C’mon Grant
Written By:
- Date published:
10:40 am, November 18th, 2020 - 51 comments
Categories: business, capitalism, climate change, Economy, employment, grant robertson, jobs, Keynes, labour, Media -
Tags: reserve bank
This government must demonstrate that it has the ability to lead the New Zealand economy where it has stated it wants it to go. It does not want more headlines like the average house in Auckland now being priced at $1 million.
With the Reserve Bank off the chain, there’s no sign of that ability to lead much.
The concern that the Reserve Bank chose to provide another $28 billion in unrestricted loans to banks has caused left and right to unify in concern this week. That’s how bad it’s got.
To get to Dr Cullen first.
Dr Cullen is really clear that the Reserve bank is not only misdirected and out of control, but also that the Minister of Finance doesn’t appear to have the will to alter their course. The changes to the Reserve Bank Act in 2019 gave the government the power to direct the Monetary Policy Committee to pursue other objectives than price stability and ‘maximum sustainable employment’. Dr Cullen says that “to use this new power is, essentially, the nuclear option in the operation of monetary policy.”
The Minister of Finance and the Governor of the Reserve bank both signed this remit last year of the Monetary Policy Committee on a single page. This joint statement says:
Our priority is to move towards a low carbon economy, with a strong diversified export base, that delivers decent jobs with higher wages and reduces inequality and poverty.”
Read that text again slowly.
Dr Cullen is pointing out that when the Reserve Bank is deliberately putting untagged money into this economy, the result is to make a housing price boom even worse. It’s not achieving any of the government’s stated economic aims.
Now, I sure ain’t slagging the Reserve Bank off at this point. Pretty much everyone near a bank was pretty happy that the Governor Mr Orr intervened to provide stability in providing $30 billion to banks in March this year.
That March intervention shows that the Reserve Bank can and does act to restore financial stability to banks being able to actually get debt to lend. But having used the “nuclear option” once, as Dr Cullen puts it, it doesn’t want to stop pressing that big red button again.
Through 2020 plenty of people from left and right have talked about quantitative easing as a great way to form a new orthodoxy for running an economy. We were supposed not to worry about flooding new debt into banks because rapid inflation was dead. But what’s happened is that fresh mortgage money has caused hyper-house-inflation. House prices are going up so fast that they are stripping New Zealanders of their last hope of financial independence.
We are way, waaay overdue an economic summit that enables the government to show that it actually has the collected powers remaining to lead this economy and this country towards its economic goal stated above. That doesn’t mean entirely breaking the independence of the Reserve Bank of New Zealand. It just means showing that you have the capacity and will to engage hard with the problem: to show you can form policy with public debate that prepares the ground for large policy changes.
As Dr Cullen notes in his column, what was considered orthodox in the operation of monetary policy has moved a long way since 2008. That there is no economic policy brains trust operating at the top of this government is screamingly obvious right now: even an old medium-dry like Dr Cullen is sounding fresh at this point.
Nor do we see our Finance Minister forcefully pulling its Wellington leadership into line. We need to see Minister Robertson point to Mr Orr and point out bluntly: Me Dog, You Tail. Maybe he needs to repeat it: Me Dog, You Tail.
Which brings me back to National’s Andrew Bayly. His statement about the need to rein in the Reserve Bank sounds remarkably like a progressive from the Labour Party wrote it.
Because there is no requirement for that $28 billion put into the banking system to flow into productive parts of the economy, the new funding “will flow straight into the already unaffordable housing market, when it could and should go towards new house builds, local business and our agriculture and horticulture sectors.”
It is the view of the National party that “the Reserve Bank can, and should, be requiring banks to direct this new funding into productive parts of the economy, particularly business lending. We have seen this happen in Australia.”
The Australian Reserve Bank governor foresaw the risks of Quantitiative Easing and set them out in November last year. He saw a blurring of lines between monetary and fiscal policy as an issue if the central bank was buying large amounts of government debt at zero interest rates could be seen as money-financed government spending. “This could damage the credibility of a country’s institutional arrangements and create political tensions. Political tensions can also arise if the central bank’s asset purchases are seen to disproportionally benefit banks and wealthy people, at the expense of the person in the street.”
That’s fairly prescient, as well as honest.
He was also quite clear with the Australian Federal and State leadership that they needed to stop propping up businesses with wage subsidies and start investing in actual projects with actual jobs with a focus on infrastructure projects, maintenance of existing assets, and spending on skills. In other words, use debt for productive stuff not used for more property investor mortgages.
Our RB must heed that and do the same. Now, of course we can say that because house prices also rose under both Dr Cullen and under National that we should just discount their opinions. But they are both right. As is the Australian Reserve Bank Governor.
We don’t have to put out an amateur wish-list of what we think will solve the housing crisis. We do have the right to say to both Minister Roberston and Adrian Orr: stop trying to put out a fire with gasoline.
Thank God Dr Cullen is.
We should pay greater heed to Dr Cullen that Andrew Bayly because Dr Cullen had the policy chops to face massive financial challenges and help solve them for most of us with far-sighed initiatives.
Dr Cullen pushed for the creation of the New Zealand Superannuation Fund. This recognised the risk associated with our current system where universal retirement superannuation benefits are funded by the current working population. The fund has developed into a well-respected and well-performing sovereign wealthfund which has set a high standard in socially responsible investing.
He pushed for the creation of KiwiSaver. He recognised that a widespread employment-based savings scheme was the best way to help Kiwis save for their own retirement. It incorporated the latest behavioural finance thinking in its design – incentives without compulsion. Over half of New Zealand now has a Kiwisaver account, and collectively we have amassed nearly $60 billion in or Kiwisaver accounts. It has provided so many New Zealanders with the opportunity to build a diversified investment base and take responsibility for much more of their own retirement.
He also formed the Portfolio Investment Entity (PIE) tax regime, which restored equality of capital gains between investing individuals and professionally managed portfolios.
He faced really hard economic problems and implemented strong policy and altered our entire economic direction.
This government hasn’t tried any structural policy innovation even close to what Dr Cullen has done.
More leaders are stating strongly that it’s time they showed they can. And will.
51 comments on “C’mon Grant ”
- Comments are now closed
- Comments are now closed
CommentsOpinions
Recent Comments
FeedsPartyGovtMedia
- Fact brief – Are we heading into an ‘ice age’?
Skeptical Science is partnering with Gigafact to produce fact briefs — bite-sized fact checks of trending claims. This fact brief was written by Sue Bin Park from the Gigafact team in collaboration with members from our team. You can submit claims you think need checking via the tipline. Are we heading ...6 hours ago - As Our Power Lessens: Published
So the Solstice has arrived – Summer in this part of the world, Winter for the Northern Hemisphere. And with it, the publication my new Norse dark-fantasy piece, As Our Power Lessens at Eternal Haunted Summer: https://eternalhauntedsummer.com/issues/winter-solstice-2024/as-our-power-lessens/ As previously noted, this one is very ‘wyrd’, and Northern Theory of Courage. ...11 hours ago - By Any Other Name.
The Natural Choice: As a starter for ten percent of the Party Vote, “saving the planet” is a very respectable objective. Young voters, in particular, raised on the dire (if unheeded) warnings of climate scientists, and the irrefutable evidence of devastating weather events linked to global warming, vote Green. After ...16 hours ago - Bernard’s last Saturday Soliloquy for 2024
The Government cancelled 60% of Kāinga Ora’s new builds next year, even though the land for them was already bought, the consents were consented and there are builders unemployed all over the place. Photo: Lynn Grieveson / The KākāMōrena. Long stories short, the six things that mattered in Aotearoa’s political ...17 hours ago - Bernard’s Picks ‘n’ Mixes for Saturday, December 21
Photo by CHUTTERSNAP on UnsplashEvery morning I get up at 3am to go around the traps of news sites in Aotearoa and globally. I pick out the top ones from my point of view and have been putting them into my Dawn Chorus email, which goes out with a podcast. ...21 hours ago - 2024 OIA stats
Over on Kikorangi Newsroom's Marc Daalder has published his annual OIA stats. So I thought I'd do mine: 82 OIA requests sent in 2024 7 posts based on those requests 20 average working days to receive a response Ministry of Justice was my most-requested entity, ...1 day ago - Climate Change: A perverse incentive
The government published its first Biennial Transparency Report under the Paris Agreement yesterday, and the media has correctly noted that it is missing any plan to actually meet our target. While it hypes domestic emissions reductions so far - which have been good, but will likely get worse thanks to ...2 days ago
- Economic Bulletin December 2024
Welcome to the December 2024 Economic Bulletin. We have two monthly features in this edition. In the first, we discuss what the Half Year Economic and Fiscal Update from Treasury and the Budget Policy Statement from the Minister of Finance tell us about the fiscal position and what to ...2 days ago - NZCTU make submission in opposition to Treaty Principles Bill
The NZCTU Te Kauae Kaimahi have submitted against the controversial Treaty Principles Bill, slamming the Bill as a breach of Te Tiriti o Waitangi and an attack on tino rangatiratanga and the collective rights of Tangata Whenua. “This Bill seeks to legislate for Te Tiriti o Waitangi principles that are ...2 days ago
- ZB’s Power Couple
I don't knowHow to say what's got to be saidI don't know if it's black or whiteThere's others see it redI don't get the answers rightI'll leave that to youIs this love out of fashionOr is it the time of yearAre these words distraction?To the words you want to hearSongwriters: ...2 days ago - Austerity thumps GDP most since 1991
Our economy has experienced its worst recession since 1991. Photo: Lynn Grieveson / The KākāMōrena. Long stories short, the six things that matter in Aotearoa’s political economy around housing, climate and poverty on Friday, December 20 in The Kākā’s Dawn Chorus podcast above and the daily Pick ‘n’ Mix below ...2 days ago
- Weekly Roundup 20-December-2024
Twas the Friday before Christmas and all through the week we’ve been collecting stories for our final roundup of the year. As we start to wind down for the year we hope you all have a safe and happy Christmas and new year. If you’re travelling please be safe on ...2 days ago - The Hoon around the year to December 20, 2024
The podcast above of the weekly ‘Hoon’ webinar for paying subscribers on Thursday night features co-hosts & talking about the year’s news with: on climate. Her book of the year was Tim Winton’s cli-fi novel Juice and she also mentioned Mike Joy’s memoir The Fight for Fresh Water. ...2 days ago
- The baby-boomers’ last gasp
The Government can head off to the holidays, entitled to assure itself that it has done more or less what it said it would do. The campaign last year promised to “get New Zealand back on track.” When you look at the basic promises—to trim back Government expenditure, toughen up ...2 days ago - Skeptical Science New Research for Week #51 2024
Open access notables An intensification of surface Earth’s energy imbalance since the late 20th century, Li et al., Communications Earth & Environment: Tracking the energy balance of the Earth system is a key method for studying the contribution of human activities to climate change. However, accurately estimating the surface energy balance ...2 days ago
- Join us at 5pm for 2024’s last Hoon
Photo by Mauricio Fanfa on UnsplashKia oraCome and join us for our weekly ‘Hoon’ webinar with paying subscribers to The Kākā for an hour at 5 pm today.Jump on this link on YouTube Livestream for our chat about the week’s news with myself , plus regular guests and , ...2 days ago - Christmas Gifts: Ageing Boomers, Laurie & Les, Talk Politics.
