Coated in privatisation pixie dust

Written By: - Date published: 5:13 pm, July 25th, 2009 - 29 comments
Categories: assets, privatisation - Tags:

I like Colin Espiner’s writing. He’s got he best of the journo blogs. He’s focussed on issues rather than politicking. But does he ever drop some clangers – saying the Chief Justice could be fired, confusing numbers on the dole with the number who are unemployed, saying the Prime Minister can’t affect wages, and this:

Actually, I think selling or part-privatising Meridian is a splendid idea. It would be a great addition to the stock exchange, which badly needs some new blue-chip listings. And everyone who moans about the obscene profits the company makes and the size of their power bill could do something about it.

Buy some shares. Not only would that put some of Meridian’s profits in your own pocket, but as a shareholder you could go along to Meridian’s AGM and give the directors what-for once a year. Brilliant.

1) Why does the stock exchange ‘need’ new blue-chip listings? We are told all the time by people with a financial interest in privatisation that it will ‘help the stock market’ but how? What good does that do the stock-market (apart from the owners of the stock-market who get more commissions)? More importantly, what good does it do for the wider economy, whether of not it helps the stock-market? In reality, doesn’t floating more huge companies into a relatively small market just mean that we won’t get a good price and the value of other shares will drop too?
 
2) Right now, I can do something (small) about Meridian’s prices, I can complain to my MP and the shareholding minister. My voice is worth as much as anyone’s. If it’s privatised, only shareholders will have a voice and that will be determined by their size. In reality, there will be one or two, probably foreign, owners and if you can afford the shares and turn up to the AGM you can yell all you like, you’ll just be ignored.
 
3) Right now, the profits that Meridian earns on my power bill come back to me and my community. They pay a dividend, that dividend pays for government expenditure on schools, hospitals, roads etc etc etc. Sell the thing, for what is bound to be a bad price (when did we ever get a good price for a privatisation?) and the profits will flow overseas while we have to cut services or find revenue from other sources.

4) Name a privatised company that has worked well. They’re rare as hen’s teeth. Why? Because most of them are in some kind of monoploy or near monoploy position. The natural inclination of a company in that position is to charge high prices, asset strip, make mega profits run the thing down, then demand a government bailout to prevent collapse.

I think that Colin’s quote shows the effectiveness of propaganda. There’s no actual argument that privatisation works for the reasons he claims. But when you hear the same endless mantra ‘privatisation is good, sharemarket needs depth, greater accountability, private pixies provide efficiency’ you start to believe it, you forget to question it.

29 comments on “Coated in privatisation pixie dust ”

  1. Tim Ellis 1

    Why does the stock exchange ‘need’ new blue-chip listings? We are told all the time by people with a financial interest in privatisation that it will ‘help the stock market’ but how? What good does that do the stock-market

    Interesting question Marty. It’s generally accepted that for any market to be viable, they need liquidity. They need a lot of investors constantly trading shares, investors with access to capital to trade, and a wide range of instruments to trade in. In short it needs critical mass. The ASX, which isn’t very large by world standards, is fifty times the size of the NZX.

    What does critical mass attract? Investors. More listings. Greater liquidity. More trades. Viable investment options other than residential property.

    More big listings would be good for New Zealand markets, and good for New Zealand investors.

    • RedLogix 1.1

      More big listings would be good for New Zealand markets, and good for New Zealand investors.

      Happy then for Meridian listings to be restricted to NZ resident investors only?

      • Tim Ellis 1.1.1

        Red, I don’t see the point in that. Resident and non-resident shareholders can already trade in electricity generation, through Contact shares. If there isn’t access to foreign capital then it wouldn’t enhance the liquidity of the sharemarket very much.

        It is quite common for electricity generators to offer unsecured capital instruments to New Zealand and non-resident investors. Yes, even those generators that are SOEs. In that respect the sharemarket really is only a capital-raising instrument. I don’t hear shrieks of privatisation every time Meridian offers unsecured notes to investors.

        • RedLogix 1.1.1.1

          If there isn’t access to foreign capital then it wouldn’t enhance the liquidity of the sharemarket very much.

          Well unless you are imagining that there is some means by which resident shareholders have an advantage over non-resident shareholders, then your claim ‘and good for New Zealand investors’ is pretty very much diluted.

          I don’t hear shrieks of privatisation every time Meridian offers unsecured notes to investors.

          Not unusual for public entities to raise capital in all sorts of ways, but ‘unsecured notes’ are quite different to shares that confer ownership. Indeed if one shareholder gains enough shares, they can control the company; something no amount of ‘unsecured notes’ will achieve.

        • stormspiral 1.1.1.2

          ‘I don’t hear shrieks of privatisation every time Meridian offers unsecured notes to investors.’

          No. You wouldn’t hear a thing, Tim. Most electricity and other consumers wouldn’t know one end of a sharemarket from another.

          Also, precisely what percentage of traders in NZ are represented on the sharemarket? 20? 25%?

          Seems like disproportionate power in the hands of a minority.

          Yes. I know more people than that invest in shares, but no way is this a majority.

