web analytics

Another nail in the neo-liberal coffin

Written By: - Date published: 10:10 am, May 9th, 2009 - 32 comments
Categories: economy - Tags:

statue-of-liberty-hammer-and-sickle-holding-communist-symbol-yellow-deep-blue-sky-photo1Neoliberal economic policy has taken a bit of a beating lately. Unregulated financial markets have exploded spectacularly and the wreckage is dragging the real economy down with it. The whole edifice is being propped up with trillions of dollars worth of taxpayer bailouts – as ever big business likes to privatise the profits and socialise the losses. As Newsweek declared – “we’re all socialists now”.

New Zealand in the late 80’s and 90’s was at the forefront of the great neoliberal economic experiment. This resulted in great social disruption, considerable hardship, and sluggish economic progress. Our neighbours in Australia, who adopted a much more cautious approach to reform, grew more quickly (pdf link) than us over the same period, and did so with much less upheaval.

England was another bastion of right wing economic policy under the Thatcher government (1979 – 1990) and those that followed. It is now thirty years since Thatcher took power, and the anniversary has prompted, in England, an evaluation of her legacy. Turns out that right wing economic policy has done England no favours either:

In the wake of the implosion of the financial free-for-all and corporate engorgement she unleashed, the Thatcherite diehards are struggling to rescue her name from a legacy of greed, entrenched inequality and economic failure. … If only young people knew, insist the irreconcilables, what a basket-case Britain was in the 1970s an “offshore banana republic”, a land of perpetual power cuts, strikes and unburied bodies they would understand why millions had to lose their jobs, industries and communities had to be destroyed and billions had to be handed over to the wealthy. …

You’d never guess from all this fevered snobbery and retrospective catastrophism that average economic growth in Britain in the dismal 1970s, at 2.4% a year, was almost exactly the same as in the sunny Thatcherite 1980s though a good deal more fairly distributed and significantly higher than in the free-market boom years of the last two decades. Nor would you imagine that there was far greater equality and social mobility than after Thatcher got to work. Or that, while industrial conflict was often sharp in the 1970s, there was nothing to match the violence of the riots and industrial confrontations of Thatcher’s Britain.

How much more evidence do we need that neoliberal right wing deregulated economies are bad for people and bad for growth? As we here in NZ await the delivery of what is being signalled as a pretty grim budget, the question naturally arises, is the National government going to repeat yet again the obvious mistakes of the past?

32 comments on “Another nail in the neo-liberal coffin ”

  1. lprent 1

    Both NZ and the UK needed to address the internal rigidities of the system in the 60’s. They left things too late to do it easily. The problem was in both cases that the zeal of the advocates who did it was grossly excessive. They cut into the muscle rather than fat. It also left scarring in the shape of people thrown excessively into permanent unemployment for decades, and causing generational effects.

    The answer to your question is probably. Some people never learn that societies are interdependent and individuals are not fully independent.

    BTW: Great picture

  2. logie97 2

    I suspect that the single most significant action of either the Thatcher/Howe or Lange/Douglas governments was to remove exchange controls. If there was ever a sniff of a “socialist” regime taking a general election, then the wealthy could ship there wealth overseas and straight-jacketing the incoming government. Can that policy ever be reversed – I think not…

  3. rave 3

    Ah, its not actually a matter of the right or wrong policy and blaming capitalism’s ills on bad policy decisions. Despite the neo-liberal refuge that the scoundrels regulated too much, the scoundrels actually were top banksters seconded to the “de-” regulatory agencies to boost the profits of the banks.

    Neo-liberalism (more-market) was actually dictated by the crisis of falling profits in the late 60s and 70s. These profits didnt fall because of the wrong interventionist Keynesian policies, but the inability of the capitalists to keep profits rising despite growing productivity/exploitation of labor. All Keynesian policy did was shift the blame from bosses falling profits (the cause) onto stagflation (the effect) for which workers could be asked to share the pain. It was the crisis of falling profits that called forth a return to market forces to devalue surplus capital values. Neo-liberalism as an ideology was the bosses PR to get us to swallow their more market shock therapy.

