David Cunliffe’s speech to the New Zealand Institute
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12:13 pm, March 14th, 2014 - 124 comments
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Tena koutou, tena koutou, tena koutou katoa.
I would like to acknowledge the New Zealand Initiative and its Executive Director, Dr Oliver Hartwich. Oliver it’s great to be here with you today – and I know this group greatly values the open contest of ideas.
You were formed from a merger of the New Zealand Institute and the Business Roundtable. This is not an audience that some would naturally associate with the Labour Party.
But I believe that we have a shared interest in an economic upgrade to a high-value economy that will support better jobs and higher incomes.
It is a project that matters to all New Zealanders, and it is one in which I have personal experience.
Before I entered politics I worked as a business consultant for The Boston Consulting Group. We worked to help companies grow, export and create more value in their operations.
In one project I led a team of mill workers at a large NZ pulp and paper mill.
Our goal was to seek practical ideas from the shop floor workers about how to do things smarter and reduce waste.
My role was to build the system that allowed all the team to contribute their best ideas, and to ensure they were analysed, implemented and tracked.
It worked beyond our expectations. Millions of dollars a year were saved by ideas as simple as changing the wrapping on paper bales and improving work flows.
Together, we saved jobs and helped build the business. It’s a tough industry and there have been other changes since, but we got the best we could out of what we had.
And working together – that’s what we must now do for the New Zealand economy as a whole.
Vision
New Zealanders love to say we live in the best country in the world. And it’s true. The people are great, our landscapes are spectacular, and we have a wonderful multi-cultural society.
But we are not making the most of our potential.
The problem is, while this is the best country in the world to live in, it’s not the best place to make a living.
I want to shift the New Zealand economy into high gear.
I have a vision of a New Zealand that harnesses the potential of all our people.
A vision of a country with the most productive and competitive businesses in the world.
A vision of a country with better jobs and higher wages.
It is a big step to get there.
To achieve this vision we need an economic upgrade.
That’s what I’m here to talk about today.
What’s the problem?
An old Chinese proverb says: “A peasant must stand a long time on a hillside with his mouth open before a roast duck flies in.”
It’s a warning.
Sometimes good things can fall into our lap, like periods of high commodity prices.
But it’s not a serious long-term strategy to tie our economic well-being to forces that are largely beyond our control.
Yes, New Zealand floats like a small boat on the ocean of the global economy. But I refuse to accept we can’t influence our own destiny. Together, we can achieve sustainable long-term growth.
Small states like Sweden, Norway and Singapore prove it is possible. It’s time we woke up to what has been happening in these economies, rather than staying locked in a 1990s time warp.
I’m sure there will be some in the room who disagree. But it is the view of the Labour Party that a disproportionate and growing share of the value of the New Zealand economy is accruing to the top few percent.
Labour supports positive business, but trickle-down economics and its neoliberal parentage have failed New Zealanders and left many of our emerging businesses starved of investment capital and skills.
The opportunity gaps have widened and there is no clear, shared strategy to a high value, high income future.
That’s something Labour will change. We want an economy that works for all New Zealanders.
But in order to share wealth, first we have to make it.
We need to move away from a dependence on commodity price cycles, to build an enduring, high-value, job-rich economy that leverages our innate strengths.
What’s the solution?
An economic upgrade is needed because our economy runs on old “software”.
It’s a combination of poorly-structured investment in infrastructure, macro settings geared towards the interests of a small number of speculators, a hands-off approach to innovation, and a deficit of government-industry partnerships.
We keep doing what we’ve always done in spite of the evidence from those vibrant economies overseas. They show an intelligent hands-on approach plays an essential part in securing long-term sustainable growth.
A successful economy needs the right kinds of capital investment. It needs a culture of innovation and risk-taking which takes years to mature, and sometimes only months to lose.
It often needs partnerships at a regional and sector basis which are hard to build and to maintain.
And it needs a focus on producing more value in our businesses and our economy, instead of just a greater volume of the same old raw products.
A value focus will take a strong, far-sighted government, in partnership with business, to progress.
I have watched with dismay as many sectors of the New Zealand economy have found it increasingly hard to maintain the focus on value. The goal seems to have slipped further away under the current government.
It will be a major strategic priority for the incoming Labour-led Government to support New Zealand business in the journey from volume to value.
From an economy driven by land banking and speculation to one extended by advanced manufacturing and innovation.
I want to set out three main parts to Labour’s economic upgrade:
- Investment,
- Innovation,
- Industry.
Investment
We cannot upgrade our economy without investment. To become a high-tech economy with better jobs and higher wages, then more money going into the right areas is essential.
At the moment there is a serious shortage of cash. The NZX is a shallow cousin of stock markets around the globe. Our savings rate is dismal, meaning most new investment comes from overseas and not from local sources. Our poorly structured foreign direct investment means profits far too often drain overseas, deepening the hole in our current account.
There is significant shortage of capital, especially venture capital to go towards Kiwi businesses.
To make matters worse, most of our investment goes into the out-of-control housing market where property speculators make a killing. The productive economy sees very little of that money.
Our banking and insurance sectors, which are supposed to be the main conduit for financing smart Kiwi businesses, have become almost entirely overseas owned. That doesn’t help Kiwis build an economy they own.
Labour’s strategy is to upgrade the size and focus of our capital markets.
We will dramatically increase the local investment pool available to New Zealand businesses.
We will make KiwiSaver universal.
Every employee will contribute to their KiwiSaver account, not only ensuring financial security for New Zealanders in old age, but also making a significant boost to capital available for investment now. We have seen the success of this across the Tasman. I want to replicate that, and I know I am supported in that goal by many New Zealand businesses.
We are also committed to restarting contributions to the Super Fund. This was one of the great successes of the last Labour Government, and it will be so again under the next one.
But increasing the investment pool is not enough in itself.
Our capital gains tax will dissuade investors from speculating in the housing market and encourage them to put money into the productive exporting side of the economy.
That’s money to invest in the economic upgrade. It’s also policy many New Zealand businesses support.
The second major element to the investment upgrade is overseas investment. Foreign direct investment (FDI) is a good thing, if managed well.
But right now FDI is poorly managed, and it’s Kiwis who are losing out. Overseas investors are buying up land, farms and good companies, then sending the profits and jobs offshore.
New Zealanders want choices in their future. We need to make sure this happens.
Labour will revamp FDI to attract quality investors with a credible business case designed around creating jobs and providing new technology to New Zealand companies.
Overseas investors are welcome to be part of our economy but they must contribute to the upgrade.
Our changes to Overseas Investment Office (OIO) rules will ensure overseas investors will bring access to leading-edge technology and new overseas markets.
Investment works best if costs and barriers to business are reduced. The biggest obstacle to our exporting businesses is the consistently overvalued and volatile exchange rate. Labour has long signalled it will review monetary policy to ensure our dollar is more fairly valued to help business and lower our external balance.
My deputy and Finance spokesperson David Parker is leading this work and will be speaking more on this in the near future.
Increasing investment and getting it into the right areas with the right payoffs will be a major part of the economic upgrade. Primarily it will help fund the economic upgrade for innovation.
Innovation
Innovation is essential to New Zealand’s economic upgrade. To be a high-tech, sustainable economy that offers skilled jobs and high wages we need to be at the forefront of global innovation.
If we don’t innovate we can’t compete.
The innovation upgrade won’t just be about new gadgets and great products. It will require a culture of change.
Thankfully New Zealanders have an innovative culture. We think outside the square. We’ve always had to. We have great bones to build on.
But in commercial terms New Zealand’s investment in R&D is well below par in global terms, and it is in private R&D that we are particularly weak.
Our R&D spend is currently 1.27% (2012) of GDP, of which only 0.58% is private spending. Compare that to Denmark, with 3.07% (2010) or Israel at 4.34% (2010).
We need to turn our numbers around, and fast.
Labour in government will restart New Zealand’s stalled innovation story.
We will renew the R&D tax credit.
We will significantly increase Crown investment in R&D, with a focus on co-funding from the private sector.
Before I became a business consultant and entered politics, I had the privilege of studying at Harvard University. In the United States I saw the value of universities, industry and venture capital working together.
That is the culture Labour will be encouraging in our research and teaching institutions; unleashing our best minds into partnerships with industry.
Labour also brings a broader concept of innovation to the table.
We must meld our creativity with capital to build small to medium companies which dominate in market niches. We must foster talent to develop innovative products and services that people want to buy, and we must protect our intellectual property.
We need to honour and replicate the likes of HamiltonJet, Icebreaker and Orion Health – mid-sized companies that have developed innovative products and services that the world wants to buy.
In these cases, the high value activity and ownership has remained in New Zealand.
But innovation is not just about hard science and new products. It is also about the softer aspects of business, such as distribution and marketing.
Our current innovation problems are hurting us in the industry that will drive our future – ICT.
If we compare ourselves with other smaller successful nations, it soon becomes clear that we have a deficit of around ten thousand high-tech jobs.
Many of our children, and those who are teaching them, are running yesterday’s technology, and are falling behind their peers in the rest of the developed world.
We cannot let that continue. ICT today plays a role similar to the railway in the 19th century. It is the infrastructure that opens up new markets and new supply chains.
Places like Israel have realised the importance of upgrading ICT skills and related creative skills to support growth and innovation in other industries.
We need to follow in their footsteps to upgrade our ICT industry.
Labour is committed to overcoming the digital divide. We will not build a tech-savvy generation without new generation technology.
That’s why our policy is to raise the bar in terms of ensuring access to fast broadband within low-decile schools.
And Labour will introduce a “digital bill of rights” to give certainty to business and all New Zealanders that we can live, work and play safely and productively in the digital world.
We will make further announcements in this important area.
Industry
Investment and innovation are the essential frameworks for supporting business and growth and leading the economic upgrade.
But it is also essential that government mucks in and supports businesses. While I back our business community to lead in the global economy we are competing with far bigger and stronger players than us.
Government should back positive Kiwi businesses, not leave it to the wolves of international trade. Labour will do that. We want good jobs in every region in New Zealand.
That also means attracting industry to New Zealand regions that need it most.
Industry policy has become a dirty word. It isn’t. Regional development has also fallen by the wayside. Labour will bring it back. We want good jobs in every region of New Zealand.
We have witnessed a loss of heart in regional New Zealand. There are opportunities for growth, investment and innovation in our regions, and in sectors such as forestry.
Yes, there are challenges. But experience has shown there are ways to partner with local businesses to create value.
So under Labour the regions will play a major role in the economic upgrade.
It is time that central government stopped treating regional and local government (and their economic development agencies) as second class citizens.
Sustainable economic development means jointly developing one vision, one strategy and one engagement structure for each region.
