web analytics
The Standard
Advertising

You’re paying for interest-free loans to foreign bankers

Written By: - Date published: 9:00 am, September 19th, 2013 - 89 comments
Categories: accountability, privatisation - Tags:

You will have heard of this ‘buy now, pay later’ plan that the Nats have to try to save the Meridian sale. Pay 60% of your shares’ price up front, the remaining 40% in 18 months. It’s an interest-free loan, funded by higher government borrowing. What we didn’t know is this outrageous fact: this taxpayer-funded interest-free loan will be extended to foreign banks. The Nats don’t know how much it will cost. The Parliamentary library says $60m.

Here’s an what happened in Question Time yesterday.

1. Dr RUSSEL NORMAN (Co-Leader—Green) to the Minister for State Owned Enterprises: What is the forecast cost to the Crown of the Government’s plan to allow buyers of Meridian Energy shares to pay for their shares in instalments and will the instalment scheme be open to overseas institutions?

Hon TONY RYALL (Minister for State Owned Enterprises) : Thank you for the opportunity to talk about the Meridian Energy share offer. It is on. As I advised the member in the House last month, there is no forecast cost for instalment receipts, because any such estimate would be affected by many factors, including the final price of the shares. To the second part of his question: yes, that has been known since last month, when the Government announced the instalment receipt structure for investors.

Dr Russel Norman : I seek leave to table an estimate of the cost of about $61 million, prepared by the Parliamentary Library.

Mr SPEAKER : The source of the document is the Parliamentary Library?

Dr Russel Norman : Yes.

Dr Russel Norman : Can the Minister confirm that if, for example, Goldman Sachs, based in the United States, was to buy Meridian Energy shares, Goldman Sachs would be allowed to access the interest-free loans in order to buy those shares?

Hon TONY RYALL : They are not interest-free loans, but certainly all investors will be able to use instalment receipts

Dr Russel Norman : Can he think of a more extreme case of a Government that favours the rich and the powerful over everybody else than the example of giving interest-free loans to offshore investment banks so that they can purchase shares in what is currently a company owned by the people of New Zealand?

Hon TONY RYALL : The Government has been quite clear on the reason why we have got these instalment receipts. We have also been very clear that, at float, this company will be owned 85 to 90 percent by New Zealanders. That is our goal

Ryall tried to dance on the head of a pin, saying that the ‘instalment receipts’ don’t amount to an interest-free loan, even though you get the whole ownership of the shares without paying for 40% of the value for 18 months. But the truth is there: if Goldman Sachs buys Meridian shares, you will help pay for their interest-free loan/instalment receipts. Apparently, this is to help facilitate Kiwi ownership.

Don’t think about it too hard, it doesn’t make any sense.

Oh, and regarding Ryall’s claim that the instalment scheme isn’t an interest-free loan, well Key said that is ‘essentially’ exactly what they are. Oops, I assume Ryall will be correcting his answers today, seeing as he’s also said “I always agree with the Prime Minister.

89 comments on “You’re paying for interest-free loans to foreign bankers”

  1. The Gormless Fool formerly known as Oleolebiscuitbarrell 1

    You’re paying for interest-free loans to foreign bankers

    …which will be reflected in the price. Because that is how markets work. (Not that I expect many here will be able to grasp that).

    • :lol: Here are some tips for ya from the Ellen Brown about the Tsunami of financial shit coming our way due to low interest banking shenanigans. Not that I expect the gormless fool to get this.

    • framu 1.2

      which is ignoring everything that points to the price not being what the govt hoped

      so perhaps you should look at the full picture rather than asserting some market voodoo and calling other people thick

      • The Gormless Fool formerly known as Oleolebiscuitbarrell 1.2.1

        which is ignoring everything that points to the price not being what the govt hoped

        You mean it’s a dog? Maybe the taxpayer is lucky that the government got out just in time.

        • thatguynz 1.2.1.1

          Would that be the same government that stifled Meridian’s ability to provide dividends/profits and thereby reduced it’s market value by “encouraging” them to re-subsidise the power supply to the Rio Tinto aluminium smelter?

          You can’t have it both ways I’m afraid Gormless.

          • The Gormless Fool formerly known as Oleolebiscuitbarrell 1.2.1.1.1

            So you are not one of the many here who have been gloating about the share price having gone down? Good on ya.

            • thatguynz 1.2.1.1.1.1

              I assume you are referring to MRP now rather than Meridian? Why would I gloat about it – as taxpayers we still have a vested interest in MRP as we theoretically own 51% of it.

              Nice try to deflect the issue that I raised however.

        • framu 1.2.1.2

          no. i mean your argument doesnt stack up – nothing more, nothing less

        • felix 1.2.1.3

          “You mean it’s a dog? Maybe the taxpayer is lucky that the government got out just in time.”

          Hi Gormless.

          The “taxpayer” interest – actually public interest – is not in the share price or the dividend. It is in owning the ability to generate energy. Instead, we’ll now pay the overseas owners for the privilege of having them sell us our own energy at a profit.

          No big deal though, it’s not like energy is ever going to be an issue.

          • The Gormless Fool formerly known as Oleolebiscuitbarrell 1.2.1.3.1

            Yeah, I know. Peak Oil is coming…

            • Colonial Viper 1.2.1.3.1.1

              2006-2007 mate. Do keep up.

            • felix 1.2.1.3.1.2

              That’s weird Gormy, I tried using that kind of sarcasm at the servo the other day and it had no effect on the price of fuel at all.

              How do you get it to work like that?

              • The Gormless Fool formerly known as Oleolebiscuitbarrell

                Your barbs cannot injure me today, Felix. For some reason, I feel very warmly towards you, you loveable scamp.

                • felix

                  No barb intended, I genuinely want to know how you’ve managed to negate the impact of the cost of energy.

                  • The Gormless Fool formerly known as Oleolebiscuitbarrell

                    I do not own a motor vehicle.

                    I have an electric lawn mower.

                    But I have great faith in the power of my sarcasm, so I may give it a crack, just to see.

                    • felix

                      I suppose if the only electricity you use is for your lawnmower then that explains why you don’t care who owns the ability to generate it.

                      Worst case for you is long grass, or a sheep if you’ve got a lot of it. (Assuming you don’t live in some sort of interconnected society of course.)

            • infused 1.2.1.3.1.3

              Coming… I thought it was here… funny how the date keeps changing.

    • Pascal's bookie 1.3

      which will be reflected in the price

      Efficient markets yup. Axiomatic til they go pop and everyone acts all surprised.

  2. tracey 2

    is someone surprise by this?

  3. AmaKiwi 3

    The other day Key was spinning some b.s. about how this election is going to be about “ideas.”

    Here’s an idea. Who belongs in jail, the guy who smokes pot or the one who gives your money to Goldman Sachs, SkyCity, Rio Tinto, commercial fishermen, charter schools, and Warner Brothers?

    Go Norman and Cunliffe!

    • Blue 3.1

      One is illegal, one is not. So off to jail with the pot smoker. I’m sure you knew that opposing something doesn’t make it illegal and wee just being deliberately obtuse.

  4. geoff 4

    Labour may be catching up but Russel Norman hasbeen the most consistent performer for the left in the house.

    Here’s the vid:
    http://inthehouse.co.nz/node/21051

    • bad12 4.1

      Lolz, it’s Russell’s voice, listening to Him grill various Ministers has me envisaging one of those torture racks slowly turning in the dark ages,

      Watching the temperature go through the roof in Nick Smith’s head as Russell makes inquiry of Him from every conceivable angle is akin to watching a bull terrier eviscerating a toy mouse and a joy to watch,

      After politics the rumor is that Russell Norman is going into the magic business with the heart of His act featuring the bending of silver spoons into fantastic angles…

      • David H 4.1.1

        “After politics the rumor is that Russell Norman is going into the magic business with the heart of His act featuring the bending of silver spoons into fantastic angles…”

        “Instead only try to realise the truth,” “What Truth?” “There is NO spoon”

        http://www.youtube.com/watch?v=uAXtO5dMqEI

    • Rogue Trooper 4.2

      Russel is a very good interrogator

    • Chooky 4.3

      geoff +1

  5. geoff 5

    Tony Ryall’s response hinged on an argument that, if the so called ‘installment receipts” (interest free loans) lifted the share price even 1 cent then that would be beneficial to NZ to the tune of “millions and millions and millions of dollars”

    So how are effects of installment receipts on the share price measured? How could anyone possibly know what portion of the share price was determined by installment receipts?

    voodoo economics.

    • Lanthanide 5.1

      This is standard right-wing economics theory.

      Give everyone a tax cut, claim it’ll increase growth in the economy. Then after the fact when people start saying “these growth figures aren’t as good as you promised” they just turn around and said “unfortunately not, but just imagine how much worse it would have been if we didn’t have the tax cut!”.

    • Saarbo 5.2

      Spot on Geoff, it is ‘voodoo economics’, instead of adding this complex bribe, which is only there to confuse the so called “mum and dad” investors, traditionally the issue price would have been lowered. Meridian will announce a huge dividend, which will inflate the yield based on the 60% payment. If kiwi’s get sucked into buying Meridian then our general understanding of these matters has not improved since the nation was sucked into investing in dodgy finance companies in the late 90′s and early 2000′s.

      The Meridian float has a huge risk attached to it, mainly driven by NZ Power…because for Meridian to be successful it requires Meridian to make SUPER NORMAL profits from its customers, which is highly unlikely under the Labour/Greens NZ Power policy. Classic National Party politics, a small number benefit at the cost to the rest of the population.

      National are crazy to continue with these floats, they are a really tough sell. But they have to save face now, what we are seeing is a very desperate National Party in action. Quite funny really, they have been completely gazumped by Labour/Greens.

  6. Greywarbler 6

    It’s a Richard Prebble scenario deja vu – all over again. He was supposed to have said he would give NZ Railways away because he was so keen to get rid of this loss-making, poorly run piece of essential infrastructure. TINA.

    Now it’s selling off our essential infrastructure assets by Jokey Hen and Co. Ltd. VIP (Very Inept Politicians.) Why, is the excuse that they are poorly run and costing the country money? It’s all such a rush, I suppose to get money in the putea so they can say ‘We’ve pulled out a plum, And we’re such good boys’ and good managers.

    NACT voters love old myths and fairy stories, they listen in rapt attention with lots of applause at the end and one wonders, and perhaps it’s about two million and one, if NACTs actually understand anything they hear. I think it’s a version of a favourite gorilla joke from A Fish Called Wanda, which would be comparing a NACT voter having the understanding of a gorilla, but I don’t think it is right to demean gorillas which are handsome, quiet-living, community-oriented people unlike NACTs.

