‘Bout that gurgling sound…

Written By: - Date published: 2:31 pm, April 24th, 2009 - 53 comments
Categories: economy - Tags:

The average house in New Zealand should be worth about 3.5 times the average household income. (3.5 * $48k = $168k)

The historic long-term rental return on most residential property was about 10%. Current rents for a typical 120m2, three bedroomed home in an average suburb is somewhere in the range of $12-16,000 pa…. ie the value should be about $120-160k.

But at present the average price for a house is about $340k. Spot the difference? Yeah … about $200k. And that is how much asset deflation is going to happen over the next few years.

There are about 2 million residences in New Zealand and if they deflate an average of $200k each, that is about… whoa… my crap old calculator just ran outta digits… but I’m guessing it’s about $400 billion. I’m going to make another wild assed guess and say that about 30% of that is mortgaged. That makes about $120 billion that has to be repaid to banks in cold hard cash, on assets that will be worth less than the outstanding loan. That is real actual money that is effectively being thrown down a gurgling drain, never to be recovered.

Our GDP is about $150 billion, and if we assume we take a 5%pa hit on GDP, say about $8 billion each year to repay this debt down, it will take 120/8 = 15 years to unwind this debt. Add on top of that the excess $50 billion of govt debt now being predicted… and you have some idea of how long this Depression is going to last.

You might also be able to make a wild stab at the only way out of this mess. (No it does not involve tax cuts…)

53 comments on “‘Bout that gurgling sound… ”

  1. Jasper 1

    This is a fallacy that continually gets perpetrated Red.

    You’ve fallen into the trap that a house should only be worth what the people can afford, based simply on what people can borrow at 3.5x their wage i.e. a 145-168K mortgage. Not true.

    Australian homes are worth 5x the average wage, and have been since the 70s. Though how much of this is boosted with the first home grant, I don’t know.

    NZ’s house prices have generally been around 5/6x the average wage since the early 80s. E.g. my parents built their house in 1979, total cost (land and materials and labour) was $22,000, single workers wage was $4000 p.a. That’s almost 6x their wage. When they sold it in 1998 for $158,000, average wage was what, $23K? Cost was still 6.8x the average.

    While NZ house prices are currently averaging $340K, it’s still only 7x the average wage.
    We don’t have that far to fall, and coupled with the double banger of net gain in migration, falling kiwi dollar, returning expats, you’ll probably find that we won’t fall that far.

    I’m not trying to talk it up. We bought our first home last year as we realised the banks would stop 100% lending and we didn’t want to get locked out again. Household income = $110K, mortgage, 230K. Recent valuation gave us $5K more, though probably caused by the amount of work we’ve done.

    • RedLogix 1.1

      Nothing wrong with your numbers, but you have used ‘average wage’ while I was using the rather different ‘average household income’ number. For a ”data intensive’ analysis of the Australian and USA housing bubbles (and our numbers are not a lot dissimilar) I suggest Steven Keen’s analysis here.

      Affordability is slippery measure of house values. Imagine the silly scenario of say banks offering 2% interest rates and 100% LVR’s…. the average ‘affordable’ house price would quickly soar into the millions. Of course now the actual debt would enormous. However low interest rates are, however long the life of a loan… the principal and accrued interest has to be repaid eventually.

      Nor do I think ex-pats will be returning in large numbers in a way that will have much difference. If they have no job in the UK, selling a home into that very depressed market is not very attractive proposition. If they have no new job to come to in NZ why move? The only likely reason would be to move back in with family, or into a second home/bach/off-market rental. The housing market is a lot more elastic than most people realise.

  2. The solution….

    Ummmmm… boost average household income?

    • Observer 2.1

      YES

      • jarbury 2.1.1

        The next question is the killer though: How?

        • Chess Player 2.1.1.1

          Why is it a killer question?

          Think about what you personally could do to boost your own household income, and then do it.

          NZ’s average household income is therefore increased….

          • jarbury 2.1.1.1.1

            Get a better and higher paying job I guess. Oh crap that’s right we’re in a recession and there are virtually no jobs out there in the private sector of my field (planning) because the property bubble has popped. How about public sector, oh no that’s right all councils have gone into lock-down because of the Super-City proposal.

            Guess I’ll be lucky to keep my current job over the next 6 months.

  3. Peter Johns - bigoted troll in jerkoff mode 3

    Socialism ain’t the answer either.

    End DPB, dole and get the country more family focused to take in their relatives and for fathers to be accountable for their off-spring.

    • Draco T Bastard 3.1

      hahahahahaha

      Oh, sweet zombie Jesus, you’re funny.

      Do that and watch as the living standards of the country drop like a stone to rock bottom. One person can barely survive on the median income of ~$27k and you’re saying that those people should support their entire family as well?

    • ripp0 3.2

      spoilsport!

      I was about to suggest an increase in household income might come from leasing back a part of the property.. to say an independent-minded son or daughter stressed out or straitened in these tough times, but you just wiped away the independence part through a lack of compassion I suspect for beneficiaries…

    • Spectator 3.3

      The most practical thing the government could do to defray the cost of the DPB is to get serious about making sure liable parents pay what they owe. Only when it is no longer economic for deadbeats and deserters to dump their children and run will this situation be rectified.

  4. BLiP 4

    Clear the South Island and lease it to the Israelis?

  5. Rob 5

    There are 1.4 million dwellings in NZ, and why the 3.5x icome multiplier?

  6. Rich 6

    A “walkaway” scheme where the government swaps a mortgage in negative equity for an indefinite repairing lease with security of tenure. In return you’re freed of the overhanging debt – the bank gets this back as perpetual government stock.

    Any equity in the property gets assigned to a community housing coop that will get the use of the house when the original occupant moves out, thus building a stock of public housing.

    • Bill 6.1

      Housing Collectives in this thread and worker’s collectives in relation to Air NZ!

      You do know that although such solutions are blindingly obvious, positing them is a bit like trying to point out that the world is a globe in the face of flat earth orthodoxy?

      Was Copernicus still alive?…I’ll stop there. He was well dead before the world came around (sic) to seeing things in a more sensible light.

      Anyway. Just because Copernicus couldn’t bypass his days orthodoxies and render them impotent in his lifetime doesn’t mean to say we can’t. However, we can definitely rely on the current system’s gatekeepers to cleave to the status quo.

      Solution?

  7. Pat 7

    Respectfully, Red, I disagree that house prices will collapse like you suggest. At the end of the day, house prices are governed by supply and demand.

