Buttered Bread

Written By: - Date published: 11:20 am, February 6th, 2018 - 84 comments
Categories: capitalism, class war, Economy, International, the praiseworthy and the pitiful - Tags: , , ,

A New York Times headline exclaims “Stocks Fall as Sell-off Enters Second Week.

The Guardian screeches  “Dow Jones Suffers Worst Day in Over Six Years as Global Stock Markets Fall.”

The Washington Post gasps  “Dow closes down nearly 1,200 points after plunging more than 1,500 points in volatile trading”

And “Dow Jones hit by biggest single-day points drop ever”, wails The Independent

So, y’know, the sky’s falling in. And one ought to show appropriate concern. (Pictures accompanying mainstream reporting will point you in the right direction if it’s all a bit over your head.)

And one of the reasons posited for this calamitous event?

Well, in among all the arm waving and finger pointing we have this in the Guardian piece –

The plunge, initially triggered by fears that strong US employment numbers would lead to wage demands…

And this in the Washington Post piece –

Friday’s markets went tumbling on good economic news as the Labor Department reported a 2.9 percent increase in hourly earnings.

Capitalism. Gotta love it.

No. You’ve got to.

84 comments on “Buttered Bread ”

  • Comments are now closed

  1. Incognito 1
    6 February 2018 at 11:46 am

    Given that the bots & algorithms that now dominate “real-time high-speed trading markets” were designed by humans I believe they have ‘inherited’ the human propensity for feeling fear 😉

  2. dv 2
    6 February 2018 at 11:48 am

    This is disgraceful.

    https://www.theguardian.com/business/2018/feb/05/pressure-grows-on-dpd-and-theresa-may-after-courier-dies-of-diabetes

    Matthew Taylor said the government must urgently address poor quality work in Britain after the Guardian revealed how Don Lane, a 53-year-old father of one, collapsed and died from diabetes after being fined £150 by the courier company for attending a hospital appointment to treat his disease.

    Lane missed three other hospital appointments to treat kidney damage, partly because he was afraid of being fined. He collapsed at the wheel of his van while on deliveries a few months before dying in January.

  3. adam 3
    6 February 2018 at 12:21 pm

    Business as usual.

    Smash workers, extract massive profit, greed is good. Look shiny new film to keep you happy and a shiny new leader.

    All praise to capitalism.

  4. One Two 4
    6 February 2018 at 1:19 pm

    The explanations given for market swings became divorced from any semblance of logic around early 00’s…

    Watch a few of the tickers, it is as if someone or something is having a laugh while coming up with [any irrelevant statement]

    It doesn’t matter what rationale is used..the markets operate outside of human requirements…are mostly automated…and should be shut down…

  5. Pat 5
    6 February 2018 at 1:50 pm

    “For the first three months, the QE unwind only removes about $10 billion a month, a negligible amount, given the vast markets and excess liquidity. But it picks up steam every three months. By October 2018, if the plan is still on, the QE unwind will remove $50 billion a month from the markets. This process will do the opposite of what QE had done: it will gradually destroy some of the $3.6 trillion that the Fed had created during QE. And by that time the broader effects of QE – asset price inflation – should also start to reverse.”

    http://www.businessinsider.com/fed-balance-sheet-normalization-is-happening-2017-12/?r=AU&IR=T

    https://www.reuters.com/article/us-eurozone-economy-poll/ecb-to-end-qe-by-dec-but-should-do-so-sooner-economists-idUSKBN1F81TJ

  6. mauī 6
    6 February 2018 at 2:36 pm

    One thing’s for sure they will do literally anything to save the market. Over $10+ trillion has been pushed into the system to keep it afloat since the last major crash in 2008.

  7. RedLogix 7
    6 February 2018 at 3:25 pm

    Sorry … I don’t understand your question. I think my salary depends on it. /smirk

  8. SPC 8
    6 February 2018 at 3:29 pm

    It’s the first market correction in over a year.

    And it only wiped out gains made in the January meltup, so called because there were doubts it would be sustainable and would probably lead to a correction.