  7. Plan B 7

    http://www.interest.co.nz/opinion/66416/opinion-pending-float-meridian-energy-will-shape-whether-asset-sales-programme-seen-su

    ‘Meridian is being marketed as some sort of cut-price, cash-belching machine.

    It is going to be hard now for the Government to talk up Meridian as a quality investment when clearly the company is, as they say, being priced to sell.’

    Even the money sites are expressing concern as this sale looks more and more odd.

  8. AmaKiwi 8

    Labour and Greens should calculate the total of all the crony capitalism give aways and divide it by the number of taxpayers. For argument’s sake, let’s say that amount is $2,000. The 2014 campaign will be fought on, “Key stole $2,000 of your money and gave it to his business cronies.”

    Do the same for asset sales.

    This campaign is going to be about money, how much money has been stolen from you and me.

    (That’s why Parker is now deputy and Robertson shadow speaker. Robertson is a good pitbull, but this campaign will be about Key using smoke and mirrors for financial deception.)

  9. tracey 9

    Lanth

    +1

    Especially when its folks like srylands with a spare 1500 a month for shares who can buy and tax cuts to that end dont stimulate the economy

    keep on ryall russell and make him commit to figures or look stupid saying why not.

  10. srylands 10

    As usual you are all (hysterically) worried about nothing. There is nothing unusual about the terms of the Meridian float – if there are concessions it will be reflected in a higher sales price. The Government is not giving anything away.

    So worry about this – the $4 billion cost of interest free student loans since 2006. If you are so worried about the Government giving away free money we could fix that. No? I thought not.

    • Colonial Viper 10.1

      Let’s see, interest free student loans benefit the young and the next generation of society.

      Privatising the nation’s power assets takes wealth away from the young and the next generation of society.

      Not really the same thing are they, asshat?

    • thatguynz 10.2

      The point went entirely over your head didn’t it Srylands. The point in the OP was to question why we should be offering interest free terms to offshore investors to buy these assets which contrary to what you assert, are likely not to trade at a premium to reflect this. Are we to assume that you think that is perfectly acceptable?

      • Colonial Viper 10.2.1

        It’s a gift to wealthy investors; of course it is acceptable.

        • Tim 10.2.1.1

          :p yes yes – because all that wealth is going to ‘trickle down’ by way of those wealthy investors also being ‘job creators’

    • thatguynz 10.3

      You are however quite right about the injustice of encumbering our next generation with large quantities of debt before they even hit the workplace. Education should of course be free rather than education finance being a wee cottage industry all on its own….

    • framu 10.4

      perhaps, instead of trying to tell the majority of NZers how they are all wrong and your right purely because you have a different opinion, how about you address the point?

      “this taxpayer-funded interest-free loan will be extended to foreign banks. The Nats don’t know how much it will cost.”

      Thats the point. Address that. Stop inventing distractions.

    • Murray Olsen 10.5

      It’s simple to fix the student loan problem – pardon all loans and provide free tertiary education for those of the necessary intellectual ability, with generous scholarships for those of exceptional ability. Repayment could be via community work schemes after graduation. They’ll never do this because no Tories would ever be able to enter university under such a scheme.

  11. tracey 11

    Anne +1

  12. Rogue Trooper 12

    Thanks for the informative Post James.

  13. tracey 13

    Be fair srylands has to try and remember which country and earning bracket he is from.

  14. tracey 14

    Srylands please name 5 publically listed nz companys who deferred payment of 40% and passes over ownership before balance is paid

  15. swan 15

    Of course Ryall is right. To talk about costs is nonsense. The value to investors of the installments will be accounted for in the price. They bid on the shares after all.

  16. Swan 16

    You have a weird sense of humour Felix. Still, the point remains, Russel’s little calculation is meaningless.

    • Colonial Viper 16.1

      Meh, this sweetner (kick back, free steak knives) for big institutional investors was required if English wasn’t going to have to cope with a dirt low embarrassing price for Meridian.

    • felix 16.2

      It’s funny, swan, because you’re claiming a higher price but you’re not saying what it’s higher than.

      Is the govt going to simultaneously sell a bunch of the same shares without the free money bonus? No? Then where’s your higher price? It’s pure fantasy.

      And if it really is true – which you have no way of measuring – that the price is boosted by the same amount as it will cost us to pay the interest on the money we’re borrowing to give to foreign institutions at no cost, then what’s the point?

      If you really, truly believe that the market is all-knowing, then why try to fool it with ridiculous offers which even in your best case scenario don’t leave us any better off?

      • swan 16.2.1

        OK Felix,

        “Which you have no way of measuring”

        Sure, we have no way of measuring, we cant run both scenarios at once. Well maybe they could, but they arent going. So given we have no way of measuring this, how did Russell come up with a figure as precise as $61m?

        “And if it really is true – which you have no way of measuring – that the price is boosted by the same amount as it will cost us to pay the interest on the money we’re borrowing to give to foreign institutions at no cost, then what’s the point?”

        Good question. It will probably not make a huge difference either way. Presumably the government thinks they will win out of the deal however, otherwise they would not have put it up. Just like your local supermarket with its discount on baked beans.

        • Pascal's bookie 16.2.1.1

          Except supermarkets aren’t playing politics.

          The government’s motvations are way more complicated than a supermarket’s.

          One example. we are being told that the share price will be lower due to uncertainty about the L/G power reform plans. Fair enough. We don’t know how much downward pressure is being put on the price, but let’s assume it’s some. Put a figure on it if you want. the government thinks it’s significant enough to decsribe it as ‘sabotage’.

          Now, if a private sector entity was planning a major divestment, with luittle actual pressure, (ie, it wasn;t a faire sale and the numbers on the sale were pretty marginal in terms of cost of borrowing vs foregone dividends) what would they do about an uncertainty in the market that would be completely cleared up one way or the other in about a years time?

          How would they justuify, to their share holders, pushing on with the sale at that point in time rather than delaying the sale until after that uncertainty went away?

          • swan 16.2.1.1.1

            Well the response to that is that the uncertainty may go away, but it may end up on the downside. Better to divest some of that risk now rather than face all of the crystallization of such risks.

            • Pascal's bookie 16.2.1.1.1.1

              Oh right, so the government is being fiscally responsible by divesting itself of these shares due to it’s belief it will lose the next election. Good oh.

        • Pascal's bookie 16.2.1.2

          The point being of course, that the government’s ‘win’ in its dealings aren;t alwasy caught on the balance sheet.

          It needs political wins, and to avoid political losses, and if the crown accounts take a hit to secure them, then that’s what spin is for.

          lap it up swanny, juicy tasty spin.

          At the end of the day though, losses in the crown accounts are sorted through taxation, one way or another.

          • swan 16.2.1.2.1

            That is an interesting position. After all it is the L/G plan that explicitly hits the crown accounts for… political advantage.

            • Pascal's bookie 16.2.1.2.1.1

              Nope. The L/G plan ‘hits the crowns accounts’ to lower costs for citizens, which is politically popular yes. But the govts position hits the crown accounts to save itself from backing down and looking weak.

              • swan

                The governments plan doesnt hit the crown accounts. The risks due to the LG plan exist regardless of the sale.

                • Pascal's bookie

                  But they are realised by selling now instead of waiting until after the election.

                  • swan

                    Which means the crown is able to divest itself of some of this risk at a price where the market thinks there is only a certain probability of the LG plan ever being implememted.

                    • Pascal's bookie

                      Which it only makes sense to do if it thinks it is going to lose the election. Not a lot of sense mind you, but it’s a skerrick of a reason.

  17. Tracey 17

    is srylands still searching for some examples of how normal this is in sharetrading in nz?

    • felix 17.1

      srylands is still searching for NZ on a map.

    • srylands 17.2

      You are probably drunk again. Installment receipt purchasing is common in IPOs because in a thin market they maximise receipts for buyers and sellers. Contrary to infantile left thinking markets are not about winners and losers.

      How many large IPOs have there been on NZ in the last decade? Oh yes fuck all because we have such a thin capital market. Why? Oh yes thats right we have this hysterical opposition to “asset sales”. We just sell each other our houses, vote for left wing councils that regulate land supply, and think we are getting rich.

      So when you sober up start worrying about the real issues. Like South Auckland cleaners subsidising the interest free student loans of Oriental Bay rich pricks’ kids – including the rich prick Green member(s) in Oriental Bay with 3 rental properties. Or the 20% of kids still failing at school. And no it is not because their parents’ welfare checks are too small.

      • Pascal's bookie 17.2.1

        hahaha.

        So we have a thin market because of so few state asset sales?

        Why are the only companies people would be willing to invest in created by the state?

        The money paid for these shares is going to the crown to finance state related stuff. It’s not being invested in growing the companies or anything like it. So instead of ‘buying houses off each other’ these monies are going to the crown.

        Presumably this is good because the government knows how to spend that money better than private investors or something IDK.

      • Saarbo 17.2.2

        Thin Market because people are investing all of their cash in the Auckland property market, making money from the poorest. and yes, as PB states, why is it the State that has to support our capital markets…isnt that telling you something.

        Your thinking has passed its “use by date” srylands.

      • Draco T Bastard 17.2.3

        How many large IPOs have there been on NZ in the last decade? Oh yes fuck all because we have such a thin capital market. Why? Oh yes thats right we have this hysterical opposition to “asset sales”.

        Nope, we’ve had very few large IPO’s over the last decade because the Randian Heroes of capitalism haven’t been creating anything like they promised us they would do if we cut their taxes. I figure this is because a) they can’t because they’re not the ones that actually create wealth and b) with all the tax cuts that they’ve had over the last 30 years they figure they’re doing well enough that they don’t need to go round risking it all.

        So when you sober up start worrying about the real issues.

        I’m still worried about the bludgers known as shareholders. Why is it, you think, that we a small group of people who live high on the backs of others? Why do we allow this theft and exploitation?

      • framu 17.2.4

        so many insulting straw men in one comment

        why do you feel the need to act all pompous and insulting?

      • joe90 17.2.5

        How many large IPOs have there been on NZ in the last decade? Oh yes fuck all because we have such a thin capital market. Why? Oh yes thats right we have this hysterical opposition to “asset sales”.

        The reality – the Randian Heroes fuckwits of capitalism are so piss weak that to even get a large IPO off the ground they’ve had to resort to thieving publicly owned assets.

        http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10747634

        • aerobubble 17.2.5.1

          Dominance of a few sectors of the ears of government have reduce the NZ economy to a hollowed out exercise in capitalism. Competitive housing fueled by low taxation has produce damp, moldy, leaky homes for the majority and a few high priced mansions. National have done little to nothing about the housing crisis, for five years its gotten worse, fueling the exodus of the next generation of company builders overseas. And yeah, it must therefore be the rabid anti asset sellers who also argue for a CGT, for government building to the demand by the poorest groups who everyone agrees the private property market has NO INTEREST in.

