web analytics

Don Brash, Rogernomics, and Huljich

Written By: - Date published: 8:24 am, March 16th, 2010 - 20 comments
Categories: corruption, kiwisaver - Tags: ,

The New Zealand economic reforms of the 1980s and 1990s were largely a failure.  This can be seen from the large negative divergence post 1984 in New Zealand’s real output per capita in comparison to Australia, our usual benchmark. New Zealand’s comparative position vis-à-vis unemployment also worsened. Poverty and social inequality increased.

Australia undertook various reforms, however, these were moderate and measured in comparison to the evisceration that took place in New Zealand. The author of many of the New Zealand reforms was Roger Douglas, now a prominent ACT party MP.

Recently Don Brash’s taskforce spent $400,000 of taxpayers’ money recommending that New Zealand’s path to economic salvation lay in embracing the failed policies of Rogernomics. This is the same Don Brash who expressed to the ACT party’s annual conference the view that many voters are “venal and ignorant“.

Huljich is the country’s largest KiwiSaver provider. Don Brash is the chairman of the Huljich KiwiSaver Scheme.  Brash claims that the scheme has a “commitment to socially responsible investment”, it offers “open and honest communication”, and that it has a “track record that speaks for itself”.

In 2009 Huljich was investigated for the illegal door to door marketing of its schemes.  We now have the revelation that Huljich returns were manipulated. Gareth Morgan goes so far as to say that Peter Huljich, the Managing Director/Chief Investment Officer  told “lies”, is “not fit to make financial offers to the public” and that the Huljich schemes should be wound up.

Don Brash is reported as saying that the non reporting is “regrettable” after previously failing to recall aspects of the transaction. It is noted that Brash’s high standing and standards are used to promote Huljich:

As well as his financial and economic wisdom, Don brings a reputation for financial probity, prudence and commitment to Huljich Wealth Management.

Given Brash’s failure to resign from Huljich, his muted public response to the serious allegations made against Huljich, and his intemperate outbursts against his fellow citizens, why does anyone still listen to him?

Soapbox NZ

20 comments on “Don Brash, Rogernomics, and Huljich ”

  1. Cnr Joe 1

    I hear he has a killer smile and his wave is to die for

  2. john 2

    Don believes he has a divine right to pontificate on how Kiwis should order their affairs. Tragically apathetic Kiwis suck on it and for that reason they must take most of the blame for the divided society we have become. People like Don know how to appeal to sectional greed and like the Mafia Don he’s quite willing to flog off the Public treasury and share the hard worked for gains with you abdicating Government responsibility for overall wellbeing other than being a funnel for money flow. Him and Roger are a disaster.

  3. ghostwhowalksnz 3

    Huljich the largest provider ?

  4. Bored 4

    JUDGE (not Bruce). “Don Brash, you have been found guilty by way of association with scurillous ideas and people. You have loaned your name to self serving schemes at the expense of the whole community. You will be taken from this court to…..
    BRASH.” “Its a fair cop m’lud”.

  5. “Given Brash’s failure to resign from Huljich, his muted public response to the serious allegations made against Huljich, and his intemperate outbursts against his fellow citizens, why does anyone still listen to him?”

    I didn’t think anyone did still listen to him.

    Even National basically laughed off his taskforce’s report.

  6. randal 6

    looks very much like he is awalking accident wherever he goes.

  7. Peter 7

    I am dissapointed that the media is not skewering Banks over his part in this, considering he is one of the contenders for the Mayorl race here in Auckland.

    Ethics, accountability and ability…would be useful quantities in such a position …

  8. Nick C 8

    Which of Roger Douglas’ policies do you object to spesifically?

    Abolition of agricultural subsidies
    Abolition of import licencing and other protectionist measures
    Deregulation of currency exchange
    Removal of 66% top tax rate
    Changing government departments into SOEs

    If so, which of those would you bring back?

