web analytics

Chart o’ the day: the real world

Written By: - Date published: 9:54 am, August 2nd, 2011 - 68 comments
Categories: capitalism - Tags:

Sources- Statistics NZ trade figures. Reserve Bank foreign exchange turnover.

68 comments on “Chart o’ the day: the real world”

  1. vto 1

    This should be front page news and linked directly to John Key.

    What does Key have to say about it? I mean currency trade is supposed to be about support of trade etc, however it is quite clear that near 95% of currency trade is 100% pure speculation.

    Talk about non-productive shit.

    • mikesh 1.1

      The chart doesn’t tell us where “invisibles” come. In the left block or the right block. Assuming they are in the right block then we don’t know how much of that block is actual speculation.

  2. Afewknowthetruth 2

    ‘This should be front page news and linked directly to John Key.’

    You have got to be dreaming!

    The prime function of the corporate-owned media is to keep all fundamental truths well hidden and keep the proles distracted with trivia. And make a profit out of it.

    99% of the populace don’t even realise: they actually pay money to be distracted and misinformed. That’s how successful the corporate misinformation system is.

    • Gosman 2.1

      Perhaps you can suggest that the next left led government could set up a ministry for truth so that the ‘correct’ view of the world can be put forward.

      • Colonial Viper 2.1.1


        Actually, re-introducing not for profit news media media channels would do it.

        • felix

          “Back in reality” was for Gos, not you btw. Public news channels are definitely needed.

      • felix 2.1.2

        Back in reality, giving bodies like the BSA a few more teeth to deal with the accuracy of reporting mightn’t be a bad idea.

      • Ianupnorth 2.1.3

        Even when there is truth, knowledge that is generated from robust academic research the current government choose not to believe it and do the opposite of what is recommended!

    • vanakast 2.2

      Except that this, like the media, leaves out a huge amount of information. A lot of the media isn’t corporately owned, it’s publically funded, and it certainly isn’t all right-wing.

  3. JustMal 3

    Nice chart. Whats the source, be interested to know if there is any historical information available (ie, would like to look at how its changed over the last few years)

  4. ghostwhowalksnz 4

    Why else would Key say you can do nothing , as a former currency trader thats what they want.

    The small margins on huge speculative flows and the ‘carriage’ trade are what he made his fortune on. Being paid massive bonuses based on the profit for his company.

    I see an opening for Winston Peters here, as Labour sits on its hands regarding currency speculation.
    Its right up Peters street to rail against the ‘big money speculators’ and the effect its having on average kiwis. Watch this space

    • Gosman 4.1

      New Zealand used to strictly control the currency by setting it’s value against the US Dollar. That didn’t stop the speculators causing a run against it in 1984.

      You just need to look at Zimbabwe, (where currency speculation was made illegal pre 2008), to see what would happen if you attempted to do something similar here.

      You can’t eliminate a market were there is a need for it.

      • mik e 4.1.1

        Yeah right again Gossip Man telling porkies again . make it up as you go Gossman. its hardly wort replying to BS Zimbabwe was a totally different scenario nothing faintly similar to NZ 1984 .You say you have worked for different investment banks what as cleaner or tea lady.Muldoon was playing games with the opposition while they were waiting in the wings. Muldoom borrowed and hoped us into a corner not unlike Bill English and Roger Douglas.Zimbabwe lost most of its productive sector and there were to few goods in the market due to his nihilistic behavior .The opposite was true of Muldoon we had to many goods and couldn’t sell them. Goossman your under standing is a joke your claims to have worked for big investment banks is an even bigger joke!

        • Gosman

          You have no idea about what happened in Zimbabwe with regard the currency there do you mik e? Well that much is clear from your response.

          So to educate you a little – what the Government there tried to do for a number of years, especially between 2000 and 2008 was to set the price of the Zimbabwe dollar, in essence to fix it.

          The trouble was the dollar is only worth what the market is willing to pay for it, not what a Government official decides it is worth.

          Zimbabwe found that out the hard way when the official market dried up and people took their money to the black market instead.

          NZ learned a similar lesson in 1984 when Muldoon refused to let the market determine a more realistic value of the currency.

  5. Which chart, the meaningless one at the top, or the electionresults one just underneath?

    The top one has virtually no information so it’s impossible to tell what it relates to, the other is an “if the eelction was today” sort of scenario that also has limited meaning because if an election was today many people would be thinking differently about how they might vote.

    • Pascal's bookie 5.1

      So all your, (what would it be, dozens?), of comments about what the polls tell us are actually meaningless Pete?

  6. freedom 6

    i know it is bashing my head against a brick wall but a structure based on financial renumeration is no way to run an Election Poll. I-Predict is a stock exchange. People have a commercial interest in the results. If that does not skew the content then i don’t know what would. How can it be at all accurate when people always will, always can and always do manipulate stocks to make money.