“Like you said, I’m an unreconstructed socialist. Everybody deserves to get something for Christmas.”“ONE OF THOSE had better be for me!” Hannah grinned, fascinated, as Laurie made his way, gingerly, to the bar, his arms full of gift-wrapped packages.“Of course!”, beamed Laurie. Depositing his armful on the bar-top and selecting ...3 days ago
- GDP Figures No Christmas Present for New Zealand
Data released by Statistics New Zealand today showed a significant slowdown in the economy over the past six months, with GDP falling by 1% in September, and 1.1% in June said CTU Economist Craig Renney. “The data shows that the size of the economy in GDP terms is now smaller ...3 days ago
- Cheeseburgers and Stunt Monkeys
One last thing before I quitI never wanted any moreThan I could fit into my headI still remember every single word you saidAnd all the shit that somehow came along with itStill, there's one thing that comforts meSince I was always caged and now I'm freeSongwriters: David Grohl / Georg ...3 days ago - MSD rejecting 220 pleas for food grants each day
Sparse offerings outside a Te Kauwhata church. Meanwhile, the Government is cutting spending in ways that make thousands of hungry children even hungrier, while also cutting funding for the charities that help them. It’s also doing that while winding back new building of affordable housing that would allow parents to ...3 days ago
- The Wing Parties’ Economic Policies.
It is difficult to make sense of the Luxon Coalition Government’s economic management.This end-of-year review about the state of economic management – the state of the economy was last week – is not going to cover the National Party contribution. Frankly, like every other careful observer, I cannot make up ...3 days ago - Back on Track
This morning I awoke to the lovely news that we are firmly back on track, that is if the scale was reversed.NZ ranks low in global economic comparisonsNew Zealand's economy has been ranked 33rd out of 37 in an international comparison of which have done best in 2024.Economies were ranked ...3 days ago - Book Review: How Big Things Get Done
This is a guest post by George Weeks, reviewing a book called How Big Things Get Done by Bent Flyvbjerg and Dan Gardner Want to know how to do something big? Ask someone who has done it before! Professor Bent Flyvbjerg has spent his career studying megaprojects. In 2023, ...3 days ago
- Gordon Campbell On Why We Can’t Survive Two More Years Of This
Remember those silent movies where the heroine is tied to the railway tracks or going over the waterfall in a barrel? Finance Minister Nicola Willis seems intent on portraying herself as that damsel in distress. According to Willis, this country’s current economic problems have all been caused by the spending ...3 days ago - Dragging our way towards the finish line, the end of this year can’t come soon enough for many…
Similar to the cuts and the austerity drive imposed by Ruth Richardson in the 1990’s, an era which to all intents and purposes we’ve largely fiddled around the edges with fixing in the time since – over, to be fair, several administrations – whilst trying our best it seems to ...3 days ago - Handling Democracy.
String-Pulling in the Dark: For the democratic process to be meaningful it must also be public. WITH TRUST AND CONFIDENCE in New Zealand’s politicians and journalists steadily declining, restoring those virtues poses a daunting challenge. Just how daunting is made clear by comparing the way politicians and journalists treated New Zealanders ...3 days ago
- Open letter to the Minister of Dwindling Finances
Dear Nicola Willis, thank you for letting us know in so many words that the swingeing austerity hasn't worked.By in so many words I mean the bit where you said, Here is a sea of red ink in which we are drowning after twelve months of savage cost cutting and ...3 days ago - Open Government: The joke ends
The Open Government Partnership is a multilateral organisation committed to advancing open government. Countries which join are supposed to co-create regular action plans with civil society, committing to making verifiable improvements in transparency, accountability, participation, or technology and innovation for the above. And they're held to account through an Independent ...4 days ago
- An unusual sort of press conference
Today I tuned into something strange: a press conference that didn’t make my stomach churn or the hairs on the back of my neck stand on end. Which was strange, because it was about the torture of children. It was the announcement by Erica Stanford — on her own, unusually ...4 days ago - This substack has talked about this government’s seeming corruption & pro-corporate issues...
This is a must watch, and puts on brilliant and practical display the implications and mechanics of fast-track law corruption and weakness.CLICK HERE: LINK TO WATCH VIDEOOur news media as it is set up is simply not equipped to deal with the brazen disinformation and corruption under this right wing ...4 days ago - NZCTU: Minister needs to listen to the evidence on engineered stone ban
NZCTU Te Kauae Kaimahi Acting Secretary Erin Polaczuk is welcoming the announcement from Minister of Workplace Relations and Safety Brooke van Velden that she is opening consultation on engineered stone and is calling on her to listen to the evidence and implement a total ban of the product. “We need ...4 days ago
- Wednesday 18 December
The Government has announced a 1.5% increase in the minimum wage from 1 April 2025, well below forecast inflation of 2.5%. Unions have reacted strongly and denounced it as a real terms cut. PSA and the CTU are opposing a new round of staff cuts at WorkSafe, which they say ...4 days ago
- Can the government change its mind on the ferries?
The decision to unilaterally repudiate the contract for new Cook Strait ferries is beginning to look like one of the stupidest decisions a New Zealand government ever made. While cancelling the ferries and their associated port infrastructure may have made this year's books look good, it means higher costs later, ...4 days ago
- Notes from Afar: Will Luxon Attend Waitangi Day? And Opposition Calls Out Nicola Willis for “C...
Hi there! I’ve been overseas recently, looking after a situation with a family member. So apologies if there any less than focused posts! Vanuatu has just had a significant 7.3 earthquake. Two MFAT staff are unaccounted for with local fatalities.It’s always sad to hear of such things happening.I think of ...4 days ago - Member’s morning
Today is a special member's morning, scheduled to make up for the government's theft of member's days throughout the year. First up was the first reading of Greg Fleming's Crimes (Increased Penalties for Slavery Offences) Amendment Bill, which was passed unanimously. Currently the House is debating the third reading of ...4 days ago
- Going Backwards
We're going backwardsIgnoring the realitiesGoing backwardsAre you counting all the casualties?We are not there yetWhere we need to beWe are still in debtTo our insanitiesSongwriter: Martin Gore Read more ...4 days ago - Blaming Treasury & Labour, Willis looks for even more Austerity
Willis blamed Treasury for changing its productivity assumptions and Labour’s spending increases since Covid for the worsening Budget outlook. Photo: Getty ImagesMōrena. Long stories short, the six things that matter in Aotearoa’s political economy around housing, climate and poverty on Wednesday, December 18 in The Kākā’s Dawn Chorus podcast above ...4 days ago
- December-24 AT Board Meeting
Today the Auckland Transport board meet for the last time this year. For those interested (and with time to spare), you can follow along via this MS Teams link from 10am. I’ve taken a quick look through the agenda items to see what I think the most interesting aspects are. ...4 days ago
- The Making of a Mental Health Rockstar
Hi,If you’re a New Zealander — you know who Mike King is. He is the face of New Zealand’s battle against mental health problems. He can be loud and brash. He raises, and is entrusted with, a lot of cash. Last year his “I Am Hope” charity reported a revenue ...4 days ago - It could have been worse
Probably about the only consolation available from yesterday’s unveiling of the Half-Yearly Economic and Fiscal Update (HYEFU) is that it could have been worse. Though Finance Minister Nicola Willis has tightened the screws on future government spending, she has resisted the calls from hard-line academics, fiscal purists and fiscal hawks ...4 days ago
- The Deep Divisions of Local Government
The right have a stupid saying that is only occasionally true:When is democracy not democracy? When it hasn’t been voted on.While not true in regards to branches of government such as the judiciary, it’s a philosophy that probably should apply to recently-elected local government councillors. Nevertheless, this concept seemed to ...4 days ago - Willis’ austerity strategy just isn’t working
Long story short: the Government’s austerity policy has driven the economy into a deeper and longer recession that means it will have to borrow $20 billion more over the next four years than it expected just six months ago. Treasury’s latest forecasts show the National-ACT-NZ First Government’s fiscal strategy of ...4 days ago
- Sabin 33 #7 – Are solar projects hurting farmers and rural communities?
