web analytics

CGT or asset sales? Which do you prefer?

Written By: - Date published: 7:24 am, July 14th, 2011 - 106 comments
Categories: capital gains, election 2011, privatisation - Tags:

Generally, no-one likes taxes, so Labour’s polling shows that Kiwis are surprisingly receptive to capital gains tax with 31% supporting CGT on its own merits to 43% opposed.

But head to head with National asset sales plan, the choice was clear: 55% prefer CGT vs 32% for privatisation. In a contest of economic plans, Labour wins hands down.

Even John Whitehead agrees. The just retired head of Treasury is the biggest name so far to come out in favour of Labour’s CGT, which he says has been carefully thought through and has major equity arguments in favour of it. He points out that Turkey is the only other OECD country that doesn’t tax capital gains.

National continues to flounder. English could manage yesterday was to scaremonger about the 35% debt ceiling, even though he can’t guarantee that his own policies won’t breach it because he has booked the revenue from asset sales but not the cost of lost dividends:

Hon David Cunliffe: Given that the Minister’s 2011 Budget has already booked the proceeds of those asset sales, for which he has just confirmed that he lacks a mandate, did his Government’s Budget 2011 Fiscal Strategy Report set the upper net debt ceiling at 35 percent, and what guarantee can he offer that his policies will not break this limit when his Budget does not properly account for the costs of his Government’s plan to sell public assets?

Hon BILL ENGLISH: The 35 percent ceiling is well above where we expect net debt to peak, which will be just under 30 percent. I think this will be more of an issue for the member. If he says he will use a capital gains tax to offset sales of assets, he cannot count the dividends, because they are still in the Budget now. He cannot add dividends from retaining State assets. They are still in the Budget.

Old Double Dipton up to his old tricks. Giving himself a lower debt projection by counting the proceeds from asset sales but not the ongoing cost of lost dividends.

Kiwis aren’t buying it though.

The polls show that disillusionment with National has been increasing for some time but Labour has been unable to capitalise and take voters away from them because it has not been seen as a credible alternative. CGT changes that. Today, we are going to see the guts of Labour’s economic policy. Every economic heavy-hitter is backing it, which will give great confidence to the public that it’s viable.

Now, it just comes down to a simple choice about this country’s future:

Do you want our strategic assets sold off to foreigners while some of the wealthy continue to avoid paying their fair share?

Or do you want us to own our future with a fair tax system that takes the burden off work and on to capital gains?

(Awesome image of the Cake Tin from Red Alert, photoshopped of course – as if a political party can afford that kind of advertising spend 🙂 – didn’t stop capital gains tax supporter Cameron Slater getting upset though).

106 comments on “CGT or asset sales? Which do you prefer?”

  1. Old Double Dipton up to his old tricks. Giving himself a lower debt projection by counting the proceeds from asset sales but not the ongoing cost of lost dividends.

    Can someone, anyone, defend Blinglish’s actions here?

    To me it is one of two things, either a sign of his utter incompetence in that he banked the sale proceeds but did not deduct the income flow from dividends OR it is extreme cynical manipulation of the system to present us with figures that dodgy you could use it as fish bait.

    Either way he should no longer be Minister of Finance.

    • Lanthanide 1.1

      It’s fraud.

      I’d like to see the Serious Fraud Office make a public statement about it.

    • mik e 1.2

      Borrowing Bill is one of the worst finance ministers this country has ever had . He has managed to get little more than 1% growth in our economy in %years in the job 98-99 -.3% 08,09 – 09,10 -10,11 less than 1% growth but in those years he has managed to borrow more every single year.

  2. sdm 2

    But if the proceeds from those asset sales are re-invested into capital, then the amount of capital owned by the taxpayer has not diminished.

    Personally, I think there are a number of assets that should be sold. Why, for example, does the government own Quotable Value and VTNZ

    • Blighty 2.1

      VTNZ was privatised in 1999.

      Why does the govt own Quotable Value?

      a) it’s a natural monopoly, which would give a private owner the power to charge monopoly prices

      b) it performs an important structural function – QV is the basis of our rating system – that must be above commercial influences. SOEs are required to consider the impacts of their actions on New Zealand society, private companies are not.

      • sdm 2.1.1

        Incorrect, many private valuation companies provide services to TLAs as to their rating valuations. QV does auckland city, and is the biggest player, but not the rest of the country.

        Its not a monopoly – why is it owned by the state

        • Akldnut 2.1.1.1

          It’s a monopoly in Auckland, err why would we sell a monopoly that we own only to pay more to a private owner? Shades of telecom.

        • Ed 2.1.1.2

          Having private firms provide services does not negate the responsibility of VTNZ for ensuring that valuations are free from commercial bias, and that valuations by any valuer (regardless of whether employed or a contractor) are suitably checked for validity.

          Proposing that values be set by private companies (presumably chosen and paid for by owners?) is similar to having private house inspectors replace council inspectors, or removing mine inspectors because companies can be trusted to look after safety . . .

          • sdm 2.1.1.2.1

            No its not. Rating valuations are done by marginal regression analysis. it is about taxation. to compare it with health and safety, or life and death, is wrong.

        • Ari 2.1.1.3

          Perhaps we own QV so we can set publicly acceptable standards for valuations, and thereby encourage any private businesses competing to live up to the same standards in their competition.

          In short: For the same sorts of reasons we own Kiwibank.

          • davidc 2.1.1.3.1

            Yeah we “own” Kiwibank but it uses GE Money for all its lending.

            Fail.

            • Colonial Viper 2.1.1.3.1.1

              Your fail is in understanding that all banks who operate in NZ are connected to wholesale money markets and source funds from offshore.

              Your next fail is understanding that the profits of the Australian banks are repatriated to Australia, and we get to keep the profits from KiwiBank in NZ.

            • Deadly_NZ 2.1.1.3.1.2

              Prove it!! or shut up.

  3. logie97 3

    Is Joky Hen a new “unacceptable face of capitalism”?
    Can we expect a book out anyday (published under a pseudonym of course)
    on how to beat the tax.
    Fancy a person in a leadership position suggesting to Kiwi Mums and Dads all the ruses to avoid paying a CGT. But then he would know after all – and begs the question just how many other tax avoidance ruses might have been used to avoid rendering unto Caesar that which…

  4. It shouldn’t be an either/or question. We can have neither or either or both. And bits of any mix.

    • Help, help.  Peter Dunne is posting under the name Secret Squirrel and is engaging in the stating of the bleedingly obvious.
       
      Explain this SS.
       
      The budget only balanced because the Government put the $6b from sale proceeds into it.  Labour wants to keep the power company shares.  It has to find $6 billion.  It can do this by borrowing this amount and then having a new tax introduced to pay for interest and capital repayments as time goes by.
       
      Address the specifics rather than stating the bleedingly obvious.
       

      • higherstandard 4.1.1

        Mickey what’s the interest on $6 billion at government borrowing rates ?

      • Are you too excited to think this morning? Are you Phil Goff blaspheming under the name of mickysavage?

        Now, it just comes down to a simple choice about this country’s future:

        Do you want our strategic assets sold off to foreigners while some of the wealthy continue to avoid paying their fair share?

        Or do you want us to own our future with a fair tax system that takes the burden off work and on to capital gains?

        It isn’t a simple choice on two completely different types of policy.

        National are proposing a watered down partial asset sale program involving a handful of state assets.

        From what has been leaked Labour is proposing a watered down CGT with exemptions for it’s targeted demographic.

        There’s a hell of a lot more important things than either of those pet voter pandering policies.

        • mickysavage 4.1.2.1

          National are proposing a watered down partial asset sale program involving a handful of state assets.
           
          No they are planning selling $6 b of assets in a strategically vital area that return 17% to pay off debt interest on which is 5%.  There is nothing watered down about that.
           
          There’s a hell of a lot more important things than either of those pet voter pandering policies.
           
          Like what?  Who smiles and waves best?
           
          Selling a significant interest in our power companies to overseas interests is not a trivial matter.
           
           
           
           
           
           
           
           

    • Lanthanide 4.2

      “It shouldn’t be an either/or question. We can have neither or either or both. And bits of any mix.”

      After the election either National will be in power and will sell state assets, or Labour will be in power and enact CGT.

      Choose one.

      If you don’t like it, start your own political party and propose something else.

      • There’s a lot more to choose from than one policy over another. Labour seems to want to put all it’s money on CGT, but asset sales are a sideline pander for National.

        And what if National, or Labour, get the most seats and have to form a coalition with, say, the Maori Party who will only agree to a coalition if neither are done?

