web analytics

A shoddy, shoddy budget

Written By: - Date published: 8:12 am, May 20th, 2011 - 60 comments
Categories: Economy - Tags:

If we’re talking outcomes then I disagree with Phil Goff – this isn’t the worst budget I’ve ever seen. That prize would have to go to Ruth’s mother of all budgets, or perhaps one of the variety of black budgets we saw under the fourth Labour government. Which is not to say the cuts in this budget are good – just that I’ve seen worse in my time.

There is no doubt however that this is the most poorly constructed budget I have ever seen. It’s amateur hour in so many ways I’m struggling to see how Bill could deliver it without hanging his head in shame. If he was a beneficiary submitting such a poorly thought-out budget to WINZ he’d probably see his benefit stopped.

I have never, for instance, seen a budget in which cash raised from yet-to-be-sold assets was put on the books as if it already existed. They’ve basically bet our health system on being able to flog our assets for an imaginary price.

Nor have I ever seen a New Zealand government make a billion dollars worth of cuts without being able to say what they are cutting. I don’t believe they actually know where these cuts will come from or how sustainable they will be. In fact I don’t think they care. I’d love to see the advice they had on this policy and how much they ignored.

And then there’s this treasury forecast they’ve settled on. The one that predicts billions of dollars of tax more than IRD forecast. If they’ve got that one wrong (and I think it’s very likely they have) then we’re really f**ked.

Such a fast and loose approach might be a little more palatable if it was being done in the name of a real vision for New Zealand’s economy but for all their talk of “ambition” the nats have provided no big ideas at all. It’s like they used up all of their creativity on dodgy accounting and left none for thinking about where they want New Zealand to be in five years time.

This lack of imagination is most obvious in that there’s no interest whatsoever in increasing New Zealand’s earnings. Instead it’s like they’ve decided we’ll pay off the mortgage and get rich by taking the house to pieces and selling the timber.

Of course they don’t really believe this – they know it’s a small elite that will actually gain from this plan. Indeed that’s the point. They just want you to believe otherwise.

60 comments on “A shoddy, shoddy budget ”

  1. Peter 1

    Brilliant analysis, you should write Geoff’s speeches. This is what you get when we are lead by a guy who does not need the job.

  2. I agree Irish that the budget is a shocker and down the line is going to create a number of problems.  It is also based on a series of assumptions which like the supposed economic stimulus that they predicted would occur after the tax cuts for the wealthy will not eventuate.  The country will then have a big financial hole to cover.

    The spin has been pretty good.  They talked up the cuts and made it sound like it would be worse than what it was.  Deferring the cuts until after the election was also clever.

    And banking $1b in savings that have not been identified 

    Instead of there being the instant amputation of a limb, there will be the gradual cut, cut, cut of support, services and public service wages and conditions.

    They are hoping that the swinging voter will not realise what is happening, at least until after the election.

    • Oops where did that text go?

      Meant to say

      And banking $1b in savings that have not been identified is the budgetary equivalent of pulling figures out of your arse.

      • Jim Nald 2.1.1

        Oh I get it now after watching that clip (below @ 8:59am) –

        John Key’s unidentified fiscal object is arsterity.

    • Lanthanide 2.2

      My boyfriend pointed out that if they really want to, the government department CEOs could potentially sink the election. A month or two out from the election, sack thousands of nurses and make other big cuts to government departments, and say the budget forces them to.

  3. vto 3

    I really can’t believe how garbled Key’s speech is and how difficult he is to actually understand.

    But he was good at throwing the dogs off the scent. On close up last night he just splurged out stat after stat as a fast curve ball for the couple sitting there.

    Classic politician stuff. You know, slippery and deceptive and selective.

    Zero budget alright. From a zero man.

  4. hellonearthis 4

    Those “billion dollars worth of unnamed cuts” must be so bad that they don’t want to tell the people as it was weaken Nationals chance of reelection. I bet the cuts come from the poorest.
    National Hobbit-in budget imagines new jobs and higher wagers for an enchanted future.