That means simplifying the governance structures and no wrong door for businesses and communities wanting to engage in building a better future.
It means enhanced coordination and prioritisation of Crown investments, with a focus on transformative projects executed within a strong strategic framework.
Examples could include new infrastructure like a rail head to Northport or dredging the Opotiki Harbour bar to drive new aquaculture.
Or expanding research projects tailored to lead industry clusters like Scion’s Rotorua forestry expertise, or the Marlborough Wine Research Centre.
Or harnessing our polytechs to provide industry-specific training to the 70% of NZ school-leavers who do not go on to university; as centres of excellence that serve the key industries in their area, such as in forestry, tourism, fisheries, ICT, CAD, construction and viticulture.
And post-settlement iwi will have an important role as core asset owners and employers in our regions. They must be part of our shared future.
Success stories tell us something, and that is that when government is a partner in the long journey from volume to value then regions and communities can thrive.
There is no set template for regional growth. But disengagement achieves nothing. We must work together and ensure all our industries are humming.
In the very near future, I’ll be making the first of a series of industry announcements, providing concrete examples of how the economic upgrade will work.
Summary
Today I have outlined the framework for New Zealand’s economic journey to a higher value, higher knowledge, higher income and renewable future.
We want better jobs and higher wages for all New Zealanders.
We all know that in order to sustainably lift incomes we need to sustainably lift productivity.
We all know that just being a producer of raw materials, stuck on the treadmill of commodity price cycles, is not the way to that better future.
Especially when our warped tax system and our inadequate savings system incentivise over-investment in real estate, and under-investment in innovation.
New Zealand must be more than a farm to be harvested by offshore banks. We must grow our manufacturing and high-end services sectors. We must provide opportunities to inspire our best and brightest young innovators to build job creating businesses here in New Zealand.
Today I have set out for you the crucial elements of an economic upgrade that will put us on the road to shared prosperity: Investment, Innovation and Industry.
These require serious policy changes, not tinkering. That’s why we will have:
- Capital gains tax to move from speculation to innovation,
- Universal KiwiSaver to grow our onshore investment capital,
- Monetary policy reform to back our exporters,
- R&D tax credits to encourage innovation,
- A series of industry and regional strategies that grow New Zealand’s wealth.
And all of this will leverage off a sound fiscal policy based on fairness, responsibility and sustainability.
Conclusion
We are a wonderful, beautiful country. We can be a land of hope and opportunity for all New Zealanders. We can truly be – as the late Sir Paul Callaghan dreamed – a place where global talent wants to live.
We are small in size but we don’t have to be small in vision. We cannot bet on all possible futures at once – but we can focus on what we can do well, and do it even better.
Actually we should aim to be world class in every niche we enter into.
And that – by definition – must be a shared journey. We are all in this together. Government and business, employers and workers.
Today has been about setting out the vision for a high value, sustainable future with better jobs and higher wages.
Labour’s economic upgrade is an opportunity to provide the decent society we all want.
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Yesterday, under cover the the biggest political fight of the year, National quietly - covertly, even - introduced anti-foreign interference legislation. The bill is the product of a years-long work-program aimed at countering shit like this and this, and there's unquestionably a need to do something to counter foreign states' ...7 days ago
- The Haka Represents The Best Of Us
A few months ago, I was in an audience watching a Haka-Kapa and as I watched children dance and sing and sway and shout and beat, I couldn’t help but think “The Haka represents the best of us.”Yes, yes - there will be a thousand voices that rush forth to ...7 days ago
- Adding up the climate cost
St Mary’s Bay housing left hanging: Climate risk is systemically underestimated in the climate scenarios used by central banks, and a new report warns 10,000 houses are set to become uninsurable in Aotearoa. Photo: Lynn Grieveson / The KākāLong stories short, here’s the top six news items of note in ...7 days ago
- Auckland chafing at Bishop’s housing intensification orders
One of the major problems the Government has in implementing its ‘going for housing growth’ strategy is that it isn’t giving much funding help to councils. Photo: Lynn Grieveson / The KākāKia ora. Long stories short, here’s my top things to note in Aotearoa’s political economy around housing, climate and ...7 days ago - Friday 15 November 2024
The Treaty Principles Bill continues to dominate political news, with it passing its first reading in the House. Parliament was briefly suspended and Te Pāti Māori MP Hana-Rawhiti Maipi-Clarke suspended for 24 hours after leading a haka that was joined by opposition MPs and the public in the gallery. Willie ...1 week ago
- Weekly Roundup 15-November-2024
Happy Friday, welcome to another round-up of interesting stories about what’s happening in Auckland and other cities. Feel free to add your links in the comments! This post, like all our work, is brought to you by a largely volunteer crew and made possible by generous donations from our readers ...1 week ago
- Are We The Waiting?
And screamingAre we we are, are we we are the waitingAnd screamingAre we we are, are we we are the waitingForget me nots, second thoughts live in isolationHeads or tails and fairy tales in my mindAre we we are, are we we are the waiting unknownThe rage and love, the ...1 week ago - The Hoon around the week to November 15
The podcast above of the weekly ‘Hoon’ webinar for paying subscribers on Thursday night features co-hosts & talking about the week’s news with:The Kākā’s climate correspondent on the latest climate news, including from COP29 this week; on the US Presidential elections, Israel vs Gaza/Iran/Lebanon, Ukraine/Nato vs Russia/North ...1 week ago
- First Tea and Toast, now Milo — why do NZ’s best beverages need so much defending?
Only two months ago, Nicola Willis had to step in to stop Health New Zealand cutting tea and toast for post-birth parents, and now Lester Levy is riding to the rescue with a welcome message for all: our health workers can once again drink Milo, and will no longer need ...1 week ago - Gordon Campbell on the folly of making apologies in a social vacuum.
Day One of the Treaty Principles Bill…and everyone got what they wanted, and did what they liked. Heated words were exchanged. Culturally appropriate acts of outrage were performed. David Seymour got to play the victim card. Willie Jackson got kicked out of class. A comically red-faced Mr Speaker bellowed “Order, ...1 week ago
- Skeptical Science New Research for Week #46 2024
Open access notables Microbial solutions must be deployed against climate catastrophe, Peixoto et al., Nature Communications [comment]: The climate crisis is escalating. A multitude of microbe-based solutions have been proposed, and these technologies hold great promise and could be deployed along with other climate mitigation strategies. However, these solutions have ...1 week ago
- The PM gets some extremely valuable legal advice for free
You can pay a great deal of money for the services of a KC. So just what would some peerless legal writing from 40 or so of them be worth, do you reckon?Priceless, that’s what. It’s not even the half of it, but this is my favourite part of the ...1 week ago - D-day for the government
The government's Treaty Principles Bill is up for its first reading today - bought forward in a rush in a desperate effort to avoid the hikoi which is currently marching on Wellington. But the Prime Minister won’t be there for it – he’s literally running away to Peru! But he ...1 week ago
- 97% of submissions did not want no-cause evictions, Trump chooses a Russian spy for US Intelligence ...
Good morning, and I’m sorry I’ve been away for a couple of days.I’ve been focusing on the Hikoi, and also testing out sentiment on the Treaty Principles Bill. It’s complicated, and the Treaty Principles Bill will be debated in the House today. The Government’s own lawyers have told them the ...1 week ago - Government must vote down ACT Members Bill that would undermine workers’ rights
NZCTU Te Kauae Kaimahi President Richard Wagstaff is calling on the Government to vote down an ACT Party Members Bill that would undermine workers’ rights by making it easier for employers to fire workers. Last week ACT MP Laura Trask’s Employment Relations (Termination of Employment by Agreement) Amendment Bill was ...1 week ago
- Seymour causes thousands of unjustified absences by forcing kids to fight for their rights instead o...
