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$2.49

Written By: - Date published: 7:23 pm, May 20th, 2013 - 99 comments
Categories: capitalism - Tags: ,

That’s what Mighty River stocks closed at today. Down on their issue price within ten days.

And there’s a strong chance that the Meridian float will sink the price of Mighty shares even further – they’re companies with similar profiles, are regulated in the same way, and are fighting over the same limited customer base so there’s a strong likelihood that the market will see them as similar enough shares that even more coming on the market just keep pushing that price point down. After all how many billions of dollars are there available for New Zealand electricity shares? And if the billions are there, where are they coming from?

The funny thing is that I think National know this. They’re not interested in actually making money out of this sale. They’re interested in shrinking government and transfering wealth.

There’s been a lot of big finance talk about the sale of these assets lately, and quite a bit of political horse-race stuff, but very little economic analysis. So my question is – does anyone really still believe this fiasco makes economic sense? Or is it just considered a fait accompli?

99 comments on “$2.49 ”

  1. Mary 1

    Great stuff. Long may they fall.

  2. Colonial Viper 2

    Less another $60 in sharebrokers commission if you want to sell your shares. OUCH

      • Colonial Viper 2.1.1

        Ah I stand corrected. You only lose 1c per share and $30 brokerage 🙂

        • David H 2.1.1.1

          3000 shares +brokerage would equal 60 bucks, so yes ouch!

          • Financially literate 2.1.1.1.1

            Bullshit. Read the links.

            • Colonial Viper 2.1.1.1.1.1

              hmmmm time you pull your (calculator) out…

              • Financially literate

                Bullshit. It does not need to cost people $60 for brokerage. 3,000 * 2.49 = 7,470 which is less than 10,000 (anz) or 15,000 (direct brokering). At Asb it is also less than 0.3% of 10,000 which is equal to $30. All easily done online with no joining fees.

                • RJL

                  The average sharetrade of MRP at the moment is $50k worth of shares. On the day of launch the average value of a trade was more like $100k.

                  That looks like the profile of big(ish) individuals who are selling (and probably institutions who are buying). Or maybe institutions selling partial holdings.

                  Mythical Mum and Dads with $8k worth of shares don’t seem to be trading at the moment. They are just losing the paper gains that they made last week.

                  • felix

                    The mums and dads can get fucked. They’re marketing dupes. They’ll watch the price stagnate for a while then sell offshore.

                    • SomeSuch

                      Charming.

                    • Rich

                      Yup, they got the biggest rooting since they became a mum and dad in the first place.

                      Doubt there’ll be many takers next time.

                    • SomeSuch

                      Settle down Rich. No ma and pa who preregistered has been ‘rooted’. Each has a margin of safety of up to 10c per share up to 5,000 (loyalty bonus) at the listing price of $2.50. Plenty of water to go under the bridge yet.

                    • Colonial Viper

                      So you have to rely on a government based top up gift in order to make money from this MRP deal? So much for the free market.

                    • SomeSuch

                      It’s hard to determine whether your stupidity is willful or instinctual. I guess that’s splitting hairs.

                    • RJL

                      Somesuch,

                      Any Mum and Dads who are selling right now are getting screwed. Largely by themselves. You are quite right that they should just sit tight. And the “loyalty bonus” just makes it even more sensible to just sit.

                      Around 100 small traders ($10k or less) started selling today, when the price nudged back to $2.51. That seems to fit the profile of Mums and Dads who panicked.

                    • Colonial Viper

                      The big institutions are just doing their thing of shaking out the weak hands and collecting a few more cheap shares for their big money boys.

                  • RJL

                    Although having said that in the last 20 minutes, or so, about 30 trades of only $5k have taken place. That would be Mums and Dads panicking and getting screwed.

                  • freedom

                    you do understand what a mean and a mode average are don’t you RJL?

                    $2.49

  3. BM 3

    Mighty river power is more about dividend than share price.

    • RedBaronCV 3.1

      Spare me BM – there is a linkage between dividend and share price less the nil prospect of a capital gain.

  4. Descendant Of Sssmith 4

    Wonder if Mr Gaynor will fess up to if he has dumped his shares as per his normal practise of pump and dump.

    Yep got all that short term profit to make.

    Wonder if IRD will tax those who have sold – obviously those that have sold weren’t investing.

    • Jared 4.1

      Care to back that statement up that Brian Gaynor and or Milford Asset Management pump and dump?

      • Colonial Viper 4.1.1

        Investors in his funds should be able to see how many MRP he has left.

        btw I think Gaynor can do a dump of MRP stocks; but his fund is not big enough to do a significant pump.

      • Descendant Of Sssmith 4.1.2

        I’m referring to the fact that he has been encouraging mum and dads to buy the shares thereby increasing demand and price while running a business that does not hold onto shares for the long term.

        Quote:
        Milford adopts a highly active approach to portfolio management in order to attempt to take advantage of changing market conditions and investment opportunities.

        So having encouraged people to buy, without to my knowledge ever prefacing his media comments with the information that he often sells when prices rise, rather than wait for dividends over the long term has he already sold any shares purchased?

        It just seems wrong to me.

        You might have some technical definition of pump and dump that sets a more than the colloquial description that I think of but the phrase seems to describe the notion of talking the price up and selling perfectly to me.

        I’m just really asking whether he did sell when the price went up and is there any conflict in telling others to buy in the way he did?

  5. andy (the other one) 5

    Institutional investors did not have to pay for shares until the Wednesday after the float (3 days of free money), they have secured their balance sheets at the expense of 80,000 stupid mum and dad first time investors.

    How you feeling now , Mum & Dad. You have been rolled by John Key, the NZX and Banksters Inc…

    Marketing won, we lost…

    • Lanthanide 5.1

      I don’t understand this comment. Various financial commentaries I’ve read said it would be/was the institutional investors, both in NZ and foreign, that would be buying up on the first day of listing, to meet their required investment thresholds, and mum & dads that were selling to them.

      • Tamati 5.1.1

        You’re correct. A few greedy speculators will always try to “stag” the IPO and cash in early when institutional investors try to increase their portfolio.

      • andy (the other one) 5.1.2

        Basically the shares were floated at lunch time on Friday and Institutional investors and other large volume buyers were not required to settle until the following Wednesday. The likes of Milford Asset Management, could sell and take profit with little or no risk (Arbitrage).

        Mum & Dad investors had the money taken weeks prior to listing, the game was rigged in favor of the big boys.

        Kiwisaver and Cullen Fund buyers are holding long term so the price fluctuation is not so important vs the dividend stream.

        • Lanthanide 5.1.2.1

          “Mum & Dad investors had the money taken weeks prior to listing, the game was rigged in favor of the big boys.”

          Ahh, right. I thought you were saying the big boys took advantage of the mum & dad investors directly, rather than just that they had an advantage.

      • RJL 5.1.3

        The average sharetrade was around $100k on the first day. So that implies it was not Mums and Dads that were selling.

