web analytics
The Standard

Today’s Economic Roundup

Written By: - Date published: 10:16 am, March 10th, 2011 - 33 comments
Categories: business, economy, monetary policy - Tags:

The Reserve Bank has this morning slashed interest rates by 0.5%.

This is good news for mortgage-owners as the major banks have dropped their floating rates by the same amount.  It is less good news for drivers as this will continue the slide of the kiwi dollar, and the ever-rising oil prices will rise even faster in New Zealand dollar terms.  Expect to hit record petrol prices within a couple of weeks.

Bernard Hickey worries the cut will lock in inflation, with it already forecast to shortly rise over 5%.  Briscoes were already suggesting a lean year for importing retailers as people don’t buy and the rise in dollar cuts margins.

The Reserve Bank felt compelled to make the cut as the earthquake will mean that the likely 2 quarters of recession (last half of 2010, cause: National’s policies) will become a definite 3 quarters of recession as the earthquake wipes out any chance of improvement in the first part of this year.   And it’s also good news for our farmers with record commodity prices combining well with a weaker dollar meaning they get more NZ$ for their output.  Indeed a weaker dollar is generally better for the economy as it helps our exporters and discourages us from buying foreign goods – that’s why China keeps the yuan artificially low.

Away from that, with Auckland suffering a housing shortage, 15,000 families awaiting a Housing NZ home, and now 10,000 homes in Christchurch destroyed and needing replacing, Sovereign Homes has gone into liquidation due to a lack of new building.  Formerly employed skilled tradesmen are joining the exodus overseas.  Like a number of firms, Sovereign struggled through 2008 & 2009, only to be taken out by National’s double-dip recession.  Economists expect more firms to follow suit.

33 comments on “Today’s Economic Roundup”

  1. Sanctuary 1

    We’ve got an economy under the strain of surging inflation and a double dip recession. Bill English’s only “solution” seems to be the final solution.

    After three years of National we’ve got the most serious economic death spiral on our hands since the 1930’s. What is worse, Bill English and John Key are in total denial – they are actually claiming people are better off! Jesus wept.

    They have not got a single idea what to do next, beyond more from the Herbert Hoover playbook of economic disaster.

    • ZeeBop 1.1

      We have a housing shortage, a exodus of skills, a government that excels in adding extra uncertainty to the mix in their useless leadership of delusion and lies. Citizens make our economy and citizens are voting with their feet heading for the airport. National think nothing about raiding savings, pushing wages lower, pouring water on safety nets forcing employees to travel with a larger financial buffer and hold off buying a home. Oil prices are up again! National have done nothing for two years as everyone knew they would return! How can anyone still trust National?

  2. Colonial Viper 2

    Stagflation

    Strangely, many economists don’t think it can happen (according to their BS monetary theories), but those who do often see it as a result of a massive bubble bursting resulting in high unemployment yet increasing prices from the left over concentrated wealth of the bubble.

    http://en.wikipedia.org/wiki/Stagflation

    Bill and John won’t know how to cope with this situation. They have a couple of months tops to set things right or the next Labour Govt will have a shitload of firefighting work to do next year.

    • Rosy 2.1

      “Strangely, many economists don’t think it can happen”
      Weren’t they around in the 1970s?

      • Colonial Viper 2.1.1

        Yes you are quite correct. They didn’t think it could happen at that time, and then it did happen, (after which of course they had to concede it was a possibility) but their theories AFAIK are still extremely uncertain as to what caused it and whether it could happen again.

        The original idea was simple – in times of high unemployment, aggregate demand in the economy would fall, hence inflation would be low. That’s not the way it panned out in the 1970’s as you know. Rising fuel prices then (oil shocks) were a major contributor. And we may be facing oil shocks again in the next year.

        • Bored 2.1.1.1

          History never repeats….yeah right.

          The vast majority of economists follow the established orthodoxy, which I say cynically is very linked to their paymasters best interests. This gives a massive incentive to remain orthodox even when all evidence is to the contrary, selective vision being the symptom. Its been the same with tea leaf readers, chickens entrail examiners and other high priests since forever.