    • Bored 8.1

      Some answers Nick

      Abolition of agricultural subsidies: Fine idea if we could only persuade those paragons of the free market, the Yanks to do so, or perhaps the Europeans. They make us uncompetitve, if they did not subsidise so heavily we would be wealthier.

      Abolition of import licencing and other protectionist measures. If you compete against economies of scale on an open market you lose. Sometimes what you do locally deserves protection because the total cost to the economy and community could be a lot higher. Good example is the cost of unemployment where “globalised” production and labour undercut us but leave us with sunk capital and ongoing social costs. As a policy its again a good principle but needs rigorous real costing and should not be applied in the revolutionary way Roger did it. rich economies have all begun as protectionist, look at the Asian tigers.

      Deregulation of currency exchange. With this you lose sovereignty, and control of your destiny to financial centres. Its a dumb policy the world has followed and the result was last years crash, which has not yet fully played out. Think Great Depression before you go here, its full of dragons.

      Removal of 66% top tax rate. May be a bit high but Douglas’ tax policies basically move the tax to the poor and low income earners, they represent a massive flow up to those who have from those who dont. Its unfair and economically ruinous, unsustainable and quite frankly socially criminal.

      Changing government departments into SOEs. A stupid idea when applied to pure public services destroying the ethos of “service ” and replacing the public with customers / clients…subtle but destructive of democratic institutions. With utilities for power, phones etc, (all necessities we municipalized or government built as part of the integrated economy) we have only pushed up price and wrecked infrastructure through lack of investment / privatisation.

      Need I go on, Roger is a bit like Karl Marx, fine in theory, not much cop in practice.

      • Nick C 8.1.1

        Lets assume that its true that evil foriegners with their heavily subsidised, economies of scale driven businesses make our farmers uncompetitive, make us lose all our jobs and sell us all their goods. When we buy their goods with our NZ dollars, what do you think they do with those dollars?

        If you’re bored perhaps you should read this: http://en.wikipedia.org/wiki/Comparitive_advantage

        • Bored 8.1.1.1

          I have now read it, very dull, positively “economisty”, its a sort of tedious ennui that turns you into a wrinkled Saharan date…very dry. Its neo classical economics that got me bored in the first instance.

          Perhaps its more pertinent to read Schummaker, “Small is beautiful”, makes much more sense.

          • Nick C 8.1.1.1.1

            The point is that everyone benefits from free trade, not just the countries with economies of scale

            We can simply view agricultural subsidies as another form of absolute advantage; i.e. we view the subsidy as a legitimate means to produce something at a lower cost even thought the lower cost only comes about because of free government money. From this perspective we apply the theory of comparitive advantage and see that New Zealand benefits from trading with countries with subsidised agriculture.

            In fact we win even more than if they weren’t subsidising their food. The subsidy is effectivly foriegn tax payers paying for us to eat food cheaper.

            • Bored 8.1.1.1.1.1

              Try adopting the term and practice fair trade. In the real untheoritical world free trade comes with real baggage. Its can be another term for imperialism.

  9. Zak Creedo 9

    why does anyone still listen to him? you ask mister guest blogger.

    Lemme try answer:

    1. Because where there’s brash there’s money.. or should that be..
    2. Because where there’s trash there’s money… or.. waitta mo I think I’ve gottit..
    3. Where there’s muck there’s money.

    Whatever, my multi-answer frames this thing pretty well… hah

  10. Raoul 10

    Do all of you really suck up to Garth Morgan that much…the guy has no idea, he spouts absolute dribble as fact and jumps on any bandwagon to give himself more mileage as the Champion of the underdog. He is no different to the wizard of Christchurch. Oh…there is one difference he has a huge KiwiSaver Scheme and he is using you and the regulators to damage his biggest competitor, Brash and Huljich. You are being used wake up!

    • Pascal's bookie 10.1

      So whaddya reckon about Huljich’s management there Raoul?

      How about Brash’s oversight?

      Got any substantive issues with Morgan’s criticism, or are you just going to play the ad hom card?

      If the latter, do you have anything to declare that might be relevant to explaining your frankly weird defence of Huljich?