          So why the bowed heads and hands raised in worship of what the sharemarket does? I’m talking logic here; not deep economic theory. And it is theory; not hard science.

          And it isn’t essential for NZ to follow overseas trends as far as we do. Certainly export sales are important, and what we spend overseas; in fact they are the vital ingredients, I’d have thought. As for exchange rates and such. Just who are they important to? other than the sharemarket?

          Catch 22. Just not logical.

          • Tim Ellis 1.1.1.2.1

            Yes. I know more people than that invest in shares, but no way is this a majority.

            So why the bowed heads and hands raised in worship of what the sharemarket does? I’m talking logic here; not deep economic theory. And it is theory; not hard science.

            No, I’m not raising my hands in worship of what the sharemarket does. I don’t personally invest in individual shares in the NZ sharemarket. It is too small and lacks liquidity. The reason why there aren’t many more New Zealand shareholders in the market is because there aren’t adequate levels of liquidity or stocks to make it worthwhile. That’s the whole point. If you raise liquidity levels and increase stocks and open up capital to more investors, more people will invest.

            Most New Zealanders have a lot of their savings and capital tied up either in their own homes or if they have surplus capital in investment property. Only a small number invest in shares and other investment instruments. As an economy we need real liquidity in productive assets.

            Why is a liquid market important? Because a liquid market is dynamic and innovative. It provides capital to invest in productive businesses. Productive businesses with access to easy capital creates economic growth and jobs.

            Investors receiving an economic return from productive assets become much more financially literate.

            • Pascal's bookie 1.1.1.2.1.1

              “Why is a liquid market important? Because a liquid market is dynamic and innovative. It provides capital to invest in productive businesses.”

              http://www.nytimes.com/2009/07/24/business/24trading.html?_r=2&partner=rss&emc=rss

            • BLiP 1.1.1.2.1.2

              Far out – that’s spooky! Who in their right mind would trust the infrastructure of the nation to the manipulators of the stock market!

            • stormspiral 1.1.1.2.1.3

              Really?

              Where is your hard evidence for your statements about market liquidity?

              You know what you are saying is simply based on theory, on what you learned at varsity or wherever. And that doesn’t make you accurate nor claircoyant.

            • RedLogix 1.1.1.2.1.4

              PB.

              Yeah I read that NYT article and shook my head.

              I always thought that ‘high frequency’ automated trading was sort of dodgy, but these supercomputers running ultra-high speed access directly into the SE systems… is really just a licence to steal from ordinary investors.

              Really it has to be the end of the market. Why any sane person would invest so much as one red cent into such a corrupt den of thieves is completely beyond me.

            • Draco T Bastard 1.1.1.2.1.5

              Far out that’s spooky! Who in their right mind would trust the infrastructure of the nation to the manipulators of the stock market!

              Only the delusional BLiP, only the delusional. The people who think that buying a share and then selling it for more has actually produced something.

    • Marty G 1.2

      So, we should sell one of our largest assets to some foreign company so that a few of the shares can be traded on our stockmarket? And that’s some how meant to make us better off as a country?

      Sounds like it would be good for the select few who can afford to get in at the listing then sell off at a profit to large foreign owners when the price leaps up (as it did with Contact, Auckland Airport). Don’t see any advantage for the country.

      • Tim Ellis 1.2.1

        No I don’t think anybody’s really seriously suggesting that Marty. But it would be good if the Super Fund had more large investment vehicles locally in New Zealand to invest in, for example, instead of having to invest off shore all the time because there aren’t the investment vehicles locally. Likewise with other large mutual funds.

    • Zaphod Beeblebrox 1.3

      If NZ’s no 1 economic problem is our current account deficit (does any economist dispute this?), how could sending profits offshore be justified?
      NZ’s trade deficit has been holding up pretty well over the past year or so. What is pushing up our current account are profits repatriated off shore.

  2. stormspiral 2

    ‘…generally accepted’. Tim, doesn’t mean it’s true.

    Seems to me that ‘critical mass’ could just as easily attract rogues and schills, robbers and cheats aka our electricity industry, big banks. It depends how you play with the numbers. ‘Lies, Damn Lies, and Statistics’, and all that.

    • Tim Ellis 2.1

      Interesting, Storm. If you think the “rogues and schills” are more common at Contact Energy than at Meridian or Mighty River or Genesis, or more common at TV3 than TVNZ, then you need to cut down on your pessimism pills.

      • Pascal's bookie 2.1.1

        It’s an unknowable Tim. In the private sector there is much less transparency than there is in the public sector for starters.

        Large bureaucracies have their benefits and their downsides. The public sector ones get a pretty good workout and are watched quite closely, all things considered.

        The large private sector ones are much less accountable if you look at it properly, particularly listed companies, ironically enough. Institutional investors dominate the shareholdings, and those investors themselves are controlled by their bureaucrats. Most of the ‘owners’ of the shares in a unit trust don’t even know what they own. The notion of shareholder control through the AGM is quaint. It’s the ‘management’ that control the company and their own remuneration and ability to exert further control, these bureaucrats, (and don’t kid yourself that management is anything but), have captured their domains far more than their public sector equivalents.

