web analytics

Double Dipton’s double downgrade doubletalk

Written By: - Date published: 4:54 pm, October 22nd, 2011 - 42 comments
Categories: debt / deficit - Tags:

Bill English: “a change in the credit ratings could push interest rates up … about 0.1 percent.”
Nek minnit: Since the double downgrade, interest rates on new government bonds have risen by 0.2 per cent for bonds maturing in 2015 and 0.4 per cent for bonds maturing in 2023 … this will cost $100 to $150 million extra per year.

Debt Management Office data.

42 comments on “Double Dipton’s double downgrade doubletalk ”

  1. kbrown 1

    The man needs a break. Hawai’i ?

  2. RobM 2

    Look Audrey has written an opinion piece for NZ’s leading National Party newsletter and she says he’s the right man to be the right-hand man, so everything is going to be all right. Whatever happens we can rely on his southern stoicism to stare it down:


    “National’s Southern Man has emerged from his first full term as Finance Minister as a dependable, safe pair of hands, having weathered a ministerial housing scandal early in his tenure.”

    . . .

    “Key’s inexperience turned out not to be a big disadvantage because he learned so quickly.

    But their talents still complement each other’s. Key is the out-there optimistic, socially liberal, rather poll-driven leader; English is the laconic, understated, socially conservative, intellectually robust deputy.”

    . . .

    “English is the one with the plans, the quiet reformer, who is steadily reshaping the public sector to make more room for the private sector, be it in the management of prisons, administration of social housing, or ownership of state assets.”
    . . .

    “John Key’s legacy to National has been his ability to deliver power through popular leadership. Bill English’s legacy will be in the way he has exercised power”

    And you can’t ask for fairer than that.

    • seeker 2.1

      Hooted at the “intellectually robust”. More like unoriginal yet cunning. Think Audrey has a soft spot for Bill.

    • marsman 2.2

      Audrey also thought Steven Joyce was a safe pair of hands on the Rena.

    • handle 2.3

      And they all get on really well, OK. Simon Power just felt like it was time to leave.

    • Draco T Bastard 2.4

      Whatever happens we can rely on his southern stoicism to stare it down:

      Southern Stoicism? First chance he got he moved north to Wellington. Obviously, not that stoic.

  3. randal 3

    the people of New Zealand know that this government had one and only one objective and that was to cash up the soe’s so they could stag their shares and piss off back to where they came from.
    fucking up the public service is incidental but fits with their policy of attacking anything that can be used to hold them to acount for their pelf.

    • Jimmy 3.1

      I wish that were the case, unfortunately so many are taken in by smile and nod Key that Nationals incompetence may not be punished come November 26th.

  4. Chris 4

    Young is sounds like she’s swallowed/regurgitated National’s PR narrative completely. Another Herald public relations wannabe.

  5. tsmithfield 5

    Entirely misleading.

    It is obvious that the longer the term, the greater the increase in rates. As per Eddies article:

    “Since the double downgrade, interest rates on new government bonds have risen by 0.2 per cent for bonds maturing in 2015 and 0.4 per cent for bonds maturing in 2023”

    But what about shorter term securities? If the difference in rate increase between 2015 and 2023 is 0.2%, it is quite likely that shorter term securities could well have risen in the vicinity of 1%, extrapolating backwards.

    All the government has to do is go short-term for awhile until our rating goes back up again. Should cost bugger all.

    • Colonial Viper 5.1

      All the government has to do is go short-term for awhile until our rating goes back up again. Should cost bugger all.

      Just in time for your brilliant strategy to run up against another global liquidity crunch.

      And you are clearly not familiar with the flattening yield curve since ‘Operation Twist’. Short term bonds are not much cheaper than long term bonds, if at all.

      • tsmithfield 5.1.1

        “Just in time for your brilliant strategy to run up against another global liquidity crunch.”

        Or hopefully we are in surplus by then and can repay out of cash.

        “And you are clearly not familiar with the flattening yield curve since ‘Operation Twist’. Short term bonds are not much cheaper than long term bonds, if at all.”

