banks fail. Don’t bail them out with corporate welfare funded from taxation. That will wake up both bankers and their customers to the fact that actions have consequences.
Socialist Democracies and govts in general are the enemy of capitalism, basic capitalist doctrine .So you would see by Keys actions we are goin g to financial ruin all part of overall plan to have govt the servant of capitalism and for capitalism in its own right to step in when the govt is insolvent and the people once again become serfs
The lack of action on foreign trusts is incredible in relation to the stringent restrictions being applied to New Zealand individuals and companies.
Here is yesterday’s article by Vernon Small. He came up against the government’s anti-money laundering legislation when he was trying to process a cheque from Inland Revenue. This is top heavy regulation and an overhead for banks and everyone that uses them. http://www.stuff.co.nz/national/politics/opinion/78612250/panama-papers-new-zealands-trusted-reputation-demands-changes-to-foreign-trust-rules
Here is an article about well run, profitable, tax-paying New Zealand companies whose closure has been brought about by the Financial Markets authority money laundering criteria. http://www.scoop.co.nz/stories/PO1604/S00083/tax-avoiders-profit-while-profitable-companies-outlawed.htm
These regulations forced the closure of i-predict for example when Minister Simon Bridges declined their application for a special dispensation
“on the grounds that we are 'a legitimate money laundering risk'. This is essentially because we have no customer due diligence checks. He considered the level of regulatory burden is proportionate to the risk. He formed these views without any discussions with us”. http://www.scoop.co.nz/stories/PO1511/S00410/ipredict-to-wind-up-operations-in-nz.htm
NZ does seem to have legislated to harm local enterprise while empowering foreign unethical and criminal enterprise.
Neoliberal globalist agenda.
Just reflecting on the pre 2008 election when JokeyHen appeared to be unsure who Lord Ashcroft might have been visiting in New Zealand. When pressed by the interviewer (Fran Mold from memory) he admitted that he himself had met with Ashcroft at his home. Probably nothing to see here … everyone’s comfortable … yeah.
Song for John
https://www.youtube.com/watch?v=bLicnk5HA70