  18. Puckish Rogue 18

    You’re missing the point, the point is I get to buy more shares in NZ power companies so its all good (and no I’m not bothered by the share price of MRP)

  19. Tracey 19

    srylands wrote “There is nothing unusual about the terms of the Meridian float –” but cant point to nz examples wich means he is right its not unusual, its unique.

  20. nadis 20

    Without getting into the rights or wrongs of the wider sales process, I would say that instalment payments for IPO’s are quite common overseas. We haven’t seen any here (to my knowledge) but they are used overseas particularly when an issuer is trying to target retail investors – for instance I recall British Gas shares were paid for over three instalments, and I think most privatizations in Europe followed in similar vein.

    In terms of pricing – it’s not actually an “interest free loan” to anyone. Any future cashflow has a value based on the net present value of that cashflow which in turn has three main components: interest rate, time and certainty of payment. Essentially the government has two choices, i.e 1. pay 1 dollar today, or pay 1 dollar minus x in t years time. Now x can be more or less than zero – that depends on the difference between the interest rate you would fund the future purchase at and the net earnings of the company in question, as well as an assumption about the creditworthiness of the person promising to pay.

    There is absolutely no “free loan” element to this – the pricing announced at time of sale will incorporate the difference between payment now and payment in the future. If full payment was required on Day 1 then there would likely be a different price. Just because we don’t explicitly see a number attached t this amount doesn’t mean it doesn’t exist. It is non-controversial, non-political, non- partisan – it is just simple math.

    For a simple description of forward pricing see the wikipedia page:

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

    • Pascal's bookie 20.1

      “Just because we don’t explicitly see a number attached to this amount doesn’t mean it doesn’t exist.”

      But is the number knowable? can it actually be calculated on its own, or is it derived from ‘here are the hard numbers and whatever bit of fudge is left we’ll assume is the number we are after’?

      A lopt of this stuff is kinda silly when you think about it. Like the idea that a hare price represents the value of future earnings, discounted for time. It makes sense as a description of what people are buying, and people try and work from that to come up with math to define that discount and what have you, but at heart it’s a nonsense. Trades are made for lots of reasons, most of them subjective values. You can;t just split the difference or say that all those values are really about the value of future earnings in any objective way.

  21. nadis 21

    Forward pricing is knowable. The only subjective part is the probability of default and for this transaction you can assume that is essentially nil as if you don’t pay the second instalment then you don’t get to own the shares. (Of course if the shares in the future are worth less then the amount owing then that raises some obvious issues).

    Give me a known price now, a known term and an interest rate term structure then there there is only one forward price. It is math and not subjective.

    You’re right about valuation of shares which is why there is typically a wide range of valuations for any particular share from different analysts. Valuation is an opinion not an observable fact whereas a forward price is an observable fact as it is independent of the underlying share value.

    In an IPO process the “fair valuation” is simply the price at which all the stock gets sold so in effect it is a weighted average of all the valuations and demand up to the marginal price at which there is unsold stock. So yes – messy but that’s how any auction process works. When you sell something on trademe it is the same.

    • Pascal's bookie 21.1

      I still don’t get it. You know what the price is in an auction after the auction has been run, not before right?

      If a seller has reasons to get rid of something, then they might sell it for a lower price than they might potentially be able to gte. ie, there may be a ‘fair price’ at which is all the stock which is higher than the price a seller sets. In that case all the stock will still be sold, and the seller will have missed out on the difference.

      It’s that sort of question which makes me think there is a lot of circular hooha involved in these discussions about what prices are.

  22. nadis 22

    I think we are confusing two conversations, 1. what is the price of the share to start with, and 2. how do you price the forward settleing part of it.

    1. is subjective and set by an auction process.

    2. is objective and determined by interest rates, time and dividend rate of the share.

    The offer price for the shares is set by an auction process or bookbuild. The organising broker speaks to all the participating brokers before the announcement and says “how many do you want to buy and at what price?” This sets the offer price at the marginal price at which demand = supply. The price includes (in the minds of investors) an explicit allowance (+ve or _ve) for the impact of the forward settlement.

    There is a lot of circular hooha involved in share valuation but at the end of the day, for every transaction you have a willing seller and a willing buyer – therefore you have a fair price. But valuation by individuals is always going to be subjective and relative, relative to other uses for that money, relative to their opinion on a particular company or industry, relative to their mood etc.

    One of the most succesful investors ever, and the original proponent of value investing (Warren Buffett cites him as the second most influential person in his life) was Benjamin Graham who summed up valuation as:

    “The market is not a weighing machine, on which the value of each issue is recorded by an exact and impersonal mechanism, in accordance with its specific qualities. Rather should we say the market is a voting machine, whereon countless individuals register choices which are the product partly of reason and partly of emotion.”

    • felix 22.1

      Not really “countless individuals” though innit.

      In reality it’s a small group of financial institutions who all know each others’ positions inside out and all know exactly how much they can screw out of the hapless (or willing) NZ govt.

      There are no market forces at play here, not in the abstract and infinitely democratic sense you’re trying to imply.

      • nadis 22.1.1

        Felix- not trying to imply anything wrt NZ. I was just trying to explain how the forward pricing mechanism worked and that it is not in fact an interest free loan. I thought I made it quite clear I wasn’t commenting on the NZ sales process and can’t see where I have. And last time I checked neither Ben Graham or Warren Buffett had much to do with minuscule privatisations in an under-developed, illiquid economy. The real definition of an efficient market is not that the price on display at any time is an accurate measure of fundamental value, rather I think an efficient market is one where you can transact efficiently in a cost and liquidity sense, but the price you transact may be good or bad value.

        And Tracey – again without getting into the good/bad argument – whether you sell something now and get the money later is irrelevant. /bThe price takes account of the financing cost./b By all means debate the asset sales good/bad argument but don’t get bogged down in talking about financing balance sheet items – that’s not relevant to the argument you are trying to make. The reason the gummint is doing instalments this time is because with MRP trading at an 11% discount, anything to make this more attractive to the marginal price buyer (i.e., retail investor) is worth a try, and putting shares on HP might appeal to some investors who havent considered the implicit cost. It’s pretty much the same deal as you get from Noel Leeming when you buy your tele interest free, no payments for 2 years. Guess what: It’s not actually interest free.

        • felix 22.1.1.1

          Sorry nadis, I don’t follow. What do “efficient markets” have to do with electricity generation in NZ?

        • Colonial Viper 22.1.1.2

          rather I think an efficient market is one where you can transact efficiently in a cost and liquidity sense

          You just totally and unbelievably made that shit up.

          Investorpedia relates “efficient markets” as the following:

          theory that states it is impossible to “beat the market” because stock market efficiency causes existing share prices to always incorporate and reflect all relevant information. According to the EMH, stocks always trade at their fair value on stock exchanges, making it impossible for investors to either purchase undervalued stocks or sell stocks for inflated prices.

          Which is of course not only fictional bullshit in of itself (e.g. the idea that not only are all relevant facts known but that all market participants know those facts all at the same time), but it is nothing related to your own fictional bullshit made up definition of “efficient”.

          • nadis 22.1.1.2.1

            geez you make commenting on this website hard work. You also seem very keen to proscribe negative motives to anyone that has even a slightly contrary view to yourself. Sanctimonious. I think the first clue you missed was when I said “I think” which in most situations indicate that what followed was my opinion – the opinion of someone with an engineering degree, a masters in mathematical finance and 20+ years of working in financial markets. Any one who has been remotely connected to markets or sudied economics or finance since the 1960′s knows exactly what the classic Markowitz definition of efficient markets are. They would also know that MPT relies on about 13 or so base assumptions, almost none of which are actually practically present in financial markets. Assumptions like all investors are rational and risk averse, all investors are trying to maximise utility for low risk profits, there are frictionless borrowing and lending costs, correlations are both constant and measurable, volatility is the same thing as risk, asset returns are normally distributed etc etc. I could go on.

            I didn’t totally and unbelievably make that shit up – I gave you my opinion on what I believe to be a more appropriate definition of what is market efficiency. Catch up. As you are the master of investopedia look up behavioural finance or read some of the essays by James Montier.

            And btw I agree with Felix – very little in NZ markets – listed or otherwise – has a much acquaintance with market efficiency.

  23. tracey 23

    Funny though how we needed to sell these assets first and foremost to reduce debt but now we can defer 40% until 2015.

    seems strange if its such a good idea this hasnt been done in nz before.