    So far from neo-liberal policies being bankrupt, it is actually capitalism that is bankrupt. And while Keynesians may joyfully attach the hammer and sickle to their pinko policy prescriptions to revamp state interventions, it is actually the neo-liberals who have privatised the state from under them. NZ is catching up and putting corporate managers into prime public sector jobs to oversee the privatisation of state functions.

    What is meant by this is that the state is used not prime the pump through job creation, but as the bank of last resort to guarantee private profits. This proves that neo-liberals were never opposed to using the state so long as the money went into their pockets and not those of workers. They are simply forced by THEIR crisis to stake an open claim to what is after all THEIR state.

    If you want to run up the hammer and sickle you might actually point out what it stands for: the expropriation of capitalist property and the smashing of the capitalist state.

  4. Bill 4

    “How much more evidence do we need that neoliberal right wing deregulated economies are bad for people and bad for growth?”

    Em. Might I venture that this misses the point?

    Neo-liberalism is good for profit and works perfectly well for the small percentage of humanity it is meant to work for. So what if it’s bad for real economies and people and general? Outside of neo liberal propaganda, real people and real economies were never the point.

  5. peteremcc 5

    “Unregulated financial markets”

    Perhaps you could elaborate as to which financial markets were unregulated?

    • r0b 5.1

      Who is “you”? Passing by, my quick response, I’m not an expert but there was a good piece here a while back on regulatory laws that were successful and the effect when they were removed (current crash) – see the second video clip here:

      Elizabeth Warren on the bailouts


      She doesn’t go in to specifics but does give a broad, brief historical overview. There are also some summary notes on Wikipedia:
      http://en.wikipedia.org/wiki/Deregulation#United_States

    • r0b 5.2

      Turns out there’s even a term for a whole category of the worst offending unregulated organisations – the “shadow banking system”:
      http://en.wikipedia.org/wiki/Financial_crisis_of_2007-2009#Boom_and_collapse_of_the_shadow_banking_system

      • peteremcc 5.2.1

        The section you link to mentions nothing about regulation.

        Infact, the section that does discuss (de)regulation, focuses almost entirely on the ‘deregulation’ of Fannie Mae and Freddie Mac.

        Those would be the government owned organisations.

        And the ‘deregulation’ would be the government forcing the F’s to loan to people who couldn’t afford to pay it back.

        Which part of that exactly is neo-liberal?

        • Zaphod Beeblebrox 5.2.1.1

          Actually its a bit of both.The deregulation involved the financiers being reckless, the regulation involved taxpayers all over the world getting the bill. The 2 F’s weren’t forced to do anything, they just followed the money tree. They onsold their rubbish loans as Credit Default Swaps to institutions all over the world who had them insured by AIG. The US government picked up the bill. The financiers capitalised their gains and socialised their losses.

        • r0b 5.2.1.2

          The section you link to mentions nothing about regulation.

          Ahh – yeah, it does:

          These entities became critical to the credit markets underpinning the financial system, but were not subject to the same regulatory controls.

          Also:

          As the shadow banking system expanded to rival or even surpass conventional banking in importance, politicians and government officials should have realized that they were re-creating the kind of financial vulnerability that made the Great Depression possible–and they should have responded by extending regulations and the financial safety net to cover these new institutions.

          Click through to the main article on shadow banking system and:

          Shadow institutions are not subject to the same safety and soundness regulations as depository banks, meaning they do not have to keep as much money in the proverbial vault relative to what they borrow and lend.

          And so on. Pretty clear that there was a huge unregulated financial network, and that regulations in the traditional banking sector had been relaxed, and that these factors were crucial contributors to the train wreck.

          • peteremcc 5.2.1.2.1

            hmm, quite right, not sure how i missed that.

            even so, it would be nice if you had something that wasn’t simply an opinion of geitner or krugman.

            plenty of others have opposite opinions.

            furthermore, even if they had been deregulated, the banking system was still probably the most regulated industry in the us.

            what regulation would you propose, and how would it work?

          • r0b 5.2.1.2.2

            what regulation would you propose, and how would it work?