The State would like to remind you that they are in control. They manage your employment prospects, and can destroy the job market you and yours rely on by mass-cancelling construction projects, cutting funding, and firing a good chunk of our public servants. They wield the mechanisms that provide scrutiny ...1 week ago - The Weight of the World
As the weight of the world Hangs on your shoulders The weight of the world Starts to take over again And over again All that you once loved, now you hate So slowly relearn how to meditate To have and to hold And never let go Can you feel it ...1 week ago - Thursday 14 November 2024
The Treaty Principles Bill is set to have its First Reading in the House today, as the Hīkoi mō Te Tiriti continues. More than 40 KCs have written to the Prime Minister and Attorney-General outlining their “grave concerns” about the substance of the Treaty Principles Bill, while an academic and ...1 week ago
- Trump’s return to White House brings the climate’s ‘find out’ phase closer
As we absorb the news of Trump's victory in the US Presidential election, here’s a wrap compiled just before the result of what it might mean for climate action: The UN Secretary General says the prospective departure of the United States would cripple the Paris Agreement, likening it to the ...1 week ago
- Time and Space in the City Centre
Patrick Reynolds is deputy chair of the City Centre Advisory Panel. The header image is from Walthamstow, London The city centre now has a few stretches of street where the space has been repurposed to a people and place focused design from full time traffic use. These are a great ...1 week ago
- An opportunity for a pro-growth tax switch
As the Hikoi against it swells into the tens of thousands, KCs call on National to kill off ACT’s divisive Treaty Principles Bill. Photo: Getty ImagesKia ora. Long stories short, here’s my top things to note in Aotearoa’s political economy around housing, climate and poverty on Thursday, November 14: The ...1 week ago
- Release: Government should be transparent on live exports
Targeted consultation on reinstating live cattle exports by sea won’t allow the New Zealand public to have their say. ...2 hours ago - NZ’s global climate rankings plummet as Govt removes agriculture from ETS
The Government has passed legislation to remove agriculture from the Emissions Trading Scheme (ETS) while Aotearoa’s reputation on climate action plummets. ...16 hours ago - Failed boot camp experiment must end
As legislation to set up boot camps passed its first reading, the Green Party urged the Government to abandon this failed policy experiment for the good of our rangatahi. ...17 hours ago
- Gender-affirming care must centre evidence and health needs, not political posturing
The Ministry of Health has today released an evidence brief regarding the use of puberty blockers in gender-affirming healthcare, amid moves by the government to limit access. ...18 hours ago
- Release: National doesn’t care about manufacturing
The National Government is walking away from our manufacturing sector with constant reports of closures and job losses. ...19 hours ago
- Release: David Parker speech – Piketty, Inequality and Climate Change
David Parker's speech from the University of Auckland's forum on Piketty, Inequality and Climate Change in September 2024. ...19 hours ago
- Release: Youth mental wellbeing no longer a priority for Child Poverty Minister
Louise Upston has revealed her diminished vision for vulnerable youth against a backdrop of snubbed advice, scrapped priorities, shifted goal posts and thousands more children projected to fall into poverty. ...21 hours ago
- Release: National’s lack of climate action taking NZ backwards
National Government’s backward-looking climate policy has seen New Zealand fall seven places on the Climate Change Performance Index to 41 out of 63 countries measured. ...21 hours ago
- Release: Simple reason for drop in emergency housing
When the Government says it has reduced the number of people in emergency housing, what it means is it is stopping people from accessing it in the first place. ...24 hours ago
- Govt’s child wellbeing strategy ‘shallow and shameful’
The Government is turning its back on children by not only weakening child poverty reduction targets, but also removing child mental wellbeing as a priority focus in their Child and Youth Wellbeing Strategy. ...1 day ago
- Release: A historic win for Samoan communities
Labour warmly welcomes the Restoring Samoan Citizenship Bill as it passes its third reading, before becoming law. ...1 day ago
- Government plan to reinstate live animal exports a “national disgrace”
The Government has taken a giant step backwards by reinstating live animal exports. ...2 days ago
- Pasifika justice as Member’s Bill passes final reading
Teanau Tuiono’s Member’s Bill, the Citizenship (Western Samoa Restoration) Amendment Bill, has passed its third reading and will become law. ...2 days ago
- Release: Minister of Education thinks New Zealand ends at the Bombay Hills
The Minister of Education has shown complete disregard for rural communities and their school bus routes in Question Time today. ...2 days ago
- Economists sound alarm on Government’s slash-and-burn approach
A group of prominent economists has released an open letter to the Government, raising grave concerns about the far-reaching consequences of its fiscal policy. ...2 days ago
- Release: Smoking numbers up under Costello’s watch
National’s repeal of Labour’s smokefree legislation has taken New Zealand further away from achieving a Smokefree 2025 and a smokefree generation. ...2 days ago
- Release: Call for Palestine recognition by NZ, Australian and Canadian MPs
Parliamentarians from Australia, Canada and New Zealand have written an open letter to their respective Prime Ministers calling on them to recognise Palestine. ...2 days ago
- Justice Select Committee opens floor for Treaty Principles submissions
Today, the Justice Select Committee has decided to officially open submissions for the controversial Treaty Principles Bill. ...3 days ago
- Power of the people on full display as hīkoi approaches Parliament
Today, Hīkoi mō te Tiriti arrived in Wellington, with thousands gathering to march in unity against the divisive Treaty Principles Bill. ...3 days ago
- Hypocrisy as Te Whatu Ora contractor bill balloons
Te Whatu Ora’s bill for contracting and consulting staff has ballooned by nearly 20 percent under the National Government, breaking a promise they made during the election campaign to cut contractors. ...4 days ago
- Release: Growing pressure to scrap Section 7AA Repeal Bill
The newly released Section 7AA Repeal Bill's select committee report is further evidence that the Government should scrap it. ...5 days ago
- Government’s move to monetise access to nature a slippery slope
The Green Party is voicing serious concerns over the Government’s proposal to charge for access to public conservation land, released today. ...7 days ago
- Green Party condemns the passage of Treaty Principles Bill
The Green Party condemns the passing of the Treaty Principles Bill at first reading, and is clear that the fight is not over. ...1 week ago
- Stand Up for Te Tiriti
Te Tiriti o Waitangi is our country’s founding document. It forms the basis of the relationship between Māori and the Crown – and the Aotearoa New Zealand we live in today. ...1 week ago
- Release: Over 15,000 sign Labour’s open letter to Luxon
As the hīkoi to Parliament continues, Labour has sent an open letter to Prime Minister Christopher Luxon in a last-ditch attempt to get him to kill the Treaty Principles Bill. ...1 week ago
- Fast Track Bill threatens environment, climate and reputation
The fast-track legislation passing its second reading in Parliament is another step towards environmental ruin. ...1 week ago
- Greens join King’s Counsel in calling for Treaty Principles Bill to be abandoned
The Prime Minister must answer the call from a group of senior lawyers of the King’s Counsel to abandon the divisive Treaty Principles Bill. ...1 week ago
- Chris Hipkins’ apology statement to state and faith-based care survivors
...1 week ago
- Release: Labour formally apologises to state and faith-based care survivors
Labour joins with the Government in unreservedly apologising for the abuse, neglect and trauma including torture in state and faith-based care and for ignoring the voices of survivors for too long. ...1 week ago
- Green Party stands in support of survivors of abuse in care
Today, the Green Party stands alongside the survivors of abuse in state care and faith-based care as the Government issues an historic apology. ...1 week ago
- Green Party calls for conscience vote on Treaty Principles Bill
The Green Party has written to the Speaker of the House requesting he enable a personal vote on the Treaty Principles Bill. ...2 weeks ago
- Govt move to exclude journalist risks chilling effect
The Green Party is alarmed by the Government’s move to exclude a journalist from covering this week’s apology for the survivors of abuse in state and faith-based care. ...2 weeks ago
- Without action, an apology will be empty air
For tomorrow’s apology to survivors of abuse in state and faith-based care to hold any water, the Government must not pursue the same policies that drove the abuse in the first place. ...2 weeks ago
- Release: Concerns remain over tobacco interference
Concerns about the tobacco industry’s ability to interfere in government policy making remain, despite the inability of the Office of the Auditor-General to investigate the Government’s decision to halve the excise tax on heated tobacco products. ...2 weeks ago
- Urgent wake-up call on climate
The Climate Change Commission’s latest advice indicates Aotearoa needs to be stepping up on climate action. ...2 weeks ago
- Green MP’s Meme-ber’s Bill set to save the world
Break out the punchlines and dust off your meme folder: Green Party MP Kahurangi Carter’s Copyright (Parody and Satire) Amendment Bill was pulled from the Ballot yesterday. ...2 weeks ago
- Release: Poroporoaki: Ta Robert (Bom) Gillies
Kua hinga te manawa kairākau o Te Rua Tekau Ma Waru Tiwhatiwha te po! Kakarauru i te po! Ka rapuhia kei hea koe kua riro! Haere e te Ika a Whiro ki o tini hoa kua ngaro atu ki te Pō ...2 weeks ago
- Labour, Greens and Te Pāti Māori call on the Prime Minister to block the Treaty Principles Bill
The opposition parties stand united for an Aotearoa that honours Te Tiriti, rather than seeking to rewrite it. Labour, the Greens and Te Pāti Māori are working together against the Government’s divisive Treaty Principles Bill. ...2 weeks ago
- Release: Labour, Greens and Te Pāti Māori call on the Prime Minister to block the Treaty Principle...
The opposition parties stand united for an Aotearoa that honours Te Tiriti, rather than seeking to rewrite it. Labour, the Greens and Te Pāti Māori are working together against the Government’s divisive Treaty Principles Bill. ...2 weeks ago
- NZ must pursue independent foreign policy
The Green Party says the need is greater than ever for Aotearoa New Zealand to pursue an independent foreign policy. ...2 weeks ago
- New facility in Christchurch will improve the lives of young New Zealanders
Mental Health Minister Matt Doocey today opened Kahurangi, an innovative and much-needed facility for Canterbury’s Child, Adolescent, and Family Mental Health Services. “The new state of the art outpatient facility opened today will be a gamechanger for the way mental health is delivered for young people in Canterbury,” says Mr ...20 minutes ago - Driver safety screens to be installed on Auckland buses
Transport Minister Simeon Brown has welcomed news from the NZ Transport Agency (NZTA) that bus driver protection screens will be installed across Auckland’s bus fleet by 2026.“The Government is committed to improving the safety of working environments for bus drivers, and Budget 2024 allocated $15 million of Crown funding over ...49 minutes ago
- Government action provides Southland farmers more time to meet plan requirements
The Government is taking action to ensure Southland farmers and growers are not affected by unreasonable regional farm plan deadlines, Agriculture Minister Todd McClay, Environment Minister Penny Simmonds and Associate Environment Minister Andrew Hoggard say.“Cabinet has agreed to provide more time for farmers and growers to comply with regional rules ...17 hours ago
- Bill reaffirms Government’s commitment to crack down on serious youth offending
The Oranga Tamariki (Responding to Serious Youth Offending) Bill had its first reading at Parliament today. The Bill reaffirms the Government’s commitment to crack down on serious youth offending, Minister for Children Karen Chhour says. “In recent years we have seen an unacceptable spike in youth offending. “This Bill makes ...18 hours ago
- Critical milestones for earthquake buildings review
Fairer, more sensible rules about managing earthquake risks are a step closer with the passing of legislation and the appointment of an independent chair to provide expert advice, Minister for Building and Construction Chris Penk says. “The Government is committed to reinvigorating our cities and regions to support economic growth, ...18 hours ago
- State of the art radiology machine for Auckland
People in Northland and Auckland will benefit from a new machine for cancer treatment installed at the Regional Cancer and Blood Service at Auckland City Hospital. The MV5 linear accelerator, or LINAC machine, officially opened today targets cancer tumours with pinpoint accuracy. Health Minister Dr Shane Reti says this new, ...19 hours ago
- Foreign Minister to visit Europe
Deputy Prime Minister and Foreign Minister Winston Peters will travel to Europe for high-level talks with France, Germany and the United Kingdom next week. "Since taking office almost a year ago, the Coalition Government has emphasised the importance we place on New Zealand's traditional and likeminded diplomatic and ...19 hours ago
- First arrests made under gang patch ban
