web analytics

Dumbest journo award goes to Armstrong

Written By: - Date published: 9:00 pm, March 7th, 2012 - 55 comments
Categories: Media, privatisation - Tags:

Yesterday Shearer asked Key: “Is it correct that under the current provisions of the bill half a dozen foreign investors could legally purchase all the listed shares?”.

Key answered “No, because the limit is 10 percent, 6 times 10 is 60, and the Government is keeping 51 percent.”

Armstrong thinks that Key slammed Shearer writing “It was the equivalent of the maths teacher handing a pupil the dunce’s hat and telling him to go and stand in the corner.”

But of course 6 can buy 49% when there’s a 10% cap. Key lied.

If you’re as thick as Armstrong, I’ll spell it out to you by analogy.

6 people can lift up to 10kgs each. Another person has 100kg of flour and is letting people take 49 kgs. Can the 6 people, between them take 49kgs? Of course they can. They can take up to 10kgs, they don’t have to take 10kgs each. Of the myriad permutations, how about: 5 take 8kgs and one takes 9 =49kgs?  To be more precise, they could take 8.16kgs each on average and none would have to over 10kg. In fact, you can do it with 5 – 4 take 10kgs and one takes 9kgs, or 9.8kgs each.

Get it now, John?

So, Key lied to Parliament when he said that 6 people couldn’t buy all the shares between them. Either he is a complete moron himself and not the numbers genius we’re led to think or, more likely because only a complete fucken idiot like Armstrong would think what Key said was correct, Key knowingly misled the House. I expect the breach of privilege is already under way.

So what are we left with?

A situation where:

  • 6, of 5 for that matter, individuals (which could all be subsidiary companies) can buy all the shares in our assets;
  • the PM is a lair or a moron and;
  • the Herald’s political editor can’t even recognise a breach of privilege in front of him and, apparently no-one else at the Herald picks it up either.

What a goddam embarrassment.

55 comments on “Dumbest journo award goes to Armstrong ”

  1. There’s something I don’t get in the following:

    Shearer was the first to cop it. He asked Key if it was correct that under the provisions of just-introduced legislation covering the part-sale of state-owned enterprises like Genesis Energy, “half a dozen foreign investors” could legally purchase all the listed shares.
    “No,” Key replied firmly before adding that no-one would be able to hold more than 10 per cent, that six times 10 was 60, and the Government was retaining 51 per cent.
    It was the equivalent of the maths teacher handing a pupil the dunce’s hat and telling him to go and stand in the corner.

    Perhaps I don’t understand what ‘listed shares’ refers to but my sense is that the lesson in arithmetic (and logic) needs to be given to John Armstrong and John Key, not David Shearer.

    If 49% of the shares are sold (i.e., publicly listed) and there is a maximum cap of 10% then, how about six shareholders buying 8.166% of the shares, five buying 9% and one 4%, five buying 8% and one buying 9%, etc., etc., etc.?

    If the government’s 51% is going to be ‘publicly listed’ then, surely, it could be traded – but I thought that was out of the question (and legislation).

    If it isn’t out of the question – and the 51% of shares the government holds will be publicly listed – then the partial privatisation is worse than expected. That is, the government would be able to sell its shares whenever it wanted to without altering the legislation.

    If the legislation does prevent the government selling its shares, then how are the shares being ‘listed’?

    • Colonial Viper 1.1

      Yeah its all ***facedesking*** material here. I can feel myself getting dumber just associating with these people.

    • Blue 1.2

      Give John Armstrong a break. He doesn’t know or care anything for numbers or complex financial stuff. He just loves to snigger like a schoolboy when his idol scores a ‘point’ in Parliament.

      He couldn’t even restrain himself until tomorrow to tell the world how fabulous John Key’s ‘performance’ was. He had to rush out an article this very afternoon to share the news!

      John Key – 1 smartarse point
      John Armstrong – 1 dumbarse point

      • Zetetic 1.2.1

        Well, this is the weird thing, Blue. The exchanges happened the previous question time.

        In this question time, Key was embarrassed by the revelation that Mfat staff have been advised by the contractors handling their redundancies to cope with stress by ‘getting a pet or praying’ – http://www.stuff.co.nz/national/politics/6538752/Get-a-pet-Ministry-spends-340-000-for-contractors

        Armstrong chose not to cover that in his piece immediately after and went back instead to something that happened the day before. Which he didn’t understand.

        A remarkable contortionist feat.

        The only question is whether he did it because he was pissed Labour had given Stuff the cat story to be released simultaneously with question time, or because he’s just a hopeless Key-lover.