        Given that, where would you predict “rogues and schills’ to hunt?

        You should read J.K. Galbraith’s “The Economics of innocent fraud”. Short and cheap, there’s no excuse, and he might just retune those rose tinted glasses a bit..

      • stormspiral 2.1.2

        You know I never said that. and if I had meant it I would have said it clearly. As I’m sure you do, I believe that the rogues et al are divided among the whole of society.

        No no, Tim. Critique and comment are part of any discourse, and need not be pessimistic. But I have been speaking about things that need to be said.

        I’m sorry if I upset your economics mind. Sad that you haven’t chosen to comment on the points I have raised re economies and economists.

        However answering comment and question by denigrating the the comment author is hardly constructive economics..

        Finally, it’s about timw economists started to really question what they say and their methodology, and their accuracy based on unfudged results.

  3. Draco T Bastard 3

    The stock market, like any capitalist endeavor, is delusional. It doesn’t have correct prices and it doesn’t deliver value to the community. It’s just another bubble waiting to burst.

    http://thearchdruidreport.blogspot.com/2009/07/anti-ecology-of-money.html

    Anti-Spam: difficultys – yeah, it seems it can’t spell

  4. stormspiral 4

    It seems so self-evident. Why do you think I’ve called JK a gambler?

  5. Galeandra 5

    stormspiral says ‘It seems so self-evident. Why do you think I’ve called JK a gambler?’

    Interesting too to hear Key on Friday ( or was it Tweedledee, Mr Spin-glish?) espousing the relaxation of foreign investment control as a way of bridging the capital shortage we apparently suffer from. It seems unlikely to me that selling assets will necessarily produce genuine investment in development of the asset, if the past is any indication.

    Fay Richwhite’s ownership of NZ Rail, for example, and the follow-up by Toll; Telecom had capital invested but a lot more stripped out in the form of repatriated profit. How does our electricity generation &distribution network as it is today stack up against the decades when it ran as a purely state owned investment?

    What I really liked about Contact for example was
    a) paying for the initial state development through my taxes;
    b) paying again for the assets through price increases when the SOE’s had to generate profit on the assets to repay the “purchase price” and
    c) paying yet again for the asset when private owners finally took over and profits covered purchase price.

    It’s not a cheerful prospect for the average taxpayer when he looks back at all the stuff he helped pay for so that others could ‘buy’ it from him.

    That aside, I do agree that we need mechanisms to raise capital for enterprise development and NZX is at least an alternative to “investing” in houses.
    But
    I’d be concerned to see minority investors shoved out by large players once their holdings fell below a particular threshold. This has happened often enough in the past ( as per Skellerup, for example).

    I’d like NannyState to protect NZ enterprise and ingenuity against the rapacity of large foreign capital conglomerates with some sort of kiwi share mechanism. I guess that suggestion would make all the monetarists and pure marketeers howl.

    • Draco T Bastard 5.1

      Foreign investment hurts the local economy. That includes NZ investment in other, smaller, economies.

      These are the graphs that prove it. It’s interesting. Global economy is up, rich economy financial capital is up, rich economy wages are down, small economy financial capital is down and small economy wages are up. In theory.

      Fisher and Paykel will probably tell you that the small economies (NZ) wages are down as well as the financial capital.

      • Tim Ellis 5.1.1

        DTB, again those graphs don’t prove anything of the sort. You have found some graphs that are consistent with your hypothesis, but they don’t prove your hypohesis because there you haven’t established causation.

        The general rule is that no underdeveloped nation has acheived developed status in modern economic history without access to foreign capital. The only exceptions have been when underdeveloped nations strike an oil field. We don’t have many oil fields.

        Secondly, if foreign investment is harmful to New Zealand, then isn’t New Zealand investment in foreign countries harmful to other countries’ economies? To be consistent shouldn’t you be arguing that New Zealand companies and crown organisations shouldn’t invest overseas? How do you feel about the Super Fund placing the large majority of its investment offshore?

        • RedLogix 5.1.1.1

          Again you are resorting to the “I don’t like the data, therefore I’m sticking my fingers in my ears” defence. What you really want to do is to shift the debate away from the discipline of hard facts to specualtive discussion where you can make any unprovable assertion you like.

          Draco has given you some information, from which he has drawn a strong and reasonable hypothesis. Now if you want to debate this with any credibility you will need to propose an alternative hypothesis (ie come up with some other ‘causation’ ) that fits the data.

        • Draco T Bastard 5.1.1.2

          The graphs are a result of current economic theory explaining that foreign investment makes the global economy larger and therefore make everyone better off. The graphs also show that the smaller economy will be worse off though as it’s return to capital (profits) is reduced as they’re now repatriated back to the larger economy.

          The general rule is that no underdeveloped nation has acheived developed status in modern economic history without access to foreign capital.

          Perhaps because they weren’t given a chance. As I said in another thread – those communities weren’t poor until we screwed things up for them.