          One thing the economists are going to find very hard to get their thinking around is not only stagflation but also the end of “growth” as they currently measure it. Schumakers Small Is Beautiful is a good place for them to start.

        • The Economic Illiteracy Support Group 2.1.1.2

          In this case the cause of stagflation is easy to spot – there are hard limits being reached on essential economic inputs such as oil and metals, which is driving up import prices. This is effectively “imported inflation” which is 100% resistant to any Reserve Bank policies; the inflation due to demand outrunning supply in the world markets will occur no matter what the interest rates are in NZ.

          So we are stuck in a strange hybrid world – the external economy is inflating as demand outruns supply, but the internally traded NZ economy is heavily deflationary as local growth contracts; hence stagflation. The effect can be seen in your weekly grocery bill (or petrol tank fill) where anything that is traded internationally as a commodity (petrol, milk, wheat) or which depends on one of those commodities as an input is rapidly increasing in price. On the other side of the equation, the value of locally produced goods and services that are not critically dependent on commodities (say, a haircut) are decreasing in value as too much supply chases too little demand. This will continue until demand destruction due to high prices in the commodity markets occurs, and prices fall internationally, eventually flowing through to the local NZ economy.

          Thankfully Alan Bollard is not the extremist ideologue that Don Brash was, and seems to recognise that the internal deflationary challenges are where he should be focusing his attention, rather than trying to choke off imported inflation by increasing interest rates (which is an insane policy almost by definition).

          And just as an aside, the country’s experience over the last 12 months indicates that strongly rising prices for our international commodities (i.e. dairy) completely fail to flow through to the wider economy. The benefits of high dairy prices are felt amongst Fonterra’s 11,000 shareholders and their direct suppliers, but not much wider than that If commodity prices were a magic bullet, the country would not have gone into recession in the fourth quarter of last year.

          • Colonial Viper 2.1.1.2.1

            This will continue until demand destruction due to high prices in the commodity markets occurs, and prices fall internationally, eventually flowing through to the local NZ economy.

            Unfortunately when we talk about “demand destruction” surrounding dairy, hort and ag products we’re basically talking about starvation in many quarters of the developing world, combined with food poverty in the developed world. Yeah that should be an oxymoron I know.

            • The Economic Illiteracy Support Group 2.1.1.2.1.1

              Given that the current neoliberal orthodoxy only allows one kind of rationing – price – I think you’re entirely right. I do wonder what people in a few hundred years time will think of that kind of moral bankruptcy.

    • Draco T Bastard 2.2

      From what I can make out, stagflation is a result of the fact that fixed costs cannot be removed. This means that every business needs a minimum income to cover those costs but, with rising unemployment, more and more people spend less reducing turnover which means that profit on each individual item needs to be higher to get the same total return.

      Businesses are putting up prices to cover their fixed costs (which are also rising) as turnover reduces due to unemployment and laying off people to minimise their variable costs which reduces turnover.

      • Herodotus 2.2.1

        DTB not just fixed costs – So not only are nontradables going up e.g. power, rates. But also what our economy is based on oil, but this is compounded by the commencement of a devaluing currancy, which then negates what has previously kept inflation low – Imported consumables.
        In your “with rising unemployment, more and more people spend less reducing turnover which means that profit on each individual item needs to be higher to get the same total return.” there are only a very few industries that are able to do this – primarily The Banks, Power coys, potentially supermarkets . Around either 7:15 or just after 8:00 on ZB there was a spokesperson for NZIER and Bank economist talking about chances of OCR cut. The NZIER even commented regarding the banks ongoing profitable levels being maintained.

        • Colonial Viper 2.2.1.1

          Banks have become a parasitic leach on the economy.

          Even as the host turns anaemic and pale they keep sucking at the same rate.

  3. Pascal's bookie 3

    P1)We have an independent reserve bank tasked soley with monetary stability.

