web analytics

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 ”

  1. Incognito 1

    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

    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

    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

    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

    “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

    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

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

  8. SPC 8

    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

    ‘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

    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

      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

    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

    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

      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

        “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

      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

    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

      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

        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

        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

          there isn’t much the government can do

          Of course there is. Emergencies warrant emergency powers.

          • Pat 13.1.2.1.1

            what do you suggest?

            • One Anonymous Bloke 13.1.2.1.1.1

              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

                specifically…

                • One Anonymous Bloke

                  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

                    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

                      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

                    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

          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

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

            • Nic the NZer 13.1.2.2.1.1

              “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

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

  15. 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

  16. Ad 16

    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

      “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

        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

          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

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

      • Ad 16.2.1

        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

          lol…tell that to the mortgage holders

          • Ad 16.2.1.1.1

            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

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

  17. Andre 17

    Bitcoin enthusiasts have gone oddly quiet lately, too.

    • Jack Ramaka 17.1

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

  18. eco maori 18

    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

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

  19. Zorb6 19

    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

  • Quarantine-free travel with Australia to remain suspended for a further 8 weeks
    Suspension to be reviewed again mid to late November Decision brought forward to enable access from Australia to first tranche of around 3000 rooms in MIQ Air New Zealand working at pace to put on more flights from Australia from October    The suspension of quarantine-free travel (QFT) with Australia has ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Extra support for Ethnic Communities to share vaccination information
    Extra support is being made available to Ethnic Communities to help them share COVID-19 vaccination information within their communities, Minister for Diversity, Inclusion and Ethnic Communities Priyanca Radhakrishnan said. “We know we need to get every eligible person in New Zealand vaccinated. A fund being launched today will allow for ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • School holidays remain unchanged for Auckland region
    School holidays in Auckland will continue to be held at the same time as the rest of the country, starting from Saturday, 2 October, Education Minister Chris Hipkins said today. “I’ve carefully considered advice on the implications of shifting the dates and concluded that on balance, maintaining the status quo ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Government continues crackdown on gangs and organised crime
    Operation Tauwhiro extended until March 2022 Since it was launched in February, Operation Tauwhiro has resulted in:   987 firearms seized $4.99 million in cash seized 865 people charged with a firearms-related offence Gangs and organised crime groups will continue to be relentlessly targeted with the extension of Police’s successful ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Speech to Body Positive 'HIV Treatments Update Seminar 2021'
    E ngā mana E ngā reo E ngā iwi Tēnā koutou katoa Ka huri ki ngā mana whenua o te rohe nei. Tēnā koutou. He mihi hoki ki a tatou kua tau mai nei I raro I te kaupapa o te rā. Nō reira tēnā koutou katoa Acknowledgements It’s a ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • NZ economy’s strong momentum will support rebound from Delta outbreak; COVID fund replenished
    The economy showed strong momentum in the period leading up to the recent Delta COVID-19 outbreak, which bodes well for a solid economic rebound, Grant Robertson said. GDP rose 2.8 percent in the June quarter, following on from a 1.4 percent increase in the previous March quarter. This was a ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Projects create benefits into the future
    Making a well-known lake swimmable and helping to halt the decline of the endangered hoiho/yellow-eyed penguins are among a suite of new projects being supported by the Government’s Jobs for Nature programme across the southern South Island, Conservation Minister Kiri Allan says. “It’s no secret that many of our most ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Opening statement for Whāriki Indigenous Small Business Roundtable
      Kei ngā tōpito e wha o te āo e rere ana te mihi maioha ki a koutou nō tawhiti, nō tata mai e tāpiri ana ki tēnei taumata kōrero mo te ao hokohoko arā mā ngā pākihi mo ngā iwi taketake Tēnā koutou, tēnā koutou katoa – Pai Mārire.  ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • New members appointed to Kāpuia
    The Government is adding four additional members to Kāpuia, the Ministerial Advisory Group on the Government’s Response to the Royal Commission of Inquiry into the terrorist attack on Christchurch mosques. “I’m looking forward to having Pamela MacNeill, Huia Bramley, Melani Anae and Katherine Dedo  join Kāpuia and contribute to this group’s ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Timeline confirmed for Emissions Reductions Plan