          Secondly, if foreign investment is harmful to New Zealand, then isn’t New Zealand investment in foreign countries harmful to other countries’ economies?

          Yes Tim, it is and yes, I think NZ companies and crown organizations should be prevented from investing overseas.

    • Tim Ellis 5.2

      Galeandra, if a kiwishare mechanism can be established that doesn’t diminish companies’ access to capital, invites more retail investors into the market and increases New Zealanders’ financial literacy and investment options, I’m all for it.

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    Buzz from the Beehive Pharmac has been given a financial transfusion and a new chair to oversee its spending in the pharmaceutical business. Associate Health Minister David Seymour described the funding for Pharmac as “its largest ever budget of $6.294 billion over four years, fixing a $1.774 billion fiscal cliff”. ...
    Point of OrderBy Bob Edlin
    3 days ago
  • FastTrackWatch – The case for the Government’s Fast Track Bill
    Bryce Edwards writes – Many criticisms are being made of the Government’s Fast Track Approvals Bill, including by this writer. But as with everything in politics, every story has two sides, and both deserve attention. It’s important to understand what the Government is trying to achieve and its ...
    Point of OrderBy poonzteam5443
    3 days ago
  • Bernard’s pick 'n' mix for Monday, April 29
    TL;DR: Here’s my top 10 ‘pick ‘n’ mix of links to news, analysis and opinion articles as of 10:10am on Monday, April 29:Scoop: The children's ward at Rotorua Hospital will be missing a third of its beds as winter hits because Te Whatu Ora halted an upgrade partway through to ...
    The KakaBy Bernard Hickey
    3 days ago
  • Gordon Campbell on Iran killing its rappers, and searching for the invisible Dr. Reti
    span class=”dropcap”>As hideous as David Seymour can be, it is worth keeping in mind occasionally that there are even worse political figures (and regimes) out there. Iran for instance, is about to execute the country’s leading hip hop musician Toomaj Salehi, for writing and performing raps that “corrupt” the nation’s ...
    3 days ago
  • Auckland Rail Electrification 10 years old
    Yesterday marked 10 years since the first electric train carried passengers in Auckland so it’s a good time to look back at it and the impact it has had. A brief history The first proposals for rail electrification in Auckland came in the 1920’s alongside the plans for earlier ...
    3 days ago
  • Coalition's dirge of austerity and uncertainty is driving the economy into a deeper recession
    Right now, in Aotearoa-NZ, our ‘animal spirits’ are darkening towards a winter of discontent, thanks at least partly to a chorus of negative comments and actions from the Government Photo: Lynn Grieveson / The KākāTL;DR: These are the six things that stood out to me in news and commentary on ...
    The KakaBy Bernard Hickey
    3 days ago
  • Disability Funding or Tax Cuts.
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    Nick’s KōreroBy Nick Rockel
    3 days ago
  • Of the Goodness of Tolkien’s Eru
    April has been a quiet month at A Phuulish Fellow. I have had an exceptionally good reading month, and a decently productive writing month – for original fiction, anyway – but not much has caught my eye that suggested a blog article. It has been vaguely frustrating, to be honest. ...
    3 days ago
  • 2024 SkS Weekly Climate Change & Global Warming News Roundup #17
    A listing of 31 news and opinion articles we found interesting and shared on social media during the past week: Sun, April 21, 2024 thru Sat, April 27, 2024. Story of the week Anthropogenic climate change may be the ultimate shaggy dog story— but with a twist, because here ...
    4 days ago
  • Pastor Who Abused People, Blames People
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    David FarrierBy David Farrier
    4 days ago
  • Vic Uni shows how under threat free speech is
    The new Victoria University Vice-Chancellor decided to have a forum at the university about free speech and academic freedom as it is obviously a topical issue, and the Government is looking at legislating some carrots or sticks for universities to uphold their obligations under the Education and Training Act. They ...
    Point of OrderBy poonzteam5443
    4 days ago
  • Winston remembers Gettysburg.
    Do you remember when Melania Trump got caught out using a speech that sounded awfully like one Michelle Obama had given? Uncannily so.Well it turns out that Abraham Lincoln is to Winston Peters as Michelle was to Melania. With the ANZAC speech Uncle Winston gave at Gallipoli having much in ...
    Nick’s KōreroBy Nick Rockel
    4 days ago
  • 25