    Take Auckland, for example. The finance company collapses, followed by the credit crunch reducing Banks appetite for lending has seen developers become an (almost) extinct species. Most would say good riddance, but developers did perform one important function – they supplied new housing stock to the market.

    No new housing stock + kiwis returning home from overseas after losing their jobs + plus new immigrants coming to Auckland = eventual housing shortage = house prices and rents going up, even if the recession lasts longer than expected.

    This is not my own theory – this is what BNZ economist Tony Alexander foresees.

    • aj 7.1

      I would never trust what Alexander says. He was one of the many bank shills urging people to fix rate for long periods when they were up at 8 and 9 %
      Housing prices may be ‘governed’ by supply and demand but historical price collapses have ignored both.

      And the wild stab at the way out of this mess, if I may – is inflation. And thats what certain central bankers and governments are trying their damn hardest to generate at the moment. The jury is still out.

      • Lew 7.1.1

        aj,

        I would never trust what Alexander says. He was one of the many bank shills

        This is going a bit far. Bank economists are pretty scrupulously independent, and are not required to hold their employer’s policy line and (in fact, they take great pleasure in saying whatever they please, causing merry hell for the banks’ comms people, PR companies, sales leaders and the CEO, who are all tied to that line). Bank economists are despised and hated by the other parts of the bank for this very reason.

        So whatever Tony Alexander’s faults (and he has ’em), shilling for his employer isn’t one.

        L

        • aj 7.1.1.1

          ok – but when rates were at that higher level and he was encouraging people to fix, he was wrong and he has some responsibility for the number of people now caught with high fixed term loans. He never spelt the risk out – not once – if there was a fall in interest rates. Whatever his allegiances I don’t rate his forecasting much at all.

          • Pat 7.1.1.1.1

            aj – the current break cost scandal has shown up the problems in the system, which could be easily fixed:

            1. Banks should have the same break cost calculation. They vary wildly, ASB the best, ANZ/Westpac the worst.

            2. Break costs calculations should be far easier to understand, and spelt out in plain language in the loan agreements.

            3. Why can’t banks include an online break cost calculator on their online banking platform, so you can check it daily?

          • Jasper 7.1.1.1.2

            Er, AJ.

            I’ve got all of Alexanders Weekly Overviews from about two years ago. Last year when rates were on the up, from July through to December, Alexander constantly encouraged to only fix for 1 year at the most. Same thing in 1998 when they were at 9.5% for 5 years, 11.95% floating he said to fix for 1 year at most.
            Hardly encouraging people to fix long term. Those who fixed 2+ years last year are looking for a scapegoat rather than admitting they valued having security in outgoings.

            The most he flubbed on was forecasting the OCR to fall to 6% mid 2009. At least he picked a fall, but up until October, no one really knew the extent of the overseas financial situation.
            In November he picked a 4.5% OCR mid 09, which was revised downwards to 2.5% in January, and then 2% where it’s been since early February.

            Economists are only as good as the data they have on hand.

        • Observer 7.1.1.2

          Not one of them predicted the recession. So while they might be scrupulously independent they are also totally undependable!

          As a past Prime Miniter of Canada once said, “if you laid every economist in the country end-to-end, you still wouldn’t reach a promise!” (P. Trudeau R.I.P.)

          • aj 7.1.1.2.1

            Jasper, thanks, even so I don’t let him off the hook. I don’t recall him once explaining how break fees could trap borrowers if/when rates fell. If it wasn’t such an oxymoron I’d say bankers had a moral duty to present all side of this equation, much as Pat has outlined.

  8. Apart from the use of many arguable variables, even if you accept the values you have proposed, it only is an issue IF people have to sell. One of the reasons that the market hasn’t crashed is that people largely haven’t been forced to sell. Clearly, those that do are faced with a buyer’s market.

    The other point worth noting is the housing bubble in NZ also got momentum from migrants hence the NZ relativities aren’t the only forces set in stone.

    • Lew 8.1

      Daveski,

      even if you accept the values you have proposed, it only is an issue IF people have to sell.

      I think the point here is that if the economy tanks like people claim it will, folks will have to sell, because they won’t be employed enough to service their mortgages.

      L

      • Daveski 8.1.1

        Even in the Great Depression, unemployment was “only” around 20-25% – still catastrophic but it doesn’t mean all the houses with negative equity (most likely mine too :)) will HAVE to be sold.

        As I’ve noted numerous times before, NZ does not have the same problems in the US particularly eg sub-prime mortgages. Moreover, whereas in the US banks have fallen over, NZ banks are still profitable and therefore able to ride out the worst of the excesses.

        It may well get worse but I would be very surprised to see RedUnLogical’s vision materialise in the extreme while still acknowledging mortagee sales are undoubtedly on the rise at present.

        • Pat 8.1.1.1

          There are a lot less mortgagee sales than there could be. The Banks are being remarkably restrained at the moment, and I have seen examples of people being 6 months or more in arrears without the Bank taking action.

          The Banks are hell bent on hanging on to their Credit Ratings, so they do not want to take a hardline and capitalise a whole heap of losses onto their balance sheets by enforcing a big number of mortgagee sales. So if someone loses their job they can get a lot of breathing space from the Bank by way of repayment holidays etc.

          Many of the mortgagee sales are investment properties where the investor has walked away or, in the case of many Asian investors, gone home.

        • andy 8.1.1.2

          Even in the Great Depression, unemployment was “only’ around 20-25% – still catastrophic but it doesn’t mean all the houses with negative equity (most likely mine too :)) will HAVE to be sold.

          20-25% unemployment = major deflation. Negative equity is not a problem for banks or you as long as you can service a loan. Imagine the downward pressure on wages and prices (of local goods and services) with that rate of unemployment. Your boss would have to offer a 20% wage reduction or let you go to stay competitive, and so would you as an employee.

          At the same time our dollar would become very unattractive and the cost of imported goods would rise taking another slice of your ever decreasing income away from your ability to service your current NZ$ debt. To many mortgagee sales would expose banks balance sheets causing the cost of borrowing money up, driving up interest rates etc.

          the list goes on, in the end deflation is a killer.

          Just sayin…

  9. Pat 9

    The way out of the mess? Farming, forestry and fishing exports into emerging economies.

    We need Chinese and Indians to get a taste for our Eskimo Pies.

  10. Tom Semmens 10

    The solution to all this would be to have tax system that punished anyone who didn’t treat a house primarily as a place you live in rather than primarily as a speculative asset, and rewarded anyone who invested in the productive sector of the economy. That way, people would buy somewhere to live for this notional 168k and invest the mythical 200k in stocks, bonds, and other productive investment vehicles.