    It might be fun for those taking part but being touted around the place as a poll device to show how voters may or may not be behaving is not what we need when trying to kick a Trader out of office.

    • Gosman 6.1

      So make some money by betting against the bias in the market. It would seem to be a no brainer but one which lefties seem to fail to grasp.

      • freedom 6.1.1

        Gosman, there is a popular starfish who is less obtuse than you
        that is why i am saying it is an unreliable tool for reporting polling, d’uh

        • Gosman

          You don’t understand the market do you?

          The value of these things are dependent on the real event. Hence if it is totally skewed because of the bias you claim exists then it would be easy to make a killing by basing your bets on what you think the actual reality is.

          • Colonial Viper

            “make a killing”

            what by inflating the value of our dollar to the point that our real tech exporters whither and die?

            Thanks, but the NZD should not be used as just another chip in the ludicrous world finance casino.

          • felix

            He’s explained his point twice now Gos. Please read it this time.

            • Gosman

              Ummm… his point, if I read him correctly, is that I-predict is bollox because of the underlying bias of the people in the market. However if there does exist such a bias, as the basis of the market is real world outcomes, it would be easy to make money by betting against the market.

              For example if I-predict is suggesting that National will win the election by 10 percentage points and you think this is bollox and as a result of inbuilt bias then bet that it will be less than that or even that Labour will win. you will get quite good rate on that and therefore make a nice tidy sum.

              Now what is so hard for you to understand about that?

              • felix

                “Ummm… his point, if I read him correctly, is that I-predict is bollox because of the underlying bias of the people in the market.”

                Then no, you don’t understand his point correctly. Have another crack at it.

                And this time, read the words first then figure out what’s being said.

                • Gosman

                  How abou you, (or freedom) tell me what the point is because –

                  “I-Predict is a stock exchange. People have a commercial interest in the results. If that does not skew the content then i don’t know what would. How can it be at all accurate when people always will, always can and always do manipulate stocks to make money.”

                  Seems to indicate pretty clearly that freedom was trying to claim that I-predict is inaccurate because of the nature of the people engaged in the market.

                  Where in that passage is there anything remotely suggesting something other than what I have suggested it means?

                  • felix

                    I don’t see anything there about a bias in the market. Try again.

                    • Gosman

                      Ummmm….. freedom was trying to state the I-predict market doesn’t relect reality because of this manipulation – that means the market is biased.

                    • Colonial Viper

                      Not sure if ‘biased’ is the right word, but its certainly not a ‘free market’ in terms of transparency or efficiency 🙂

                    • felix

                      No Gos, not in the way you’re implying.

                    • Gosman

                      So felix explain exactly what freedom’s point was if not stating that I-predict is a biased market (i.e. one which reflects more a particular view of a select number of market participants rather than the underlying reality).

                    • felix

                      Here’s what you said, Gos: (you don’t mind, do you?)

                      his point, if I read him correctly, is that I-predict is bollox because of the underlying bias of the people in the market.

                      Stop yer wriggling and read it fer yerself.

                    • Gosman

                      You have till to tell me what freedom’s point was if not that I-Predict does not reflect reality because of the underlying bias of people in that market to attempt to manipulate it for financial ends.

                      So what was his point felix?

                    • felix

                      Oh ffs you’re never going to get it on your own, are you?

                      The money isn’t made and lost according to any “real event” as you put it, that’s for the suckers.

                      The money is made on the way up and on the way down. Movement is all that matters.

                      It’s not real Gos. You’re either being taken for a ride or you’re trying to pull the wool. Either way you’re full of shit.

                    • Gosman

                      So please explain how all that is reflected in freedom’s statement “How can it [i.e. I-predict] be at all accurate when people always will, always can and always do manipulate stocks to make money”?

                      It seems quite clear from that single sentence that freedom doesn’t think I-predict is an accurate reflection of the underlying reality.

                      Which was exactly my point. If freedom doesn’t think this then take advantage of this fact and place bets that more accurately reflects reality.

                  • freedom

                    I will use small words ok.
                    It is a Stock Market -so it is flawed as a device for polls.

                    An exchange where trading is conducted

                    An inquiry into public opinion conducted by interviewing a random sample of people

                    do you see the difference?

                    • Gosman

                      Then make money on this flaw.

                      It is quite simple really freedom. I-predict will pay out when something in the real world becomes more likely to happen. You sell as the event becomes more likely to happen and if you are correct then as more information comes to light then this will be reflected in the price.

                      You think it doesn’t reflect accurately the chance of this thing happening because of the way it has been baised by market participants in their efforts to make money.

                      However if it isn’t pricing correctly because of this reason it offers you and prime opportunity to make some cash by betting on something with better than even odds.

                      Let me put it another way for you using a real life example. Some people made a killing in Hong Kong horse race betting because to Chinese people cerain numbers are lucky and certain are unlucky. So Horses that had the number 8, (which I believe is very lucky), received more money than they may have warrented because of form. Hence if you had a good betting strategy you could beat the market.