    The initial reason for the correction was the doubling of US borrowing in preparation for the loss of revenue resulting from the announced tax cuts.

    It is a simple truism in the market that anything inflationary, leads to a move from investment in stocks towards cash assets.

  9. Stunned Mullet 9
    6 February 2018 at 3:36 pm

    ‘Capitalism. Gotta love it.

    No. You’ve got to.’

    Meh replace it with any other ‘ism’ and you’ll still have winners and losers due to the fickle bums running the show.

  10. Jimmy Ramaka 10
    6 February 2018 at 4:30 pm

    Love it, just waiting for the carnage, hopefully some Bankers will get jailed this time around, some how I doubt it !!!

    It will be Jacinda and Winston’s fault.

    • patricia bremner 10.1
      6 February 2018 at 5:12 pm

      Jimmy!! Oh Rubbish!! This started with Ruth Richardson et al!!!! Douglas and Prebble followed by Bill Birch and those mongrels.

      Winston showed how the money go round worked with the “wine box” inquiry … rather like the Monseca crowd of recent times.

      Jacinda was about 7 years old!! So to blame them is bloody ridiculous!!

  11. Ed 11
    6 February 2018 at 5:16 pm

    I have been posting on the Standard for a while saying that a major financial crisis is on its way.
    And the usual suspects have ridiculed me for saying that.
    Now it appears to have started.

    The Daily Blog is reporting the coming crash.

    https://thedailyblog.co.nz/2018/02/06/dow-jones-crashes-1175-points/

    Rachel Stewart speaks sense as ever on twitter.

    “Of course, the DOW *could* bounce back. And likely will. But it’s all a game built upon a rickety board. Propped up and malignant. It’s only a matter of time.”

    And this her comment on Bernard Hickey’s article.

    “Famous last words from Hickey. I know he’s an economist, but he and his ilk tend to miss things. Like the last GFC. ”

    https://www.newsroom.co.nz/2018/02/06/81386/why-the-waitangi-day-wipeout-is-no-new-gfc

  12. greg 12
    6 February 2018 at 5:16 pm

    none of problems from the gfc were addressed we are in uncharted waters we have bubble everything and much higher debt than 2008.
    its frightening how this is going to unwind. i fear how new Zealand will be affected house holds have run up huge debts it cant be good our fire economy is just a house of cards how stupid is trading houses at ever increasing prices while racking up debt close to 170 percent of GDP. is this the start of the long awaited and predicted crash?????this is all nationals fault 9 years of incompetence and greed this is there legacy
    ps you may need a hard hat in queen street from bankers committing suicide

    • Ed 12.1
      6 February 2018 at 5:41 pm

      Bomber Bradbury nails it.

      “The grim reality that the wealth creation built since the GFC in 2007/2008 is an illusion that can only survive on record low interest rates and insane Quantitate Easing is starting to sink in with the Dow Jones following up the 666 point loss on Friday with a horror 1175 point plunge today.

      The meltdown will hit NZ with higher interest rates on house properties people won’t be able to afford while they watch their Kiwisaver accounts get mashed.”

      • Chuck 12.1.1
        6 February 2018 at 6:16 pm

        “Bomber Bradbury nails it.”

        Even a broken clock is correct twice a day comes to mind when you mention Bomber.

        As OAB mentions below someone/s would have made a shit load of money shortening the Dow (and other markets). George Soros took on the UK Exchequer and reportedly made a billion pounds betting against the pound, from memory in the early 1990’s.

        The US economy is in pretty good shape, stock valuations are out of control for sure. A correction is long overdue to more realistic levels.

        I agree with interest rates Ed when they do start to increase a couple of percents will put a lot of households on the edge. And one of the main drivers of the housing boom will cease. However, while demand outstrips supply… there will be a cushion.

    • Phil 12.2
      7 February 2018 at 12:53 pm

      ps you may need a hard hat in queen street from bankers committing suicide

      I don’t think any of the big-4 banks have head offices on Queen Street any more…

  13. One Anonymous Bloke 13
    6 February 2018 at 5:36 pm

    Perhaps this government will ask us to tighten our belts. If they do, don’t forget that the big end of town loves a bear market because of the acquisition opportunities it reveals.