    The problem with this approach isn’t really what people traditionally say it – you know, “capital gains tax = electoral death” etc etc. The REAL problem with this approach is trying to convince Sharon and Trevor that they won’t be ripped off for their retirement savings by the dishonest, lazy and incompetent kleptocrats who pass as our business “leaders”.

    Let’s be honest. People invest in property in a large part because they have no faith in New Zealand business and New Zealand businessmen and women.

    • aj 10.1

      Tom I take no pleasure in saying that I have been conservative during this housing boom and done nothing but pay off one mortgage on my one home.
      And I have invested – through shares – in the productive economy.
      The only reward, and not a small one, is that I have a freehold home. My investment in the productive economy has a book value about 50% less than two years ago.
      Hate to get punished for doing the right thing…..

      • Draco T Bastard 10.1.1

        Hate to point it out to you but capitalism doesn’t actually work.

        Take x as a value that’s enough for someone to live comfortably on from the interest alone. Now give everyone x and have them all living on the interest. It doesn’t take a genius to work out that the economy collapses under such a scenario but that’s what all the capitalists and quite a few economists keep telling us is the optimum.

        (Actually, I’m lying, I’m having a lot of fun pointing it out 😛 )

        • Lew 10.1.1.1

          DTB, the point of capitalism isn’t the destination (the interest return), it’s the journey (accumulating that much money).

          L

      • Jared 10.1.2

        If you purchased shares on the open market you have done nothing to further corporate investment, however if you purchased shares through an IPO or share issue then you have contributed to share capital for businesses to further reinvest. Holding shares to get a capital gain return is a fallacy in a market as small as ours. There simply isnt the volume of trading in the NZX to actually get some growth going. You would have been better off investing your money in government bonds or a property/cash fund.

  11. Pat 11

    Dollar Cost Averaging, aj. Keep plugging away at the investments and you will have your day in the sun.

    • aj 11.1

      lol actually thats what I’ve done in an index tracking fund now for about 8years. I think I still have all my ‘capital’ but the last few years gains have gone…
      Still plugging the same amount away each month…irrespective of the current value.

  12. ripp0 12

    That gurgling sound…

    I wonder whether this blog has emanated from very recent news of the World Bank suggesting how the US housing stock still has another 12.5 percent prices drop across the nation to go…

  13. Bill 13

    If only the market economy was water soluble and it rained tomorrow and the next day.

    Blissful gurgling all round instead of this emanation from us and ours going down.

  14. RedLogix 14

    Gee guys.,… I was just going to suggest that we drink our way out of the recession. (But sadly the Japs have gone and bought Lion Nathan, so that mightn’t work so well now…:-)

    • Bill 14.1

      As long as you don’t indulge in corporate lolly water then that option is still open. Who cares if such piss is owned on or off shore? There be really good bier brewed just right here….and there…..and there.

      Enjoy!

  15. CMR 16

    I perceive the formula Red has used as suspect. While it is a measure of the issue the overwhelming influence for house pricing is supply/demand. If the population continues to grow so will the demand on an already inadequate housing stock. The imponderable here is that housing is a stationary commodity and if demand grows disproportionately from one region to another, then a surfeit of housing can germinate in that latter region.

    My solution for housing is to loosen the arbitrary dictates of land use, (Local Government Act,RMA, District Plans etc..) The cost of housing is a misnomer to the extent that the value of the land needs to be subtracted from the total value. If more land is available for housing construction then the cost of that land will reduce over time.

    To summarise: Get government and especially local government out of the industry!

    • RedLogix 16.1

      If the population continues to grow so will the demand on an already inadequate housing stock.

      Yes it is true that NZ does not have the same gross oversupply as is apparent in the USA. But housing demand is more elastic than most people assume. If housing becomes unaffordable for whatever reason, occupancy rates rise to absorb the difference. Young adults stay at home longer, young couples live in the downstairs flat, grandparents move out to the family bach, a rental is taken off the market, a big garage is lined out and some beds moved in… and so on.

      This sort of thing is the norm for working class folk who have been doing it all along; it just comes as a bit of a shock to find it happening in the leafier suburbs.

      If more land is available for housing construction then the cost of that land will reduce over time.

      A decent reply to this is worth a whole post on it’s own. Suffice to say, it’s a form of ‘free market’ ideology that has no basis in reality.

  16. In response to CMR the following:

    While at some time at some place the housing market might be such that there are not enough houses to accommodate the population this I emphatically claim is not the issue in New Zealand.

    Today in Auckland 16.392 houses stretching from Manukau (3698) to Wiheke Island (660) were on sale on Trade me alone.
    For rent were 5654 properties in this city.
    That is a lot of property for sale and for rent on a population of approx. 1.3 million.

    Wellington clocked 7033 Houses for sale and 1123 for rent and equally huge amount of property for sale on a population of 473.700 (2008)

    I suggest you have a look on trade me and It will become clear that every major population centre in NZ has a huge surplus of both to buy and to rent properties.

    Even in nearby Raglan more than 10% of the local property stock is either for sale or to rent.

    5 or 6 subdivision area’s have not sold a singel section in the last two years.
    The sewer, water and power infrastructure burden of those development rests upon the residents a lot of whom are retires who wanted to retire cheaply to their extended batch and are now living under the poverty line due to the expensive developments pushed through by greedy real estate agents and the gullible city council.

    In my native Country Holland 17 million people live on an area the size of North land and believe me or not but people sometimes have to wait (I.E> live with their parents) until late into their twenties until they are able to secure even a rental. They get onto waiting lists age 16 years of age and if they get a house around their late 20s they are lucky.
    These rentals are just square boxes on top of each other anywhere from 4 to 40 floors high. No gardens, no play areas for children and yet the prices are either the same or lower that in New Zealand when we arrived here.

    Imagine our surprise when (My Kiwi) husband and I arrived back here four years ago and we found that the house prices here were much higher than Holland and the quality (Wood, weather board versus stone and concrete) was much much less than in Holland.

    Not only that but the price of your average wooden shack in NZ would buy you a medieval semi chateau in France or four 300 year old stone build beach front property on one of the most romantic Croatian Islands (Korzula) in the Mediterranean.

    And a half acre section in Raglan would have bought you a small chateau in Romania, Hungary or even Greece. That was two years ago, we now see them go for the price of a beach front property on afore mentioned Island in the Mediterranean.

    So if demand and supply were not at the bases of the ridiculous increase in house prices in NZ or the US, UK then what was?