            Who me? I don’t do finance / economics, not my thing at all. But as described by Warren in the video clip I linked to above there were three main regulatory systems that kept everything in check for decades (before they were “picked apart”). My guess is that it would be sensible to put them back in place again. Paraphrasing the transcript:

            FDIC Insurance — it’s safe to put your money in banks.

            Glass-Steagall [Act of 1933] — banks won’t do crazy things

            SEC regulations.

  6. Stephen 6

    Making home ownership a political issue that requires massive amounts of government intervention doesn’t sound like it’s entirely blameless for this fiasco either. Somewhat ironically part of this intervention seemed to have involved intervention to relax standards of lending that banks were held to…

    • r0b 6.1

      “Part of” perhaps – it looks like a complicated issue. As the article you link to describes it, the government pushing for more people into housing is something that has happened several times, ending badly. But it has never ended in a global economic crash before. What happened this time required the multiplier effect of the financial “products” built around these bad loans (and leveraged to insane levels).

      Also, while government intervention might have pushed for more home ownership, the lenders certainly seem to have got carried away. The term predatory lending was coined to describe the worst practices, and there were cogent warnings about it at least as early as 2005.

  7. gingercrush 7

    There is a rather good interview with Robert Wade on Iceland’s meltdown by Kim Hill on National Radio.

    http://www.radionz.co.nz/podcasts/saturday.rss

  8. Stephen 8

    Agree with you r0b (not that i’m overly familiar with this stuff, but that article helped). Far too many people eager to blame only ONE factor in this crisis, really not the way to go.

    I will surely have a listen to that thanks gingercrush.

  9. Quoth the Raven 9

    I think the points being made in Rave, Bill and peteremcc’s comments are good ones. The poster is believing the neo-liberals own propaganda. The neo-liberals agressively used the state for the interests of the rich. It wasn’t about getting the state out of the market.
    What must be remembered about the New Deal is that many of the regulations brought in were actively lobbyied for by big business itself for the purpose of limiting competition from smaller competitors and strengthening their power.
    This is a good critical article here on labour regulations brought in during the new deal: Free The Unions (and all political prisoners).
    Another good article is this one: Goo-Goo Historical Mythology

    It’s all very complex but to think that neo-liberals are rabidly free market and the New Deal was brought in to save us from the excesses of the free market is an absurd misreading of history and bears little resemblance to reality.

  10. I would love to know what sort of system you want us in NZ to adopt. Honestly! What economic and social system do you prefer if capitalism isn’t your choice?

    • r0b 10.2

      I’m pretty middle of the road. I’ll settle for constrained capitalism. Capitalism where:
      (1) we acknowledge that the environment has to come first, “growth” is not the only goal,
      (2) there is a strong and fair social welfare system and a commitment to a realistic (not huge) gap between the richest and the poorest members of society,
      (3) there are sensible regulations to constrain capitalist practices, such as the banking regulations (that America abandoned), fair and decent labour law, law to preserve media diversity, regulation of overseas ownership etc,
      (4) a state funded political process that bans all private money in the political system.

      I’m aware that plenty of others on this blog would have more radical views, but I think you have to work within the constraints of (sadly) greed motivated human nature. So, capitalism, but regulated to prevent its instability and its damaging effects.

      • Bill 10.2.1

        “you have to work within the constraints of (sadly) greed motivated human nature”

        Why?

        Why not promote and work within the constraints of other, more desirable, aspects of human nature?

        Why, instead of supporting and perpetuating a system that rewards greed, avarice etc, not give thought, time and energy towards the development of systems that reward according to other criteria ( better expressions of human nature), such as effort and sacrifice?

        Transformation of society won’t happen overnight ( neither did Capitalism suddenly ‘appear’), but that’s no reason not to seek out and support initiatives or ideas that move in that direction.

        Or I guess you could reject all that and embrace the explicit fatalism contained in your assertion that we have to work within the constraints of greed.

        But why do that or accept that as a ‘be all and end all’?

        .

        • r0b 10.2.1.1

          Why not promote and work within the constraints of other, more desirable, aspects of human nature?