        • David H 1.2.1.1

          Just watching Parliament Yeah it’s late/early, and in the 2nd question Chris Hipkis is going well on a supplementary. But there’s the so called PM just bloody laying back texting or playing a game on his Cell phone! Question 2 4.44 in I mean can he be any more disrespectful to the house and other members? Maybe he’s playing Angry Birds to get the next round of figures he needs for his spin, NZ run by a High Score.

    • PoliticallyCorrected 1.3

      Puddlegum this government has a proven track record of using the sales theory of it’s easier to ask for forgiveness than permission so for me you’ve raised a point I’ve been cautious about ever since Key first announced National’s intentions of pursuing mixed ownership model for these companies back in January 2011.

      Very early on in this interview on Campbell Live he says,

      “then the government, through ‘Mum & Dad’ would own 51%”

      State asset sales – Key explains why – Video : http://tinyurl.com/72rnymw

      The context of the discussion at the time allowed for ‘Mum & Dad’ to be used in his response, still it struck me as an odd thing or slip (?) to say. Does National have intentions for ‘Mum & Dads’ to be included in the government’s 51% and if yes why are we not been told?

    • Rosemary 1.4

      Maybe it’s me who needs some sort of lesson, Puddlegum, but I think you have simply restated the precise point of Zetetic’s post.

      • Puddleglum 1.4.1

        I actually posted it in Open Mike about half an hour before this post went up.

        The comment got moved over. Same with CV’s comment that follows mine. I haven’t got any problem with that – it fits here.

        • Rosemary 1.4.1.1

          Okay, that makes sense. Looked a response to Zetetic’s post but obviously it wasn’t.

  2. Reagan Cline 2

    Whoever owns the shares, the company will still be selling the power and we will be paying for it The company will have to charge realistically because there are competitors and we could decide to “power down”, the shareholders will be paying tax back to us and will be carrying the burden of ownership, we will still be collecting the GST. Will the company be worth a whole lot more in 20 years ? How sustainable are those dividends really, compared to the dividend from using the cash in other ways.

    • Zetetic 2.1

      sigh.

      1) Private owners have a higher cost of capital than the Crown, which borrows at sovereign rates (4%) compared to 8% for a corporation.

      So, the Crown can make a profit off owning companies returning 6% (the figure used in the Budget Policy Statement), while a private investor can’t. Even mum and dad are better off paying down the mortgage than taking a 6% before tax return.

      The CEO of Contact, just yesterday, said that corporate investors shouldn’t put their money in power companies unless prices and profits go up.

      2) Currently, the two highest charging power companies are Contact and Trust power. Meridian is the lowest. Partial privatisation will mean the SOEs all move up, allowing the private cos to move up too. The boards will be legally obliged to increase prices if it increases profits. And what are we meant to do when everyone puts their prices up ‘power down’? Shit, do you realise that the major electricity users are our manufacturers? You’re basically saying ‘shrink the economy’. Is that the outcome from privatisation you want? A smaller economy with fewer jobs?

      3) The Budget Policy Statement by the government says that the deficit will be $100m a year larger after the assets are sold. That’s right, selling these profitable assets will leave the government $100m a year worse off. Is that a price to pay for being ‘relieved’ of half the ‘burden of ownership’. When has it ever been ‘burdensome’ to own these companies anyway?

      4) You think that these dividends are unsustainable? What, we’re all going to stop using electricity? If that happens, it be because we have bigger issues than partial asset sales.

      And, no, we’re not all going to be off the gird making our own energy – Meridian’s dams have basically no capital cost and little operating cost, they can always out-price the cost of you getting your own solar panels and wind turbines. In fact, we’re going to end up using more electricity as transport belatedly switches from liquid fuels.

      And, like I said at the start, the return on these assets is greater than the Crown’s cost of borrowing, so the opportunity cost of holding these assets is holding less debt, and that would be a worse alternative.

      • shreddakj 2.1.1

        Everything you said in this comment, over and over. This should be compulsory reading for anyone who is pro-infrastructure sales…

      • David H 2.1.2

        “You’re basically saying ‘shrink the economy’ Is that the outcome from privatisation you want? A smaller economy with fewer jobs?”

        To the NACTS thats heaven.and a well run economy. To the rest of us, well it means ever increasing prices, and decreasing wages, and all the profit goes off shore. To say nothing of the little announce fact that the minority shareholders can take the majority shareholder to court or something . and accuse them of not ‘making proper moves to maximise profits’. Maybe someone else can elaborate, I just know that this 51% bullshit from Keys lips, is NOT the full story, and he KNOWS what can happen, hell he has probably forced it as a rapacious banker.

      • thatguynz 2.1.3

        +1

      • Simon Poole 2.1.4

        Have you considered submitting editorials, Zetetic? Posts like this need as much airing as possible.

