web analytics

Buffett calls for rich to stop class war

Written By: - Date published: 2:04 pm, August 16th, 2011 - 53 comments
Categories: capital gains, class war, tax - Tags:

Today Warren Buffett, the third wealthiest man in the world, has come out demanding his mega-rich friends play a part in the American economic recovery. He is recognised as one of the smartest and most successful investors alive, his words should not be dismissed lightly, especially as we approach our own election and grapple with the issue of tax reform.
Here are some highlights:
While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks.

Last year my federal tax bill — the income tax I paid, as well as payroll taxes paid by me and on my behalf — was $6,938,744. That sounds like a lot of money. But what I paid was only 17.4 percent of my taxable income — and that’s actually a lower percentage than was paid by any of the other 20 people in our office. Their tax burdens ranged from 33 percent to 41 percent and averaged 36 percent.

Back in the 1980s and 1990s, tax rates for the rich were far higher, and my percentage rate was in the middle of the pack. According to a theory I sometimes hear, I should have thrown a fit and refused to invest because of the elevated tax rates on capital gains and dividends.

I didn’t refuse, nor did others. I have worked with investors for 60 years and I have yet to see anyone — not even when capital gains rates were 39.9 percent in 1976-77 — shy away from a sensible investment because of the tax rate on the potential gain. People invest to make money, and potential taxes have never scared them off.

But for those making more than $1 million — there were 236,883 such households in 2009 — I would raise rates immediately on taxable income in excess of $1 million, including, of course, dividends and capital gains. And for those who make $10 million or more — there were 8,274 in 2009 — I would suggest an additional increase in rate.”

Rijab

53 comments on “Buffett calls for rich to stop class war”

  1. I’m looking forward to the article where he self-expropriates and gives it all back to the workers he has lived off all his life.

  2. No actually what he is saying is the following: “If we don’t give the plebs a few coins from our hideous decadent wealth their are going to revolt and they are going to make the killing of the wealthy during the French revolution look like a walk in the park and while during the French revolution you could still escape to England or the “New World” now there is no place to run!”

    • aerobubble 2.1

      Wealthy is supposed to be hard to make, tax cuts are for the feckless capitalists and
      all Buffet is saying is that Republicians are crybaby wimps. “Is Obama going to
      take away your tax cut, oh little baby don’t cry, it will make you a better man”.

    • Drakula 2.2

      Well let’s bring it on !!!!

      • Colonial Viper 2.2.1

        Yeah I’m getting impatient waiting for Société Générale or Bank of America to fail. Not long now, the egg timer is about done. Then its going to be a ride.

  3. I think that we should support Buffett in his proposal to increase taxation for the wealthy.  His comments are perfectly valid and it is good to see that even the wealthy realise that things are out of control.
     

  4. queenstfarmer 4

    Fair points, though I wonder if Mr Buffet will lead by example.

    It is notable that he is only calling for this at the end of his career, after amassing his fortune, and after pledging to give most of it away (which will decrease his taxable income to near zero anyway). I wonder if Buffet was calling for higher taxes at the time he made his first millions?

  5. randal 5

    wealth is not hard to make if you know how.
    Warren Buffet made his because his father was a stockbroker in Kansas and dealt in the wheat futures market.
    Warren Buffet learned it all from him.
    When his first wife left and he needed some pin money he made a few million in three mnths!!!!
    However Bufet says if he was put down in Afghanistan without a dollar he would be done for in a day so there yo go.
    Anyway the world has changed. rich people need more money because they know how much lyalty and kiss ass they can buy and thats al they care about. Its a Macworld now.
    all notions of doing public good have gone forever.

    • mik e 5.1

      Berlusconi seems to be listening. He is closing loopholes on tax dodgers and raising tax on the wealthy.Some one has figured out what is needed

      • aerobubble 5.1.1

        It is the rich who work hard and know how to put money to productive use and make it grow… …this is backwards, people who take risks with money and are rewarded by the free market by growth become rich (they don’t start rich), then they spend or throw caution to the wind to get even richer. But wealth is “concentrated in the hands of those who can’t or won’t spend it.” capitalism comes to a grinding halt, the churn in the economy ends, the poorest are denied the aspiration of getting rich because the wealthy do not believe they should ever loss money. Now its
        entirely possible for everyone to eat, get heath care, a roof over their heads when government regulates the market to stop hoarding of money and insure everyone has economic power. We in one of the transition, when the powerful are wrong, when the man in a street is a jerk who thinks how they made money yesterday will work tomorrow, or worse know they really didn’t make a heap of money yet told and lived like they did and can’t deal with the psychological reality that they really are a loser. Key has to make a personal choice, either to be a winner or one of the biggest losers, a choice that if he dithers the outcome to NZ will be worse quite unnecessarily. Unfortuately poor education, easy career, have left a hollow prima donna who wins by being nice and amenable, but hard nosed when it counts tackling the wrong problem (the poor). We need leaders who don’t know everything and ask, not jerks like Key or the petty rich, we need people with backbone to talk to the rich about their prolific negative behavior.

  6. Craig Glen Eden 6

    When a truly rich guy comes out with this it really makes you realize how gutless and self serving John the con Key is? Asset sales anyone!

    • queenstfarmer 6.1

      Partial asset sales, yes

      • tc 6.1.1

        Nope, partial allows minorities to dictate direction under NZ law (profits over network re-investment as one example) they’re better off in public ownership especially when we’ve a gov’t that delights in punching large holes in it’s revenue base.
        All this and the nats have no idea how to ensure mum and dad end up owning them beacuse they don’t care having already done the deals with their backers. Little surprise they’re more cashed up than ever.