    Well you could ask John Key because he was in New York and he was there when the Glass Steagall act was repealed and the Federal Reserve of New York under Alan Greenspan decided that a housing bubble was just what the world needed. In fact he was one of only four upon invitation only advisors to the Fed Res at the time while he was the European head for Bonds and Derivatives and the Global head for foreign Exchange for Merrill Lynch. Both departments made huge amounts of money with the same intricate (read fraudulent) products now causing the collapse of our financial system. Read here about the subprime and Derivatives crisis. This is also a nice introduction

    • jerry 17.1

      John Key is to blame for the house prices in NZ …..wtf ??

      • RedLogix 17.1.1

        Actually Travellerev has a point. The housing bubble did not just happen last week; it has it’s origins in a course of action set by the banking industry in the 80’s and 90’s, t a time when John Key was very much involved at a senior, influential level, with one of the biggest players in the business.

        Did Key cause the housing bubble all by himself? No, of course not. But neither are his hands clean.

        The right has so far sucessfully defended Key by minimising or obscuring the real implications of his somewhat, shall I say, peculiar CV. For now the New Zealand public is content to let the matter slide under the carpet; but that may not last.

        • jerry 17.1.1.1

          Of course people like yourself with multiple rentals have got nothing to do with the problem ?

          • RedLogix 17.1.1.1.1

            Well no jerry.

            I actually built them from scratch. Mostly with me and my partner’s own hard work. Today we finished tiling a bathroom in the latest one.

            It’s why I usually only get time to blog much in the late weekend evenings.

            The average landlord in New Zealand is has 1.5 units, the vast majority are ordinary mums and dads who have worked very hard for what they have. The small minority of professional investors who have gone on to ten or more units generally only buy properties that for one reason or another are undervalued by the market, and to which they can add some value over time.

            In the last two years of the bubble most properties became grossly overvalued from a cash flow point of view, and most professionals had their cheque books firmly shut. Yet the property market kept on bubbling all the same without us.

            Now of course the market has returned to some semblence of sanity, not so many folks are complaining that some investors are back in the market buying again. (Not me … I think it has a ways to go down yet…)

          • Travellerev 17.1.1.1.2

            In fact I would go as far as saying that with the exceptions of a few people with too much money who where persuaded by smarmy real estate agents to buy or build expensive houses in places like “Raglan” on the assumption that it would be the new “mount” landlords such as RL are as much victims of the artificial housing bubble as the small time house buyers. It’s not as if they can up the rent to cover their losses easily (That is speaking from a tenants point of view) although I’m sure some will try.

            You might want to read this series about the recent history of what the Wall street scheisters (Where John Key had an office at the very time the housing bubble was started) have been up to in the last twenty years.

            RL I agree with you. When we arrived here four years ago we knew that he house prices could not possibly be related to income, economic growth or scarcity and that the market would collapse spectacularly. We decided to rent until that happened. Well it happened and it’s going to get far worse. We keep on waiting.

            The only thing worse that the total deflation world wide of our economy will be the hyper inflation which is sure to follow.

            With the FRNY creating trillions of dollars out of thin air this is just a matter of time before that happens.

  17. Peter 18

    Your analysis is poor. You ignore supply and demand.

    We’re facing a housing shortage now, which will grow even more acute in the next few years because developers have stopped building.

    And it’s not just the number of houses, it’s the type of housing stock. Most of our houses are designed for the nuclear family unit. The nature of the family unit is changing rapidly, and it will be decades before the housing stock reflects this.

    Add the RMA and other council and government regulations forcing up prices, and you’ll soon see where it is going.

    Nowhere near your laughable figures….

    • Have a look on trade me.
      The supply way outweighs the demand in every major city in New Zealand

      • Peter 18.1.1

        Too simplistic.

        Supply of what, exactly? What type of house? Where? At what price?

        It matters not that there are streets of empty houses in, say, Ekatuhuna. The reality is that no one wants to live there.

        Analysis of housing demand in our major housing markets indicates one thing – we’re heading for a supply crunch. The reason for that is mostly to do with land regulation by government.

        Look up “Auckland land shortage critical study” on Google. There is a ton of data out there all pointing in the same direction.