    Anyone worked out the negatives of inflation on the spending in this zero budget.

  5. wtl 5

    Well said. A question who think this budget is ‘reasonable’ given the points made in this post. What would you say if a business was being run like this, promising lots of cuts with not detail on how this is to be achieved, banking future sales of assets without even saying exactly what is to be sold, and relying on extremely optimistic forecasts of growth?

    • vto 5.1

      Exactly. Ask Key how he would manage to sell such a budget to investors. They would laugh him out of the room.

      • Tigger 5.1.1

        I’m going to use this logic with the bank when I ask them for a mortgage based on the fact that next year I will win Lotto.

        • PeteG 5.1.1.1

          You might have more chance if you actually use logic and base your application on you having other assets you intend selling in order to help finance your new purchase.

          • Lanthanide 5.1.1.1.1

            The sale price is between $5b and 7b. That’s a 40% margin of error on the low figure. The tax take is $4b greater than predicted by IRD.
             
            Sounds like wishful thinking/lotto winning to me.

            • Deadly_NZ 5.1.1.1.1.1

              maybe thats it Shonkey and Blinglish send Dr L Smith off to the Lotto shop with $20.00 clutched in his hot little hand.

              • Colonial Viper

                Winning Lotto is no good, it’s still basically funded by low and middle income earners.

    • hellonearthis 5.2

      Rowan Simpson described it like this:
      “Treasury estimates look a lot like your typical pre-launch start-up”
      http://twitter.com/#!/rowansimpson/status/71059392316977153

    • RobC 5.3

      The future sales of assets is easy to answer:

      Current valuations of what’s up for partial sale:

      Mighty River $3.7 bill
      Meridian $6.3 bill
      Solid Energy $1.7 bill
      Genesis $1.6 bill

      $13.3 bill there and add in a bit of Air NZ (mkt capitalisation $1.6 bill) say $14 bill

      Selling 50% = $7 bill, that’s where that comes from; they say $5-7 bill as depending on how they structure the sale it’s unlikely to be at an optimal price.

      Trouble is domestic investor demand could only handle $2 bill a year so it would take a few years at least to flog it all off.

      • Daveo 5.3.1

        I read somewhere that Solid Energy had inflated its value by 100%. I think we should take those valuations with a grain of salt.

        • RobC 5.3.1.1

          Heh. The Crown Ownership Monitoring Unit is a division of …. wait for it …..

          The Treasury 😀 😀

      • wtl 5.3.2

        Another point regarding this is that as far as National is concerned the sale of $7 bn worth of public assets is already a done deal. Let’s make sure the NZ public know this.

      • Alwyn 5.3.3

        Your last paragraph that the public could only handle $2b/yr intrigues me.
        Can you tell me where it comes from?
        There is obviously some limit but I have never seen any reasonable evaluation of what it might be.

        • RobC 5.3.3.1

          From the Treasury advice on mixed ownership … go to the COMU website … but in brief it is based on “initial market soundings”

          I s’pose the bit in there that should be pulled out and shouted from the rooftops is this little gem:

          “Widespread and substantial NZ ownership is achievable, but significant participation by foreign investors will be essential to achieve the Govt’s overall objectives”

          • Draco T Bastard 5.3.3.1.1

            Lovely that Treasury seems to have missed the fact the we already have widespread and substantial NZ ownership.

      • Deadly_NZ 5.3.4

        And a quick sale for 5 billion to a mate, and then we are in the shit.

    • Treetop 5.4

      My summary of the budget is it was a propaganda budget for the reasons you state about forecasts including asset sales.

  6. PeteG 6

    Also vague, but a possible move in an improved direction:

    “The Government is reviewing the tax treatment of employee benefits paid in lieu of salary. Any changes are expected to result in an increase in tax revenues”

    “A Government discussion document will be released on the apportionment rules applying to tax deductions for high-value assets that are also partly used for private purposes. Any changes to those rules could have a positive impact on tax revenue”

    Revenue Minister Peter Dunne indicated a widening of the net, saying the definition of income might be changed, particularly when it came to tax credits which could be claimed under the Working for Families scheme.