        You don’t even need to resort to an ideological argument over asset sales – economic facts make their sale untenable. This isn’t about left v. right, this is about the fact that it doesn’t make financial sense to sell the assets.

        Of course, some people don’t care about financial sense or simply don’t understand the issue. None so blind as those unwilling to see etc.

  3. queenstfarmer 3

    Zet, I haven’t seen the draft legislation, but are you sure it isn’t the case that 100% of the shares will be listed, with the Govt retaining 51% and private investors able to buy 49%?? That is the way it usually works.

    In which case Key’s answer is completely accurate.

    • Zetetic 3.1

      it doesn’t actually talk about listing at all. It says the Crown must hold at least 51% of voting rights and others may hold no more than 10% each.

      • queenstfarmer 3.1.1

        Then in the absence of something in the legislation, the company will be regarded as listed, with 49% of the shares floated (not a legal term, but obviously meaning “for sale”). So Key’s statement is technically right.

        To force the desired answer from Key, Shearer’s question could have been: “Is it correct that under the current provisions of the bill half a dozen foreign investors could legally purchase all the offered shares?”

        To which the answer would be technically yes, but highly unlikely for the same reason that no NZX-listed companies have only 6 shareholders, instead typically having many thousands.

        Plus I can guarantee that I will be a shareholder, so in reality the answer to Shearer’s question would still be no 🙂

        • Colonial Viper 3.1.1.1

          Plus I can guarantee that I will be a shareholder, so in reality the answer to Shearer’s question would still be no

          Shame to lose your shares back to the Government with no compensation.

        • thatguynz 3.1.1.2

          “Plus I can guarantee that I will be a shareholder, so in reality the answer to Shearer’s question would still be no”


          Are you sure that you can guarantee that QSF?  Have you been assured that there will be no preferential institutional placements and that those placements won’t be fully subscribed? 
           
          Don’t be so quick to believe that the availability to “Mum & Dad investors” is a guaranteed outcome.

          • queenstfarmer 3.1.1.2.1

            Yes I do guarantee it. I expect there will be institutional placements and quite possibly oversubscription. That is a sign of a healthy IPO.

            • thatguynz 3.1.1.2.1.1

              I think you missed my point QSF (Unless you are an institutional insider in which case I apologise)..
               
              If the full allotment of available shares is made to institutional placements and it is fully subscribed (or over-subscribed) how do you propose that you are going to get any shares at a personal level? (Again – assuming you would categorise yourself as a “Mum & Dad” investor.)
               

              • queenstfarmer

                Easily. The same way I get all my shares. Buy them on-market. How else do you propose one does it?

                • thatguynz

                  Again, you missed my point.  My point is that with preferential institutional placements there is no guarantee that the shares will hit the open market.  Ergo, there will be none available for you to buy.  It is wholly contingent on whether the institutional placements are in turn back-stopped by hedge funds and the like who may be taking a buy and hold approach.
                   
                  As I said – you don’t have a guarantee irrespective of what John and Bill have been telling you.

                  • queenstfarmer

                    Are you suggesting that liquidity will suddenly grind to halt on the NZX, and large holders will no longer be willing to make trades at any price?

                    If that is your prediction, go ahead and make it.

                    My guarantee stands. I suspect you know how this will turn out.

    • Policy Parrot 3.2

      There are three main problems with the mixed ownership model privatisation the government is proposing. Some are already well documented, and others aren’t so.

      1. Stakeholder interest lessened – State Owned Enterprises are effectively private companies operating under the aegis of the state. As such, they can be directed to operate in manner more reflective of stakeholder theory, the additional stakeholders being (in the case of the electricity companies) customers (power consumers), environmental and cultural groups (i.e. Fish and Game, iwi). Partial privatization no doubt means that there will be a greater focus on profit, at the expense of other stakeholders.

      2. Loss of effective control – Under the MOM, the government is placed in a dilemma. In addition to being a part-owner (majority is irrelevant), it is also a regulator. This situation puts the government in a position where it has serious potential for conflict of interest. Thus, private investors will be likely be cold on investing unless sufficient guarantees can be offered that the government will not unduly interfere in the operation of the company. One likely concession is a board of directors that is either weighted in favour of private investors, or even in the event of a split or state dominated board, the government may instruct its directors to remain largely silent in setting strategic direction and policy, for example, pursuing profit maximisation. In addition, there will no longer be ministerial responsibility for the company, e.g. no Minister of Air NZ?, when there is a Minister for say, ACC.