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  • The Book of Henry
    Now in the land of Angus beef and the mighty ABsWhere the steaks were juicy and the rivers did run foulIt would often be said,This meal is terrible,andNo, for real this is legit the worst thing I've ever eatenBut this was an thing said only to others at the table,not ...
    More Than A FeildingBy David Slack
    2 days ago
  • Fact Brief – Is ocean acidification from human activities enough to impact marine ecosystems?
    Skeptical Science is partnering with Gigafact to produce fact briefs — bite-sized fact checks of trending claims. This fact brief was written by Sue Bin Park in collaboration with members from the Skeptical Science team. You can submit claims you think need checking via the tipline. Is ocean acidification from human ...
    2 days ago
  • Happiness is a Warm Gun
    She's not a girl who misses muchDo do do do do do, oh yeahShe's well-acquainted with the touch of the velvet handLike a lizard on a window paneI wouldn’t associate ACT with warmth, other than a certain fabled, notoriously hot, destination where surely they’re heading and many would like them ...
    Nick’s KōreroBy Nick Rockel
    3 days ago
  • Still doing a good 20
    Hello! Here comes the Saturday edition of More Than A Feilding, catching you up on the past somewhat interrupted week. Still on the move!Share Read more ...
    More Than A FeildingBy David Slack
    3 days ago
  • Coalition of the Unwilling?
    What does Budget 2024 tell us about the current government? Muddle on?Coalition governments are not new. About 50 percent of the time since the first MMP election, there has been a minority government, usually with allied parties holding ministerial portfolios outside cabinets. For 10 percent of the time there was ...
    PunditBy Brian Easton
    3 days ago
  • Of red flags and warning signs in comments on social media
    Somewhat surprisingly for what is regarded as a network of professionals, climate science misinformation is getting shared on LinkedIn, joining other channels where this is happening. Several of our recent posts published on LinkedIn have attracted the ire of various commenters who apparently are in denial about human-caused climate change. Based ...
    3 days ago
  • All good, still
    1. On what subject is Paul Henry even remotely worth giving the time of day?a. The state of our nationb. The state of the ACT partyc. How to freak out potential buyers of your gin palace by baking the remains of your deceased parent into its fittings2. Now that New ...
    More Than A FeildingBy David Slack
    4 days ago
  • The looting is the point
    Last time National was in power, they looted the state, privatising public assets and signing hugely wasteful public-private partnership (PPP) contracts which saw foreign consortiums provide substandard infrastructure while gouging us for profits. You only have to look at the ongoing fiasco of Transmission Gully to see how it was ...
    No Right TurnBy Idiot/Savant
    4 days ago
  • The Illusion of Power: How Local Government Bureaucrats Overawe Democratically-Elected Councillors..
    The Democratic Façade Of Local Government: Our district and city councillors are democratically elected to govern their communities on one very strict condition – that they never, ever, under any circumstances, attempt to do so.A DISINTEGRATION OF LOYALTIES on the Wellington City Council has left Mayor Tory Whanau without a ...
    4 days ago
  • Lowlights & Bright Spots
    I can feel the lowlights coming over meI can feel the lowlights, from the state I’m inI can see the light now even thought it’s dimA little glow on the horizonAnother week of lowlights from our government, with the odd bright spot and a glow on the horizon. The light ...
    Nick’s KōreroBy Nick Rockel
    4 days ago
  • Weekly Roundup 14-June-2024
    Another week, another roundup of things that caught our eye on our favourite topics of transport, housing and how to make cities a little bit greater. This Week in Greater Auckland On Monday, Connor wrote about Kāinga Ora’s role as an urban development agency Tuesday’s guest post by ...
    Greater AucklandBy Greater Auckland
    4 days ago
  • The Hoon around the week to June 14
    Photo: Lynn Grieveson / The KākāTL;DR: The podcast above of the weekly ‘hoon’ webinar for paying subscribers features co-hosts and talking with:The Kākā’s climate correspondent about the National-ACT-NZ First Government’s moves this week to take farming out of the ETS and encourage more mining and oil and ...
    The KakaBy Bernard Hickey
    4 days ago
  • Climate policy axed in broad daylight, while taxpayer liabilities grow in the dark
    In 2019, Shane Jones addressed the “50 Shades of Green” protest at Parliament: Now he is part of a government giving those farmers a pass on becoming part of the ETS, as well as threatening to lock in offshore oil exploration and mining for decades. Photo: Lynn GrievesonTL;DR: Here’s the ...
    The KakaBy Bernard Hickey
    4 days ago
  • Rage Bait!
    Hi,Today’s newsletter is all about how easy it is to get sucked into “rage bait” online, and how easy it is to get played.But first I wanted to share something that elicited the exact opposite of rage in me — something that made me feel incredibly proud, whilst also making ...
    David FarrierBy David Farrier
    4 days ago
  • Bernard's Dawn Chorus and pick 'n' mix for Friday, June 14
    Seymour said lower speed limits “drained the joy from life as people were forced to follow rules they knew made no sense.” File Photo: Lynn Grieveson / The KākāTL;DR: My six things to note in Aotearoa-NZ’s political economy around housing, climate and poverty on Friday, June 14 were:The National/ACT/NZ First ...
    The KakaBy Bernard Hickey
    4 days ago
  • Friendly but frank talks with China Premier
    It sounded like the best word to describe yesterday’s talks between Chinese Premier Li Qiang and his heavyweight delegation of Ministers and officials and Prime Minister Christopher Luxon and New Zealand Ministers and officials was “frank.” But it was the kind of frankness that friends can indulge in. It ...
    PolitikBy Richard Harman
    4 days ago
  • Skeptical Science New Research for Week #24 2024
    Open access notables Wildfire smoke impacts lake ecosystems, Farruggia et al., Global Change Biology: We introduce the concept of the lake smoke-day, or the number of days any given lake is exposed to smoke in any given fire season, and quantify the total lake smoke-day exposure in North America from 2019 ...
    4 days ago
  • Geoffrey Miller: China’s message to New Zealand – don’t put it all at risk
    Don’t put it all at risk. That’s likely to be the take-home message for New Zealand Prime Minister Christopher Luxon in his meetings with Li Qiang, the Chinese Premier. Li’s visit to Wellington this week is the highest-ranking visit by a Chinese official since 2017. The trip down under – ...
    Democracy ProjectBy Geoffrey Miller
    4 days ago
  • The Real Thing
    I know the feelingIt is the real thingThe essence of the soulThe perfect momentThat golden momentI know you feel it tooI know the feelingIt is the real thingYou can't refuse the embraceNo?Sometimes we face the things we most dislike. A phobia or fear that must be confronted so it doesn’t ...
    Nick’s KōreroBy Nick Rockel
    5 days ago
  • Gordon Campbell on how moderates empower the political right
    Struth, what a week. Having made sure the rural sector won’t have to pay any time soon for its pollution, PM Christopher Luxon yesterday chose Fieldays 2024 to launch a parliamentary inquiry into rural banking services, to see how the banks have been treating farmers faced with high interest rates. ...
    5 days ago
  • Bernard's Dawn Chorus and pick 'n' mix for Thursday, June 13
    In April, 17,656 people left Aotearoa-NZ to live overseas, averaging 588 a day, with just over half of those likely to have gone to Australia. Photo: Photo: Lynn Grieveson / The KākāTL;DR: My six things to note in Aotearoa-NZ’s political economy around housing, climate and poverty on Thursday, June 13 ...
    The KakaBy Bernard Hickey
    5 days ago
  • Our guide to having your say on the draft RLTP 2024