Important links

Recent Comments

Recent Posts

  • Climate Change Impacts in Labrador
    In 1534, famed explorer Jacques Cartier described Labrador as "the land God gave to Cain". This comparison is inevitably linked to Labrador’s rugged coastal landscapes dotted with deep inlets, fiords and rugged tundra. Culturally the region is steeped in complexity...
    Skeptical Science | 20-08
  • Dirty Politics: Free speech & a policy-free election
    A couple of weeks ago I said that every election has its surprises. But I certainly didn't see Nicky Hager coming down the track, book in hand. Perhaps I should have, since both my 2002 and 2005 examples involved him.read...
    Pundit | 20-08
  • Happy to be left holding the baby – as the battle for Ōhariu heats up
    John and Tricia Andersen spent decades serving communities across New Zealand by choosing to teach in low decile schools, often in remote areas, including principal and deputy principal roles. Now they are working to improve opportunities for New Zealand’s children...
    Labour campaign | 20-08
  • Boys on film – Nohorua Parata
    Meka Whaitiri recently told Labour Voices “I am a Māori MP, for a Māori electorate. I see life through a Māori lens.” Sons Nohorua, 17, and Wi Rangi, 16, have been looking through a different lens – making campaign videos for their mother. Here...
    Labour campaign | 20-08
  • We’ve launched the campaign. The hoardings are up.
    We've launched the campaign. The hoardings are up. Our TV ads are running. But what this campaign needs now is YOU. It's people on the ground that'll make the crucial difference. ...
    Labour campaign | 20-08
  • SIS OIA turnaround times
    One of the central allegations in Nicky Hager's Dirty Politics is that Cameron Slater received favourable treatment in the handling of an OIA request to the SIS. That allegation is now the subject of an investigation by the Inspector-General of...
    No Right Turn | 20-08
  • Letter to the Editor: National’s blighted future?
    . . from:      Frank Macskasy to:           Dominion Post <letters@dompost.co.nz> date:       Wed, Aug 20, 2014 at 5:07 PM subject: letter to the editor . The editor Dominion Post . On the issue of National Party dirty politics… Once National...
    Frankly Speaking | 20-08
  • Out of control crowd writes stern letter to effigy of John Key
    A stern letter written to an effigy of John Key at an Internet-Mana rally has led to concerns about the deterioration of our political discourse. The Internet Party has been forced to apologise this afternoon after an out-of-control crowd at...
    The Civilian | 20-08
  • Maritime Union continues to press Ports of Auckland over dirty politics act...
    Maritime Union National President Garry Parsloe says Ports of Auckland management is trying to get off the hook from its involvement with extreme right wing bloggers during the Ports of Auckland dispute. Information revealed...
    MUNZ | 20-08
  • Cameron Slater Must Be Arrested on Entry Back Into NZ for Suspected Blackma...
    National Party’s ‘friend’ – Cameron Slater, must be arrested on entry to NZ, for suspected blackmail (and computer hacking, etc) – or … the Police are also in National’s pocket. Think Before You Vote – Vote With Common Sense...
    An average kiwi | 20-08
  • Why Thrown in the Towel? A brief response to Trotter’s cynicism.
    In the wake of Nicky Hager’s revelations, Chris Trotter has penned a cynical defense of dirty politics as being the norm. For Chris, when it comes to politics “(t)he options are not fair means or foul: they are foul means...
    Kiwipolitico | 20-08
  • Poll of Polls update – 20 August 2014
    The latest Roy Morgan poll has just been released. The polling window runs from 4 August to 17 August, meaning that been a quarter and a third of the polling was done following the release of Nicky Hager’s Dirty Politics book....
    Occasionally erudite | 20-08
  • Labour’s positive campaign video
    New Zealand should be the fairest, most decent society in the world. We’re a small nation with a lot of resources. We have a culture of working hard and looking after each other. A fair go for everyone, and putting...
    The Jackal | 20-08
  • ACT promises to abolish helmet laws
    Cycling seems to be the issue of the week so far. We’ve had Skypath and the Northcote cycle routes followed by National then announced an urban cycling policy which finally seems them agree that urban cycling improvements are needed. Now ACT have...
    Transport Blog | 20-08
  • Vote Positive: Labour’s 2014 TV Ad
      SHARE DONATE...
    Labour campaign | 20-08
  • Judith! Judith! Judith! Go! Go! Go!
    I've not bee posting on the Dirt Politics fiasco simpl because it has been moving too fast for me to keep up up with.(Unlike John Key, I have read the book.)But now we have reached a somewhat odd pass where...
    Left hand palm | 20-08
  • The gift that keeps on giving
    There's been another Whaledump this afternoon, this time of Facebook messages with Aaron Bhatnagar. As expected, it confirms everything alleged in Dirty Politics. Unfortunately, in addition to this public interest material, it also includes a vast amount of material of...
    No Right Turn | 20-08
  • National Party’s Mate, Slater, Casually Discussed Blackmail of Rodney Hid...
    The alleged leaker of the Scumbag Slater’s messages, has uploaded a tonne of messages allegedly between Slater and Aaron Bhatnagar. Their contents are - incredibly shocking, some of which infer Slater has some inside knowledge of Police Investigations, confidential highly personal...
    An average kiwi | 20-08
  • The Waitaki River needs our help
    Environment Canterbury (ECan) is proposing a major change to the Waitaki Catchment Water Allocation Regional Plan. This change would reduce the river’s minimum flow by a third (from 150 to 102 cubic meters per second) for periods over the summer. A lower minimum flow...
    frogblog | 20-08
  • Winston Peters & the NZ First list : “Thou hast rebuked the heathen, ...
    Following NZ First’s rule change allowing the party to fine its MPs $300,000 if they left the party but remained in Parliament, Scott Yorke at Imperator Fish published his mock “ten other NZ First party rules you probably don’t know about“,...
    Occasionally erudite | 20-08
  • How it works in Fiji
    Fiji is having an election next month, but the regime is keen to limit the political competition any way they can. So they're banning people from running if they've ever had a parking ticket:The leader of Fiji's United Freedom party...
    No Right Turn | 20-08
  • Fiscal rectitude and false books
    It also seems to be fiscal rectitude day, with both major opposition parties promising to "live within our means" and run bigger surpluses than National. But while they're both promising balanced books, that doesn't mean conforming to National's austerity madness;...
    No Right Turn | 20-08
  • Auckland property revaluations
    The council is required to revalue every property every three years and the valuations are used in the setting of rates the council charges. The last revaluation was in 2011 which means a new one is due this year. The council...
    Transport Blog | 20-08
  • John Key’s Top 69 Lies: Today no. 31: Toilet paper
     Collins cleared of conflict: PM  We've heard a lot about Judith Collin's alleged conflict of interest over Oravida, but what about John Key's?   John Key pictured with Oravida chairman Deyi Shi. Read about it here: Milk Runner Tangles PM in Product Endorsement  An extract...
    Arch Rival | 20-08
  • National’s campaign strategy
    Back in 2005, Labour’s slogan was “Don’t put it all at risk”. Fast forward to 2014, and National’s is essentially the same. The party’s first TV ad of the campaign is out, telling us to “keep the team that’s working”, as...
    Occasionally erudite | 19-08
  • Everything is absolutely fine
    H/T @ninetendoug...
    The Jackal | 19-08
  • Write day
    It's official: we're having an election:The Governor General, Lt Gen The Rt Hon Sir Jerry Mateparae, has given the green light for this year’s General Election. The Governor General has signed the writ directing the Electoral Commission to conduct the...
    No Right Turn | 19-08
  • Carmel in Kelston
    I’m Carmel Sepuloni and I am the candidate for Kelston. I was a teenager during the 90’s.  This period really shaped my political views for life.  Both my parents lost jobs.  I still remember the rhetoric of the day –...
    Labour campaign | 19-08
  • World News Brief, Wednesday August 20
    Top of the AgendaUN Launches Aid Operation in Iraq...
    Pundit | 19-08
  • National’s dirty politics
    The unacceptable behaviour of those named in Nicky Hager's book, Dirty Politics, should be a wake up call to everybody who values our democracy in New Zealand. Not only have senior officials in the Prime Minister's office been implicated in...
    The Jackal | 19-08
  • Hard News: Never mind the quality …
    Bryce Edwards revealed on Twitter last night that he hasn't been invited back as one of the New Zealand Herald's outside columnists for the election campaign. Instead, the paper of record has opted for Josie Pagani and Cathy Odgers.Yup. Cathy...
    Public Address | 19-08
  • Paula Bennett: Our kids are entitled to better than this
    Over the weekend on the Q and A TV show Paula Bennett, Minister of Social Welfare, dismissed as invalid any comparison between the income support given to the elderly in New Zealand and the income support given to children. She...
    Gareth’s World | 19-08
  • Heart Kids Awareness Month
    There is a lovely story up on Stuff this morning: Staff at Greenlane Hospital once called her the "Swiss cheese girl." Samara McKenzie was born with ventricular septal defect and had more than 12 holes in her heart. Now she's...
    Polity | 19-08
  • Cameron Slater States that: “Maori are thick. Dumber than your average be...
    Read Cameron Slater’s (The Earthquake Victim hating ‘Blogger’ that National leak information to, and refer to as a ‘Good Friend’) full racist derogatory post here:    “MAORI MUST BE THICK” - By Cameron Slater / WhaleOil...
    An average kiwi | 19-08
  • Let’s not overestimate these idiots
    One of the most prevalent responses to Dirty Politics is that it just shows us ‘politics as normal’. (Here’s Trotter insisting that dirty politics is ‘the only kind there is’.) This is weird on a couple of levels. Firstly, in the week...
    DimPost | 19-08
  • Judith Collins on privacy
    Here is Minister of Justice Judith Collins talking about privacy on May 28, 2014: Significant improvements to our nation’s privacy laws will deliver stronger protections for New Zealanders’ personal information, Justice Minister Judith Collins announced today. The Government had previously...
    Polity | 19-08
  • Not a political commentator
    Readers will recall that John "not a political commentator" Key has proclaimed: Mr Key claimed Labour was using a smear campaign to bring National down instead of bringing out new policies. If that's true, I guess National's first TV ad...
    Polity | 19-08
  • Young Zealanders – Rebels WITH a cause.
    . . Good message. (Especially the last bit.) The response from the likes of John Key, Matthew Hooton, Claire Robinson, David Farrar, Duncan Garner, Patrick Gower, that psychopath, Cameron Slater, certain Labour MPs,  et al,  illustrates very clearly that the...
    Frankly Speaking | 19-08
  • Young Zealanders – Rebels WITH a cause.
    . . Good message. (Especially the last bit.) The response from the likes of John Key, Matthew Hooton, Claire Robinson, David Farrar, Duncan Garner, Patrick Gower, that psychopath, Cameron Slater, certain Labour MPs,  et al,  illustrates very clearly that the...
    Frankly Speaking | 19-08
  • More trouble for Collins
    Judith Collins, on her last last chance from a weak looking John Key, has yet more trouble as Bill English, and the Law Society all line up to bag her. First, here's English: Speaking after the release of the pre-election...
    Polity | 19-08
  • Council Budget Documents