        • queenstfarmer 6.1.1.1

          Then according to your theory (which is incorrect), it would be better for the Govt to sell majority stakes, because then the Govt would be a minority shareholder and be able to “dictate direction”.

          • McFlock 6.1.1.1.1

            Um, no – that would be arguing that it’s better to put your ‘nads AND dick on an anvil, rather than just your dick. My interpretation of tc’s comment is that no part of your anatomy should be placed on the anvil in the first place.

            • Colonial Viper 6.1.1.1.1.1

              Although out of all the reasons I’ve heard National give for selling this shit off, yours is by far the best. Put all his kit on the anvil and see how qstf likes it when the auction hammer comes down!!! 🙂

            • queenstfarmer 6.1.1.1.1.2

              Yes I know that’s his position (no partial asset sales at all – enough already about nads!). I’m pointing out the silliness (not to mention outright incorrectness) of the suggestion that minority shareholders “dictate direction” – a view repeated many times here, in ignorance of the law and commercial practice.

              Think about it: shareholder A = 51%; shareholder B = 49%. According to this view, Shareholder B has control. But shareholder A could simply gift 2% of shares to B, and in doing so A would now be the minority with control of the company.

              • McFlock

                qsf – what is a “fraud on the minority”?
                It’s  been mentioned here before, but I’m not a companies lawyer. Mickeysavage seems to believe that this might stop a company wasting money (dare I say “pissing it away”, to continue the analogy) on things like the community welfare if the govt still maintains 51% ownership. MS is normally pretty reasonable. So what’s your take on it?

                • queenstfarmer

                  From my involvement with in several sometimes fractious start-ups I have some experience in this area.

                  The Companies Act does not have “fraud on minority”. It has shareholder prejudice, which is similar but different. That includes things like paying dividends to some but not all shareholders, issuing new shares for under-value, etc. It does not allow the minority to “control the board” as some seem to think (that’s simply ludicrous – if that were the case, you could gain strength by reducing your shareholding) – it simply means you cannot unfairly target some shareholders over others. It’s mainly about process. As long as the Board acts procedurally fairly (lets everyone have their say, provides information requested etc) and can provide sound reasons for its actions, that is all it needs to do.

                  Directors personally have a range of duties, such as acting for proper purposes and not engaging in reckless trading, so a shareholder could complain that a director has breached their duties. That means suing the directors, not the company.

                  There are also minority buy-out rights that can allow an upset minority to force the company to buy back their shares for fair value, and then everyone goes their own separate ways.

                  • McFlock

                    S131: Duty of directors to act in good faith and in best interests of company

                    (1) Subject to this section, a director of a company, when exercising powers or performing duties, must act in good faith and in what the director believes to be the best interests of the company.
                    (2) A director of a company that is a wholly-owned subsidiary may, when exercising powers or performing duties as a director, if expressly permitted to do so by the constitution of the company, act in a manner which he or she believes is in the best interests of that company’s holding company even though it may not be in the best interests of the company.
                    (3) A director of a company that is a subsidiary (but not a wholly-owned subsidiary) may, when exercising powers or performing duties as a director, if expressly permitted to do so by the constitution of the company and with the prior agreement of the shareholders (other than its holding company), act in a manner which he or she believes is in the best interests of that company’s holding company even though it may not be in the best interests of the company.

                    So if the directors chose to build trains in NZ and save jobs at the expense of company funds, they would be breaking their obligations to the company unless the minority shareholders agreed? And the shareholders could sue their ass?

                    • queenstfarmer

                      Shareholders can sue directors at any time. It’s a just a question of whether they’ll win. You could buy 1 share in The Warehouse for $1.50 and try to sue Stephen Tindall if you wanted.

                      But it’s got nothing to do with what the shareholders think, nor is it an accounting issue. Directors are charged with management of the company (see section 128). The question is what “the director believes to be the best interests of the company”. So as long as the directors are subjectively confident they are acting in the best interests of the company (and of course the majority shareholder usually gets to appoint the most directors) then no claim is founded.

                    • McFlock

                      But the point is that if the sole shareholder [govt] stated that they wanted the directors to let the company take a hit for the wider economy, under a wholly owned subsidiary model they can issue such a direction. Under a majority ownership model this is not the case. You’re argument seems to be that if the government gets the directors to make the right winks and fibs, they’ll *probably* get away with it.
                       
                       

      • mik e 6.1.2

        At their value to earnings ratio not Half price or a third of the price for the power companies .Qstf. the power companies are cash cows returning 17.6% returns govt borrowing costs 5.5%.If you can’t figure out how dumb that is I can really believe you love sucking up to Keys failed policies

  7. Tiger Mountain 7

    Buffet is enunciating what keeps capitalists awake nights, their parasitic party is almost over. Pull your heads in a little bit guys! he is saying. But the basic marxist precepts remain, capital must expand aggressively, and ultimately monopolistically, driven by the tendency for the rate of profit to fall. Finance capital ever more a house of cards as the months tick by.

    Maybe not this year or the next, authoritarianism and widespread ideolgical malaise (individualism) may prolong things a little more but the planets resources and people can not take much more hammering.

  8. Rijab 8

    Obama’s response to Buffett’s suggestion, for those interested:

    http://www.businessinsider.com/obama-warren-buffett-is-right-on-taxes-2011-8

  9. Tom Gould 9

    Warren Buffett has been saying this for some time now, certainly before the GFC. This time, maybe because of the recent antics of the tea party whack-jobs, the MSM in the U.S. has finally heard him, or figured it might be worth reporting. Winds of change, perhaps?