    Those who are in a position to short the market just made a lot of cash. If anyone needs to take a haircut I suggest we start with them.

    • adam 13.1
      6 February 2018 at 5:51 pm

      Well we could all just stop.

      Stop paying rent, stop going to work, stop buying stuff.

      That would be the best thing we could do if they ask us to tighten our belts.

      • One Anonymous Bloke 13.1.1
        6 February 2018 at 6:12 pm

        Boring. I’m not going to stop working, nor am I going to stop buying the supplies that enable my work. I don’t pay rent, and my mortgage payments are minimal.

        A house across the road from me is empty and has been for years. I’ll be enabling squatters before I take up any of your suggestions. In the event that this government tries to visit any putative consequences onto the most vulnerable, that is.

        I doubt this ‘market correction’ will result in anything other than acquisition opportunities for the big end of town, and if it does, there’ll be plenty of work to do, don’t worry.

      • greg 13.1.2
        6 February 2018 at 7:14 pm

        new Zealand since 2008 growth was fund by credit growth in the house hold sector
        so in away you are right consumerism may well dry up. there isnrt much the government can do for a lot of people this will end up an own goal driven by greed to take on risks they could not afford.

        • One Anonymous Bloke 13.1.2.1
          6 February 2018 at 7:32 pm

          there isn’t much the government can do

          Of course there is. Emergencies warrant emergency powers.

          • Pat 13.1.2.1.1
            6 February 2018 at 7:36 pm

            what do you suggest?

            • One Anonymous Bloke 13.1.2.1.1.1
              6 February 2018 at 7:44 pm

              That the government uses te Tiriti and the UDoHR as guides when considering all legislative and executive responses.

              In this specific circumstance, what’s at stake? More homelessness? Some investors take a haircut? The response depends on the stakes.

              • Pat …
                6 February 2018 at 8:37 pm

                specifically…

                • One Anonymous Bloke …
                  6 February 2018 at 9:08 pm

                  You want a specific answer to an non-specific problem? If it’s any increase in homelessness I suggest the government requisition accommodation, starting with “ghost houses” in the short term, and then legislate for squatters’ rights.

                  • Pat …
                    6 February 2018 at 9:12 pm

                    the specific scenario presented by greg was ..”there isnrt much the government can do for a lot of people this will end up an own goal driven by greed to take on risks they could not afford.”…to which you replied….”Of course there is. Emergencies warrant emergency powers.”

                    so what emergency powers do you think should be implemented?

                    • One Anonymous Bloke …
                      6 February 2018 at 9:23 pm

                      Funny how you missed out the part where Pat said:

                      “there isn’t much the government can do”,

                      Now why would you do that, I wonder.

                      Pat proposes that the government can do noting for people who take on risks they cannot afford. In reality, the government does things for people in dire straits all the time. Every single day. So the premise is false, especially in the event of emergencies.

                      Is that clear enough for you? If not you’ll have to wait ’til tomorrow.

                  • Pat …
                    6 February 2018 at 9:30 pm

                    lol…clear as mud…and Pat said none of that and i wont hold my breath in expectation of clarification

        • Nic the NZer 13.1.2.2
          6 February 2018 at 8:16 pm

          Turns out your wrong by just the one government, growth in NZ has been funded on credit since closer to 2000, its far from just since 2008.
          https://www.rbnz.govt.nz/statistics/key-graphs/key-graph-household-debt

          Of course there is a lot the government can do, primarily running a deficit spending more and taxing less (which raises non-government income and therefore increases employment, government surplus does the reverse) being first and foremost. The government is always able to resolve or avoid a recession using it’s ability to deficit spend.

          • One Anonymous Bloke 13.1.2.2.1
            6 February 2018 at 9:13 pm

            On what planet is taxing less the solution, given eg: Germany’s top tax rate?

            • Nic the NZer 13.1.2.2.1.1
              6 February 2018 at 9:47 pm

              “On what planet is taxing less the solution”

              When the government wants more income to go to the non-government sector collecting less in tax is an option (another is spending more). That is just accounting of course.