    P2)We have inflation running at around 4-5%

    P3)The official base rate was just cut to 2.5%, or about half the current inflation rate.

    ergo

    C) Is that the time? Goodness me.

  4. Bored 4

    For all you watchers of trends….the DOW Jones average which was at 14000 in October 2008, crashed to around 7000 in March 2009. With the bailout it has run back up to 12000 today.

    Oil in September 2008 spiked to US$120 per barrel…it has increased in the last month by 20% to US$105, with Brent Crude reaching US$118. Concurrently corn has increased in price during the last year by 93%.

    We in NZ are at the periphery of the empire. They sneeze, we catch colds. Draw your own conclusions.

  5. Salsy 5

    The company i work for just announced we are going to be forced to do a 4 day week. It feels like the beginning of the end – theyve been losing money for a while now. My partner works so if i lose my job we still survive plus I can freelance. What worries me the most, is all the people who have families and mortgages depending on that income, really sad…

    • Colonial Viper 5.1

      Can the company do better than it is at the moment?

      Could the employees buy it out for nothing and turn it into a worker owned co-op?

      • neoleftie 5.1.1

        ohhh that is interesting..actaully if the govt can loan money to the mediacorp then why not set up a fund at no or small interest and loan it for start-up worker Co-ops.
        Will look for productivity figures based on Co-ops vs traditional ownership models

  6. neoleftie 6

    well the oucome is looking increasingly dark – did you notice the bodylanguage and language of bollard – “Uncertainity”, “I hope” and “unknown” were some of the words used to discribe the current economic situation. Cutting the ORC is all well and good but wage rise pressure ( RAISED MIN WAGE ) and increased import prices are all causing inflationary effects.
    The system is very very unbalanced and spiraling downwards.
    Interest rate have fallen already in response to the fall in the ORC but this just wont stimulate internal business investment to the levels needed to stabilise the job market, decrease unemployment and in turn increase private spending. Businesses are struggling now, profits down,..spiraling out control..

    Tories are in a massive bind now..
    1) can they reprioritise spending without casuing unemplyment to rise? ( peter to paul )
    2) can they borrow more to prop up the economy? prudent advice suggests no.
    3) they cant cut the tax rake as there is a projected short-fall over the next 3 years.
    4) the cant print more – too many inflationary influencers now.

    options anyone???
    Look to cunliffe to expand the tax rake
    – tax short-term monetary flows.

    • Zaphod Beeblebrox 6.1

      If you adopt 4) you don’t need to worry about 2). The increased tax take due to improved spending will mean you don’t need to worry about 1) or 3) either.

      What about inflation you say? Well things like oil prices, food prices and insurance aren’t affected by anything they do- so whats the harm, its not like NZ businesses or strapped for work and customers at the moment.

    • Colonial Viper 6.2

      The Tories actually have some options, but they will not consider them seriously because they are ideologically incongruent with what National has already planned out.

      As someone else mentioned today, large portions of the inflation NZ is experiencing is imported inflation. Nothing we do onshore is going to affect that. Food prices are high because we are being forced to pay global rates, not because we are willing and able to pay more for milk. Changes in the OCR or printing money won’t change that. Petrol is high because we are being forced to pay global rates, not because we are able and willing to pay more for premium. Changes in the OCR or printing money won’t change that.

      Further, why should annual inflation of 5% or 6% be considered a problem, when unemployment at close to 7% is no big deal?

      What I would suggest –

      1) Tax and spend. Create direct employment, bump up benefits, expand services and facilities for citizens, lower the low band income tax rate. This will push money into the economy.

      2) Destroy debt. Print every adult NZ citizen a cheque for $1000 which can be used only to pay down bank and utilities debt incurred before 2011. (A slightly higher level of inflation destroys debt faster as well).

      3) Low interest, low fee loans to productive enterprises for capital equipment. (e.g. through KiwiBank)

      If it becomes necessary to control inflation.
      – Jack up the income tax rate on higher earners and middle income
      – Raise bank CFR
      – Increase compulsory element of KiwiSaver.
      – Make it harder to qualify for personal loans and loans for 2nd and 3rd properties.