    Cabinet has agreed to begin consulting on the Emissions Reduction Plan in early October and require that the final plan be released by the end of May next year in line with the 2022 Budget, the Minister of Climate Change, James Shaw confirmed today. “Cabinet’s decision allows organisations and communities ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Pay parity pathway for early learning teachers confirmed
    Pay parity conditions and higher funding rates for education and care services will come into force on 1 January, 2022, Minister of Education Chris Hipkins confirmed today. The Government signalled this work in Budget 2021. “From 1 January, 2022, centres opting into the scheme will receive government funding and be ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Speech to the New Zealand Nurses Organisation Conference 2021
    Kia Ora tatau katoa.   Ka tuku mihi ki nga nēhi, He pou Hauora o Aotearoa, E ora ai tatou.   Whakatau mai  I runga i te kaupapa o te ra Te NZNO conference.   Tena koutou tena koutou Tena tatou katoa   Good morning, and thank you inviting me ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Government investment in farmer-led catchment groups sweeps past 150 mark
    171 catchment groups have now been invested in by the Government 31 catchment groups in the Lower North Island are receiving new support More than 5,000 farmers are focussed on restoring freshwater within a generation through involvement in catchment groups  Government investment in on-the-ground efforts by farmers to improve land ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Fight to protect kauri on track
    The Government is pitching in to help vital work to protect nationally significant kauri forests in Auckland, Minister of Conservation Kiri Allan says. “Ensuring the survival of these iconic trees for future generations means doing everything we can to prevent the potential spread of kauri dieback disease,” Kiri Allan said. ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Joint statement of Mr Bernard Monk; Hon Andrew Little, Minister Responsible for Pike River Re-entry,...
    [Note: The Parties have agreed on terms to fully and finally settle the proceeding and will jointly issue the below statement.] At the heart of this litigation are the lives of the 29 men tragically lost at the Pike River mine on 19 November 2010 and to whom we pay ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • More financial support for businesses
    Today’s decision to keep Auckland in a higher COVID Alert Level triggers a third round of the Wage Subsidy Scheme which will open for applications at 9am this Friday. “The revenue test period for this payment will be the 14th to the 27th of September. A reminder that this is ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Aotearoa New Zealand provides further humanitarian support for Afghanistan
    Aotearoa New Zealand is providing a further $3 million in humanitarian assistance in Afghanistan, Foreign Minister Nanaia Mahuta announced today.  “There is significant humanitarian need in Afghanistan, with the crisis disproportionately affecting women and girls,” said Nanaia Mahuta. The UN has estimated that 80% of the quarter of a million ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Innovative te reo prediction tool announced in Te Wiki o Te Reo Māori
    A new Māori language prediction tool will play a key role in tracking our te reo Māori revitalisation efforts, Minister for Māori Development Willie Jackson announced today. He Ara Poutama mō te reo Māori (He Ara Poutama) can forecast the number of conversational and fluent speakers of te reo Māori ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Further Government support for people to access food and essential items
    The Government is responding to need for support in Auckland and has committed a further $10 million to help people access ongoing food and other essential items, Minister for Social Development Carmel Sepuloni announced today. This latest tranche is targeted at the Auckland region, helping providers and organisations to distribute ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Half a million Pfizer vaccines from Denmark
    The Government has secured an extra half a million doses of Pfizer COVID-19 vaccines from Denmark that will start arriving in New Zealand within days, Prime Minister Jacinda Ardern announced today. “This is the second and larger agreement the Government has entered into to purchase additional vaccines to meet the ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Inland Revenue providing essential COVID support for businesses
    Inland Revenue is seeing increased demand for Resurgence Support Payments and other assistance schemes that it administers, but is processing applications quickly, Revenue Minister David Parker said today. David Parker said the Resurgence Support Payment, the Small Business Cashflow (loan) Scheme and the Wage Subsidy are available at the same ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • New Zealand marks 20th anniversary of 9/11 attacks
    New Zealand is expressing unity with all victims, families and loved ones affected by the September 11 2001 terrorist attacks, and all terrorist attacks around the world since, including in New Zealand. “Saturday marks twenty years since the 9/11 terrorist attacks in the United States, which killed nearly 3,000 people ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Speech to SPREP Environment Ministers
    Talofa Honourable Ulu of Tokelau Faipule Kelihiano Kalolo Tēnā koutou katoa and warm Pacific greetings from Aotearoa to your excellencies, ladies and gentlemen. The new science released by the Intergovernmental Panel on Climate Change on 8 August paints an alarming picture of the projected impacts of climate change on the ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Additional Resurgence Support Payments to support business
    Businesses affected by higher Alert Levels will be able to apply for further Resurgence Support Payments (RSP). “The Government’s RSP was initially intended as a one-off payment to help businesses with their fixed costs, such as rent. Ministers have agreed to provide additional payments to recognise the effects of an ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • More Dawn Raids scholarships announced
    Details of the ‘Manaaki New Zealand Short Term Training Scholarships’, a goodwill gesture that follows the Government’s apology for the Dawn Raids of the 1970s, were released today by Pacific Peoples Minister Aupito William Sio. “These scholarships that are targeted to the Pacific will support the kaupapa of the Dawn Raids’ ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • One-way quarantine-free travel for RSE workers starting in October