Police have made their first arrests under the new gang patch legislation, with two gang members arrested, says Police Minister Mark Mitchell. “Just before 11 this morning, Police in Wairoa apprehended a gang member for wearing a patch to the supermarket. He has been arrested and will now face enforcement ...20 hours ago
- Better support for victims of sexual violence
The Government is proposing two major changes to name suppression laws that will put the views of victims of sexual violence first, Justice Minister Paul Goldsmith says. “We are committed to restoring law and order and these two proposed changes will help ensure the victims of crime are put at ...21 hours ago
- Government moving forward with Regional Deals
Cabinet has agreed to invite all regions to submit proposals for Regional Deals between central and local government that drive economic growth and deliver the infrastructure our country needs, Local Government Minister Simeon Brown and Infrastructure Minister Chris Bishop say. Inviting all regions to propose a Regional Deal that boosts ...22 hours ago
- MSA pilot participant update
One of the ten young men selected to participate in the Military-Style Academy Pilot has allegedly reoffended. Children’s Minister Karen Chhour is disappointed but says it would be naïve to think that none of these young men would reoffend. “I’m saddened that this young person has not taken this opportunity ...22 hours ago
- Fighting for Kiwis in Trade
Delivered at Auckland Trade and Economic Policy School Good morning and thank you Deputy Vice Chancellor Lithander for your warm welcome and for inviting me to open Auckland Trade and Economic Policy School today. A Special thanks to the University of Auckland, the Ministry of Foreign Affairs and Trade and ...23 hours ago
- Attendance rates increase, again
Associate Education Minister David Seymour says that school attendance is continuing to rise. In Term 3 of 2024 51.3 per cent of students attended school regularly, an increase of 5.3 percentage points from 46 per cent in Term 3 of 2023. “This Government has prioritised student attendance and it is ...1 day ago
- Improving the lives of young New Zealanders
Ensuring New Zealand is the best place in the world for children and young people is the vision at the heart of the Government’s new Child and Youth Strategy, Child Poverty Reduction Minister Louise Upston says. “Childhood represents a huge opportunity to set people on a positive path towards living ...1 day ago
- Government continues work to reinstate livestock exports by sea
The Government is reinstating the trade of livestock exports by sea while ensuring the highest standards of animal welfare, says Associate Minister of Agriculture Andrew Hoggard.“The Government will introduce legislation changes to reinstate the trade, enhance oversight, and strengthen requirements for exporters to identify risks and manage the welfare of ...2 days ago
- Speech to the National Quality Forum 2024
Tēnā koutou katoa – it is a pleasure to be here today. I would like to begin by acknowledging the important leadership role you all play in ensuring a quality health system New Zealanders can trust. There is enormous clinical expertise in this room covering a wide range of disciplines. ...2 days ago
- New Zealand’s COP29 National Statement
Tēnā koutou katoa. Mr President, Excellencies, Delegates. New Zealand, and all nations represented here today, are already dealing with the impacts of climate change. Our households, businesses, and economies are bearing the costs of its effects. The choices we make now will shape the severity of these impacts for generations ...2 days ago
- Latest Quarterly Investment Report released
The Government has released its second Quarterly Investment Report (QIR) which shows substantial work still to be done by agencies to improve investment reporting and meet the Government’s expectations, Infrastructure and Acting Finance Minister Chris Bishop says. “New Zealand has significant infrastructure and investment needs. The Government is determined to get ...2 days ago
- New Zealand supporting loss and damage fund
Climate Change Minister Simon Watts announced New Zealand will contribute NZ$10 million to the new Fund for Responding to Loss and Damage while at the annual United Nations Climate Change Conference (COP29) in Baku, Azerbaijan. “New Zealand is joining the global effort to address the significant challenge of responding to ...2 days ago
- Gang crackdown begins at stroke of midnight
The free ride for gangs is over when the clock strikes midnight tonight, with tough new laws officially coming into effect, Justice Minister Paul Goldsmith and Police Minister Mark Mitchell say. “Gang patches will no longer be able to be worn in public. To earn the right to wear a ...2 days ago
- LGFA increases borrowing capacity to support high growth councils
The Government is welcoming the decision by the Local Government Funding Agency to increase access to financing tools for fast growing councils to support greater investment in critical infrastructure, Local Government Minister Simeon Brown says.“Communities across the country are facing an infrastructure deficit and significant population growth is projected in ...2 days ago
- Temporary Traffic Management costs revealed
The Government has revealed that over the past three years, the New Zealand Transport Agency (NZTA) has spent an eyewatering $786 million of taxpayers’ money on road cones and temporary traffic management (TTM), Transport Minister Simeon Brown says.“When I became Minister, I was surprised to learn that that NZTA did ...2 days ago
- Jurisdiction of Disputes Tribunal to double
Legislation that will double the financial jurisdiction of the Disputes Tribunal from $30,000 to $60,000 has passed first reading in Parliament today, Justice Minister Paul Goldsmith. “We need to improve court timeliness and access to justice so that Kiwis and get on with their lives. Court delays affect everyone, the ...3 days ago
- Protecting New Zealand from foreign interference
Legislation that will specifically criminalise foreign interference and strengthen espionage offences has passed first reading in Parliament today, Justice Minister Paul Goldsmith says. “It is normal and appropriate for states to interact and work to influence one another. This encourages cooperation and can have mutually beneficial outcomes. “However, the reality ...3 days ago
- Significant milestone for Canterbury Road of National Significance
Transport Minister Simeon Brown has welcomed news that the NZ Transport Agency (NZTA) Board has approved funding towards pre-implementation and early works on the State Highway 1 (SH1) Belfast to Pegasus Motorway and Woodend Bypass Road of National Significance (RoNS). “Reaching this significant milestone is a reflection of our Government’s ...3 days ago
- Health survey results to help drive change
Health Minister Dr Shane Reti says findings from the annual Health Survey highlight the need to continue driving better health outcomes for New Zealanders. The New Zealand Health Survey is an annual snapshot of key metrics measured from July 2023 – July 2024. Findings released this morning include: In 2023/24, ...3 days ago
- Final push needed to get to Smokefree 2025
A renewed effort to get people to quit smoking will build on what has worked to date and target the groups who most need support, Associate Health Minister Casey Costello said today. “The latest New Zealand Health Survey results show the daily smoking rate at 6.9 per cent and we ...3 days ago
- New diplomatic appointments
Foreign Affairs Minister Winston Peters has announced four new diplomatic appointments. “Our diplomats play an important role in ensuring New Zealand’s interests are maintained and enhanced across the world,” Mr Peters says. “It is a pleasure to announce the appointment of these senior diplomats from the Ministry of Foreign ...3 days ago
- Next steps for Regulatory Standards Bill
Regulation Minister David Seymour has today announced the next steps in the Government’s plan improve the quality of regulation by opening consultation on a proposed Regulatory Standards Bill. “New Zealand's low wages can be blamed on low productivity, and low productivity can be blamed on poor regulation,” says Mr Seymour. ...3 days ago
- Red Tape Tipline goes live
Minister for Regulation David Seymour has today announced that the Ministry for Regulation’s Red Tape Tipline is now live. “We want to hear about your red tape horror stories. From today, New Zealanders will have a say on how they are regulated through an online portal,” says Mr Seymour. The ...3 days ago
- Youth Parliament 2025 announced
The Minister for Youth Matt Doocey has today announced the eleventh Youth Parliament will be taking place in 2025. “Youth Parliament offers a unique youth development opportunity to young people from across New Zealand to experience the political process and learn about how government works,” says Mr Doocey. “The two-day ...4 days ago
- Police stats show promising change
After nearly a year in Government, Kiwis have seen significant change across law and order with promising early results shown across some Police statistics, says Police Minister Mark Mitchell. “In August 2023, I told New Zealanders that if they had not started to see a change in public safety within ...4 days ago
- Better coordination of anti-scam efforts
With the launch of Fraud Awareness Week, the Government is committing to new coordination efforts across industry and government to combat online scams, Commerce and Consumer Affairs Minister Andrew Bayly says. “Online financial scams are a growing problem for New Zealand. New data released today shows that Kiwis lost nearly ...4 days ago
- Minister to consider 7AA select committee report
Minister for Children Karen Chhour will consider the recommendations made by the Social Services and Community Committee in its report back to Parliament on the Oranga Tamariki (Repeal of Section 7AA) Amendment Bill. “I want to thank the people who made submissions and those who appeared before the committee in ...4 days ago
- Defence Minister to attend ASEAN meeting
Defence Minister Judith Collins will this week attend the Association of Southeast Asian Nations (ASEAN) Defence Ministers’ Meeting-Plus in Vientiane, Laos. “We need to take every opportunity to engage with our international partners, given the increasingly unstable geo-political situation,” Ms Collins says. “New Zealand has a long-standing commitment to this ...4 days ago
- Launching the White Ribbon Ride
The Minister for the Prevention of Family and Sexual Violence, Karen Chhour, was on hand to wish riders well at the start of the North Island leg of the White Ribbon Ride in Whakatāne this morning. The ride helps mark the International Day for the Elimination of Violence against Women, ...5 days ago
- Construction to begin on next stage of Papakura to Drury
Construction on the next stage of the SH1 Papakura to Drury project will begin early next month, with the contract for works awarded to Fulton Hogan, Transport Minister Simeon Brown says. "SH1 Papakura to Drury is a key project that will drive economic growth and productivity, reduce congestion, and enable people ...6 days ago
- NZ signs trade deal with Costa Rica, Iceland and Switzerland
Trade and Agriculture Minister Todd McClay has signed a pioneering trade agreement that prioritises New Zealand’s sustainable exports at a ceremony during APEC in Peru today. “The Agreement on Trade and Sustainability (ACCTS), between Costa Rica, Iceland, and Switzerland was concluded in July of this year and opens up significant ...6 days ago
- Government and iwi work together on aquaculture
Five new Aquaculture Settlement Areas will help ensure Ngāi Tahu shares in the opportunities aquaculture offers for Southland’s economy, Oceans and Fisheries Minister Shane Jones says. “The Aquaculture Settlement Areas (ASAs) I’m announcing today set aside space so the Crown and Ngāi Tahu can assess their potential for aquaculture development. ...7 days ago
- Government launches review to ensure electricity market is fit-for-purpose
The terms of reference for a review of the performance of the electricity market have been released. The review, initiated by the Coalition Government during the power crisis in winter will look at whether current regulations and market design support economic growth and access to reliable and affordable electricity, Energy Minister ...7 days ago
- RNA editing is the next frontier in gene therapy – here’s what you need to know
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 IoanaB/Shutterstock The United States Food and Drug Administration has just approved the first-ever clinical trial that uses CRISPR-Cas13 RNA editing. Its ...2 hours ago - Yes, you still need to use sunscreen, despite what you’ve heard on TikTok
Source: The Conversation (Au and NZ) – By Katie Lee, PhD Candidate, Dermatology Research Centre, The University of Queensland Karolina Grabowska/Pexels Summer is nearly here. But rather than getting out the sunscreen, some TikTokers are urging followers to chuck it out and go sunscreen-free. They claim it’s healthier ...2 hours ago
- Humans are killing off the old and wise animals that hold nature together. Here’s what must change
Source: The Conversation (Au and NZ) – By Keller Kopf, Senior Lecturer in Ecology, Charles Darwin University Laxmikant Ameenagad, Shutterstock In humans and other animals, ageing is generally associated with a decline in biological function. But scientists are now discovering older animals perform vital roles in populations and ecosystems. ...2 hours ago
- A man scouring Google Earth found a mysterious scar in the Australian outback – and now scientists...
Source: The Conversation (Au and NZ) – By Matej Lipar, Adjunct Research Fellow, School of Earth and Planetary Sciences, Curtin University Author provided/Google Earth Earlier this year, a caver was poring over satellite images of the Nullarbor Plain when he came across something unexpected: an enormous, mysterious scar etched ...2 hours ago
- Design as a movement: how First Nations people take ownership of their cultural stories through fash...