          First let me ask if you agree with the premise that most human beings are motivated most of the time in most of their thinking and action by concern for their individual (or near family) welfare. Motivated to “get ahead” and “acquire stuff” and so on.

          In short, humans are mostly motivated by self / family interest. True or false?

          If true, do you think this aspect of human nature can be easily changed?

          • Bill 10.2.1.1.1

            The welfare of an individual is not necessarily well served by individualism and/or consumerism …’getting ahead’ (succeeding or finding meaning by Capitalist measures of success and meaning)… and/or ‘acquiring stuff’.

            Effective self/ family interest is not solely served by ( and is arguably not best served by) the options available under Capitalism.

            Capitalism limits the options available to us to serve our own and our family/communities best interest. We have to ‘play the game’ as it were, and that game’s rules are that less desirable human traits are rewarded and more desirable traits are either not rewarded or attract disadvantage ( Good guys come last)

            No need to change human nature. Simply change the game…the system that guides our behaviours; that rewards some of the less palatable aspects of human nature.

          • r0b 10.2.1.1.2

            Ho Bill, not sure this conversation will survive the transition to the new week. So quickly…

            It was a bit glib of me above to call it “greed motivated human nature”. I think that in general people do act mostly out of self interest (at its worst and often greed, but of course not always).

            You want to “change the game” to promote other aspects of human nature to organise society. I’m not sure that can be done, at least in the short term. Certainly the examples that I can think of that have tried have all failed (maybe minor exceptions).

            I think we have to work with human nature, and have a system that accommodates its basic drives. I think capitalism – constrained capitalism as I’ve described it above, does have lots to recommend it. Room for individuals to do their thing, room for a strong society that takes care of all (and the environment).

            I doubt if we’d reach agreement on this, but in the short term it doesn’t matter because in either case our aims are the same. Oppose this terrible, arrogant, misguided government and work for the parties that represent the left of NZ politics. Onwards!

          • Draco T Bastard 10.2.1.1.3

            The majority of people aren’t motivated by greed. Those people who are motivated by greed tend to be sociopaths (yes, I’ve actually read the research papers that support this but it was some time ago and I can’t remember where or who by).

            Capitalism itself is a failed system as it uses poverty as it’s sole motivator – work to make someone else rich or starve (That’s why the right gets upset about the unemployment benefit). I see no reason why we would want to perpetuate a failed system such as capitalism.

            So, we need a system that ensures that no one lives in poverty, motivates the majority of people, makes sure that people are well rewarded for their efforts and yet prevents the creation of capitalists. It also needs to exist within the limits of the natural ecosystem which presently aren’t known but it is known that we’ve exceeded them.

            From my reading the system that comes closest is high-tech, green, and communist/anarchist.

      • Quoth the Raven 10.2.2

        It’s important to know who makes these regulations. It’s usually big business for the interests of big business.
        If anyone is expecting “sensible regulations” to come from the Obama administration they’re sorely mistaken. Read Of, By, and For the Elite

        • Quoth the Raven 10.2.2.1

          I’ll add that it is as Kevin Carson said in an article that’s related to this post: “The only way to prevent centralized machinery from being taken over by a ruling class is not to have centralized machinery.”

  11. RedLogix 11

    Clint,

    That’s a perfectly fair question, but it’s putting the cart before the horse.

    What do you want the ‘system’ to do?

  12. serpico 12

    What about the “system” ?
    New Zealand seems be one big systematic failure.
    Dangerous country that needs a big clean up.

  13. jarbury 13

    This article is a hilarious read: http://www.telegraph.co.uk/news/worldnews/northamerica/usa/barackobama/5301078/Barack-Obamas-rich-supporters-fear-his-tax-plans-show-hes-a-class-warrior.html

    All the right-wingers in the USA getting grumpy that Obama is actually going to do what he said he was going to do.

    The anguish that tax-haven loopholes are going to be closed down!

    The president’s plans are direct repudiation of the model of light touch regulation credited with creating economic growth and wealth in America in recent decades.