              “Germany’s top tax rate?”

              Germany is a pretty poor example because it’s current position depends on a large persistent export surplus, and this aspect of its behavior is extremely disruptive causing elevated unemployment in other ‘partner’ Eurozone countries.
              It regularly refuses to spend more on somewhat run down infrastructure and the domestic population (many of who work in Hartz reform mini-jobs and therefore effectively work below the minimum wage). Given its going to keep refusing to do this spending (which would likely lead to higher domestic wages standards of living and lowering the export surplus) the German Government should collect less tax allowing the domestic population to keep more of their income to spend for themselves (e.g the government deficit should be larger in Germany than it is). This would improve the situation for both Germans and Eurozone partner countries and ease the significant political tensions in those countries.
              Though it would probably make the political narrative of, shining example Germany vs the lazy indigent southern periphery block countries, harder to support.

  14. Jackel 14
    6 February 2018 at 5:46 pm

    The US stock market records it’s biggest fall ever. No one bats an eyelid. Capitalism gotta be a joke.

  15. WILD KATIPO 15
    6 February 2018 at 6:17 pm

    Patty’s so concerned with the stock-market blues shes decided to go bush , – again.

    Bigfoot caught on tape (Patterson footage stabilized) – YouTube
    Video for patterson gimlin film clip you tube▶ 1:49
    https://www.youtube.com/watch?v=Us6jo8bl2lk

  16. Ad 16
    6 February 2018 at 8:19 pm

    Even if there were a very, very hard crash of the global stock market,
    one that was big enough to see interest rates absolutely skyrocket,
    so high that we saw floating mortgage rates go up …

    … exactly what would change?

    – Headline unemployment is at 4.6% and falling
    – Demand for housing is still massive – and pushed by the state
    – Construction demand is still massive – and pushed by the state
    – Tourism demand is still massive – and the 1% always need entertaining
    – Broadly agricultural demand (including forestry, horticulture, wine, dairy, lamb, fish, etc) is still massive
    – Even manufacturing demand is high

    And it would take at least four of those to really dent the New Zealand economy sufficient to dent our society as a whole.

    It’s possible, in some future, be we are a long, long way from that possibility yet.

    • Nic the NZer 16.1
      6 February 2018 at 8:30 pm

      “one that was big enough to see interest rates absolutely skyrocket”

      If the economy collapses central banks will reduce official interest rates, not increase them. That will no doubt flow onto floating mortgage rates pretty much immediately.

      • Ad 16.1.1
        6 February 2018 at 8:53 pm

        I would hope you were right, but I remember 1987-89 pretty clearly when mortgage rates went to 18%, second mortgages were in the high 20% range, and all construction just stopped.

        A few things had to line up for that to happen.

        • Nic the NZer 16.1.1.1
          6 February 2018 at 9:52 pm

          Well if the economy collapses and the reserve bank governor responds by raising interest rates then one thing is for certain, the governor will soon be looking for a new job.

    • Pat 16.2
      6 February 2018 at 8:41 pm

      you seem to be unaware of the cause of the correction.

      • Ad 16.2.1
        6 February 2018 at 8:49 pm

        They’re rarely causally related with predictable trends in the day to day economy.

        And even if some glorious soothsayer could make those calls consistently, it would not matter – unless all elements consistently fell in a specific sequence.

        Everybody just relax.

        • Pat 16.2.1.1
          6 February 2018 at 8:52 pm

          lol…tell that to the mortgage holders

          • Ad 16.2.1.1.1
            6 February 2018 at 8:58 pm

            Have you noticed some movement in interest rates overnight?

            Any bank warnings?

            Any central bank warnings from Federal Reserve or ECB?

            Anyone making runs on banks somewhere?

            Even some untoward exchange rate change that night at some point make money slightly more expensive?

            Just inhale for a bit.

            • Pat 16.2.1.1.1.1
              6 February 2018 at 9:03 pm

              my breathings fine…youre reading ability for the past 12 months obviously hasnt been.