    Currently the Auckland Council is going through the process of setting their Long Term Plan, which sets out the councils budget for the next 10 years. This is the timeline from the council’s website. Long-term Plan timeline August 2014 –...
    Transport Blog | 19-08
  • SSC survey shows clear way forward for better public services
    The Public Service Association (PSA) has welcomed the release of the State Services Commission’s (SSC) Integrity and Conduct Survey 2013...
    PSA | 19-08
  • Solidarity Demo; Letter to Ireland
    Prochoice advocates are holding a solidarity demo tomorrow (Wed, 20 Aug) from 8:15 a.m. to 9:30 a.m. outside the Irish Consulate at 205 Queen Street in Auckland. The demos are to support rallies across Ireland and Europe also on the...
    ALRANZ | 19-08
  • Snoopman News Turns a Whole One!
    Snoopman News booms in 1st year with 1.93 million page views. By Snoopman To friends, accomplices, associates and regular readers, your enthusiasm, encouragement and energy is sooo appreciated. To occasional readers, come back, don’t be sooo fickle! (We do critical...
    Snoopman News | 19-08
  • When Stupid meets Hypocrisy, the result is David Farrar
    . . As the sh*t storm over Nickey Hager’s book,  Dirty Politics engulfs the National Party; Key’s teflon coating is being scoured away by the nova-like searing heat of public glare; Cameron Slater is shown to have been the weapon-of-choice...
    Frankly Speaking | 19-08
  • When Stupid meets Hypocrisy, the result is David Farrar
    . . As the sh*t storm over Nickey Hager’s book,  Dirty Politics engulfs the National Party; Key’s teflon coating is being scoured away by the nova-like searing heat of public glare; Cameron Slater is shown to have been the weapon-of-choice...
    Frankly Speaking | 19-08
  • A statement from John Key about Judith Collins
    The Prime Minister makes it clear that Judith Collins is skating on ice. Quite solid ice, as it turns out....
    Imperator Fish | 19-08
  • National’s policy-free politics and colossal hypocrisy
    The two faces of National’s hitherto successful PR strategy UPDATE (19 Aug, evening): Literally in the last few hours, National have unveiled a whole bunch of policy on their website. This renders the below numbers and graphs out-of-date. But the second half is still relevant, and...
    Cut your hair | 19-08
  • AMETI Busway gets design funding
    Auckland Transport announced yesterday that $21 million had been approved, $11 million of which from the NZTA, to design the first stage in the AMETI busway which will run between Panmure and Pakuranga. A later stage will run from Pakuranga...
    Transport Blog | 19-08
  • John Key’s Top 69 Lies: Today no. 32 – The Left have given up o...
     3 News: Key:Left-wing has 'given up' arguing policy The left have given up on the policy argument. They don't think they can beat the National Government on the issues of the economy, law and order, health, education, welfare reform and the...
    Arch Rival | 19-08
  • Inquiry into SIS disclosures the right decision
    Labour MP Phil Goff says the Inspector-General of Intelligence and Security has done the right thing by launching an inquiry into the disclosure of SIS documents about a meeting between himself and the agency’s former director-general. “This inquiry is necessary...
    Labour | 20-08
  • Labour – supporting and valuing carers and the cared for
    Placing real value on our elderly and the people who care for them will be a priority for a Labour Government, Labour Leader David Cunliffe says. Releasing Labour’s Senior Citizens policy today David Cunliffe promised that a Labour Government would...
    Labour | 20-08
  • By Hoki! It’s Labour’s fisheries policy
    A Labour Government will protect the iconic Kiwi tradition of fishing by improving access to the coast, protecting the rights of recreational fishers and reviewing snapper restrictions, Labour’s Fisheries spokesperson Damien O’Connor says. “Catching a fish from the rocks, beach...
    Labour | 20-08
  • Mighty River – Mighty Profits – Mighty hard to swallow
    Mighty River Power’s profit increase of 84 per cent is simply outrageous, says Labour’s Energy spokesperson David Shearer. “Demand for electricity is flat or declining yet the company has made enormous profits. It is the latest power company to celebrate...
    Labour | 19-08
  • Collins’ actions were wrong, not unwise
    John Key’s moral compass remains off-kilter as he cannot bring himself to declare Judith Collins’ actions outright wrong, not simply ‘unwise’, said Labour MP Grant Robertson. “Under pressure John Key is finally shifting his stance but his failure to condemn...
    Labour | 19-08
  • Public servants behaving with more integrity than their masters
    The State Services Commission's new report on the integrity of our state services reflects the yawning gap between the behaviour of public servants and that of their political masters, Labour's State Services spokesperson Maryan Street says. “This report, which surveyed...
    Labour | 19-08
  • Phil Twyford Speech to NZCID
    "Labour's plan to build more and build better: how new approaches to housing, transport and urban development will deliver cities that work" Phil Twyford, Labour Party spokesperson on housing, transport, Auckland issues, and cities.  ...
    Labour | 19-08
  • Labour commits to independent Foreign Affairs and Trade
    “Labour is committed to New Zealand’s Foreign Affairs and Trade policy being independent and proactive, Labour’s Foreign Affairs spokesperson David Shearer says. “We are a small but respected country. Our voice and actions count in international affairs. Labour will take a...
    Labour | 19-08
  • Key must sack Collins over abhorrent actions
    The latest revelations that Judith Collins sent the contact details of a public servant to WhaleOil in a desperate attempt to divert media attention from a bad story is abhorrent, Labour MP Grant Robertson says. “John Key and Judith Collins...
    Labour | 19-08
  • It’s downhill from here under National
    The forecast drop in exports and predicted halving of growth shows that it’s downhill from here with National, Labour’s Finance spokesperson David Parker says. “Growth under this Government peaked in June and halves to two per cent in coming years....
    Labour | 19-08
  • John Key loses moral compass over Collins
    John Key has lost his moral compass over Judith Collins’ involvement with Cameron Slater and lost touch with New Zealanders’ sense of right and wrong, Labour MP Grant Robertson says. “Whoever is Prime Minister there are expectations they will not...
    Labour | 18-08
  • Mana Movement General Election 2014 List confirmed
    The MANA List is now confirmed with all the candidates as below (the numbers are the respective Internet MANA rankings). Candidate, Electorate, Internet MANA List Position Hone Harawira, Te Tai Tokerau (1) Annette Sykes, Waiariki (3) John Minto, Mt Roskill (4) Te Hamua Nikora, Ikaroa-Rawhiti...
    Mana | 18-08
  • PREFU likely to confirm dropping exports
    National’s economic management will be put under the spotlight in tomorrow’s PREFU given clear signs the so-called rock star economy has fallen off the stage, with plummeting prices for raw commodity exports, Labour’s Finance spokesperson David Parker says. “Under National,...
    Labour | 18-08
  • Record profits while Kiwis face a cold winter
    The record profits by two of New Zealand’s largest electricity companies will be a bitter pill for New Zealand households who are paying record amounts for their power, says Labour’s Energy spokesperson David Shearer. “No doubt the Key government will...
    Labour | 18-08
  • Time for John Key to answer yes or no questions
    John Key’s train-wreck interview on Morning Report shows he is no longer capable of a simple yes or no answer and has lost touch with what’s right and wrong, Labour MP Grant Robertson says. “John Key has become so media...
    Labour | 18-08
  • Key must clarify who signed out SIS OIA
    Yet again John Key is proving incapable of answering a simple question on an extremely important issue – this time who signed off Cameron Slater’s fast-tracked SIS OIA request on Phil Goff, said Labour MP Grant Robertson. “John Key’s claim...
    Labour | 18-08
  • Time to invest in our tertiary education system
    A Labour Government will fully review the student support system – including allowances, loans, accommodation support and scholarships – with a view to increasing access and making the system fair, transparent and sustainable, Labour’s Tertiary Education spokesperson Maryan Street says....
    Labour | 17-08
  • Labour will facilitate regional Māori economic development agencies
    The next Labour Government will facilitate the creation of regional Māori economic development groups lead by iwi and hapū to work in partnership with business and public agencies as part of its Māori Development policy. “Labour is committed to working towards...
    Labour | 16-08
  • PRIME MINISTER’S DENIAL AT ODDS WITH NATIONAL PARTY STATEMENT
    Labour’s New Zealand Council has today released an email from the General Manager of the National Party that directly contradicts recent statements from the Prime Minister in relation to the 2011 breaches of Labour Party website databases. In his stand-up...
    Labour | 16-08
  • Labour committed to a healthier NZ for all
    A Labour Government will shift the focus of the health system from narrow targets and short term thinking to make public health and prevention a priority, Labour’s health spokesperson Annette King says. Releasing Labour’s full Health policy today she said...
    Labour | 15-08
  • Time Key took responsibility for Collins
    It is well past time for John Key to take some responsibility for the misuse of power and information by his Minister Judith Collins, and follow through on his last warning to her, Labour MP Grant Robertson says. “The evidence released...
    Labour | 14-08
  • Dear John, time to answer a few questions… – Harawira
    “When Cameron Slater says about Kim Dotcom ‘I have lots on him…death by a thousand cuts…wait till you see what comes out in coming weeks on that fat c***t’, you have to ask whether this is the same Cameron Slater...
    Mana | 14-08
  • MANA CANDIDATE FOR IKAROA RAWHITI OPENS UP ABOUT SUICIDE
    “This week suicide has claimed yet more lives in whanau and communities in Ikaroa Rawhiti, and my heart goes out to those who are dealing with such a tragic loss”, says MANA candidate for Te Ikaroa Rawhiti, Te Hamua Nikora....
    Mana | 14-08
  • Offshore betting in Labour’s sights
    A Labour Government will clamp down on offshore gambling websites that deprive the local racing industry of funds, Labour’s Racing spokesperson Ross Robertson says. Releasing Labour’s racing policy today, he said betting on offshore websites is a major threat to...
    Labour | 14-08
  • Key has serious questions to answer on Dirty Politics
    John Key must answer the serious questions raised in Nicky Hager’s new book which reveal examples of dirty politics that New Zealanders will be deeply concerned about, Labour MP Grant Robertson says. “Many people will be disturbed by the evidence...
    Labour | 14-08
  • Creating an inclusive society for disabled people
    A Labour Government will provide free annual health checks for people with an intellectual disability, Labour’s Disability Issues spokesperson Ruth Dyson said today in announcing Labour’s Disability Issues policy. “We will also employ another 100 additional special education teachers and...
    Labour | 14-08
  • Media Advisory – MANA name change
    This is to advise all media that on the 24th of July the ‘Mana’ party name was officially changed to ‘MANA Movement’ under the Electoral Act 1993.  The inclusion of the word ‘Movement’ in our name shouldn’t come as a surprise...
    Mana | 13-08
  • New Zealand must help in the growing Iraq crisis
    The humanitarian crisis in Iraq looks certain to get worse before it gets better,” said David Shearer Labour’s Foreign Affairs spokesperson. “New Zealand should urgently pledge increased humanitarian assistance to United Nations agencies and NGOs present on the ground....
    Labour | 13-08
  • Allegations of migrant worker rort should be investigated
