web analytics

Brian Easton’s DL talk now online

Written By: - Date published: 1:27 pm, February 25th, 2009 - 33 comments
Categories: drinking liberally, economy - Tags:

easton-croppedFor those of you who missed Brian Easton’s recent talk on the recession at Drinking Liberally Wgtn (or just couldn’t hear over the rain) the papers are now up online.

It’s fascinating reading, if a little frightening. Part I on the world economy is here, and Part II on the New Zealand economy is here. Both are essential reading if want to understand how we got into this mess, and what it means for us here in New Zealand.

[Hat tip: Just Left]

UPDATE: Oh yeah, and before I forget, DL Wgtn is happening again tomorrow (Thursday) evening with guest speaker Grant Robertson. Topic is “No time for slash and burn: the future of public services in NZ”. 5.30pm, Southern Cross. And it’s inside this time so you won’t have to worry about the rain.

33 comments on “Brian Easton’s DL talk now online ”

  1. jbc 1

    Interesting reading.

    Surprised there was nothing in there about the huge consumer imbalance that has resulted from the very easy credit markets of the past decade or so. The so-called ‘bubble’ economy. The collapse was inevitable given the sustained consumer/producer imbalances.

    Now the credit pendulum has swung too far back the other way – but surely we don’t want to fix this by returning to the days of spending significantly more than we earn. Some serious lifestyle adjustment is needed for the hire-purchase / car-loan economies of the west.

  2. Ianmac 2

    As a person of low Economic skill, I was as usual impressed by Brian Easton’s explanation. What does it mean for me and mine? I don’t know nor can I guess whether it is wise to spend up large and keep the internal economy alive, or whether to contract my spending, or whether what I do will have no (collective) effect at all.
    Is our Govt’s cautious approach a good strategy?
    What happens if that $90 billion debt is not serviced?

    Oh. My brain hurts!

    • You mean the $90 billion in counterfeit money created out of thin air by private banksters charging us interest in real world wealth?

      I say to the Guillotine with the banksters and let’s take our money back where it belongs; with us and our legally elected representatives whom we will keep a serious eye on to do the right thing.

      It worked for the Dutch, the French and the Americans for a while and it’s time we cull the greedy lot back to bearable levels once again.LOL.

  3. Is it me … or does the name of the person who wrote the post no longer appear?

    I can still work out SP’s posts tho 🙂

    I do like the reply function tho.

    [lprent: Fixed. Default was incorrect. Had another malware intrusion this morning from a hole in wordpress 2.7.0. It was fixed in 2.7.1 so there was a rapid upgrade with the new version sitting on my dev system. Didn’t go quite as easily as I’d have liked….]

  4. Rex Widerstrom 4

    While normally I accord anyone with the title “economist” about as much credence as I do a witchdoctor, Brian Easton is the exception. And he’s just so good at explaining economics in a way that minimises the use of actual numbers (which aren’t my strong suit… just ask my bank).

    This talk should be required reading before anyone clicks through to a discussion about “the financial crisis”… and for a few journos before they write anything else about it.

    One thought kept recurring to me as I read about “toxic assets” amassed on banks’ balance sheets…

    We entrust things to people every day and we hold them to a high standard of accountability even if their intention was not criminal. If an airline pilot crashes his plane,or a schoolbus driver his bus and is found to have been in error there are consequences. They are expected to atone for the grief and suffering caused by their error – and, mostly, they accept that they must do so. They’re even gratified, in a way, to have some chance to step up and accept, and apologise for, their errors and the harm they’ve caused.

    Yet some bankers have, through sheer greed and recklessness, crashed our economy. Perhaps no one was killed (though a few more might starve or freeze to death I guess) but there is still a lot of suffering caused to a lot of people.

    But where are the consequences? If it’s good enough to expect there to be consequences for third strike offenders, why are governments the world over sending the message to bankers that it’s okay to over-reach and fail. Not just okay, but that we (the taxpayers) will insulate you from even the personal costs of failure (provided you accept a “reasonable” salary of US$500,000).