  10. Colonial Viper 10

    Buffett plays the games in the markets as hard and as trickily as the next guy. He’s no saint.

    However, I don’t believe that he should donate to the IRS, as some of his detractors have been saying.

    Instead I think he should set aside an independent US$250M trust fund for those congressional candidates who refuse to take corporate campaign funds and who will push for progressive tax reform in the US.

    Edited: the US can close its entire budget deficit and more by going back to 1980 tax levels. Easy as pie.

    • QoT 10.1

      That idea is total genius.

      • Colonial Viper 10.1.1

        🙂

        And it should be a trust fund which supports both Republican and Democratic candidates. It might even extend support to promising independent candidates in order to break the two party stranglehold in the US.

    • queenstfarmer 10.2

      the US can close its entire budget deficit and more by going back to 1980 tax levels. Easy as pie.

      It’s as easy as people voting for politicians who will raise taxes. Until such time, it’s not going to be that easy.

      • Colonial Viper 10.2.1

        I’m hearing ya.

      • mik e 10.2.2

        Yeah in the 1980s the rich paid a larger share of the tax burden good idea Qstf why not tell your boss Key or Brash.Since then both private and govt borrowing has exponentially blown out bar a few short years 1994 till 2000. being the worlds fore most super power is the main reason the US has had massive budget deficits. the other reason is tax cuts for the rich by Reagon & the Bushes.Look at this weeks time magazine debt goes up when republicans are in power not unlike NZ under National.Berlusconi has figured it out its a wonder no other right whinger has yet.

        • queenstfarmer 10.2.2.1

          No dispute about that (except the “your boss Key or Brash” bit – you seem a bit obsessed and perhaps envious of my independence?), though I would add spending blowouts, which have contributed more to the debt than tax cuts have. Eventually all countries need to live within their means, and that means either cutting spending, or increasing taxes.

          • Colonial Viper 10.2.2.1.1

            The other thing to do is for governments to not borrow money at interest, but to print it free of interest and free of debt. The supply of money can then be directly tightened or loosened as economic circumstances and the economic cycle requires.

          • mik e 10.2.2.1.2

            Your dependence shines through Qstf like your masters you have forgotten how to grow an economy. the other solution!

        • Deadly_NZ 10.2.2.2

          Well lets hope that shonkey has lost a bundle on the bank of America taking a hammering his 55mil could be halved. Now there’s a really good excuse for a party!!

    • RedLogix 10.3

      It’s easy to forget that when Bill Clinton left office the US Federal govt was in a healthy surplus. Essentially it was GW Bush’s tax cuts and military spending that tipped the US into this crisis.

      We forget also that the US is still the world’s largest economy. It is not a poor or fundamentally unproductive country. Just three actions would eliminate this debt crisis remarkably quickly:

      1. Restore taxes to 1980 levels.

      2. Reduce their grossly bloated military exependiture.

      3. Reform their insanely wasteful and expensive health system.

      All three items are plain and obvious, yet politically none can happen.

      • Colonial Viper 10.3.1

        The US has lost perhaps four to five million manufacturing jobs since 2000.

        Yes, the US could still be extraordinarily strong but the jobs and know-how that their elites chose to export to China etc. are not returning.

        I’ve posted this before but its worth looking at. A talk to uni students given by a former head of the World Bank.

    • millsy 10.4

      Closing down the several hundred-odd military bases in Europe, Korea and Japan would help too.

  11. randal 11

    it that aint easy.
    there are calls that only people can make what ever the programme says.
    just as well.
    or we would be at the mercy of the machines.
    maybe we are already are?
    nah just kidding kiddies.
    but phil will win.

  12. Afewknowthetruth 12

    Here we go again. A whole load of commentary and comments which completely ignore the fundamentals.

    1. America, and Americans in general, got rich because easily extractable coal and oil suppported industrial growth, which supported everything else, including industrialised agriculture. Both oil and coal are past peak in the US.

    2. America remained rich because it was not devastated by wars, unlike most other developed nations.

    3. Americans got even richer because they were able to manipulate world markets and currencies using the dominance that resulted from the Second World War -Hollywood, the IMF and all that.

    4. Americans got rich because they trashed their environment somewhat faster than most others.

    All the games that made America superfically rich are over or rapidly coming to an end.

    In reality it was all just an impossible dream, a crass superficiality which is now turning into a nightmare.

    ‘play a part in the American economic recovery.’

    There will be no recovery of the economy, of course, only some kind of recovery from the economy.

    • neoleftie 12.1

      interestingly America has to ‘close the gaps’ between the developed and developing countries,in a global sense, to allow for both security and more importantly to expand the market.
      The western world needs fresh investment, growth and market opportunities or the bubble will burst…globalisation is simply exporting security and freeing up markets so the ruling elites can generate more wealth.
      Long live pax america.

      • Colonial Viper 12.1.1

        Not sure how to break this to you but you are more than 10 years late for delivering advice and the window has closed. 2005/2006 was probably the last chance for the US.

        interestingly America has to ‘close the gaps’ between the developed and developing countries,in a global sense, to allow for both security and more importantly to expand the market.

        America does not actually have to do any of the above. It is not up to America where markets expand (the growing middle classes in India and China). The developing countries are closing their own gaps as the US falls behind, and year by year, America is going to increasingly struggle to pay for its war machine.

        Some estimates say that China’s economy will be larger than the US before 2020.

        The western world needs fresh investment, growth and market opportunities or the bubble will burst…

        No you got it all wrong! In a capitalist system investment goes where the best growth and cost prospects are. That’s in Asia. The market opportunities are in Asia and the US is not positioned to benefit from them. NB most US headquartered multinationals build their goods outside of the US now. Even if all these Asian markets were to grow, very little of the benefit and the employment will actually occur in the US.