    Dunne cited rich people’s leisure assets as being of the greatest interest.

    “There have been instances where high-value assets such as yachts and holiday homes, which are both rented out and used privately, have provided owners with inflated tax deductions, which either result in less taxable rental income or tax losses that can be used to offset other income.

    “Everyone would like to own a holiday home but it should not be subsidised by the taxpayer. We want to make sure the rules are fairer and do not distort investment decisions,” Dunne said.

    Maybe. I wonder if it will depend on whether Dunne gets back in or not.

    • ianmac 6.1

      Pete:”“The Government is reviewing the tax treatment of employee benefits paid in lieu of salary. Any changes are expected to result in an increase in tax revenues”
      Is that a personal tax increase then Pete?

      • PeteG 6.1.1

        You can call it that if you like, but it’s a reduction in tax loopholes and avoidance.

    • Lanthanide 6.2

      Labour will probably look at this area as well.
       
      The problem is, how do you police and enforce it? Such a tax seems like it could only ever go after the top 10-15% of offenders, and everyone else will slip through the woodwork.
       
      Probably better just to go with a land or asset tax instead, much easier to implement, will bring in more money and much harder to dodge.

  7. millsy 7

    The WFF cuts will erode the living standards for a lot of families out there, (and will most likely pull a lot of money out the the school system, in the form of lesser parental contributions). History will probably look back on this as the middle’s 1991 moment.

    If anyone thinks that stripping 1 billion dollars out of the public sector can be done without affecting public services, then I really want to have some of what they are on.

    Services WILL be cut. You can count on it. And it will even affect the rednecks that call for smaller government, as they wait on hold for hours to IRD to sort out a stuff up with taxes that threatens to send their business to the wall.

    I have always thought that National and its supporters only want to tear things down because they dont make a profit, well, this budget doesnt tear them down as much as taking it down piece by piece.

    Welfare reform is conspicuous by its absence. Saving for 2012 methinks?

  8. weka 8

    “Welfare reform is conspicuous by its absence. Saving for 2012 methinks?”

    I’ve been wondering that too.

  9. ianmac 9

    Ya just havta be in the right team. He giveth and he taketh:
    “Finance Minister Bill English confirmed the Crown would reimburse income tax incurred by Rugby New Zealand 2011….. and also by the New Zealand Rugby Union where it was involved.

    Separately, the Crown has agreed to reimburse the union for withholding tax incurred on payments made in relation to the tournament.

    Inland Revenue has clarified that anyone representing overseas unions or official overseas rugby organisations also won’t have to pay tax………
    Visitors not part of official overseas rugby bodies may also be spared the taxman’s pinch……..”
    http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10726772

    “Interest.co.nz managing editor Bernard Hickey slammed the Government for giving tax exemptions to rugby organisations when it had just announced it was halving its KiwiSaver member tax credit.”

    • vto 9.1

      yachts.

      rugby.

      movies.

      why so selective?
      are us dots doing normal boring stuff somehow lesser beings?
      are some people more equal than others?

      • ianmac 9.1.1

        If the RWC runs at a loss, which I believe has been flagged, will this give Bill a boost to his economy? And will tax breaks for those involved be +or – to the outcome?

  10. prism 10

    Selling assets is like extinction of a species in that they will never be seen in the same form again. There may be mutations or some look-alikes but they take a long time to develop, and still may die away as they can be ‘wasted’ in a short time.

    Phil O’Reilly, Chief Executive of BusinessNZ, New Zealand’s largest business advocacy group, representing thousands of businesses of all sizes. …Thanks google
    said something about the budget being sophisticated. He no doubt considers his use of the term indicates that he is a sophisticate. I looked up my Collins – choose a meaning to describe him and his ilk: 1.to make (someone) less natural or innocent, as by education. 2.to pervert or corrupt (an argument, etc) by sophistry. 3.to make more complex or refined.