        • Lanthanide 4.2.1.1

          “but asset sales are a sideline pander for National”

          No, asset sales are not a sideline pander for National. Apparently you’ve been under a rock and haven’t noticed them talking up “kiwi mums and dads” buying into these assets.

          “And what if National, or Labour, get the most seats and have to form a coalition with, say, the Maori Party who will only agree to a coalition if neither are done?”

          Then if worst comes to worst, no government is formed and we have a new election. But raising a theoretical outcome such as this (where has the MP said they would not form a coalition with either party based on these policies?) doesn’t actually detract from the point of the question: the major parties are proposing different policies, choose the one you like best.

          You might be a Kiwi Party voter, that doesn’t mean you can’t choose between CGT and privatisation even if the KP stands for neither.

          Put it another way: if you are FORCED to have either of the outcomes, what would you prefer?

          • Secret Squirrel 4.2.1.1.1

            I’d look at the whole policy package plus personnel and make a judgement on that.

            I’m dubious about the benefits of partial asset sales but a lot worse things could happen.
            I’m dubious about a CGT that picks and chooses too many groups via exemptions.

            I don’t think either will affect me much, but I think both are being driven for the wrong reasons.

            I’d base my decision on much more than either of these two vote orientated policies.

            • Lanthanide 4.2.1.1.1.1

              “I’d look at the whole policy package plus personnel and make a judgement on that.”

              They’re not asking who you’re going to vote for, they’re asking, if you have to choose one of the policies, which you’d prefer.

              If they were asking who you were going to vote for, the question would be “Who are you going to vote for”, not “which do you prefer: CGT or privatization”, which is the question they actually asked.

              • That’s the question asked here. On the surface.

                You don’t think the whole angle is Natonal=Assets versus Labour=CGT?

                • Lanthanide

                  Given that the polls strongly indicate that National are more preferred over Labour, no, I don’t believe that the people who answered the question interpreted it as Nat = asset sales and Labour = CGT, because if they had, we would expect to see asset sales as more preferred.

                  I think the people answering the question answered it as asked – which of the two policies would you prefer.

                  Note that the Greens have had a CGT policy for a long time, and I believe that Mana does also. Someone who prefers CGT over asset sales may not be a Labour voter.

  5. Herodotus 5

    As someone who supports the concept I am already taken back by these comments, and I bet that the 31% polled were not aware of Labs lolly scramble of exceptions already being touted.
    “Labour will exempt the first $250,000 in gains from the sale of small business assets to protect those who have invested in their enterprises as a means of saving for their retirement.” So why is not every NZer treated equally. I would love to have my retirement savings also have $250k tax free subsidy, giving me an additional $37.5k tax savings over everyone else.
    http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10738345
    “A panel of tax experts will be invited to resolve the complex issues involved in constructing a viable and loophole-free capital gains tax. ” So there was not a well thought out policy so how can we support a policy with no details – do we trust politicans that much? remember 84 or 91 !!!
    So how can the likes of “Even John Whitehead agrees. The just retired head of Treasury is the biggest name so far to come out in favour of Labour’s CGT” come out in supprt when there are no details just a concept!!!!
    Unfortunately the details or should I say the lack of could stall this policy.

    • davidc 5.1

      Key and co will slaughter Labour over this lack of detail. Goff will have estimated tax takes based on assumptions with all the detail of the policy missing. Impossile to defend.

      • r0b 5.1.1

        You’re comfortable defending the Nats booking the profit for asset sales, without accounting for the lost income stream?  Is that the level of your bar for credible economic performance?

      • Blighty 5.1.2

        who says the detail of the policy is missing? We’ve seen heaps of detail so far.

        Of course mere operational details will worked out by IRD, they always are. But the policy choices are for the politicians and it seems like Labour has sorted them.

      • Zaphod Beeblebrox 5.1.3

        So a short term dumb policy (asset sales to Australian Super Funds) is better because its easier to explain?

        CGT is not being proposed because it will be popular or easy to explain.

        • Secret Squirrel 5.1.3.1

          Then why try to simplistically frame it as “CGT or asset sales? Which do you prefer?”

          • Lanthanide 5.1.3.1.1

            See 4.2.

          • bbfloyd 5.1.3.1.2

            ss, the question as framed is utterly clear. the choice is stark. what is really going on in that mind of yours?

            if you have a compulsion to wallow in minutiae, then go for it, but posing obviously simplistic questions that have self evident answers is exposing flaws in either your intellect, or emotional balance.

            or are you just being contrary because you can?

            • Lanthanide 5.1.3.1.2.1

              I’ve often argued pedantically over minutia.

              But I honestly don’t think there’s any reasonable argument that can be made in this case.

      • mik e 5.1.4

        So read my lips John Key no new tax.s .What about the loss of 17.6% of dividends loss on the asset sale no mention where thats coming from .Borrowing bill will just borrow more and sell more while the economy stagnates.

    • Colonial Viper 5.2

      Gotta agree with Herod, the more exemptions the more loopholes for the big players to exploit.

      • Chris 5.2.1

        Yeah I agree as well. I am for a capital gains tax but it needs to be as simple as possible it is the only way to close loopholes, which is the main benefit of the tax.

  6. vto 6

    Hey Bill English..

    Can I have some of that shit whereby you get to sell a business and yet keep the ongoing income stream from that business?

  7. vto 7

    If the assets are no good and not worth owning then why would some other person want to own them?

    If the assets are good and well worth owning and will be snapped up by investors then why would we sell them?

    • Draco T Bastard 7.1

      If we had politicians that were doing the best for the country that they can then they wouldn’t. But we don’t have those in government ATM. The government is pandering to its base – rich, foreign investors.

  8. Tangled up in blue 8

    CGT or asset sales? Which do you prefer?

    I much prefer a CGT but think it’s a somewhat misleading question as asset sales provides money the Govt. needs immediately and a CGT doesn’t. Many commentators are backing a CGT not because it’s a big money earner but because it’s a way to reallocate capital to more productive areas.

    Perhaps the question should be ‘Reverse top tax cuts or asset sales? Which do you prefer?’.

    • Lanthanide 8.1

      It’s asking people to compare the two major planks of economic/election policy so far released by the two largest parties.

    • Draco T Bastard 8.2

      …as asset sales provides money the Govt. needs immediately…

      No it doesn’t. The government can borrow the money or, even better, just print it and then increase taxes to cover the added money.

      • Tangled up in blue 8.2.1

        How doesn’t the Govt. not receive money from asset sales straight away?

        • Draco T Bastard 8.2.1.1

          Well, I suppose I should have been clearer. It’s not the only way a government could raise cash immediately and, considering that it leaves the government books worse off in the long run resulting in more borrowing later it’s not the best option either.

  9. queenstfarmer 9

    55% prefer CGT vs 32% for privatisation

    Well then it’s good to know that the Govt isn’t planning to privatise any state assets.

    • Blighty 9.1

      right. Are you saying that because National calls their privatisation scheme “mixed ownership”?

      Well, sorry to disappoint you, but even Key forgets his lines and says the P word sometimes, like on Tuesday:

      Rt Hon JOHN KEY: I do dispute that, and I do that on the basis of a report by Pattrick Smellie, which goes on to say: “One of the least defensible criticisms of the Key Government’s partial privatisation plans…”

      • queenstfarmer 9.1.1

        That’s right, partial privatisation != privatisation. I won the debate on this the other day.

        [note != means “not equal to”, I reckon it should be popularised as useful shorthand]

        • Lanthanide 9.1.1.1

          Partial privatisation is clearly a subset, or type, of privatisation. You can tell by the way it has “privatisation” in it.

          Much that same as a “plasma television” is still a television, “partial privatisation” is still privatisation.

          • queenstfarmer 9.1.1.1.1

            Yes, but that doesn’t apply to a verb such as privatise.

            For example, you wouldn’t described a house as “completed”, if in fact it was only “partially (ie 49%) completed”, or would you?

        • Blighty 9.1.1.2

          so when your girlfriend says she’s ‘a little bit pregnant’, it’s not the real thing?

        • Draco T Bastard 9.1.1.3

          No you didn’t, people just started ignoring your delusional ravings.

  10. DeeDub 10

    Well, we’re left in no doubt as to what Mike Hosking thinks.

    http://www.newstalkzb.co.nz/newsdetail1.asp?storyid=200442

    What a misspelled 10th century Danish king!

    • queenstfarmer 10.1

      I’m in some doubt, but only because he seemed quite in favour of CGT the other day.

  11. Matthew Hooton 11

    Where do I tick “I want both”?

    • You want everything!
       