      3. Loss of dividend stream/Catch 22. Profits made by the company, will under the MOM model be partially portioned out to private investors, instead being wholly returned to the government. If the government can convince private investors that ownership of these companies is such a good idea, why is it so keen to flog them off? Surely either one of two scenarios will result from a float:
      a) Capital returns increase, and the government therefore is worse off than it would have otherwise been (opportunity cost), a huge possibility if the SOEs are undervalued or sold at/near the bottom of the market, or
      b) Capital returns decline, and private investors are worse off, the mum and dad investors that the government has touted the sharemarket to as good place to invest lose money.
      They can’t have it both ways.

      In summation, a poor decision from an economic standpoint.

      • Colonial Viper 3.2.1

        In summation, a poor decision from an economic standpoint.

        Of course, you’re talking about the standpoint of the nation. John Key is talking about the standpoint of himself, his banker mates, and the top 0.1%.

      • Pascal's bookie 3.2.2

        Good poonts PP.

        Another aspect I haven’t seen get any coverage at all is the fact that we are going to have these behemoths listed on the nzx, competing for investors, with an implict govt backing against co. failure.

        I can remember when that sort of thing was considered to be a very damaging lunacy that distorted market outcomes and what not.

        I haven’t heard a peep from any of the people that used to warn against it however, so I guess it was all just a load of shit, but I would like to hear an explanation of why it was a load of shit, and why it’s all kosher now.

    • Blighty 3.3

      They could hold the Crown’s shares as a different class, unlisted.

      All the references I see in google talk about listing or floating 49%.

      It would be dancing on the head of a pin to argue Key was saying that all the shares will be listed, including those held by the govt, when the question is clearly about those to be sold.

      • Blighty 3.3.1

        In fact, the Crown’s 51% is legally a substantially different type of ownership than the 49% – it can’t be sold.

        Like the Kiwishare in Air NZ, I would think the 51% would be treated as a different, unlisted class.

        • KJT 3.3.1.1

          Until the Government wants to cut taxes to their mates even more as the inevitable deficit from their policies gets larger. Then it will be “deja vu all over again”. TINA.

        • alwyn 3.3.1.2

          Technically the Kiwi Share in Air New Zealand can be disposed of at any time.
          The Kiwi Shareholder can instruct the company to convert it to an ordinary share and then that share can be sold immediately. Once it becomes an ordinary share it cannot be changed back.
          See section 3.5 of the Air New Zealand constitution.

  4. Ed 4

    It does seem to be wordplay. It would not surprise me if the stock exchange regarded all the shares as being listed – there are plenty of companies where a majority owner is extremely unlikely to sell; having all the shares ‘listed’ would make it easier to work out percentage holdings.

    Shearer clearly meant ‘of the available listed shares’, or ‘of the listed shares available for sale’, but in the context of parliament should perhaps have been more precise.

  5. Draco T Bastard 5

    So, Key lied to Parliament when he said that 6 people couldn’t buy all the shares between them.

    Key’s reply was a well crafted misdirection implying that the question was about the full ownership rather than the 49% that would be listed as public shares. Armstrong, being the NAct brown-noser that he is, is reinforcing that message.

    • Colonial Viper 5.1

      Armstrong is past his use-by date, he just hasn’t stopped twitching on the keyboard yet.

      • Hami Shearlie 5.1.1

        When I see Armstrong’s photo I’m always reminded of Victor Meldrew!!!

    • Ed 5.2

      I don’t think there was anything ‘well crafted’ about Key’s response. It was instinctive and relates directly back to his view of all assets as being ‘available for sale’ in the Right circumstances. If Shearer had referred to the shares being sold that would have been different – in theory 5 shareholders could hold that portion of the company. Once the company is set up, it is only one same change of legislation to enable more to be sold; Trader John won’t want to exclude that possibility. The article by Armstrong reflects the media bias towards entertaining trivia rather than reporting substance.

  6. tc 6

    Armstrongs pieces are classic examples of the sycophantic approach the MSM has to key, they couldn’t look past the BS if they tried as they are biased shills, osullivan is another blatant Nat apologist.

    Journalism doesn’t exist in granny just opinion and spin that suits its masters.

  7. Spammer 7

    Just from reading the article and not doing any research i would presume that John Key was referring to a maximum buy of 10% of the shares on offer. Which is 4.9% of the total shares in the company. Not sure if this is correct but i don’t think Key would screw up such a simple question like that.

    • I don’t think you are correct (but it was worth suggesting).

      Key mentions “6 times 10 is 60” which only makes sense if Key himself thinks that ‘10%’ is relative to the 100% of shares of which the government will retain 51%.

      Also, that interpretation would suggest that the 51% he refers to as the government’s ‘kept’ share must be 51% of the 49% being ‘offered’, which would mean that the government was, in effect, retaining something around 75% of the overall shares in the entities (the 51% not being ‘offered’ and 51% of those shares that are on offer). (And, incidentally, that would mean that 6 foreign investors could still buy the 49% of 49%, in toto – even with a ‘cap’ of 4.9%.)