        Bubbles long burst. Watch the USD self destruct over the next few years.

        globalisation is simply exporting security and freeing up markets so the ruling elites can generate more wealth.

        You can’t export security. You can export weapons, and you can set up friendly regimes, but that is not the same thing.

        Globalisation was all about breaking down the power of sovereign states and advantaging capital over labour. “Freeing up markets” was not the objective, it was merely a means.

        • Bill 12.1.1.1

          Yup. There ain’t no ‘western world’ and ‘other world’ as far as global finance (ie global power) is concerned.

          Got to keep the kiddies believeing they’re on the ‘winning side’ for as long as poss. though, eh?

      • Afewknowthetruth 12.1.2

        neoleftie.

        May I suggest that you would do yourself a favour if you stopped parroting capitalist mantra. Growth is not the answer: growth is the problem. Captialists demand growth to prop up their fractional reserve monetary system. Growth is not possible in an energy-depleted, environmentally-degraded world which is past peak oil.

        I suppose if I were to say it every day for the next ‘x’ years people would eventually get it. I’m not sure that I have the time and energy to do that.

        The bubble is bursting and there is nothing that can be done to prevent it.

        The sensible thing to do would be to prepare for the inevitable, i.e. the collapse of western civilisation, the collapse of industrialised agriculture, and the food shortages that will accompany the collapse. Most people seem quite incapable of doing that, for some reason. Hence , most people will get ‘wiped out’ when the ‘tsunami’ eventually hits.

        .

  13. Jenny 13

    From my inbox;

    An email from Vaughn Gunson, tax justice campaigner, reporting on the ongoing political campaign to regain tax justice in this country.

    Hi Tax Justice supporters,

    On our website is a photo essay of the presentation of the Tax Justice petition to Parliament today. Go to http://www.nogstonfood.org/2011/08/16/598/

    There’s a good story on the NZ Herald website, go to http://www.nzherald.co.nz/politics/news/article.cfm?c_id=280&objectid=10745488

    We’ve had extensive radio coverage all day, with more interviews upcoming this afternoon.

    The petition hand-over may feature on either TV3 or TV1 News (or both) tonight.

    It’s been a good positive conclusion to this phase of the Tax Justice campaign, built around the petition and the hard work of volunteers around the country.

    There’s more work to do to build a broader Tax Justice coalition that can put pressure on the politicians to act in the interests of grassroots Kiwis.

    Regards,

    Vaughan Gunson
    Tax Justice campaign coordinator
    (09)433 8897
    021-0415 082