    She was born 25 years ago today in North Shore hospital. Her eyes were closed tightly shut, her mouth was silently moving. The whole theatre was all quiet intensity as they marked her a 2 on the APGAR test. A one-minute eternity later, she was an 8.  The universe was ...
    More Than A FeildingBy David Slack
    4 days ago
  • Fact Brief – Is Antarctica gaining land ice?
    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 in collaboration with members from our Skeptical Science team. You can submit claims you think need checking via the tipline. Is Antarctica gaining land ice? ...
    5 days ago
  • Policing protests.
    Images of US students (and others) protesting and setting up tent cities on US university campuses have been broadcast world wide and clearly demonstrate the growing rifts in US society caused by US policy toward Israel and Israel’s prosecution of … Continue reading ...
    KiwipoliticoBy Pablo
    5 days ago
  • Open letter to Hon Paul Goldsmith
    Barrie Saunders writes – Dear Paul As the new Minister of Media and Communications, you will be inundated with heaps of free advice and special pleading, all in the national interest of course. For what it’s worth here is my assessment: Traditional broadcasting free to air content through ...
    Point of OrderBy poonzteam5443
    5 days ago
  • Bryce Edwards: FastTrackWatch – The Case for the Government’s Fast Track Bill
    Many criticisms are being made of the Government’s Fast Track Approvals Bill, including by this writer. But as with everything in politics, every story has two sides, and both deserve attention. It’s important to understand what the Government is trying to achieve and its arguments for such a bold reform. ...
    Democracy ProjectBy bryce.edwards
    5 days ago
  • Luxon gets out his butcher’s knife – briefly
    Peter Dunne writes –  The great nineteenth British Prime Minister, William Gladstone, once observed that “the first essential for a Prime Minister is to be a good butcher.” When a later British Prime Minister, Harold Macmillan, sacked a third of his Cabinet in July 1962, in what became ...
    Point of OrderBy poonzteam5443
    5 days ago
  • More tax for less
    Ele Ludemann writes – New Zealanders had the OECD’s second highest tax increase last year: New Zealanders faced the second-biggest tax raises in the developed world last year, the Organisation for Economic Cooperation and Development (OECD) says. The intergovernmental agency said the average change in personal income tax ...
    Point of OrderBy poonzteam5443
    5 days ago
  • Real News vs Fake News.
    We all know something’s not right with our elections. The spread of misinformation, people being targeted with soundbites and emotional triggers that ignore the facts, even the truth, and influence their votes.The use of technology to produce deep fakes. How can you tell if something is real or not? Can ...
    Nick’s KōreroBy Nick Rockel
    5 days ago
  • Another way to roll
    Hello! Here comes the Saturday edition of More Than A Feilding, catching you up on the past week’s editions.Share ...
    More Than A FeildingBy David Slack
    5 days ago
  • Simon Clark: The climate lies you'll hear this year
    This video includes conclusions of the creator climate scientist Dr. Simon Clark. It is presented to our readers as an informed perspective. Please see video description for references (if any). This year you will be lied to! Simon Clark helps prebunk some misleading statements you'll hear about climate. The video includes ...
    5 days ago
  • Cutting the Public Service
    It is all very well cutting the backrooms of public agencies but it may compromise the frontlines. One of the frustrations of the Productivity Commission’s 2017 review of universities is that while it observed that their non-academic staff were increasing faster than their academic staff, it did not bother to ...
    PunditBy Brian Easton
    6 days ago
  • Luxon’s demoted ministers might take comfort from the British politician who bounced back after th...
    Buzz from the Beehive Two speeches delivered by Foreign Affairs Minister Winston Peters at Anzac Day ceremonies in Turkey are the only new posts on the government’s official website since the PM announced his Cabinet shake-up. In one of the speeches, Peters stated the obvious:  we live in a troubled ...
    Point of OrderBy Bob Edlin
    6 days ago
  • This is how I roll over
    1. Which of these would you not expect to read in The Waikato Invader?a. Luxon is here to do business, don’t you worry about thatb. Mr KPI expects results, and you better believe itc. This decisive man of action is getting me all hot and excitedd. Melissa Lee is how ...
    More Than A FeildingBy David Slack
    6 days ago
  • The Waitangi Tribunal is not “a roving Commission”…
    …it has a restricted jurisdiction which must not be abused: it is not an inquisition   NOTE – this article was published before the High Court ruled that Karen Chhour does not have to appear before the Waitangi Tribunal Gary Judd writes –  The High Court ...