      Any thoughts Matthew on Blinglish giving himself a lower debt projection by counting the proceeds from asset sales but not the ongoing cost of lost dividends?
       
       

    • Chris 11.2

      Haha yeah me too.

      • Blighty 11.2.1

        Well. If you vote Labour, you’ll get a CGT and there’s always the possibility of asset sales when National next gets in.

        If Labour loses, you’ll get asset sales but CGT will be a dead duck, and you’ll never see a major party implement it.

        So, vote Labour if you want both – it’s the option with the maximum probability that you’ll get both..

    • millsy 11.3

      So what have the Chinese promised you for helping them get their filthy hands on OUR hydro dams and coal mines?

      A place in our Vichy government perhaps?

    • mikesh 11.4

      Easy for me. I just don’t tick either.

  12. tsmithfield 12

    For all the talk on this site about how popular the CGT will be, it seems that the overseas experience is that people hate them and that governments are starting to withdraw from them.

    From the digital version of The Press (quoted in full here since a link won’t go through unless you are paid up with “the Press”):

    Capital gains tax ‘unpopular’ overseas

    Capital gains taxes are unpopular overseas and governments are being pressured to reduce them, a tax expert says.
    Aaron Quintal, tax partner at Ernst & Young, says a capital gains tax has been in place in Australia since 1986 covering not only property but the sale of businesses, shares and other investments.
    ‘‘There’s kind of a New Zealand mindset that it’s a human right to be able to make a capital gain and not pay tax on it, which the rest of the world doesn’t really share.’’
    However, Australia had softened its capital gains tax, with many exceptions and concessions for people not considered traders.
    Those who had owned an asset longer than 12 months only paid their personal tax rate on half their gain rather than the full amount, Quintal said.
    Other countries were also under pressure to reduce capital gains tax or increase exceptions.
    ‘‘It’s more of an unpopular tax.’’
    Ernst & Young also estimated that the tax take from a capital gains tax would be much lower than the $4.5 billion suggested by the Tax Working Group. It estimated that the annual revenue was $675 million, because the working group had based its figures on a more comprehensive tax base, including farms and businesses, and used marginal tax rates instead of the 15 per cent purportedly being proposed.
    ‘‘And that’s if everyone sells their properties,’’ Quintal added

    • Draco T Bastard 12.1

      tsmithfield states the bleeding obvious – that people don’t like taxes – and then tries to use that as an argument against a necessary tax.

  13. Question:
     
    Who said “[t]he right thing to do would be to have a comprehensive capital gains tax”?

    • It doesn’t sound like it’s going to be Phil Goff.

      I hope it’s not as full of exemptions as reports suggests, with distortions like 15% CGT (for those that can’t escape the holes) alongside raising the top tax rate even further away from that.

    • Tangled up in blue 13.2

      I’m hoping for a CGT that’s more than just electioneering from Labour.

      So applied somewhat retrospectively and close to 30% on most capital gains.

      • Lanthanide 13.2.1

        I’m sure Labour will refrain from electioneering if National does too.

        That means selling 100% state ownership in the power companies, Air NZ and Kiwibank, instead of just the 49% stakes they’re doing now purely for electioneering purposes.

        What’s good for the goose is good for the gander.

    • queenstfarmer 13.3

      If Blingish said it, could it signal a strategic shifting in National’s stance?

    • freedom 13.4

      but if Bill thinks its the right thing to do and he has been making all these terrible decisions lately does that mean it is a mistake to implement a CGT? A person could go nuts trying to understand that man.

    • Draco T Bastard 13.5

      Answer here

  14. johnm 14

    No Asset Sales and a CGT.(No way is it an either or) However with CGT it’s all a bit late.A CGT should have been operating 12 years ago.It’s now too late to remedy the speculative windfalls 200,000 kiwis have themselves bid into existence(Some of whom have 5,6,7 Houses in addition to their own homes,Surely the very definition of GREED?!) with the collusion of government and the banks and too late to remedy the unaffordability of buying their first family home for most young kiwis-: GREED triumphs again over social equity and fairness.

    • Treetop 14.1

      At least if you own more than the home you live in, you have time to sell the other houses before the GGT is implemented. I don’t know if savings in the bank are to be included in the GGT?

      If power assests are sold a person is unable to avoid this loss occurring as the seller is the government and not an individual.

      • mikesh 14.1.1

        Aristotl told us 2500 years ago that there can never be a capital gain with money. 1000 drachmata will always be worth 1000 drachmata.

  15. randal 15

    ha ha hooton. I want both too!

  16. randal 16

    sock it to ’em. if ya give the proletariat money in this country they just waste it on toys and hardly davisons and leaf blowers and trips to places they never knew existed before until the travel agent blew them a kiss.

  17. swordfish 17

    But hang on a minute, Eddie. That nice Mr Key has assured us that, if we adopt CGT, we’ll almost certainly all be murdered in our beds. I, for one, believe he’s sincere.

  18. Chris 18

    [deleted]

    [lprent. Chris has been persistently violating the ban. He is now permanent spam. ]

    • Kaplan 18.1

      This just in.
      Boy Racers against car crushing law.
      Pub owners against tighter liquor laws.
      Large corporation against capital gains tax.

  19. Bored 19

    Myself I reckon that there will be few capital gains to tax, the world is heading first for extreme deflation with a lack of liquidity…fewer transactions at lower prices, so no capital gains. That is likely to be followed by massive money prints etc, inflation of the money supply diluting real value, so as prices shoot up any capital gains be worth bugger all in real terms.

    CGT is a good idea, it should have been here years ago, now its far too late.

    • Colonial Viper 19.1

      Bored, in your scenario its even more important that we keep our hard assets. Oh, and buy gold.

    • mikesh 19.2

      Yeah. That’s about the only thing I can think of in favour of a CGT. Nobody will ever have to pay it.

  20. The Gormless Fool formerly known as Oleolebiscuitbarrell 20

    “CGT or asset sales? Which do you prefer?”

    Only your tax won’t raise any money.

    • lprent 20.1

      Nor will asset sales over the long term – it will cost revenue. Or haven’t you bothered to read what the loss in dividends will be for the government?

      It is just another typical National short-term fix whilst avoiding the longer term issues. Just like I’ve seen from every National government since I started voting. Borrow and hope. Sell and hope. Do fuck all because they reflect their mayfly voters.

  21. chris73 21

    How about a third option: More mining

    • davidc 21.1

      Ok now I want all 3 options!

      Its weird but with a CGT I will actually pay less tax! yippeee! and I can own passive rentals again! yippee!

      • Colonial Viper 21.1.1

        Actually we need a viable landlord class to provide quality rental housing to the community.

        No need to say thanks, mate, just enjoy.

        • mikesh 21.1.1.1

          Amen to that. There are too operators making no profits and therefore paying no income tax. That’s the problem we should really be addressing. CGT is just a bandaid. And besides it hits profit making landlords as well as the non profit making ones.

  22. tc 22

    You NACT sycophants and rwnj’s need to get out more…….hear that, it’s the sound of your spin losing traction and the electorate waking up to the reality you have no plan just the same old slash n burn and sell us out to foreign interests.

    Pike rivers a sad reminder as to the impact of the rights belief that the market solves all…..last time I looked it only made the rich and powerful more so.

    • davidc 22.1

      tc, your Mesiah promised a tax policy to counter the partial asset proposed by the Govt and has instead put forward a mixed bag of over complicated bullshit that doesnt earn anything for the next 10 years. Roll on November your lads are going to get hammered if this is the best you can do.

      As for the Pike River mine, I am in favour of hanging for level of incompetence. and for the guy at LWR too.

      • Colonial Viper 22.1.1

        davidc, Labour is not looking at this year or next year to balance the budget. Over a decade, the CGT will bring in many billions of dollars of revenue, directly and indirectly.

    • mikesh 22.2

      Actually I’m a strong supporter of the Labour/Green ticket. But I don’t have to agree with everything they propose, and I think I have been one of the more vociferous opponents of CGT on this website.
      It may be termed a “gamechanger” but it’s a pretty feeble excuse for a plan.

  23. Reality Bytes 23

    If Do-nothing Dunster was Do ing his job properly this wouldn’t be an issue in the first place.

    Apparently we already have CGT. So why are the current team in power bitching about it?

    The buck stops with our revenue minister.

    Mr Dunne, care to comment?

  24. Drakula 24

    The way I see it selling our assets, especially our power producers is about as stupid as a person selling their fishing rod to buy fish!!!!

    With regards to CGT I think that there should be exemptions to our 1st home but I see the more exemptions, the more loop-holes. The legislation here will have to be absolutely water tight.

  25. NickC 25

    I quite like both.