Source: The Conversation (Au and NZ) – By Treena Clark, Chancellor’s Indigenous Research Fellow, Faculty of Design, Architecture and Building, University of Technology Sydney Once located 250 metres to the east of the Art Gallery of South Australia, the grand beaux-arts style Jubilee Exhibition Building was constructed to house the ...2 hours ago
- ‘We need more doctors’ – Support for new Waikato medical school
The Association of Salaried Medical Specialists says a third medical school and more students in Auckland and Otago are both needed. ...2 hours ago - Cricket balls can concuss and even kill batters – at all levels, helmet use must be taken seriousl...
Source: The Conversation (Au and NZ) – By Annette Greenhow, Assistant Professor, Faculty of Law, Bond University Linda George/Shutterstock The ten-year anniversary of the death of much-loved Australian cricketer Phillip Hughes falls on November 27. The 25-year-old’s life was tragically cut short in 2014 when a bouncer ...2 hours ago
- Hold the roosters, no economic dawn yet
Treasury likely to downgrade economic forecast while Chris Bishop says the government won’t be ‘a slave to a surplus’, writes Anna Rawhiti-Connell in this extract from The Bulletin. To receive The Bulletin in full each weekday, sign up here. Recession will be deeper and last longer — Treasury At a recent Spinoff ...3 hours ago - Knowing superstitions aren’t real doesn’t stop us behaving superstitiously – why?
Source: The Conversation (Au and NZ) – By Stephanie Gomes-Ng, Senior Lecturer of Psychology, Auckland University of Technology Getty Images Former New Zealand prime minister John Key has three white rabbits painted on his helicopter, a nod to his “massively superstitious” habit of repeating “white rabbits” three times at ...4 hours ago
- Government slammed for pushing ahead with boot camps while trial still under way
The coalition has "absolutely no intention of listening to the evidence that comes out of their experiment", Labour MP says. ...5 hours ago
- Smoke and mirrors in heated tobacco debate
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The vision that Cunliffe is spelling out for NZ sounds infinitely more promising than National’s approach of selling out to the lowest bidder, giving contracts (& thus exporting jobs) to overseas companies, giving money to those already wealthy and keeping wage low (or lowering them) for those that are working on wages that already don’t cover living costs, ignoring workers rights to good work conditions and degenerating workers power to negotiate, amongst other things.
It sounds just like what I was advocating. Deeper capital markets, more focus on investment and saving, incentivize capital investment in labour.
So why do I get called every name under the sun, yet when Cunliffe says it, you applaud? That’s what blind tribalism gets you, huh.
Good on Cunliffe. He’s gone up in my estimation.
Every name under the sun? I’ve barely got started.
It’s because your prescription will deliver the opposite of your stated aims, and this is blindingly obvious to anyone who’s been paying attention.
Not to you it seems, as Cunliffe is singing from the same songbook. He’s even quoting the exact same source I did, namely Sir Paul Callaghan.
“The left must convince the voters that New Zealand is on the wrong track fiscally, and present policy that would make it better.”
“what expenditure would you cut?”
“There is no child poverty”
Have you come to terms with Puddleglum’s exposure of your innumeracy yet?
Cunliffe is advocating the exact same things I do, namely deeper capital markets, more focus on investment and saving, incentivize capital investment in labour.
Which is why you’re desperately trying to change the topic. Nice to know you’ve come around after someone else told you what to think.
English Comprehension 101, OAB’s special course for special wingnuts.
My remark “your prescription will deliver the opposite of your stated aims” is an attack on your prescription, not your stated aims.
Puddleglum pointed out how innumerate you are with reference to your errors in understanding the definition of poverty. I had spotted them before that, so I gambled that someone else would fill in the gap for me. Puddleglum obliged. However, I note that you had been drivelling about your wizened understanding of “the mean” whereas Puddleglum referenced the median. Nonetheless, Puddleglum’s argument holds.
You’re innumerate, and yet you arrogantly presume to lecture on Economics. Fuck off.
Stick to the topic.
And go fuck yourself, too, but only if someone else tells you it’s okay first. Heaven forbid you’d think for yourself.
In response to your off-topic dribbling:
http://www.adamsmith.org/blog/economics/the-problem-with-relative-poverty
Have you comprehended that everyone can be paid at least sixty percent of the mean yet?
Why are you so desperate to change the topic? Go argue it in that thread, if you want.
This topic is about Cunliffe’s economic prescription, correctly identifying the need for deeper capital markets, savings, investment and investment in labour.
I agree with him.
How about you? You may need to ask someone else first….
I agreed with him a long time before I’d heard of him. His prescriptions are hardly revolutionary, after all.
What I’m saying is that the policy prescriptions you have proposed here (and I have more quotes from you to demonstrate that if need be) will deliver the opposite of the outcomes Cunliffe wants for New Zealand.
“His prescriptions are hardly revolutionary, after all.”
Same thing I’ve been saying, but when I say it, you go all tribal.
I look forward to seeing more detail from The Cunliffe.
No, cretin, it isn’t the aims you’ve been paying lip service to, it’s the established FACT that your prescription delivers the opposite of Cunliffe’s. Are you so fucking stupid you think repeatedly missing the point will prevent everyone else from noticing?
Yes, you are. Innumerate, cretinous, stupid. A typical National Party gimp. Low IQ, enlarged amygdala, utterly incapable of anything other than wearing uniforms and opening gates other people built.
How can it when I’m agreeing with him?
It seems to be causing a cognitive dissonance meltdown in you that is really quite amusing.
English comprehension 101, lesson three.
You agree with his ends, not his means.
PS: you even disagree with his facts, Maggot, when you deny child poverty.
I’m not sure agreeing with the ends is a problem.
Let’s have a look at his methods:
Capital gains tax to move from speculation to innovation,
Needs more detail. Imposing a capital gains tax, alone, does not move money from speculation to innovation.
Universal KiwiSaver to grow our onshore investment capital,
Needs more detail. How is he going ensure NZers are diversified? Directing Kiwisaver into a tiny economy on the far side of the world increases risk cost.
Monetary policy reform to back our exporters,
Needs more detail.
R&D tax credits to encourage innovation,
Needs more detail. How is he going to prevent abuse?
A series of industry and regional strategies that grow New Zealand’s wealth.
Needs more detail.
Cunliffe is wrong.
There, I said it.
He’s still caught up in the free-market capitalism delusion.
Sir Paul Callaghan rip
I had the privilege to listen to one of his last public presentations at 2011 labour party congress cunliffes speech was sir pauls blue print for the new zealand economy and I will take sir pauls plan over john keys anytime.
To the contrary, I think it’s great to hear this from you, JLTW. I think it shows you to be a pragmatic thinker with an open mind.
Does this mean that Cunliffe gets your vote in September? 🙂
+1 Huginn
@Just Like Tiger Woods.
It is nice to see you saying something positive.
Labour is a much better option to vote for than the National sell-outs
Well, I’ll see what their other policies are, whether I think they can deliver them, then contrast them with Nationals.
Labour would also have to distance themselves from the Greens, or give an indication of what Green policy positions they would adopt, and what they would rule out. I like how Cunliffe is talking centrist economic policy, but I have no time for the Greens and would not vote to enable them.
Hi JLTW,
I have posted a reply to this comment of yours on today’s Open Mike (15th March). It is post 4.
I did this because my question would lead to the conversation getting off this thread’s topic – being a question re your stance on the Greens and not Labour.
interesting speech. now the right will pick it apart BUT you can only pick apart something that says something.
i am particularly interested in how this will be dealt with:
” The biggest obstacle to our exporting businesses is the consistently overvalued and volatile exchange rate. Labour has long signalled it will review monetary policy to ensure our dollar is more fairly valued to help business and lower our external balance.”
+1
define fair. is it fair to consumers and poor people struggling to pay for petrol? or is it fair to exporters seeking greater revenue for their product?
That seems to me like a false and misleading dichotomy. What makes you think it can’t be both?
so you know the optimal exchange rate point for our dollar vs say the US$, and at the same time the AUS$? and how does that fit with the relationship between those two currencies? you wouldn’t want to create the ability for arbitrage between the three would you? coz i’d speculate and take advantage of it. has the reserve bank the reserves to push our dollar the 2-3 base points in any direction it needs to go prevent distortion?
Currency controls are a multi headed hydra. I agree that there needs to be fair environment for our exporters to work in. But they seem to be succeeding despite the pressures of a high dollar. it, like interest rates, are not the only factor.
It’s a nice idea, but until there is some concrete policy as to how labour expects to achieve this “fairness” (which, incidentally, you can’t define and should be able to if you believe it exists) i am sceptical of it working at all.
Strength is strength. Sun Tzu talks about the different types of ground (external factors), perhaps you should study that a little.
so you have no idea what i’m talking about. yet you honestly believe your opinion is important and should be listened to. OAB, you are a complete idiot. even the internet is poorer for you being on it. if you typify the average labourite, it’s small wonder they are lacking an intelligent message.
Yes. It is, in fact, implied by the free-market paradigm. It is:
1/(imports/exports)
Thus as our imports increase relative to our exports to the same country the value of our dollar to that countries currency goes down. This will be done for every country/currency.
The purpose of the exchange rate is, after all, to encourage trade balance between the two countries.
PS, that formula isn’t complete yet.
It’s capitalism as usual, but with a more caring, NZ-focused and inclusive face.
BINGO
Economic growth remains a good thing to aim for, especially if the proceeds are fairly shared with workers.
Can I make a slightly out of left field comment? It is not economic growth per se that is the danger but economic growth coupled with environmental damage that is the problem. We should celebrate the idea that we could have more artists, teachers, counsellors, therapists, doctors etc to look after us but the problem is that growth is coupled with the consumption of resources and the production of pollution.
If we could break that link then there could be a debate about growth being good for the economy.
Cunliffe uses the phrase “long term sustainable growth” more than once.
Kind of hedging his bets while trying to avoid scaring big business interests too much.
And Cunliffe talks about “growth” in relation to innovation, ICT industries and regional growth.
Julian Simon isn’t very popular, but his thesis that the most valuable resource on Earth is the educated healthy human mind is a valuable insight.
Not just educated but experienced. IMO, a lot of the problems we have today is being caused by people who are educated but don’t have any experience. Blinglish comes to mind.
interestingly, all the roles you have listed there are interpersonal ones – ones involved with the caring of others and the emotional labour associated with that. Or the transmission of a creative message to others, taking people away from the literal and arithmetic into a field which might inspire and transform the meaning of their lives.
These are of course all things that the corporate state has sought to either destroy, or corporatise for profit.
In their true form, they are not “economic” roles as understood by the neoliberal mindset – i.e. roles for creating private profit, the transformation and commodification of natural resources for sale, etc.