    Point of OrderBy poonzteam5443
    6 days ago
  • Is Oranga Tamariki guilty of neglect?
    Lindsay Mitchell writes – One of reasons Oranga Tamariki exists is to prevent child neglect. But could the organisation itself be guilty of the same? Oranga Tamariki’s statistics show a decrease in the number and age of children in care. “There are less children ...
    Point of OrderBy Bob Edlin
    6 days ago
  • Three Strikes saw lower reoffending
    David Farrar writes: Graeme Edgeler wrote in 2017: In the first five years after three strikes came into effect 5248 offenders received a ‘first strike’ (that is, a “stage-1 conviction” under the three strikes sentencing regime), and 68 offenders received a ‘second strike’. In the five years prior to ...
    Point of OrderBy poonzteam5443
    6 days ago
  • Luxon’s ruthless show of strength is perfect for our angry era
    Bryce Edwards writes – Prime Minister Christopher Luxon has surprised everyone with his ruthlessness in sacking two of his ministers from their crucial portfolios. Removing ministers for poor performance after only five months in the job just doesn’t normally happen in politics. That’s refreshing and will be extremely ...
    Point of OrderBy poonzteam5443
    6 days ago
  • 'Lacks attention to detail and is creating double-standards.'
    TL;DR: These are the six things that stood out to me in news and commentary on Aotearoa-NZ’s political economy in the two days to 6:06am on Thursday, April 25:Politics: PM Christopher Luxon has set up a dual standard for ministerial competence by demoting two National Cabinet ministers while leaving also-struggling ...
    The KakaBy Bernard Hickey
    6 days ago
  • One Night Only!
    Hi,Today I mainly want to share some of your thoughts about the recent piece I wrote about success and failure, and the forces that seemingly guide our lives. But first, a quick bit of housekeeping: I am doing a Webworm popup in Los Angeles on Saturday May 11 at 2pm. ...
    David FarrierBy David Farrier
    6 days ago
  • What did Melissa Lee do?
    It is hard to see what Melissa Lee might have done to “save” the media. National went into the election with no public media policy and appears not to have developed one subsequently. Lee claimed that she had prepared a policy paper before the election but it had been decided ...
    PolitikBy Richard Harman
    6 days ago
  • Skeptical Science New Research for Week #17 2024
    Open access notables Ice acceleration and rotation in the Greenland Ice Sheet interior in recent decades, Løkkegaard et al., Communications Earth & Environment: In the past two decades, mass loss from the Greenland ice sheet has accelerated, partly due to the speedup of glaciers. However, uncertainty in speed derived from satellite products ...
    7 days ago
  • Maori Party (with “disgust”) draws attention to Chhour’s race after the High Court rules on Wa...
    Buzz from the Beehive A statement from Children’s Minister Karen Chhour – yet to be posted on the Government’s official website – arrived in Point of Order’s email in-tray last night. It welcomes the High Court ruling on whether the Waitangi Tribunal can demand she appear before it. It does ...
    Point of OrderBy Bob Edlin
    7 days ago
  • Who’s Going Up The Media Mountain?
    Mr Bombastic: Ironically, the media the academic experts wanted is, in many ways, the media they got. In place of the tyrannical editors of yesteryear, advancing without fear or favour the interests of the ruling class; the New Zealand news media of today boasts a troop of enlightened journalists dedicated to ...
    7 days ago
  • “That's how I roll”
    It's hard times try to make a livingYou wake up every morning in the unforgivingOut there somewhere in the cityThere's people living lives without mercy or pityI feel good, yeah I'm feeling fineI feel better then I have for the longest timeI think these pills have been good for meI ...
    Nick’s KōreroBy Nick Rockel
    1 week ago
  • “Comity” versus the rule of law
    In 1974, the US Supreme Court issued its decision in United States v. Nixon, finding that the President was not a King, but was subject to the law and was required to turn over the evidence of his wrongdoing to the courts. It was a landmark decision for the rule ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • Aotearoa: a live lab for failed Right-wing socio-economic zombie experiments once more…
    Every day now just seems to bring in more fresh meat for the grinder. In their relentlessly ideological drive to cut back on the “excessive bloat” (as they see it) of the previous Labour-led government, on the mountains of evidence accumulated in such a short period of time do not ...
    exhALANtBy exhalantblog
    1 week ago