Links to post

Recent Comments

Recent Posts

  • Prime Ministers’ meeting reaffirms close trans-Tasman relationship
    Prime Minister Chris Hipkins and Australian Prime Minister Anthony Albanese today held their first bilateral meeting in Canberra. It was Chris Hipkins’ first overseas visit since he took office, reflecting the close relationship between New Zealand and Australia. “New Zealand has no closer partner than Australia. I was pleased to ...
    BeehiveBy beehive.govt.nz
    2 hours ago
  • Immediate humanitarian support to Türkiye and Syria following earthquakes
    New Zealand will immediately provide humanitarian support to those affected by the earthquakes in Türkiye and Syria, Foreign Minister Nanaia Mahuta announced today. “Aotearoa New Zealand is deeply saddened by the loss of life and devastation caused by these earthquakes. Our thoughts are with the families and loved ones affected,” ...
    BeehiveBy beehive.govt.nz
    6 hours ago
  • Pākinga Pā site to be gifted back to local hapū
    An historic Northland pā site with links to Ngāpuhi chief Hongi Hika is to be handed back to iwi, after collaboration by government, private landowners and local hapū. “It is fitting that the ceremony for the return of the Pākinga Pā site is during Waitangi weekend,” said Regional Development Minister ...
    BeehiveBy beehive.govt.nz
    8 hours ago
  • New initiatives to unlock Māori science and research resources
    The Government is investing in a suite of initiatives to unlock Māori and Pacific resources, talent and knowledge across the science and research sector, Research, Science and Innovation Minister Dr Ayesha Verrall announced today. Two new funds – He tipu ka hua and He aka ka toro – set to ...
    BeehiveBy beehive.govt.nz
    10 hours ago
  • Advancing our relationship in India
    Foreign Minister Nanaia Mahuta departs for India tomorrow as she continues to reconnect Aotearoa New Zealand to the world.  The visit will begin in New Delhi where the Foreign Minister will meet with the Vice President Hon Jagdeep Dhankar and her Indian Government counterparts, External Affairs Minister S. Jaishankar and ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Government Northland housing investment to spark transformational change
    Over $10 million infrastructure funding to unlock housing in Whangārei The purchase of a 3.279 hectare site in Kerikeri to enable 56 new homes Northland becomes eligible for $100 million scheme for affordable rentals Multiple Northland communities will benefit from multiple Government housing investments, delivering thousands of new homes for ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Government investment safeguards Waitangi Treaty Grounds
    The Government is supporting one of Aotearoa New Zealand’s most significant historic sites, the Waitangi Treaty Grounds, as it continues to recover from the impacts of COVID-19. “The Waitangi Treaty Grounds are a taonga that we should protect and look after. This additional support will mean people can continue to ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Battle of Ohaeawai remembered
    A memorial event at a key battle site in the New Zealand land wars is an important event to mark the progress in relations between Māori and the Crown as we head towards Waitangi Day, Minister for Te Arawhiti Kelvin Davis said. The Battle of Ohaeawai in June 1845 saw ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • More Police deployed to the frontline
    More Police officers are being deployed to the frontline with the graduation of 54 new constables from the Royal New Zealand Police College today. The graduation ceremony for Recruit Wing 362 at Te Rauparaha Arena in Porirua was the first official event for Stuart Nash since his reappointment as Police ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Further support for upper North Island regions hit by significant weather
    The Government is unlocking an additional $700,000 in support for regions that have been badly hit by the recent flooding and storm damage in the upper North Island. “We’re supporting the response and recovery of Auckland, Waikato, Coromandel, Northland, and Bay of Plenty regions, through activating Enhanced Taskforce Green to ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • The Princess Royal to visit New Zealand
    Prime Minister Chris Hipkins has welcomed the announcement that Her Royal Highness The Princess Royal, Princess Anne, will visit New Zealand this month. “Princess Anne is travelling to Aotearoa at the request of the NZ Army’s Royal New Zealand Corps of Signals, of which she is Colonel in Chief, to ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Government and horticulture sector target $12b in exports by 2035