  17. Andre 17
    6 February 2018 at 8:30 pm

    Bitcoin enthusiasts have gone oddly quiet lately, too.

    • Jack Ramaka 17.1
      7 February 2018 at 7:22 pm

      Read that Banks are no longer allowing customers to buy Bitcoins on their credit cards ?

  18. eco maori 18
    7 February 2018 at 2:16 am

    Steve Adams is getting more MANA every time I read about him Many thanks to the reporters giving him what he deserves a excellent review. Kia kaha bro

    Adams now OKC’s ‘3rd best’

    https://i.stuff.co.nz/sport/basketball/101210090/steven-adams-receives-high-praise-ahead-of-okc-thunder-visit-to-golden-state Ka kite ano

    • Johan 18.1
      7 February 2018 at 11:34 pm

      Steven Adams’ Oklahoma City Thunder run the Golden State Warriors off the floor.
      What an athlete!

  19. Zorb6 19
    7 February 2018 at 8:43 am

    I would be interested to see Hickey provide evidence of this-”American banks are also in a much stronger position. They are mostly out of trading complicated and often synthetic products in financial markets ‘.

Recent Comments

Recent Posts

  • Anzac Commemorative Address – Dawn Service, Gallipoli, Türkiye
    Mai ia tawhiti pamamao, te moana nui a Kiwa, kua tae whakaiti mai matou, ki to koutou papa whenua. No koutou te tapuwae, no matou te tapuwae, kua honoa pumautia.   Ko nga toa kua hinga nei, o te Waipounamu, o te Ika a Maui, he okioki tahi me o ...
    BeehiveBy beehive.govt.nz
    4 hours ago

  • PM announces changes to portfolios
    Paul Goldsmith will take on responsibility for the Media and Communications portfolio, while Louise Upston will pick up the Disability Issues portfolio, Prime Minister Christopher Luxon announced today. “Our Government is relentlessly focused on getting New Zealand back on track. As issues change in prominence, I plan to adjust Ministerial ...
    BeehiveBy beehive.govt.nz
    1 day ago

  • New catch limits for unique fishery areas
    Recreational catch limits will be reduced in areas of Fiordland and the Chatham Islands to help keep those fisheries healthy and sustainable, Oceans and Fisheries Minister Shane Jones says. The lower recreational daily catch limits for a range of finfish and shellfish species caught in the Fiordland Marine Area and ...
    BeehiveBy beehive.govt.nz
    1 day ago

  • Minister welcomes hydrogen milestone
    Energy Minister Simeon Brown has welcomed an important milestone in New Zealand’s hydrogen future, with the opening of the country’s first network of hydrogen refuelling stations in Wiri. “I want to congratulate the team at Hiringa Energy and its partners K one W one (K1W1), Mitsui & Co New Zealand ...
    BeehiveBy beehive.govt.nz
    2 days ago

  • Urgent changes to system through first RMA Amendment Bill
    The coalition Government is delivering on its commitment to improve resource management laws and give greater certainty to consent applicants, with a Bill to amend the Resource Management Act (RMA) expected to be introduced to Parliament next month. RMA Reform Minister Chris Bishop has today outlined the first RMA Amendment ...
    BeehiveBy beehive.govt.nz
    2 days ago

  • Overseas decommissioning models considered
    Overseas models for regulating the oil and gas sector, including their decommissioning regimes, are being carefully scrutinised as a potential template for New Zealand’s own sector, Resources Minister Shane Jones says. The Coalition Government is focused on rebuilding investor confidence in New Zealand’s energy sector as it looks to strengthen ...
    BeehiveBy beehive.govt.nz
    2 days ago

  • Release of North Island Severe Weather Event Inquiry
    Emergency Management and Recovery Minister Mark Mitchell has today released the Report of the Government Inquiry into the response to the North Island Severe Weather Events. “The report shows that New Zealand’s emergency management system is not fit-for-purpose and there are some significant gaps we need to address,” Mr Mitchell ...
    BeehiveBy beehive.govt.nz
    2 days ago