    And sophistry is 1.a. a method of argument that is seemingly plausible though actually invalid and misleading. b.the art of using such arguments. A good description of the work and utterings of our current crop of business leaders and pollies.

  11. I think its a good budget if you want to continue to transfer ownership and income into the pockets of the already rich bludgers living off the backs of workers. Good also because its got most of those workers claiming that the NACTs should be fair. Why should they? They are the party of the bludgers (all bosses, bankers) so its a bludgers budget. First task is to wake up to the nature of capitalism. Its not win win game. Its a zero sum and while they do the sums we get the zeros.

    • Draco T Bastard 11.1

      The economy is always a Zero Sum game. Can’t change that but you can change the distribution which is what Nact have been doing and continue to do – they’re changing the distribution in favour of the rich at the expense of everybody else.

  12. RobC 12

    Ha! Here’s a classic:

    “This is a great Budget. It will get our economy going. This Budget will create 170,000 jobs—170,000 jobs. It is tackling the long-term issues that our economy and our country face.”

    John Key, Budget Speech 2010. Yes, 2010.

    • Pascal's bookie 12.1

      Good catch!

    • Excellent RobC.
       
      And Blinglish said this in his 2010 Budget speech:
       

      These policies underpin the updated Treasury forecasts showing steady growth of around 3 per cent over each of the next four years.
      The forecasts also show that this growth will raise real incomes of the average household by about $7,000 over the next four years, and create 170,000 jobs.

       
      They pulled the same figure out of their arse two years running!!

      • McFlock 12.2.1

        sooner or later it has to be true!

        Well, not under national, admittedly…

  13. I was annoyed by Bill English saying they were borrowing to fund Kiwisaver.

    No…They are borrowing to fund their tax cuts.

    KiwiSaver isn’t on the “nice to have” list….but tax cuts should be…if the govt had any sense. They clearly do not.

    It’s that simple for me.

    The rest is just “sophistication”.

  14. PeteG 14

    One positive outcome of the budget:

    Budget keeps credit ratings secure

    The Government’s top credit ratings were safe after the Budget, with agencies Standard & Poor’s and Moody’s saying it had done enough to keep debt under control.

    Lowered interest rates have helped most people with mortgages (and are omitted from most of the “we’re worse off now” stories). Keeping our credit ratings will help keep interest on government borrowings down, and that will help all who borrow.

    • Pascal's bookie 14.1

      Both agencies kept the country on notice of a downgrade.

      So if the treas. projections don’t came to pass?

      • Roger 14.1.1

        Yes, remembering of course that due to various government reactions to the financial crisis, private debt is taken into account when measuring sovereign debt because it is implied that if a private bank or large finance company goes under the government will bail them out. Therefore private debt ends up being a public liability.

        Now, three questions John Key really needs to be asked.

        How serious is he about keeping our credit rating if he is gutting Kiwisaver and thereby discouraging private saving?

        And bearing that in mind: Why is he really selling part the government’s commercial assets since this sale does not improve or encourage private saving (which helps to reduce the risk of a credit downgrade)?

        If after the sales of these assets, income projections were wrong and the government is still running a deficit, what will they do then, sell the remaining 51%

        • KJT 14.1.1.1

          Of course. That is what they intend longer term anyway.

          They are also making sure the deficit is so huge that there will be no alternative.

          Do we still have the death penalty for traitors?

    • Kevin Welsh 14.2

      This wouldn’t be the same Standard & Poors and Moodys who gave Lehman Brothers an A Credit Rating just days before their meltdown, would it PeteG?

    • Draco T Bastard 14.3

      The government can actually print money – it doesn’t need to borrow and so it’s “credit rating” is pure BS.

      • KJT 14.3.1

        Exactly. AND it is only inflationary if the economy does not have the capacity to absorb it.
        Hard to argue the economy has no spare capacity with the present numbers of unemployed.