        • freedom 5.1.3.1

          I guess when you include the million dollar plus trades (that mums and dads do every day) then yeah the average share trade value is quite high, but that would be the good old mean average so beloved by liars and spin doctors. Not the mode. Like when [people] say the average NZ income is $45-50K (mean) and not the $25-30K (mode) range that the vast majority of kiwis actually earn. It just sounds better doesn’t it? Who wants to be reminded most kiwis earn under 30K a year.

          I recall this TV3 article from the night which plainly stated that small holdings of only a few thousand shares were the most common range traded
          http://www.3news.co.nz/Govt-happy-with-Mighty-River-Power-share-rise/tabid/369/articleID/297324/Default.aspx

          • RJL 5.1.3.1.1

            Yes, there is a difference between mean and median, etc.

            However, with share trades (on NZX, at least) there are still only a small number of total trades involved. So the few large trades are in fact most of the market (there is not a vast number of tiny trades).

            For example, right now there have only been 379 trades today of MRP shares for a total of about $20M of shares. Most of the value is in trades >$50k, plus 100-200 or so trades for tiny amounts (<$10k, some for only $100s). The people making money are the large traders. The small traders are just getting screwed on brokerage fees.

            • freedom 5.1.3.1.1.1

              “The average share trade was around $100k on the first day. So that implies it was not Mums and Dads that were selling.”
              “there are still only a small number of total trades involved. So the few large trades are in fact most of the market”

              So using an admitted mean average artificially inflated the figure to back up your assertion that it was not mums and dads selling. So transparent, it is embarrassing. You do realise you have admitted this 100K figure was a result of misrepresentation and has little relationship to the reality of trades on the day. Trades which all other data shows were predominately small holdings. Otherwise called Mums and Dads.

              • RJL

                No. The majority of the trade today (and everyday since the MRP float) has been relatively large(ish) volume traders. Who are trading stock packages valued around $50k-$200k. I.e., unlikely to be Mums and Dads.

                There have also been a similar number of tiny volume traders active, who are potentially Mums and Dads. And admitedly, quite a lot of these minnows have been active today — at least since the price went back to $2.50. But these traders represent a tiny proportion of total trades — due to the small numbers involved. And they represent a tiny proportion of the 100,000 or so Mums and Dads that purportedly exist.

                If today’s MRP trade was mostly due to Mums and Dads you would need thousands of Mum and Dad scale traders selling their entire portfolios to make up today’s total volume.

                You can use the interwebs to look at the numbers yourself if you are interested.

                • freedom

                  “on the first day.”
                  you are one of these people who just cannot simply say, ‘i made a mistake, my bad’ and move on

                  “on the first day.” does not mean any other time but the first day and they were your words and the article i referenced was about the first day and the numbers you gave were about the first day

                  have a good day

              • alwyn

                You are clearly mistaken.
                I remember on the first day of trading hearing Russel Norman explaining what was going on.
                Somehow the genius that he is was able to look at a string of trades that had taken place, and bear in mind they only gave the volume and the price, and determine that all the trades were by small shareholders selling out to large overseas based investors. Clearly he is a genius, and you story must be wrong.
                Incidentally it is impossible to tell whather all trades are by small holdings. You can only tell at best one side of the trade. For example if I buy 100,000 shares it may show up as 20 trades at 5,000 each, if I was buying from people who had that to sell.
                If on the other hand I wanted to sell 100,000 shares it could show up as 20 trades, also at 5,000 each. You cannot distinguish either of those from 20 trades each by a person wanting to buy 5,000 from 20 other people wanting to sell 5,000

                • freedom

                  I am sure that might happen sometimes but I don’t believe stock holders regularly do twenty small trades on the same day, with the associated multiple fees, rather than the one or two larger trades

                  your explanation screams of desperate spin
                  but then again you are trying to defend stock trades so spin away alwyn, spin away

                  • alwyn

                    I am afraid that you don’t understand how the sharemarket works.
                    Suppose I want to buy 100,000 MRP shares. I ask my broker to do so.
                    Suppose also that there are 20 small shareholders who are willing to sell 5,000 shares.
                    For the moment ignore the fact that they have to be the ones willing to accept the lowest price and so on. This only determines who I end up buying from.
                    The above scenario would cause 20 transactions to be recorded of 5,000 shares each. Note that I did NOT initiate 20 trades. It was just that they were the size of parcels available.
                    Similarly if I wanted to buy 5,000 shares and I was willing to pay a higher price than anyone in the market, and there was a seller who had 100,000 for sale I would get them from him, even though in total he wanted to sell more. This would show up as a trade of 5,000. His remaining 95,000, if sold, would show up as 1 or more other trades.
                    I am not “desperately spinning” You just don’t understand how the stockmarket works. The whole point about the crap that RN was mouthing was that he hadn’t the faintest idea who was making the trades. He was just spouting bs.

                    • freedom

                      I get that, I do. Who was selling the shares is what was being discussed. It comes down to the most likely scenario and if people are selling small blocks on the first day they were more likely small stockholders, ie ‘mums and dads’. If it was a larger stockholder why would they bother selling piecemeal packets of their master of the universe folios.

                      p.s. alwyn, My spin comment was a bit out of line, apologies for that.

                    • alwyn

                      My point was that you can’t tell, from the material that Russel Norman was talking about, whether it was a small seller, in which case your supposition is correct or whether it was a small buyer wanting to round up his initial allocation and a large seller whose offering was being taken up by a number of small buyers. They could have received a decent lot but not enough to really satisfy them and they may have decided to drop out completely.
                      That is why there is the alternative interpretation that it was large sellers, and small buyers. I don’t know which it was, neither do you and neither does Russel Norman. That is why I think he was just spouting any bs that suited him.
                      I wasn’t trying to “spin” it but I think that RN certainly was.
                      Thank you for the last comment. It is very easy, particularly when one is annonymous to get a little extreme, such as my comment “You just don’t etc”. Consider that withdrawn.

                    • RJL

                      You are quite right that lots of small trades could mean either a small number of big sellers selling small packages or many smaller traders each selling small amounts.

                      However, the NZX tells you the volume of individual trades as they happen (possibly with a time lag depending on how you access the data). So, it is easy to identify that most of the value of MRP share trade is occuring in packages that are typically too big to be Mums and Dads.

                      A little trade can be either a big trader or a Mum and Dad, but big trades can only be made by big traders. With the proviso that “big” merely means in excess of $10k, which is well above the mythic Mum and Dad holding size.

  6. RedBaronCV 6

    I’m thinking it might be time to buy a few and give them to the Green’s and David Cunliffe’s electoral committe as a donation. Good use of money and would enliven the AGM.

  7. Suitably Clueless 7

    I am utterly illiterate economically when it comes to the share market, it may as well be sorcery. As far as this mixed ownership model goes, why would or should I buy shares to own a utility that is feasibly in my share as a taxpaying citizen? I sincerely hope that these ‘mum & dad’ investors hold on to their shares for as long as it takes to get them back. Leave the big boy games to the big boys.