                    • lprent []

                      Why bother gambling? Who cares.

                    • Gosman

                      Life is a gamble lprent. Human activity is driven by risk and reward.

                      As for why freedom should care, essentially I was advising freedom to put the money where the writing skills were. If what freedom was stating was correct then I-predict is a market ripe to be expolited by someone who takes advantage of the distortions.

                    • lprent []

                      Oh I agree that it is a shallow market that would be easy to exploit. My point was that as a market it also carries no real meaning outside of making money. Why would I or freedom want to participate? That is why it is shallow – because it is designed for shallow people. You can tell – they show Act getting significiant vote… 😈

                      If I have time or effort or resources to expend on a political party then I can and do that directly. If I have something to say on the political process I can and do that directly as well.

                      For that matter if I want to support a company I often just go and work for them or directly buy their shares – many interesting companies aren’t listed in any market.

  7. Lindsay 7

    Ever since we have had a floating exchange rate specualtion in foreign exchange made up approx 95% of all FE trades. It is a zero sum game, the winners = the loosers.
    We should put a tax on it as was suggested by the economist Tobin, ie the Tobin Tax.

    • freedom 7.1

      Just desserts
      The real lunacy of the modern Markets, be it crops, cash, diamonds or debt, is how the majority of trading now occurs with no human pause of consideration or thoughts of redress to the
      ramifications of the investment. In times past a Trader’s house was a fancy restaurant that most would speak of in hush reverie and maybe get to see once or twice on those very special occassions that colour one’s life. They were always a busy place.

      Friends and foes would gather, some arriving by ship, or plane, some by private car, some on public trains but all could walk in the gate knowing as long as the bill could be paid, they had as fair a chance as the next guy to get a table. The Traders were there to facilitate the transaction and it happened at the physically-constrained speed of the human. Even with the advent of digital technology into the markets, there was always a human to show the menu, take the order and deliver the desserts. The Trader may have slowed the course during a run on apple pie or softened a call for more baklava and pushed out a tiramisu, but not today.

      Today the market is Algorithm. A monument to avarice. You get to look in through a slit in the wall and shout an order for a cheeseburger but never again will you see the front door. It doesn’t matter if you have a jacket & tie, there are no longer any tables open in the dining room. If you are quick and don’t mind the smell, there are some spots on the back terrace by the bins.
      Your experience of the party is now well and truly that of an outsider.

      Inside, Crab Platters of digital delectations are being cracked crunched chomped swallowed and excreted before the Human Trader even saw the option was on the table.

      Do you want fries with that?

      • Gosman 7.1.1

        What are you on freedom?

        When was this supposed magical happy time when people visited a traders luxury appointed house to spend a few memorable and life changing moments?

        • freedom

          its a bloody analogy. Way to ruin a creative day you pinhead.

          For Gosman: or, Comprehension for toddlers

          In days past if you had a few bucks you could trade and people controlled the trades. Now if you have a few bucks you have a computer trading autonomously for you.

          • Gosman

            You really have no idea about the history of the market do you.

            Markets have tended to be loud, messy, busy places where people shout and jostle and attempt to get the best deals for themselves. You just need to look at market places in third world nations to realise that.

            In short your polyyannaish world never existed.

            • Bored

              Methinks you confuse a useful thing such as a market with a useless thing such as a a casino. Anybody working in a market will tell you it works best in a win win fair trade scenario where something useful changes hands. A casino on the other hand pits you on an all or nothing win lose scenario.

              • Gosman

                No I think you mistake a market for a bureaucratic clearing house.

                Markets are whatever people want them to be. Even if you attempt to control them or make them illegal they will still exist in whatever form the people involved in them want.

                That is why Socialists could never, and can never, control the black market. I suspect you think the black market is a bad thing.

                • Bored

                  FFSake Gos, you are a total pillock. I work in markets. I do real business stuff in them, and I know speculation when I see it. Even do some. You get some real life stuff poked at you and you go off about beaurocrats….I never even mentioned them. Where did that tosh come from?

                  Then its the “socialist” call. FFSake again. I said markets were useful…sounds a very socialist statement dont you think? Thats just the point, you dont think.

                  Then the “black market” comment. Are you getting desparate?

                  • Colonial Viper

                    Funny this is, capitalists can’t control black markets either.

                    Look what happened when the completely opaque, undisclosed, unregulated multi-trillion dollar black market in financial derivatives collapsed in 2008.

                    Threatened to take down the entire global economy.

                    Going to happen again in the next 6 months I’d say.

                    And lets not even talk about the market in illicit drugs in capitalist ol’ NZ.

                    Lesson: GOS has NO IDEA what he is talking about.

            • freedom

              Why are you such a literal and close-minded individual ? I know that the world i sometimes allude to has never existed you complete moron, if it did do you think people like myself would bother to be fighting for one. Gosman you are without doubt one of the most obstinate children i have ever attempted to communicate with.