        Though it would serve the offshore banks, that have been creaming it by borrowing at near zero interest overseas to lend to us, right, if their profits were inflated away.

  15. Kevin Welsh 15

    “I have never, for instance, seen a budget in which cash raised from yet-to-be-sold assets was put on the books as if it already existed.”

    I suggest you watch “The Smartest Guys In The Room” Irish. This is exactly what Enron did to give their balance sheet the illusion of being in profit.

    “Nor have I ever seen a New Zealand government make a billion dollars worth of cuts without being able to say what they are cutting. I don’t believe they actually know where these cuts will come from or how sustainable they will be. In fact I don’t think they care. I’d love to see the advice they had on this policy and how much they ignored.”

    Just a continuation of the Reaganomics Strategic Deficit they are creating. If you are going to go, go big time.

  16. Irascible 16

    This is budget developed on the floor of a money exchange… driven by the rumour, the speculation and the promise of a return (tomorrow) without substance or rationality…. merely the promise of a quick return to the gambling speculator.
    The long term effects of such speculation are never taken into account by the speculator as he is looking to his immediate hip pocket return.
    This budget is another lost opportunity under yet another National government.

  17. Deadly_NZ 17

    And I see that Labour would not sell assets BUT they have not committed to rolling back all this bullshit. So unless there is a concrete promise to reverse these increases, then one may have to assume that Shonkey is right and the only difference between the 2 parties is the leaders and on that front Labour loses. Maybe it is time for the Greens. They should get a lot more of the labour votes, because voting labour is to vote for the changes to Kiwi Saver and WFF.
    http://www.stuff.co.nz/business/budget-2011/5032522/Budget-plots-remarkable-turnaround-Key

    • Neoleftie 17.1

      Labour bought back Kiwi Rail and other Assets over the years. The history is there in bold and in the streets…Labour is opposed to assets sales and will buy back, where and when able, sold assets but i for one will be in ther streets again and again if and when assets start to get sold off.

  18. Herodotus 18

    Just had a Rd to Damascus moment !!
    I know where these 170k new jobs are !!!!
    All those who have given up and are to emmigrate to Aussie 😉
    Still amazed atthe positiveness being expresed by the bank economists by their sumaries of the budget.
    The only bright light currently are relative low interest rates (I know it is killing the oldies with a few $$) Once the rates start to increase think then what the damage to mums and dads budgets will be.
    Also on an aside I hope the govt when they sell shares will allow all of us interest free loans to purchase. Sure there will no no cash to the govt but the books will appear stronger.

  19. KJT 19

    Of course all these Mum and Pop investors will have the capital sitting in the banks waiting to buy shares in the selloff of SOE’s.

    The only way New Zealanders will have money to buy shares will be to borrow. Probably on the house mortgage.

    • KJT 19.1

      I suppose the motivation for the huge deficit is also so that Labour cannot do much, if they do get re-elected.
      NACT will have a chance to have another go at asset stripping in 4 years time.