    • Tamati 7.1

      Because any dividends and capital gains you receive from shares you own privately, are yours to spend as you wish.

      • Colonial Viper 7.1.1

        While depriving the government treasury of funds with which to provide services to NZers with, and increasing the nation’s dependence on foreign financiers and debt.

    • MrSmith 7.2

      There’s not a-lot to understand, basically it’s like a casino where Mum’s and Dad’s get shafted and the company owners and those in the know make off like thief’s, the dealers (share brokers) are also paid well.

  8. JK 8

    “They’re not interested in actually making money out of this sale. They’re interested in shrinking government and transfering wealth”.

    I reckon you’ve got it right, Irish Bill. This govt is only interested in transferring NZ wealth and assets to their overseas rich corporate mates. They don’t care about NZ – DonKey certainly doesn’t – he’s more interested in helping his overseas mates (who may/or may not have helped him into his current position !)

    • North 8.1

      Really does seem to be the way. Stuff of a novel.

    • felix 8.2

      “They’re not interested in actually making money out of this sale. They’re interested in shrinking government and transfering wealth”.

      Yep, and John Key said as much in parliament.

      When asked “Is there a bottom line below which he would not sell our profitable assets; and if so, what is that bottom line?”,

      he answered “The bottom line is that it has got to be the right thing for New Zealand, and it is.”

      There you have it: No financial bottom line; just an ideological one.

      • Colonial Viper 8.2.1

        Thank goodness there’s at least one party left which stays true to its political economic ideology. Just sucks they’re the Tories.

  9. Jimmie 9

    10 days? Well hopefully most of the investors take a slightly longer outlook than 10 days when they purchased the shares.

    Look back in 6 months or 1 years time and you will be able to decide if it was good buy or not – also dividend announcements in August.

    • Tamati 9.1

      +1

    • IrishBill 9.2

      As a right winger you will believe that the market prices dividend and future value into the cost of the share.

      And the market has decided these shares are worth less than they were ten days ago. In fact if you take the closing value on float day into account as the first clear market price they are worth considerably less than they wore ten days ago.

      That means the market has decided the future growth and dividend stream isn’t good enough to see the share increase. It’s close to a perfect market. Which means price is nearly perfectly correlated to value. And the price has fallen.

      • King Kong 9.2.1

        Irish makes an excellent point on how well Key and the National government have done in getting, what appears to be, a top of the market price for their shares in MRP.

        What am outstanding outcome for the country.

        • Lanthanide 9.2.1.1

          Minus the $100m+ cost of sale and the price per share they achieved is probably more like $2.30-40.

          Sorry.

      • The Gormless Fool formerly known as Oleolebiscuitbarrell 9.2.2

        If MRP is worth less than it was before, the government is onto a winner, isn’t it? They have exchanged shares on the way down for cash. The State has won out over the capitalists. You should be celebrating that, IB.

  10. The Gormless Fool formerly known as Oleolebiscuitbarrell 10

    Irishbill’s onto a winner here. If the price drops, the public have been sold a pup. If it rises, the Nats have ripped the people off. He cannot lose.

    • Colonial Viper 10.1

      More like the people of NZ cannot win. Just the 1% who collect banksters fees and brokerage commissions.

    • burt 10.2

      Irish is supporting blind opposition – no need to think – just parrot Labour = good, National = bad.

      • Colonial Viper 10.2.1

        When did you suddenly become a fan of thinking and independent thought?

  11. Augustus 11

    And now the people of Christchurch are told that selling some of their assets they built up could be flogged of to pay for that nice Convention Centre they’ve been hanging out for since the earthquake. The people I saw on Campbell Live last night will be delighted to know that they’ve been heard by Key.

    • Lanthanide 11.1

      If the decision is ultimately up to the council, then they won’t sell the assets, because the people of CHCH won’t let them.

      CCC has the lowest debt out of any council in the country, precisely because they didn’t sell off their assets as was the vogue back in the 90’s.

      • tracey 11.1.1

        …and dont have the leaky home liability of Auckland, shitloads is being outlaid paying for that mess.

  12. Wayne (a different one) 12

    Congratulations Labour, you have been very successful in wiping considerable value of a New Zealand asset.

    I just can’t wait for the economic package the left are going to roll out for the election campaign. I’m sure it will make rivetting reading – not!

    • One Anonymous Knucklehead 12.1

      Have they damaged the dams? Or stopped the flow of wind and water?

      You really need to learn the difference between your wallet and the country.

    • Arfamo 12.2

      Congratulations Labour, you have been very successful in wiping considerable value of a New Zealand asset.

      How do you figure that? The value to everyone was greater before the Natsys decided to put it on the market. The Natsys devalued it.

    • tracey 12.3

      The market has done that. You forget some people just made a BIG profit in a few days. Those who bought at issue price, sold when it went high, pocketed the profit and will probably buy back in near the current price. They can do that because unlike the mums and dads (fictional) with $2000 worth of shares the $60 brokerage fee meant doing the same thing was of no benefit to them. Funny how it favoured the people from the PM’s former “profession”.

      Interestingly, no release from the Government as to how many oft he expressions of interest were fictional names…

  13. Mr Interest 13

    ENERGY SECURITY

    NZ Sells off renewable energy producing Assets and makes more roads (i.e. oil dependent)

    cf

    America invests heavily in developing an Energy Security Trust (go the yanks….)

    http://www.whitehouse.gov/blog/2013/03/15/what-you-need-know-about-energy-security-trust

    Quote:

    “America’s scientists are a national treasure. Every day, idea by idea, innovation by innovation, they are developing new technology that will help secure our energy future. If we want to keep moving forward, we need scientists to keep inventing and innovating, to keep unlocking new solutions and pushing new breakthroughs.

    In his 2013 State of the Union address, President Obama called on Congress to create an Energy Security Trust Fund, which would free American families and business from painful spikes in gas prices. The President’s plan builds on an idea that has bipartisan support from experts including retired admirals and generals and leading CEOs, and it focuses on one goal: shifting America’s cars and trucks off oil entirely.

    So how does it work? The Energy Security Trust will invest in research that will make future technologies cheaper and better – it will fund the advances that will allow us to run cars and trucks on electricity or homegrown fuels, and on the technology that will enable us to drive from coast-to-coast without a drop of oil.”

    So we as a small nation flog off our best energy producing assets…. an opportunity lost….. (we can leverage off the future technology from the above research). Oh no that’s right…. some investor will.

    The game is changings

  14. Wayne (a different one) 14

    And what of the 1 million plus people who have invested their ‘hard earned’ money in Kiwisaver – so you say to them – ‘tough’, your investment has just gone backwards.

    All courtesay of some mis-guided Labour loonies.

    And to you knucklehead – you just have no grasp economics, but then thats pretty typical of the left.

    In fact, you’re a bloody economic tragic, given you’re comments.