              You talk of a free market that has never been free. You say you want a level playfield yet put the goalposts on a bank. You blather on about the wastrels that are the left and how they never amount to anything real. If real is the world that i see around us and that is all it will ever be, and that satisfies you then i despair for your heart Gosman, i really do.

              • Gosman

                So what was the point of raising the idea of times past when you now admit they never existed and doesn’t reflect the reality of the human condition when it comes to commercial interactions between two or more people?

                Why didn’t you just state that was where you dream, (and it is a dream), humans could get to at some indeterminate time in the future?

          • Gosman

            Your analogy does highlight why left wing people never understand the market because they think they can tame and civilise human nature in some utopian vision of love and light.

            • Colonial Viper


              Actually that’s why you have market regulations and rules; because Lefties know very well that human nature can be cruel and unkind to the vulnerable and powerless.

            • mik e

              Of course its nothing to do with internal hyper inflation and the fact Zimbabwe has no productive sector . I suspect that the wheel barrows of cash got to much for them and they went back to bartering it was never going to work in a country like Zimbabwe using it as an example shows the futility of your argument!

              • Gosman

                Zimbabwe had a large non-agricultural productive sector mik e. It was the second largest in SADC until the early 2000. It was Zanu-PF’s policy of fixing the dollar, inefficient SOE’s, and excessive size of the Zimbabwe state that destroyed it and led to the Hyper inflation. Zanu-PF’s land grab starting in 2000 only accelerated the decline of what was already in a very parlous state.

                • Bored

                  Gos, much as I dont like the Zimmers business have you ever considered that what you were watching that lead to the hyper inflation was the ending of a century old invasion and imposed system? Perhaps the natives just got plain pissed off with it and did not care about the money and foreign interests reactions. To me it looks like a very high price to pay to get rid of invaders and their systems but who knows? Did you lose a farm?

                  • Colonial Viper

                    Bored, economic collapse always occurs when the serfs and the coloureds get uppity.

    • Colonial Viper 7.2

      It is a zero sum game, the winners = the loosers.

      Uh, not true, our real economy exporters have been slaughtered by the high dollar and the variability in our dollar.

      Having our dollar >US60c has meant hundreds of thousands of jobs destroyed.

      If we were smart like Singapore we would peg the dollar to a (secret) basket of foreign currencies and weight its movements to achieve our national economic goals.

      • Lindsay 7.2.1

        For the speculators it is a zero sum game, the gains = the looses.

        • Colonial Viper

          Sure I get that bit, but who gives a shit when the speculators create collateral carnage in the real economy and in real businesses?

          btw I support a Tobin Tax or something very similar.

  8. Adrian 8

    Let’s tax the fuckers. A Financial Trading Tax at ONLY one tenth of 1% on this figure would bring in $265 million a month or $3.18 billion a year. Although once instigated it would slow the trade down, so we wouldn’t get so much but at least the NZD would be at a sensible price, because at the current level it is going to send exporters to the wall and cost thousands of jobs.

    • DonKey 8.1

      But Adrian, the speculators are the “wealth creators” and randian heroes of the national economy. We mustn’t scare them away with nasty taxes,

      Let’s cut public services so that they can drain our economy more, the little people won’t mind

    • Colonial Viper 8.2

      Indeed sometimes the benefit of a new tax is not how much money it brings in, but the behaviours it incentivises.

      Just like the CGT :mregreen:

  9. mik e 9

    Just about every other country is intervening in its currency using many different devices .China has no problem setting it currency so all its productive sectors can make a steady profit. The only ones that make a steady profit in New Zealand are the untaxed speculators . They are nothing but leaches on the productive sectors !New Zealand is one of the very few countries that allow the productive sector to be annihilated every time one of our sectors stars making a profit so hence we borrow more to keep the economy afloat which makes the currency more volatile

    • Dan 9.1

      Sorry, but if you’re going to claim that someone is ‘profiting’ from the dollar, then you better include consumers, which is pretty much everyone. Oil would be at least a dollar more expensive if the USD were to fall by 30c, which would impact every good in the country. So consumers do benefit from the higher dollar too.

  10. vto 10

    Just remember, it always go volatile just before the meltdown…

  11. Matthew Hooton 11

    Zetetic – I am sure your graph is accurate but the point I think you are trying to make is wrong. It is the so-called speculators who keep the currency relatively stable. If there were no speculators, everytime Air New Zealand bought a new plane or Fonterra brought back dividends from its offshore investors, the currency would swing massively. The speculators means that such transactions don’t singificantly affect the value of the currency. This means, ironically, that real businesspeople – eg Air New Zealand, Fonterra, etc – can rely on the value of the currency much more than if the speculators weren’t involved. This seems a stretch at 88c but its still true!

    • Gosman 11.1

      Yes but our lefty friends on the whole don’t understand the benefit of having liquid markets Matthew.