If Cunliffe is setting out a new definition of what an economy consists of – or perhaps simply going back to the old definition where an economy exists to serve the purposes and needs of the society and its communities (not the other way around) – I would be very interested. However, that is what some would describe as a “radical” agenda.
We have to define what our resources are and what is a sustainable rate of use of them is. Then we develop our economy within those limits. This is real economics rather than the delusional financial stuff that’s taught as economics in our schools and universities.
Great speech, agree with tracey that the Right will try and tear it apart, the problem is that most of our Right are hopeless/lazy people who have relied on Capital Gains or as they put it “Passive Income” to gain their dollars, not clever/enterprising business. just look at what Amy Adam’s is doing with her Canterbury properties…classic National Party wealth generation.
Smart/clever business people will end up siding with Labour, because although there may be an increase in their “Labour/Wage/Salary” costs there will be a much bigger increase in the Top Line…Labour’s historical average GDP growth proves it. Every ones a winner…or as DC says it “Walk and chew gum at the same time”
and this quote:
“Yes, New Zealand floats like a small boat on the ocean of the global economy. But I refuse to accept we can’t influence our own destiny. Together, we can achieve sustainable long-term growth.
Small states like Sweden, Norway and Singapore prove it is possible. It’s time we woke up to what has been happening in these economies, rather than staying locked in a 1990s time warp.
I’m sure there will be some in the room who disagree. But it is the view of the Labour Party that a disproportionate and growing share of the value of the New Zealand economy is accruing to the top few percent.
Labour supports positive business, but trickle-down economics and its neoliberal parentage have failed New Zealanders and left many of our emerging businesses starved of investment capital and skills.”
is spot on the MARK!!!
Norway floats on a sea of gas and oil for its wealth – so this means Labour supports the current governments policy of encouraging more Oil & Gas exploration? I’m totally in favour of that and setting up a Sovereign Wealth Management organisation to reap the benefits. Mighty be tough to get that past the Nimbys in the Greens though aye?
Sweden made big money selling product and materials to fascists during WWII and has invested that loot well. They also have sat right on top of a hugely rich market called Western Europe and have been industrialised for a long time. How does NZ replicate those historical advantages or facts?
Singapore has great geographic advantage sitting atop a major shipping route – they’ve exploited that well and used that advantage to diversify into Financial Services etc. But they have done so under an authoritarian regime which is just a little repressive. Is that what we want NZ to be – all decisions driven by Central Government?
Totally for supporting innovative business practice – but not with state money. What does a career bureaucrat in Wellington know about risk, innovation and business?
But one plus mark for Mr Cunnliffe – at least he is clearly acknowledging the engine of prosperity is business and risk taking. I wonder how that sits with the CTU?
“Norway floats on a sea of gas and oil for its wealth – so this means Labour supports the current governments policy of encouraging more Oil & Gas exploration?”
are national and norways approach to resource extraction the same?
not by a country mile
“. Is that what we want NZ to be – all decisions driven by Central Government?”
this has increased under national
“at least he is clearly acknowledging the engine of prosperity is business and risk taking. I wonder how that sits with the CTU?”
Do workers work somewhere other than businesses now? Do they not matter to the success of a business? Do they not take any risk by accepting a job at a particular workplace?
FFS – must you parrot lines that are so easily dissected?
Polly wants a cracker.
Re: Norways approach to Oil extraction –
I said I was in favour of a Sovereign Wealth Fund approach as per Norways “encouraging more Oil & Gas exploration? I’m totally in favour of that and setting up a Sovereign Wealth Management organisation to reap the benefits”.
I am also in support of a properly risk managed extraction operation – you didn’t reply to how Labour is going to get that past the Greens who want nothing to do with Oil and Gas exploration…
Re: Increased control of by Central Government under National – examples please. Happy to be proved wrong by facts not a blind “increased under National” statement
Re this little set of statements
“Do workers work somewhere other than businesses now? Do they not matter to the success of a business? Do they not take any risk by accepting a job at a particular workplace?”
Workers matter to business absolutely – valuable input to the production process for goods and services.
But in terms of risk taking – what risks are they actually taking?
Compared to the small business owners who employ large numbers of Kiwi workers the risk that a worker is taking is small.
A small business owner often has a mortgage funding facility supporting their business plus having invested their hard won personal financial capital to get the business stood up. They can and some times do lose everything – a worker loses his/her job and can apply elsewhere for another one. Nothing in life, just like life itself, is for ever – change is inevitable
That’s why Business Owners deserve the profits their business ventures generate – because they take the risk of the operation being successful and reap the whirlwind when it fails.
If a worker wants a big piece of the pie – he/she can also form their own competing business and earn the profits the business generates. Or they can gather together and form a co-operative and share the risks and profits amongst themselves..
You can argue that large Corporates exploit workers – in some cases I wouldn’t argue at all that is true – hence why I support unions existence to protect the vulnerable.
But my point stands – business is the engine of growth and opportunity – and I am glad to see Mr Cunliffe admit that
The oil exploration ships are leaving. The talk of huge reserves turns out to have been hype which, along with generous subsidies/bribes, got some of the worst countries in the world to send a few survey vessels down here. No doubt NAct was hoping for a find or two before the elections, but it’s not there. I suppose they’ll be happy with the second prize of cutting environmental protections and doing away with democratic rights to protest. It seems every black burned oil cloud has a silver lining for our masters after all.
Business isn’t the engine of growth. Econ 101 fail.
You’ve got your supply and demand completely around the wrong way. Supply rises to meet demand. Not the other way around.
Remember, all pathways of economic demand must eventually terminate at a person.
So if the population has no money to spend then they cannot create economic demand and the economy tanks.
This is what has happened in many Western economies as the system has contorted to such an extent that the bulk of the population is now mired in debt and is incapable of generating the demand that a growing economy would require.
This afternoon I had a conversation with a local businessman that went along these lines:
BMan: “Australian wages are far too high and need to be cut”.
RL: “So you would like all your customers to be a lot poorer?”
BMan: ” Well yes, but with lower wages I could drop my prices”
RL: “Fine but what about your other costs that are related to asset prices? Are you happy for property and asset prices to drop as well?”
BMan (after a bit of a pause): “I guess that would be ok, but what about the mortgage?”
RL: “That’s the problem with deflation, it’s far worse than inflation because the debt is fixed. Would it not be easier to just devalue the currency instead?”
BMan: “But then you just finish up with a whole lot of imported inflation!”
RL: “But isn’t that just the same as dropping wages? I thought you were keen on that?”
BMan: “But devaluing the currency makes the whole country poorer”
RL: “What not just the workers?”
(Temperature drops a few degrees as it is prone to do around here quite rapidly…)
BMan: “Only weak and failed economies have low value currencies”
(I was tempted at this point to mention how the NZ dollar is almost at parity with the Aussie but I figured that would be a counterproductive tangent)
RL: “So what are we to make of China fixing it’s currency at a fraction of it’s float value then?”
BMan: “Isn’t there a paddock full of merinos where you should be right now?”
Yeah, business people really don’t understand economics.
Demand is extremely important – but was there a demand for the iPhone before it was designed and built then offered for sale? Didn’t Apple take a large risk and invent a product, employ people and firms to produce and distribute it – without the demand existing already??
Demand and Supply co-exist. Some time there is demand for a product or service which is not already available in the market place and someone steps in and fulfils that demand. Other times demand is CREATED by people or business offering new products and services which people have never heard of before
So – no, not econ101 fail. I actually passed that puppy a long time ago….
We don’t need oil and gas extraction. In fact, considering AGW, we’d be far better off without it. You’re a typical RWNJ – you think that there’s only one type of resource and that we need to dig it up ASAP and sell it to become wealthy.
Warner Bros, SkyCity, Rio Tinto, ECan, etc, etc,
The bit that you don’t understand is that they’re more valuable to the business than management.
Lose your job, lose your house and family. Massive amounts of stress which damages the body. Yeah, huge amount of risk being a worker.
See, that’s actually a load of bollocks. Every employee at a business is taking a huge risk which is why every business should be a cooperative.
Nope, business as it stands is a wealth siphon that rewards only the rich rather than supporting the whole society as it should.
Draco – where are the peoples co-operatives? If your diatribe on workers being more valuable why are they not organising themselves into co-operatives to make a living for themselves…. Why are the Unions not leading that charge?
Go on get out there and storm the barricades instead of ranting on a blog site. Do something practical ,form a co-operative and start trading for a living, don’t rely on those fat cat business owners….. I look forward to you posting here on the Standard a report on your success…….
as for being a RWNJ – nah not me chap I am no fan of the far right and multi national corporations. I just don’t think central control of everything is the way to go…
Why don’t you ask John Key? He has, after all, been a career bureaucrat*. He also participated in the destruction of billions, if not trillions, of dollars of paper wealth and the selling out of a country.
BTW, did you notice how Cunliffe shared a story about how they found far more value talking to the workers than talking to the business managers?
* bureaucrat
Which is not such a bad thing DtB. After all what is the alternative to doing things by the rules?
Occasionally the odd flash of genius will slip through, but mostly it just descends into favours, nepotism, graft and outright corruption.
And he did a pretty compelling job at the Committee for Auckland yesterday as well.
Feel the fluidity of it, and compare it to the lumpy and poorly-stitched passages in the welfare one he did at Kelson a month ago. Feels like either there’s a new speechwriter in the office who has his cadence down, or Cunliffe is taking a clearer role controlling the pen himself.
Signs are good. Now all he has to do is throw the notes away – he doesn’t ned to deliver every line. Journos always know there’s differences to delivered text – and the really quotable stuff comes in the Q and A afterwards.
A couple more of these and maybe the donors will come back after last weeks’ fuckups.
Anyone know what the audience’s reaction was?
I understand the NZ Institute to be a right wing think tank
I trust some were turning varying shades of green, yellow and red (perhaps even purple needs to be mentioned for some holding the most extreme right-wing views : ) ).
I would like to think that many [o.k even some will do] saw the sense in what Cunliffe was saying.
What was the audience reaction, anyone know?
The NZ Institute was an evidence based relatively neutral organisation not captured by the neoliberal disease. The NZ Initiative is a reverse take over from the Business Round Table, and has amply demonstrated a return to it’s Roger Kerr roots. Shame on them.
Thanks DV,
I was not immediately aware* that there were two organisations with such similar names, nor that they had been conflated in this post, and thus, had carried it on (NZ Institute vs NZ Initiative). Guilty [again] of not reading carefully enough.
*Your comment jogged my memory.
Thank you for clarifying the matter – it is an important distinction.
Would have been interesting to see David explain how a government saddled with the Greens is going to drive the New Zealand economy forward. Which will create employment and growth without blowing out in costs , red tape and compliance!
Responding to the Greens issues is not really Mr Cunliffe’s main job as leader of the Labour party.