    I argue that we wouldn’t need “3 strikes” if consequences were made plainer sooner to more people. The same applies to money traders. Since we’ve failed to discipline them adequately for “minor” infractions where one or two companies or banks might have collapsed in the past (or even for the whole S&L fiasco) I really can’t understand why the opportunity is not being seized now – not even by nominally left wing leaders like Rudd or Obama – to impose consequences as a warning against future excesses.

    • Ianmac 4.1

      Yes Rex. Somehow the “Bank” is anonymous where the bus driver is that bloke with the dark glasses. (Just checking the reply button.)

    • Interesting questions Rex,

      You might find some answers here and here

      And a man by the name of F. William Engdahl, a specialist in Economics wrote a series of very readable articles about why we are in this predicament and why bankers do not have to worry about the consequences of their actions.

      And by the way, it wasn’t a couple of greedy individual bankers or “bad apples” as it were. It is a scam on a humongous scale. Each and every top Wall street and City banker is part and parcel of that system and that includes John Key

    • jbc 4.3

      Rex: “Yet some bankers have, through sheer greed and recklessness, crashed our economy.”

      Yes they have. And it’s not over yet (Eastern Europe…)

      My point above (which seems to have fallen on deaf ears) is that while the bankers had their feet planted on the credit “accelerator” the masses enjoyed the ride and lapped up that credit like there was no tomorrow.

      If the bankers had been conservative (drove the economy like granddad on his way to lawn bowls) then a large part of the economic miracle of the past decade would never have eventuated.

      The problem now is that even if the money is there; nobody wants to borrow it. If there’s a credit crisis then why haven’t those annoying telemarketers pushing cheap and easy loans put down their headsets for good?

      • Pascal's bookie 4.3.1

        “If the bankers had been conservative (drove the economy like granddad on his way to lawn bowls) then a large part of the economic miracle of the past decade would never have eventuated.”

        Given that the miracle turned out to be old fashioned prestidigitation, I’m not sure what your point is.

        (captcha is on fire: whether margins)

        • jbc 4.3.1.1

          prestidigitation. Indeed. [I confess I had to look that up]

          Perhaps I needed to be more explicit. To look at this as simply a banking/credit/borrowing problem seems to miss the greater predicament: that a lot of the borrowing (including what Easton mentions) is just “papering over” some fundamental imbalances.

          I’m not suggesting that any of Easton’s reasoning is wrong, but that it only describes a part of the problem we are facing.

          What I find more disconcerting than the banking crisis is that a fair proportion of the growth (in incomes and employment) may have been fueled by “financial steroids” peddled by these bankers.

          Even if the banks were all fixed and started behaving themselves, and if NZ found some new overseas lenders, then we would still have a big problem.

        • Travellerev 4.3.1.2

          Pb,

          and don’t forget that old double-shuffling, honey-fugling, hornswoggling and skullduggery”.LOL.

  5. He guys,

    You may have been off line a bit longer than you anticipated but the reply function is awesome. Nice for some sub-threads without feeling like you hijacked the whole thread. LOL

    Very curious how it will be used here.

    Cheers,

    Trav

    • lprent 5.1

      Yeah. There was outbreak of a malware intrusion this morning through a nice hole in 2.7. Upgraded using the development version. But had a few problems with double UTF8 coding.

      I’m still bringing things online…

      • Daveski 5.1.1

        God help me … I agree with Eve 🙂

        I find Drupal upgrades scary but straightforward. I gave up on manual upgrades of WordPress and now slum at wordpress.org.

        Good job on the upgrades – the functionality gets better each time.

        • lprent 5.1.1.1

          Don’t thank me. Thank the open source people. The only thing that I’ve got customized in here is the css on top of the k2 theme.

          The auto-upgrades on wordpress are getting pretty good.

  6. Ianmac 6

    Cannot access “ACT MP caught Out”. Is it me or everyone?

  7. Ooh oops I landed in purgatory I think.

  8. vto 8

    I been thinking on this for some long time now. The last few years I have been annoying people around me with one of my theories which was that the world was heading for another great depression – reasons: 1, the house of cards called the world of debt obligations which was so massive and complex, and 2, it is a natural cycle which can be seen throughout history. My pick was that it would occur sometime 2010 – 2015. Started a bit earlier (or did it?). Other part of the theory was that govts, due to politics, would try to arrest it but eventually fail – result, a double-bottomed bottoming.