      To many of them all speculation is inherently evil and should be stamped out. Prices should be set at fair value and managed under the auspices of a benevolent and just Government agency.

    • vto 11.2

      That is a point he has, tangential and minor

Recent Comments

Recent Posts

  • New Zealand First disappointed that Section 70 spouses won’t get relief
    Rt Hon Winston Peters, Leader of New Zealand First New Zealand First is disappointed that the removal of the spousal deductions has had to be delayed by the Ministry fo Social Development, due to COVID19 workload pressures. “New Zealand First has always stood for fairness when it comes to superannuation ...
    1 day ago
  • Winston Peters receives petition demanding more protection for nurses
    Rt Hon Winston Peters, Leader of New Zealand First On the steps of Parliament today the Leader of New Zealand First, Rt Hon Winston Peters received a petition from registered nurse Anna Maria Coervers, requesting an amendment to the Protection for First Responders Bill which will ensure the legislation also include registered ...
    1 day ago
  • Week That Was: Getting our economy moving
    It's been a busy seven days as we start to rebuild New Zealand together. From delivering extra support for small businesses, to investing in our artists and arts organisations, to cutting red tape on home DIY projects, we're rolling out our plan to get the economy and New Zealand moving ...
    2 days ago
  • Winston Peters: If protests condoned ‘why are we not at level 1?’
    Deputy Prime Minister Winston Peters says alert level 2 restrictions have to be discussed during today's Cabinet meeting. Thousands gathered across the country, including at Parliament, yesterday for Black Lives Matter marches where social distancing and mass gathering rules were flouted. Mr Peters said the breaching of Alert Level 2 rules at ...
    2 days ago
  • Northland rail work to help create regional jobs
    Rt Hon Winston Peters, Deputy Prime Minister, Minister of State Owned Enterprises KiwiRail’s Northland rail upgrade steps up another gear today and will help Northland recover from the impacts of COVID-19, State Owned Enterprises Minister Winston Peters says. The Government is investing $204.5 million through the Provincial Growth Fund to ...
    3 days ago
  • Green Party statement on the death of George Floyd
    “Today and every day we stand in solidarity with George Floyd’s family, friends and community who feel pain and fear about his untimely death at the hands of Minneapolis police”, said Green Party Co-leader and Māori Development spokesperson Marama Davidson. ...
    3 days ago
  • Lake Brunner’s Mount Te Kinga to go Predator Free
    Fletcher Tabuteau, Parliamentary Under-Secretary for Regional Economic Development Hon Eugenie Sage, Minister of Conservation The West Coast forests of Mount Te Kinga at Kotuku Whakaoho/Lake Brunner are the latest predator free project to receive Government funding, announced Minister of Conservation Eugenie Sage and Under Secretary for Regional Economic Development Fletcher ...
    6 days ago
  • Green Party welcomes crucial financial support for creatives
    The Green Party says new government support for creatives and artists is a vital lifeline for a sector struggling to survive the COVID crisis. ...
    6 days ago
  • Strongest ever water reforms mean swimmable rivers within a generation
    The Green Party says major freshwater reforms announced today provide the strongest ever protections of our waterways, to help ensure the next generation can swim in the rivers of Aotearoa. ...
    7 days ago
  • Greens work to secure inquiry into Wild West student accommodation sector
    The Green Party has begun the process for a Select Committee inquiry into student accommodation, which has been exposed during COVID-19 as an under-regulated sector that straddles students with unfair debt. ...
    1 week ago
  • New Zealand joins global search for COVID-19 vaccine
    Rt Hon Winston Peters, Deputy Prime Minister, Minister of Foreign Affairs Hon Megan Woods, Minister of Research, Science and Innovation Hon Dr David Clark, Minister of Health Foreign Affairs Minister Winston Peters, Research, Science and Innovation Minister Megan Woods,  and Health Minister David Clark today announced a COVID-19 vaccine strategy, ...
    1 week ago
  • Budget 2020: Five things to know
    Budget 2020 is about rebuilding together, supporting jobs, getting business moving and the books back into the black. It’s an integral part of our COVID-19 economic response, and our plan to grow our economy and get New Zealand moving again. Here’s a quick look at the five top things you ...
    1 week ago
  • Coalition Government approves essential upgrades on Ōhakea Air Base
    The Coalition Government has approved $206 million in essential upgrades at Ōhakea Air Base.  Defence Minister Ron Mark said the money would be spent on improving old infrastructure. He said safety issues would be addressed, as well as upgrades to taxiways, accommodation and fresh, storm and waste water systems. "This ...
    2 weeks ago
  • Attributable to the Rt Hon Winston Peters
    Rt Hon Winston Peters, Leader of New Zealand First “I am not persisting with this case just for myself, but for all people who have had their privacy breached. Privacy of information is a cornerstone of our country’s democracy. Without it our society truly faces a bleak future. We now ...
    2 weeks ago
  • Forestry Minister Shane Jones moves to protect sawmills
    Forestry Minister Shane Jones has introduced a Bill to Parliament that he says will "force more transparency, integrity and respect" for the domestic wood-processing sector through the registration of log traders and practice standards. The Forests (Regulation of Log Traders and Forestry Advisers) Amendment Bill had its first reading in ...
    2 weeks ago
  • Green MP joins international call to cancel developing countries’ debt
    Green MP Golriz Ghahraman is joining over 300 lawmakers from around the world in calling on the big banks and the IMF to forgive the debt of developing countries, in the wake of the COVID crisis. ...
    3 weeks ago
  • Forestry Minister Shane Jones swipes back at billion trees critics
    Forestry Minister Shane Jones says concerns that carbon foresters are planting pine trees that will never be harvested are the result of "misinformation". "The billion tree strategy is an excellent idea, unfortunately from time to time it's tainted by misinformation spread by the National Party or their grandees, hiding in scattered ...
    3 weeks ago
  • Budget boost for refugee families a win for compassion
    The Green Party welcomes funding in the budget to reunite more refugees with their families, ensuring they have the best chance at a new life in Aotearoa New Zealand. ...
    3 weeks ago
  • How Budget 2020 is supporting jobs
    This year’s Budget is about rebuilding New Zealand together in the face of COVID-19. Jobs are central to how we’re going to do that.There’s a lot of targeted investment for employment in this year’s Budget, with announcements on creating new jobs, training people for the jobs we have, and supporting ...
    3 weeks ago