    Auckland’s draft Regional Land Transport Plan (RLTP) 2024 is open for feedback – and you only have until Monday 17 June to submit. Do it! Join the thousands of Aucklanders who are speaking up for wise strategic investment that will dig us out of traffic and give us easy and ...
    Greater AucklandBy Connor Sharp
    5 days ago
  • The China puzzle
    Chinese Premier Li Qiang arrives in Wellington today for a three-day visit to the country. The visit will take place amid uncertainty about the future of the New Zealand-China relationship. Li hosted a formal welcome and then lunch for then-Prime Minister Chris Hipkins in Beijing a year ago. The pair ...
    PolitikBy Richard Harman
    5 days ago
  • Fossil fuels are shredding our democracy
    This is a re-post of an article from the Climate Brink by Andrew Dessler published on June 3, 2024. I have an oped in the New York Times (gift link) about this. For a long time, a common refrain about the energy transition was that renewable energy needed to become ...
    5 days ago
  • Life at 20 kilometres an hour
    We are still in France, getting from A to B.Possibly for only another week, though; Switzerland and Germany are looming now. On we pedal, towards Budapest, at about 20 km per hour.What are are mostly doing is inhaling a country, loving its ways and its food. Rolling, talking, quietly thinking. ...
    More Than A FeildingBy David Slack
    5 days ago
  • Hipkins is still useless
    The big problem with the last Labour government was that they were chickenshits who did nothing with the absolute majority we had given them. They governed as if they were scared of their own shadows, afraid of making decisions lest it upset someone - usually someone who would never have ...
    No Right TurnBy Idiot/Savant
    5 days ago
  • Exercising with the IDF.
    This morning I did something I seldom do, I looked at the Twitter newsfeed. Normally I take the approach of something that I’m not sure is an American urban legend, or genuinely something kids do over there. The infamous bag of dog poo on the front porch, set it on ...
    Nick’s KōreroBy Nick Rockel
    6 days ago
  • Helm Hammerhand Anime: First Pictures and an Old English ‘Hera’
    We have some news on the upcoming War of the Rohirrim anime. It will apparently be two and a half hours in length, with Peter Jackson as Executive Producer, and Helm’s daughter Hera will be the main character. Also, pictures: The bloke in the middle picture is Freca’s ...
    6 days ago
  • Farmers get free pass on climate AND get subsidies
    The cows will keep burping and farting and climate change will keep accelerating - but farmers can stop worrying about being included in the ETS. Photo: Lynn Grieveson / The KākāTL;DR: My six things to note in Aotearoa-NZ’s political economy around housing, climate and poverty on Wednesday, June 12 were:The ...
    The KakaBy Bernard Hickey
    6 days ago
  • Six ideas to secure Te Huia’s Future
    This is a guest post by our friend Darren Davis. It originally appeared on his excellent blog, Adventures in Transitland, which features “musings about public transport and other cool stuff in Aotearoa/ New Zealand and around the globe.” With Te Huia now having funding secure through to 2026, now is ...
    Greater AucklandBy Darren Davis
    6 days ago
  • The methane waka sinks
    In some ways, there may be less than meets the eye to the Government announcement yesterday that the He Waka Eke Noa proposal for farmers to pay for greenhouse gas emissions has been scrapped. The spectre of farmers still having to pay at some point in the future remains. That, ...
    PolitikBy Richard Harman
    6 days ago
  • At a glance – Does positive feedback necessarily mean runaway warming?
    On February 14, 2023 we announced our Rebuttal Update Project. This included an ask for feedback about the added "At a glance" section in the updated basic rebuttal versions. This weekly blog post series highlights this new section of one of the updated basic rebuttal versions and serves as a ...
    6 days ago
  • Climate Change: Farmers get what they wanted – for now
    Since entering office, National has unravelled practically every climate policy, leaving us with no effective way of reducing emissions or meeting our emissions budgets beyond magical thinking around the ETS. And today they've announced another step: removing agriculture entirely. At present, following the complete failure of he waka eka noa, ...
    No Right TurnBy Idiot/Savant
    7 days ago
  • Presumed Innocent?
    The blue billionaireDistraction no interactionOr movement outside these glazed over eyesThe new great divideFew fight the tide to be glorifiedBut will he be satisfied?Can we accept this without zoom?The elephant in the roomNot much happens in politics on a Monday. Bugger all in fact. Although yesterday Christopher Luxon found he ...
    Nick’s KōreroBy Nick Rockel
    7 days ago
  • Gordon Campbell on our doomed love affair with oil and gas
    What if New Zealand threw a fossil fuel party, and nobody came? On the weekend, Resources Minister Shane Jones sent out the invitations and strung up the balloons, but will anyone really want to invest big time in resuming oil and gas exploration in our corner of the planet? Yes, ...
    WerewolfBy lyndon
    7 days ago
  • Building better housing insights
    This is a guest post by Meredith Dale, senior urban designer and strategist at The Urban Advisory. There’s a saying that goes something like: ‘what you measure is what you value’. An RNZ article last week claimed that Auckland was ‘hurting’ because of a more affordable supply of homes, particularly townhouses ...
    Greater AucklandBy Guest Post
    7 days ago
  • Putin would be proud of them
    A Prime Minister directs his public service to inquire into the actions of the opposition political party which is his harshest critic. Something from Orban's Hungary, or Putin's Russia? No, its happening right here in Aotearoa: Prime Minister Christopher Luxon has announced the Public Service Commission will launch an ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • Resources for debunking common solar and wind myths
    This is a repost from a Yale Climate Connections article by SueEllen Campbell published on June 3, 2024. The articles listed can help you tell fact from fiction when it comes to solar and wind energy. Some statements you hear about solar and wind energy are just plain false. ...
    1 week ago
  • Juggernaut
    Politics were going on all around us yesterday, and we barely noticed, rolling along canal paths, eating baguettes. It wasn’t until my mate got to the headlines last night that we learned there had been a dismayingly strong far right result in the EU elections and Macron had called a ...
    More Than A FeildingBy David Slack
    1 week ago
  • Numbers Game.
    Respect Existence, Or Expect Resistance? There may well have been 50,000 pairs of feet “Marching For Nature” down Auckland’s Queen Street on Saturday afternoon, but the figure that impresses the Coalition Government is the 1,450,000 pairs of Auckland feet that were somewhere else.IN THE ERA OF DRONES and Artificial Intelligence, ...
    1 week ago
  • Media Link: AVFA on post-colonial blowback.
    Selwyn Manning and I discuss varieties of post colonial blowback and the implications its has for the rise of the Global South. Counties discussed include Palestine/Israel, France/New Caledonia, England/India, apartheid/post-apartheid South Africa and post-colonial New Zealand. It is a bit … Continue reading ...
    KiwipoliticoBy Pablo
    1 week ago
  • Policy by panic
    Back in March, Ombudsman Peter Boshier resigned when he hit the statutory retirement age of 72, leaving the country in the awkward (and legally questionable) position of having him continue as a temporay appointee. It apparently took the entire political system by surprise - as evinced by Labour's dick move ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • PSA: NZ's Richest Company, Zuru, Sucks
    Hi,Today the New Zealand press is breathlessly reporting that the owners of toy company Zuru are officially New Zealand’s wealthiest people: Mat and Nick Mowbray worth an estimated $20 billion between them.While the New Zealand press loses its shit celebrating this Kiwi success story, this is a Webworm reminder that ...