Links to post

Recent Comments

Recent Posts

  • Funding to translate science into real life solutions
    The Government is investing in ‘Te Tītoki Mataora’ the MedTech Research Translator, to deliver new medical tools - and meet both the demands of a global pandemic and of a growing and aging population. “COVID-19 has shown that we need to build a more resilient, productive, innovative and economically-sustainable health ...
    BeehiveBy beehive.govt.nz
    9 hours ago
  • Tokelau champions language and culture
    COVID-19 continues to be a powerful reminder of the importance of language and culture to the wellbeing of our Pacific communities, said the Minister for Pacific Peoples, Aupito William Sio. “Our Tokelau community in Aotearoa has responded strongly to the challenges of the global pandemic by getting vaccinated and supporting ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Festival drug-checking services get a boost
    The Government is financially supporting drug-checking services to help keep young people safe at this summer’s large festivals and events, Health Minister Andrew Little says. “This is not about condoning drug use, but about keeping people safe,” Andrew Little said. “There is clear evidence that having drug-checking services at festivals ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Expanded vaccination order for health and disability, education and prison workers
    A newly-signed Order means most people working in three key sectors will very soon need to be vaccinated against COVID-19 for the sake of themselves, their workmates and their communities, COVID-19 Response Minister Chris Hipkins has confirmed. The extended COVID-19 Public Health Response (Vaccinations) Amendment Order 2021 comes into effect ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • APEC finance ministers focus on inclusive, sustainable COVID recovery
    APEC finance ministers will continue to work together to respond to the effects of COVID-19 and ensure a sustainable and inclusive recovery while capitalising on the opportunity to build a more resilient future. The New Zealand Minister of Finance and Deputy Prime Minister Grant Robertson chaired the virtual APEC Finance ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Improvements to child and maternity facilities at Timaru Hospital on track
    Improvements to child and maternity facilities at Timaru Hospital are well underway, and the next stage of the project will begin next month. Health Minister Andrew Little visited Timaru Hospital today to view progress onsite. “The improvements are part of South Canterbury DHB’s four-year refurbishment project and will create a ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Govt responds to independent review into WorkSafe
    The Government has clear expectations that WorkSafe must action the recommendations of the independent review into the regulator to improve its management of adventure activities following the tragedy at Whakaari White Island, Workplace Relations and Safety Minister Michael Wood says. The Ministry of Business Innovation and Employment (MBIE) today released the ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Prevention funding to reduce tamariki in care
    A new iwi-led prevention programme will receive funding from Oranga Tamariki to help reduce the number of tamariki and rangatahi coming into state care, Children’s Minister Kelvin Davis has announced. Te Rūnanga o Ngāi Tahu (Te Rūnanga) will receive $25.9m of Oranga Tamariki funding over three years to improve outcomes ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Transforming New Zealand’s mental health legislation
    Public consultation is now open for Aotearoa New Zealand to have a say on the repeal and replacement of the Mental Health (Compulsory Assessment and Treatment) Act 1992. “’He Ara Oranga, the report of the Government Inquiry into Mental Health and Addiction’ made it clear that we needed to replace ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • COVID-19 Protection Framework
    Kia ora koutou katoa Today I’m speaking directly to all New Zealanders to share a plan that will help us stay safe from COVID-19 into the future. A future where we want to continue to protect people’s lives, but also to live our lives – as safely as possible. Our ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Business boost to transition to new COVID framework
    We know that over the last twenty months the approach New Zealand has taken to COVID and Delta has saved lives and livelihoods. Along with one of the lowest mortality rates in the world, we have also had strong economic growth, low unemployment and one of the lower levels of ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • COVID-19 funding boost to protect maōri communities
    Tēnā koutou katoa As you have heard from the Prime Minister, the new protection framework will support us to keep people safe especially our vulnerable communities and minimize the impact COVID-19 has on business and our day to day lives. If you want to protect yourself, your whanau and your ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • New COVID-19 Protection Framework delivers greater freedoms for vaccinated New Zealanders
    New COVID-19 Protection Framework provides pathway out of lockdown and ability for businesses and events to re-open to vaccinated New Zealanders Simpler framework to minimise cases and hospitalisations without use of widespread lockdowns Auckland to move into the new framework when 90 percent of eligible population in each of the ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • New fund to accelerate Māori vaccinations