    LOL….. yeah the rich have got richer.

    • r0b 13.1

      My what a surprise, it’s the same in England where taxes on the rich have just been increased:

      It’s more than a week since Alistair Darling’s budget, but the howls of protest haven’t stopped for a day ever since. That’s not been the public sector employees facing a harsh squeeze on jobs and pay who’ve been squealing, or the million workers expected to join the dole queues in the next year, or even the majority or people who will have to stump up another half per cent of national insurance contributions every month. No, the outrage has come from the richest 2% of taxpayers who are going to have to part with 50% of earnings over £150,000 – and personal allowances over £100,000 – and later stand to lose top-rate tax relief on pension contributions.

      Never mind that the wealthiest taxpayers will still be contributing to the public purse at a 10% lower rate than for nine of Margaret Thatcher’s 11 years in office, or that six of the richest OECD countries have higher rates. From the Mail to the Financial Times, a crusade has been joined against the new 50p tax. This is nothing but a “fiscal lynching”, it’s claimed, a “spiteful” display of the “age of envy”, and a disastrous outbreak of “class war”.

      The petulant cries of outrage sound tediously familiar don’t they. But there we have it, England and America moving in the right direction. It certainly highlights just how foolish John Key is to have done the exact opposite with his tax cuts targeted to the rich.

  14. inpassing 14

    Rave’s penultimate chapter contains a kernel of practical truth.. well said that man!

    Today.. and in passing you understand we have received another truth from the Australian economist, academic and community leader, John Quiggin, which Mr. Heine may care to take onboard lest his apparent confidence is found wanting in practice.. yet again. Nay, there is nought wrong with capitalism a la Novak – a idea (birthed in human brains) – it is the implementation that is found so very often wanting..

    To JQ.. with my emphases added..

    To sum up, although the Austrian School was at the forefront of business cycle theory in the 1920s, it hasn’t developed in any positive way since then. The central idea of the credit cycle is an important one, particularly as it applies to the business cycle in the presence of a largely unregulated financial system. But the Austrians balked at the interventionist implications of their own position, and failed to engage seriously with Keynesian ideas.

    The result (like orthodox Marxism) is a research program that was active and progressive a century or so ago but has now become an ossified dogma. Like all such dogmatic orthodoxies, it provides believers with the illusion of a complete explanation but ceases to respond in a progressive way to empirical violations of its predictions or to theoretical objections.

    Sums up personalities accurately, does it not, and their inability to let go.. of a loser.. and has me wondering how the folks here would go with that parallel to orthodox Marxism.