Links to post

Recent Comments

Recent Posts

  • Rāhui day 3
    I’m here in lockdown with my flatmate and her two girls (6 and 2) and it. is. a time. They’re usually really active so to start with the only boardgame in the house is the copy of Guess Who that the 6 year old got for her birthday. Flatmate commented ...
    The little pakehaBy chrismiller
    14 hours ago
  • A test of civil society.
    The CV-19 (COVID) pandemic has seen the imposition of a government ordered national quarantine and the promulgation of a series of measures designed to spread the burden of pain and soften the economic blow on the most strategically important and most vulnerable sectors of society. The national narrative is framed ...
    KiwipoliticoBy Pablo
    19 hours ago
  • Life in Lock Down: Day 2
    . . Lock Down: Day 2 – A photo essay with observations . March 27 – Day 2 of our Strange New World. The Park and Ride near my suburb, usually filled with hundreds of vehicles, had just… four; . . Another drive into Wellington City on a highway nearly ...
    Frankly SpeakingBy Frank Macskasy
    22 hours ago
  • How Do You Feel? What Do You Think?
    Fortune's Children: Under extraordinary pressure, the leader of the Government and the leader of the Opposition will each show us what they are made of. Have they been blessed with intelligence, grace, wit, poise, toughness, empathy and humour – and in what measure? More importantly, to what extent have they ...
    1 day ago
  • Landlords are NOT an essential service
    If you’ve ever had the misfortune of having to rent a property on the open market in New Zealand, which is one of the most expensive in the entire world, you’ll likely be keenly aware of just how arrogant and entitled landlords and their real estate agents can be.Unfortunately for ...
    1 day ago
  • A “new Society” post-COVID19 will definitely emerge. The question is: on what path?
    Society-wise, aside from the specific morbidity shall we say of the medically-oriented aspects of this COVID-19 crisis, what is unfolding before the world is in more than one way an instructive study of humanity and reactions to a high intensity, high stress environment in real time. Friends, we are at ...
    exhALANtBy exhalantblog
    2 days ago
  • Raise the Bar: Everything you need to know about the wage subsidy
    Right now low waged and insecure workers are feeling the economic brunt of the looming #Covid19 Recession. In response legal advocate Toby Cooper* and hospitality and worker’s rights advocate Chloe Ann-King, are putting together a series of legal blogs about your employment rights: In this legal blog we outline some ...
    PosseBy chloeanneking
    2 days ago
  • The massacre of prisoners in Modelo jail, Bogota, March 21
    by Equipo Jurídico Pueblos and Gearóid Ó Loingsigh (25/03/2020) An escape plan in question On the night of March 21st and the early morning of the 22nd, the forces of the Colombian state stormed into the Modelo prison in Bogotá, murdering 23 prisoners and injuring 83, in response to the ...
    RedlineBy Admin
    2 days ago
  • We are not America
    When the government banned semi-automatic weapons in response to a terrorist atrocity, gun-nuts were outraged. Mired in toxic American gun culture, they thought owning weapons whose sole purpose was killing people was some sort of "constitutional right", a necessity for "defending themselves" against the government. Now, the Court of Appeal ...
    No Right TurnBy Idiot/Savant
    2 days ago
  • When will we know the lockdown is working?
    Just before midnight on Wednesday March 25, Aotearoa New Zealand entered a countrywide alert level four lockdown. For at least the next four weeks, everyone who isn’t an essential worker is confined to their bubble. We are doing this to stop the explosive growth in people contracting and dying from ...
    SciBlogsBy Siouxsie Wiles
    2 days ago
  • Lock Down: Day 1
    . . Lock Down: Day 1 – A photo essay with observations . Day one of the Level 4 nationwide lock-down (or, DefCon 4 as I sometimes cheekily call it) started at 11.59PM on 25 March. For a moment, most of the nation held it’s collective breath. In that brief ...
    Frankly SpeakingBy Frank Macskasy
    2 days ago
  • A Compelling Recollection.
    Broad, Sunlit Uplands: How those words fired my young imagination! Or, perhaps, it is more accurate to say: how those words fused, in my young mind, with the image printed on every packet of Fielder’s Cornflour. Always fascinated by history, especially modern history, I cannot hear Churchill’s wonderfully evocative words, even ...
    2 days ago
  • The Warehouse – where everyone gets a virus
    . . 24 March 2020 9.46AM Number of covid19 cases in Aotearoa New Zealand: 102 . As of 11.59 on Thursday, most of New Zealand will go into “lock down”. People will be expected not to travel to work; not to socialise; and to stay home. I will not be ...
    Frankly SpeakingBy Frank Macskasy
    2 days ago
  • After the Pandemic
    It will pass. What happens next? Not immediately, but longer term. There are many opinions, fewer certainties. Will it “change everything!” as many confidently, and contradictorily predict? In this post I look at how foresight can help bound some of the uncertainties so you can more objectively consider the future. ...
    SciBlogsBy Robert Hickson
    3 days ago
  • Coronavirus – Cuba shows the way
    We’ve been meaning t write something on Cuba and the coronavirus but have just discovered a very good article on the subject in the US left publication Jacobin.  The article looks at how Cuba, a poor country but one where capitalism has been done away with, is leading the way ...
    RedlineBy Admin
    3 days ago
  • Using privacy law to prevent the death penalty
    In 2018, El Shafee Elsheikh and Alexanda Kotey - two British citizens who had purportedly been stripped of their citizenship by the British government - were captured while fighting for Isis in Syria. The British government then conspired to hand them over to the US, and agreed to provide evidence ...
    No Right TurnBy Idiot/Savant
    3 days ago
  • It’s Time For Disaster Socialism.
    Transformers: The disaster of the Great Depression was transformed into a new and fairer society by the democratic socialism of the First Labour Government. The disaster of the Covid-19 Pandemic offers a similar transformative possibility to the Labour-NZ First-Green Government. Seize the time, Jacinda! You will never have a better ...
    3 days ago
  • Skeptical Science New Research for Week #12, 2020
    Tamper with The System? Well, we already are. But there's a difference between accidentally trickling sand into a precision gearbox versus formulating a plan to alter it on the fly with improvements in mind. One action is more or less innocently unscrupulous, the other amenable to earning an easy ...
    3 days ago
  • Avoidable hospitalisations: Helping our health system get through COVID-19
    Associate Prof George Thomson, Louise Delany, Prof Nick Wilson While it is possible that New Zealand can use intense public health controls to eradicate COVID-19 from the country – we must also plan for other scenarios where thousands of New Zealanders are sick – including many urgently hospitalised.1 Better resilience ...
    SciBlogsBy Public Health Expert
    4 days ago
  • Raise the Bar: 10 questions to ask your employer proposing redundancy
    Kia ora my name is Chloe Ann-King* and I am the founder of Raise the Bar, a campaign and non-profit that gives free legal aid, advocacy and tautoko to hospitality workers in Aotearoa. Right now all over our country hospo workers are being fired at will, having shifts cut or being ...
    PosseBy chloeanneking
    4 days ago
  • An equitable way to support business
    The Herald reports that the government is planning to lend billions of dollars to large businesses to keep them operating during the pandemic. As with mortgage relief, this is necessary: we need companies to stay in business, to reduce the economic damage and help things get restarted again when this ...
    No Right TurnBy Idiot/Savant
    4 days ago
  • Hard News: Together Alone
    We're about to do something unprecedented as a nation. We hope that by taking this extraordinary action before a single life in New Zealand has been lost to the deadly novel virus we will save tens of thousands of lives. Our  lives. We'll do it together, in households, in isolation ...
    4 days ago
  • Why timing is everything: ‘A time to refrain from embracing’ starts today
    “There is a time for everything,    and a season for every activity under the heavens.”So writes the author of Ecclesiastes, a book in the Old Testament that’s counted as a ‘wisdom’ book and written as if by an unnamed king of Jerusalem. But who would have thought there would be a time ...
    PunditBy Tim Watkin
    4 days ago
  • Dealing with the Covid-19 Tsunami.
    I was surprised when the prime minister described the Economic Response to Covid-19 package as the ‘largest peacetime government spend in New Zealand's history’. Reflecting – checking through history – I realised that the term ‘spend’ was crucial and the package had no income tax cuts. Even so, it has ...
    PunditBy Brian Easton
    4 days ago
  • What about renters?
    The government today announced the latest part of its pandemic relief package: a six-month mortgage holiday for people whose incomes have been affected by the pandemic. Which is great, because these people are going to need help, and that's what the government should be doing. At the same time, it ...
    No Right TurnBy Idiot/Savant