  • Free period products in schools to combat poverty
    Young people in Waikato will be the first to have free access to period products in schools in another step to support children and young people in poverty,” Prime Minister Jacinda Ardern said.  During term 3, the Ministry of Education will begin providing free period products to schools following the ...
    BeehiveBy beehive.govt.nz
    11 hours ago
  • Response to charges in New Plymouth
    The Minister of Police Stuart Nash has issued the following statement in response to charges filed against three Police officers this morning in the New Plymouth District Court. “Any incident involving a loss of life in Police custody is taken very seriously. The charges today reflect the gravity of the ...
    BeehiveBy beehive.govt.nz
    13 hours ago
  • Temporary changes to NCEA and University Entrance this year
    Further temporary changes to NCEA and University Entrance (UE) will support senior secondary school students whose teaching and learning have been disrupted by COVID-19. “The wellbeing of students and teachers is a priority. As we are all aware, COVID-19 has created massive disruption to the school system, and the Government ...
    BeehiveBy beehive.govt.nz
    15 hours ago
  • Extended terms for the directors of the Racing Industry Transition Agency
    Minister for Racing Winston Peters today announced that the terms for the directors of the Racing Industry Transition Agency (RITA) have been extended to 30 June 2021. Due to the COVID-19 crisis the transition period has been extended to ensure that the Racing Industry Bill can complete its progress through ...
    BeehiveBy beehive.govt.nz
    16 hours ago
  • Healthy Homes Standards statement of compliance deadline extended
    The deadline for landlords to include detailed information in their tenancy agreements about how their property meets the Healthy Homes Standards, so tenants can see the home they are renting is compliant, has been extended from 1 July 2020 to 1 December 2020.  The Healthy Homes Standards became law on 1 July 2019. The Standards are ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Criminal Cases Review Commission board appointments announced
    Justice Minister Andrew Little today announced details of further appointments to the Criminal Cases Review Commission. “I am pleased to announce Paula Rose QSO OStJ as Deputy Chief Commissioner for a term of five years commencing on 15 June 2020,” said Andrew Little. “I am also pleased to announce the ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Release of initial list of supported training to aid COVID-19 recovery
    The Targeted Training and Apprenticeships Fund (TTAF) will pay costs of learners of all ages to undertake vocational education and training The fund will target support for areas of study and training that will give learners better employment prospects as New Zealand recovers from COVID-19 Apprentices working in all industries ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Emission trading reforms another step to meeting climate targets
    The Emissions Trading Scheme (ETS) will finally start to cut New Zealand’s greenhouse gas pollution as it was originally intended to, because of changes announced today by the Minister for Climate Change, James Shaw. The changes include a limit on the total emissions allowed within the ETS, rules to ensure ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Queen’s Birthday Honours highlights Pacific leadership capability in Aotearoa
    Minister for Pacific Peoples Aupito William Sio says the Queen’s Birthday 2020 Honours List provides an abundance of examples that Pacific people’s leadership capability is unquestionable in Aotearoa. “The work and the individuals we acknowledge this year highlights the kind of visionary examples and dedicated community leadership that we need ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Govt backing horticulture to succeed
    The Government is backing a new $27 million project aimed at boosting sustainable horticulture production and New Zealand’s COVID-19 recovery efforts, says Agriculture Minister Damien O’Connor. “Our horticulture sector has long been one of New Zealand’s export star performers, contributing around $6 billion a year to our economy. During and ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Applications open for forestry scholarships
    Applications have opened for 2021 Ngā Karahipi Uru Rākau – Forestry Scholarships, which will support more Māori and women to pursue careers in forestry science, says Forestry Minister Shane Jones. “I’m delighted Te Uru Rākau is offering Ngā Karahipi Uru Rākau – Forestry Scholarships for the third year running. These ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Excellent service to nature recognised
    The Queen’s Birthday 2020 Honours List once again highlights the dedication by many to looking after our native plants and wildlife, including incredible work to restore the populations of critically endangered birds says Minister of Conservation Eugenie Sage. Anne Richardson of Hororata has been made an Officer of the New ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Wetlands and waterways gain from 1BT funding
    The Government will invest $10 million from the One Billion Trees Fund for large-scale planting to provide jobs in communities and improve the environment, Agriculture Minister Damien O’Connor and Forestry Minister Shane Jones have announced. New, more flexible funding criteria for applications will help up to 10 catchment groups plant ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • New fund for women now open