However the query you have is pretty simply answered.
If you are setting up a business that stands to create problems in the environment all that is required of you to ‘save money on compliance’ is come up with a well thought out plan that minimises these environmental problems.
If one doesn’t want to think of such considerations and push through an unsustainable idea – this costs a lot – that is when RMA is followed in the spirit it was meant to be.
If businesses are allowed to create unsustainable businesses (i.e. ‘red tape’ and ‘compliance’ is in existence) this causes a great deal of costs to others (if not the owner as well) in the future.
This is how having rules that safe guard our environment saves money and moves the economy forward whereas weakening such safeguards moves us backwards.
e.g. If our water supply become undrinkable – this costs everyone ill health and someone (most likely taxpayers) the expense of new fangled water filters. In this way, living with disregard to the environment is a way to damage the economy – not move it forward.
+1111
Heck – I just realised there is a major error in this comment of mine (thanks for reading past it DTB)
Correction: “If businesses are allowed to create unsustainable businesses (i.e. ‘red tape’ and ‘compliance’ are undermined/removed) this causes a great deal of costs to others (if not the owner as well) in the future.
Cunliffe talks about sustainability several times in the speech.
what would be interesting is seeing people actually bothering to read what green policies are – not what their opponents claim them to be
+1
I always get a laugh when some RW douchebag names himself after a fascist dictator and spells the name wrong. A tomar por el culo, fascista!
“Labour supports positive business, but trickle-down economics and its neoliberal parentage have failed New Zealanders and left many of our emerging businesses starved of investment capital and skills.”
Now there is a basic truth that Politicians have avoided saying. And brave to do so at the New Zealand Initiative forum.
There were some who have been critical that Labour had failed to engage with the Business. But David’s excellent speech is the opening round.
+1
less of the thinkimg tank.
ask yourselves two questions:
why did they change their name/s
why do we almost nothing from them when national is in power and cant shut them up when labour is in power
True Tracey but what better place to approach the enemy but in their own bunkers.
Thanks Tracey, It is a bit hard to understand your comment – yet I believe you are responding to my reference to the ‘NZ Institute’ as being a think tank – I see I was in error – it would be more a big business self interested anti worker group of cronies, wouldn’t it?
Correction: That should be NZ Initiative – not NZ Institute
And come to think of it David has worked with Business and helped with innovation. John Key on the other hand has no experience other than buying and selling money. David’s approach to business innovation by involving the workers is transformational and suggest much more support for Research and Development. (Shades of Charles Handy’s approach including flatter management styles?)
iJohn Key on the other hand has no experience other than buying and selling money
or another way, experience in buying and selling other people’s money clipping the ticket, each time it goes round and making money from others who are trying to protect their money from people like him who are buying and selling and clipping the ticket each time, and setting arguable values on all of that, may change tomorrow, or tonight, or in the next hour, or now.
They are busy little wasps raiding other people’s honey pots, and doing very little original gathering. That’s how John Key made his money, and the banks and finance houses who have taken ownership of the financial system and run governments and a fiefdom over the worlds’s people. And we expected him to care about we NZs? What an innocent or ignorant lot.
+111
it should make the nzi look stupid if they criticise cunliffes vision, but its how its reported that matters.
most dont know this is the rebranded round table, which is why they merged and dropped the rt tag.
I thought this speech of Cunliffe’s was to the NZ Initiative?
this: What is The New Zealand Initiative…
The New Zealand Initiative is a business group with a difference. We are a think tank that is a membership organisation; we are an association of business leaders that is also a research institute. And we believe that these are not contradictions.
Is it the same as the NZ Institute just wearing a different hat? Or what?
At the beginning of the speech Cunliffe addresses it to the New Zealand Initiative and says it was formed from the NZ Institute and Business Roundtable – so an error in the title and front page of the post.
srylands, chris, bm, and others have been conspicuously quiet these past couple of days. have farrar and slater been slow to spin the collins and williamson and guy stuff?
Meh same old Labour (National light)……… still that’s why I vote green I suppose.
David Cunliffe’s speech strikes the right tone.
Labour and leader Cunliffe and the NZ Insitute and their champion Oliver H.
A bit like Ukraine and Russia squaring off.
They need to find how to see ways to work together for good outcomes.
A Cold War, or a hot one, a conflict or a standoff, isn’t to anyone’s advantage.
Video on stuff of clips from the speech and subsequent press qu & a.
Karol
Yeh, I saw that earlier on. There’s some nice shots of Jones looking uncomfortable at not being able to blurt out his random brainfarts. Little footage of the actual speech, but long unexplained minutes of some unidentified hands counting out a stack of $100 notes.
It comes across like the speech recording was done over the top of the NZI’s version of a porn tape (giving a new meaning to the term; “money-shot”).
Yes, the $100 bill inserts were strange.
Strange, unless you think that someone was trying to make it look simultaneously boring and a bit dodgy. Then it would make perfect sense.
I just wish they would put these up on You Tube of their own site as a lot is lost in the reading the speech, when listening/watching then you get all the nuances.
Posted in the interests of informed debate:
If Labour are genuine about rolling back neo-liberal Rogernomics (which the 1984 -87 Labour Government started), how about ‘opening the books’ and ‘cutting out the contractors’ – at both central and local government level?
Where does David Cunliffe (Labour) NOW stand on Public Private Partnerships (PPPs)?
I for one am not interested in any ‘weasel words’ that PPPs aren’t actually privatisation, because public assets aren’t sold.
At central government level -the Rogernomics blitzkreig was commercialise, corporatise – PRIVATISE.
First SOES (State-Owned Enterprises) – then PRIVATISATION.
At local government level it was LATES ( Local Authority Trading Enterprises) then – the alphabet name change to Council Controlled Organisations (CCOs).
Now of course – with the ‘economies of scale’ provided by the forced Auckland Supercity amalgamation – there is a greater possibility for CCOs – then PPPs.
Just read the Ernst and Young Report that the Auckland Mayor Len Brown commissioned on PPPs (- yes – the same Ernst and Young who provided the ‘whitewash coverup review’ that helped to protect him from possible criminal prosecution – in my considered opinion).
http://media.nzherald.co.nz/webcontent/document/pdf/201348/PPPStudyForAttachmen1.pdf
“The Mayor has asked for a position paper to be developed on the nature and uses of Public Private Partnerships (PPPs). This paper is to focus on the range of PPP options that may be suitable for major Council and CCO projects.”
I don’t see anything David Cunliffe is saying to the former Business Roundtable (Now NZ Initiative) and (apparently ) the Committee for Auckland (who really run the Auckland region) – that would frighten these big business robber barons – because – in my considered opinion, he’s not putting forward policies that would really help to ROLL BACK ROGERNOMIC$.
ie: Opening the books and cutting out the consultants and private contractors.
For some suggestions for how to bring about some GENUINE ‘transparency’ in New Zealand – help yourself …..
http://www.pennybright4mayor.org.nz/wp-content/uploads/2013/08/ANTI-CORRUPTION-WHITE-COLLAR-CRIME-CORPORATE-WELFARE-ACTION-PLAN-Ak-Mayoral-campaign-19-July-2013-2.pdf
Kind regards,
Penny Bright
‘Anti-corruption / anti-privatisation Public Watchdog’
Penny not so bright.
Being a martyr to the cause is really dumb
Time to get your house in order so you can continue the good fight.
Not knowing when to retreat and fight another day has lost many wars.
Time to retreat lick your wounds and have a good base to fight from
.
‘It is not rash to take a calculated risk’ (General Paton).
‘Faint heart never won fair go’ (me).
Thank you for your concern – but I know exactly what I’m doing – defending my lawful right to ‘open, transparent and democratically-accountable’ local government.
In the 2013 Auckland Mayoral election – I campaigned on ‘open the books’ and ‘cut out the contractors’ and polled fourth with nearly 12,000 votes.
It would be an interesting development if others who support my stand were to email Mayor Len Brown, and state that they were considering joining my ‘rates revolt’ for genuine transparency in Auckland Council and CCO spending?
As long as the Auckland Council and CCO ‘books’ are not open, and we’re not being told exactly where public rates monies are being paid:
ie: the NAMES of the consultants / contractors
the SCOPE of the contracts
the TERM of the contracts
and the VALUE of the contracts
I WILL NOT PAY AUCKLAND COUNCIL RATES.
End of story.
Please be reminded of the Public Records Act 2005:
http://www.legislation.govt.nz/act/public/2005/0040/latest/DLM345729.html
17 Requirement to create and maintain records
(1) Every public office and local authority must create and maintain full and accurate records of its affairs, in accordance with normal, prudent business practice, including the records of any matter that is contracted out to an independent contractor.
So – when Auckland Council does not comply with the RULE OF LAW – what happens to them?
Oh yes – they try to neck-stamp concerned citizens / whistle-blowers who have the guts to stand up to them.
If you think I’m going to put up with that sh*t – think again.
Kind regards,
Penny Bright
http://www.pennybright4mayor.org.nz
Is there somewhere we can donate to help you keep your house, your madjesty?
If we donate, do you promise to not accuse us of corruption for funding Auckland City Council?
I’ve got $5* that says the ‘paper bales wrapper’ comment will become a focal point of the Government’s attempts at criticism of what is a strong and clear statement. That statement being there is more than enough proof, after thirty years, that this dangerously expensive experimental machine has failed and the future can not continue the mantras of a free market ideology driven by profit and fuelled with unaccountability.
*I really don’t have $5 so if you don’t mind, no bets will be taken 🙂
The problem with Cunliffe’s speech is that the policy doesn’t match what he is trying to achieve
“Capital gains tax to move from speculation to innovation,
Universal KiwiSaver to grow our onshore investment capital,
Monetary policy reform to back our exporters,
R&D tax credits to encourage innovation,
A series of industry and regional strategies that grow New Zealand’s wealth.”
A 10% non-universal CGT is not going to see people abandon housing for other investments. Overseas has shown us this. Overseas has also shown us that house prices rise over time when a CGT is introduced. Surely not what Cunliffe is trying to achieve?
Given the number of people in Kiwisaver already, universal Kiwisaver is not going to suddenly bring a huge pool of funds. Also, Kiwisaver investers need to be diversified in their investments to ensure certainty in returns. How is Cunliffe proposing to maintain diversification whilst investing more heavily in New Zealand?
Sounds good, exactly what is the policy here? There is no such thing as a free lunch. If you tailor your monetary policy further towards exporters someone else will suffer elsewhere in the economy.
Last time out this was a hugely complicated regime that achieved little additional R&D expenditure. Made for some additional accounting fees though so I guess one sector benefitted!