  • Minister acknowledges passing of Sir Robert Martin (KNZM)
    New Zealand lost a true legend when internationally renowned disability advocate Sir Robert Martin (KNZM) passed away at his home in Whanganui last night, Disabilities Issues Minister Louise Upston says. “Our Government’s thoughts are with his wife Lynda, family and community, those he has worked with, the disability community in ...
    BeehiveBy beehive.govt.nz
    15 hours ago
  • Speech to New Zealand Institute of International Affairs, Parliament – Annual Lecture: Challenges ...
    Good evening –   Before discussing the challenges and opportunities facing New Zealand’s foreign policy, we’d like to first acknowledge the New Zealand Institute of International Affairs. You have contributed to debates about New Zealand foreign policy over a long period of time, and we thank you for hosting us.  ...
    BeehiveBy beehive.govt.nz
    15 hours ago
  • Accelerating airport security lines
    From today, passengers travelling internationally from Auckland Airport will be able to keep laptops and liquids in their carry-on bags for security screening thanks to new technology, Transport Minister Simeon Brown says. “Creating a more efficient and seamless travel experience is important for holidaymakers and businesses, enabling faster movement through ...
    BeehiveBy beehive.govt.nz
    17 hours ago
  • Community hui to talk about kina barrens
    People with an interest in the health of Northland’s marine ecosystems are invited to a public meeting to discuss how to deal with kina barrens, Oceans and Fisheries Minister Shane Jones says. Mr Jones will lead the discussion, which will take place on Friday, 10 May, at Awanui Hotel in ...
    BeehiveBy beehive.govt.nz
    23 hours ago
  • Kiwi exporters win as NZ-EU FTA enters into force
    Kiwi exporters are $100 million better off today with the NZ EU FTA entering into force says Trade Minister Todd McClay. “This is all part of our plan to grow the economy. New Zealand's prosperity depends on international trade, making up 60 per cent of the country’s total economic activity. ...
    BeehiveBy beehive.govt.nz
    23 hours ago
  • Mining resurgence a welcome sign
    There are heartening signs that the extractive sector is once again becoming an attractive prospect for investors and a source of economic prosperity for New Zealand, Resources Minister Shane Jones says. “The beginnings of a resurgence in extractive industries are apparent in media reports of the sector in the past ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Ō-Rākau Remembrance Bill passes first reading
    The return of the historic Ō-Rākau battle site to the descendants of those who fought there moved one step closer today with the first reading of Te Pire mō Ō-Rākau, Te Pae o Maumahara / The Ō-Rākau Remembrance Bill. The Bill will entrust the 9.7-hectare battle site, five kilometres west ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Government to boost public EV charging network
    Energy Minister Simeon Brown has announced 25 new high-speed EV charging hubs along key routes between major urban centres and outlined the Government’s plan to supercharge New Zealand’s EV infrastructure.  The hubs will each have several chargers and be capable of charging at least four – and up to 10 ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Residential Property Managers Bill to not progress
    The coalition Government will not proceed with the previous Government’s plans to regulate residential property managers, Housing Minister Chris Bishop says. “I have written to the Chairperson of the Social Services and Community Committee to inform him that the Government does not intend to support the Residential Property Managers Bill ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Independent review into disability support services
    The Government has announced an independent review into the disability support system funded by the Ministry of Disabled People – Whaikaha. Disability Issues Minister Louise Upston says the review will look at what can be done to strengthen the long-term sustainability of Disability Support Services to provide disabled people and ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Justice Minister updates UN on law & order plan
    Justice Minister Paul Goldsmith has attended the Universal Periodic Review in Geneva and outlined the Government’s plan to restore law and order. “Speaking to the United Nations Human Rights Council provided us with an opportunity to present New Zealand’s human rights progress, priorities, and challenges, while responding to issues and ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Ending emergency housing motels in Rotorua
    The Government and Rotorua Lakes Council are committed to working closely together to end the use of contracted emergency housing motels in Rotorua. Associate Minister of Housing (Social Housing) Tama Potaka says the Government remains committed to ending the long-term use of contracted emergency housing motels in Rotorua by the ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Trade Minister travels to Riyadh, OECD, and Dubai
    Trade Minister Todd McClay heads overseas today for high-level trade talks in the Gulf region, and a key OECD meeting in Paris. Mr McClay will travel to Riyadh to meet with counterparts from Saudi Arabia and the Gulf Cooperation Council (GCC). “New Zealand’s goods and services exports to the Gulf region ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Education priorities focused on lifting achievement
    Education Minister Erica Stanford has outlined six education priorities to deliver a world-leading education system that sets Kiwi kids up for future success. “I’m putting ambition, achievement and outcomes at the heart of our education system. I want every child to be inspired and engaged in their learning so they ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • NZTA App first step towards digital driver licence
    The new NZ Transport Agency (NZTA) App is a secure ‘one stop shop’ to provide the services drivers need, Transport Minister Simeon Brown and Digitising Government Minister Judith Collins say.  “The NZTA App will enable an easier way for Kiwis to pay for Vehicle Registration and Road User Charges (RUC). ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Supporting whānau out of emergency housing
    Whānau with tamariki growing up in emergency housing motels will be prioritised for social housing starting this week, says Associate Housing Minister Tama Potaka. “Giving these whānau a better opportunity to build healthy stable lives for themselves and future generations is an essential part of the Government’s goal of reducing ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Tribute to Dave O'Sullivan
    Racing Minister Winston Peters has paid tribute to an icon of the industry with the recent passing of Dave O’Sullivan (OBE). “Our sympathies are with the O’Sullivan family with the sad news of Dave O’Sullivan’s recent passing,” Mr Peters says. “His contribution to racing, initially as a jockey and then ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Speech – Eid al-Fitr
    Assalaamu alaikum, greetings to you all. Eid Mubarak, everyone! I want to extend my warmest wishes to you and everyone celebrating this joyous occasion. It is a pleasure to be here. I have enjoyed Eid celebrations at Parliament before, but this is my first time joining you as the Minister ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Government saves access to medicines