    • One Anonymous Knucklehead 14.1

      Coming from a right whinger that’s a compliment.

      Hysterical abuse where an argument belongs – “loonies” – is pretty typical of the right.

      I note that Contact Energy shares (after an initial gain) went down before they went up. Was that Labour’s fault too?

      PS: If the Green/Labour policy announcement put the fear into the maggots as you assert, I hope there’s more where that came from, because you people have spent thirty years too many pushing your incompetent tripe.

      Two words: Thomas Herndon.

    • Colonial Viper 14.2

      Wayne – this should teach people to put their hard earned money in the hands of grubby little financiers and profiteers.

    • Arfamo 14.3

      The situation wouldn’t even exist if National hadn’t created it. Stop crying.

    • RJL 14.4

      …who have invested their ‘hard earned’ money in Kiwisaver…

      That would be a decision made by the fund managers of the various Kiwisaver schemes.

      A large fund could have made a high risk investment for short-term gain, in which case they’ve probably been and gone and already dumped their stock when the prices was around $2.60 (or higher).

      Alternatively, a large fund could be investing for the long haul, for dividend pay-back (and possibly long-term stock price growth). In which case the stock price right now is largely irrelevant — and it is in fact better to be lower, so that the fund can buy more shares now.

      In either case, the fund managers would have done their numbers and managed their risk appropriately. If the fund managers are competent, there should not be any significant disasters.

    • tracey 14.5

      They didnt have to buy, remember they paid for their shares AFTER Labour and the Greens indicated they might change the legislation if elected. It was good they gave people a “heads up”.

      Did you think investing int he stock market was a bubble free of any influences Wayne? This grasp of economics you speak of Wayne, is it the economics that leads to banks being bailed out or stockmarkets crashing?

      Panicking about a short term fluctuation in stock prices exposes your economic ignorance Wayne.

  15. The Gormless Fool formerly known as Oleolebiscuitbarrell 15

    If the price is tanking, maybe we should sell the rest of the shares.

    • freedom 15.1

      OleOle, to almost any other commenter, I would suggest you forgot the sarc tag
      sadly you are being as straight as you know how
      and would like nothing more than the final traces of public ownership to be donated to the troughers

  16. Binders full of viper- women 16

    Holy shit.. that makes me down a whole 400 cents… gotta hurt a RWNJ/ asset thief.

  17. Mark Fletcher 17

    Probably pointless making this comment but here goes.
    Closed today at $2.51 above their issue price in one more day!
    Posting hysterical posts “about a short term fluctuation in stock prices exposes your economic ignorance” Tracey.

  18. Mark Fletcher 18

    You say “They’re interested in shrinking government” what could possibly be wrong with that?
    Or do you want the government to interfere in all aspects of your lives?

    • The Gormless Fool formerly known as Oleolebiscuitbarrell 18.1

      Deep down, I think you know the answer to that, Mark.

    • IrishBill 18.2

      That’s a false binary. I, like most non-ideologues, want a mixed economy in which the government owns and runs essential services that are strategic, have high entry barriers, and tend toward monopoly or cartel behaviour. Electricity is very much in that basket.

      It seems to me you’re quite happy to have private interests interfering in your life but I’m more of a fan of economic sovereignty and democratic accountability.

      And Ole, for your own sake, please don’t immediately suck around the ankles of any new rightie that turns up spouting roarkian drivel – it’s undignified.

      • Saccharomyces 18.2.1

        “want a mixed economy in which the government owns and runs essential services that are strategic, have high entry barriers, and tend toward monopoly or cartel behaviour. Electricity is very much in that basket.”

        And what about the mixed ownership model in place for MRP contradicts this statement? Government still has majority shareholding, and retains control.

        • One Anonymous Knucklehead 18.2.1.1

          “…retains control…”

          Link to the last time this ignorant garbage was debunked.

          We need better wingnuts.

          • Saccharomyces 18.2.1.1.1

            Thanks for that!

            Shit, might as well sell them off completely then!

            • One Anonymous Knucklehead 18.2.1.1.1.1

              See IrishBill’s comment above. The one you claimed meant the govt. “retains control”. The key words are “essential” and “strategic”.

              “Essential” means you must have it.

              “Strategic” means it is part of a big plan.

              I hope that makes it easier for you to grasp.

        • Colonial Viper 18.2.1.2

          And what about the mixed ownership model in place for MRP contradicts this statement? Government still has majority shareholding, and retains control.

          Because its just shifted control and ownership of even more core economic infrastructure to the private sector.

          Guess it’ll just have to be shifted back over time.

        • prism 18.2.1.3

          IB 😀

      • The Gormless Fool formerly known as Oleolebiscuitbarrell 18.2.2

        ..and I’m all about the dignity.

  19. SomeSuch 19

    “And if the billions are there, where are they coming from?”

    Collectively NZ households have $115b in deposits with registered banks. In total they collectively have $240b in financial assets, with a net $48b of financial wealth. On top of this financial wealth, NZers have around $442b in net housing equity. Household disposable income is approximately $132b p.a. In other words NZ households have billions that could be allocated to purchasing equities in M.O.M should the investments stack up against other alternative uses.