  • Justice Minister to attend Human Rights Council
    Justice Minister Paul Goldsmith is today travelling to Europe where he’ll update the United Nations Human Rights Council on the Government’s work to restore law and order.  “Attending the Universal Periodic Review in Geneva provides us with an opportunity to present New Zealand’s human rights progress, priorities, and challenges, while ...
    BeehiveBy beehive.govt.nz
    3 days ago

  • Patterson reopens world’s largest wool scouring facility
    Associate Agriculture Minister, Mark Patterson, formally reopened the world’s largest wool processing facility today in Awatoto, Napier, following a $50 million rebuild and refurbishment project. “The reopening of this facility will significantly lift the economic opportunities available to New Zealand’s wool sector, which already accounts for 20 per cent of ...
    BeehiveBy beehive.govt.nz
    3 days ago

  • Speech to the Southland Otago Regional Engineering Collective Summit, 18 April 2024
    Hon Andrew Bayly, Minister for Small Business and Manufacturing  At the Southland Otago Regional Engineering Collective (SOREC) Summit, 18 April, Dunedin    Ngā mihi nui, Ko Andrew Bayly aho, Ko Whanganui aho    Good Afternoon and thank you for inviting me to open your summit today.    I am delighted ...
    BeehiveBy beehive.govt.nz
    3 days ago

  • Government to introduce revised Three Strikes law
    The Government is delivering on its commitment to bring back the Three Strikes legislation, Associate Justice Minister Nicole McKee announced today. “Our Government is committed to restoring law and order and enforcing appropriate consequences on criminals. We are making it clear that repeat serious violent or sexual offending is not ...
    BeehiveBy beehive.govt.nz
    3 days ago

  • New diplomatic appointments
    Foreign Minister Winston Peters has today announced four new diplomatic appointments for New Zealand’s overseas missions.   “Our diplomats have a vital role in maintaining and protecting New Zealand’s interests around the world,” Mr Peters says.    “I am pleased to announce the appointment of these senior diplomats from the ...
    BeehiveBy beehive.govt.nz
    3 days ago

  • Humanitarian support for Ethiopia and Somalia
    New Zealand is contributing NZ$7 million to support communities affected by severe food insecurity and other urgent humanitarian needs in Ethiopia and Somalia, Foreign Minister Rt Hon Winston Peters announced today.   “Over 21 million people are in need of humanitarian assistance across Ethiopia, with a further 6.9 million people ...
    BeehiveBy beehive.govt.nz
    3 days ago

  • Arts Minister congratulates Mataaho Collective
    Minister for Arts, Culture and Heritage Paul Goldsmith is congratulating Mataaho Collective for winning the Golden Lion for best participant in the main exhibition at the Venice Biennale. "Congratulations to the Mataaho Collective for winning one of the world's most prestigious art prizes at the Venice Biennale.  “It is good ...
    BeehiveBy beehive.govt.nz
    4 days ago

  • Supporting better financial outcomes for Kiwis
    The Government is reforming financial services to improve access to home loans and other lending, and strengthen customer protections, Commerce and Consumer Affairs Minister Andrew Bayly and Housing Minister Chris Bishop announced today. “Our coalition Government is committed to rebuilding the economy and making life simpler by cutting red tape. We are ...
    BeehiveBy beehive.govt.nz
    4 days ago

  • Trade relationship with China remains strong
    “China remains a strong commercial opportunity for Kiwi exporters as Chinese businesses and consumers continue to value our high-quality safe produce,” Trade and Agriculture Minister Todd McClay says.   Mr McClay has returned to New Zealand following visits to Beijing, Harbin and Shanghai where he met ministers, governors and mayors and engaged in trade and agricultural events with the New ...
    BeehiveBy beehive.govt.nz
    4 days ago

  • PM’s South East Asia mission does the business
    Prime Minister Christopher Luxon has completed a successful trip to Singapore, Thailand and the Philippines, deepening relationships and capitalising on opportunities. Mr Luxon was accompanied by a business delegation and says the choice of countries represents the priority the New Zealand Government places on South East Asia, and our relationships in ...
    BeehiveBy beehive.govt.nz
    5 days ago