On November 1, 2024 we announced the publication of 33 rebuttals based on the report "Rebutting 33 False Claims About Solar, Wind, and Electric Vehicles" written by Matthew Eisenson, Jacob Elkin, Andy Fitch, Matthew Ard, Kaya Sittinger & Samuel Lavine and published by the Sabin Center for Climate Change Law at Columbia ...4 days ago
- Join us for a pop-up Hoon at 5pm on HYEFU
4 days ago - ‘Ideas Worth Saving’: A Call for Papers
Some years ago, I found myself pondering the power of literature to endure. Or at least the power of some of it to endure, while the rest vanishes in mere decades: https://phuulishfellow.wordpress.com/2019/08/07/look-on-my-works-ye-mighty-and-despair-the-literary-future/. I have similarly had fun with the subject in some of my short stories, such as Another Alexandria ...4 days ago - Corrections is torturing prisoners again
In 1998, in the wake of the Paremoremo Prison riot, the Department of Corrections established the "Behaviour Management Regime". Prisoners were locked in their cells for 22 or 23 hours a day, with no fresh air, no exercise, no social contact, no entertainment, and in some cases no clothes and ...5 days ago
- HYEFU and BPS data shows New Zealand is way off track
New data released by the Treasury shows that the economic policies of this Government have made things worse in the year since they took office, said NZCTU Economist Craig Renney. “Our fiscal indicators are all heading in the wrong direction – with higher levels of debt, a higher deficit, and ...5 days ago
- “Better economic management”
At the 2023 election, National basically ran on a platform of being better economic managers. So how'd that turn out for us? In just one year, they've fucked us for two full political terms: The government's books are set to remain deeply in the red for the near term ...5 days ago
- Shameless, clueless
AUSTERITYText within this block will maintain its original spacing when publishedMy spreadsheet insists This pain leads straight to glory (File not found) Read more ...5 days ago - Minimum wage ‘increase’ is an effective cut
The NZCTU Te Kauae Kaimahi are saying that the Government should do the right thing and deliver minimum wage increases that don’t see workers fall further behind, in response to today’s announcement that the minimum wage will only be increased by 1.5%, well short of forecast inflation. “With inflation forecast ...5 days ago
- Crazy ’bout a Sharp-dressed Man
Oh, I weptFor daysFilled my eyesWith silly tearsOh, yeaBut I don'tCare no moreI don't care ifMy eyes get soreSongwriters: Paul Rodgers / Paul Kossoff. Read more ...5 days ago - How much should you worry about a collapse of the Atlantic conveyor belt?
This is a re-post from Yale Climate Connections by Bob Henson In this aerial view, fingers of meltwater flow from the melting Isunnguata Sermia glacier descending from the Greenland Ice Sheet on July 11, 2024, near Kangerlussuaq, Greenland. According to the Programme for Monitoring of the Greenland Ice Sheet (PROMICE), the ...5 days ago
- 8% ACT Party Creates One Ring To Rule Them All
In August, I wrote an article about David Seymour1 with a video of his testimony, to warn that there were grave dangers to his Ministry of Regulation:David Seymour's Ministry of Slush Hides Far Greater RisksWhy Seymour's exorbitant waste of taxpayers' money could be the least of concernThe money for Seymour ...5 days ago - When austerity worsens public debt & cuts GDP
Willis is expected to have to reveal the bitter fiscal fruits of her austerity strategy in the HYEFU later today. Photo: Lynn Grieveson/TheKakaMōrena. Long stories short, the six things that matter in Aotearoa’s political economy around housing, climate and poverty on Tuesday, December 17 in The Kākā’s Dawn Chorus podcast ...5 days ago
- Govt to double number of toll roads
On Friday the government announced it would double the number of toll roads in New Zealand as well as make a few other changes to how toll roads are used in the country. The real issue though is not that tolling is being used but the suggestion it will make ...5 days ago
- Luxon’s pre-emptive strike
The Prime Minister yesterday engaged in what looked like a pre-emptive strike designed to counter what is likely to be a series of depressing economic statistics expected before the end of the week. He opened his weekly post-Cabinet press conference with a recitation of the Government’s achievements. “It certainly has ...5 days ago
- Gordon Campbell On The Coalition’s Empty Gestures, And Abortion Refusal As The New Slavery
This whooping cough story from south Auckland is a good example of the coalition government’s approach to social need – spend money on urging people to get vaccinated but only after you’ve cut the funding to where they could get vaccinated. This has been the case all year with public ...5 days ago
- More public service contempt of parliament
Back in 2023 the New Zealand Council for Civil Liberties raised concerns about the inherent conflict of interest involved in public service agencies supporting parliamentary select committees. Our parliament is run on a shoestring, so depends on the public service for advice. But public service agencies work for Ministers, not ...5 days ago
- If There Is A God
And if there is a GodI know he likes to rockHe likes his loud guitarsHis spiders from MarsAnd if there is a GodI know he's watching meHe likes what he seesBut there's trouble on the breezeSongwriter: William Patrick Corgan Read more ...6 days ago - A Lipstick Government
Here’s a quick round up of today’s political news:1. MORE FOOD BANKS, CHARITIES, DOMESTIC VIOLENCE SHELTERS AND YOUTH SOCIAL SERVICES SET TO CLOSE OR SCALE BACK AROUND THE COUNTRY AS GOVT CUTS FUNDINGSome of Auckland's largest foodbanks are warning they may need to close or significantly reduce food parcels after ...6 days ago - NZCTU open letter to Treasury on undue restrictions on restricted briefings
Iain Rennie, CNZMSecretary and Chief Executive to the TreasuryDear Secretary, Undue restrictions on restricted briefings This week, the Treasury barred representatives from four organisations, including the New Zealand Council of Trade Unions Te Kauae Kaimahi, from attending the restricted briefing for the Half-Year Economic and Fiscal Update. We had been ...6 days ago
- Why you won’t hear me advocate for electric cars
This is a guest post by Tim Adriaansen, a community, climate, and accessibility advocate. I won’t shut up about climate breakdown, and whenever possible I try to shift the focus of a climate conversation towards solutions. But you’ll almost never hear me give more than a passing nod to ...6 days ago
- Coalition forced to back down on tolling Pahiatua track
A grassroots backlash has forced a backdown from Brown, but he is still eyeing up plenty of tolls for other new roads. And the pressure is on Willis to ramp up the Government’s austerity strategy. Photo: Getty ImagesMōrena. Long stories short, the six things that matter in Aotearoa’s political economy ...6 days ago
- Thank You
Hi all,I'm pretty overwhelmed by all your messages and emails today; thank you so very much.As much as my newsletter this morning was about money, and we all need to earn money, it was mostly about world domination if I'm honest. 😉I really hate what’s happening to our country, and ...6 days ago - 2024 SkS Weekly Climate Change & Global Warming News Roundup #50
A listing of 23 news and opinion articles we found interesting and shared on social media during the past week: Sun, December 8, 2024 thru Sat, December 14, 2024. Listing by Category Like last week's summary this one contains the list of articles twice: based on categories and based on ...6 days ago
- Making Gravy
I started writing this morning about Hobson’s Pledge, examining the claims they and their supporters make, basically ripping into them. But I kept getting notifications coming through, and not good ones.Each time I looked up, there was another un-subscription message, and I felt a bit sicker at the thought of ...7 days ago - Nothing here but the shadows
Once, long before there was Harry and Meghan and Dodi and all those episodes of The Crown, they came to spend some time with us, Charles and Diana. Was there anyone in the world more glamorous than the Princess of Wales?Dazzled as everyone was by their company, the leader of ...7 days ago - The United Right: the FSU’s Continued Efforts to Undermine Academia
The collective right have a problem.The entire foundation for their world view is antiscientific. Their preferred economic strategies have been disproven. Their whole neoliberal model faces accusations of corporate corruption and worsening inequality. Climate change not only definitely exists, its rapid progression demands an immediate and expensive response in order ...1 week ago
- Showing the Americans how to do it
Just ten days ago, South Korea's president attempted a self-coup, declaring martial law and attempting to have opposition MPs murdered or arrested in an effort to seize unconstrained power. The attempt was rapidly defeated by the national assembly voting it down and the people flooding the streets to defend democracy. ...1 week ago
- 2 Men, 1 Haircut
Hi,“What I love about New Zealanders is that sometimes you use these expressions that as Americans we have no idea what those things mean!"I am watching a 30-something year old American ramble on about how different New Zealanders are to Americans. It’s his podcast, and this man is doing a ...1 week ago - Chris Penk’s Hate Parade
What Chris Penk has granted holocaust-denier and equal-opportunity-bigot Candace Owens is not “freedom of speech”. It’s not even really freedom of movement, though that technically is the right she has been granted. What he has given her is permission to perform. Freedom of SpeechIn New Zealand, the right to freedom ...1 week ago - Tell me a story
All those tears on your cheeksJust like deja vu flow nowWhen grandmother speaksSo tell me a story (I'll tell you a story)Spell it out, I can't hear (What do you want to hear?)Why you wear black in the morning?Why there's smoke in the air? Songwriter: Greg Johnson.Mōrena all ☀️Something a ...1 week ago - As Our Power Lessens: Accepted
2024 is now officially my best-ever year for short stories. My 1,850-word dark fantasy piece, As Our Power Lessens, has been accepted for the upcoming solstice edition of Eternal Haunted Summer (https://eternalhauntedsummer.com/), thereby making that six published short stories for the calendar year. As always, see the Bibliography page for ...1 week ago
- Six years of work wasted – Holidays Act reform now years away
Brooke van Velden has wasted six years of work from businesses, unions, and government by binning planned Holidays Act reforms, said Acting CTU President Rachel Mackintosh in response to today’s announcement from Minister for Workplace Relations and Safety. “The Minister has cynically kicked the can on Holiday Act reform even ...1 week ago
- Come Undone?