Recent Comments

Recent Posts

  • Predator Free apprenticeships open up new job opportunities
    The expansion of a predator free apprenticeship programme is an opportunity for more people to kick-start a conservation career, Conservation Minister Kiri Allan says. “The Predator Free Apprenticeship Programme is focused on increasing the number of skilled predator control operators in New Zealand through a two-year training programme. “The Trust ...
    BeehiveBy beehive.govt.nz
    11 hours ago
  • Further NCEA support confirmed for Auckland students
    The number of Learning Recognition Credits for senior secondary school students will be increased for Auckland students, Education Minister Chris Hipkins confirmed today. This recognises the extended time these students will spend in Alert Levels 3 and 4. “It means students in Auckland will have a fair opportunity to attain ...
    BeehiveBy beehive.govt.nz
    14 hours ago
  • Long-term pathway next step to better mental wellbeing for New Zealanders
    The Government is taking a new approach to support people who experience mental distress, Health Minister Andrew Little says. “Kia Manawanui Aotearoa – Long-term pathway to mental wellbeing (Kia Manawanui) is the first 10-year plan of its kind that targets the cause of mental distress and also sets out how ...
    BeehiveBy beehive.govt.nz
    16 hours ago
  • Keeping our Police safe to keep our communities safe
    The Government is committed to keeping our frontline police officers safe, so they in turn can keep New Zealanders safe – with one of the largest investments in frontline safety announced by Police Minister Poto Williams at the Police College today.   The $45 million investment includes $15.496 million in ...
    BeehiveBy beehive.govt.nz
    18 hours ago
  • Clean Vehicles Bill passes first checkpoint
    The Land Transport (Clean Vehicles) Amendment Bill will help New Zealand drive down transport emissions by cleaning up the light vehicle fleet, Transport Minister Michael Wood says. The Bill passed its first reading today and will establish the legislative framework for key parts of the Government’s Clean Car Package, including ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Funding boost supports ongoing Māori COVID-19 response
    The Government is responding to the need by whānau Māori and Māori Health providers to support their ongoing work responding to COVID-19 and to continue increasing rates of Māori vaccination, Associate Minister for Health (Māori Health), Peeni Henare and Minister for Māori Development Willie Jackson announced today.   This increased ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Significant increase to COVID-19 penalties
    Penalties for breaches of COVID-19 orders are set to significantly increase from early November 2021 to better reflect the seriousness of any behaviour that threatens New Zealand’s response to the virus, COVID-19 Response Minister Chris Hipkins said today. “Throughout this Delta outbreak we’ve seen the overwhelming majority of people doing ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Counter-Terrorism Legislation Bill returns to Parliament
    The Counter-Terrorism Legislation Bill has returned to Parliament for its second reading in an important step towards giving enforcement agencies greater power to protect New Zealanders from terrorist activity. “The Bill addresses longstanding gaps in our counter terrorism legislation that seek to protect New Zealanders and make us safer,” Justice ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Joint Statement: New Zealand and Australian Trade Ministers
    Hon Damien O'Connor MP, New Zealand Minister for Trade and Export Growth, and Hon Dan Tehan MP, Australian Minister for Trade, Tourism and Investment, met virtually on Monday 20 September to advance trans-Tasman cooperation under the Australia-New Zealand Closer Economic Relations Trade Agreement (CER). CER is one of the most ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Prime Minister’s Post Cabinet Press Conference/COVID-19 Update opening statement
    ***Please check against delivery***   E te tī, e te tā, nau mai rā [To all, I bid you welcome]   As you will have seen earlier, today there are 22 new community cases to report; three of which are in Whakatiwai in the Hauraki area, and the remainder in ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Major milestones for Māori COVID-19 vaccine rollout as new campaign launches
    Whānau Ora and Associate Health (Māori Health) Minister Peeni Henare acknowledges two major milestones in the rollout of the COVID-19 vaccination programme for Māori. “I am very pleased to announce more than 50 percent of eligible Māori have received their first dose and 25 per cent are now fully vaccinated,” ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Government funding to fight infectious diseases
    $36 million for research into Covid-19 and other infectious diseases The investment will improve our readiness for future pandemics Research will focus on prevention, control, and management of infectious diseases The Government’s investing in a new Infectious Diseases Research Platform to boost Aotearoa New Zealand’s Covid-19 response and preparedness for ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Quarantine-free travel with Australia to remain suspended for a further 8 weeks
    Suspension to be reviewed again mid to late November Decision brought forward to enable access from Australia to first tranche of around 3000 rooms in MIQ Air New Zealand working at pace to put on more flights from Australia from October    The suspension of quarantine-free travel (QFT) with Australia has ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Extra support for Ethnic Communities to share vaccination information