        Actually you are absolutely wrong on this point. The bond rates are shown at the bottom right hand corner. Notice the difference in rates. Three month at 0% through to 30 year at 3.26%. Even with operation twist there is quite a difference. In fact the longer term bond rates have been rising recently despite operation twist. So the increase in longer term rates on NZ borrowing might be more to do with a general increase in rates rather than a specific increase for NZ.

  6. Afewknowthetruth 6

    ‘Since the double downgrade, interest rates on new government bonds have risen by 0.2 per cent for bonds maturing in 2015 and 0.4 per cent for bonds maturing in 2023 …’

    What a laugh!

    Anyone with a brain that functions properly knows the system is very close to catastrophic failure, and that the catastrophic failure will occur well before 2020 and almost certainly before 2015.

    Keep buying the bits of almost worthless paper, that lose value by the day, whoever you are.


  7. Afewknowthetruth 7

    By the way, although TPTB are still managing to ‘kick the can down the road’, the ‘can’ is disintegrating rather quickly.


    The meeting scheduled for Sunday has now been deferred till Wednesday.

    Somethin’s burnin’ (apart from tyres, cars and shops in Athens).

    Coming to a country like your’s soon.

    • One Anonymous Bloke 7.1

      Catastrophic failure, you say? Oh damn, I was thinking of getting a hair cut.

      • Afewknowthetruth 7.1.1


        Most of the people who continue to place their faith in the dying system will get a ‘hair cut’.

        • One Anonymous Bloke

          I’ll put my faith in the dyeing system then. I hear Cassandra swears by it.

  8. tsmithfield 8

    Cunliffe is either an idiot or being deliberately misleading.

    Interest rates rise and fall with the market. So, nothing can be read into nominal rate increases/decreases. What if the cost of borrowing had decreased? Could it then be claimed that the credit downgrade had reduced our borrowing costs?

    What English was meaning is that a downgrade means we end up paying 0.1% more than we otherwise would have, after general market movements have been discounted. The problem for Cunliffe is that he has not differentiated general market movements from the additional premium for the credit downgrade.

    • RedLogix 8.1

      The problem for Cunliffe is that he has not differentiated general market movements from the additional premium for the credit downgrade.

      And neither have you. On the other hand if you are going to argue that the credit downgrade had no effect, then what were Key and English smoking when they were boasting how their policies were all about avoiding a downgrade and the consequent rise in interest rates?

      Whatever has happened in the short-term, whether rates actually rose or fell due to some combination of the general market pressures and the downgrade… you have to expect that in the long-run a lower credit rating will result in higher interest rates. Otherwise what is the point of a rating system at all? (Something I’m sure AFKTT would have an opinion on, but that’s beside the point…:-)

  9. tsmithfield 9

    No-one is disputing that rates will increase in response to a downgrade. However, Cunliffe is making the claim that it is more than the 0.1% asserted by English. So it is up to Cunliffe to show that the rates he is pointing to is the result of the downgrade, not just general market movement.

    • RedLogix 9.1

      No-one is disputing that rates will increase in response to a downgrade.

      But now of course you want to hide it in the noise of ‘general market movements’. (Where have I seen that tactic before…mmmm?)

      Of course when Key and English were slashing public sector services using the justification that it was to ‘avoid a downgrade’… it was a big deal. Now it’s happened, and largely because it wasn’t public expenditure they’ve slashed but public sector tax income, it’s all of a sudden a minor thing that can be more or less ignored.

      But hey ts it’s a nice Sunday morning and there are a couple of big brownies lurking in the stream just over the back fence….

      • Colonial Viper 9.1.1

        you see its tsmithfield who is the moron here. He has forgotten about how economists view the markets as “rational” and “efficient” and how a decision like a credit downgrade affects every aspect of how market players treat our debt, whether to a lesser or greater degree.

        In other words, tsmithfield thinks you can piss into a pitcher of lemonade and still demonstrably “separate out the piss from the general lemonade”.


        • tsmithfield

          I need to point you both back to the link I gave yeseterday that CV obviously didn’t bother looking at.