    Labour is calling for an investigation into the alleged exploitation of workers at Hutt Railway workshops, hired to repair asbestos-riddled DL locomotives. Hutt South Labour MP Trevor Mallard has written to the Ministry of Business, Innovation and Employment asking that...
    Labour | 13-08
  • Medical and dentistry students get reprieve under Labour
    A Labour Government will restore the right of medical and dentistry students to get student loans after seven years of study because it is the right thing to do, Labour’s Tertiary Education spokesperson Maryan Street says. “Hard on the heels...
    Labour | 13-08
  • National must stop meddling with ACC before the election
    The redesign currently occurring at the Accident Claims Corporation (ACC) for sensitive claims needs to be put on hold immediately, said the Green Party today.The Green Party is concerned about work currently underway at ACC involving the sensitive claims service...
    Greens | 13-08
  • Markets slow but first home buyers still hurting
    First home buyers are hurting more than ever as the supply of affordable houses in the market dries up, Labour’s Housing spokesperson Phil Twyford says. “The Reserve Bank will be happy LVR minimum deposits and rising interest rates have dampened...
    Labour | 13-08
  • Green Party celebrates MOU win on contaminated sites
    The Green Party is celebrating the announcement of a national register of contaminated sites today, and $2.5 million to start cleaning two sites up. The Green Party and the National Party agreed to include toxic site management work in their...
    Greens | 13-08
  • Emergency staff at breaking point
    The Southern DHB is so cash-strapped it is failing to fill nursing rosters, Labour’s Associate Health spokesperson David Clark says.  “Every day emergency department nurses arrive at work knowing they are likely to be carrying more than their recommended workload. ...
    Labour | 12-08
  • ACC minister fails in mission to change culture
    The latest damning report by the Auditor General shows that the ACC Minister has failed to fulfil her mission to fix the sick culture at ACC and real change will not come till a new Government is elected, the Green...
    Greens | 12-08
  • Labour’s regional development fund to support Palmerston North
    Labour will consider a proposal to develop an inland port at Palmerston North, Labour Leader David Cunliffe says. “The Palmerston North community has developed plans for an inland port which will bring jobs and economic growth to a region which...
    Labour | 12-08
  • Green Party announces priorities for Christchurch
    The Green Party has today announced its plan for a fairer, smarter and more democratic Canterbury rebuild, with a focus on smart transport solutions, restoring local democracy, and keeping Christchurch's assets.The plan sits across all of the Green Party's priorities...
    Greens | 11-08
  • Rock-star economy unplugged by China log jam
    The collapse of log prices due to oversupply in China threatens to wash the gloss off what remains of National's so-called rock-star economy, says Labour Leader David Cunliffe. “Already this year the price of milk solids has plunged by more...
    Labour | 11-08
  • Young job seekers dealt a poor hand
    National's "keep 'em poor" card for young people on a benefit is a sorry substitute for job training, Labour’s Social Development spokesperson Sue Moroney says.  The Government today announced it would extend its payment card scheme to all teen parents...
    Labour | 11-08
  • Labour – achieving change for Kiwi women
    Working towards being a world leader in eliminating violence against women and children will be a priority for a Labour Government. Releasing Labour’s Women’s Affairs policy today spokesperson Carol Beaumont said while Labour had a proud track record of achieving...
    Labour | 11-08
  • Accessible healthcare also affordable
      It is obvious from Tony Ryall’s hasty attack of Labour’s plans to extend free GP visits to older people that he hasn’t bothered to actually read the policy, Labour’s Health spokesperson Annette King says. "Mr Ryall’s response to Labour’s...
    Labour | 11-08
  • Full details of oil execs’ junket revealed
    Full details of a $237,000 taxpayer-funded oil executives' junket in 2011 have emerged.National paid the nearly quarter of a million dollars to wine and dine 11 oil executives in New Zealand during the World Cup.The trip included yachting, wine tasting,...
    Greens | 10-08
  • Nats sold 500 rugby fields of land a day offshore
    Under National over one million hectares of land has been approved for overseas sale – 16 times the size of Lake Taupō or the equivalent of five hundred rugby fields a day, Labour’s Finance spokesperson David Parker says. “According to...
    Labour | 10-08
  • Joyce’s dodgy sums fool no-one
    Steven Joyce's attempt to attack Labour's positive plan for affordable healthcare will fool no-one. "We knew that National would try to say that we can't afford free GP visits and prescriptions for the New Zealanders who need it. But, as...
    Labour | 10-08
  • Campaign Launch – Ready to Win
    Today I launched Labour's election campaign at the Viaduct Events Centre, Auckland. Here is the speech I gave....
    Labour | 10-08
  • Labour extends free GP visits, free prescriptions
    Nearly 40 per cent of Kiwis – or 1.7 million people – will be eligible for free doctors’ visits and free prescriptions under a Labour Government, Labour Leader David Cunliffe says. “Last year more than half a million New Zealanders...
    Labour | 10-08
  • Labour promises a fairer ACC for all Kiwis
    Accident compensation for loss of potential earnings will rise under a Labour Government, while people not earning at the time of their accident will also be eligible for compensation, Labour’s ACC spokesperson Iain Lees-Galloway says. Releasing Labour’s ACC policy today...
    Labour | 08-08
  • NZ Govt must push for fair play in Fiji elections
    The New Zealand Government needs to do more to push for human rights and media freedom in Fiji as it stages its first election since the 2006 coup, the Green Party said today.Amnesty International has released a report which documents...
    Greens | 07-08
  • Pacific unemployment still highest in the country
    The Minister of Pacific Island Affairs can boast all he wants about changes to employment statistics for Pacific people but the reality for many Pacific people is nowhere close to National’s promised brighter future, Labour’s Pacific Affairs spokesperson Su’a William...
    Labour | 07-08
  • Big funding injection for regions in Green Party transport plan
    The Green Party will increase transport spending in the regions by 50 percent over the next decade under its new transport plan, the Green Party said today."Transport is the life-blood of the regions. They have been starved under National," Green...
    Greens | 07-08
  • National Party Poetry Day Haiku
    Key’s inbox and Cam’s poison most foul, there he blows hoist by own harpoon...
    The Daily Blog | 20-08
  • Why Cunliffe will be the next PM
    David Cunliffe will be the next Prime Minister of NZ. Labour’s inclusive and positive TV adverts… …are in stark contrast to National’s team of white people powering away from the rabble of the ‘others’… …the messaging is vital and crucial...
    The Daily Blog | 20-08
  • From smiling assassin to grumpy butcher – on giving Judith Collins a last...
    After #dirtypolitics Key isn’t the smiling assassin, he is the grumpy butcher. When he said Judith had  a ‘last chance’ he meant 1 second after voting closes on 20th September. Key would love nothing more than to cut Collins loose and end...
    The Daily Blog | 20-08
  • If the National Party rowing advert was real….
    If the National Party rowing advert was real there would be more blood in the water. If the National Party rowing advert was real it would be Cameron Slater calling the strokes. If the national Party rowing advert was real,...
    The Daily Blog | 20-08
  • Cameron Slater: Zionist and political pundit
    It is hard to know where to start with right-wing blogger Cameron Slater (Whale Oil), especially after the release of Nicky Hager’s book Dirty Politics. This confirmed everything many of us thought Slater to be: a snivelling pundit who serves...
    The Daily Blog | 19-08
  • Bryce Edwards stood down from Herald for election season??? Are the editors...
    I only found this out via twitter last night and I am still in shock. Bryce Edwards, easily the best critical thinker and news analyst the NZ Herald has has been stood down by the NZ Herald ‘for the election...
    The Daily Blog | 19-08
  • So who’s a “conspiracy theorist” now?!
    . . As the media storm over Nicky Hager’s book, “Dirty Politics“,  and allegations over smear campaigns continue to swirl,  National’s spin doctors have given Key, Collins, and other National Party ministers a string of  phrases to use in all...
    The Daily Blog | 19-08
  • Momentum shift
    When you are deeply immersed in a local campaign sometimes it can be difficult to see the helicopter view.   I don’t know how accurate the political polls are and have always known that things can change quickly in politics...
    The Daily Blog | 19-08
  • Dear Toby Manhire. Bad call on backing Farrar
    Oh dear. I say this as someone who regards Toby Manhire as one of the smartest journalists/commentators/columnists this country has, and I think Toby has made a terribly dumb call here. Let’s see if Toby is still singing Farrar’s praises...
    The Daily Blog | 19-08
  • Radio NZ apologise to me for getting it wrong
    Radio NZ have contacted me, reviewed the claim by their host that I had an advance copy of Nicky Hager’s book and they have concluded they got it wrong, they have called me and apologised and will make a statement...
    The Daily Blog | 19-08
  • GUEST BLOG: Reclaim UoA – Students’ Message to Steven Joyce
    Tertiary Education – we’ve been sold a lemon  A group of 30 students attended an event on Tuesday evening about ‘the future of tertiary education’ at which the Minister of Tertiary Education Steven Joyce was slated to speak. As Joyce...
    The Daily Blog | 19-08
  • Can someone in the media please ask the PM of NZ to categorically deny any ...
    Now we see the MO of Slater & Co, the setting up, the digging for dirt, the use of staff to dig that dirt, can the Prime Minister of NZ categorically deny any National Party staff worked with Cam Slater...
    The Daily Blog | 19-08
  • Panic setting in for National as they realise what’s about to happen
    And the terror starts to set in. I’ve never seen blind panic like this before  and it’s spreading as the enormity of what’s about to happen starts to sink in. Hager’s book is a mere entree, Nicky’s personal ethics wouldn’t...
    The Daily Blog | 19-08
  • Hager’s Dirty Politics: what the book ultimately reveals is abuse of powe...
    Guide to the many faces of John Key Nicky’s book is now doing what I suspected it would do, create a shockwave of revulsion. Andrew Geddis over at Pundit Blog sums up this attitude best, and it’s reverberations build with every...
    The Daily Blog | 18-08
  • Fancy taking children seriously
    Let’s see why all political parties should pay close attention to the Green Party’s policy for children. First, it is a comprehensive attempt to put children, not ideology, at the heart of family policy. Wow, children at the heart of...
    The Daily Blog | 18-08
  • Amnesty International: Dear Azerbaijan, Stop Torture, Love Kiwi Kids
    This is a world where many adults often underestimate Generation Y. Being only a few years out of being a teenager myself, I feel I can make this statement with certainty. However, I have been the Youth Intern at Amnesty...
    The Daily Blog | 18-08
  • GCSB meetings today in Christchurch 1pm at Uni 7pm at Cathedral
    The 2014 GCSB meetings to discuss the mass surveillance state legislation passed by this Government will be debated in Christchurch today at two different meetings. 1pm at Canterbury University bottom floor James Height Building: Chair: Bomber Bradbury Ruth Dyson – Labour Party...
    The Daily Blog | 18-08