Words, playing me deja vuLike a radio tune, I swear I've heard beforeChill, is it something real?Or the magic I'm feeding off your fingersWho do you need?Who do you love?When you come undoneSongwriters: John Taylor / Simon Le Bon / Nick Rhodes / Warren Cuccurullo.When this three-way coalition was being ...1 week ago
- National’s Greatest Misses 2023-4
National has only been in power for a year, but everywhere you look, its choices are taking New Zealand a long way backwards. In no particular order, here are the National Government's Top 50 Greatest Misses of its first year in power. ...1 day ago - Release: Minister’s plan for tertiary sector a backwards step
Returning to the model that was failing for most polytechnics and Institutes of Technology is not the answer. ...2 days ago
- Release: National buries 1019 planned homes
It’s been revealed that National has cancelled 60 percent of its housing projects planned before mid-2025 amidst housing woes. ...2 days ago
- Release: Rule-Czar bill a right-wing power grab
The Government is quietly undertaking consultation on the dangerous Regulatory Standards Bill over the Christmas period to avoid too much attention. ...2 days ago
- Release: Why not both? Luxon shuns Waitangi celebrations
Prime Minister Christopher Luxon is running away from problems of his own creation, with his decision not to go to Waitangi. ...3 days ago
- Govt’s ‘free speech’ legislation stokes fear, not freedom
The Government’s planned changes to the freedom of speech obligations of universities is little more than a front for stoking the political fires of disinformation and fear, placing teachers and students in the crosshairs. ...3 days ago - Release: Nicola Willis spirals country deeper into recession
The economy shrank 1% this quarter and New Zealand has tumbled into the depths of a recession of Nicola Willis’ making. ...3 days ago
- Release: Hikes for company directors but not ordinary Kiwis
Working people are going backwards while company directors are being given huge pay hikes. ...4 days ago
- ECE no place to cut corners
The Ministry of Regulation’s report into Early Childhood Education (ECE) in Aotearoa raises serious concerns about the possibility of lowering qualification requirements, undermining quality and risking worse outcomes for tamariki, whānau, and kaiako. ...4 days ago
- Release: Strengthening Justice Services for New Zealanders
A Bill to modernise the role of Justices of the Peace (JP), ensuring they remain active in their communities and connected with other JPs, has been put into the ballot. ...4 days ago
- Release: Labour will continue fight against destructive projects
Labour will continue to fight unsustainable and destructive projects that are able to leap-frog environment protection under National’s Fast-track Approvals Bill. ...4 days ago
- Green Government will revoke dodgy fast-track projects
The Green Party has warned that a Green Government will revoke the consents of companies who override environmental protections as part of Fast-Track legislation being passed today. ...4 days ago
- Government for the wealthy keeps pushing austerity
The Green Party says the Half Year Economic and Fiscal Update shows how the Government is failing to address the massive social and infrastructure deficits our country faces. ...5 days ago
- Release: Visa changes let migrant workers be paid less
The Government’s latest move to reduce the earnings of migrant workers will not only hurt migrants but it will drive down the wages of Kiwi workers. ...5 days ago
- Release: Nightmare before Christmas for Nicola Willis
With more debt and a larger deficit, Nicola Willis’ reputation is in tatters after her failure to return the Government’s books to surplus. ...5 days ago
- Warning to Fast-Track Applicants – ‘Exploit the Whenua, Face the Consequences’
Te Pāti Māori has this morning issued a stern warning to Fast-Track applicants with interests in mining, pledging to hold them accountable through retrospective liability and to immediately revoke Fast-Track consents under a future Te Pāti Māori government. This warning comes ahead of today’s third reading of the Fast-Track Approvals ...5 days ago
- Release: Govt cuts wages for lowest paid NZers… again
For the second year running, the government has effectively cut wages for the lowest paid workers in New Zealand. ...5 days ago
- Govt’s miserly 1.5% minimum wage will take workers backwards
The Government’s announcement today of a 1.5 per cent increase to minimum wage is another blow for workers, with inflation projected to exceed the increase, meaning it’s a real terms pay reduction for many. ...5 days ago
- Release: Govt shirking responsibility for rate hikes
All the Government has achieved from its announcement today is to continue to push responsibility back on councils for its own lack of action to help bring down skyrocketing rates. ...5 days ago
- Luxon’s ‘localism’ strikes again
The Government has used its final post-Cabinet press conference of the year to punch down on local government without offering any credible solutions to the issues our councils are facing. ...5 days ago
- Release: Govt breaks promise on EV chargers
The Government has failed to keep its promise to ‘super charge’ the EV network, delivering just 292 chargers - less than half of the 670 chargers needed to meet its target. ...6 days ago
- Greens call for end to subsidies for Methanex
The Green Party is calling for the Government to stop subsidising the largest user of the country’s gas supplies, Methanex, following a report highlighting the multi-national’s disproportionate influence on energy prices in Aotearoa. ...6 days ago
- Govt child poverty targets allow for increase in poverty
The Green Party is appalled with the Government’s new child poverty targets that are based on a new ‘persistent poverty’ measure that could be met even with an increase in child poverty. ...1 week ago
- Release: Four weeks annual leave under threat
The Government’s attack on workers continues with news it is scrapping work on the Holidays Act. ...1 week ago
- Govt’s emissions plan for measly 1% reduction
New independent analysis has revealed that the Government’s Emissions Reduction Plan (ERP) will reduce emissions by a measly 1 per cent by 2030, failing to set us up for the future and meeting upcoming targets. ...1 week ago
- Greens stand in solidarity with Whakaata Māori on sad day
The loss of 27 kaimahi at Whakaata Māori and the end of its daily news bulletin is a sad day for Māori media and another step backwards for Te Tiriti o Waitangi justice. ...1 week ago
- Sanctions regime to create more hardship for families
Yesterday the Government passed cruel legislation through first reading to establish a new beneficiary sanction regime that will ultimately mean more households cannot afford the basic essentials. ...1 week ago
- Govt gifts renters housing anxiety for Christmas
Today's passing of the Government's Residential Tenancies Amendment Bill–which allows landlords to end tenancies with no reason–ignores the voice of the people and leaves renters in limbo ahead of the festive season. ...1 week ago
- Release: National Party urged to support modern slavery legislation
Labour is urging the Prime Minister to walk the talk and support legislation combating modern slavery. ...1 week ago
- Release: Labour has lost confidence in the Speaker
The Speaker of the New Zealand Parliament made an unprecedented decision on the government amendment to the Fast Track Approvals Bill last night. ...1 week ago
- One year on, still no progress on new ferries
Today’s announcement from the Government on its plan for new ferries throws more uncertainty on the future of the country’s rail network. ...2 weeks ago
- Release: Nicola Willis’ smaller ferries will cost more
After wasting a year, Nicola Willis has delivered a worse deal for the Cook Strait ferries that will end up being more expensive and take longer to arrive. ...2 weeks ago
- Bill to sanction unlawful occupation of Palestine
Green Party co-leader Chlöe Swarbrick has today launched a Member’s Bill to sanction Israel for its unlawful presence in the Occupied Palestinian Territory, as the All Out For Gaza rally reaches Parliament. ...2 weeks ago
- Release: Labour fully supports greyhound racing ban
The Government has done the right thing in moving to ban greyhound racing. ...2 weeks ago
- Greyhound racing industry ban marks new era for animal welfare
After years of advocacy, the Green Party is very happy to hear the Government has listened to our collective voices and announced the closure of the greyhound racing industry, by 1 August 2026. ...2 weeks ago
- Rangatahi voices must be centred in Government’s Relationship and Sexuality Education refresh
In response to a new report from ERO, the Government has acknowledged the urgent need for consistency across the curriculum for Relationship and Sexuality Education (RSE) in schools. ...2 weeks ago
- Govt introduces archaic anti-worker legislation
The Green Party is appalled at the Government introducing legislation that will make it easier to penalise workers fighting for better pay and conditions. ...2 weeks ago
- Winston Peters – Kinleith Mill Speech
Thank you for the invitation to speak with you tonight on behalf of the political party I belong to - which is New Zealand First. As we have heard before this evening the Kinleith Mill is proposing to reduce operations by focusing on pulp and discontinuing “lossmaking paper production”. They say that they are currently consulting on the plan to permanently shut ...2 weeks ago - Swarbrick calls on Auckland Mayor to end delay of revival of St James Theatre
Auckland Central MP, Chlöe Swarbrick, has written to Mayor Wayne Brown requesting he stop the unnecessary delays on St James Theatre’s restoration. ...2 weeks ago
- He Ara Anamata: Greens launch Emissions Reduction Plan
Today, the Green Party of Aotearoa proudly unveils its new Emissions Reduction Plan–He Ara Anamata–a blueprint reimagining our collective future. ...2 weeks ago
- PM appoints business leader to APEC Business Advisory Council
Prime Minister Christopher Luxon has appointed Sarah Ottrey to the APEC Business Advisory Council (ABAC). “At my first APEC Summit in Lima, I experienced firsthand the role that ABAC plays in guaranteeing political leaders hear the voice of business,” Mr Luxon says. “New Zealand’s ABAC representatives are very well respected and ...2 days ago - New intelligence oversight appointments
Prime Minister Christopher Luxon has announced four appointments to New Zealand’s intelligence oversight functions. The Honourable Robert Dobson KC has been appointed Chief Commissioner of Intelligence Warrants, and the Honourable Brendan Brown KC has been appointed as a Commissioner of Intelligence Warrants. The appointments of Hon Robert Dobson and Hon ...2 days ago
- New housing developments able to progress more quickly