    David FarrierBy David Farrier
    1 week ago
  • Bernard's Dawn Chorus and pick 'n' mix for Monday, June 10
    TL;DR: The six things to note in Aotearoa-NZ’s political economy around housing, climate and poverty in the past day to 8:36 pm on Monday, June 10 were:20,000 protested against the Fast-track approval bill on Saturday in Auckland, but PM Christopher Luxon says ‘sorry, but not sorry’ about the need for ...
    The KakaBy Bernard Hickey
    1 week ago
  • In Defence of Kāinga Ora
    Given the headlines around the recent findings of the ‘independent’ review of Kāinga Ora by Bill English, you might assume this post will be about social housing, Kāinga Ora’s most prominent role. While that is indeed something that requires defending, I want to talk about the other core purpose of ...
    Greater AucklandBy Connor Sharp
    1 week ago
  • Baby You're A Rich Man
    “How does it feel to beOne of the beautiful peopleNow that you know who you areWhat do you want to beAnd have you traveled very far?Far as the eye can see”Yesterday the ACT party faithful were regaled with craven boasts, sneers, and demands for even more at their annual rally.That ...
    Nick’s KōreroBy Nick Rockel
    1 week ago
  • Stopping a future Labour government from shutting down gas exploration
    A defiant Resources Minister Shane Jones has responded to Saturday’s environmental protests by ending Labour’s offshore oil exploration ban and calling for long-term contracts with any successful explorers. The purpose would be to prevent a future Labour Government from reversing any licence the explorers might hold. Jones sees a precedent ...
    PolitikBy Richard Harman
    1 week ago
  • 2024 SkS Weekly Climate Change & Global Warming News Roundup #23
    A listing of 32 news and opinion articles we found interesting and shared on social media during the past week: Sun, June 2, 2024 thru Sat, June 8, 2024. Story of the week Our Story of the Week is Yale Climate Connection's Resources for debunking common solar and wind myths, by ...
    1 week ago
  • Fission by the river
    This is where we ate our lunch last Wednesday. Never mind your châteaux and castles and whatnot, we like to enjoy a baguette in the shadow of a nuclear power plant; a station that puts out more than twice as much as Manapouri using nothing more than tiny atoms to bring ...
    More Than A FeildingBy David Slack
    1 week ago
  • Fact Brief – Is the ocean acidifying?
    Skeptical Science is partnering with Gigafact to produce fact briefs — bite-sized fact checks of trending claims. This fact brief was written by John Mason in collaboration with members from the Gigafact team. You can submit claims you think need checking via the tipline. Is the ocean acidifying? Acidification of oceans ...
    1 week ago
  • 20,000+ on Queen St.
    The largest protest I ever went on was in the mid 90s. There were 10,000 people there that day, and I’ve never forgotten it. An enormous mass of people, chanting together. Stretching block after block, bringing traffic to a halt.But I can’t say that’s the biggest protest I’ve ever been ...
    Nick’s KōreroBy Nick Rockel
    1 week ago
  • Josh Drummond's Columns
    Hi there,I wanted to put all of Josh Drummond’s Webworm pieces all in one place. I love that he writes for Webworm — and all of these are a good read!David.Why Are So Many “Christians” Hellbent on Being Horrible?Why do so many objectively hideous people declare themselves “Christian”?Meeting the Master ...
    David FarrierBy David Farrier
    1 week ago
  • Bernard’s Saturday soliloquy and weekend Pick ‘n’ Mix for June 8/9
    Photo: Lynn Grieveson / The KākāTL;DR: On reflection, the six things to note in Aotearoa-NZ’s political economy around housing, climate and poverty this week were:The Government-driven freeze in building new classrooms, local roads and water networks in order to save cash for tax cuts is frustrating communities facing massive population ...
    The KakaBy Bernard Hickey
    1 week ago
  • The no-vision thing
    Hello! Here comes the Saturday edition of More Than A Feilding, catching you up on the past somewhat interrupted week. Still on the move!Share Read more ...
    More Than A FeildingBy David Slack
    1 week ago
  • When Journalists are Disingenuous
    Hi,One of the things I like the most about Webworm is to be able to break down the media and journalism a little, and go behind the scenes.This is one of those times.Yesterday an email arrived in my inbox from journalist Jonathan Milne, who is managing editor at Newsroom.I don’t ...
    David FarrierBy David Farrier
    1 week ago
  • Me, elsewhere: Just say you’ll do the thing
    Wrote something over at 1/200 on a familiar theme of mine: The way we frame the economy as a separate, sacred force which must be sacrificed to, the way we talk about criminals as invaders who must be repelled, the constant othering of people on the benefit, people not in ...
    Boots TheoryBy Stephanie Rodgers
    1 week ago
  • A Voyage Among the Vandals: Accepted
    A nice bit of news today: my 4600-word historical fantasy-horror piece, A Voyage Among the Vandals, has been accepted by Phobica Books (https://www.phobicabooks.co.uk/books) for their upcoming Pirate Horror anthology, Shivering Timbers. This one is set in the Mediterranean, during the mid-fifth century AD. Notable for having one of history’s designated ...
    1 week ago
  • Ministerial conflicts of interest
    Since the National government came to power, it has been surrounded by allegations of conflicts of interest. Firstly, there's the fast-track law, which concentrates power in the hands of three Ministers, some of whom have received donations from companies whose projects they will be deciding on. Secondly, there's the close ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • The 2024 Budget Forecasts Are Gloomy Prognosis About The Next Three Years.
    There was no less razzamatazz about the 2024 Budget than about earlier ones. Once again the underlying economic analysis got lost. It deserves more attention.Just to remind you, the Budget Economic and Fiscal Update (BEFU), is the Treasury’s independent assessment and so can be analysed by other competent economists (although ...
    PunditBy Brian Easton
    2 weeks ago
  • A government that can't see twenty feet ahead
    There are two failings that consistently characterise a National government. One is a lack of imagination, the other is their willingness to look after their mates, no matter what harm it might do to everyone else.This is how we come to have thousands of enormous trucks carving up our roads. ...
    More Than A FeildingBy David Slack
    2 weeks ago
  • A post I hope is incorrect
    In May, we learned that National MP David MacLeod had "forgotten" to declare $178,000 in electoral donations. Filing a donation return which is false in any material particular is a crime, and the Electoral Commission has now referred MacLeod to police, since they're the only people who are allowed to ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Māori Cannot Re-Write New Zealand’s Constitution By Stealth.
    The Kotahitanga Parliament 1897: A Māori Parliament – at least in the guise of a large and representative body dedicated to describing the shape of New Zealand’s future from a Māori perspective – would be a very good idea.THE DEMAND for a “Māori Parliament” needs to be carefully unpicked. Some Pakeha, ...
    2 weeks ago
  • Cowpats and Colonials.
    Dumbtown, is how my friend Gerard refers to people like ZB listeners - he’s not wrong.Normally on a Friday I start by looking at Mike Hosking’s moronic reckons of the week which he vomits down the throats of his audience like helpless baby birds in a nest, grateful for the ...
    Nick’s KōreroBy Nick Rockel
    2 weeks ago
  • Gordon Campbell on cutting the sick leave of vulnerable workers
    Should sick leave be part and parcel of the working conditions from Day One on the job, just like every other health and safety provision? Or should access to sick leave be something that only gradually accumulates, depending on how long a worker has been on the payroll? If enacted ...
    WerewolfBy lyndon
    2 weeks ago