          Notice the bottom right hand corner and the US bond rates. See there that their longer term bond rates (5 years plus) have been rising, and have been doing so for the last few weeks. This is despite the US being the world’s perceived safe haven and the Fed’s efforts through operation twist to bring down their longer term rates. Note that US bond rates actually fell for quite some time after their downgrade, because, despite the downgrade the US is perceived as being the ultimate safe haven because they can always pay their debt in the world’s reserve currency even if it means printing more dollars.

          Consequently, if interest rates are rising in the world’s safe haven, then it is conclusive evidence that the rate increases experienced by NZ are more to do with general market movements rather than our specific downgrade.

          If you can’t see this then I really can’t see any hope for you.

          • tc

            Another busy day trolling ahead for you.

            • tsmithfield

              That was a great contribution to the discussion. What that suggests to me is that you can’t actually come up with anything sensible to refute the points I have been making.

          • Draco T Bastard

            This is despite the US being the world’s perceived safe haven…

            Not according to the market. After an initial drop the NZ$ has been steadily rising against the US$ since the downgrade. It’s almost back to where it was before the downgrade.

            …world’s reserve currency even if it means printing more dollars.

            A fiat currency with a floating rate is not a reserve currency no matter how much the US (and it’s sycophants) wants to believe it is.

            • tsmithfield

              “Not according to the market. After an initial drop the NZ$ has been steadily rising against the US$ since the downgrade. It’s almost back to where it was before the downgrade.”

              Just think about what happens to the US dollar everytime there is some fear or another in the market. It goes up because every man and his dog is sinking their wealth into US treasury bonds which are perceived as the world’s safest haven. How do you think they can sell short-term bonds at zero percent yield otherwise as per the google finance link I pointed you to?

              “A fiat currency with a floating rate is not a reserve currency no matter how much the US (and it’s sycophants) wants to believe it is.”

              It might not always be that in the future. But that is how the world treats it now. See my point above.

              • ak

                Fair enough Smithy. So downgrades don’t hurt us much. So when English and Key said they do, they were lying through their teeth and scaremongering. Again. Thanks for that.

                • Colonial Viper

                  ts is a fucking amatuer at this game, he doesn’t even realise that there are 5 year US bonds maturing this week, next week and next month priced at different yields.

                  And that derivatives like credit default swaps are where the market prices risks today.

                  Like I said, ts is a fucking amatuer.

              • mik e

                tsm thats only because the US has printed more money recently making their dollar less valuable.Most economists agree that while the downgade may not have an immediate effect ever the longer term it will cost NewZealand

                • Colonial Viper

                  the issue is Key and English swearing black and blue that a credit downgrade would be a disaster, and when it happens to us on their watch due to their incompetence they shrug it off. I think the phrase lying hypocrites is accurate.

  10. Afewknowthetruth 10


    The whole purpose of a ratings downgrade is to provide a reason to extract more interest from the person/organisation/nation involved -so-called risk assessment.

    Your attempts to ‘prove’ otherwise really are pathetic.

    What is really interesting is that the last time a National government got NZ into a really deep hole (Muldoon) mortgage interest rates were 11%, then 12%, 14%, 16%, 18%, 20%, and higher risk loans attracted up to 28% interest.

    With the global economy now close to the point of collapse with interest rates in many nations at historically low levels (1% or less), it is clear that significant elevation of interest rates would cause an immediate economic implosion for most countries.

    This discussion is just another example of debating how many angels will fit on a pinhead, since the energy system that supports everything in industrialised societies is on the way down and there is nothing that can be done to prevent the inevitable collapse (though last acts of desperation -fracking, deep-seas drilling, tar sands etc. will undoubtedly be applied in futile attempts to prop up present arrangements a little longer).

    Oh, and whatever cheap energy we DO have will be squandered on idiotic activites, such as RWC, which provides extremely profitable rorts for opportunists and corporations.

    • One Anonymous Bloke 10.1

      What, we have to give up rugby as well as money and trade? I see what you mean – that is a catastrophe alright!

      • Afewknowthetruth 10.1.1


        You don’t have to give up PLAYING rugby. Just give up the corporatised, money-scam version that has been peddled for the past couple of decades.