      In general we also have to reduce our use of oil because oil is gonna be very expensive.

      edit – I see Zaphod you made some similar points

      • neoleftie 6.2.1

        Yes CV but tax who and at what rate? realistically.
        We cant print money as this is hugely inflationary, obviously we face enough inflationary measure offshore that is impacting on consumable prices lessening spending.
        This is hunker down / batten the hatches time for the private sector facing huge uncertainity.
        The state must step up expenditure but how?
        See we are in a bind even with the ten billion of offshore insuance money that is going to flood into the economy in about 6 – 18 months

        • Rosy 6.2.1.1

          A robin hood tax I’m still trying to see the downside on this. The financiers that caused the problem shoulder some of the burden.

          • neoleftie 6.2.1.1.1

            that Rosy is something that all those of the wide left totally agree about…ping the hotmoney men, the speculators who just take take take and do nothing for the common person apart from massive contributions in private spending.

            • Rosy 6.2.1.1.1.1

              Meanwhile we sit on our hands waiting for Labour to provide more background on their economic policy.

              • Herodotus

                A robin hood tax I’m still trying to see the downside on this. Whilst we have a base current aqcount deficit – Sure since Nat got in this has reduced from 8% to about 2%. Much of this is attributable to that NZ took heed of our debt problem, many individuals/families cut expenditure and reduced debt due to the foreseable looming issue that is here. Uncertainity of jobs.
                The issue is globalisation – NZ legistales for this tax – Multi nats look else where where their money earns greater returns for marginal risk (remember that as our debt levels increase and there are only a few industries that ean there way here) our risk profile increases and we pay premiums for offshore money. So there is potential exit offshore NZ then goes back to the late 70’s when govt had to control money flows. Farmers had to have offshore $ to buy cars machinery etc. How else could this effect us – lack of immigrants wanting to enter, lack of repatriation, reduced offshore technol;ogy e.g. up to date medical facilities. And unlike your link NZ is not a financial hub yet ( it will come JK has this as an aim ) with institutionalised banking system as London is.
                then there are multi nat who just float around the world utilising arbitage leverage to pick and choose what is best for them. e.g.
                http://www.bloomberg.com/news/2010-10-21/google-2-4-rate-shows-how-60-billion-u-s-revenue-lost-to-tax-loopholes.html
                defination of Arbitage Leverage for assistance
                http://en.wikipedia.org/wiki/Arbitrage
                Unfortunately we are price takers, having to accept whatever the world will offer to us, not price setters.
                And printing more $$ does not contribute much to the money supply. Think of all the kiwi$ that have been created out of nowhere bythe banks
                http://www.economicshelp.org/blog/inflation/money-supply-inflation/
                http://en.wikipedia.org/wiki/Money_supply
                Must be getting late and I am being lazy 2 wiki links in one post !!!

                • Rosy

                  These links make me even keener on a transaction tax limited to speculative financial transactions.
                  “The German and French governments are both pushing this; Austria and Spain are in support and today the European parliament threw its weight behind a tiny tax on financial transactions that could help us fulfil our commitments to tackling poverty and climate change, and help prevent such huge cuts in public spending…The European politicians voted on resolutions that concluded that if imposing the financial transaction tax worldwide was too difficult, then the EU should press ahead and impose it at a European level.”

                  Even the IMF believe financial institutions should be subject to new taxes, although it favours a bank levy and a financial activities tax on the sector’s profits and pay . Although as you point out banks can avoid profit-based taxes as Barclays has shown. A tax on speculative transactions would be far harder to avoid.

        • Zaphod Beeblebrox 6.2.1.2

          Govt bonds, low interest rates or printing money. What’s the diff?