Again what’s the detail here? Taranaki has enjoyed regional growth on the back of oil & gas exploration. Is Cunliffe backing this? Regional growth in NZ has been good and has been widespread in the last year or so. Not sure exactly what this policy entails.
Exactly.
These are virtually the same policies Shearer and Goff were offering. Their past approach which failed miserably.
whereas nationals detail is
” we wont sell more assets” followed by defining silence, no plan b.
Actually it was followed by “we will sell a lot of state houses.”
Ah yes but that was a qualifier to plan a not a plan b.
plan b: check thesaurus under “asset”
Hope you’re not implying National’s failures get Cunliffe and Labour off the hook for this poor policy mix?
I read this speech several times looking for something to be hopeful about in it.
I am really sorry that this meaningless blather is the best Mr Cunliffe can do.
I have heard variations of the same speech made by a number of politicians, right wing think tank spokespeople and various other odds and sods over the last thirty years.
It offers nothing to those who need relief from the drudgery and pain of poverty right now but is rich in promises on how he will make capitalism work better for those who already have plenty.
Even if his simplistic bollocks about deeper capital markets, innovation etc were to work some time after we are all dead there can be only one set of winners in following that course and it is not the workers who create the wealth or those excluded from participating in the economy in any meaningful way at present.
Hopeless!
Cunliffe is short on detail, but he is correct about the problem. And the solution.
“there can be only one set of winners in following that course”
People in work or people looking for work.
Bollocks. Their employers will also benefit. Mind you, they always benefit from the better educated healthier workforce the Left delivers.
Their employers are in work.
Are you saying people are less educated and less healthy since Rogernomics? Do you now agree, with Cunliffe and myself, that deeper capital markets are needed, more savings, more investment?
English Comprehension 101 for special winguts, lesson two.
“I agreed with him a long time before I’d heard of him”, means exactly what it says.
Perhaps some sort of IQ therapy is required.
That’s nice.
Meanwhile, looks like Cunliffe and I are on roughly the same page, although I await further detail. You appear to be waiting for someone else to tell you which page you are on, lest you inadvertently agree with me, a black hole opens up, and you get sucked into the swirling orifice.
Cunliffe is sounding very National Lite in that speech….
Deeper capital markets, more investment, more savings.
They won’t make the slightest bit of difference to most of us.
And moving the precariat a bit one side or other of the employment/unemployment line by getting them into crap jobs and making bosses even richer is not the answer, even if this could actually be achieved some time in the far distant future by following the Cunliffe recipe.
I know!, I know!
The Cunliffes of this world believe in quality jobs based on innovation, investment in research, regional development strategies, blah blah blah and a lot more old bollocks.
Various snake oil salespeople have offered up this blander, gentler form of business as usual in the last few decades, both here and in other countries. Jim Anderton used to talk like this for example as did the third wayers in the UK.
It is just empty rhetoric to justify trying to make capitalism work instead of confronting the difficult task of trying to build an economy that serves us rather than rules us.
And your alternative is what, exactly?
And the winner on the day – liberalism. So we tinker whilst America burns – joy.
WTF! What is Cunliffe doing even addressing the NZ Initiative (formerly Business Round Table). It is giving then a legitimacy they do not deserve. Considering the unholy relationship with these people in 1984 talking to them now seems pointless and almost a betrayal of those that fought against the Labour direction in the 1984-1990 period.
Look at the people involved. It proudly proclaims its close relationship with Australia’s CIS which Ruth Richardson was connected with if my memory serves me correctly.
Their motto might well be “When the people find our what we are up to we will change our name and continue ripping them off for a few more years”
Stay away DC it will only leave people with the impression that you are more interested in the fascist right than you have publicly said.
I think The Cunliffe may understand more about economics than he lets on to his far-left activist sub-group.
Good to see.
Fossil fuel depletion in 30 years’ massive climate instability in 50. That’s all you need to know about the economy, dickhead.
http://peakoilbarrel.com/will-peak-oil-actually-arrive/
We’re not running out of fossil fuels. The climate is no more unstable than it has been in the past.
http://www.theguardian.com/commentisfree/2012/jul/02/peak-oil-we-we-wrong
http://www.telegraph.co.uk/topics/weather/10639819/UK-weather-its-not-as-weird-as-our-warmists-claim.html
You’ve chosen to believe lies. That’s all you need to know, but do keep your fingers firmly wedged in your ears.
“We’re not running out of fossil fuels. The climate is no more unstable than it has been in the past.”
lol – I don’t normally read your drivel justlikewood but thanks for the laugh – you really are thick. OAB – why you bother with this cretin I’ll never know but your analysis of his many, many failings as a ‘thinker’ are so true and provide some light relief, so thanks for that.
‘
David Cunliffe To Kiwi Translation Service
1984 – here we come. Again.
Well said BLiP
But is it well said?
Or have some of these statements been taken out of context? [Genuine question]
e.g.
If Cunliffe’s comments re a government push to stop speculation is combined with the above quote of Cunliffe’s – surely this move becomes one to increase the pool of investment for productive enterprises (jobs) and move away from ‘gambling’ ?
Again, what are Labour’s other stances that would make this move a different nature than those set up by a right-wing government. This might be that of encouraging small – medium sized businesses (as mentioned in the speech) rather than big/corporate ones.
Blip’s third quote of Cunliffe does hold cause for concern – I don’t really understand what Cunliffe is driving at here and it does sound somewhat dodgy – particularly: “That means simplifying the governance structures “.
From David Cunliffe, that is a great speech, very well rounded and most sensible.
But, just one BUT for the moment, while reading all that, what I could think of is: the Labour caucus, with David T.I.N.A. Parker’s direction and blessing, will be pushing out the age for retirement?? So what are the alternatives, David Cunliffe? Please explain and justify, Davids. (And please try not to lose out on the debate against National.)
From BLiP, that is very interesting. I have a lot of respect for your comments and compilations, and thank you for these.
http://www.stuff.co.nz/business/money/9710275/KiwiSaver-not-helping-NZ-report
David Cunliffe is saying publicly the neo-liberal experiment of the last three decades have failed. This , to me, is the most significant statement – and all else will now flow from that. What’s more, he has his finance spokesperson on side with that too.
” Labour supports positive business, but trickle-down economics and its neoliberal parentage have failed New Zealanders and left many of our emerging businesses starved of investment capital and skills. The opportunity gaps have widened and there is no clear, shared strategy to a high value, high income future. That’s something Labour will change. We want an economy that works for all New Zealanders.”
It’s not savings that are the problem. In fact, we could do without savings just as we can do without foreign investment. The problem is that the private banks create and control our money and they create it primarily into the housing sector. Take that control away from the private banks and have the government create the money and spend it where it needs to be spent and we’ll get the innovation and prosperity that we need.
That’s because the capitalists are looking for short term sure things. They really don’t support the decades long research and development that brings true innovation to an economy. That takes a government that’s determined to actually do right for the country which, since the 1980s, has precluded both Labour and National as the chased the delusional free-market utopia. Mariana Mazzucato describes that quite clearly in The Entrepreneurial State. It’s not the free-market nor private enterprise that ultimately developed the PC that you’re reading this on.
Nope, it’s always a bad thing as it turns NZers into serfs of the foreign owners. There’s a reason why we got rid of feudalism and those reasons still stand and so our governments, our political parties, should not be trying to bring it back.
That wouldn’t be privilege, that would be indoctrination.
And failed to see that most of that R&D was supported by the US government through departments such as DARPA, ERPA, NASA and scores more. The US actually has a research and development structure that works and it’s entirely centred on government support and direction. The only real problem with the US system is that the private sector ends up with all the profits while the government and the country that supported all that development gets nothing. This is exaggerated by the tax havens and other tax dodges that the private companies use to prevent paying tax.
Waste of time and money.
Silicon Valley became possible because the US government put in, in today’s dollars, billions of dollars per year of support and infrastructure which included the initial fabrication plants.
And, after all that, there’s still no such thing as sustainable growth. There is such a thing as sustainable development.
DC’s speech and, particularly, his statement “We want better jobs and higher wages for all New Zealanders” brings to mind this and let’s hope he lives up to making that happen:
“Remember the days when families could live off one income?
“The graph shows a market failure which has made this near impossible for most families. We’re working harder and longer than ever before, but wages have remained flat. The failure of wages to keep up has meant many families are living in poverty. It hurts me to think that 270,000 kids live in poverty in this country. Part of the solution is a Living Wage for all Kiwi workers, and fairer workplace laws.
“I’ll lead a government that is prepared to tackle this injustice head on.”
http://thestandard.org.nz/mind-gap-way-forward/
Is he bringing back Unions to help restore wage disparity?
Is he going to increase benefits to help address inequality and help drive up the minimum wage?
Is he bringing in a price freeze to prevent the fiscal benefits of minimum wage increases being lost to inflation?
Despite the great sounding rhetoric, just what do they plan to do to achieve this aim?
Cost of living is just as important in my opinion.
Cost of housing, food, electricity are at criminal levels considering our natural resources available and those extortionate costs are mostly due to a lack of regulation.
Time for Labour to set out clearly how they would pick winners as opposed to how National is doing it.
So I want to return to the content of this. Check out this passage:
These require serious policy changes, not tinkering. That’s why we will have:
Capital gains tax to move from speculation to innovation,
Universal KiwiSaver to grow our onshore investment capital,
Monetary policy reform to back our exporters,
R&D tax credits to encourage innovation,
A series of industry and regional strategies that grow New Zealand’s wealth
He also mentions a “shift in gear” and a programme “upgrade”.
Now compare to The Dolphin and the Dole Queue speech from two years ago.
Both speeches are saying – to quite different audiences – that he not only analyses deep into the Structural Adjustment of the 1980s and 1990s and into the GFC. Not only that. He also wants to re-establish the radical edges of the whole polity.
In the New Zealand Institute audience he knows he is with players who depend on radical shifts in economic policy to get radical shifts in wealth (their way of course). Our economic history of 30 years tells us that’s how it’s done. He has an audience who know that their wealth aspirations are tied to policy. They are not by and large farmers and rentier-classes.
He is laying out the bold moves Labour has on offer. Nothing new. Except that such a set of shifts looks inevitably like it has a political energy that Key’s government utterly lacks.
The same bold moves are also seeking a parallel place at the edges of left radicalism. No other party leader has laid out such a deep understanding of the need to find common ground with the young and hungry of both the hard left and hard right.
This is not the same as Third Way-ism. This is forming consensus strong and hard enough that people who are hungry for economic and fiscal policy change, both left and right, will back a broad and major policy shift. He wants to make them hungry for the ideas that National will themselves not to have.
This is the heart of a radical, providing a deep reading of his audiences, preparing to unite both hard edges of New Zealand. He is preparing to shift the heart of capital itself.
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