  • Making it easier to build granny flats
    The Government has today announced that it is making it easier for people to build granny flats, Acting Prime Minister Winston Peters and RMA Reform Minister Chris Bishop say. “Making it easier to build granny flats will make it more affordable for families to live the way that suits them ...
    BeehiveBy beehive.govt.nz
    12 hours ago
  • High Court Judge appointed
    Attorney-General Judith Collins today announced the appointment of Auckland King’s Counsel Gregory Peter Blanchard as a High Court Judge. Justice Blanchard attended the University of Auckland from 1991 to 1995, graduating with an LLB (Honours) and Bachelor of Arts (English). He was a solicitor with the firm that is now Dentons ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Health workforce numbers rise
    Health Minister Dr Shane Reti says new data released today shows encouraging growth in the health workforce, with a continued increase in the numbers of doctors, nurses and midwives joining Health New Zealand. “Frontline healthcare workers are the beating heart of the healthcare system. Increasing and retaining our health workforce ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Government to overhaul firearms laws
    Associate Justice Minister Nicole McKee has today announced a comprehensive programme to reform New Zealand's outdated and complicated firearms laws. “The Arms Act has been in place for over 40 years. It has been amended several times – in a piecemeal, and sometimes rushed way. This has resulted in outdated ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Government delivers landmark specialist schools investment
    The coalition Government is delivering record levels of targeted investment in specialist schools so children with additional needs can thrive. As part of Budget 24, $89 million has been ringfenced to redevelop specialist facilities and increase satellite classrooms for students with high needs. This includes: $63 million in depreciation funding ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Major health and safety consultation begins
    A substantial consultation on work health and safety will begin today with a roadshow across the regions over the coming months, says Workplace Relations and Safety Minister Brooke van Velden.  This the first step to deliver on the commitment to reforming health and safety law and regulations, set out in ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Growing the potential of New Zealand’s forestry sector in partnership
    Forestry Minister Todd McClay, today announced the start of the Government’s plan to restore certainty and confidence in the forestry and wood processing sector. “This government will drive investment to unlock the industry’s economic potential for growth,” Mr McClay says. “Forestry’s success is critical to rebuilding New Zealand’s economy, boosting ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Government cancels forestry ETS annual service charges for 2023-24
    Annual service charges in the forestry Emissions Trading Scheme (ETS) will be cancelled for 2023/24, Forestry Minister Todd McClay says. “The sector has told me the costs imposed on forestry owners by the previous government were excessive and unreasonable and I agree,” Mr McClay says. “They have said that there ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Speech to the LGNZ Infrastructure Symposium
    Introduction Thank you for having me here today and welcome to Wellington, the home of the Hurricanes, the next Super Rugby champions. Infrastructure – the challenge This government has inherited a series of big challenges in infrastructure. I don’t need to tell an audience as smart as this one that ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Government boosts Agriculture and food trade with China
    Trade and Agriculture Minister Todd McClay and Food Safety Minister Andrew Hoggard welcomed outcomes to boost agricultural and food trade between New Zealand and China. A number of documents were signed today at Government House that will improve the business environment between New Zealand and China, and help reduce barriers, including on infant formula ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • NZ and China launch Services Trade Negotiations
    Trade Minister Todd McClay, and China’s Commerce Minister Wang Wentao, today announced the official launch of Negotiations on Services Trade between the two countries.  “The Government is focused on opening doors for services exporters to grow the New Zealand’s economy,” Mr McClay says.  As part of the 2022 New Zealand-China Free Trade Agreement Upgrade ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Prime Minister Luxon meets with Premier Li
    Prime Minister Christopher Luxon met with Chinese Premier Li Qiang at Government House in Wellington today.  “I was pleased to welcome Premier Li to Wellington for his first official visit, which marks 10 years since New Zealand and China established a Comprehensive Strategic Partnership,” Mr Luxon says. “The Premier and ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Government and business tackling gender pay gap
    The coalition Government is taking action to reduce the gender pay gap in New Zealand through the development of a voluntary calculation tool. “Gender pay gaps have impacted women for decades, which is why we need to continue to drive change in New Zealand,” Acting Minister for Women Louise Upston ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Funding Boost for Rural Support Trusts
    The coalition Government is boosting funding for Rural Support Trusts to provide more help to farmers and growers under pressure, Rural Communities Minister Mark Patterson announced today. “A strong and thriving agricultural sector is crucial to the New Zealand economy and one of the ways to support it is to ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Latest data shows size of public service decreasing
    Spending on contractors and consultants continues to fall and the size of the Public Service workforce has started to decrease after years of growth, according to the latest data released today by the Public Service Commission. Workforce data for the quarter from 31 December 23 to 31 March 24 shows ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Speech to the Law Association
    Thank you to the Law Association for inviting me to speak this morning. As a former president under its previous name — the Auckland District Law Society — I take particular satisfaction in seeing this organisation, and its members, in such good heart. As Attorney-General, I am grateful for these ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • 25 years on, NZ reaffirms enduring friendship with Timor Leste
    New Zealand is committed to working closely with Timor-Leste to support its prosperity and resilience, Foreign Minister Winston Peters says.   “This year is the 25th anniversary of New Zealand sending peacekeepers to Timor-Leste, who contributed to the country’s stabilisation and ultimately its independence,” Mr Peters says.    “A quarter ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Inquiry requested into rural banking
    Promoting robust competition in the banking sector is vital to rebuilding the economy, Finance Minister Nicola Willis says.  “New Zealanders deserve a banking sector that is as competitive as possible. Banking services play an important role in our communities and in the economy. Kiwis rely on access to lending when ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Ministry for Regulation targets red tape to keep farmers and growers competitive
    Regulation Minister David Seymour, Environment Minister Penny Simmonds, and Food Safety Minister Andrew Hoggard have today announced a regulatory sector review on the approval process for new agricultural and horticultural products.    “Red tape stops farmers and growers from getting access to products that have been approved by other OECD countries. ...
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