  • Things that 7 Sharp should probably be talking about
    Things that 7 Sharp should probably be talking about...
    The Daily Blog | 18-08
  • Guide to when Key is lying
    Guide to when Key is lying...
    The Daily Blog | 18-08
  • GUEST BLOG: Kate Davis – The State of the Student Nation …or is just Al...
    Students politics are dead and our student media is in terminal decline. The most disappointing thing about university is the politics, or should I say lack of? I was raised with the idea that students held the power.They were the...
    The Daily Blog | 18-08
  • Love Lifts Us Up: Thoughts from the Green Party’s campaign launch.
    Author Eleanor Catton wants people to give their party vote to the Greens.Photo by Peter Meecham NO ONE WAS QUITE SURE how he did it. Somehow Bob Harvey had persuaded the owners of the rights to Joe Cocker’s Up Where...
    The Daily Blog | 18-08
  • Test Stream
    width="600" height="400"> archive="http://theora.org/cortado.jar [3]" width="600" height="401">...
    The Daily Blog | 18-08
  • LIVE STREAM: You, Me and the GCSB ChCh Public Meetings
    LIVE STREAM EVENT here at 1pm & 7pm: The 2014 GCSB meetings to discuss the mass surveillance state legislation passed by this Government will be debated in Christchurch today at two different meetings. PLEASE NOTE: TDB recommends Chrome and Firefox...
    The Daily Blog | 18-08
  • Jeremy Wells’ Mike Hosking rant on Radio Hauraki: Today,
    Jeremy Wells’ Mike Hosking on Radio Hauraki...
    The Daily Blog | 18-08
  • How @whaledump might destroy the popular vote for National
    Dirty Politics is now creating a meltdown and National are in danger of a total vote collapse. The real threat to for National was if Nicky had all the emails released via the anonymous hacker who took them. That danger is now a...
    The Daily Blog | 18-08
  • Open letter to Radio NZ – you need to make a retraction now
    I have just sent this off to Radio NZ right now Dear Radio NZ Firstly, what a great interview by Guyon Espiner this morning with the Prime Minister. Great to see such hard hitting journalism. Unfortunately I am not contacting...
    The Daily Blog | 17-08
  • Radio NZ are lying about me
    I am getting this all second hand at the moment as I don’t bother listening to Radio NZ (except for that wonderful Wallace Chapman in the weekends) but there is a claim that Suzie Ferguson just insinuated on Radio NZ...
    The Daily Blog | 17-08
  • Farrar’s fake claim of being invaded + Slater’s claims of death threats...
    The counter spin to avoid focus on the series allegations made in Nicky Hager’s Dirty Politics continues. David Farrar’s ridiculous hysterics that he was invaded and his privacy has been blah blah blah has all been reduced from computer hacking to...
    The Daily Blog | 17-08
  • A shout out to the unsung heroes – our Public Service staff
    Government departments, particularly in the social welfare, education and health areas get a lot of shtick. And it’s not unjustified. We have problems in the way that our government departments treat those in need. And I do not intend to...
    The Daily Blog | 17-08
  • Key’s ducking for cover – utterly unbelievable!!!
    .   . I don’t often re-print media stories verbatim – but this piece by Andrea Vance, for Fairfax Media,  deserves wider circulation. Please note the highlighted statements by Dear Leader as he ducks, weaves, obfuscates, and deflects any and...
    The Daily Blog | 17-08
  • Hager’s Dirty Politics – Who is the source of Hager’s emails?
    Who is the source of Hager’s emails? Kim Dotcom has categorically denied he has anything to do with this and Nicky Hager has categorically denied that Kim was the source of the emails. Whatever you think about Kim (and he...
    The Daily Blog | 17-08
  • Dirty Politics – Audio+Text Why It Is Essential Raw Data Be Released Imme...
    MIL OSI – Source: RadioLive – Sunday Panel Analysis Headline: Dirty Politics – Audio Analysis by Selwyn Manning + Rodney Hide + Mark Sainsbury MIL Video: Selwyn Manning, Rodney Hide, and Mark Sainsbury discuss and debate the explosive details revealed...
    The Daily Blog | 17-08
  • TV One and TV3 Political Polls – not such a landslide now
    Before the impact of Dirty Politics has been felt, the National Party high point in the Polls had been reached and their inevitable  drop begins. Despite the mainstream media telling NZers for almost 3 years that John Key would win...
    The Daily Blog | 17-08
  • Hager’s Dirty Politics – You will not believe Key’s defence of hackin...
    He actually used a sporting analogy. Can you believe it? John Key, asked on the fact that his staff had entered into a Labour Party computer and downloaded their database, Key replied, “It’s a bit like the Wallabies positing up their...
    The Daily Blog | 17-08
  • A brief word on 100 Top political Tweeters
    The NZ Herald has put together a very useful list of top 100 political twtter accounts, what is most interesting from the lists is that the right wing all work hand in glove with each other where as the Left...
    The Daily Blog | 16-08
  • Are Whaleoil’s traffic stats a bloated illusion?
    Dim Post has done a critical analysis of just how real Cameron Slater’s traffic stats are. TDB has only been around for a year with a fragment of the digital footprint of the older blogs, yet we have managed to become...
    The Daily Blog | 16-08
  • Hager’s Dirty Politics – Is Jordan Williams deceptive enough to blackma...
    There are so many issues raised by Nicky Hager’s book, that any one of them would be worthy of total focus on. Let’s chat about the claim in the book that Jordan Williams bragged to Slater and Lusk that he had...
    The Daily Blog | 16-08
  • Hager’s Dirty Politics – Why ‘see no evil, hear no evil, speak no evi...
    This sign shows how National’s see no evil, hear no evil, speak no evil denial isn’t working. National’s response to the book is that there is NOTHING in there that deserves anything more than the most briefest of eye motions. Key won’t...
    The Daily Blog | 16-08
  • “Dirty Politics” and The Teflon Man
    . L-R- David Farrar, John Key, Cameron Slater . The release of Nicky Hager’s book, “Dirty Secrets” has unleashed more of a political firestorm than many had anticipated. (Or, perhaps some did.) The glare of publicity has been shone like...
    The Daily Blog | 16-08
  • GUEST BLOG: Lyndelle Gibara – An Open Letter to Cameron Slater
    Dear Cameron,I am in Christchurch. I am not a ‘useless prick’. I have not asked to be ‘bailed out’ nor have my ‘scum friends’ in the eastern suburbs. I lost my cafe in September, the quakes wrecked my shop that...
    The Daily Blog | 16-08
  • Hager’s Dirty Politics – Death threats or hit jobs?
    Shocked selfies while reading Dirty Politics are flooding Twitter - verily the vermin value their villainous vanity*    The beauty of Hager’s book is that there are so many horrific awful and insidious highlights, it’s difficult to know what to focus...
    The Daily Blog | 16-08
  • Hager’s Dirty Politics – Labour release emails proving Key has lied
    Labour have released emails proving Key has lied about National Party involvement into the hacking of the Labour Party computer… The Labour Party has released documents it says proves its website was hacked by people working for the National Party....
    The Daily Blog | 16-08
  • Hager’s Dirty Politics – the TV political panels are ridiculous
    The total lack of depth and shallow talent pool of TV political panel shows in NZ is providing hideous coverage and insight into one of the most important political stories of the year. Yesterday Firstline had Jacinda Ardern and Jamie...
    The Daily Blog | 15-08
  • Hager’s Dirty Politics – response to Canon NZ
    Poor old Canon NZ. They have been so damaged by appointing Cam’s mate as a judge and her awarding him their Best Blogger Award. I feel for them, I really do. They are amazing supporters of Journalism in NZ when...
    The Daily Blog | 15-08
  • Hager’s Dirty Politics – the legality of using stolen emails
    I wonder if Key is humming, “I’ve got one less problem withoutcha” as he deletes Cams number from his phone?   One of the attack spin lines being run by National Party apologists in the media is that Nicky Hager has...
    The Daily Blog | 15-08
  • Hager’s Dirty Politics – Release the emails and prove Key wrong
    It is vital in this crisis control of the meltdown that Key comes across as relaxed and not agitated, if he does he gives the game away on how damaged they are. He has to keep denying and claiming he...
    The Daily Blog | 15-08
  • Hager’s Dirty Politics – Farrar oxygen stealing stunt backfires
    Oh poor David Farrar everyone. The wee babe is on the verge of a hysterical breakdown because he concludes after reading the hideous catalogue of hate and filth that his friends have vomited up in Dirty Politics that he must...
    The Daily Blog | 15-08
  • Key’s arrogance as a leader
    There is a lot that could be said about John Key at the moment but one thing that really irritates me about him is his complete lack of remorse or regret for the lies he’s told or the things he...
    The Daily Blog | 15-08
  • Jeremy Wells’ Mike Hosking rant on Radio Hauraki: Today, Nicky Hager’s ...
    Jeremy Wells’ Mike Hosking on Radio Hauraki...
    The Daily Blog | 15-08
  • GUEST BLOG: Curwen Rolinson –Winston’s Liver? How about Minto’s Splee...
    I really do want to use my Daily Blog guest-blogger status to do more to amuse, enthuse, entertain and inflame the political classes of this country than just writing endless responses to InternetMANA affiliated personalities who seem to think it’s...
    The Daily Blog | 15-08
  • New shark finning laws fall short for threatened species
    Environmental groups are welcoming some aspects of a raft of law changes announced today in relation to shark finning, but say that overall the chance for New Zealand to catch up with international efforts in shark conservation is being missed....
    Scoop politics | 20-08
  • Promoting Labour’s Positive Policies
    General Secretary of the New Zealand Labour Party, Tim Barnett, today launched Labour’s television advertisements for the 2014 election. The advertisements help tell Labour’s positive story for a better New Zealand....
    Scoop politics | 20-08
  • Drug Court: Rare Insight into New Alternative Justice Model
    Māori Television’s latest New Zealand documentary presents a fascinating look inside a new alternative justice model – through the stories of convicted criminals....
    Scoop politics | 20-08
  • Political parties pledge to increase overseas aid
    A survey of political parties looking at how much New Zealand should spend on Official Development Assistance (ODA) shows the overwhelming majority of parties are committed to raising the bar according to the Council for International Development (CID)....
    Scoop politics | 20-08
  • Top Kiwis backing Tip the Scales campaign
    Sir Graham Henry, former All Black Kees Meeuws, singer-song writer Jamie McDell and fishing guru Matt Watson have pledged their support to Tip the Scales, a pre-election campaign generating public support for rebuilding New Zealand’s depleted inshore...
    Scoop politics | 20-08
  • Maritime Union continues to press over dirty politics
    Maritime Union National President Garry Parsloe says Ports of Auckland management is trying to get off the hook from its involvement with extreme right wing bloggers during the Ports of Auckland dispute....
    Scoop politics | 20-08
  • No end in sight to overwhelming human cost of conflict
    Two ceasefires have brought some respite to civilians in Gaza and southern Israel, amid hope that a durable cessation of hostilities might occur. In Gaza, these breaks in the fighting have barely given people enough time to seek medical care,...
    Scoop politics | 20-08
  • Young Kiwi speakers to represent NZ at Gallipoli 2015
    The RSA is delighted at the announcement made by Veterans' Affairs Minister Michael Woodhouse today, that all eight regional finalists of the 2015 ANZ RSA Cyril Bassett VC Speech Competition will be included in a group of 25 Youth Ambassadors...
    Scoop politics | 20-08