      One-way quarantine-free travel for Recognised Seasonal Employer (RSE) workers from Samoa, Tonga and Vanuatu starts in October New requirement for RSE workers to have received their first vaccination pre-departure, undertake Day 0 and Day 5 tests, and complete a self-isolation period of seven days, pending a negative Day 5 ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Govt boosts Pacific suicide prevention support
    Applications have opened for the Pacific Suicide Prevention Community Fund as the Government acts to boost support amid the COVID delta outbreak. “We know strong and connected families and communities are the most important protective factor against suicide and this $900,000 fund will help to support this work,” Health Minister ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Govt parks the expiry of licenses, WoFs and regos
    As a result of the Delta outbreak, driver licences, Warrants of Fitness (WoFs), Certificates of Fitness (CoFs), vehicle licences (‘regos’) and licence endorsements that expired on or after 21 July 2021 will be valid until 30 November 2021, Transport Minister Michael Wood has announced today. “While this extension won’t officially ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • COVID-19 community fund to provide support for vulnerable women and girls
    Minister for Women Jan Tinetti today announced a $2 million community fund that will provide support for women and girls adversely affected by COVID-19. “We know that women, particularly those who are already vulnerable, are disproportionally affected by the kind of economic disruption caused by COVID-19,” Jan Tinetti said. ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Next phase of support for Fiji’s COVID-19 response announced
    A further NZ$12 million of support for Fiji’s COVID-19 response has been announced by Foreign Minister Hon Nanaia Mahuta today. The package builds on previous tranches of assistance Aotearoa New Zealand has provided to Fiji, totalling over NZ$50 million. “Fiji remains in a very challenging position in their response to ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Robotic asparagus harvester aimed at addressing industry challenges
    The Government is backing a $5 million project to develop a commercial-scale autonomous robotic asparagus harvester, Agriculture Minister Damien O’Connor announced today. The Sustainable Food and Fibre Futures fund (SFF Futures) is contributing $2.6 million to the project. Project partner Robotics Plus Limited (RPL) will build on a prototype asparagus ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Additional Pfizer vaccines to arrive tomorrow
    More than a quarter of a million additional doses of the Pfizer vaccine are on their way from Spain to New Zealand, Prime Minister Jacinda Ardern announced today. The additional doses will arrive in Auckland on Friday morning to help meet the current surge in demand for vaccination. “It’s been ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Young people to have their voices heard in Youth Parliament 2022
    The dates and details for Youth Parliament 2022 have been announced today by Minister for Youth Priyanca Radhakrishnan, and the Speaker of the House of Representatives. Youth Parliament is an opportunity for 141 young people from across Aotearoa New Zealand to experience the political process and learn how government works. ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Boosting support for tertiary students affected by COVID-19
    Students facing a hard time as a result of COVID-19 restrictions will continue to be supported,” Education Minister Chris Hipkins confirmed today. The Government is putting a further $20 million into the Hardship Fund for Learners, which will help around 15,000 students to stay connected to their studies and learning. ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • COVID-19: Immediate relief available for Māori and iwi organisations
    The Government has reprioritised up to $5 million to provide immediate relief to vulnerable whānau Māori and communities during the current COVID-19 outbreak Minister for Māori Development Willie Jackson announced today. The COVID-19 2021 Whānau Recovery Fund will support community-driven, local responses to gaps in access and provision of critical ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • New beef genetics programme to deliver cows with smaller environmental hoof-print
    The Government is backing a genetics programme to lower the beef sector’s greenhouse gas emissions by delivering cows with a smaller environmental hoof-print, Agriculture Minister Damien O’Connor announced today. Informing New Zealand Beef is a seven-year partnership with Beef + Lamb New Zealand that is expected to result in more ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Appointments to the New Zealand Qualifications Authority
    Education Minister Chris Hipkins today announced new appointments to the board of the New Zealand Qualifications Authority (NZQA). Former Associate Minister of Education, Hon Tracey Martin, has been appointed as the new Chair for NZQA, replacing the outgoing Acting and Deputy Chair Professor Neil Quigley after an 11-year tenure on ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Govt supports residential house building by allowing manufacture of building supplies
    The Government has agreed to allow some building product manufacturing to take place in Auckland during Covid lockdown to support continued residential construction activity across New Zealand. “There are supply chain issues that arise from Alert Level 4 as building products that are manufactured domestically are mostly manufactured in Auckland. ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Government invests in scientific research to boost economy, address climate change and enhance wellb...
    Research, Science and Innovation Minister Hon Dr Megan Woods has today announced the recipients of this year’s Endeavour Fund to help tackle the big issues that New Zealanders care about, like boosting economic performance, climate change, transport infrastructure and wellbeing. In total, 69 new scientific research projects were awarded over ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Transport to drive economic recovery
    The Government is investing a record amount in transport services and infrastructure to get New Zealand moving, reduce emissions and support the economic recovery, Transport Minister Michael Wood announced today. The 2021-24 National Land Transport Programme (NLTP) was released today which outlines the planned investments Waka Kotahi NZ Transport Agency ...
    BeehiveBy beehive.govt.nz
    2 weeks ago