          • neoleftie 6.2.1.2.1

            depends on the mix and inflationary affect

            • Zaphod Beeblebrox 6.2.1.2.1.1

              With low interest rates the money is borrowed from off-shore with the others you don’t have to borrow a cent. If you have excess human and economic capacity I really don’t see whats the problem with creating more of your currency.

              The US Fed did it and are they are hardly having horrendous inflationary problems.

              Japan responded to their economic slowdown in the 1990s by choking off government spending and they ended up with zero interest rates and virtual deflation- didn’t work out well for them.

        • Colonial Viper 6.2.1.3

          In an industrialised productive economy with high unemployment printing money is not inflationary.

          If that money is used to destroy debt for instance, and not put into general spending, it definitely is not inflationary.

          If that money is put into productive equipment, it definitely is not inflationary.

          You asked who we should tax. I would say that is the wrong question. The correct question is what should we tax. And the answer is – assets and land/property. Possibly also financial transactions.

          The state must step up expenditure but how?

          I already told you in this posts and above. Start cutting cheques for people to use. Start employing people directly. Get projects on the boil.

Links to post

Recent Comments

Recent Posts

  • Steven Joyce takes the scalpel to medical students
    This November access to the Student Loan scheme will be cut off at seven years seriously harming medical students. Studying to become a doctor takes years of hard work, dedication and intense study and it’s a blunt tool and… ...
    GreensBy Gareth Hughes MP
    18 hours ago
  • Tolley must assure safety of vulnerable clients
    Social Development Minister Anne Tolley must guarantee the safety of Relationships Aotearoa’s thousands of Māori clients – some of whom are very vulnerable – following the closure of the nationwide counselling service, Labour’s Māori Development spokesperson Nanaia Mahuta says. Relationships… ...
    21 hours ago
  • ANZ has moral obligation to fully compensate farmers
      The ANZ Bank has a moral obligation to fully compensate farmers after the High Court today declared it breached the Fair Trading Act by misleadingly representing interest rate swap loans, Labour’s Primary Industries spokesperson Damien O’Connor says. The Commerce… ...
    2 days ago
  • Fairfax can’t use restructure to cut terms and conditions
    The restructure and upheavals at Fairfax should not be used as an opportunity to cut journalists’ terms and conditions, Labour spokesperson for Labour Issues Iain Lees-Galloway says. “Businesses have to adapt to new technologies and consumer demands and there is… ...
    2 days ago
  • McCully excuses unravel in Saudi sheep scandal
    Murray McCully has misled New Zealanders, Parliament and his Cabinet colleagues on the real reasons for paying millions of dollars in the Saudi sheep scandal – it’s time for him to clean, says Labour’s Export Growth and Trade spokesperson David… ...
    2 days ago
  • Nats break health and education spending promises
    National has outstanding promises of almost $1 billion to be spent on health, education and agriculture from the Future Investment Fund but has only $536 million left in the fund, says Labour’s Finance spokesperson Grant Robertson. “John Key and Bill… ...
    2 days ago
  • Manurewa youth leaders acknowledged
    The depth and breadth of leadership of youth throughout Manurewa, which has been recognized at the Youth Week Award ceremony held at Parliament this week, should make the community extremely proud, Manurewa Labour MP Louisa Wall says. “The 'Limitless Youth… ...
    2 days ago
  • Oi Auckland Transport: fare’s fair
    Auckland Transport should go back to the drawing board on its proposal to charge commuters for its park-and-rides, Labour’s Transport spokesperson Phil Twyford says. “When we need to be getting people out of their cars and onto public transport, it’s… ...
    2 days ago
  • Is Nick Smith making it up as he goes along?
      Housing Minister Nick Smith must release the list of Crown land parcels which formed the basis of the Government’s Budget announcement, Labour’s Housing spokesperson Phil Twyford. “If the public is to have any faith the Government is not just… ...
    2 days ago