    Organisations that support women are invited to apply to a new $1,000,000 fund as part of the Government’s COVID-19 response. “We know women, and organisations that support women, have been affected by COVID-19. This new money will ensure funding for groups that support women and women’s rights,” said Minister for ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Govt supports King Country farmers to lift freshwater quality
    Healthier waterways are front and centre in a new project involving more than 300 King Country sheep, beef and dairy farmers. The Government is investing $844,000 in King Country River Care, a group that helps farmers to lift freshwater quality and farming practice, Agriculture Minister Damien O’Connor announced today. “Yesterday ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Libraries to help with jobs and community recovery
    A major funding package for libraries will allow them to play a far greater role in supporting their communities and people seeking jobs as part of the economic recovery from COVID-19. “Budget 2020 contains over $60 million of funding to protect library services and to protect jobs,” says Internal Affairs ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Support for arts and music sector recovery
    A jobseekers programme for the creative sector and four new funds have been set up by the Government to help our arts and music industry recover from the blow of COVID-19. Thousands of jobs will be supported through today’s $175 million package in a crucial economic boost to support the ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Legislative changes to support the wellbeing of veterans and their families
    Minister for Veterans Ron Mark has welcomed the First Reading of a Bill that will make legislative changes to further improve the veterans’ support system.  The Veterans’ Support Amendment Bill No 2, which will amend the Veterans’ Support Act 2014, passed First Reading today. The bill addresses a number of ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Christ Church Cathedral – Order in Council
    Views sought on Order in Council to help fast track the reinstatement of the Christ Church Cathedral  The Associate Minister for Greater Christchurch Regeneration, Hon Poto Williams, will be seeking public written comment, following Cabinet approving the drafting of an Order in Council aimed at fast-tracking the reinstatement of the ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • New Zealanders’ human rights better protected in new Bill
    The law setting out New Zealanders’ basic civil and human rights is today one step towards being strengthened following the first reading of a Bill that requires Parliament to take action if a court says a statute undermines those rights. At present, a senior court can issue a ‘declaration of ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Deep concern at Hong Kong national security legislation
    Foreign Affairs Minister Winston Peters today reiterated the deep concern of the New Zealand Government following confirmation by China’s National People’s Congress of national security legislation relating to Hong Kong. “New Zealand shares the international community’s significant and long-standing stake in Hong Kong’s prosperity and stability,” Mr Peters said. “New Zealand ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Government invests in New Zealand’s cultural recovery
    Thousands of artists and creatives at hundreds of cultural and heritage organisations have been given much-needed support to recover from the impact of COVID-19, Prime Minister and Minister for Arts, Culture and Heritage Jacinda Ardern announced today. “The cultural sector was amongst the worst hit by the global pandemic,” Jacinda ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Better protection for New Zealand assets during COVID-19 crisis
    Key New Zealand assets will be better protected from being sold to overseas owners in a way contrary to the national interest, with the passage of the Overseas Investment (Urgent Measures) Bill. The Bill, which passed its third reading in Parliament today, also cuts unnecessary red tape to help attract ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Cleaning up our rivers and lakes
    Setting higher health standards at swimming spots Requiring urban waterways to be cleaned up and new protections for urban streams Putting controls on higher-risk farm practices such as winter grazing and feed lots Setting stricter controls on nitrogen pollution and new bottom lines on other measures of waterway health Ensuring ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Record year for diversity on Govt boards
    The Government is on the verge of reaching its target of state sector boards and committees made up of at least 50 percent women, says Minister for Women Julie Anne Genter and Minister for Ethnic Communities Jenny Salesa. For the first time, the Government stocktake measures the number of Māori, ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • New appointments to the Commerce Commission
    The Commerce and Consumer Affairs Minister and Broadcasting, Communications and Digital Media Minister, Kris Faafoi, has today announced the appointment of Tristan Gilbertson as the new Telecommunications Commissioner and member of the Commerce Commission. “Mr Gilbertson has considerable experience in the telecommunications industry and a strong reputation amongst his peers,” ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Historic pay equity settlement imminent for teacher aides
    The Ministry of Education and NZEI Te Riu Roa have agreed to settle the pay equity claim for teacher aides, Education Minister Chris Hipkins announced today. This will see more than 22,000 teacher aides, mostly women, being valued and paid fairly for the work they do. “Teacher aides are frontline ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Govt delivers security for construction subcontractors