    5 days ago
  • Living within our means.
    Years ago the Argentine sociologist Carlos Weisman wrote a book titled “Living within our Means.” It was a critique of Argentine society that focused on the paradoxical question of why, in a land of plenty, there was so much economic instability, inequality, corruption and political turmoil. His conclusion was basically ...
    KiwipoliticoBy Pablo
    5 days ago
  • Transparency and the pandemic
    Parliament will be leading by example and adjourning tomorrow after a special sitting to consider an epidemic notice and state of emergency. Day-to-day oversight of the government will be delegated to a select committee. But that's not the only overight mechanism. The OIA will still be law, and (so far) ...
    No Right TurnBy Idiot/Savant
    5 days ago
  • ‘Overjoyed’: a leading health expert on New Zealand’s coronavirus shutdown, and the challengin...
    Michael Baker, University of Otago Overjoyed. That’s not a word epidemiologists normally use, but that’s how I felt after hearing Prime Minister Jacinda Ardern’s announcement about New Zealand’s COVID-19 shutdown of everything except essential services for at least four weeks from midnight on Wednesday. More than anything, I just ...
    SciBlogsBy Public Health Expert
    5 days ago
  • One way to solve the housing crisis
    How much homelessness is caused by house hoarding? We're about to find out. The pandemic has destroyed tourism, which means that house hoarders who put their hoarded properties up as short-term tourist rentals are now offering them on the ordinary rental market:Property investors are pulling properties from Airbnb to offer ...
    No Right TurnBy Idiot/Savant
    5 days ago
  • The pros and cons of planting trees to address global warming
    This is a re-post from Yale Climate Connections by Bruce Lieberman It seems like such a simple, straightforward, empowering idea: plant trees – a lot of trees – all over the world, and watch the planet’s temperature fall. Who doesn’t love a tree or two, even far more – the right ...
    5 days ago
  • Not a grand coalition, but a government of national salvation
    According to Newshub, Simon Bridges is open to joining a “grand coalition” with Labour as we hunker down to go into a month long lockdown. The idea is sound. Before now, the role of the opposition was to scrutinise and oppose. In the context of what almost amounts to a ...
    PunditBy Liam Hehir
    6 days ago
  • Raise the Bar: hospitality workers & wage subsidy entitlements
    Kia ora my name is Chloe Ann-King* and I am the founder of Raise the Bar, a campaign and non-profit that gives free legal aid, advocacy and tautoko to hospitality workers in Aotearoa. Right now all over our country hospo workers are being fired at will, having shifts cut or ...
    PosseBy chloeanneking
    6 days ago
  • Lifting our game against COVID-19
    We need to be lifting our game against COVID-19. You and I need to help those working to prevent the spread of COVID-19 while they’re trying to lift the testing and treatment efforts. We don’t want to be playing this game running backwards. Best to play it solidly forward, from ...
    SciBlogsBy Grant Jacobs
    6 days ago
  • The maths and ethics of minimising COVID-19 deaths in NZ
    Prof Tony Blakely, Prof Michael Baker, and Prof Nick Wilson The NZ Government must do more to clearly articulate its COVID-19 strategy: eradication or ‘flattening the curve’ mitigation. But to do so means understanding the maths and ethics of both these strategies. In this blog, we adapt our work for ...
    SciBlogsBy Public Health Expert
    6 days ago
  • All aboard the Covid Train
    A few days ago I was starting to write something about the pandemic, which now seems unconscionable. It took the form of a letter to an agony aunt:“Dear Deidre, I have an ugly confession. I am quite excited by Covid-19.”This is how the piece went:“I’m not a psychopath, honest. Although the ...
    PunditBy Phil Vine
    6 days ago
  • 2020 SkS Weekly Climate Change & Global Warming Digest #12
    Story of the Week... Toon of the Week... Climate Feedback Article Review... Coming Soon on SkS... Climate Feedback Claim Reviews... SkS Week in Review... Poster of the Week... Story of the Week... In Just 10 Years, Warming Has Increased the Odds of Disasters The likelihood of extreme events ...
    6 days ago
  • We are all socialists now
    Last week, the government announced a $12 billion initial package to support people during the pandemic. Today, the Reserve Bank is buying government bonds - effectively printing money - to keep up the money supply during the crisis. Normally such moves would have the right apoplectic. Instead, the National Party ...
    No Right TurnBy Idiot/Savant
    6 days ago
  • A plea to experts: safeguard your role in public life
    I am a pundit, somebody who opines and comments on the news. There are no real qualifications to punditry though having a rudimentary way with words and good general knowledge helps. That is one reason there is a constant oversupply of would-be pundits and why it is quite hard to ...
    PunditBy Liam Hehir
    7 days ago
  • Enlightenment when?
    I recently encountered the following prescription from a Faculty of Education at a leading New Zealand University. At first I wondered if it was another product of the postmodern generator (http://www.elsewhere.org/journal/pomo/), designed to create gibberish in the postmodern form, but I’m told it is real: The “schooled” society: Towards the ...
    SciBlogsBy Michael Corballis
    7 days ago
  • What the Crisis Can teach Us
    The coronavirus pandemic has of course had a major impact on individual lives and on societies as a whole. But, long after the crisis has passed (assuming it does), we will begin to realise that its real and lasting significance lies in the lessons it has taught us, if only ...
    Bryan GouldBy Bryan Gould
    7 days ago
  • Hammering home measures to stop COVID-19
    COVID-19 has plunged Aotearoa New Zealand (indeed, the world) into territory that, while maybe not totally unprecedented, certainly hasn’t been seen during the lifetimes of most of us here today. Our borders are closed to non-citizens, we’re being told not to gather in groups of more than 500 outside/100 inside, ...
    PunditBy Andrew Geddis
    1 week ago
  • What does ‘level two’ mean – and why does it matter?
    For the last few weeks, I’ve been urging you to prepare yourself, your family, business, and community for Covid-19. Now it’s time for real action.  Yesterday the director-general of health Dr Ashley Bloomfield announced another 13 confirmed cases of Covid-19 in New Zealand, bringing our total to date to 52. ...
    SciBlogsBy Siouxsie Wiles
    1 week ago
  • 2020 SkS Weekly Climate Change & Global Warming News Roundup #12
    A chronological listing of news articles linked to on the Skeptical Science Facebook Page during the past week, i.e., Sun, Mar 15, 2020 through Sat, Mar 21, 2020 Editor's Pick Now Isn’t the Time to Forget About Our Climate Change Efforts   Tasha Tilberg, Lindsey Wixson, and Liu Wen photographed ...
    1 week ago
  • Is the Guardian becoming  a real newspaper again?
    by Jan Rivers The article has been corrected to show that it was Ewen MacAskill, former Guardian journalist and not Luke Harding who travelled to meet Edward Snowden with journalist Glenn Greenwald and filmmaker Laura Poitras.  Some of the Guardian’s well-known journalists who did not sign the protest letter are ...
    RedlineBy Daphna
    1 week ago
  • Life asserts itself regardless
    by Cultural Worker Late March 2020 amidst the virus. With gigs crashing and burning all around it was without much hope that I called a long standing rest home booking: “ Hi, I’m supposed to be entertaining at your place this afternoon – is it still on?” “”If you don’t ...
    RedlineBy Daphna
    1 week ago
  • Politics, the possible, and the pandemic
    Whenever people demand real change from their politicians, we're told that "politics is the art of the possible". The implication is that change isn't possible, so we'd better just get used to the sucky status quo. But now that there's a pandemic, a lot of things we were previously told ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • The Only Way Through This Crisis Is Together.
    Together: In leading New Zealand through the Covid-19 Pandemic, the Prime Minister could do a lot worse than allow herself to be guided by the spirit of collective sacrifice and co-operation that animated the New Zealanders of 80 years ago. Most Kiwis alive today have had no opportunity to prove their ...
    1 week ago
  • GFC vs Covid-19
    It is said that generals fight the last war. In the case of the early stages of the Global Financial Crisis (GFC) they had learned from the Great Depression of the 1930s and they fought intelligently and successfully. Later their advice would be ignored in favour of the Austerians who ...
    PunditBy Brian Easton
    1 week ago
  • Nobody Left Behind.
    Solidarity Forever: All over the world, the arrival of the Covid-19 virus has exposed the fragility of the walls we erect around ourselves and our loved ones. It has shattered our illusions of autonomy and revealed to us how utterly dependent we all are on other human-beings. Finally, we see ...
    1 week ago
  • Rebuilding a truly “Democratic” counter, or a “moderate Republican” bolt-hol...
    Looking across the various arguments for/against the leading candidates to take the Democratic Nomination, you might honestly be very hard pressed to tell. There are a number of things that have now started happening since Amy Klobuchar and “Mayor Pete” Buttigieg both threw the towel in and immediately (and ...