Improvements in the average time it takes to process survey and title applications means housing developments can progress more quickly, Minister for Land Information Chris Penk says. “The government is resolutely focused on improving the building and construction pipeline,” Mr Penk says. “Applications to issue titles and subdivide land are ...2 days ago
- Actions to speed up air travel delivering results
The Government’s measures to reduce airport wait times, and better transparency around flight disruptions is delivering encouraging early results for passengers ahead of the busy summer period, Transport Minister Simeon Brown says. “Improving the efficiency of air travel is a priority for the Government to give passengers a smoother, more reliable ...2 days ago
- Ending contracted emergency housing in Rotorua
The Government today announced the intended closure of the Apollo Hotel as Contracted Emergency Housing (CEH) in Rotorua, Associate Housing Minister Tama Potaka says. This follows a 30 per cent reduction in the number of households in CEH in Rotorua since National came into Government. “Our focus is on ending CEH in the Whakarewarewa area starting ...2 days ago
- Vocational education and training decisions support return to regions
The Government will reshape vocational education and training to return decision making to regions and enable greater industry input into work-based learning Tertiary Education and Skills Minister, Penny Simmonds says. “The redesigned system will better meet the needs of learners, industry, and the economy. It includes re-establishing regional polytechnics that ...2 days ago
- Reducing the environmental impact of synthetic refrigerants
The Government is taking action to better manage synthetic refrigerants and reduce emissions caused by greenhouse gases found in heating and cooling products, Environment Minister Penny Simmonds says. “Regulations will be drafted to support a product stewardship scheme for synthetic refrigerants, Ms. Simmonds says. “Synthetic refrigerants are found in a ...2 days ago
- Ngāruawāhia section of Waikato Expressway back to 4 lanes for Christmas
People travelling on State Highway 1 north of Hamilton will be relieved that remedial works and safety improvements on the Ngāruawāhia section of the Waikato Expressway were finished today, with all lanes now open to traffic, Transport Minister Simeon Brown says.“I would like to acknowledge the patience of road users ...2 days ago
- Appointments to the ENZ board
Tertiary Education and Skills Minister, Penny Simmonds, has announced a new appointment to the board of Education New Zealand (ENZ). Dr Erik Lithander has been appointed as a new member of the ENZ board for a three-year term until 30 January 2028. “I would like to welcome Dr Erik Lithander to the ...3 days ago
- Government to celebrate Waitangi Day around NZ
The Government will have senior representatives at Waitangi Day events around the country, including at the Waitangi Treaty Grounds, but next year Prime Minister Christopher Luxon has chosen to take part in celebrations elsewhere. “It has always been my intention to celebrate Waitangi Day around the country with different ...3 days ago
- More gangs added to Gangs Act list
Two more criminal gangs will be subject to the raft of laws passed by the Coalition Government that give Police more powers to disrupt gang activity, and the intimidation they impose in our communities, Police Minister Mark Mitchell says. Following an Order passed by Cabinet, from 3 February 2025 the ...3 days ago
- Judicial appointment announced
Attorney-General Judith Collins today announced the appointment of Justice Christian Whata as a Judge of the Court of Appeal. Justice Whata’s appointment as a Judge of the Court of Appeal will take effect on 1 August 2025 and fill a vacancy created by the retirement of Hon Justice David Goddard on ...3 days ago
- GDP data highlights importance of growth
The latest economic figures highlight the importance of the steps the Government has taken to restore respect for taxpayers’ money and drive economic growth, Finance Minister Nicola Willis says. Data released today by Stats NZ shows Gross Domestic Product fell 1 per cent in the September quarter. “Treasury and most ...3 days ago
- Strengthening Free Speech in Universities
Tertiary Education and Skills Minister Penny Simmonds and Associate Minister of Education David Seymour today announced legislation changes to strengthen freedom of speech obligations on universities. “Freedom of speech is fundamental to the concept of academic freedom and there is concern that universities seem to be taking a more risk-averse ...3 days ago
- Launch of Emergency Cellular Priority Service
Police Minister, Mark Mitchell, and Internal Affairs Minister, Brooke van Velden, today launched a further Public Safety Network cellular service that alongside last year’s Cellular Roaming roll-out, puts globally-leading cellular communications capability into the hands of our emergency responders. The Public Safety Network’s new Cellular Priority service means Police, Wellington ...3 days ago
- Minister reopens Mangamuka Gorge
State Highway 1 through the Mangamuka Gorge has officially reopened today, providing a critical link for Northlanders and offering much-needed relief ahead of the busy summer period, Transport Minister Simeon Brown says.“The Mangamuka Gorge is a vital route for Northland, carrying around 1,300 vehicles per day and connecting the Far ...3 days ago
- Funding confirmed for second Ashburton Bridge
The Government has welcomed decisions by the NZ Transport Agency (NZTA) and Ashburton District Council confirming funding to boost resilience in the Canterbury region, with construction on a second Ashburton Bridge expected to begin in 2026, Transport Minister Simeon Brown says. “Delivering a second Ashburton Bridge to improve resilience and ...3 days ago
- Government boosts support for avian influenza response
The Government is backing the response into high pathogenic avian influenza (HPAI) in Otago, Biosecurity Minister Andrew Hoggard says. “Cabinet has approved new funding of $20 million to enable MPI to meet unbudgeted ongoing expenses associated with the H7N6 response including rigorous scientific testing of samples at the enhanced PC3 ...3 days ago
- Levelling the playing field for media advertising
Legislation that will repeal all advertising restrictions for broadcasters on Sundays and public holidays has passed through first reading in Parliament today, Media Minister Paul Goldsmith says. “As a growing share of audiences get their news and entertainment from streaming services, these restrictions have become increasingly redundant. New Zealand on ...3 days ago
- Inspector-General of Defence appointed
Today the House agreed to Brendan Horsley being appointed Inspector-General of Defence, Justice Minister Paul Goldsmith says. “Mr Horsley’s experience will be invaluable in overseeing the establishment of the new office and its support networks. “He is currently Inspector-General of Intelligence and Security, having held that role since June 2020. ...4 days ago
- Fire and Emergency New Zealand final levy rates confirmed
Minister of Internal Affairs Brooke van Velden says the Government has agreed to the final regulations for the levy on insurance contracts that will fund Fire and Emergency New Zealand from July 2026. “Earlier this year the Government agreed to a 2.2 percent increase to the rate of levy. Fire ...4 days ago
- More AML relief on the way for Kiwi businesses
The Government is delivering regulatory relief for New Zealand businesses through changes to the Anti-Money Laundering and Countering Financing of Terrorism Act. “The Anti-Money Laundering and Countering Financing of Terrorism Amendment Bill, which was introduced today, is the second Bill – the other being the Statutes Amendment Bill - that ...4 days ago
- Hawke’s Bay Expressway moving at pace
Transport Minister Simeon Brown has welcomed further progress on the Hawke’s Bay Expressway Road of National Significance (RoNS), with the NZ Transport Agency (NZTA) Board approving funding for the detailed design of Stage 1, paving the way for main works construction to begin in late 2025.“The Government is moving at ...4 days ago
- Government seeks partnerships to plant trees on Crown-owned-land
The Government today released a request for information (RFI) to seeking interest in partnerships to plant trees on Crown-owned land with low farming and conservation value (excluding National Parks) Forestry Minister Todd McClay announced. “Planting trees on Crown-owned land will drive economic growth by creating more forestry jobs in our regions, providing more wood ...4 days ago
- Wide ranging legislation to make justice system more efficient
Court timeliness, access to justice, and improving the quality of existing regulation are the focus of a series of law changes introduced to Parliament today by Associate Minister of Justice Nicole McKee. The three Bills in the Regulatory Systems (Justice) Amendment Bill package each improve a different part of the ...4 days ago
- Diverse skills in community trust appointments
A total of 41 appointments and reappointments have been made to the 12 community trusts around New Zealand that serve their regions, Associate Finance Minister Shane Jones says. “These trusts, and the communities they serve from the Far North to the deep south, will benefit from the rich experience, knowledge, ...4 days ago
- Torture redress for survivors of the Lake Alice Unit
The Government has confirmed how it will provide redress to survivors who were tortured at the Lake Alice Psychiatric Hospital Child and Adolescent Unit (the Lake Alice Unit). “The Royal Commission of Inquiry into Abuse in Care found that many of the 362 children who went through the Lake Alice Unit between 1972 and ...4 days ago
- A busy year in the House
It has been a busy, productive year in the House as the coalition Government works hard to get New Zealand back on track, Leader of the House Chris Bishop says. “This Government promised to rebuild the economy, restore law and order and reduce the cost of living. Our record this ...4 days ago
- Consultation opens on working with engineered stone
“Accelerated silicosis is an emerging occupational disease caused by unsafe work such as engineered stone benchtops. I am running a standalone consultation on engineered stone to understand what the industry is currently doing to manage the risks, and whether further regulatory intervention is needed,” says Workplace Relations and Safety Minister ...4 days ago
- Greater reporting on Treaty settlement commitments
Mehemea he pai mō te tangata, mahia – if it’s good for the people, get on with it. Enhanced reporting on the public sector’s delivery of Treaty settlement commitments will help improve outcomes for Māori and all New Zealanders, Māori Crown Relations Minister Tama Potaka says. Compiled together for the ...4 days ago
- New appointments to the Charities Registration Board