    http://www.rbnz.govt.nz/statistics/monfin/c18/download.html

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    Bryan GouldBy Bryan Gould
    10 hours ago
  • Something is missing from this picture
    Yesterday the National Party picked a new leader, who seems indistinguishable from the last-but-one. Today, Stuff has an article exploring where he stands on the "big issues", which looks at "faith and politics", "identity and housing", "three Waters and He Puapua", and "health and social investment". What's missing? Just climate ...
    No Right TurnBy Idiot/Savant
    10 hours ago
  • Chris Luxon – Day One
    Frankly SpeakingBy Frank Macskasy
    11 hours ago
  • NZ Politics Daily: 1 December 2021
    Today’s NZPD testimonial from Leo Milani, Policy Advisor, Waimate District Council: “NZ Politics Daily offers an indispensable survey, and methodical analysis of, NZ media’s coverage of the most pertinent political issues of the day. Its format, content, and quality renders it a vital tool not only to the general reader, but also ...
    Democracy ProjectBy bryce.edwards
    13 hours ago
  • 2021 Reading Log: November
    Completed reads for November: Unfinished Tales, by J.R.R. TolkienMurder in Mesopotamia, by Agatha ChristieCreative Metal, by Len GaleThe Man in the Brown Suit, by Agatha ChristieEndless Night, by Agatha ChristieLord Edgware Dies, by Agatha Christie ...
    18 hours ago
  • A strong start – but can Luxon last?
    The first thing Chris Luxon did publicly after being elected as the 15th leader of the National Party was thank his colleagues. It was the proper thing to do. For it is only thanks to the cloak and dagger politics that they’ve engaged in over the past three years that ...
    PunditBy Tim Watkin
    1 day ago
  • Air New Zealand flight attendant named CEO after one year on job
    A 51-year-old flight attendant has completed a swift and stunning rise to CEO of Air New Zealand. New Zealand’s national carrier, Air New Zealand, has expressed great enthusiasm in announcing its new CEO today: 51-year-old Nathan Guy, a flight attendant who has spent about 1200 hours on the job. Guy ...
    The CivilianBy admin
    1 day ago
  • A true story
    by Daphna Whitmore In a recent debate on free speech I closed with a true story. A woman I know – a writer – tweeted a joke in response to a man having just insulted her on the platform. The joke featured some violent imagery, but it also featured absurdist ...
    RedlineBy Admin
    1 day ago
  • Māui Tikitiki a Tāranga inspires Māui Hudson’s research journey
    Māui Hudson says the characteristics of his namesake, the Māori diety Māui Tikitiki a Tāranga, enables and inspires him to confidently walk into new spaces of research. He hails from Te Whakatōhea, Ngāruahine and Ngāpuhi. Māui is a trained physiotherapist but is well-known for his leadership in creating guidelines and ...
    SciBlogsBy Rosemary Rangitauira
    1 day ago
  • Driven to help the planet and humanity thrive
    Mihi mai ki a Dr Te Kīpa Kēpa Morgan, a professional engineer, who’s inspiring a different value system that he says can help humanity thrive and safeguard the sustainability of our planet. Kēpa affiliates to Ngāti Pikiao (Te Arawa), Ngāti Kahungunu and Ngāi Tahu. For more than a decade, Kēpa’s main ...
    SciBlogsBy Rosemary Rangitauira
    1 day ago
  • Gordon Campbell on why an attack on Iran is back on the agenda
    Reportedly, Christopher Luxon has the edge on Simon Bridges in National’s leadership contest although there is no firm evidence for that hunch. So, one hesitates about joining a media echo chamber that amplifies Luxon’s chances ahead of the 3pm caucus meeting today. You know how it goes: Luxon doesn’t quite ...
    1 day ago
  • NZ Politics Daily: 30 November 2021
    Today’s NZPD testimonial from Dr David Bromell, Senior Associate, Institute for Governance and Policy Studies: “While working as a public policy advisor, NZ Politics Daily was a daily “must read” as it alerted me to wider public policy issues than workplace-based media scanning, which generally covered only subject areas that related directly to ...
    Democracy ProjectBy bryce.edwards
    1 day ago
  • Can genetically engineered seeds prevent a climate-driven food crisis?
    This is a re-post from Yale Climate Connections by Samantha Harrington When John Boelts sows acres of cotton seed on his farm in Yuma, Arizona, he does so knowing that the fields will be free of an invasive pest called pink bollworm. For nearly a century, the small pink striped ...
    2 days ago
  • The Simple Thing That’s Hard To Do.
    What's Not To Like? There’s a reason why the self-evident benefits of a “one world government” arouse such visceral opposition from those with a vested interest in both the local and the global status quo. A world run for the benefit of all human-beings strikes at the very heart of the ...
    2 days ago
  • A Stay of Execution: The National Library of New Zealand Caves to Authors
    Well, well. Looks like Christmas has arrived early, with a victory over vandalism. You may recall this little furore about the future of the National Library of New Zealand’s Overseas Published Collection: https://phuulishfellow.wordpress.com/2021/11/22/lack-of-public-service-announcement-the-national-library-of-new-zealand-internet-archive-and-alleged-digital-piracy/ Well, those outrageous plans to digitise and pirate copyrighted works have got enough negative attention ...
    2 days ago
  • Climate Change: We can do it!
    RNZ reports on the other story to come out of the government's emissions budget Cabinet paper: the scale of the changes we need to make: The massive scale of the nationwide changes needed quickly to cut climate gas emissions is laid bare in newly-released government documents. [...] The number ...
    No Right TurnBy Idiot/Savant
    2 days ago
  • Climate Change: Cold feet?
    Ministry for the Environment has dumped more cabinet papers related to its recent initial consultation on the emissions reduction plan. The key document is an August cabinet paper on Emissions Budgets for 2022-2025, 2026-2030 and 2031-2035, which made the dubious in-principle decision to increase the first period's emissions budget (which ...
    No Right TurnBy Idiot/Savant
    2 days ago
  • Rating The Contenders.
    There Can Be Only One: Some might ask why National MPs would install yet another “successful business person” at the helm of their party? Isn’t one Todd Muller enough? Especially when Simon Bridges could become the first National politician of Māori descent to become Prime Minister.LET’S GET SOMETHING out of ...
    2 days ago
  • Gordon Campbell on Omicron, and the Bridges/Luxon dilemma
    At this early stage, the Omicron variant seems to be more infectious, and more able to bypass the protection offered by vaccines and by the antibodies generated by previous infection. The fact that it is being spread around the globe by travellers who were all presumably fully immunised and had ...
    2 days ago
  • NZ Politics Daily: 29 November 2021
    Today’s NZPD testimonial from Dr Kevin Moore, Associate Professor in Psychology & Tourism, Lincoln University: “For me, the big advantage of NZ Politics Daily is the breadth of opinion and sources it gathers. Together. There is always a mix of news reporting, news analysis, opinion pieces and blog posts. That breadth ...
    Democracy ProjectBy bryce.edwards
    3 days ago
  • National is still very much the same Party even without Collins leading it… that’s the real issu...
    Judith Collins regarded Thatcher as “a personal hero” of hers. But like her hero though, it took the UK Conservative Party and their ideological counterparts here to get rid of both of them, from the inside. There’s a sort of bizarre symmetry to that really. Both were rather messy ...
    exhALANtBy exhalantblog
    3 days ago
  • 2021 SkS Weekly Climate Change & Global Warming News Roundup #48
    Listing of articles linked to on the Skeptical Science Facebook Page during the past week: Sun, November 21, 2021 through Sat, November 27, 2021 The following articles sparked above average interest during the week: To Breed or Not to Breed?, The Vaccine for Fake News, Ten ways to confront the climate ...
    3 days ago
  • A professor without honour in his own country
    Michael Corballis just three months before his death appeared in an interview on the Hui with Mihirangi Forbes. She made no effort to conceal her disdain for his defence of science and proceeded to lecture him on not knowing enough about mātauranga Maori to comment on it and accused him ...
    RedlineBy Admin
    3 days ago
  • Businessman – and Political Novice
    The drums are beating – see Heather Du Plessis-Allan in today’s Herald – for Christopher Luxon’s bid to become National’s new (and latest) leader. It is conceded that he is a political tyro but – such is National’s current plight – it is suggested that he is a risk worth ...
    Bryan GouldBy Bryan Gould
    3 days ago
  • No, Elizabeth Stuart Would Not Have Stopped the English Civil War (Probably)
    As you might have noticed, A Phuulish Fellow is a fairly eclectic blog. Even an organic one. I have my interests, and write about them as the fit takes me. And sometimes I stumble across an article I feel the need to comment on. Today, I ran across a ...
    4 days ago
  • Rumour Has It: A Númenórean Character List?