  • Norway moves first to dump coal investments
    The Green Party today called on the Government to secure cross-party support to sell its investments in coal mining companies.The Norwegian Parliament's finance committee agreed in a bipartisan motion yesterday to instruct the $1.2 trillion Government Pension Fund to sell… ...
    GreensBy Russel Norman MP
    2 days ago
  • Fonterra payout $13b black hole over 2 years
    Fonterra’s dramatic cut to its forecast farmgate payout over this season and next will lead to a $13 billion black hole over two years, and shows the need for a plan to diversify the economy, says Labour’s Finance spokesperson Grant… ...
    2 days ago
  • Labour calls for select ctte inquiry into Rural Broadband Initiative
    Labour is calling for an immediate inquiry into the flailing $300 million rural broadband initiative, before companies and consumers are forced to pick up the tab for the new $150 million broadband tax, says Labour’s ICT spokesperson Clare Curran. “Rural… ...
    2 days ago
  • Public broadcasting takes big hit under National Government
    Public broadcasting funding has been cut by 25 per cent in real terms since the National Government took office in 2009, leading to the erosion of our once world-class news and current affairs culture, says Labour Broadcasting Spokesperson Clare Curran. … ...
    2 days ago
  • Hospital food plan hits another snag
    The Government has been left with egg on its face with Hawke’s Bay District Health Board today giving a plan to outsource hospital food services the thumbs down, Labour’s Health spokesperson Annette King says. “Doing away with local kitchens by… ...
    3 days ago
  • Hospital food plan hits another sang
    The Government has been left with egg on its face with Hawke’s Bay District Health Board today giving a plan to outsource hospital food services the thumbs down, Labour’s Health spokesperson Annette King says. “Doing away with local kitchens by… ...
    3 days ago
  • Wilkinson appointment wrong in principle
    The appointment of former Conservation Minister Hon Kate Wilkinson as an Environment Commissioner is wrong in principle, says Labour’s Shadow Attorney-General David Parker. “The doctrine of separation of powers requires judicial processes to remain separate and independent from the legislature… ...
    3 days ago
  • McCully doesn’t deny bribe in Saudi sheep scandal
    “In Parliament today I asked Murray McCully directly: Why is he the first Minister in history to back a multi-million dollar facilitation arrangement which in other jurisdictions is called a bribe? says Labour’s Export Growth and Trade spokesperson David Parker.… ...
    3 days ago
  • National must back our future doctors
    National must support our future doctors and agree to the calls from the Medical Students’ Association and the Young Nats to lift the arbitrary 7 year cap on student loans for medical and dental students, Labour’s Tertiary Education Spokesperson David… ...
    3 days ago
  • Taxpayer the loser after Government folds
    Steven Joyce today admitted the main exhibition hall at the New Zealand International Convention Centre is 19 per cent smaller than what was described at the time other bidders were edged out of the process, Labour’s Economic Development spokesperson David… ...
    3 days ago
  • Govt’s lack of ambition for women
    Yesterday, the Government put out a media release entitled “Number of women leaders continues to grow”. It was to inform us that the percentage of women on state-appointed boards has increased to 41.7%, up from 41.1% in 2013. Well, woo-hoo… ...
    GreensBy Jan Logie MP
    3 days ago
  • Auditor-General exposes Key’s scapegoating of Council
    The National Government's blaming of Auckland Council for the city’s housing crisis has been exposed as scapegoating in the Office of the Auditor-General’s latest report, Labour’s Housing spokesperson Phil Twyford says. “The Auditor-General says Auckland Council’s part in fixing the… ...
    3 days ago
  • Reform – not money – needed for meat sector
    The National Government continues to throw good money after bad at the meat industry instead of addressing the fundamental problem of its dysfunctional structure, Labour’s Primary Industries spokesperson Damien O’Connor says. “The latest Primary Growth Partnership grant to the venison… ...
    3 days ago
  • Government cuts corners on school bus funding