    The Government has established a $120 million fund to accelerate Māori vaccination rates and support communities to prepare for the implementation of the new COVID-19 Protection Framework. The new Māori Communities COVID-19 Fund will directly fund Māori, Iwi, community organisations and providers to deliver local vaccination initiatives for whānau, and ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Government extends hardship assistance for low income workers
    Income limits for Hardship Support through the Ministry of Social Development have been temporarily lifted so more people can recieve assistance. “Cabinet has agreed to make it easier for low income workers to recieve assistance for items such as food and other emergency costs,” Carmel Sepuloni said. “We know the ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • More support for learners with highest needs
    Students most in need of extra help in the classroom are the focus of a new review that gets under way today, Associate Education Minister Jan Tinetti says. About 50,000-80,000 children and young people are expected to benefit from a Ministry of Education review into Highest Need Learners that will ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Parts of Waikato to stay at Alert Level 3 for next six days
    The parts of Waikato that have been in Alert Level 3 will remain at that alert level till Wednesday, COVID-19 Response Minister Chris Hipkins said today. “Based on the latest public health information, maintaining level 3 in those parts of the Waikato continues to be the most prudent course of ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Hon Peeni Henare September 2021 Proactive Diary Release
    ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • NZ passes world-first climate reporting legislation
    New Zealand has become the first country in the world to pass a law that will ensure financial organisations disclose and ultimately act on climate-related risks and opportunities, Commerce and Consumer Affairs Minister Dr David Clark and Climate Change Minister James Shaw today announced today. The Financial Sector (Climate-related Disclosures ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Prime Minister NZ UK FTA opening remarks
    Tēnā koutou katoa. Ngā mihi nui ki a koutou katoa. I am delighted to announce today that following a conversation with Prime Minister Johnson last night, New Zealand and the United Kingdom have Agreed in Principle a historic high-quality, comprehensive and inclusive free trade agreement. I’m joined today by the Minister ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • New Zealand secures historic free trade deal with the United Kingdom
    A boost of almost $1 billion to New Zealand GDP, unprecedented access for New Zealand exporters to the UK market UK to eliminate all tariffs on New Zealand exports, with over 97% being removed the day the FTA comes into force NZ exporters to save approx. $37.8 million per year ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Quarterly benefit numbers show more people in work
    Benefit figures released today show a year on year fall of 9,807 people receiving a Main Benefit in the September Quarter.  “The Government is working hard to tackle COVID-19 and it is clear our strong response to the initial outbreak has created a resilient labour market which is providing opportunities ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Health reforms bill introduced to Parliament
    Legislation central to fixing the health system has been introduced into Parliament by Health Minister Andrew Little. “Rebuilding the public health system is critical to laying the foundations for a better future for all New Zealanders,” Andrew Little said. “We need a system that works for everybody, no matter who ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • NCEA and NZ Scholarship Exams to proceed
    NCEA and New Zealand Scholarship exams will proceed, including in areas where Alert Level 3 has been in place, Education Minister Chris Hipkins said today. “The New Zealand Qualifications Authority, Ministry of Education and Ministry of Health have been working together to ensure exams can be managed in a safe ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Limited change to onsite learning – for senior secondary students – in Level 3 regions
    Onsite learning at schools in Level 3 regions will start from next week for senior secondary school students to prepare for end of year exams, Education Minister Chris Hipkins said today. “Secondary schools in these regions will start onsite learning for years 11 to 13 on Tuesday 26 October,” Chris ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Guaranteed MIQ spots for health workers
    The Government is changing the way managed isolation is co-ordinated for health workers, guaranteeing 300 spots a month for the health and disability sector. “Our world-class workforce is vital in rebuilding the health system and dealing with the COVID-19 pandemic,” Andrew Little said. “Whether it’s bringing doctors or nurses in ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Govt helps to protect New Zealanders digital identities