    exhALANtBy exhalantblog
    1 week ago
  • Abortion law reform a win for women
    by Daphna Whitmore Abortion is no longer in the Crimes Act in New Zealand. The law reform passed yesterday and now abortion is a medical matter between a woman and her doctor. Many women’s groups and progressive people have campaigned for reform for decades. The women’s liberation movement and some ...
    RedlineBy Daphna
    1 week ago
  • How to spot bogus science stories and read the news like a scientist
    Doug Specht, University of Westminster and Julio Gimenez, University of Westminster When fake news, misreporting and alternative facts are everywhere, reading the news can be a challenge. Not only is there plenty of misinformation about the coronavirus pandemic, climate change and other scientific topics floating around social media, you also ...
    SciBlogsBy Guest Author
    1 week ago
  • Why New Zealand needs to continue decisive action to contain coronavirus
    Michael Baker, University of Otago and Nick Wilson, University of Otago With some of the toughest border restrictions and a newly-announced NZ$500 million boost to health services, New Zealand is among a small number of countries with a strategy to contain the COVID-19 pandemic. New Zealand is also fortunate in ...
    SciBlogsBy Public Health Expert
    1 week ago
  • Parliament and the pandemic II
    As expected, the government has introduced a sessional order to allow Parliament to operate during the pandemic. You can read it on the Order Paper here, but the short version is that questions and motions can be filed electronicly, select committees can work remotely, and the the Business Committee can ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • When a virus goes viral: pros and cons to the coronavirus spread on social media
    Axel Bruns, Queensland University of Technology; Daniel Angus, Queensland University of Technology; Timothy Graham, Queensland University of Technology, and Tobias R. Keller, Queensland University of Technology News and views about coronavirus has spread via social media in a way that no health emergency has done before. Platforms like Twitter, Facebook, ...
    SciBlogsBy Guest Author
    1 week ago
  • How to survive 14 days of self-isolation
    So you’ve recently returned from overseas, come into contact with someone who tested positive, got a bit of a dry cough yourself or perhaps just want to self isolate for 14 days to avoid other people who might have COVID-19. Here are a few tips and tricks to help get ...
    1 week ago
  • Abortion Legislation Bill passes third reading
    Some fave speeches:     ...
    Boots TheoryBy Stephanie Rodgers
    1 week ago
  • Why Leadership Matters – More Than Anything.
    Our Good Fortune: Precisely because she has never been an ideologue (she calls herself a “pragmatic idealist”) Jacinda Ardern has a political nimbleness and spontaneity which, when infused with her exceptional emotional intelligence, produces spectacular demonstrations of leadership. Jacinda's empathic political personality contrasts sharply with the less-than-sunny ways of her ...
    1 week ago
  • Skeptical Science New Research for Week #11, 2020
    1 week ago
  • 68-51
    The Abortion Legislation Bill has just passed its third reading, 68-51. NZ First MPs bailed because their referendum amendment didn't pass, but there were plenty of MPs to provide a majority without them. The bill is a long way from perfect - most significantly, it subjects pregnant people who need ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • The ‘herd immunity’ route to fighting coronavirus is unethical and potentially dangerous
    As most of the world tries to suppress the coronavirus spread, some countries are going it alone – trying to manage the pandemic through so-called “herd immunity”. Herd immunity means letting a large number of people catch a disease, and hence develop immunity to it, to stop the virus spreading. ...
    SciBlogsBy Guest Author
    2 weeks ago
  • Eight new COVID-19 cases today. It’s no surprise when you look at some numbers
    So, as I sit at home with a very, very slight headache (i.e. not at work when I would otherwise be so), the now familiar figure of Ashley Bloomfield reports eight new confirmed cases of COVID-19  including two in Waikato. A surprise, given that we had just twelve yesterday? No. ...
    SciBlogsBy Marcus Wilson
    2 weeks ago
  • The WINZ Paradox versus the new COVID-19 Reality: Get real people, seriously…
    Many who advocated for, and voted for, the current Coalition – particularly those who voted Labour and the Green Party – expected to see a sea change in the reality of social services. A real, deep change of attitude, approach of process through which the system negotiates the difficult and ...
    exhALANtBy exhalantblog
    2 weeks ago
  • The Air New Zealand bailout
    Stuff reports that the government is going to have to throw $2 - 3 billion at Air new Zealand to get it through the pandemic. Good. While international routes are basicly closed, Air New Zealand is a strategic asset which is vital to our tourism industry, not to mentioning airfreight. ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Why NZ’s tough coronavirus travel rules are crucial to protecting lives at home and across the Pac...
    New Zealand’s border restrictions will come with significant job and business losses in the tourism sector, both at home and in the Pacific. But the new travel rules are absolutely necessary to protect the health of New Zealanders and people right across Pacific Islands, because New Zealand is a gateway ...
    SciBlogsBy Guest Author
    2 weeks ago
  • The tiniest of teeth
    Back in early 2018, as a shoddy legal tactic to try and avoid the prisoner voting ban being formally declared inconsistent with the BORA by the Supreme Court, Justice Minister Andrew Little floated the idea of greater legal protection for human rights. When the Supreme Court case didn't go the ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • One simple, common factor to success against COVID-19
    Professor Philip Hill and Associate Professor James Ussher Most infectious diseases have an Achilles heel, the secret is to find it. The question is if we don’t have a drug or a vaccine for COVID-19, is there something else we can do to beat it? Some people estimate that, without ...
    SciBlogsBy Guest Author
    2 weeks ago
  • National should isolate Simon Bridges
    The Coalition Governments $12.1 billion economic package to help combat the financial effects of COVID-19 was generally well received across the board, even amongst many business leaders who would normally be critical of a Labour led Government.However there was one glaringly obvious exception, Simon Bridges. The so-called leader of the ...
    2 weeks ago
  • How testing for Covid-19 works
    With confirmed cases of Covid-19 in New Zealand up to 12, many influential people are writing open letters and opinion pieces and doing press conferences asking why we aren’t pulling out all the stops and testing thousands of people a day like they are in South Korea. The thing is, ...
    SciBlogsBy Siouxsie Wiles
    2 weeks ago
  • The COVID-19 package and the limits of capitalism
    by Daphna Whitmore The willingness to put human life before business shows that sometimes capitalism is capable of suspending its relentless drive for profit. For a short time it can behave differently. Flatten the curve is the public health message since COVID-19 suddenly overwhelmed the hospital system in northern Italy. ...
    RedlineBy Daphna
    2 weeks ago
  • Black April, May and June?
    Worldwide, the 1918 influenza epidemic – wrongly called ‘Spanish’ flu – lasted about two years. However, it lasted about six weeks in New Zealand (remembered as ‘Black November’, because the dead turned a purplish-black). It is thought about 7000 Pakeha died and 2,500 Maori. The population mortality rate was about ...
    PunditBy Brian Easton
    2 weeks ago
  • COVID 19 has struck… as has a lot of terrible ineptitude from far too many
    In a world and a time when the worst off and most vulnerable have been asked, time and again, to foot the bill for the complete subjugating to the will of the 1% thanks to the GFC, at a point where the world as a whole is now seeing quite ...
    exhALANtBy exhalantblog
    2 weeks ago
  • What’s in the Coronavirus Package?
    With the economy already reeling from a crisis that’s barely begun, the Government today sought to provide reassurance to workers and businesses in the form of a massive phallic pun to insert much-needed cash into the private sector and help fight the looming pandemic. Here are the key components: $5.1 ...
    The CivilianBy admin
    2 weeks ago
  • I just had my benefit suspended during a fucking pandemic
    I am a member of the working poor and so still need state welfare to make rent. So I had booked an appointment for yesterday with my caseworker at Work and Income New Zealand (WINZ) to apply for a transition to work grant. However the current health advice in New ...
    PosseBy chloeanneking
    2 weeks ago
  • A good first step
    Today the government announced a financial package to deal with the effects of the pandemic. So far, it looks good: an initial $500 million for health to deal with immediate priorities, wage subsidies for affected businesses, $585 a week from WINZ for people self-isolating who can't work from home, and ...
    No Right TurnBy Idiot/Savant
    2 weeks ago