    The safety of children – not cost cutting – should be the main objective behind the Government’s funding of school buses, Labour’s Education spokesperson Chris Hipkins says. “Buried in the detail of this year’s Budget are $19 million of funding… ...
    3 days ago
  • Women the losers under National’s cuts
    National’s poor performance in appointing women to state sector boards is set to get worse with funding cuts to the nomination service provided by the Ministry for Women, Labour’s Woman’s Affairs spokesperson Sue Moroney says. “Minister for Women Louise Upston… ...
    3 days ago
  • Help sought by agencies now asked to help
    The organisation Social Development Minister Anne Tolley has tasked with setting up an emergency hotline for stranded Relationships Aotearoa clients has just lost a bid for a government contract to launch a new national helpline, Labour’s Acting Social Development spokesperson… ...
    3 days ago
  • Wellington got loud again on climate
    On Monday night, in Wellington, I attended the last of the Government’s climate target consultation meetings. It was quite well attended with maybe 150 people, not bad for a second meeting with very little notice and, as far as I… ...
    GreensBy Jan Logie MP
    3 days ago
  • Final nail in coffin for Solid Energy workers
    Today’s confirmation of job losses at Solid Energy’s Stockton and Spring Creek mines shows the urgent need for new economic opportunities on the West Coast, Labour’s MP for West Coast-Tasman Damien O’Connor says. “Our economy can no longer rely on… ...
    4 days ago
  • Ramadi proves Iraq deployment high risk, low benefit
    The fall of Ramadi and the collapse of the Iraqi Army proves Labour was right to be concerned about the deployment of our troops to Iraq, Labour’s Defence spokesperson Phil Goff says. “The fall of Ramadi brings IS fighters within… ...
    4 days ago
  • English admits new taxes on the cards
    Eight months after pledging “no new taxes” at the election Bill English today admitted he would bring in more sneaky taxes along the lines of the border tax, says Labour’s Finance spokesperson Grant Robertson. “Not only did National bring in… ...
    4 days ago
  • What the Dickens is going on at SDHB?
    Problems at the financially-strapped Southern District Health Board appear to stretch to its HR department with information obtained by Labour showing it still records staff leave entitlements using manual book-keeping methods. “The Board’s draft 10-year plan document forecasts a cumulative… ...
    4 days ago
  • Teachers turn backs on new professional body
      The fact that just 56 per cent of nominations for the Education Council came from registered teachers shows the profession has turned its back on Hekia Parata’s new professional body, Labour’s Education spokesperson Chris Hipkins says. “Answers to written… ...
    4 days ago
  • No spade work done on big building plan
      Only a quarter of the 500 hectares of Crown land the Government wants to use for new homes is understood to be suitable for building on, Labour’s Housing spokesperson Phil Twyford says. “This was National’s bold new idea to… ...
    4 days ago
  • National: Seven KiwiSaver cuts in seven years
    National’s campaign of KiwiSaver cuts has reached seven in seven years as it dismantles KiwiSaver block by block, Labour Leader Andrew Little says. “KiwiSaver is critical to establishing a savings culture in New Zealand but National has taken a jenga-style… ...
    4 days ago
  • Tolley’s actions contradict reassurances
    Social Development Minister Anne Tolley has serious questions to answer following the forced closure of Relationships Aotearoa just days after her reassurances she was looking at ways to keep the service operating, Labour’s Acting Social Development spokesperson Annette King says.… ...
    4 days ago
  • SkyCity downsize another broken promise
    The downsized SkyCity Convention Centre does not deliver on the promised iconic world-class centre and shows the true extent of Steven Joyce’s incompetence, Labour Leader Andrew Little said today. “New Zealanders were promised an iconic world-class convention centre that would… ...
    4 days ago
  • Te Arawa partnership model a step closer
    Councils around New Zealand have an opportunity to improve their consultation with Iwi Māori by following Rotorua District Council’s Te Arawa Partnership Model, Labour’s Māori Development spokesperson Nanaia Mahuta says. “The Rotorua District Council will today decide whether to adopt… ...
    4 days ago
  • Labour mourns Dame Dorothy Fraser