  • “Bromance” Marriage Stunt Insulting Says LegaliseLove
    A promotional competition asking two best mates to get married in order to win an all-expenses-paid trip to the 2015 Rugby World Cup is insulting, marriage equality campaign LegaliseLove Aotearoa claims....
    Scoop politics | 20-08
  • Cannabis Party first to register for 2014 General Election
    The Aotearoa Legalise Cannabis Party became the first party to register for the 2014 General Election today, when it meet with the Electoral Commission in Wellington at Midday....
    Scoop politics | 20-08
  • PGA: Addresses NZ’s ratification of Arms Trade Treaty
    President of Parliamentarians for Global Action and New Zealand MP Ross Robertson today addressed a celebration to mark New Zealand’s imminent ratification of the Arms Trade Treaty (ATT), which is expected within the next few weeks....
    Scoop politics | 20-08
  • Roy Morgan Poll August 20
    National (48%) holds its lead over Labour/ Greens (39%) as ‘Dirty Politics’ revelations provide a new challenge for PM John Key’s leadership. NZ First surge to 6.5% - highest support since September 2013....
    Scoop politics | 20-08
  • IGIS inquiry into release of NZSIS information
    The Inspector-General of Intelligence and Security (IGIS), Cheryl Gwyn, announced today that she would be instituting an inquiry concerning allegations that the New Zealand Security Intelligence Service (NZSIS) might have released official information...
    Scoop politics | 20-08
  • Glen Scanlon to Head Digital Media at Radio New Zealand
    Radio New Zealand has announced the appointment of Glen Scanlon to the recently created position of head of digital media....
    Scoop politics | 20-08
  • Israel’s Gaza ceasefire violations go unreported
    It seems that it is only ceasefire violations that emanate from the Palestinian side that ever get publicised....
    Scoop politics | 20-08
  • Drug courier sentenced for importing heroin
    South African drug courier, Laura Elizabeth Cilliers, was sentenced today in the Christchurch District Court to 7 years and 10 months in prison for importing approximately 1.2 kilograms of heroin....
    Scoop politics | 20-08
  • Residential Property Speculators Days Numbered
    Rent heat cools as homes are replaced ... Liz McDonald ... The Press http://www.stuff.co.nz/the-press/business/your-property/10400851/Rent-heat-cools-as-homes-are-replaced Comment on thread (in moderation) … Christchurch is a “severely unaffordable” City as the Annual Demographia Survey ( www.demographia.com ) illustrates … thanks...
    Scoop politics | 20-08
  • Academic’s study shows need for a Ministry of Public Input
    A book by Associate Professor Jennifer Lees-Marshment recommends the creation of a Ministry of Public Input to collect, process and communicate the publics’ ideas to government. The University of Auckland’s political marketing expert says the...
    Scoop politics | 20-08
  • Government inaction killing innocent motorists
    Innocent people are dying due to long delays in installing centre lane barriers on high risk roads, says an outspoken road safety campaigner....
    Scoop politics | 19-08
  • Property revaluations for council rates must be reformed
    Opportunity to bring controls on rating value changes and more equitable level of annual rates increase...
    Scoop politics | 19-08
  • Ron Mark Sets the Example
    The Taxpayers’ Union is welcoming the pledge by Mayor of Carterton and NZ First candidate Ron Mark who has announced he would relinquish his roles as Mayor and member of two District Health Boards if successfully elected to Parliament. Taxpayers’...
    Scoop politics | 19-08
  • Ban 1080 Candidates announced for 2014 General Election
    MEDIA RELEASE: Angry rural communities want issue of 1080 aerial drops taken to the polls, says party co-leader Ban 1080 Candidates announced for 2014 General Election...
    Scoop politics | 19-08
  • Governor General Gives Direction to Conduct Election
    The Governor General, Lt Gen The Rt Hon Sir Jerry Mateparae, has given the green light for this year’s General Election....
    Scoop politics | 19-08
  • New Zealand Animal Groups Unite to Help
    WELLINGTON (19 Aug 2014) – The Be Cruelty-Free campaign to ban animal testing of cosmetics in New Zealand just got bigger and stronger, as two leading animal protection groups come on board. Joining forces with Humane Society International which has...
    Scoop politics | 19-08
  • Students Interrupt Steven Joyce at University Event
    A group of 30 students this evening interrupted an event about ‘the future of tertiary education’ at which Tertiary Education Minister Steven Joyce was slated to speak. As Joyce began to speak, students interrupted with a speech of their own....
    Scoop politics | 19-08
  • Caritas among first responders offering relief in Iraq
    As the plight of Iraqis fleeing persecution reaches tragic levels, Caritas Aotearoa New Zealand has pledged an initial $10,000 to support the work of Caritas in Iraq to provide humanitarian aid to thousands of families affected by the war and...
    Scoop politics | 19-08
  • iPredict 2014 Election Update #31: Nats take hit
    Election race narrows significantly · National party vote now below Labour/Greens · National’s probability of leading next government dips to 72% · Joyce expected to take over as National leader before end of 2015, as Collins’ prospects fall...
    Scoop politics | 19-08
  • Call for applications – Fulbright scholar awards
    Fulbright New Zealand calls for applications to a range of scholar awards for New Zealand academics, artists and professionals to undertake academic and cultural exchanges to the United States of America. A Fulbright exchange provides life-changing opportunities...
    Scoop politics | 19-08
  • CWS launches appeal for Iraqis on World Humanitarian Day
    Christian World Service is appealing for help for tens of thousands of Iraqis caught up in one of the world’s horrifying conflicts....
    Scoop politics | 19-08
  • Promoting the Voice of the Rangatahi
    Young Māori voters are seen by the Māori Party to have a vital part to play in saving the Māori seats in Parliament says the Māori Party’s youngest candidate, Reverend Te Hira Paenga. “What we’re hearing on the ground is...
    Scoop politics | 19-08
  • Nelson Election Candidates’ Community Forum
    Nelson’s community and volunteer sector has some serious questions to put to the local candidates in the run up to next month’s general election....
    Scoop politics | 19-08
  • Research NZ Budget Observer – Still On Track For Surplus
    New Zealand's Treasury today released their pre-election budget update, ahead of the 20 September vote. The government still expects to get back to surplus in 2014/15, albeit a slightly smaller surplus than expected in May. The growth forecasts were...
    Scoop politics | 19-08
  • Nicky Hager’s first public comment on police investigation
    A complaint has been laid with police by Cameron Slater over the hacking of his computer and 'theft' of emails to supply to Nicky Hager for his explosive book Dirty Politics . We give Nicky Hager the first chance to...
    Scoop politics | 19-08
  • Disabled Person’s Organisations report sent to UN
    A report written by Disabled Person’s Organisations (DPOs) representing the voice of disabled New Zealanders has been released and sent to the United Nations today....
    Scoop politics | 19-08
  • Fuel and electricity price gouging hits regions hardest
    Mere Takoko - New Zealand First East Coast Candidate For Immediate Release - Tuesday, 19 August, 2014...
    Scoop politics | 19-08
  • Government “opening of the books” shows wasted opportunity
    “The economic and fiscal forecasts in the pre-election update – the ‘opening of the government’s books’ – shows how the Government has failed to grasp the opportunity of the Global Financial Crisis to rebalance the economy,” says CTU...
    Scoop politics | 19-08
  • Kiwis take up the challenge to end extreme poverty
    High profile New Zealanders have been invited to participate in Live Below the Line (LBTL). Part of a global initiative, LBTL challenges Kiwis to raise awareness of extreme poverty and to live on a daily food budget of $2.25 for...
    Scoop politics | 19-08
  • NZ Independent Coalition announces strong list
    NZ Independent Coalition Secretary Helen Anderson announced the party’s candidates for the 2014 election today - 10 candidates total, with four also standing in electorates....
    Scoop politics | 19-08
  • National Chooses to Campaign on High Tax, High Spend Policy
    The Taxpayers’ Union is slamming Bill English’s indication that the National Party will not offer voters any indication of tax cuts before next month's general election. Speaking to journalists and analysts in the Pre-election Economic and Fiscal...
    Scoop politics | 19-08
  • SSC survey shows way forward for better public services
    The Public Service Association (PSA) has welcomed the release of the State Services Commission’s (SSC) Integrity and Conduct Survey 2013 , which it says indicates what needs to be done to strengthen the public services that New Zealanders use and...
    Scoop politics | 19-08
  • Talent pipeline is the key to correcting gender balance
    Building a talent pipeline that fosters talented young women from early on in their careers is the key to gender balance at the most senior levels, according to EEO Trust Chief Executive Bev Cassidy-Mackenzie....
    Scoop politics | 19-08
  • A-Team of Election Data Analysis For Election 2014
    NZ's leading independent online news source Scoop.co.nz has teamed up with data heavyweights Roy Morgan Research and Spark Venture's brand-new big-data start up Qrious to deliver a under the covers perspective on the 2014 NZ General Election that has never...
    Scoop politics | 19-08
  • Pre-election Economic and Fiscal Update 2014
    Full PREFU: prefu14whole.pdf Full Executive Summary with charts: prefu14pt2of11.pdf Online: Pre-election Economic and Fiscal Update 2014 — The Treasury - New Zealand...
    Scoop politics | 19-08
  • Survey of Integrity and Conduct in the State Services
    The State Services Commission (SSC) today published the report of the 2013 Integrity and Conduct Survey of the State Services. “The New Zealand State services is rated highly internationally for its standards of integrity and conduct and is considered...
    Scoop politics | 19-08
  • Demand for Same-Sex ‘Marriage’ Underwhelms
    Family First NZ says that one year on from the marriage law being politically manipulated, the demand for same-sex marriages has been underwhelming with just 318 same-sex couples rushing to take advantage of the new definition to formalise their relationship...
    Scoop politics | 19-08
  • Jacinda Ardern talks about life as an MP
    A class of Albany politics students gained some insight into life as a Member of Parliament this week, with a visit to campus from Labour List MP Jacinda Ardern....
    Scoop politics | 18-08
  • Regional issues top agenda for election debate
    Wellington regional issues, from the flyover to extending the airport, will be in the spotlight at an election debate at Massey University’s Wellington campus tomorrow....
    Scoop politics | 18-08
  • Walking and the Election
    The Green Party has topped the polls while National has failed to register according to NZ's pedestrian advocacy organisation Living Streets Aotearoa (LSA)....
    Scoop politics | 18-08
  • Evidence of the dubious tactics of the alcohol industry
    Nicky Hager’s latest book “Dirty Politics” reports the alcohol industry works behind the scenes to actively try and smear the professional reputation of people who promote effective alcohol reforms in New Zealand, as well as other public health...
    Scoop politics | 18-08
  • ACT’s plan to double cycle use without spending taxes
    "The National party yesterday announced a $100 million cycle-way that just happens to go through the marginal seat of Hutt South" said ACT Leader Dr Jamie Whyte....
    Scoop politics | 18-08
Images of the election
Public service advertisements by The Standard

Current CO2 level in the atmosphere