      But I don’t think this is what Treasury based their estimates on – and no-one thinks that is the plan.

      Key has either made an elementary arithmetical error (when he had time to make a simple calculation) or he was being (or thought he was being) a clever dick in trying to bamboozle people with nonsensical numerology.

      If the latter, then this may be the secret to his financial success. In that case, I’m sure we’re all glad that our world so handsomely rewards such unproductive, adolescent clever-dickery.

    • Blighty 7.2

      No, 10% is 10% of the whole company. read the bill on legislation.govt.nz

  8. framu 8

    and the comments there just came on line – armstrong is getting a real hammering on his maths skills

  9. tsmithfield 9

    Zetetic “So, Key lied to Parliament when he said that 6 people couldn’t buy all the shares between them…..”

    If it is true that all the shares are to be listed but only 49% offered to the public, then Key has not lied to parliament at all, and the above comment should be withdrawn and an apology issued both to Key and to Armstrong.

    Sure, Key may have been able to assume what Shearer was getting at. However, his job when answering questions is to answer the question as it is put accurately, and not make assumptions about what the questioner might mean. If it is true that all shares are to be listed, then Key would have technically lied in answering the question if he had answered it according to what he might have assumed Shearer had meant. It is the job of the questioner to ask the question in a way that extracts the information desired.

    This shows to me that Shearer simply is not up to the job at the moment. Larry Williams made absolute mincemeat of him on Newstalk ZB last night. Must have been quite embarrassing for Labour.

  10. Kevin 10

    Through the process of mergers and acquisitions 10% investors can consolidate their ownership into one, or alternatively through partial acquisitions increase their holdings to a majority. This will happen.
    Also the mums and dads investors Mr Key often refers to won’t in fact be individuals, they will be shareholders or stakeholders in institutional investment vehicles such as KiwiSaver and Iwi organisations but not as individuals. There may be sub 1% share clubs that may play on the fringes for fun.

  11. Fortran 11

    Why do I feel that Shearer is business naive and is capable of being bamboozled in such matters.

    Would it not have been better for say Cunliffe to raise this. He has been a merchant banker so has some clear iunderstanding of how business works.

  12. Reagan Cline 12

    Zetetic, your analysis is pursuasive, so why is our Government so set on the sale ?

    The picture you paint seems incomplete. Perhaps the policy is supported more by faith than by reasoned argument. In which case a reasoned response might not be persuasive.

    How about moving from an economy based on cheap energy courtesy of Government ownership, in concert with ruthless primary production, the externals never properly costed, to a more knowledge based economy ?

    A comparative analysis of the energy consumption rates of various manufacturing sectors will show differences. Why not try to encourage industries with lower energy and environmental costs and greater input of human cleverness and skills ?

    How can 4.4 miilion people afford to pay for the education and training this might require ?

    How about collecting the cash value of the externals not accounted for by farming, forestry, horticultural and fishing businesses and using it to pay for an education system that will enable a more knowledge based economy. One reason our Government gives for the asset sales is to put more cash into education infrastructure. Would the profits from primary production be too damaged if they payed for the environmental effects ? Is that a reason for raising cash by other means, like selling state assets ?

    We live off the inherited capital of our climate, lands and seas (and of course the largely imported know-how to expoit them). How about creating more human capital assisted by the appropriate government policies, rather than relying so much an accidents of nature. Who would form such a government and devise such policies ?

    • Kotahi Tane Huna 12.1

      The picture you paint seems incomplete: it’s the drivel.

    • Policy Parrot 12.2

      There are a good many other ways in way the same results can be achieved without partial privatisation, the fact that you linked your plausible commendable outcome to such an irrational process demonstrates how the public at large can be persuaded under TINA.

  13. Reagan Cline 13

    Policy Parrot how can my “plausible commendable outcomes” be achieved without partial privatisations and who would form a government to achieve them ?

    • Policy Parrot 13.1

      On the one hand, you talk about the problems we face because our economy is “based on cheap energy courtesy of Government ownership, in concert with ruthless primary production, the externals never properly costed, and yet you go on to ponder “would profits from primary production be too damaged if they paid for the environmental effects?”

      How are we supposed to move towards a “knowledge-based, high-skilled, low energy economy” if those who are most directly involved the production of the negative externalities are not directly disincentivised, so that private investment considers the “knowledge-based, high-skilled, low energy economy” relatively more attractive? Ultimately, we will not achieve the desired economy if the private sector does not sufficiently believe in it – that means they, in addition to the state, have to invest in it.

      Partial asset sales are an irrelevance because the government already possesses the power to simply hike the power dividend from its energy companies. It does not need to privatise them simply so they charge in a manner that reflects the true costs of their power generation. In addition, the dividend stream foregone by the sale would easily cover the portion of the projected proceeds allocated to education within 4 or 5 years.