Recent Comments

Recent Posts

  • New Zealand First calls for tahr cull halt
    Mark Patterson MP, Spokesperson for Primary Industry New Zealand First is supporting calls by hunters and the New Zealand Tahr Foundation (NZTF) to halt a large scale cull of Himalayan Tahr by the Department of Conservation in National Parks. The calls are supported by a 40,000 strong petition and the ...
    3 days ago
  • Response to Spin-off allegations
    Rt Hon Winston Peters, Leader of New Zealand First New Zealand First leader Winston Peters today scoffed at suggestions that a team of six political operatives have been dispatched to New Zealand to assist his campaign. ‘As President Ronald Reagan once said, ‘there they go again.’ ‘The clickbait journos can’t ...
    3 days ago
  • Jenny Marcroft MP to represent New Zealand First in Auckland Central
    New Zealand First is pleased to announce Jenny Marcroft as the party’s election 2020 candidate for the Auckland Central electorate. Jenny spent years working in Auckland Central, having spent a vast proportion of her broadcasting career there. She says she, "knows the place and knows the people." Ms Marcroft says ...
    5 days ago
  • Creating jobs and cleaning up our rivers
    New Zealanders deserve healthy rivers and lakes that are safe to swim in - but they have been getting worse for decades. That's why, with our latest announcement, we're investing in projects that will help clean up our rivers and lakes and restore them to health, within a generation. ...
    5 days ago
  • Jacinda Ardern: 2020 Labour Congress Speech
    Jacinda Ardern's speech to the 2020 Labour Party Congress. ...
    5 days ago
  • Kelvin Davis: 2020 Labour Congress Speech
    Kelvin Davis' speech to the 2020 Labour Party Congress. ...
    6 days ago
  • Week That Was: Another week of major progress
    This week we moved into the second half of 2020 - and our Government delivered another week of big changes and major progress for New Zealanders. Read below for a wrap of the key things moments from the week - from extending paid parental leave, to making major investments in ...
    1 week ago
  • Green Party opposes RMA fast-track bill that cut corners on environmental safeguards and public cons...
    The Green Party has opposed the COVID-19 Recovery Fast-track Consenting Bill which shortcuts normal consenting processes under the Resource Management Act (RMA), reduces public participation and narrows environmental considerations. ...
    1 week ago
  • Site of new freight hub revealed
    Hon Shane Jones, Minister of Regional Economic Development A regional freight hub for the lower North Island will be built just northeast of Palmerston North, Regional Development Minister Shane Jones has announced. The Government is investing $40 million through the Provincial Growth Fund to designate and buy land and design ...
    1 week ago
  • Greens call for Guaranteed Minimum Income to alleviate skyrocketing debt with MSD
    Green Party Co-leader Marama Davidson is calling for the introduction of a Guaranteed Minimum Income to lift hundreds of thousands of people out of poverty and prevent more families entering into further debt with the Ministry of Social Development.  ...
    1 week ago
  • Winston Peters: Facts matter when taxpayer money is on the line
    There has been renewed focus on New Zealand First acting as a handbrake on the Government after our decision to not support Auckland light rail. We are a handbrake for bad ideas, that is true, but our track record since 2017 has seen New Zealand First constructively also serve as an ...
    1 week ago
  • Bill raising minimum residency requirement for NZ Super passes first reading
    Mark Patterson MP, New Zealand First List MP New Zealand First’s Fair Residency for Superannuation Bill passed its First Reading in Parliament today. The Bill makes a significant change to NZ Super by raising the minimum residency requirement from 10 to 20 years, after age 20. “Currently, a migrant of ...
    1 week ago
  • Harsher penalties for assaults on first responders one step closer
    Darroch Ball MP, Spokesperson for Law and Order A New Zealand First member’s bill in the name of Darroch Ball introducing a six-month minimum prison sentence for assaults on first responders has passed its second reading in Parliament. The new offence of "injuring a first responder or corrections officer with ...
    1 week ago
  • Criminal Cases Review Commission delivers Coalition promise
    Fletcher Tabuteau MP, Deputy Leader of New Zealand First New Zealand First welcomes the launch of the new Criminal Cases Review Commission, gifted with the name from Waikato-Tainui - Te Kāhui Tātari Ture, announced in Hamilton today by Justice Minister Andrew Little. “New Zealand First has long believed in and ...
    1 week ago
  • Greens welcome huge new investment in sustainable projects
    The Green Party is celebrating over $800m in new funding for green projects, which will get people into jobs while solving New Zealand’s long-term challenges. ...
    1 week ago
  • New Zealand First demands answers from Meridian Energy
    Mark Patterson MP, Spokesperson for Primary Industries New Zealand First is appalled that Meridian seems to have been unnecessarily spilling water from its dams to drive up its profits."While New Zealanders have been coming together in some of our darkest hours, we don’t expect power gentailers to waste water and ...
    1 week ago
  • Getting New Zealand moving again: June 2020
    We wrapped up the first half of 2020 with a busy month, taking additional steps to support New Zealanders as we continue with our economic recovery. We rolled out targeted packages to support key industries like tourism and construction, helped create jobs in the environmental and agriculture sectors, and set ...
    1 week ago
  • Māori union leader appointed to Infrastructure Commission board
    Hon Shane Jones, Minister for Infrastructure Infrastructure Minister Shane Jones has welcomed the appointment of Maurice Davis and his deep infrastructure and construction experience to the board of the Infrastructure Commission. Mr Davis (Ngāti Maniapoto), is the seventh and final appointment to the board led by former Reserve Bank Governor ...
    2 weeks ago
  • Click-bait journalism at its worst
    Rt Hon Winston Peters, Leader of New Zealand First New Zealand’s click bait journalism is taking a turn for the worse, with yet another example of sensationalist, wilful-misrepresentation of the facts. “New Zealand First has worked constructively with its Coalition partner on hundreds of pieces of legislation and policy, and ...