    A new Government and industry strategy launched today has its sights on growing the value of New Zealand’s horticultural production to $12 billion by 2035, Agriculture Minister Damien O’Connor said. “Our food and fibre exports are vital to New Zealand’s economic security. We’re focussed on long-term strategies that build on ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Cost of living support extended for families and businesses
    25 cents per litre petrol excise duty cut extended to 30 June 2023 – reducing an average 60 litre tank of petrol by $17.25 Road User Charge discount will be re-introduced and continue through until 30 June Half price public transport fares extended to the end of June 2023 saving ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • More Kiwis in work as rising wages match inflation
    The strong economy has attracted more people into the workforce, with a record number of New Zealanders in paid work and wages rising to help with cost of living pressures. “The Government’s economic plan is delivering on more better-paid jobs, growing wages and creating more opportunities for more New Zealanders,” ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Government boosts fund for Auckland flooding
    The Government is providing a further $1 million to the Mayoral Relief Fund to help communities in Auckland following flooding, Minister for Emergency Management Kieran McAnulty announced today. “Cabinet today agreed that, given the severity of the event, a further $1 million contribution be made. Cabinet wishes to be proactive ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • New Cabinet focused on bread and butter issues
    The new Cabinet will be focused on core bread and butter issues like the cost of living, education, health, housing and keeping communities and businesses safe, Prime Minister Chris Hipkins has announced. “We need a greater focus on what’s in front of New Zealanders right now. The new Cabinet line ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Prime Minister to meet with PM Albanese
    Prime Minister Chris Hipkins will travel to Canberra next week for an in person meeting with Australian Prime Minister, Anthony Albanese. “The trans-Tasman relationship is New Zealand’s closest and most important, and it was crucial to me that my first overseas trip as Prime Minister was to Australia,” Chris Hipkins ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Government makes first payment to Auckland Flooding fund
    The Government is providing establishment funding of $100,000 to the Mayoral Relief Fund to help communities in Auckland following flooding, Minister for Emergency Management Kieran McAnulty announced. “We moved quickly to make available this funding to support Aucklanders while the full extent of the damage is being assessed,” Kieran McAnulty ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Government steps up to assist Auckland during flooding
    As the Mayor of Auckland has announced a state of emergency, the Government, through NEMA, is able to step up support for those affected by flooding in Auckland. “I’d urge people to follow the advice of authorities and check Auckland Emergency Management for the latest information. As always, the Government ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Poroporoaki: Titewhai Te Huia Hinewhare Harawira
    Ka papā te whatitiri, Hikohiko ana te uira, wāhi rua mai ana rā runga mai o Huruiki maunga Kua hinga te māreikura o te Nota, a Titewhai Harawira Nā reira, e te kahurangi, takoto, e moe Ka mōwai koa a Whakapara, kua uhia te Tai Tokerau e te kapua pōuri ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Enhanced Task Force Green Approved following Cyclone Hale
    Carmel Sepuloni, Minister for Social Development and Employment, has activated Enhanced Taskforce Green (ETFG) in response to flooding and damaged caused by Cyclone Hale in the Tairāwhiti region. Up to $500,000 will be made available to employ job seekers to support the clean-up. We are still investigating whether other parts ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • General Election to be held on 14 October 2023
    The 2023 General Election will be held on Saturday 14 October 2023, Prime Minister Jacinda Ardern announced today. “Announcing the election date early in the year provides New Zealanders with certainty and has become the practice of this Government and the previous one, and I believe is best practice,” Jacinda ...
    BeehiveBy beehive.govt.nz
    3 weeks ago
  • Prime Minister Jacinda Ardern announces resignation
    Jacinda Ardern has announced she will step down as Prime Minister and Leader of the Labour Party. Her resignation will take effect on the appointment of a new Prime Minister. A caucus vote to elect a new Party Leader will occur in 3 days’ time on Sunday the 22nd of ...
    BeehiveBy beehive.govt.nz
    3 weeks ago