    Today we have another Amazon rumour on our hands. And for a change, it is not coming out of Fellowship of Fans. No, instead we have the following tweet doing the rounds, ostensibly listing (mostly) Númenórean characters and their code names. It’s an interesting leak, if true. And that’s ...
    5 days ago
  • Covid as Warriors
    The book I am currently working on – tentative title ‘In Open Seas’ – looks at the current and future New Zealand. One chapter describes the policy towards Covid using the trope of warfare. It covers an important period in our history but show how policy evolves and why, as ...
    PunditBy Brian Easton
    5 days ago
  • COVID-19: the B.1.1.529 variant – what do we know?
    There’s a lot of news about a new variant originally reported in southern Africa. Early signs have prompted calls for immediate precautionary blocks on travel from the region to restrict its spread. The WHO has called an emergency conference on this variant. Here’s a round-up of what we know so ...
    SciBlogsBy Grant Jacobs
    5 days ago
  • National Party board denies it unanimously agreed to Collins’ Faustian bargain with Satan
    Sources close to party president Peter Goodfellow say he was totally blindsided by Collins’ claims he was party to this particular satanic ritual. National Party president Peter Goodfellow is today issuing a strong denial on behalf of the party’s board, saying they did not, at any point, agree to the ...
    The CivilianBy admin
    5 days ago
  • The cost of optimism
    Yesterday the National Party imploded in a messy knife-fight that cost it its leader and probably one of the contenders. So naturally, the government has taken the opportunity to do a dump of its pandemic advice, including the Cabinet papers on its controversial decisions to repeatedly lower the Auckland alert ...
    No Right TurnBy Idiot/Savant
    5 days ago
  • Gordon Campbell on National’s less than stellar choices
    Amid all the jostling in the National caucus ranks, spare a thought for Andrew Bayly. Who? Well might you ask. Plucked from obscurity by Judith Collin, elevated from number 18 to number 3 in the caucus rankings and given the Finance portfolio – a role in which he has been ...
    5 days ago
  • Are New Zealand’s universities doing enough to define the limits of academic freedom?
    Matheson Russell, University of Auckland   The news last week that University of Auckland public health researcher Simon Thornley was retracting a co-authored paper about supposed vaccination risks during pregnancy raised deeper questions about the limits of academic freedom. Thornley’s own head of department had called for the paper to ...
    SciBlogsBy Guest Author
    5 days ago
  • NZ Politics Daily: 26 November 2021
    Today’s NZPD testimonial from Jean Drage, Political scientist specialist in local government: “With 78 local authorities and central government currently intent on reform, local government is a challenging area of research to keep on top of. Thank goodness for Bryce’s NZ’s Politics Daily. It is a gem, especially as it also ...
    Democracy ProjectBy bryce.edwards
    6 days ago
  • Josh Van Veen: Bridges is not the one
    Simon Bridges failed to bluff Judith Collins out of the leadership. A campaign to rehabilitate his image began shortly after the election and culminated in the publication of a memoir in August. There were persistent rumours of a deal with rival Christopher Luxon and MPs from the ‘liberal’ wing of ...
    Democracy ProjectBy bryce.edwards
    6 days ago
  • Smokefree cars – an important step towards protecting children from the hazards of smoking
    Richard Edwards, Jude Ball, Janet Hoek, George Thomson, Nick Wilson*  On November 28 new legislation to protect children from smoking and vaping in cars will come into force. This blog sets out the background and rationale for the new law, and discusses implementation, evaluation and the next steps to protect ...
    SciBlogsBy Public Health Expert
    6 days ago
  • Judith's Last Stand.
    Going Out With All Guns Blazing: Why didn’t Judith Collins stick with the strategy that had kept her, National’s most improbable of leaders, in power for more than a year? One might just as well ask why Rob Muldoon (that other unforgiving right-wing populist National Party leader) got drunk and ...
    6 days ago
  • Act’s Precarious Ascendancy.
    On The Lookout: It is easy to imagine how closely Seymour has been watching the National Opposition for the slightest sign of a Clark figure emerging. A respected politician, who enjoys broad support across the party and, much more importantly, who impresses the ordinary centre-right voter as having what it ...
    6 days ago
  • Skeptical Science New Research for Week #47, 2021
    104 articles by 574 contributing authors Physical science of climate change, effects Delayed impacts of Arctic sea-ice loss on Eurasian severe cold winters Jang et al. Journal of Geophysical Research: Atmospheres 10.1029/2021jd035286 Observations of climate change, effects Divergent responses of terrestrial carbon use efficiency to climate variation from 2000 ...
    6 days ago
  • Labour’s Eyes Wide Shut To “Unruly Tenants”.
    Not Seeing The Problem: They say there are none so blind as those who will not see. And, right now, Kāinga Ora is studiously not looking. It is clear to everyone that the Minister responsible, Poto Williams, has (like so many of her colleagues) been entirely captured by her officials. ...
    6 days ago
  • Is the mob coming for Charles Darwin?
    Richard Dawkins recently noted the giants of the past are being sanctimoniously judged by nonentities of the present whose only qualification is still being alive to do so. How will the future judge our own time when we are not around? Peter Franklin from Unherd examines whether the woke can ...
    RedlineBy Admin
    6 days ago
  • Blowing a Hole in Your Own Wall: Idiotic Tampering with MIQ
    Managed Isolation/Quarantine has been a fact of life for New Zealand for eighteen months. It’s not popular – there are only so many spaces available at any given time, and the process is famously opaque – but it is the key to saving New Zealand from rampant Coronavirus. That, ...
    6 days ago
  • Now Labour wants secret trials
    Today, the government introduced the Security Information in Proceedings Legislation Bill to the House. The Bill would allow the government to use classified information in civil or criminal proceedings and keep it secret from the other party. So people suing the government for human rights abuses could lose, and defendants ...
    No Right TurnBy Idiot/Savant
    6 days ago
  • The end of a toxic leader
    If there's one thing that Judith Collins is usually good at, it's using scandalous information about other people to her advantage. Not above undermining her own political party, Collins has been known to even leak against her own fellow MPs, particularly those who posed a threat to her as the ...
    6 days ago
  • A transformative government in Germany
    Back in September Germans went to the polls, and handed the politicians a tough job, with no easy majorities for anyone. The Social Democrats, Free Democrats, and Greens agreed to work together in a "traffic light" coalition, but given their political differences (its basicly ACT/Greens/Labour), expectations for real change were ...
    No Right TurnBy Idiot/Savant
    6 days ago
  • Political Harakiri
    The National party must always have known that they were taking a risk when they elected Judith Collins as leader. There were, after all, good reasons why they repeatedly declined to accept her candidature when she offered herself – as she frequently did. She was always an inappropriate person to ...
    Bryan GouldBy Bryan Gould
    6 days ago
  • Thanksgiving advice, 2021: How to deal with climate change-denying Uncle Pete
    This is a re-post from the Bulletin of the Atomic Scientists by Richard Somerville “Birds of a feather flock together,” so I am sure that nearly all of those reading this article accept the main findings of climate science. Yet many people don’t. Instead, they believe a variety of climate ...
    6 days ago
  • Gordon Campbell on the demotion of Simon Bridges
    So Simon Bridges has been bounced from the front bench and stripped of his shadow portfolio responsibilities for the crudely “inappropriate” comments that he allegedly made to a female colleague, Jacqui Dean – and personally apologised for – about five years ago. After years of mocking Labour for its supposed ...
    6 days ago
  • NZ Politics Daily: 25 November 2021
    Today’s NZPD testimonial from Dr Rosemary Wette, Associate Professor, Applied Linguistics, University of Auckland: “I’ve been browsing regularly through NZ Politics Daily for several months now. It gives me access to a range of views on current issues (helpfully organised by topic) that I wouldn’t otherwise have time to look up, or ...
    Democracy ProjectBy bryce.edwards
    6 days ago
  • The bizarre case of the Royal Society investigating academics defending science
    The Royal Society has begun a disciplinary investigation against a group of academics. The academics were defending science and in the past would have expected support from the Royal Society. The Free Speech Union has launched a campaign to defend the academics and academic freedom. Māori professor under investigation for ...