      Your second question is more difficult to answer. There are many sweetheart deals (e.g. Tiwai Point) and sacred cows (pun intended) that would have to sacrificed in order to shift investment into categories that fit with the vision you have outlined.

  14. Reagan Cline 14

    Helloo again KTH, SO IT’S THE DRIVEL THAT’S MISSING ? Can you be more specific ?

Recent Comments

Recent Posts

  • Face to face meeting delivers significant progress on NZ-UK FTA
    New Zealand and the UK have committed to accelerating their free trade agreement negotiations with the aim of reaching an agreement in principle this August, Trade Minister Damien O’Connor announced. “We’ve held constructive and productive discussions towards the conclusion of a high-quality and comprehensive FTA that will support sustainable and inclusive trade, and ...
    BeehiveBy beehive.govt.nz
    16 hours ago
  • Government taking action to protect albatross
    New population figures for the critically endangered Antipodean albatross showing a 5 percent decline per year highlights the importance of reducing all threats to these very special birds, Acting Minister of Conservation Dr Ayesha Verrall says. The latest population modelling, carried out by Dragonfly Data Science, shows the Antipodean albatross ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Adoption laws under review
    New Zealand’s 66-year-old adoption laws are being reviewed, with public engagement beginning today.  Justice Minister Kris Faafoi said the Government is seeking views on options for change to our adoption laws and system. “The Adoption Act has remained largely the same since 1955. We need our adoption laws to reflect ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Wider roll-out of cameras on boats to support sustainability and protect marine life
    Up to 300 inshore commercial fishing vessels will be fitted with on-board cameras by 2024 as part of the Government’s commitment to protect the natural marine environment for future generations.  Minister for Oceans and Fisheries David Parker today announced the funding is now in place for the wider roll out ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Plan for vaccine rollout for general population announced
    New Zealanders over 60 will be offered a vaccination from July 28 and those over 55 from August 11, Prime Minister Jacinda Ardern announced today. The rollout of the vaccine to the general population will be done in age groups as is the approach commonly used overseas, with those over ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • New Zealand introduces Belarus travel bans
    New Zealand has imposed travel bans on selected individuals associated with the Lukashenko regime, following ongoing concerns about election fraud and human rights abuses after the 2020 Belarus elections, Foreign Affairs Minister Nanaia Mahuta has announced. The ban covers more than fifty individuals, including the President and key members of ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • NZ economy grows driven by households, construction and business investment
    The Government’s efforts to secure the recovery have been reflected in the robust rebound of GDP figures released today which show the economy remains resilient despite the ongoing impact of the COVID-19 pandemic, Grant Robertson said. GDP increased 1.6 percent in the first three months of 2021. The Treasury had ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Milestone 250th tower continues to improve rural connectivity
    The Government has welcomed the completion of the 250th 4G mobile tower, as part of its push for better rural connectivity. Waikato’s Wiltsdown, which is roughly 80 kilometres south of Hamilton, is home to the new tower, deployed by the Rural Connectivity Group to enable improved service to 70 homes ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Quarantine Free Travel pause with Victoria to lift on Tuesday
    Following a further public health assessment of the COVID-19 outbreak in greater Melbourne, New Zealand’s Quarantine Free Travel pause with Victoria has been extended to 11.59pm on Tuesday 22 June, COVID-19 Response Minister Chris Hipkins says. It has been determined that the risk to public health in New Zealand continues ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Prime Minister mourns passing of Dr Sir Ian Hassall
    Prime Minister Jacinda Ardern is mourning the passing of Dr Sir Ian Hassall, New Zealand’s first Children’s Commissioner and lifelong champion for children and children’s health. As a paediatrician Sir Ian contributed to a major world-first cot death study that has been directly credited with reducing cot deaths in New ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • APEC structural reform meeting a success
    APEC ministers have agreed working together will be crucial to ensure economies recover from the impact of COVID-19. Minister of Commerce and Consumer Affairs David Clark, chaired the virtual APEC Structural Reform Ministerial Meeting today which revolved around the overarching theme of promoting balanced, inclusive, sustainable, innovative and secure growth ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Digital hub to boost investment in forestry
    A new website has been launched at Fieldays to support the forestry sector find the information it needs to plant, grow and manage trees, and to encourage investment across the wider industry. Forestry Minister Stuart Nash says the new Canopy website is tailored for farmers, iwi and other forestry interests, ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Government continues support for rangatahi to get into employment, education and training