    Extra support is being made available to Ethnic Communities to help them share COVID-19 vaccination information within their communities, Minister for Diversity, Inclusion and Ethnic Communities Priyanca Radhakrishnan said. “We know we need to get every eligible person in New Zealand vaccinated. A fund being launched today will allow for ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • School holidays remain unchanged for Auckland region
    School holidays in Auckland will continue to be held at the same time as the rest of the country, starting from Saturday, 2 October, Education Minister Chris Hipkins said today. “I’ve carefully considered advice on the implications of shifting the dates and concluded that on balance, maintaining the status quo ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Government continues crackdown on gangs and organised crime
    Operation Tauwhiro extended until March 2022 Since it was launched in February, Operation Tauwhiro has resulted in:   987 firearms seized $4.99 million in cash seized 865 people charged with a firearms-related offence Gangs and organised crime groups will continue to be relentlessly targeted with the extension of Police’s successful ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Speech to Body Positive 'HIV Treatments Update Seminar 2021'
    E ngā mana E ngā reo E ngā iwi Tēnā koutou katoa Ka huri ki ngā mana whenua o te rohe nei. Tēnā koutou. He mihi hoki ki a tatou kua tau mai nei I raro I te kaupapa o te rā. Nō reira tēnā koutou katoa Acknowledgements It’s a ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Power bill changes bring fairness to charges
    A key recommendation of an independent panel to make electricity charges fairer across all households will be put in place, the Energy and Resources Minister Megan Woods has announced. “Phasing out the regulations on ‘low-use’ electricity plans will create a fairer playing field for all New Zealanders and encourage a ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • NZ economy’s strong momentum will support rebound from Delta outbreak; COVID fund replenished
    The economy showed strong momentum in the period leading up to the recent Delta COVID-19 outbreak, which bodes well for a solid economic rebound, Grant Robertson said. GDP rose 2.8 percent in the June quarter, following on from a 1.4 percent increase in the previous March quarter. This was a ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Projects create benefits into the future
    Making a well-known lake swimmable and helping to halt the decline of the endangered hoiho/yellow-eyed penguins are among a suite of new projects being supported by the Government’s Jobs for Nature programme across the southern South Island, Conservation Minister Kiri Allan says. “It’s no secret that many of our most ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Opening statement for Whāriki Indigenous Small Business Roundtable
      Kei ngā tōpito e wha o te āo e rere ana te mihi maioha ki a koutou nō tawhiti, nō tata mai e tāpiri ana ki tēnei taumata kōrero mo te ao hokohoko arā mā ngā pākihi mo ngā iwi taketake Tēnā koutou, tēnā koutou katoa – Pai Mārire.  ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • New members appointed to Kāpuia
    The Government is adding four additional members to Kāpuia, the Ministerial Advisory Group on the Government’s Response to the Royal Commission of Inquiry into the terrorist attack on Christchurch mosques. “I’m looking forward to having Pamela MacNeill, Huia Bramley, Melani Anae and Katherine Dedo  join Kāpuia and contribute to this group’s ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Timeline confirmed for Emissions Reductions Plan
    Cabinet has agreed to begin consulting on the Emissions Reduction Plan in early October and require that the final plan be released by the end of May next year in line with the 2022 Budget, the Minister of Climate Change, James Shaw confirmed today. “Cabinet’s decision allows organisations and communities ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Pay parity pathway for early learning teachers confirmed
    Pay parity conditions and higher funding rates for education and care services will come into force on 1 January, 2022, Minister of Education Chris Hipkins confirmed today. The Government signalled this work in Budget 2021. “From 1 January, 2022, centres opting into the scheme will receive government funding and be ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Speech to the New Zealand Nurses Organisation Conference 2021
    Kia Ora tatau katoa.   Ka tuku mihi ki nga nēhi, He pou Hauora o Aotearoa, E ora ai tatou.   Whakatau mai  I runga i te kaupapa o te ra Te NZNO conference.   Tena koutou tena koutou Tena tatou katoa   Good morning, and thank you inviting me ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Government investment in farmer-led catchment groups sweeps past 150 mark
    171 catchment groups have now been invested in by the Government 31 catchment groups in the Lower North Island are receiving new support More than 5,000 farmers are focussed on restoring freshwater within a generation through involvement in catchment groups  Government investment in on-the-ground efforts by farmers to improve land ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Fight to protect kauri on track
    The Government is pitching in to help vital work to protect nationally significant kauri forests in Auckland, Minister of Conservation Kiri Allan says. “Ensuring the survival of these iconic trees for future generations means doing everything we can to prevent the potential spread of kauri dieback disease,” Kiri Allan said. ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Joint statement of Mr Bernard Monk; Hon Andrew Little, Minister Responsible for Pike River Re-entry,...