    2 weeks ago
  • Green Party proposes transformational Poverty Action Plan
    The Green Party is today unveiling its Poverty Action Plan, which includes a Guaranteed Minimum Income to ensure people have enough to live with dignity.     ...
    2 weeks ago
  • PGF accelerates Rotorua projects
    Rt Hon Winston Peters, Deputy Prime Minister Fletcher Tabuteau MP, Under-Secretary for Regional Economic Development The Rotorua Museum redevelopment and Whakarewarewa and Tokorangi Forest projects will be accelerated thanks to a $2.09 million Provincial Growth Fund (PGF) boost, Deputy Prime Minister Winston Peters and Under-Secretary for Regional Economic Development Fletcher ...
    2 weeks ago
  • Week That Was: Getting people into jobs
    This week, we rolled out the next steps of our recovery plan, with new infrastructure investment, extra support for tourism operators, and a new programme to get Kiwis into agriculture careers. The global economic consequences of COVID-19 will continue to be a challenge, but we have a detailed plan to ...
    2 weeks ago
  • Coalition commitment establishing Mental Health Commission delivered
    Jenny Marcroft MP, Spokesperson for Health New Zealand First welcomes the passage of the Mental Health and Wellbeing Commission Bill through its final reading in Parliament today fulfilling a coalition agreement commitment. “This is an important step in saving the lives of New Zealanders and delivers a key coalition commitment ...
    2 weeks ago
  • Whakatāne gets a $2.5m ‘turbo boost’
    Whakatāne has been given a $2.5 million boost to speed up previously funded projects and create more than 450 jobs in the next decade. Of those, the equivalent of 160 full-time jobs could be delivered in the next six weeks. Deputy Prime Minister Winston Peters is in town to make ...
    2 weeks ago
  • $2.5m PGF funding to speed up economic recovery in Whakatāne
    Rt Hon Winston Peters, Deputy Prime Minister Fletcher Tabuteau MP, Under-Secretary for Regional Economic Development The Provincial Growth Fund (PGF) is investing $2.5 million to accelerate three infrastructure projects in Whakatāne, Deputy Prime Minister Winston Peters and Under-Secretary for Regional Economic Development Fletcher Tabuteau announced today. “This package is about ...
    2 weeks ago
  • Shane Jones calls out those holding drought-stricken Auckland ‘to ransom’ over water
    Infrastructure Minister Shane Jones is throwing his weight behind a bid by the Auckland Council to fast-track the more than doubling of the city's water allowance from the Waikato River. And he's coming out strongly against anyone who plans on getting in the way of this campaign. "It is my ...
    2 weeks ago
  • Another Green win as climate change considerations inserted into the RMA
    The Green Party is thrilled to see changes to the Resource Management Act (RMA) that mean consents for large projects can be declined if they will have significant climate change implications that are inconsistent with the Zero Carbon Act and Aotearoa New Zealand’s Paris Agreement obligations.  ...
    2 weeks ago
  • New Navy vessel Aotearoa to arrive in New Zealand
    Hon Ron Mark, Minister of Defence The Royal New Zealand Navy’s new ship, Aotearoa, set sail for New Zealand on 10 June from the Republic of Korea, and is due to arrive in Auckland tomorrow, announced Minister of Defence Ron Mark. “Aotearoa is the Royal New Zealand Navy’s new fleet ...
    2 weeks ago
  • Racing Industry Bill passes third reading
    Rt Hon Winston Peters, Deputy Prime Minister, Minister for Racing Racing Minister Winston Peters has today welcomed the Racing Industry Bill passing its third reading, creating the legislative framework for revitalising the racing industry while limiting the need for future government intervention. “For too long our domestic racing industry has ...
    2 weeks ago
  • Green Party seek amendment to ensure all prisoners can vote
    The Green Party has today put forward an amendment to the Electoral (Registration of Sentenced Prisoners) Amendment Bill to ensure all people in prisons can vote in general elections. ...
    2 weeks ago
  • Green Party welcomes new approach to delivering light rail
    The Green Party welcomes the decision to not proceed with Public Public Investment (PPI) delivery of Auckland’s light rail project and to instead run the process through the public service. ...
    2 weeks ago
  • New Zealand First welcomes PGF investment in Wairarapa Water
    Hon Ron Mark, New Zealand First List MP based in the Wairarapa New Zealand First List MP Hon Ron Mark welcomes the announcement of Provincial Growth Funding investment of $1.4 million to help secure the Wairarapa’s water supply. The funding boost will allow the Greater Wellington Regional Council (GWRC), and ...
    2 weeks ago
  • New Zealand First MP Mark Patterson selected as candidate for Taieri
    New Zealand First list MP Mark Patterson has been selected to represent the party in the newly formed Taieri electorate at the upcoming election. Mr Patterson, his wife Jude and two daughters farm sheep and beef at Lawrence and Waitahuna. He previously stood in the Clutha-Southland electorate however boundary changes ...
    2 weeks ago
  • Ground-breaking on NZ Post depot
    Hon Shane Jones, Associate Minister for State Owned Enterprises A new ‘super depot’ to be built for NZ Post in Wellington will create around 350 jobs during construction, Associate Minister for State Owned Enterprises Shane Jones says. Shane Jones today attended a ground-breaking and blessing ceremony for the parcel-processing depot ...
    3 weeks ago
  • Week That Was: Putting our economic plan into action
    Our strong economic management prior to COVID-19 - with surpluses, low debt and near-record-low unemployment - put us in a good position to weather the impact of the virus and start to rebuild our economy much earlier than many other countries. Now we're putting our plan to recover and rebuild ...
    3 weeks ago
  • Fleeing drivers hit new record-high yet again
    Darroch Ball MP, New Zealand First Spokesperson for Law and Order Recently released Police fleeing driver statistics have shown yet another increase in incidents with another record-high in the latest quarter. “This new quarterly record-high is the latest in a string of record-high numbers since 2014.  The data shows incidents ...
    3 weeks ago