        • One Anonymous Bloke

          So you’re saying elite sports won’t be a way to earn a living any more? Will that just apply to rugby or will it encompass other sports as well? What about sponsorship deals for individual players? Phew! I can see a few problems developing with getting people to accept your new world order, but I expect you know best.
          Yay we won!

          • Afewknowthetruth


            ‘I can see a few problems developing with getting people to accept your new world order, but I expect you know best.’

            All truth pases through three stages.

            At first it is ignored/ridiculed.

            Then it is opposed.

            Finally it is accepted as self-evident. (Schopenhauer)

  11. tc 11

    To TS and all the RWNJ’S it’s all about living in the past and attempting to perpetuate a broken system that continues to serve them well as long as their hollow idols stay in power.

    The thought of a new way or order terrifies them.

    • Draco T Bastard 11.1


      The one thing that truly does terrify RWNJs is change – especially when that change looks like it will take away the legalised theft that become the norm over the last couple of centuries.

  12. Afewknowthetruth 12


    I agree with the sentiment but would like to point out that the legalised theft system has been the norm in the English-speaking world since the time of the Norman invasion (1066).

Links to post

Recent Comments

Recent Posts

  • Rotuman Language week affirms language as the key to Pacific wellbeing
    The first Pacific Language Week this year  makes it clear that  language is the key to the wellbeing for all Pacific people said Minister for Pacific Peoples, Aupito William Sio. “This round of language  weeks begin with Rotuman. As I have always  said language is one of the pillars of ...
    BeehiveBy beehive.govt.nz
    13 hours ago
  • Budget delivers improved cervical and breast cancer screening
    Budget 2021 funds a more effective cervical screening test to help reduce cervical cancer rates A new breast screening system that can proactively identify and enrol eligible women to reach 271,000 more people who aren’t currently in the programme. Budget 2021 delivers a better cervical screening test and a major ...
    BeehiveBy beehive.govt.nz
    17 hours ago
  • NZ-France to co-chair Christchurch Call Leaders’ Summit
    New Zealand and France will jointly convene the Christchurch Call Community for a leaders’ summit, to take stock of progress and develop a new shared priority work plan. Prime Minister Jacinda Ardern and President Emmanuel Macron will co-chair the leaders’ meeting on the 2nd anniversary of the Call, on 14 ...
    BeehiveBy beehive.govt.nz
    21 hours ago
  • New South Wales travel pause to be lifted tomorrow
    COVID-19 Response Minister Chris Hipkins says the current travel pause with New South Wales will lift tomorrow – subject to no further significant developments in NSW. “New Zealand health officials met today to conduct a further assessment of the public health risk from the recently identified COVID-19 community cases in Sydney. It has been determined that the risk to public ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • March 15 Collective Impact Board appointed
    The voices of those affected by the March 15 mosque attacks will be heard more effectively with the establishment of a new collective impact board, Associate Minister for Social Development and Employment Priyanca Radhakrishnan announced today. Seven members of the Christchurch Muslim community have been appointed to the newly established Board, ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • More young Kiwis supported with mental health and addiction services
    Nearly quarter of a million more young New Zealanders will have access to mental health and addiction support in their communities as the Government’s youth mental health programme gathers pace. New contracts to expand youth-specific services across the Northland, Waitematā and Auckland District Health Board areas have been confirmed, providing ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • New hospital facilities mean fewer trips to Auckland for Northlanders
    Northlanders will no longer automatically have to go to Auckland for lifesaving heart procedures like angiograms, angioplasty and the insertion of pacemakers, thanks to new operating theatres and a cardiac catheter laboratory opened at Whangārei Hospital by Health Minister Andrew Little today. The two projects – along with a new ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Fair Pay Agreements to improve pay and conditions for essential workers
    The Government is delivering on its pre-election commitment to implement Fair Pay Agreements which will improve wages and conditions, as well as help support our economic recovery, Workplace Relations and Safety Minister Michael Wood announced today. Fair Pay Agreements will set minimum standards for all employees and employers in an ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Establishment of the new Māori Health Authority takes first big step