    Making it easier for New Zealanders to safely prove who they are digitally and control who has access to that information is one step closer to becoming law, Minister for Digital Economy and Communications, Dr David Clark said. The Digital Identity Services Trust Framework Bill passed its first reading today ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Red tape cut to boost housing supply
    New building intensification rules will mean up to three homes of up to three storeys can be built on most sites without the need for a resource consent New rules will result in at least 48,200 and as many as 105,500 new homes built in next 5-8 years Bringing forward ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Nationwide business partnership grows conservation jobs
    Further Government support for New Zealand’s longest-standing sustainable business organisation will open up opportunities for dozens of workers impacted by COVID-19 to jump start a nature-based career, Conservation Minister Kiri Allan says. Partnering to Plant Aotearoa, led by the Sustainable Business Network (SBN), is a collaboration with iwi, hapū and ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • New Zealand increases climate aid contribution
    Government commits $1.3 billion over four years to support countries most vulnerable to the effects of climate change At least 50 percent of funding will go to the Pacific as it adapts to the impacts of climate change The increase means New Zealand now meets its fair share of global ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Super Māori turnout for Super Saturday
    Māori have put a superb effort into mobilising to get vaccinated over Super Saturday, with thousands rolling up their sleeves to protect themselves, their whānau and communities from COVID-19, Associate Health Minister Peeni Henare says. “It was absolutely outstanding that 21,702 Māori got vaccinated on this one day alone with 10,825 ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Language assists Tagata Niue to thrive
    Despite the uncertain times we face with the challenges of COVID-19, our cultural knowledge, values and language remain constant, helping us progress towards goals in life, said  the Minister for Pacific Peoples Aupito William Sio. This year, the Niuean community in New Zealand decided on the theme, “Kia tupuolaola e ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • New Zealand Ambassador to France announced
    Foreign Affairs Minister Nanaia Mahuta today announced the appointment of Caroline Bilkey as New Zealand’s next Ambassador to France and the OECD. “Aotearoa New Zealand and France have a shared history, and enjoy a strong, collaborative partnership. This includes a strong trade and economic relationship, a shared commitment to support ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Govt welcomes nurses’ pay settlement
    The Government is welcoming news that a new employment agreement for nurses working in public hospitals has been settled. “I am very pleased that the hard work of the Nurses Organisation and District Health Boards has led to a settlement that both can support,” Health Minister Andrew Little said today. ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Judge of the High Court appointed
    Māori Land Court Judge Layne Harvey has been appointed a Judge of the High Court, Attorney‑General David Parker announced today. Justice Harvey graduated with an LLB from the University of Auckland in 1992 and commenced employment as a law clerk with Simpson Grierson in Auckland that same year. In 1997 ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Kiwis to have their say on plan to reduce waste
    New Zealanders are invited to have their say on proposals for a new waste strategy and options for new waste legislation. “Reducing waste is one of the issues all New Zealanders – especially younger Kiwis - care deeply about,” Environment Minister David Parker said today “New Zealand is one of ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Next steps in action plan for indigenous rights kicks off
    Minister for Māori Development Willie Jackson has today meet with more than 30 national Māori organisations in an online hui, kicking off the process to develop a plan for New Zealand to implement the United Nations Declaration on the Rights of Indigenous Peoples (the Declaration). The previous National Government signed ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Iwi-led housing solutions build homes for the future
    Whai Kāinga, Whai Oranga will open on 20 October, to receive applications for investment through Te Tūāpapa Kura Kāinga – Ministry of Housing and Urban Development and Te Puni Kōkiri The $730m fund combines investment from Budget 2021 ($380m) and the Māori Infrastructure Fund ($350m) - the largest investment seen ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • E whakarite ana Te Kāwanatanga i ngā tūāpapa mō twhakamaumahara ki Te Petihana Reo Māori ka t...
    I te rā nei, i pānuihia e te Minita mō Manatū Taonga, ko Carmel Sepuloni, rāua ko te Minita Whanaketanga Māori, ko Willie Jackson, ā tērā tau, ka whakanuia rawatia te 50 o ngā tau mai i te whakatakotoranga o te petihana mō te Reo Māori me te huanga mai ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • E whakarite ana Te Kāwanatanga i ngā tūāpapa mō tewhakamaumahara ki Te Petihana Reo Māori ka t...
    I te rā nei, i pānuihia e te Minita mō Manatū Taonga, ko Carmel Sepuloni, rāua ko te Minita Whanaketanga Māori, ko Willie Jackson, ā tērā tau, ka whakanuia rawatia te 50 o ngā tau mai i te whakatakotoranga o te petihana mō te Reo Māori me te huanga mai ...
    BeehiveBy beehive.govt.nz
    2 weeks ago