    [Note: The Parties have agreed on terms to fully and finally settle the proceeding and will jointly issue the below statement.] At the heart of this litigation are the lives of the 29 men tragically lost at the Pike River mine on 19 November 2010 and to whom we pay ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • More financial support for businesses
    Today’s decision to keep Auckland in a higher COVID Alert Level triggers a third round of the Wage Subsidy Scheme which will open for applications at 9am this Friday. “The revenue test period for this payment will be the 14th to the 27th of September. A reminder that this is ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Aotearoa New Zealand provides further humanitarian support for Afghanistan
    Aotearoa New Zealand is providing a further $3 million in humanitarian assistance in Afghanistan, Foreign Minister Nanaia Mahuta announced today.  “There is significant humanitarian need in Afghanistan, with the crisis disproportionately affecting women and girls,” said Nanaia Mahuta. The UN has estimated that 80% of the quarter of a million ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Innovative te reo prediction tool announced in Te Wiki o Te Reo Māori
    A new Māori language prediction tool will play a key role in tracking our te reo Māori revitalisation efforts, Minister for Māori Development Willie Jackson announced today. He Ara Poutama mō te reo Māori (He Ara Poutama) can forecast the number of conversational and fluent speakers of te reo Māori ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Further Government support for people to access food and essential items
    The Government is responding to need for support in Auckland and has committed a further $10 million to help people access ongoing food and other essential items, Minister for Social Development Carmel Sepuloni announced today. This latest tranche is targeted at the Auckland region, helping providers and organisations to distribute ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Half a million Pfizer vaccines from Denmark
    The Government has secured an extra half a million doses of Pfizer COVID-19 vaccines from Denmark that will start arriving in New Zealand within days, Prime Minister Jacinda Ardern announced today. “This is the second and larger agreement the Government has entered into to purchase additional vaccines to meet the ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Inland Revenue providing essential COVID support for businesses
    Inland Revenue is seeing increased demand for Resurgence Support Payments and other assistance schemes that it administers, but is processing applications quickly, Revenue Minister David Parker said today. David Parker said the Resurgence Support Payment, the Small Business Cashflow (loan) Scheme and the Wage Subsidy are available at the same ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • New Zealand marks 20th anniversary of 9/11 attacks
    New Zealand is expressing unity with all victims, families and loved ones affected by the September 11 2001 terrorist attacks, and all terrorist attacks around the world since, including in New Zealand. “Saturday marks twenty years since the 9/11 terrorist attacks in the United States, which killed nearly 3,000 people ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Speech to SPREP Environment Ministers
    Talofa Honourable Ulu of Tokelau Faipule Kelihiano Kalolo Tēnā koutou katoa and warm Pacific greetings from Aotearoa to your excellencies, ladies and gentlemen. The new science released by the Intergovernmental Panel on Climate Change on 8 August paints an alarming picture of the projected impacts of climate change on the ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Additional Resurgence Support Payments to support business
    Businesses affected by higher Alert Levels will be able to apply for further Resurgence Support Payments (RSP). “The Government’s RSP was initially intended as a one-off payment to help businesses with their fixed costs, such as rent. Ministers have agreed to provide additional payments to recognise the effects of an ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • More Dawn Raids scholarships announced
    Details of the ‘Manaaki New Zealand Short Term Training Scholarships’, a goodwill gesture that follows the Government’s apology for the Dawn Raids of the 1970s, were released today by Pacific Peoples Minister Aupito William Sio. “These scholarships that are targeted to the Pacific will support the kaupapa of the Dawn Raids’ ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • One-way quarantine-free travel for RSE workers starting in October
      One-way quarantine-free travel for Recognised Seasonal Employer (RSE) workers from Samoa, Tonga and Vanuatu starts in October New requirement for RSE workers to have received their first vaccination pre-departure, undertake Day 0 and Day 5 tests, and complete a self-isolation period of seven days, pending a negative Day 5 ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Govt boosts Pacific suicide prevention support
    Applications have opened for the Pacific Suicide Prevention Community Fund as the Government acts to boost support amid the COVID delta outbreak. “We know strong and connected families and communities are the most important protective factor against suicide and this $900,000 fund will help to support this work,” Health Minister ...
    BeehiveBy beehive.govt.nz
    2 weeks ago