    Over 230 rangatahi are set to benefit from further funding through four new He Poutama Rangatahi programmes, Minister for Social Development and Employment Carmel Sepuloni announced today. “We’re continuing to secure our economic recovery from COVID by investing in opportunities for rangatahi to get into meaningful employment, education or training ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • NCEA subjects up for consultation
    The education sector, students, their parents, whānau and communities are invited to share their thoughts on a list of proposed NCEA subjects released today, Education Minister Chris Hipkins says. This is a significant part of the Government’s NCEA Change Programme that commenced in 2020 and will be largely implemented by ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Major investment in plantain forage programme aims to improve freshwater quality
    The Government is backing a major programme investigating plantain’s potential to help farmers protect waterways and improve freshwater quality, Acting Agriculture Minister Meka Whaitiri announced at Fieldays today. The Sustainable Food and Fibre Futures (SFFF) fund is contributing $8.98 million to the $22.23 million seven-year programme, which aims to deliver ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • America’s Cup decision
    The Minister responsible for the America’s Cup has confirmed the joint Crown-Auckland Council offer to host the next regatta has been declined by the Board of Team New Zealand. “The exclusive period of negotiation between the Crown, Auckland Council, and Team New Zealand ends tomorrow, 17 June,” said Stuart Nash. ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Food and fibres sector making significant strides towards New Zealand’s economic recovery
    The Government is backing the food and fibres sector to lead New Zealand's economic recovery from COVID-19 with targeted investments as part of its Fit for a Better World roadmap, Forestry Minister Stuart Nash said. “To drive New Zealand’s recovery, we launched the Fit for a Better World – Accelerating ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Speech to He Whenua Taurikura – New Zealand’s annual hui on countering terrorism and violent...
    Check against delivery Can I begin by acknowledging the 51 shuhada, their families and the Muslim community. It is because of the atrocious violent act that was done to them which has led ultimately to this, the start of a dialogue and a conversation about how we as a nation ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Cost of Government Southern Response proactive package released
    The Government has announced the proactive package for some Southern Response policyholders could cost $313 million if all those eligible apply. In December, the Minister Responsible for the Earthquake Commission, David Clark announced a proactive package for SRES claimants who settled their claims before October 2014. It trailed the judgment ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • New support to reduce emissions from public building and construction projects
    Government agencies are getting new support to reduce carbon emissions generated by construction of new buildings, with the release of practical guidance to shape decisions on public projects. The Ministers for Building and Construction and for Economic Development say a new Procurement Guide will help government agencies, private sector suppliers, ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • He Whenua Taurikura: New Zealand’s first Hui on Countering Terrorism and Violent Extremism
    The Prime Minister has opened New Zealand’s first hui on Countering Terrorism and Violent Extremism, which is being held in Christchurch over the next two days. The hui delivers on one of the recommendations from the report of the Royal Commission of Inquiry into the terrorist attack on Christchurch masjidain ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Speech to inaugural Countering Terrorism Hui
    E aku nui, e aku rahi, Te whaka-kanohi mai o rātou mā, Ru-ruku-tia i runga i te ngākau whakapono, Ru-ruku-tia i runga i te ngākau aroha, Waitaha, Ngāti Mamoe, Ngai Tahu, nāu rā te reo pohiri. Tena tātou katoa. Ki te kotahi te kakaho ka whati, ki te kapuia, e ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Campaign shines a light on elder abuse
    A new campaign is shining a spotlight on elder abuse, and urging people to protect older New Zealanders. Launched on World Elder Abuse Awareness Day, the Office for Seniors’ campaign encourages friends, whānau and neighbours to look for the signs of abuse, which is often hidden in plain sight. “Research suggests ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Farewelling sports administrator and philanthropist Sir Eion Edgar
    Sport and Recreation Minister Grant Robertson today expressed his sorrow at the passing of Sir Eion Edgar – a leading sports administrator and celebrated philanthropist who has made a significant impact both within and beyond the sport sector. “Sir Eion’s energy, drive and generosity has been truly immense. He leaves ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Government to apologise for Dawn Raids
    The Government will make a formal apology for the wrongs committed during the Dawn Raids of the 1970’s. Between 1974 and 1976, a series of rigorous immigration enforcement policies were carried out that resulted in targeted raids on the homes of Pacific families. The raids to find, convict and deport overstayers ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Humanitarian support for Bangladesh and Myanmar
    Foreign Affairs Minister Nanaia Mahuta today announced that New Zealand is providing NZ $8.25 million in humanitarian assistance to support refugees and their host populations in Bangladesh and to support humanitarian need of internally displaced and conflict affected people in Myanmar.  “Nearly four years after 900,000 Rohingya crossed the border ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Poroporoaki: Dame Georgina Kamiria Kirby