  • $41m to support clean energy in South East Asia
    New Zealand is demonstrating its commitment to reducing global greenhouse emissions, and supporting clean energy transition in South East Asia, through a contribution of NZ$41 million (US$25 million) in climate finance to the Asian Development Bank (ADB)-led Energy Transition Mechanism (ETM). Prime Minister Christopher Luxon and Climate Change Minister Simon Watts announced ...
    BeehiveBy beehive.govt.nz
    6 days ago

  • Minister releases Fast-track stakeholder list
    The Government is today releasing a list of organisations who received letters about the Fast-track applications process, says RMA Reform Minister Chris Bishop. “Recently Ministers and agencies have received a series of OIA requests for a list of organisations to whom I wrote with information on applying to have a ...
    BeehiveBy beehive.govt.nz
    6 days ago

  • Judicial appointments announced
    Attorney-General Judith Collins today announced the appointment of Wellington Barrister David Jonathan Boldt as a Judge of the High Court, and the Honourable Justice Matthew Palmer as a Judge of the Court of Appeal. Justice Boldt graduated with an LLB from Victoria University of Wellington in 1990, and also holds ...
    BeehiveBy beehive.govt.nz
    6 days ago

  • Education Minister heads to major teaching summit in Singapore
    Education Minister Erica Stanford will lead the New Zealand delegation at the 2024 International Summit on the Teaching Profession (ISTP) held in Singapore. The delegation includes representatives from the Post Primary Teachers’ Association (PPTA) Te Wehengarua and the New Zealand Educational Institute (NZEI) Te Riu Roa.  The summit is co-hosted ...
    BeehiveBy beehive.govt.nz
    6 days ago

  • Value of stopbank project proven during cyclone
    A stopbank upgrade project in Tairawhiti partly funded by the Government has increased flood resilience for around 7000ha of residential and horticultural land so far, Regional Development Minister Shane Jones says. Mr Jones today attended a dawn service in Gisborne to mark the end of the first stage of the ...
    BeehiveBy beehive.govt.nz
    6 days ago

  • Anzac commemorations, Türkiye relationship focus of visit
    Foreign Affairs Minister Winston Peters will represent the Government at Anzac Day commemorations on the Gallipoli Peninsula next week and engage with senior representatives of the Turkish government in Istanbul.    “The Gallipoli campaign is a defining event in our history. It will be a privilege to share the occasion ...
    BeehiveBy beehive.govt.nz
    6 days ago

  • Minister to Europe for OECD meeting, Anzac Day
    Science, Innovation and Technology and Defence Minister Judith Collins will next week attend the OECD Science and Technology Ministerial conference in Paris and Anzac Day commemorations in Belgium. “Science, innovation and technology have a major role to play in rebuilding our economy and achieving better health, environmental and social outcomes ...
    BeehiveBy beehive.govt.nz
    6 days ago

  • Comprehensive Partnership the goal for NZ and the Philippines
    Prime Minister Christopher Luxon held a bilateral meeting today with the President of the Philippines, Ferdinand Marcos Jr.  The Prime Minister was accompanied by MP Paulo Garcia, the first Filipino to be elected to a legislature outside the Philippines. During today’s meeting, Prime Minister Luxon and President Marcos Jr discussed opportunities to ...
    BeehiveBy beehive.govt.nz
    7 days ago