  • Week That Was: COVID-19 Alert Level 4
    The COVID-19 situation in New Zealand is moving fast - and to avoid what we've seen overseas - the Government's response must be to move fast too. We're committed to keeping New Zealanders safe and well-informed every step of the way. ...
    20 hours ago
  • SPEECH: Green Party Co-leader James Shaw – Ministerial statement on State of National Emergency an...
    Thank you, Mr. Speaker.  The scale of what we face right now is unlike anything we have ever seen before. Overcoming it is our common purpose. ...
    4 days ago
  • Winston Peters urging New Zealanders overseas to stay put
    Foreign Minister Winston Peters is encouraging New Zealanders overseas to stay where they are amid the COVID-19 pandemic. "We are reaching a point where the best option for most New Zealanders offshore is to shelter in place, by preparing to safely stay where they are.” "This includes following the instructions ...
    5 days ago
  • New Zealanders overseas encouraged to shelter in place
    Rt. Hon. Winston Peters, Deputy Prime Minister, Minister of Foreign Affairs Foreign Minister Winston Peters is encouraging the tens of thousands of New Zealanders travelling overseas to consider sheltering in place, in light of COVID-19.  “Since 18 March, we have been warning New Zealanders offshore that the window for flying ...
    5 days ago
  • Ground-breaking abortion law passes, giving NZers compassionate healthcare
    Ground-breaking law has passed that will decriminalise abortion and ensure women and pregnant people seeking abortions have compassionate healthcare. ...
    2 weeks ago
  • Package supports Kiwis to put collective health first
    The Green Party says that the measures announced by the Government today will help families and businesses to prioritise our collective health and wellbeing in the response to COVID-19. ...
    2 weeks ago
  • Winston Peters: COVID-19 rescue package ‘more significant’ than any worldwide
    As New Zealanders brace for a global downturn due to Covid-19, Deputy Prime Minister Winston Peters says his Coalition Government’s rescue package "more significant" than any other he's seen around the world. The Coalition is to reveal a multi-billion-dollar stimulus plan on Tuesday afternoon designed to cushion the economic blow ...
    2 weeks ago
  • Our response to COVID-19
    We know some people are feeling anxious about COVID-19. While the situation is serious, New Zealand has a world-class health system and we’re well-prepared to keep New Zealanders safe. ...
    2 weeks ago
  • ‘Demerit Points System’ will address youth crime
    Darroch Ball MP, Spokesperson for Law and Order A New Zealand First member’s bill drawn from the ballot today seeks to overhaul the youth justice system by instigating a system of demerit points for offences committed by young offenders. “The ‘Youth Justice Demerit Point System’ will put an end to ...
    2 weeks ago
  • Investment in kingfish farming
    Hon. Shane Jones, Minister for Regional Economic Development The Provincial Growth Fund is investing $6 million in a land-based aquaculture pilot to see whether yellowtail kingfish can be commercially farmed in Northland, Regional Economic Development Minister Shane Jones announced today. A recirculating land-based aquaculture system will be built and operated ...
    2 weeks ago
  • 1BT grants for Northland planting
    Hon. Shane Jones, Minister for Forestry Forestry Minister Shane Jones has announced two One Billion Trees programme grants of more than $1.18 million to help hapu and iwi in Northland restore whenua and moana. “Many communities around Aotearoa have benefited from One Billion Trees funding since the programme was launched ...
    2 weeks ago
  • New Zealand reaffirms support for Flight MH17 judicial process
    Rt. Hon. Winston Peters, Deputy Prime Minister, Minister of Foreign Affairs Ahead of the start of the criminal trial in the Netherlands on 9 March, Foreign Minister Winston Peters has reaffirmed the need to establish truth, accountability and justice for the downing of Flight MH17 ...
    2 weeks ago
  • PGF investment in green hydrogen
    Rt. Hon. Winston Peters, Deputy Prime Minister The Government is investing $19.9 million through the Provincial Growth Fund in a game-changing hydrogen energy facility in South Taranaki, Deputy Prime Minister Winston Peters announced today. “The development of alternative energy initiatives like this one is vital for the Taranaki region’s economy. ...
    2 weeks ago
  • Coronavirus support for Pacific
    Rt. Hon. Winston Peters, Minister for Foreign Affairs Foreign Affairs Minister Winston Peters says New Zealand is partnering with countries in the Pacific to ensure they are prepared for, and able to respond to the global threat of Coronavirus (COVID-19). “There are currently no confirmed cases of COVID-19 in the ...
    2 weeks ago
  • Green Party passes landmark law to ensure deaf and disabled voices heard equally in democracy
    Chlöe Swarbrick's Members Bill to support disabled general election candidates has passed into law. ...
    3 weeks ago