Mr Roger Holmes Miller and Ms Tarita Hutchinson have been appointed to the Charities Registration Board, Community and Voluntary Sector Minister Louise Upston says. “I would like to welcome the new members joining the Charities Registration Board. “The appointment of Ms Hutchinson and Mr Miller will strengthen the Board’s capacity ...4 days ago
- Building consent processing times improve
More building consent and code compliance applications are being processed within the statutory timeframe since the Government required councils to submit quarterly data, Building and Construction Minister Chris Penk says. “In the midst of a housing shortage we need to look at every step of the build process for efficiencies ...4 days ago
- Faster access to support through Innovation Fund
Mental Health Minister Matt Doocey is proud to announce the first three recipients of the Government’s $10 million Mental Health and Addiction Community Sector Innovation Fund which will enable more Kiwis faster access to mental health and addiction support. “This fund is part of the Government’s commitment to investing in ...4 days ago
- New Zealand to assist Vanuatu on earthquake response
New Zealand is providing Vanuatu assistance following yesterday's devastating earthquake, Foreign Minister Winston Peters says. "Vanuatu is a member of our Pacific family and we are supporting it in this time of acute need," Mr Peters says. "Our thoughts are with the people of Vanuatu, and we will be ...4 days ago
- Government takes steps to reduce card fees for Kiwis
The Government welcomes the Commerce Commission’s plan to reduce card fees for Kiwis by an estimated $260 million a year, Commerce and Consumer Affairs Minister Andrew Bayly says.“The Government is relentlessly focused on reducing the cost of living, so Kiwis can keep more of their hard-earned income and live a ...4 days ago
- Review recommends ECE regulation shakeup
Regulation Minister David Seymour has welcomed the Early Childhood Education (ECE) regulatory review report, the first major report from the Ministry for Regulation. The report makes 15 recommendations to modernise and simplify regulations across ECE so services can get on with what they do best – providing safe, high-quality care ...4 days ago
- Offshore Renewable Energy Bill passes first reading
The Government‘s Offshore Renewable Energy Bill to create a new regulatory regime that will enable firms to construct offshore wind generation has passed its first reading in Parliament, Energy Minister Simeon Brown says.“New Zealand currently does not have a regulatory regime for offshore renewable energy as the previous government failed ...4 days ago
- Local Government (Water Services) Bill passes first reading
Legislation to enable new water service delivery models that will drive critical investment in infrastructure has passed its first reading in Parliament, marking a significant step towards the delivery of Local Water Done Well, Local Government Minister Simeon Brown and Commerce and Consumer Affairs Minister Andrew Bayly say.“Councils and voters ...4 days ago
- Gene Technology Bill passes first reading
New Zealand is one step closer to reaping the benefits of gene technology with the passing of the first reading of the Gene Technology Bill, Science, Innovation and Technology Minister Judith Collins says. "This legislation will end New Zealand's near 30-year ban on gene technology outside the lab and is ...4 days ago
- New Zealand ratifies AANZFTA Upgrade
New Zealand has ratified the Upgrade to the Agreement establishing the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA), Minister for Trade Todd McClay announced today. “ASEAN which is comprised of Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam, is New Zealand’s fourth largest trading partner in two-way trade – ...4 days ago
- Israeli-American historian describes attacks on Gaza as ‘war of annihilation’
Asia Pacific Report “It looks like Hiroshima. It looks like Germany at the end of World War Two,” says an Israeli-American historian and professor of holocaust and genocide studies at Brown University about the horrifying reality of Gaza. Professor Omer Bartov, has described Israel’s ongoing war on Gaza as an ...2 hours ago - NZ govt plans to make ‘heavy handed’ change to free speech rules for universities
The New Zealand government coalition is tweaking university regulations to curb what it says is an increasingly “risk-averse approach” to free speech. The proposed changes will set clear expectations on how universities should approach freedom of speech issues. Each university will then have to adopt a “freedom of speech statement” ...2 hours ago
- Caitlin Johnstone: Where does the aggression really begin?
Report by Dr David Robie – Café Pacific. – COMMENTARY: By Caitlin Johnstone New York prosecutors have charged Luigi Mangione with “murder as an act of terrorism” in his alleged shooting of health insurance CEO Brian Thompson earlier this month. This news comes out at the same time as ...5 hours ago
- OECD Report Highlights That More Is Needed
This report reflects that gap in our dealings overseas, and it shows that legislators, the public sector and businesses need to walk the talk. ...13 hours ago - Government quietly scraps waste minimisation policies
The government has quietly cancelled plans to improve recycling and roll out a kerbside food scraps composting scheme. ...13 hours ago - MEAA welcomes News MAP funding ‘leg up’ for Australian journalism
Pacific Media Watch The union for Australian journalists has welcomed the delivery by the federal government of more than $150 million to support the sustainability of public interest journalism over the next four years. Combined with the announcement of the revamped News Bargaining Initiative, this could result in up to ...15 hours ago
- Transmission Gully partnership breakdown will not hurt future public-private partnerships, Infrastru...
The roads partnership unravelled under a confidential settlement this week, meaning NZTA will now finish off what it had said was incomplete work. ...20 hours ago
- Funding cuts to charity particularly felt over Christmas period
The number of people seeking help from Lifeline is expected to increase by 10 to 20 percent over Christmas. ...21 hours ago
- Nelson Hospital conditions ‘unbearable’ – staff
One worker says the building is decrepit and falling down around them. ...22 hours ago
- The Secret Diary of .. Luxon at Xmas
MONDAY“Merry Xmas, and praise the Lord,” said Sheriff Luxon, and smiled for the camera. There was a flash of smoke when the shutter pressed down on the magnesium powder. The sheriff had arranged for a photographer from the Dodge Gazette to attend a ceremony where he handed out food parcels to ...22 hours ago - Stand by for cricket’s Smash Palace
It’s a little under two months since the White Ferns shocked the cricketing world, deservedly taking home the T20 World Cup. Since then the trophy has had a tour around the country, five of the squad have played in the WBBL in Australia while most others have returned to domestic ...22 hours ago
- Early-onset dementia under the microscope
Comment: If we say the word ‘dementia’, many will picture an older person struggling to remember the names of their loved ones, maybe a grandparent living out their final years in an aged care facility. Dementia can also occur in people younger than 65, but it can take time before ...22 hours ago
- Keeping the pirates at bay: Should the Australian ‘Blocking Order’ case prompt a discussion in N...
Piracy is a reality of modern life – but copyright law has struggled to play catch-up for as long as the entertainment industry has existed. As far back as 1988, the House of Lords criticised copyright law’s conflict with the reality of human behaviour in the context of burning cassette ...22 hours ago
- ‘We were as famous as Tom Cruise’: Craig Parker on 90s Shortland St fandom
As he makes a surprise return to Shortland Street, actor Craig Parker takes us through his life in television. Craig Parker has been a fixture on television in Aotearoa for nearly four decades. He had starring roles in iconic local series like Gloss, Mercy Peak and Diplomatic Immunity, featured in ...23 hours ago - ‘I prioritise the mission, not my health’: Adam McGrath’s perfect weekend playlist
The Ōtautahi musician shares the 10 tracks he loves to spin, including the folk classic that cured him of a ‘case of the give-ups’. When singer-songwriter Adam McGrath returns to Kumeu’s Auckland Folk Festival from January 24-27, he’s not planning on simply idling his way through – he wants the late ...23 hours ago
- The rescue dog bringing joy to Christchurch retirement homes
Alex Casey spends an afternoon on the job with River, the rescue dog on a mission to spread joy to Ōtautahi rest homes. Almost everyone says it is never enough time. But River the rescue dog, a jet black huntaway border collie cross, has to keep a tight pace to ...23 hours ago
- Fiji pro-Palestine nativity scene exposes Gaza as ‘hell on earth’ at Christmas
Asia Pacific Report Fiji activists have recreated the nativity scene at a solidarity for Palestine gathering in Fiji’s capital Suva just days before Christmas. The Fiji Women’s Crisis Centre and Fijians for Palestine Solidarity Network recreated the scene at the FWCC compound — a baby Jesus figurine lies amidst the ...1 day ago
- Vanuatu quake: ‘Our shop was flattened like a deck of cards’
By 1News Pacific correspondent Barbara Dreaver and 1News reporters A number of Kiwis have been successfully evacuated from Vanuatu after a devastating earthquake shook the Pacific island nation earlier this week. The death toll was still unclear, though at least 14 people were killed according to an earlier statement from ...1 day ago
- How diplomats have broken the law in NZ – and what happened next
A handful of foreign diplomats have misbehaved during their time here - and not all of them have been brought to justice. ...1 day ago
- Swim schools report sinking enrolments as downturn deepens
Being able to swim is often considered a life skill, but tough economic times are forcing many families to pull their children out of lessons. ...1 day ago
- ‘There will be deaths because of this’ – Warning over Health NZ IT cuts
A West Coast IT worker is warning patients will die as Health New Zealand aims to slash its data and digital staff. ...1 day ago
- Polytech sales possible but unlikely when Te Pūkenga disestablished – minister
In a surprise move, the sale of polytechnics will be on the table when the national institute of technology Te Pūkenga is disestablished. ...1 day ago
- Parliament’s final sitting day an insight into party factions
On Parliament's last day of the year, there was a rare glimpse of the factions within the major parties. ...1 day ago
- Former Labour MP, North Shore mayor Ann Hartley dies
Former Labour MP and mayor of Auckland's North Shore City Ann Hartley has died. ...1 day ago
- The closest thing Australian cartooning had to a prophet: the sometimes celebrated, sometimes contro...