    Sir Mason Durie will lead a Steering Group to provide advice to the Transition Unit on governance arrangements and initial appointments to an interim board to oversee the establishment of the Māori Health Authority. This Group will ensure that Māori shape a vital element of our future health system, Minister ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Cycle trails move up a gear in Central
    Work on new and upgraded cycle trails in Queenstown, Arrowtown and Central Otago is moving up a gear as two significant projects pass further milestones today. Tourism Minister Stuart Nash has announced new funding for the Queenstown Trails Project, and will also formally open the Lake Dunstan Trail at Bannockburn ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Picton ferry terminal upgrade consent fast-tracked
    The planned upgrade of the Waitohi Picton Ferry terminal has been approved under the fast-track consenting process.  Environment Minister David Parker today welcomed the decision by the expert consenting panel to approve the Waitohi Picton Ferry Precinct Redevelopment Project.    The project will provide a significant upgrade to the ferry facilities ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Quarantine Free Travel with New South Wales paused
    COVID-19 Response Minister Chris Hipkins has announced his intention to pause Quarantine Free Travel from New South Wales to New Zealand while the source of infection of the two cases announced in Sydney in the last two days is investigated.  Whole genome sequencing has linked the case yesterday to a recent ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Covid-19 immigration powers to be extended
    The passing of a bill to extend temporary COVID-19 immigration powers means continued flexibility to support migrants, manage the border, and help industries facing labour shortages, Immigration Minister Kris Faafoi said. “Over the past year, we’ve made rapid decisions to extend visas, vary visa conditions and waive some application requirements ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • “Supporting a Trade-Led Economic Recovery”
    Trade Policy Road Show SpeechManukau, Auckland   Kia ora koutou – nau mai, haere mai ki Manukau, ki Tāmaki.   Good morning everyone, and thank you for this opportunity to discuss with you current global challenges, opportunities and the Government’s strategy in support of a trade-led recovery from the economic ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Building consent numbers at an all-time high
    A record 41,028 new homes have been consented in the year ended March 2021 March 2021 consent numbers the highest since the 1940s Record number of new homes consented in Auckland The number of new homes consented is at an all-time high, showing a strong and increasing pipeline of demand ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Whānau-centred support for parents and tamariki
    Up to 60 whānau in Counties Manukau will be supported through the first three years of their parenthood by a new whānau-centred model of care, said Associate Health Minister, Hon Aupito William Sio. “Providing this support to young parents is something we have to get right. It’s a priority both ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • NZ backs moves to improve global access to COVID vaccines
    New Zealand welcomes and strongly supports the announcement made by the United States Trade Representative to work for a waiver of IP protections on COVID-19 vaccines at the WTO, Trade Minister Damien O’Connor said. “New Zealand supports equitable access to COVID vaccines for all. No one is safe from the ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Tourism communities: support, recovery and re-set plan
    TIHEI MAURI ORA Tuia te whakapono Tuia te tumanako Tuia te aroha Tuia te hunga ora Ki te hunga ora Tihei Mauri ora Ka nui te mihi ki a koutou Tena koutou, tena koutou, tena koutou katoa. Thank you, Hilary and thank you, Chris, and everyone at TIA for this ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Support, recovery and re-set plan for tourism communities
    Five South Island tourist communities targeted for specialist support Pressure on Māori tourism operators and Conservation facilities recognised Domestic and international-facing tourism agencies put on more secure footing Long-term plan to re-set tourism with a focus on sustainability, industry standards and regional economic diversification A plan to ensure the immediate ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Speech on NZ Rail Plan
    Check against delivery E ngā mana, e ngā reo, e ngā karanga maha o te wa, tēnā koutou, tēnā koutou, tēnā tātou katoa. Ki ngā mana whenua o Taranaki Whānui anō nei aku mihi ki a koutou. Nōku te hōnore kia haere mai ki te whakanuia tēnei huihuinga whakahirahira. Nō ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Government hits massive milestone in Violence Prevention & Elimination
    Minister for Family and Sexual Violence Marama Davidson announced a major milestone at a hui in South Auckland today, with the launch of the national engagement process on the prevention and elimination of family and sexual violence. “There is no room for violence in our lives – there is no ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Fee waiver extended for conservation tourism businesses