  • Tariff concessions on COVID-19 related products
    New Zealand will temporarily remove tariffs on all medical and hygiene imports needed for the COVID-19 response. Trade and Export Growth Minister David Parker and Commerce and Consumer Affairs Minister Kris Faafoi said today that the New Zealand Customs Service will apply tariff concessions to all diagnostic reagents and testing ...
    BeehiveBy beehive.govt.nz
    20 hours ago
  • Clarification of modification to wage subsidy scheme
    Minister of Finance Grant Robertson has clarified that the changes to the wage subsidy scheme announced yesterday mean that employers should be passing on the full subsidy to workers, except in the case where the person’s normal income is less than the level of the subsidy. “We still want employers ...
    BeehiveBy beehive.govt.nz
    22 hours ago
  • Face masks flowing to DHBs
    Medical face masks from the national reserve supply are now being distributed to District Health Boards, while at the same time local production is being ramped up. Yesterday more than 640,000 masks were sent to DHBS – that is an immediate two week supply, with more to follow in coming ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • COVID-19: Further steps to protect New Zealanders’ jobs
    The Government has made modifications to the wage subsidy scheme to ensure people don’t lose their jobs during the national lockdown. These changes will soften the impact of COVID-19 on workers, families and businesses, and position them to exit the lockdown and look to recovery, Finance Minister Grant Robertson says. ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Tax relief for Mycoplasma Bovis farmers
    Farmers whose herds were culled in response to the outbreak of Mycoplasma bovis will be able to minimise the tax treatment of their income in some circumstances. Revenue Minister Stuart Nash says Cabinet has agreed to change the law. It means farmers may be eligible to spread their income over ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • $27 million for NGOs and community groups to continue providing essential services
    A $27 million dollar package, effective immediately, is being provided to social sector services and community groups to ensure they can continue to provide essential support to communities as we stay at home as a nation to stop the spread of COVID-19, Minister for Social Development Carmel Sepuloni announced. “At ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Statement on guilty plea of March 15 terrorist
    “The guilty plea today will provide some relief to the many people whose lives were shattered by what happened on March 15,” Prime Minister Jacinda Ardern said. “These guilty pleas and conviction bring accountability for what happened and also save the families who lost loved ones, those who were injured, ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • COVID-19 updates
    The Prime Minister is holding daily press conferences to update New Zealanders on the Government's response to COVID-19. Links to videos and transcripts of these updates below. These transcripts also include All of Government press conferences led by Director Ministry of Health's Director-General of Health Dr Ashley Bloomfield. 25 March: Live update from the Prime ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Police numbers break through 10,000 mark
    Frontline Police numbers have broken through the 10,000 mark for the first time in history as officers step forward to keep the community safe during the COVID19 lockdown. “Two Police graduations in Auckland and Wellington in the past week have been conducted in unprecedented circumstances,” Police Minister Stuart Nash said. ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Urgent tax measures for economic recovery
    Urgent legislation has been passed to support the package of economic and social measures needed to recover from the impact of the coronavirus outbreak. “The COVID-19 Response (Taxation and Social Assistance Urgent Measures) Bill will cushion New Zealanders from the worst economic impacts of the COVID-19 outbreak,” said Revenue Minister ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Further support for farmers and growers as drought persists
    From tomorrow, Government support for farmers and growers affected by drought will be expanded and extended across the country, with access to Rural Assistance Payments (RAPS) available throughout the North Island, parts of the South Island and the Chatham Islands, Social Development Minister Carmel Sepuloni announced. “These challenging conditions have ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • COVID-19: Temporary changes to Education Act
    Parliament has passed amendments to legislation that give the Secretary of Education stronger powers to act in the fight to limit the spread of COVID-19, Education Minister Chris Hipkins said today. “They are part of a suite of changes passed under the COVID-19 Response (Urgent Management Measures) Legislation Bill,” Chris ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Canada, Australia, Chile, Brunei and Myanmar join NZ and Singapore in committing to keeping supply a...
    Canada, Australia, Chile, Brunei and Myanmar have joined forces with New Zealand and Singapore by committing to keep supply chains open and remove any existing trade restrictive measures on essential goods, especially medical supplies, in the face of the Covid-19 crisis.  Trade and Export Growth Minister David Parker today welcomed ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • COVID-19: Rent increase freeze and more protection for tenants
    Immediate freeze on rent increases Tenancies will not be terminated during the lock-down period, unless the parties agree, or in limited circumstances Tenants who had previously given notice can stay in their if they need to stay in the tenancy during the lock-down period Tenants will still be able to ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Working together to protect businesses and workers
    As New Zealand unites to lock-down in the fight against COVID-19, the Finance Minister is urging all businesses and workers to stay connected over the next four weeks. “We understand the extreme pressure many businesses are under right now. I know most business owners think of their workers as family ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • State of National Emergency declared to fight COVID-19
    A State of National Emergency has been declared across the country as the Government pulls out all the stops to curtail the spread of COVID-19. “Today we put in place our country’s second ever State of National Emergency as we fight a global pandemic, save New Zealanders’ lives and prevent ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Prime Minister’s statement on State of National Emergency and Epidemic Notice
    Mr Speaker I wish to make a Ministerial Statement under Standing Order 347 in relation to the recent declaration of a State of National Emergency. Having considered the advice of the Director Civil Defence Emergency Management, the Minister of Civil Defence declared a State of National Emergency for the whole of ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Deadline for domestic travel extended
    People needing to travel on domestic flights, trains and Cook Strait ferries to get home before the country moves into level 4 lock-down tomorrow night will be able to continue using the passenger services until midnight on Friday, Transport Minister Phil Twyford said today. Domestic passenger services, particularly ferries, have ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Mortgage holiday and business finance support schemes to cushion COVID impacts
    The Government, retail banks and the Reserve Bank are today announcing a major financial support package for home owners and businesses affected by the economic impacts of COVID-19. The package will include a six month principal and interest payment holiday for mortgage holders and SME customers whose incomes have been ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Government working to keep air freight moving
    Minister of Transport Phil Twyford has today announced details of the Government’s support package to keep key air freight moving and ensure New Zealanders retain access to essential goods during the four-week level 4 lockdown. “The Government is working with airlines and air freight operators to ensure New Zealand’s key ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • New Zealand moves to COVID-19 Alert Level 3, then Level 4 in 48 hours
    New Zealand moved up to COVID-19 Alert Level 3 – Restrict New Zealand to move up to COVID-19 Alert Level 4 – Eliminate, in 48 hours Two-staged approach to give people and businesses time to prepare  Level 3, from tomorrow Non-essential businesses must close All events and gatherings must be ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Prime Minister: COVID-19 Alert Level increased
    Good afternoon  The Cabinet met this morning to discuss our next actions in the fight against COVID-19.  Like the rest of the world, we are facing the potential for devastating impacts from this virus. But, through decisive action, and through working together, do we have a small window to get ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Govt takes significant economic decisions as NZ readies for Alert Level 4 in COVID-19 fight
    The Government is announcing significant further support for the economy, workers and businesses as the country unites to prepare for Alert Level 4 in the fight against COVID-19. Cabinet today agreed to remove the cap on the Government’s wage subsidy scheme, which will inject a further $4 billion into the ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Govt backs RBNZ move to support economy with lower interest rates
    The Government is backing the Reserve Bank’s latest action to support the economy by reducing longer-term interest rates, meaning lower costs for businesses and mortgage holders, and a lower currency to help our exporters. The Minister of Finance has signed a memorandum of understanding and a letter of indemnity with ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Government statement on commercial cooperation during COVID-19
    The Government has asked the Commerce Commission to take account of the exceptional circumstances created by COVID-19 when monitoring business behaviour in coming weeks.   “The purpose of my request to the Commerce Commission is to make sure businesses can work together in ways that will allow them to provide ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • New Zealand temporarily closes diplomatic posts in Barbados and Myanmar due to COVID-19
    The New Zealand Government has temporarily closed its High Commission in Bridgetown, Barbados and its Embassy in Yangon, Myanmar due to the COVID-19 pandemic, Foreign Minister Winston Peters says.   “Due to the increasing scarcity of air links in and out of Bridgetown and Yangon, and the pressure COVID-19 is placing ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Supporting Māori communities and businesses through
    Associate Health and Whānau Ora Minister Peeni Henare has today announced the Government’s plan to support Māori communities and businesses in the face of COVID-19. “Our Government’s $12.1 billion economic package will help many Māori whānau, workers and businesses, whether it’s through wage subsidies, income support and worker redeployment, or ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Guidelines for hospitality establishments released
    The Government and the hospitality industry have worked together to produce guidelines to assist with managing and reducing transmission of COVID-19, Health Minister David Clark announced today.  The guidelines developed between the Government, Hospitality New Zealand and SkyCity Entertainment Group, set out how the new restrictions on physical distancing and ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Nation steps up to COVID-19 Alert Level 2
    Four stage Alert System for COVID-19 announced New Zealand moved up to COVID-19 Alert Level 2 – Reduce Contact New Zealanders over 70 and those with certain medical conditions told to stay at home as much as they can to reduce risk of contact with the virus Workplaces to implement ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • PM Address – Covid-19 Update
    Kia ora koutou katoa I’m speaking directly to all New Zealanders today to give you as much certainty and clarity as we can as we fight Covid-19. Over the past few weeks, the world has changed. And it has changed very quickly. In February it would have seemed unimaginable to ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • NZ and Singapore commit to keeping supply and trade links open, including on essential goods and med...
    New Zealand and Singapore have jointly committed to keep supply chains open and to remove any existing trade restrictive measures on essential goods, especially medical supplies, in the face of the Covid-19 crisis. Trade and Export Growth Minister David Parker welcomed the commitment. “This is an important collective response, and ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Joint Ministerial Statement by Singapore and New Zealand -Covid-19 situation
    JOINT MINISTERIAL STATEMENT BY SINGAPORE AND NEW ZEALAND AFFIRMING COMMITMENT TO ENSURING SUPPLY CHAIN CONNECTIVITY AMIDST THE COVID-19 SITUATION  The COVID-19 pandemic is a serious global crisis.  As part of our collective response to combat COVID-19, Singapore and New Zealand are committed to maintaining open and connected supply chains. We ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Transit between Australia and New Zealand
    Travel restrictions, closing our border to almost all travelers came into force from 23:59 on Thursday 19 March 2020 (NZDT).  All airlines were informed of these restrictions before they came into force. Immigration Minister Iain Lees-Galloway says “The transit of passengers between Australia and New Zealand has been agreed upon and ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • $100 million to redeploy workers
    The Government has allocated $100 million to help redeploy workers affected by the economic impact of COVID-19, with the hard-hit region of Gisborne-Tairāwhiti to be the first helped, Economic Development Minister Phil Twyford, Forestry and Regional Economic Development Minister Shane Jones and Employment Minister Willie Jackson announced today. Phil Twyford ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • More support for wood processing
    The Provincial Growth Fund (PGF) is ramping up support for Tairāwhiti’s wood processing sector to bolster the region’s economy at a time of heightened uncertainty, Regional Economic Development Minister Shane Jones announced today. Following earlier announcements today of a regional support package for Tairāwhiti, Minister Jones has also announced a ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Govt steps in to protect Air New Zealand
    The Coalition Government has stepped in to protect Air New Zealand with a significant financial deal that protects essential routes and allows the company to keep operating. The Government and Air New Zealand have agreed a debt funding agreement through commercial 24-month loan facilities of up to $900 million*. The ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Stronger border measures to protect NZers from COVID-19
    The Government has taken further measures to protect New Zealanders from the COVID-19 virus, effectively stopping all people from boarding a plane to New Zealand from 11:59pm today, except for returning New Zealanders, Prime Minister Jacinda Ardern announced today.  New Zealanders’ partners, legal guardians or any dependent children travelling with ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Action on indoor gatherings and events to protect public health
    The Government has reinforced its commitment to protecting the health of New Zealanders from COVID-19 through the cancellation of indoor events with more than 100 people.  “Protecting the health of New Zealanders is our number one priority, and that means we need to reduce the risks associated with large gatherings,” ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • New Zealanders advised not to travel overseas
    The New Zealand Government is advising New Zealanders not to travel overseas due to COVID-19, Foreign Minister Winston Peters has announced. “We are raising our travel advice to the highest level: do not travel,” Mr Peters said. “This is the first time the New Zealand Government has advised New Zealanders ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Govt announces aviation relief package
    Transport Minister Phil Twyford today outlined the first tranche of the $600 million aviation sector relief package announced earlier this week as part of the Government’s $12.1 billion COVID-19 economic response. The initial part of the aviation package aims to secure the operators of New Zealand’s aviation security system, and ...
    BeehiveBy beehive.govt.nz
    1 week ago