  • Gang crime, meth harm targeted in Waikato
    The Minister of Police says a major operation against the Mongrel Mob in Waikato will make a big dent in drug harm and violent offending linked to organised crime networks. “Senior leadership of the Waikato Mongrel Mob has been taken out as a result of Operation Kingsville, which resulted in ...
    BeehiveBy beehive.govt.nz
    11 hours ago
  • Supporting victims and families to attend mosque attack sentencing
    The Government is extending the border exception criteria to enable some offshore victims and support people of the Christchurch mosque attacks to attend the sentencing of the accused beginning on 24 August2020, says Immigration Minister Iain Lees-Galloway. “We want to support our valued Muslim brothers and sisters who were directly ...
    BeehiveBy beehive.govt.nz
    11 hours ago
  • Boost for community freshwater restoration projects
    A project to support volunteer efforts to look after streams and rivers is getting a boost thanks to support from DOC’s Community Conservation Fund announced Minister of Conservation Eugenie Sage today.  “The government is backing efforts to look after waterways with $199,400 for the Mountains to Sea Conservation Trust from ...
    BeehiveBy beehive.govt.nz
    12 hours ago
  • More support for women and girls
    Minister for Women Julie Anne Genter today announced that funding for the COVID-19 Community Fund for women and girls will be doubled, as the first successful funding applications for the initial $1million were revealed. “Women and girls across the country have suffered because of the effects of COVID-19, and I ...
    BeehiveBy beehive.govt.nz
    14 hours ago
  • Crown accounts stronger than forecast with higher consumer spending
    The Government’s books were better than forecast with a higher GST take as the economy got moving again after lockdown, Finance Minister Grant Robertson says. The Crown Accounts for the 11 months to the end of May indicate the year end results for tax revenue will be stronger than forecast. ...
    BeehiveBy beehive.govt.nz
    16 hours ago
  • Govt releases plan to revitalise wool sector
    A plan to revitalise New Zealand’s strong wool sector and set it on a new, more sustainable and profitable path was unveiled today by Agriculture Minister Damien O’Connor. The newly-released report - Vision and Action for New Zealand’s Wool Sector - was developed by the Wool Industry Project Action Group ...
    BeehiveBy beehive.govt.nz
    16 hours ago
  • Funding for Predator Free Whangārei
    Community efforts to create a Predator Free Whangārei will receive a $6 million boost, Regional Economic Development Minister Shane Jones and Conservation Minister Eugenie Sage announced today. The new funding, through Government company Predator Free 2050 Ltd, will create around 12 jobs while enabling the complete removal of possums over ...
    BeehiveBy beehive.govt.nz
    17 hours ago
  • New Zealand to review relationship settings with Hong Kong
    Foreign Affairs Minister Winston Peters has announced that the New Zealand Government is reviewing the settings of its relationship with Hong Kong. “China’s decision to pass a new national security law for Hong Kong has fundamentally changed the environment for international engagement there,” Mr Peters said. “New Zealand remains deeply ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Funding for Whangārei’s infrastructure projects revealed
    Regional Economic Development Minister Shane Jones has announced details of a multimillion-dollar investment in Whangārei for infrastructure projects that will help it recover from the economic fallout from the COVID-19 pandemic. More than 200 jobs are expected to be created through the $26 million investment from the Government’s rejuvenation package ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Managed isolation and quarantine update
    Following a second incident in which a person escaped from a managed isolation facility, security is being enhanced, including more police presence onsite, Minister Megan Woods said. “The actions of some individuals who choose to break the very clear rules to stay within the facilities means that more resourcing is ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Funding for Kaipara district community waste programmes
    Waste reduction and recycling programmes in Kaipara are set to get a boost with Associate Environment Minister Eugenie Sage today announcing a $361,447 grant from the Ministry for the Environment’s Waste Minimisation Fund (WMF) Sustainable Kaipara. “The new funding will allow Sustainable Kaipara to partner with local schools, kura, community ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Government will support the people and economy of Southland
    The Government will support the Southland economy in the wake of multinational mining company Rio Tinto’s decision to follow through with its long signalled closure of the Tiwai Point aluminium smelter. “This day has unfortunately been on the cards for some time now, but nevertheless the final decision is a ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • New transformational tools for the Predator Free 2050 effort
    New tools being developed to help boost Aotearoa’s Predator Free 2050 effort were unveiled today by Minister of Conservation Eugenie Sage and Under Secretary for Regional Economic Development Fletcher Tabuteau. A new rat poison, a camera with predator recognition software to detect and report predators, a new predator lure and a ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • New Armoured vehicles for New Zealand Army
    The Coalition Government has approved the purchase of a fleet of Bushmaster vehicles to replace the New Zealand Army’s armoured Pinzgauers, Defence Minister Ron Mark has announced today. The new fleet of 43 Australian-designed and built Bushmaster NZ5.5 will provide better protection for personnel and improved carrying capacity. “The age ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Community-led solutions to prevent family violence
    The Government’s three prevention frameworks to reduce family violence in Aotearoa were launched this week by Associate Minister for Social Development Poto Williams.   The frameworks were developed in partnership with communities around New Zealand, and build on the work the Government has already begun with its new family violence prevention ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Govt confirms investment in better radiology and surgical services for Hawke’s Bay
    The Government is pleased to confirm funding for improvements to radiology and surgical services at Hawke's Bay DHB, Health Minister Chris Hipkins says.     "The Minister of Finance the Hon Grant Robertson and former Health Minister Dr David Clark approved funding for Hawke's Bay DHB’s redevelopment of their radiology facilities ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Specialist alcohol and drug addiction services strengthened across New Zealand
    •    New funding for four beds at Napier’s Springhill Residential Addiction Centre •    A new managed withdrawal home and community service, and peer support before and after residential care at Tairāwhiti DHB  •    A co-ordinated network of withdrawal management services throughout the South Island •    Peer support in Rotorua and ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Coastal Shipping Webinar
    Introduction, seafarers and POAL Good morning everyone, I am delighted to be online with you all today. Before I begin, I have to acknowledge that COVID-19 has disrupted the maritime sector on an unprecedented scale. The work of seafarers and the maritime industry is keeping many economies around the world ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Support for resilient rail connection to the West Coast
    A $13 million investment from Government will create jobs and improve the resilience of the rail connection between Christchurch and the West Coast, Infrastructure Minister Shane Jones and Regional Economic Development Under-Secretary Fletcher Tabuteau say. The funding comes from the tagged contingency set aside in Budget 2020 for infrastructure projects ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Major investment in safe drinking water
    The Government is investing $761 million to assist local government upgrade under-pressure water services across the country, Prime Minister Jacinda Ardern and Local Government Minister Nanaia Mahuta announced today.  The announcement was made at the site of the water bore that was found to be the source of the fatal ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Supporting stranded seasonal workers to keep working with more flexible options