  • Government commits $20m to Westport flood protection
    The Government has announced that $20 million in funding will be made available to Westport to fund much needed flood protection around the town. This measure will significantly improve the resilience of the community, says Local Government Minister Simeon Brown. “The Westport community has already been allocated almost $3 million ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Taupō takes pole position
    The Government is proud to support the first ever Repco Supercars Championship event in Taupō as up to 70,000 motorsport fans attend the Taupō International Motorsport Park this weekend, says Economic Development Minister Melissa Lee. “Anticipation for the ITM Taupō Super400 is huge, with tickets and accommodation selling out weeks ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Cost of living support for low-income homeowners
    Local Government Minister Simeon Brown has announced an increase to the Rates Rebate Scheme, putting money back into the pockets of low-income homeowners.  “The coalition Government is committed to bringing down the cost of living for New Zealanders. That includes targeted support for those Kiwis who are doing things tough, such ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Government backing mussel spat project
    The Coalition Government is investing in a project to boost survival rates of New Zealand mussels and grow the industry, Oceans and Fisheries Minister Shane Jones has announced. “This project seeks to increase the resilience of our mussels and significantly boost the sector’s productivity,” Mr Jones says. “The project - ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Government focused on getting people into work
    Benefit figures released today underscore the importance of the Government’s plan to rebuild the economy and have 50,000 fewer people on Jobseeker Support, Social Development and Employment Minister Louise Upston says. “Benefit numbers are still significantly higher than when National was last in government, when there was about 70,000 fewer ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Clean energy key driver to reducing emissions
    The Government’s commitment to doubling New Zealand’s renewable energy capacity is backed by new data showing that clean energy has helped the country reach its lowest annual gross emissions since 1999, Climate Change Minister Simon Watts says. New Zealand’s latest Greenhouse Gas Inventory (1990-2022) published today, shows gross emissions fell ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Earthquake-prone buildings review brought forward
    The Government is bringing the earthquake-prone building review forward, with work to start immediately, and extending the deadline for remediations by four years, Building and Construction Minister Chris Penk says. “Our Government is focused on rebuilding the economy. A key part of our plan is to cut red tape that ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Thailand and NZ to agree to Strategic Partnership
    Prime Minister Christopher Luxon and his Thai counterpart, Prime Minister Srettha Thavisin, have today agreed that New Zealand and the Kingdom of Thailand will upgrade the bilateral relationship to a Strategic Partnership by 2026. “New Zealand and Thailand have a lot to offer each other. We have a strong mutual desire to build ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Government consults on extending coastal permits for ports
    RMA Reform Minister Chris Bishop and Transport Minister Simeon Brown have today announced the Coalition Government’s intention to extend port coastal permits for a further 20 years, providing port operators with certainty to continue their operations. “The introduction of the Resource Management Act in 1991 required ports to obtain coastal ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Inflation coming down, but more work to do
    Today’s announcement that inflation is down to 4 per cent is encouraging news for Kiwis, but there is more work to be done - underlining the importance of the Government’s plan to get the economy back on track, acting Finance Minister Chris Bishop says. “Inflation is now at 4 per ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • School attendance restored as a priority in health advice
    Refreshed health guidance released today will help parents and schools make informed decisions about whether their child needs to be in school, addressing one of the key issues affecting school attendance, says Associate Education Minister David Seymour. In recent years, consistently across all school terms, short-term illness or medical reasons ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Unnecessary bureaucracy cut in oceans sector
    Oceans and Fisheries Minister Shane Jones is streamlining high-level oceans management while maintaining a focus on supporting the sector’s role in the export-led recovery of the economy. “I am working to realise the untapped potential of our fishing and aquaculture sector. To achieve that we need to be smarter with ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Patterson promoting NZ’s wool sector at International Congress
    Associate Agriculture Minister Mark Patterson is speaking at the International Wool Textile Organisation Congress in Adelaide, promoting New Zealand wool, and outlining the coalition Government’s support for the revitalisation the sector.    "New Zealand’s wool exports reached $400 million in the year to 30 June 2023, and the coalition Government ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Removing red tape to help early learners thrive
    The Government is making legislative changes to make it easier for new early learning services to be established, and for existing services to operate, Associate Education Minister David Seymour says. The changes involve repealing the network approval provisions that apply when someone wants to establish a new early learning service, ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • RMA changes to cut coal mining consent red tape
    Changes to the Resource Management Act will align consenting for coal mining to other forms of mining to reduce barriers that are holding back economic development, Resources Minister Shane Jones says. “The inconsistent treatment of coal mining compared with other extractive activities is burdensome red tape that fails to acknowledge ...
    BeehiveBy beehive.govt.nz
    1 week ago

Page generated in The Standard by Wordpress at 2024-04-25T06:09:38+00:00