    Anyway, plenty people said similar blah blah..

    My currently developing theory is that these toxic assets etc can best be dealt with by sudden and painful lancing. This again will be driven by politics. The risk to nation states across the world is high and rising – picture say an east european country, say a …ania, …via or …istan where the armed forces have always been somewhat removed from political control. They sense the time is coming for the removal of so-and-so politico. And they will have the ability to do so. Who will prevent them? Only the west imo. But will the west? And how? (politically and physically)(perhaps a time to be thankful for Russian brutality).

    Among other unrest.

    Western political systems will recognise that if they are not super strong then they too will get dragged down etc. Hence one part of the appetite for a massive lancing of the boil that is toxic assets and other such creatures. Public will appreciate and understand the strength, despite massive splattering from the toxic boil, and get behind some new structures etc.

    … It is a developing theory and those a few random strands that I haven’t yet completely weaved …

    Bringing those strands to Mr Easton’s points one such area that stuck out for such a lancing could be “it also includes equities owned overseas, corporate and personal debt, trade credit and host of other sorts of liabilities.” Clearly the consequences would be massive. And worldwide. But perhaps a ‘wiping of the slate’ is the only way …

    to be continued…

    captcha: organize industry (there is definitely a wee gnome somewhere making these up)

    • vto,

      That is an interesting opening for debate.

      I would like to point your attention towards point 2 you bring up; the fact that there is apparently a natural cycle. Sort of like what goes up must come down and there is nothing you can do about it. A mysterious financial force of nature. Something none of the smarty pants who regulate our financial world know how to deal with. And above all something we just have to endure and live through.

      That doesn’t sit well with me. This is for various reasons

      1/ Money is man made. It is issued somewhere, somehow and for some reason sometimes more money is issued that there is in existence and based on mathematical issues that have no bearing on real world wealth and all of a sudden for some reason that money disappears.

      2/ When that money disappears it is always the poor and the middle class who get poorer and the upper class and the rich get richer. (A generalisation but you get my drift)

      3/ When the world drifts into a recession and god forbid into a depression it always seems to coincide with wars and destruction based on strange ideologies which leave entire continents destroyed in their wake and millions upon millions of people dead.

      4/ The only people who never seem to be affected by this somehow unmanageable financial cycle are the people managing our financial world. They just get richer and richer.

      You see if these financial giants where like us they would be, like us, fallible and there would be, like in our lives, sometimes unpleasant consequences if they made stupid decisions.

      You grow to fast in your business and get over extended you might go bankrupt, you cheat on your partner he/she kicks you out the door, you cheat on your tax return and they find out you get done, the list is endless.

      When you’re a banker and I mean not your average commercial banker who lends some money to a business and hopes to see that money back with some interest but one of your really big behind the scenes Money Masters that never seems to happen.

      One case in point is for example something that happened with Merrill Lynch and the LTCM hedgefund, the first fund too “big to fail“. (Accidentally the collapse of this hedgefund was the reason that John Key had to fire hundreds of his colleagues earning him the name of the “Smiling Assassin”)

      the LTCM hedgefund was heavily involved in manipulating the Asian Currencies and the Russian Rouble causing both the Asian and the Russian Crisis and when it collapsed as a result it was bailed out by amongst others Merrill Lynch under supervision of the Federal Reserve.

      One theory as to why this happened was stupidity and greed but another is that the LTCM hedgefund was used to break the independence of the Asian currencies (Which where bailed out by the IMF with serious conditions attached to it and which by many in those countries is experienced as a form of colonisation) and the Russian Rouble (Russia also had to accept IMF aid and equally heavy conditions). This opened up those currencies to massive speculation and made Wall street very happy thank you.

      By the way you are aware that John Key’s speciality was the Asian financial market and Over-The-Counter derivatives or OTC’s don’t you and that at the time of the events with the LTCM he was both the head of foreign Exchange and the European head for Bonds and Derivatives and that after he successfully aided and abetted Merrill Lynch in their endeavours with the LTCM he was invited as one of only four advisors to the Federal Reserve of New York for the Foreign Exchange committee.