    Subcontractors will have greater certainty, more cashflow support and job security with new changes to retention payments under the Construction Contracts Act says Minister for Building and Construction, Jenny Salesa. A recent review of the retentions money regime showed that most of the building and construction sector is complying with ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • New Zealand and Singapore reaffirm ties
    Prime Minister Jacinda Ardern and Singapore Prime Minister Lee Hsien Loong have marked the first anniversary of the New Zealand-Singapore Enhanced Partnership with a virtual Leaders’ Meeting today. The Enhanced Partnership, signed on 17 May 2019, provides the framework for cooperation across the four main areas of trade, defence and ...
    BeehiveBy beehive.govt.nz
    1 week ago
    On 17 May 2019, New Zealand and Singapore established an Enhanced Partnership to elevate our relations. The Enhanced Partnership – based on the four pillars of trade and economics, security and defence, science, technology and innovation, and people-to-people links – has seen the long-standing relationship between our countries strengthen over the ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Government investment supports the acquisition of new Interislander ferries
    State-Owned Enterprises Minister Winston Peters has welcomed KiwiRail’s announcement that it is seeking a preferred shipyard to build two new rail-enabled ferries for the Cook Strait crossing. “This Government is committed to restoring rail to its rightful place in New Zealand. Bigger, better ships, with new technology are yet another ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Better protection for seabirds
    Better protection for seabirds is being put in place with a new National Plan of Action to reduce fishing-related captures, Fisheries Minister Stuart Nash and Conservation Minister Eugenie Sage announced today.   The National Plan of Action for Seabirds 2020 outlines our commitment to reduce fishing-related captures and associated seabird ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Milestone in cash flow support to SMEs
    Almost $1 billion in interest-free loans for small businesses More than 55,000 businesses have applied; 95% approved Average loan approx. $17,300 90% of applications from firms with ten or fewer staff A wide cross-section of businesses have applied, the most common are the construction industry, accommodation providers, professional firms, and ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Government protects kids as smoking in cars ban becomes law
    Thousands of children will have healthier lungs after the Government’s ban on smoking in cars with kids becomes law, says Associate Minister of Health Jenny Salesa. This comes after the third reading of Smoke-free Environments (Prohibiting Smoking in Motor Vehicles Carrying Children) Amendment Bill earlier today. “This law makes it ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Parliament returns to a safe normal
    The special Epidemic Response Committee (ERC) has successfully concluded its role, Leader of the House Chris Hipkins said today. The committee was set up on 25 March by the agreement of Parliament to scrutinise the Government and its actions while keeping people safe during levels 4 and 3 of lockdown. ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Foreign Minister makes four diplomatic appointments
    Foreign Affairs Minister Winston Peters today announced four diplomatic appointments: New Zealand’s Ambassador to Belgium, High Commissioners to Nauru and Niue, and Ambassador for Counter-Terrorism. “As the world seeks to manage and then recover from COVID-19, our diplomatic and trade networks are more important than ever,” Mr Peters said. “The ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • New Bill to counter violent extremism online
    New Zealanders will be better protected from online harm through a Bill introduced to Parliament today, says Internal Affairs Minister Tracey Martin. “The internet brings many benefits to society but can also be used as a weapon to spread harmful and illegal content and that is what this legislation targets,” ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Mycoplasma bovis eradication reaches two year milestone in good shape
    New Zealand’s world-first plan to eradicate the cattle disease Mycoplasma bovis is on track the latest technical data shows, says Agriculture and Biosecurity Minister Damien O’Connor. “Two years ago the Government, DairyNZ and Beef + Lamb New Zealand and industry partners made a bold decision to go hard and commit ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • New payment to support Kiwis through COVID
    Further support for New Zealanders affected by 1-in-100 year global economic shock 12-week payment will support people searching for new work or retraining Work programme on employment insurance to support workers and businesses The Government today announced a new temporary payment to support New Zealanders who lose their jobs due ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • PGF reset helps regional economies
    The Provincial Growth Fund will play a vital role in New Zealand’s post-COVID-19 recovery by creating jobs in shorter timeframes through at least $600 million being refocused on projects with more immediate economic benefits, Regional Economic Development Minister Shane Jones has announced. The funding is comprised of repurposed Provincial Growth ...
    BeehiveBy beehive.govt.nz
    2 weeks ago