    Recognised Seasonal Employers and migrant seasonal workers stranded in New Zealand will be able to continue working and supporting themselves with more flexible hours and roles, says Immigration Minister Iain Lees-Galloway. The time-limited visa changes are: Stranded RSE workers will be able to work part-time (a minimum of 15 hours ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Relief for temporary migrants, employers and New Zealanders who need work
    The Government is making immediate short-term changes to visa settings to support temporary migrants already onshore in New Zealand and their employers, while also ensuring New Zealanders needing work are prioritised, Immigration Minister Iain Lees-Galloway says. We are: Extending temporary work visas due to expire by the end of 2020 ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Freshwater commissioners and fast-track consenting convenor appointed
    Professor Peter Skelton CNZM has been appointed as Chief Freshwater Commissioner and Alternate Environment Court Judge Craig James Thompson as Deputy Chief Freshwater Commissioner for the newly established Freshwater Planning Process (FPP). Environment Minister David Parker today also announced the appointment of Chief Environment Court Judge Laurie Newhook as the ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Appointment of Judge of the High Court
    Auckland Queen’s Counsel Neil Campbell has been appointed a Judge of the High Court, Attorney‑General David Parker announced today. Justice Campbell graduated with a BCom and LLB (Hons) from the University of Auckland in 1992. He spent two years with Bell Gully Buddle Weir in Auckland before travelling to the United ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Feedback sought – Commercial Film and Video Production Facilities
    The Associate Minister for Greater Christchurch Regeneration, Poto Williams, is seeking feedback on a proposal to better enable the development and operation of commercial film and video facilities in Christchurch. The Proposal, developed by Regenerate Christchurch in response to a request from Christchurch City Council, asks that powers under section ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Govt launches bold primary sector plan to boost economic recovery
    The Government has launched a bold plan to boost primary sector export earnings by $44 billion over the next decade, while protecting the environment and growing jobs. Prime Minister Jacinda Ardern today released Fit for a Better World – Accelerating our Economic Potential, a 10-year roadmap to unlock greater value ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Wellbeing of whanau at heart of new hub
    A new approach to prevent family harm that encourages greater collaboration across government and community groups is being celebrated at the opening of a new facility in Auckland. Prime Minister Jacinda Ardern today opened the Multi-Disciplinary Family Harm Prevention Hub Te Taanga Manawa in Lambie Road in Manukau. The facility ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • New Report on Auckland Port Relocation
    The Government has released a major new report on the options for relocating the Port of Auckland’s freight operations while deferring any decision on the issue. “That decision needs to be informed by policy analysis that is still to be completed. As a result it will be up to a ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Dual place names for Te Pātaka-o-Rākaihautū / Banks Peninsula features
    The history of Rāpaki is being restored through the inclusion of te reo in thirteen official place names on Te Pātaka-o-Rākaihautū / Banks Peninsula and around Lyttelton Harbour/Whakaraupō, the Minister for Land Information, Eugenie Sage, announced today.   “I am pleased to approve the proposals from Te Hapū o Ngāti ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Government and Air New Zealand agree to manage incoming bookings
    Bookings for seats on Air New Zealand flights into New Zealand will be managed in the short term to ensure the Government is able to safely place New Zealanders arriving home into a managed isolation or quarantine facility, says Housing Minister Megan Woods.  “Last week Air Commodore Darryn Webb and I ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • $80 million for sport recovery at all levels
    Grant Robertson has today announced the first major release of funding from the $265 million Sport Recovery Package announced at Budget 2020.  “Today we’re setting out how $80 million will be invested, with $54 million of that over the 2020/2021 financial year for organisations from community level through to elite ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Keeping ACC levies steady until 2022
    The Government is maintaining current levy rates for the next 2 years, as part of a set of changes to help ease the financial pressures of COVID-19 providing certainty for businesses and New Zealanders, ACC Minister Iain Lees-Galloway says. “New Zealanders and businesses are facing unprecedented financial pressures as a ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Extended loan scheme keeps business afloat
    Small businesses are getting greater certainty about access to finance with an extension to the interest-free cashflow loan scheme to the end of the year. The Small Business Cashflow Loan Scheme has already been extended once, to 24 July. Revenue and Small Business Minister Stuart Nash says it will be ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • New investment creates over 2000 jobs to clean up waterways
    A package of 23 projects across the country will clean up waterways and deliver over 2000 jobs Prime Minister Jacinda Ardern and Environment Minister David Parker announced today. The $162 million dollar package will see 22 water clean-up projects put forward by local councils receiving $62 million and the Kaipara ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Speech to Labour Party Congress 2020
    Tena koutou katoa  Nga tangata whenua o tenei rohe o Pōneke, tena koutou Nau mai, haere mai ki te hui a tau mo te roopu reipa Ko tatou!  Ko to tatou mana!  Ko to tatou kaupapa kei te kokiri whakamua  Tena koutou, tena koutou, tena tatou katoa   Welcome. I ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • PGF top-up for QE Health in Rotorua
    The Provincial Growth Fund (PGF) is investing $1.5 million to ensure QE Health in Rotorua can proceed with its world class health service and save 75 existing jobs, Under Secretary for Regional Economic Development, Fletcher Tabuteau announced today. The PGF funding announced today is in addition to the $8 million ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Building a more sustainable construction sector
    A new programme, which sets a firm course for the Building and Construction sector to help reduce greenhouse gas emissions, has been announced by the Minister for Building and Construction Jenny Salesa. “A significant amount of New Zealand’s carbon emissions come from the building and construction sector.  If we’re serious ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • PGF funds tourism boost in Northland
    The Provincial Growth Fund is investing more than $7.5 million in Northland ventures to combat the economic impact of the COVID-19 virus, Deputy Prime Minister Winston Peters and Regional Economic Development Minister Shane Jones have announced. The Provincial Growth Fund (PGF) investment is going to the Northern Adventure Experience and ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Four new projects announced as part of the biggest ever national school rebuild programme
    Prime Minister Jacinda Ardern and Education Minister Chris Hipkins today announced significant funding for Auckland’s Northcote College as part of the first wave of a new nationwide school redevelopment programme to upgrade schools over the next 10 years. The $48.5 million project brings the total investment in Northcote College to ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • COVID-19: Support to improve student attendance and wellbeing
    The Government has opened an urgent response fund to support schools and early learning services to get children and young people back on track after the Covid-19 lockdown. “While we are seeing improvements in attendance under Alert Level 1 Ministry of Education data shows that attendance rates in our schools ...
    BeehiveBy beehive.govt.nz
    1 week ago