    Associate Health Minister David Seymour has announced Pharmac’s largest ever budget of $6.294 billion over four years, fixing a $1.774 billion fiscal cliff.    “Access to medicines is a crucial part of many Kiwis’ lives. We’ve committed to a budget allocation of $1.774 billion over four years so Kiwis are ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Pharmac Chair appointed
    Hon Paula Bennett has been appointed as member and chair of the Pharmac board, Associate Health Minister David Seymour announced today. "Pharmac is a critical part of New Zealand's health system and plays a significant role in ensuring that Kiwis have the best possible access to medicines,” says Mr Seymour. ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Taking action on Fetal Alcohol Spectrum Disorder
    Hundreds of New Zealand families affected by Fetal Alcohol Spectrum Disorder (FASD) will benefit from a new Government focus on prevention and treatment, says Health Minister Dr Shane Reti. “We know FASD is a leading cause of preventable intellectual and neurodevelopmental disability in New Zealand,” Dr Reti says.  “Every day, ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • New sports complex opens in Kaikohe
    Regional Development Minister Shane Jones today attended the official opening of Kaikohe’s new $14.7 million sports complex. “The completion of the Kaikohe Multi Sports Complex is a fantastic achievement for the Far North,” Mr Jones says. “This facility not only fulfils a long-held dream for local athletes, but also creates ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Diplomacy needed more than ever
    Foreign Minister Winston Peters’ engagements in Türkiye this week underlined the importance of diplomacy to meet growing global challenges.    “Returning to the Gallipoli Peninsula to represent New Zealand at Anzac commemorations was a sombre reminder of the critical importance of diplomacy for de-escalating conflicts and easing tensions,” Mr Peters ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Anzac Commemorative Address, Buttes New British Cemetery Belgium
    Ambassador Millar, Burgemeester, Vandepitte, Excellencies, military representatives, distinguished guests, ladies and gentlemen – good morning and welcome to this sacred Anzac Day dawn service.  It is an honour to be here on behalf of the Government and people of New Zealand at Buttes New British Cemetery, Polygon Wood – a deeply ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Anzac Commemorative Address – NZ National Service, Chunuk Bair
    Distinguished guests -   It is an honour to return once again to this site which, as the resting place for so many of our war-dead, has become a sacred place for generations of New Zealanders.   Our presence here and at the other special spaces of Gallipoli is made ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Anzac Commemorative Address – Dawn Service, Gallipoli, Türkiye
    Mai ia tawhiti pamamao, te moana nui a Kiwa, kua tae whakaiti mai matou, ki to koutou papa whenua. No koutou te tapuwae, no matou te tapuwae, kua honoa pumautia.   Ko nga toa kua hinga nei, o te Waipounamu, o te Ika a Maui, he okioki tahi me o ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • PM announces changes to portfolios
    Paul Goldsmith will take on responsibility for the Media and Communications portfolio, while Louise Upston will pick up the Disability Issues portfolio, Prime Minister Christopher Luxon announced today. “Our Government is relentlessly focused on getting New Zealand back on track. As issues change in prominence, I plan to adjust Ministerial ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • New catch limits for unique fishery areas
    Recreational catch limits will be reduced in areas of Fiordland and the Chatham Islands to help keep those fisheries healthy and sustainable, Oceans and Fisheries Minister Shane Jones says. The lower recreational daily catch limits for a range of finfish and shellfish species caught in the Fiordland Marine Area and ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Minister welcomes hydrogen milestone
    Energy Minister Simeon Brown has welcomed an important milestone in New Zealand’s hydrogen future, with the opening of the country’s first network of hydrogen refuelling stations in Wiri. “I want to congratulate the team at Hiringa Energy and its partners K one W one (K1W1), Mitsui & Co New Zealand ...
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    1 week ago
  • Urgent changes to system through first RMA Amendment Bill
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    1 week ago
  • Overseas decommissioning models considered
    Overseas models for regulating the oil and gas sector, including their decommissioning regimes, are being carefully scrutinised as a potential template for New Zealand’s own sector, Resources Minister Shane Jones says. The Coalition Government is focused on rebuilding investor confidence in New Zealand’s energy sector as it looks to strengthen ...
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    1 week ago
  • Release of North Island Severe Weather Event Inquiry
    Emergency Management and Recovery Minister Mark Mitchell has today released the Report of the Government Inquiry into the response to the North Island Severe Weather Events. “The report shows that New Zealand’s emergency management system is not fit-for-purpose and there are some significant gaps we need to address,” Mr Mitchell ...
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    1 week ago
  • Justice Minister to attend Human Rights Council
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    1 week ago
  • Patterson reopens world’s largest wool scouring facility
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    1 week ago
  • Speech to the Southland Otago Regional Engineering Collective Summit, 18 April 2024
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    1 week ago
  • Government to introduce revised Three Strikes law
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    BeehiveBy beehive.govt.nz
    1 week ago
  • New diplomatic appointments
    Foreign Minister Winston Peters has today announced four new diplomatic appointments for New Zealand’s overseas missions.   “Our diplomats have a vital role in maintaining and protecting New Zealand’s interests around the world,” Mr Peters says.    “I am pleased to announce the appointment of these senior diplomats from the ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Humanitarian support for Ethiopia and Somalia
    New Zealand is contributing NZ$7 million to support communities affected by severe food insecurity and other urgent humanitarian needs in Ethiopia and Somalia, Foreign Minister Rt Hon Winston Peters announced today.   “Over 21 million people are in need of humanitarian assistance across Ethiopia, with a further 6.9 million people ...
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    1 week ago
  • Arts Minister congratulates Mataaho Collective
    Minister for Arts, Culture and Heritage Paul Goldsmith is congratulating Mataaho Collective for winning the Golden Lion for best participant in the main exhibition at the Venice Biennale. "Congratulations to the Mataaho Collective for winning one of the world's most prestigious art prizes at the Venice Biennale.  “It is good ...
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    2 weeks ago
  • Supporting better financial outcomes for Kiwis
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    2 weeks ago

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