      A position held three years previous by Robert Rubin, (AIG Trading)

      Another major player in this hedgefund was, by the way, a man called George Soros, the same man who just paid $ 30.000 to help finance a debate about New Zealands drug laws prepare Kiwi’s for financial intervention by big money now that the Election law has been repealed. (I bet him and John Key are old mates seeing as they both know a lot about speculation in Asian currencies.)

      Seeing as there were no consequences for the banks involved in the LTCM hedgefund stupidity is not what comes to the fore in my mind.

      According to this article it was the first time that Alan Greenspan and the Federal Reserve of New York bailed out a group of banks and a hedgefund sending a message to the banksters that no matter how hard they gambled they’d always be bailed out.

      Interesting eh?

  9. Pascal's bookie 9

    By ‘lancing’ you mean what?

    By ‘wiping of the slate’ are you suggesting a biblical jubilee style debt forgiveness type of thing?

    Edit: Meant to say. interesting comment. ta.

    I’d be worried first and foremost about Mexico on the failed state watch list. 3 news actually ran a bit tonight on what is probably the most underreported story of the last couple of years. Essentially the drug cartels are running the border states. They probably outgun the govt, and certainly out-finance them. It is a war, on a par with Iraq. If Mexico collapses, you will have millions of refugees heading for the US over land border, with news coverage 24/7.

    • vto 9.1

      In some form or other yes. But not ‘forgiveness’. It is partially underway already with the idea of govts buying up the toxic assets (pretty much for simple disposal in a safe fashion), so perhaps simply a ramping up of that approach. In a big way. Perhaps probably coordinated between govts.

  10. rave 10

    Easton is just producing the usual liberal hashup of the crisis. Its about financiers out of control and the need to regulate them with some form of revived Keynesian state management of the economy. Well that’s already happening except the bankers are managing the state managing the economy. The state is subsidising the losses of the capitalists with the future income generated by workers. Its advancing our pensions to pay their profits. So state management is no answer. Nationalisation under workers control (not Gordon Browns) is the answer.

    The reason Easton doesnt come up with a workable answer is that he doeasnt ask the important question. He doesnt address the question as to why such a huge amount of finance was invested in assets which proved to be worthless. Capitalists normally invest in real assets to produce value (employing workers to create the value). How come all of a sudden they invest in assets which have a vastly overinflated value compared to their cost of production?

    The only feasible explanation is that the productive system seized up and the surplus capital had to find new outlets to make a profit. This capital was invested in buying and selling existing assets thus driving up their value out of all proportion to their actual value. The bubbles that resulted were bound to burst. Should we pay for this speculative crisis? No! Let the bastards that made their profits out of driving up the prices of housing and who are ducking for cover and putting the cost of their crisis on to the backs of workers pay for it.

    The uprisings in Greece, and Gaudeloupe, and the big strikes in France and Italy are only the beginning of the refusal of workers to pay for the çapitalists crisis. We will not allow them to sack us, criminalise us, shoot us, and otherwise shit on us because it is their rotten system that is falling down.

    Auckland Protest against the 90 day Act where the bosses are lining us up a cheap labour reservoir for their Jobs Summit plans to save their skins by flogging ours…

    Aotea Square Saturday 12 noon.

    Years ago Rosa Luxemburg said we face a choice between socialism and barbarism. Recently Istvan Meszaros said: barbarism if we are lucky.

    Here’s a Marxist talk by Meszaros on the current crisis if anyone is interested:
    http://welcometotheneworldisorder.wordpress.com/2009/02/25/istvan-meszaros-the-new-crisis-of-capitalism-30mins/

  11. rave 11

    Here’s an interesting quote from a COUNTERPUNCH article:
    http://www.counterpunch.org/
    “How the economy was lost” by Paul Craig Roberts Feb 24th.

    “The bald fact is that the combination of ignorance, negligence, and ideology that permitted the crisis to happen still prevails and is blocking any remedy. Either the people in power in Washington and the financial community are total dimwits or they are manipulating an opportunity to redistribute wealth from taxpayers, equity owners and pension funds to the financial sector.”

    Which is it? Dimwits or manipulators?