    Labour Leader Andrew Little said the party is today mourning the loss of the youngest person to join the Labour Party, Dame Dorothy Fraser, who went on to be a stalwart of the Dunedin community and tireless worker for others.… ...
    5 days ago
  • The ultimate scapegoat: PM blames fruit fly for new tax
    The Prime Minister has found the ultimate scapegoat for breaking his promise not to introduce a new tax – the Queensland fruit fly, Labour’s Biosecurity spokesperson Damien O’Connor says. “John Key’s first policy upon taking office and assigning himself the… ...
    5 days ago
  • How many victims missing out on protection?
    Hundreds of domestic abuse victims could be missing out on getting protection orders because they are unable to get legal aid, Labour’s Justice spokesperson Jacinda Ardern says.“In the last two years some 351 people who applied for legal aid for… ...
    7 days ago
  • Government kicks hardworking whanau
    A major incentive to help young Kiwis and people on low incomes to start saving has been kicked out from under them with the National-led Government ramming through short-sighted legislation under Urgency today, Labour’s Maori Development Spokesperson Nanaia Mahuta says.… ...
    7 days ago
  • Speculator tax political stunt gone wrong
    Bill English’s admission he doesn’t know whether National’s new speculator tax will have any effect shows last weekend’s announcement by the Prime Minister was a desperate political stunt, says Labour’s Housing spokesperson Phil Twyford. “This Government is so desperate to… ...
    7 days ago
  • The value of parenting
    This week, as part of the Budget, the government introduced a bill to address child poverty. This bill will require parents receiving income support to look for part-time work once their youngest child is three years of age rather than… ...
    GreensBy Jan Logie MP
    7 days ago
  • Another new tax, another broken promise
    National has unveiled yet another new tax in this budget – a rural broadband levy that will almost certainly result in an immediate price hike for internet and telephone connections across New Zealand, Labour’s ICT spokesperson Clare Curran said “The… ...
    1 week ago
  • Anniversary of Sri Lankan Tamil Massacre
    This is not going to be a happy story but if the Green Party of Aotearoa doesn’t want to know who else will? May 18th marks the anniversary of what is known as the ‘Mullivaikal massacre’ of Tamils in 2009 at… ...
    GreensBy Catherine Delahunty MP
    1 week ago
  • Labour MPs join youth to take part in 40 hour famine
    A team of Labour MPs took part in the 2015 World Vision 40 hour famine and we were told by World Vision and the young people, that it was the first time MPs had joined them and how appreciative they… ...
    1 week ago
  • Rodeo: ‘Family entertainment’ or animal abuse?
    Recently  TVNZ ran a story with confronting footage showing rodeo animals being punched, repeatedly shocked with electronic prods and having their tails violently twisted over their backs. It was clear that significant force was being used behind the scenes to make… ...
    GreensBy Mojo Mathers MP
    1 week ago
  • Budget puts the squeeze on police
    The Government has cut funding to the New Zealand police force in the latest Budget, says Labour’s Police spokesperson Kelvin Davis. “The reduction is a whopping $15.3 million that could put front line officers at risk. ...
    1 week ago
  • Crucial social services take another hit
    The Government looks set to slash half a million dollars of funding for critical social services, including Women’s Refuge and Barnados, says Labour’s Social Development spokesperson Carmel Sepuloni “Taking $500,000 from organisations aimed at improving the lives of vulnerable families… ...
    1 week ago
  • Saying it Loud on Climate in Christchurch
    The Government’s Christchurch consultation meeting on New Zealand’s emission targets was inspiring – not for what was in the Ministry for the Environment’s (MFE’s) defeatist video about the obstacles to changing to a low carbon future, but for what the… ...
    GreensBy Eugenie Sage MP
    1 week ago
  • Budget silent on small business
    The Government has completely ignored one of the most important sectors of the economy – small and medium-sized enterprises – in Budget 2015, Labour’s Small Business spokesperson Jacinda Ardern says. "A stunning 41 per cent of jobs were created by… ...
    1 week ago

Public service advertisements by The Standard

Current CO2 level in the atmosphere