    RedlineBy Admin
    7 days ago
  • Ian Powell: Unionism and nursing in New Zealand
    In the around 35 years I worked for unions (over 30 with the Association of Salaried Medical Specialists and earlier with the New Zealand Educational Institute) I often cogitated over the distinction between unions and unionism. They are intertwined but not inseparable. I associate unionism with collective consciousness able to ...
    Democracy ProjectBy bryce.edwards
    1 week ago
  • Bryce Edwards: Today’s constitutional disgrace in Parliament
    This Government has a problem with urgency. Critics from both left and right have long complained about their lack of urgency on issues such as climate change, housing, and inequality. Likewise, in terms of the Covid response, there’s been a chorus of criticism that Labour has been complacent and sluggish ...
    Democracy ProjectBy bryce.edwards
    1 week ago
  • Vaping needs much tighter regulation as we approach Smokefree Aotearoa 2025: Two new studies
    Nick Wilson, Janet Hoek, Jennifer Summers, Driss Ait Ouakrim, Andrew Waa, Richard Edwards, Tony Blakely* Two recent studies provide new insights into the impact vaping may have on public health. The first estimates that use of modern vaping devices could be around a third as harmful to health as smoking. ...
    SciBlogsBy Public Health Expert
    1 week ago
  • Strange Defeat: A Guest Post By Dr. Chris Harris.
    They Did Things Differently Then: And we might still be doing things differently, if the world these "Country Lads" were fighting for, and which endured for nearly 30 years after World War II, had not been supplanted by the world we inhabit now. In spite of its reality, New Zealand's ...
    1 week ago
  • More than 147km – the transformative potential of the Wellington bike network plan
    Feature image by Luke Pilkinton-Ching, University of Otago Wellington   Caroline Shaw, Anja Mizdrak, Ryan Gage* Wellington City Council is currently consulting on a cycle network for Wellington. This is a big deal. WCC are proposing a 147km cycle network around the city, the vast majority of which is new. ...
    SciBlogsBy Public Health Expert
    1 week ago
  • NZ Politics Daily: 24 November 2021
    Today’s NZPD testimonial from Liz Brown, Senior communications advisor, Association of Salaried Medical Specialists: “The NZ Politics Daily is a fabulous resource providing a comprehensive one stop shop on what’s making news and how stories are being covered. I look forward to seeing it pop into my inbox every morning.” Anyone can sign ...
    Democracy ProjectBy bryce.edwards
    1 week ago
  • Climate Change: Taking us for a ride
    Agricultural emissions has been an oozing sore in our climate change policy for over a decade. Exempted from the ETS in 2008, farmers were meant to be brought in and start paying for their emissions in 2012. Of course, National put a stop to that, and exempted them forever. When ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • Climate Change: An industry in denial
    Over the past few years it has become clear that coal has no future in Aotearoa. Rising carbon prices, a ban on new boilers and a legislated phase-out for existing infrastructure are going to drive it out of the market. To reinforce this, the government signed up for an anti-coal ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • The “most open and transparent government ever” again
    The government is about to pass new vaccination mandate legislation under urgency. So obviously, they'd want to ensure it gets the best possible scrutiny in the limited time available by releasing the supporting policy documents, right? Of course not: On the eve of legislation to enable vaccination passes being ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • Gordon Campbell on farmers playing the victim, plus Chile’s right turn
    Among the farming lobby groups, the good cop/bad cop routine has been working a treat. It suits Federated Farmers to keep daylight between itself and the Groundswell movement. Month in, year out the Federation continues to engage with the government over the very same water degradation/climate change regulations that Groundswell ...
    1 week ago
  • Important People
    The Herald has returned to form with a vengeance. In today’s issue, Barry Soper snipes at Jacinda’s handling of her regular press conferences. It seems that she did not give him an early chance to ask his very important question and took no account of his need to depart immediately ...
    Bryan GouldBy Bryan Gould
    1 week ago
  • Parliament, the Courts and the end of three strikes (for now)
    Last week, Parliament embarked on the process of repealing the so-called “three strikes” provisions in the Sentencing Act 2002. Given that Labour, the Greens and Te Paati Māori all supported this repeal Bill at first reading (and that NZ First no longer is in government to block the move), three strikes’ eventual legislative demise seems ...
    PunditBy Andrew Geddis
    1 week ago
  • NZ Politics Daily: 23 November 2021
    Today’s NZPD testimonial from Martyn Bradbury, Editor, The Daily Blog “’NZ Politics Daily’ is one of the most important news and political resources run in New Zealand. The expert collation of opinion and news makes it an invaluable day to day resource as well as an incredible treasure for researchers in the future. ...
    Democracy ProjectBy bryce.edwards
    1 week ago
  • New Zealand’s Emission Reduction Plan
    By Paul Callister and Robert McLachlan Fifty years ago, on 26 November 1971, the film “Notes on a New Zealand City: Wellington”, directed by Paul Maunder, premiered on Wellington TV. The narrator asks if Wellington’s future will involve suburban sprawl, traffic, motorways, suburban shopping malls, and the decentralization of employment; ...
    SciBlogsBy Guest Author
    1 week ago
  • Dissing The Farmers.
    Neale vs The Revolting Farmers: One has to admire the way Capital Government Relations CEO, Neale Jones, covers-off all the bases of the current political zeitgeist. In a masterfully composed tweet, he lambasts the Groundswell protesters as sexists, racists and reactionaries, clinging for dear life to “a purely extractive economic ...
    1 week ago
  • How will carbon pricing impact inflation?
    This is a re-post from the Citizens' Climate Lobby blog Inflation — the decline of purchasing power as prices rise — is currently at its highest level in 30 years. This has led to concern among the public and policymakers about the rising costs of many important products like food, shelter, gasoline, ...
    1 week ago
  • (Lack of) Public Service Announcement: The National Library of New Zealand, Internet Archive, and Al...
    The National Library of New Zealand has not covered itself in glory in recent times. The decision to axe most of the Overseas Collection (some 600,000 books) in order to make way for more New Zealand items (which it collects already, and which amounts to some 3,000 items ...
    1 week ago
  • Game over for the HRPP
    Since its election loss earlier this year, Samoa's Human Rights Protection Party has been pinning its hopes on the upcoming by-elections to regain power. That was a pretty forlorn hope - with 18 seats, they would have had to win all seven by-elections and have two additional women appointed to ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • Chinese influence and American hate diffusion.
    Over the last decade concerns have been raised about Chinese “influence operations” in NZ and elsewhere. Run by CCP-controlled “United Front” organisations, influence operations are designed to promote PRC interests and pro-PRC views within the economic and political elites of the targeted country as well as Chinese diaspora communities. The ...
    KiwipoliticoBy Pablo
    1 week ago
  • Good riddance
    Its official: the Marsden Point refinery, source of more than 600,000 tons of carbon dioxide a year, will be closing down from April: Refining NZ has confirmed its decision to close the Marsden Point oil refinery, which will shut down in April. The company announced on Monday that its ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • The Real Interests Of The Country.
    Off Message: Into the extremely fraught relationship between Town and Country, the Groundswell organisers have blundered like an Aberdeen-Angus steer in an organic vege-shop. Unreasonably proud of their rural economic virtues, and dangerously forthright in their enumeration of the cities’ political vices, these Kiwi equivalents of America’s “good ole boys” ...
    1 week ago
  • NZ Politics Daily: 22 November 2021
    Today’s NZPD testimonial from Minna Reid, Law student, Victoria University of Wellington “As a Uni student, staying up to date with current affairs is always important. The Daily Politics & Democracy Project by Bryce Edwards is of great service for this. It offers varying news sources I would not have found myself ...
    Democracy ProjectBy bryce.edwards
    1 week ago
  • Free speech is a people’s frank confession to itself
    by Daphna Whitmore The government is devising new “Hate Speech” laws to save New Zealand from something that has not been defined. When asked what is hate speech the Prime Minister replied “You know it when you see it”. The Human Rights Commission is supporting the law change and sees ...
    RedlineBy Admin
    1 week ago