Source: The Conversation (Au and NZ) – By Richard Scully, Professor in Modern History, University of New England Bunker. Image courtesy of Michael Leunig, CC BY-NC-SA Michael Leunig – who died in the early hours of Thursday December 19, surrounded by “his children, loved ones, and sunflowers” – was the ...1 day ago
- Labour moves Speaker from the ‘nice’ to ‘naughty’ list
Last week's fights with the Speaker over the Fast Track schedule may have changed the tone in Parliament. ...2 days ago
- Govt ends pilot programme for Māori and Pacific, sparking outrage
The Government announced the end of the programme that allowed Māori and Pacific people to acess bowel cancer screening at 50-years-old. ...2 days ago
- Parliament fits an extra morning into final sitting day
The House - On Parliament's last day of the year, there was the rare occurrence of a personal (conscience) vote on selling booze over the Easter weekend. While it didn't have the numbers to pass, it was a chance to get a rare glimpse of the fact ...2 days ago
- The Friday Poem: ‘Bejeweled log’ by Holly Fletcher
A new poem by Holly Fletcher. bejeweled log i was dreaming about wasps / wee darlings that followed me / ducking under objects / that i was fated to pickup / my fingers seeking / and meeting with tiny proboscis’s / but instead / i wake up / roll sideways ...2 days ago
- Sunglasses don’t just look good – they’re good for you too. Here’s how to choose the right p...
Source: The Conversation (Au and NZ) – By Flora Hui, Research Fellow, Centre for Eye Research Australia and Honorary Fellow, Department of Surgery (Ophthalmology), The University of Melbourne Versta/Shutterstock Australians are exposed to some of the highest levels of solar ultraviolet (UV) radiation in the world. While we ...2 days ago
- How does franchising work?
Source: The Conversation (Au and NZ) – By Andrew Terry, Professor of Business Regulation, University of Sydney Michael von Aichberger/Shutterstock Even if you’ve no idea how the business model underpinning franchises works, there’s a good chance you’ve spent money at one. Franchising is essentially a strategy for cloning ...2 days ago
- The one episode of Shortland Street you need to watch this year
If something big is going to happen in Ferndale, it’s going to happen at Christmas. This is an excerpt from our weekly pop culture newsletter Rec Room. Sign up here. If there’s one episode of Shortland Street you should watch each year, it’s the annual Christmas cliffhanger. The final episode of ...2 days ago
- As China expands its cyber espionage and sabotage operations, how will the Trump administration resp...
Source: The Conversation (Au and NZ) – By William A. Stoltz, Lecturer and expert Associate, National Security College, Australian National University US President-elect Donald Trump has named most of the members of his proposed cabinet. However, he’s yet to reveal key appointees to America’s powerful cyber warfare and intelligence institutions. ...2 days ago
- The Unity Books bestseller chart for 2024
Announcing the top 10 books of the the year at Unity Books’ stores in High St, Auckland, and Willis St, Wellington. AUCKLAND 1 Intermezzo by Sally Rooney (Faber & Faber, $37) The phenomenal Irish writer is the unsurprising chart topper for 2024 with her fourth novel that, much like her first ...2 days ago
- Government confirms plan to dismantle Te Pūkenga, re-establish polytechs
The government has confirmed its plan to break up Te Pūkenga / New Zealand Institute of Skills and Technology and re-establish independent polytechnics. ...2 days ago
- AI can’t do your Christmas shopping just yet – but next year might be different
Source: The Conversation (Au and NZ) – By Jon Whittle, Director, Data61 Ganjalex / Shutterstock I’m a computer scientist and a bad Christmas shopper. Over the weekend, I wondered whether AI systems might be able to help me out. Could I just prompt ChatGPT to pick a personalised ...2 days ago
- Heading on an overseas holiday? The Australian dollar tumbled this week – but that’s not bad new...
Source: The Conversation (Au and NZ) – By Mark Crosby, Professor of Economics, Monash University Michael Leslie/Shutterstock This week, the value of the Australian dollar fell to 62 US cents, its lowest level since October 2022. The acute cause? A revelation by the United States Federal Reserve that ...2 days ago
- Former political figure who abused teens confirms appeal
The former political figure who sexually abused two teens in the late 1990s will challenge his case in the Court of Appeal next year. ...2 days ago
- The real NZ Wrapped: Analysing the 2024 NZ Music charts
A couple of weeks after Spotify Wrapped comes a much more comprehensive survey of New Zealand’s listening. Duncan Greive casts an eye over the official 2024 end of year music charts. Streaming has changed music listening, and what we know about it, forever. Where once our charts were sales driven, ...2 days ago
- End of Clean Car discount, road user charges see EV sales decline
Subsidies are gone, road user charges are in, and ACC levies are up. So do electric cars still make financial sense? ...2 days ago
Why are you not surprised. Labour went into the election promising nothing and nothing is been delivered. Perfect.
Oh please cheer up a bit. You seem to be so down all the time. Find something to be happy about will you – a bit Pollyanna – give our hankies time to dry.
The government created the problem for themselves by ruling out CGT, wealth tax and standing behind the real estate market…dont blame the RBNZ whose job isnt to maintain housing affordability (even if they could)
And who have to take some of the blame for that? The Greens.
No-one is denying a CGT-type tax is overdue, but to bring it up immediately prior to a General Election was abysmal timing. Horses frighten easily even when there is nothing to be frightened about.
It’s possible they may have lost some votes but fortunately some of us – who normally vote Labour – gave our vote to the Greens because we recognise they have an important role to play especially around Climate Change.
Not sure how you determine the Greens have contributed to house price inflation
Apols for being unclear. Clarified what part of your comment I was responding to while you were replying.
Stop blaming the Greens for Labours chicken shit approach to anything mildly difficult. Jacinda has huge political capital thats gonna burn on a house price bonfire shortly.
Crinklewood, not just house prices but inflation in real terms. People will not be able to afford the basics soon. Everybody I spoke too agrees that food prices have gone up by some 10-12% in the last few months, rent – I don't even go there, Insurance for home loan borrowers is astronomical. Meanwhile, mass redundancies, billions paid to the same companies that sack people in great numbers and yet the people loosing their jobs have to wait for weeks to get a call from WINZ processing their applications. And the list goes on. Something is very wrong here, it looks like a hands off approach, no planning at all. All National needs to do is consolidate, plan their strategy and …wait.
Labor has so far delivered nothing of substance, where there is a noise some money is thrown at it to make it go away -courtesy of the taxpayer. We may still see some more issues with corona virus due to boarders being essentially opened somewhat. And to top it all off, lets look at negative interest rates that will hurt everybody except the rich.
Not impressed at all.
I like your term "inflation in real terms". Not the official rate, which our Establishment always manages to subtly understate.
You are right – if rent and any other under-estimated factors jump, people in the real world will be unable to survive, despite our Govt. pretending that inflation is very low.
What a great image. A group of solid, keen types striding forward looking tidy, well-dressed in their matching suits, on their way to make policy to give us a world fit for men to live in.
women and children needn't apply in a world fit for men in the image of the empty suits above.
Yeah, and with Lees-Galloway, Clark and Nash by his side, how can Robertson go wrong?
Lees Galloway is out of the Government. That is an old photo.
Like I said, how can Robertson go wrong?!!!
Well I don't know for one, nothing comes to mind so I ask 'How can Robertson go wrong'?
He can't because he's got David Clark and Stuart Nash at his side, and Iain Lees-Galloway has left parliament.
Who is the one between Lees-Galloway and Robertson?
Just some DPS guy.
I do hope you are right – you are thinking that he will do stuff aren't you? In social policy terms doing nothing is a policy so he can't hope to keep his hands clean of risk anywhere.
Everyone knows Labour can do no wrong.
Since the unmitigated failure of Rogergnomics, Labour's wrongs are chiefly sins of omission. They don't do things – which is politically safe but disastrous misgovernance. Better than the active looting of the Gnats, but only marginally. Could not be mistaken for good governance or things like the housing bubo could not have arisen.
Welfare 'reform' under the Clark regime is a perfect example, except they actively turned the screws, no doubt partly in the knowledge people wouldn't expect it 'from a Labour government', but also because they know most people don't care about the inadequacy of the benefit system and its related problems.
Like the Mafia boss and his team at the top on there way to attend a meeting. 😉
Its become a bit of an iconic image. Some keen cameraman saw the potential for a bit of humour there.
imagery above substance, which in essence is the current labour lot. A whole lot of image and expensive suits and nothing in the fridge for dinner and no rents paid.