    E Te Kōkō Tangiwai, Te Tuhi Mareikura, Te Kākākura Pokai kua riro i a matou. He toka tū moana ākinga ā tai, ākinga ā hau, ākinga ā ngaru tūātea.  Haere atu rā ki te mūrau a te tini, ki te wenerau a te mano.  E tae koe ki ngā rire ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Feedback sought on future of housing and urban development
    New Zealanders are encouraged to have their say on a long-term vision for housing and urban development to guide future work, the Housing Minister Megan Woods has announced. Consultation starts today on a Government Policy Statement on Housing and Urban Development (GPS-HUD), which will support the long-term direction of Aotearoa ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Clean car package to drive down emissions
    New rebates for electric and plug-in hybrid vehicles start July 1 with up to $8,625 for new vehicles and $3,450 for used. Electric vehicle chargers now available every 75km along most state highways to give Kiwis confidence. Low Emission Transport Fund will have nearly four times the funding by 2023 ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Progress towards simpler process for changing sex on birth certificates
    The Government is taking the next step to support transgender, non-binary and intersex New Zealanders, by progressing the Births, Deaths, Marriages and Relationships Registration Bill, Minister of Internal Affairs, Jan Tinetti announced today. “This Government understands that self-identification is a significant issue for transgender, non-binary and intersex New Zealanders, and ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Crown speeds up engagement with takutai moana applicants
    The Crown is taking a new approach to takutai moana applications to give all applicants an opportunity to engage with the Crown and better support the Māori-Crown relationship, Treaty of Waitangi Negotiations Minister Andrew Little says. Following discussions with applicant groups, the Crown has reviewed the existing takutai moana application ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Alcohol and Other Drug Treatment (AODT) Court opens
    The Minister of Justice, Kris Faafoi, and the Minister for Courts, Aupito William Sio, have welcomed the opening of a new Alcohol and Other Drug Treatment (AODT) Court in Hamilton. The AODT Court (Te Whare Whakapiki Wairua) addresses situations where substance abuse and offending are intertwined. “New Zealanders have told ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • EU and UK FTAs top of list for first ministerial trip since COVID-19
    Trade and Export Growth Minister Damien O’Connor today announced details of his planned visit to the United Kingdom and European Union next week, where he will hold trade and agriculture discussions to further New Zealand’s economic recovery from COVID-19. The visit will add political weight to ongoing negotiations with both the EU ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Arihia Bennett to chair Royal Commission Ministerial Advisory Group
    Te Rūnanga o Ngāi Tahu chief executive Arihia Bennett MNZM has been appointed chair of the newly appointed Ministerial Advisory Group on the Government’s Response to the Royal Commission of Inquiry into the terrorist attack on Christchurch mosques. “Twenty-eight people from diverse backgrounds across Aotearoa have been selected for the ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Speech to the New Zealand Medical Association General Practitioners' Conference, Rotorua
    Ki ngā pou maha o te whare hauora o Aotearoa, kei te mihiTo the pillars of our health system I acknowledge/thank you Ki te ope hapai hauora o roto o tēnei rūma, kei te mihi To our health force here in the room today, I acknowledge/thank you He taura tangata, ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Karangahape Road upgrades are streets ahead
    The upgrades to Karangahape Road makes the iconic street more pedestrian and cycle-friendly, attractive and environmentally sustainable, Transport Minister Michael Wood and Auckland Mayor Phil Goff said at the formal celebration of the completion of the Karangahape Road Enhancements project. The project included widening footpaths supporting a better outdoor dining ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Speech to APEC business event
    E ngā tumu herenga waka, ākina ā ngaru, ākina ā tai ka whakatere ngā waka ki te whakapapa pounamu, otirā, ki Tamaki o ngā waka Tena koutou katoa… To the great leaders assembled, who guided your waka through turbulent times, challenging waters and you continue to navigate your respective waka ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Pause on Quarantine Free Travel with Victoria extended
    Following an assessment of the COVID-19 outbreak in greater Melbourne, New Zealand’s Quarantine Free Travel pause with Victoria will continue for a further seven days, COVID-19 Response Minister Chris Hipkins says. There are now 93 cases associated with the outbreak in greater Melbourne, spread over four clusters. Contact tracing efforts ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Supplier Diversity Aotearoa Summit: Navigate 2021
    *** Check with delivery *** A mihi to all who have contributed to making today a success – starting with you! As you have explored and navigated government procurement today you will hopefully have reflected on the journey of our people so far – and how you can make a ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Pukemiro School to close
    Pukemiro Primary School near Huntly will close following years of declining roll numbers, Education Minister Chris Hipkins announced today. “I’ve consulted with the School Commissioner, and this decision acknowledges the fact that the few remaining students from last term are now settled at other nearby schools. “I want to thank ...
    BeehiveBy beehive.govt.nz
    1 week ago