  • New Zealand Response to assist peace and stability in Solomon Islands
    The New Zealand government has announced that it will deploy Defence Force and Police personnel to Honiara to help restore peace and stability. “New Zealand is committed to its responsibilities and playing its part in upholding regional security,” Prime Minister Jacinda Ardern said.  “We are deeply concerned by the recent ...
    BeehiveBy beehive.govt.nz
    4 hours ago
  • Continued growth in volume of new home consents
    In the year ended October 2021, 47,715 new homes were consented, up 26 per cent from the October 2020 year. In October 2021, 4,043 new dwellings were consented Canterbury’s new homes consented numbers rose 31% to higher than post-earthquake peak. New home consents continue to reach remarkable levels of growth, ...
    BeehiveBy beehive.govt.nz
    7 hours ago
  • Saddle up for summer with cycle trail funding
    New investment will keep the best of New Zealand’s cycle trails in top condition as regions prepare to welcome back Kiwi visitors over summer and international tourists from next year. “Cycle tourism is one of the most popular ways to see the country ‘off the beaten track’ but the trails ...
    BeehiveBy beehive.govt.nz
    8 hours ago
  • New Zealand provides additional funding to COVAX for vaccine delivery
    Foreign Affairs Minister Nanaia Mahuta today announced additional funding will be provided to COVAX to support vaccine delivery in developing countries. “New Zealand remains cognisant of the dangers of COVID-19, especially as new variants continue to emerge. No one is safe from this virus until we all are and this ...
    BeehiveBy beehive.govt.nz
    9 hours ago
  • COVID-19 Community fund providing support for 160 organisations focused on women and girls
    Minister for Women Jan Tinetti today announced financial support will be allocated to the 160 successful applicants for the COVID-19 Community Fund, to support organisations helping women/wāhine and girls/kōtiro in Aotearoa New Zealand affected by the pandemic. “COVID-19 has had a disproportionate effect on women around the world including in ...
    BeehiveBy beehive.govt.nz
    10 hours ago
  • Government delivers reactivation package as Aucklanders reconnect for summer
    A new support package will help revive economic, social and cultural activities in our largest city over summer, and ensure those in hardship also get relief. The Social Development and Employment Minister Carmel Sepuloni and the Economic and Regional Development Minister Stuart Nash have announced a Reactivating Tāmaki Makaurau Auckland ...
    BeehiveBy beehive.govt.nz
    11 hours ago
  • Mobile services and broadband come to Chatham Islands for first time
    World class mobile and broadband services have been switched on for the 663 residents of the Chatham Islands, Minister for the Digital Economy and Communications, David Clark and Minister for Economic and Regional Development, Stuart Nash announced today. “This eagerly awaited network will provide fast broadband and mobile services to ...
    BeehiveBy beehive.govt.nz
    11 hours ago
  • Crown accounts reflect strong economy amid pandemic
    The Government’s financial accounts continue to reflect an economy that has performed better than expected, despite the latest Delta COVID-19 outbreak. The Crown accounts for the four months to the end of October factors in the improved starting position for the new financial year. Core Crown tax revenue was $2.5 ...
    BeehiveBy beehive.govt.nz
    12 hours ago
  • Applications open for new 2021 Resident Visa
    The first round of applications for New Zealand’s new 2021 Resident visa open today (6am). “This one-off pathway provides certainty for a great many migrant families who have faced disruption because of COVID-19 and it will help retain the skills New Zealand businesses need to support the economic recovery,” Minister ...
    BeehiveBy beehive.govt.nz
    17 hours ago
  • More Vietnam Veterans to receive compensation for Agent Orange Exposure
    Minister for Veterans, the Hon Meka Whaitiri announced today that two new conditions associated with Agent Orange exposure have been added to the Prescribed Conditions List. Under the 2006 Memorandum of Understanding signed between the Crown and representatives of Vietnam veterans and the Royal New Zealand RSA. Vietnam veterans in ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Government commits to international effort to ban and regulate killer robots
    Minister of Disarmament and Arms Control Phil Twyford announced today that New Zealand will push for new international law to ban and regulate autonomous weapons systems (AWS), which once activated can select and engage targets without further human intervention. “While the evidence suggests fully autonomous weapons systems are not yet ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • New freedom camping rules – right vehicle, right place
    Tougher freedom camping laws will be introduced to prevent abuse which has placed an unfair burden on small communities and damaged our reputation as a high quality visitor destination. Tourism Minister Stuart Nash has confirmed that new legislation will be introduced to Parliament following an extensive round of public consultation ...
    BeehiveBy beehive.govt.nz
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    ...
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