    How better to manipulate while appearing a dimwit. Sound familiar?

  12. higherstandard 12

    Very good article Rave………. I suspect the answer is ‘dimwit’ as the author says in relation to the US economy.

    “our best hope is that the rest of the world is even less competent and even in deeper trouble”

    • Hs,

      Paul Graig Roberts is is an economist and a nationally syndicated columnist for Creators Syndicate. He served as an Assistant Secretary of the Treasury in the Reagan Administration earning fame as the “Father of Reaganomics”. He is a former editor and columnist for the Wall Street Journal, Business Week, and Scripps Howard News Service. He is a graduate of the Georgia Institute of Technology and he holds a Ph.D. from the University of Virginia. He was a post-graduate at the University of California, Berkeley, and Oxford University where he was a member of Merton College.

      In 1992 he received the Warren Brookes Award for Excellence in Journalism. In 1993 the Forbes Media Guide ranked him as one of the top seven journalists in the United States according to Wikipedia.

      He is also a lifelong Republican and one of our foremost spokespersons in our quest for a new and independent investigation into the events of 911.

      He is very much of the opinion that stupidity and ignorance are not what is driving the economic collapse. Why don’t you google his name and educate yourself a little now that you have read one of his pieces.

  13. RedLogix 13

    Roberts makes considerable mention of the negative consequences of ‘offshoring’ jobs from the USA.

    I have read endless tributes to Wal-Mart from “libertarian economists,’ who sing Wal-Mart’s praises for bringing low price goods, 70 per cent of which are made in China, to the American consumer. What these “economists’ do not factor into their analysis is the diminution of American family incomes and government tax base from the loss of the goods producing jobs to China. Ladders of upward mobility are being dismantled by offshoring, while California issues IOUs to pay its bills. The shift of production offshore reduces US GDP. When the goods and services are brought back to America to be sold, they increase the trade deficit. As the trade deficit is financed by foreigners acquiring ownership of US assets, this means that profits, dividends, capital gains, interest, rents, and tolls leave American pockets for foreign ones.

    Not of course to be outdone, any bungle the Yanks can do, we can do better:

    http://www.stuff.co.nz/4860134a13.html

    Only the Greens opposed the FTA with China.

    • rave 13.1

      Except that Americans now own a large part of the world economy. There is no “offshore” anymore.
      And everyone else pays for US indebtedness because it prints the world money and has the biggest guns. Globalisation has meant that the US is now a global economy and the US domestic economy is an anachronism. The US is the only economy in the world whose “protectionism” means a protection racket for the globe, not its own borders. Obama is going to kill the subsidies to US agribusiness and beef up the military “protection” of its oil interests in Asia. The US IS the world economy. It has China and Russia in its sights.
      NZ on the other hand with a bankster running it is just part of that US global economic empire. Its always been an entry in the ledger of some imperialist bank. Now its only a matter of which US bank survives to run us. What is your pick? My pick is BOA. Ask John.

  14. vto 14

    busy day, but one other thing to add to the mix…

    The so-called bubble economy was not in fact such a bubble. All the procudtion actually produced. Mankind produced numerous house, mansions, boats and yachts and ships, ferraris and suv’s and corollas. Everyone was gainfully employed and things were ctually physically made. It was a reality. A physical reality that still exists today.

    I think it should be borne in mind that if anything the bubble is on the downside. Now. ffs, houses are selling so far below the cost of replacement that if anything is surreal it is this current ‘value’ placed on houses. Over the longer term value must equal cost. At the moment it is more out of wack than it was on the upside.

  15. BLiP 15

    Rave said:

    ” . . . Except that Americans now own a large part of the world economy. There is no “offshore’ anymore. . . . ”

    I would say China pretty much owns the USA. China need only call in its loans and the yanks would have to go to war or start digging up Wall Street for a veggie patch.

    • rave 15.1

      China has a large chunk of US treasury bonds. But if it suddenly tried to sell the bonds back what would be the result? A massive fall in the US dollar which would devalue the bonds considerably, and a similar revaluation of the RMB and consequent loss of exports to US much greater than is already happening.
      Why would China cut its own throat?

Links to post

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
    17 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