Well pne good thing about house prices rising is that builders now have a pretty good incentive to takes on extra workers and get busy building more….
People who want new houses, need to be able to afford them.
Meanwhile speculators are making fortunes, turning over existing ones.
Why go to the risk of building?
And how many more houses do you estimate it will take to make them affordable?
A CGT would not have made a rats arse difference to the current stupid prices in Auckland, even if a form of one is overdue. Story yesterday in Herald of a couple with a child who had looked at competed at over 30 auctions but said "Fuck it, we're going for it" and paid well over the top just to live in inner Auckland. Maybe parents gave them a million bucks just to get them out of the bloody house.
Banning auctions would make more sense than a CGT in this climate.
Sensible questions. Why is there a stampede for houses at any cost ? Was there a backlog of demand because of Covid, it takes only small numbers to deliberatly or even inadvertantly manipulate a market in the short term? Where are these young buggers getting the millions from, even if just for the deposit ? Do they really think the real cost of these huge prices are going to be sustainable, and by that I mean that in the old days of unrestrained inflation within a few years the high price paid seemed reasonable because of escalating inflation and incomes rising to match ? Just exactly how many houses are going for high prices, it may only be a few but the lemmings are reading the alarmist headlines’and irrationaly reacting to them? Has anybody read a headline that shouts "Hoüse Sold For GV! , I'm sure theres still a few out there probably even a lot more than the headline grabbers.?
Government can do fuck all if people persist in being stupid, if everybody just stopped buying houses for 6 months the arse would drop out of the market. Good luck with getting anybody to do that.
And for all the bitching about Adrian Orr, he has after years of complaints by the very people no doubt previously complaining about the cost of mortgage money given the country rates comparable to ones the rest of the world has had for years. The market will no doubt stabilise soon, as they all do eventually when it runs out of muppets, so give the poor bugger a break, he's at least given us what we have been screaming out for for decades.
Questions that I haven't seen put down before plainly with questions about outcomes. Thanks Adrian. And it does remind me of the run on oil & gold shares in Australia in the early 70's. The frenzied bidding each other up. I hope this isn't going to be a government in waiting. Being a bridesmaid but never the bride doesn't apply any more. We NZs are family, and need to be a co-operative one, looking out for each other, and better run than a hell of a lot of families are in this deluded country.
But running out of muppets. It seems they reproduce faster than a Covid-19 virus. And I like the muppets, they have good attitudes as a rule. So horsefeathers to whoever took their name in vein and put it into the bloodstream.
People are paying ridiculous money because it doesn't cost much to service a ridiculous mortgage. 2.69% fixed for three years makes people think they can afford an awful lot.
A couple both in full time work at minimum wage are in about the same position servicing a million-dollar mortgage as I was 12 years ago servicing a $300K mortgage on a senior engineer's salary.
Thats my point Andre
People keep buying houses because they know they can rent them out for exorbitant money and cash in on tax free capital gain. It's absolutely immoral.
You are going seriously backwards renting out a 2 million + dollar house and paying a mortgage even at less than 3%
What happens when interest rates go up as they probably will? Can these people still service their mortgage?
Nope. Not if they're stretched at 2.7%, a 1% rise in interest rate would add roughly 40% to their mortgage payments. Partly depending on how much they put on interest-only.
That would bring the spectre of a lot of mortgagee sales, stressed too-big-to-fail banks, and all around panic. Interesting times. No idea what would be a sensible way to navigate through that kind of scenario.
and the option of the Gov offering lower rate mortgage finance to those in stress as the banks apply pressure as they did in the eighties is not available…a situation that will be accentuated next year as rates decrease even more.
Interesting times indeed
Negative interest rates will pump even more money into the property market. Good lord where is the logic?
Maybe…but it dosnt matter how cheap the money is if you dont qualify for a mortgage or cant afford the rent….the decreasing interest rates reflect the decreasing ability to service the growing debt….negative rates wont solve that problem, and its all very well encouraging alternative investment but you have to have something that isnt too risky that will offer an improved return and there are few options around.
Quite simply the debt is too large to be repaid….and ultimately it wont be
So to defy the do nothing types we could introduce a series of small wage rises to both stimulate the economy a little, but also to help those on minimum mortgages to pay off something, repairs etc. And that spending will bring more GST at 15% as low income people don't have tax avoidance.
The current interest rates cannot increase at any rate that we have seen previously – Unless inflation goes the way of the early 80's. Those in debt would be unable to service any debt – So now debt is too big to fail.
I find it so sad that "we" have created this problem with central bank print up to $28 billion to lend to banks at the Official Cash Rate with few strings attached. But we are told that is not the Reserve banks problem they are to manage inflation. Well they have not done that very well with inflation ranging from 2016-2019 between 0.64% to 1.85% , yet they are to achieve a range from 1-3% averaging 2%.
https://www.rbnz.govt.nz/statistics/key-graphs/key-graph-inflation#:~:text=Under%20the%20current%20Policy%20Targets,the%202%20percent%20target%20midpoint.
In considering this we should understand that the RBNZ has the most influence on interest rates. So in saying that interest rates will go up just what are you claiming will force the RBNZ to increase its policy rate?
You can observe the RBNZ role from their chart of the monetary policy rate and its relationship with the banks 90-day bills rate (which is the interest rate banks lend settlement funds to each other at).
https://www.rbnz.govt.nz/statistics/key-graphs/key-graph-90-day-rate
In terms of bank stability the RBNZ will want to avoid wide spread mortgage defaults and will set the OCR considering this.
Exactly my point as well.
I think the Gummint hopes the loose money will go to businesses hoping to gear up for the big infratructure plans. If some gets siphoned off for housing its all part of the same world. Just don't try to pick winners, it all ends in tears.
As Observer said on Nov.16 https://thestandard.org.nz/open-mike-16-11-2020/#comment-1766705 – Obsrver
Photograph by AF archive / Alamy
"House prices are going up so fast that they are stripping New Zealanders of their last hope of financial independence." here in this statement you have one of our main problems…New Zealanders have swapped wage growth and job security for capital gains on domestic housing, in other words we have turned human homes into nothing more than a tradable commodity…with results that should surprise no one.
Obviously Labour NZ because beholden to their short term liberal ideology will be of no use in solving this problem of course..in fact as we are seeing will only make matters worse…what a shame.
Turn Labour Left!
This is a quite missleading discussion. Overall an invalid model of how the banking system works is presented to be fact with the implication presented that QE funds have flowed into the housing market and caused the recent price increases. Acting on the basis of this model will not control house price increases.
First off we should understand that the banking system does not on lend deposits, it creates new funds as it lends. This leads to the actual constraint on bank lending being the number of credit worthy borrowers coming in the door, and not the amount of deposits with the bank.
This is the model of banking presented by the Bank of England and even in the first summary paragraph clearly contradicts the idea of QE funds flowing into a market via banks.
https://www.bankofengland.co.uk/quarterly-bulletin/2014/q1/money-creation-in-the-modern-economy
Moving to the quoted statements of the RBA governor. "This could damage the credibility of a country’s institutional arrangements and create political tensions. Political tensions can also arise if the central bank’s asset purchases are seen to disproportionally benefit banks and wealthy people, at the expense of the person in the street.”
This paragraph is completed by a further sentence. "This perception has arisen in some countries despite the strong evidence that the various monetary measures supported both jobs and income growth and thereby helped the entire community." With the overall implication being entirely altered from a picture of QE inflating asset prices to one where people believe QE is inflating house prices however in reality its functioning as a broadly beneficial intervention.
Reversing slightly to Andrew Baylys claims about the RBNZ QE program, now obviously he makes the same kinds of unsubstantiated harm claims as are discussed by the RBA governor. If we understand the implications of how bank lending functions however we can see that what is mostly happening is that there are many more credit worthy borrowers asking for housing loans rather than business loans. The way to support profitable business opportunities being obviously to support the demand an employment sides of the economy. I don't see how this could be construed as a progressive position as it spuriously undermines how the govt is willing to carry out its demand and employment support at least partially mitigating the economic harm of the lockdowns.
Back earlier again the authors own claim is that "Pretty much everyone near a bank was pretty happy that the Governor Mr Orr intervened to provide stability in providing $30 billion to banks in March this year.". But in practice QE was essentially a mechanism allowing the RBNZ to fund the ongoing budget deficits while still operating inside conventional monetary policy. This disconnect is highlighted from the linked interest.co.nz article "But contrary to Gordon and Kendall, Manji has been calling for the RBNZ to do QE by buying bonds direct from Treasury, rather than doing so through the secondary market (enabling banks to clip a ticket in the process).". So we can observe there was no threat to financial stability being acted on. Effectively the same outcome could have been achieved entirely by cutting out the financial system ticket clippers.
So in summary, the implication that QE money is flowing into the housing market and inflating house prices is missleading and this implication is mostly not drawn by the linked articles.
So, the Covid Wardens (aka as Senior Labour Leadership), with Wrong Turn Ardern — have done the following in the last 4 weeks:
Do not vote Labour in 2023 — this will send a message to the Covid Wardens, and Wrong Turn Ardern….the message is…do not take our votes for granted…ever!
WHY EVER NOT (vote Labour in 2023)?
I am surprised that most Aotearoans aren't loudly yelling for more of the same.
no assertions that St Christopher or even JC exist
That is not the role of a secular state.
Thanks drmumdough — that put a smile on my face