    Tourism businesses operating on public conservation land will have another six months of fees waived to help them adjust to the downturn in international visitors in the wake of the COVID-19 pandemic, Acting Minister of Conservation Dr Ayesha Verrall has announced. "We acknowledge it has been a difficult year for ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • ‘Lua Wave’ to future-proof Pasifika Festivals in Aotearoa
    Pasifika festival organisers will receive additional support to adapt to the COVID-19 environment thanks to the Government’s newly launched ‘Lua Wave’ component of the Pasifika Festivals Initiative, Minister for Arts, Culture and Heritage Carmel Sepuloni announced today. “This initiative has not only been to support festival organisers to recover from ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Crown accounts show confidence in Govt economic plan
    The Government’s financial accounts continue to reflect the resilience of the economy and confidence in the Government’s economic recovery plan. The Crown accounts for the nine months to the end of March 2021 show both OBEGAL and the operating balance remain better than forecast in the Half Year Economic and ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Energy Trusts of NZ Autumn Conference
    It’s a pleasure to be here today. Thank you Karen [Sherry] for the introduction and thanks to the Energy Trusts Executive for inviting me to speak at tonight’s event. It is an exciting time to come to speak to trustees of distribution companies. For many decades the electricity industry was ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • New partnership to grow Māori success in STEM
    A new partnership with the Pūhoro STEM Academy will support thousands more rangatahi Māori to participate and succeed in the fields of science, technology, and innovation, Associate Education Minister Kelvin Davis announced today. Since 2016, Pūhoro has worked with Māori students to build their capability and create pathways to employment ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Rail builds platform for economic recovery
    Transport Minister Michael Wood and State-Owned Enterprises Minister Dr David Clark today released the Government’s long term vision for a sustainable rail network that supports our economic recovery. New Zealand Rail Plan lays out how the Government is building a resilient, reliable and safe network, as well as the indicative ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • NZ and UK agree to lift the pace of free trade talks
    New Zealand and the United Kingdom have agreed to rapidly lift the tempo of talks, as the two countries enter a new phase in free trade negotiations, Trade and Export Growth Minister Damien O’Connor announced today. “UK Secretary of State for International Trade, Liz Truss, and I spoke today about ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Counter-Terrorism Legislation Bill passes first reading
    The Counter-Terrorism Legislation Bill has passed its first reading and will now be considered by Parliament’s Justice select committee. “The Bill updates and improves New Zealand’s counter-terrorism legislation and ensures that the right legislative tools are available to intervene early and prevent harm,” Minister of Justice Kris Faafoi said. “The ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Statement on The Speaker and Annual Review Debate
    “The serious issue of alleged sexual assault and harassment at Parliament was poorly managed and inappropriately politicised last night. The tone of the debate did not reflect well on Parliament as a whole,” Prime Minister Jacinda Ardern said. “Any investigation of claims of sexual assault should be in a manner ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Govt motoring towards zero-carbon buses and protecting drivers’ conditions
    Transport Minister Michael Wood is seeking feedback on options for the next phase of the Public Transport Operating Model (PTOM) review to better protect bus drivers’ pay conditions, and also achieving the Government’s target of fully decarbonising the public transport bus fleet by 2035. Michael Wood said investing in our ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Drop in unemployment shows Govt economic plan is working
    The Government’s economic recovery plan continues to be reflected in the labour market, with more people in work and unemployment falling. Stats NZ figures show employment rose by 15,000 in the March quarter, with 14,000 more women in work. The unemployment rate fell from 4.9 percent to 4.7 percent. This ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Government sets pay and workforce expectations for the Public Sector
    The Government’s Workforce Policy Statement issued today sets out its expectations for pay and employment relations in the Public Sector, the Minister of Finance and Minister for the Public Service say. “New Zealand has had an exceptionally successful health and economic response to COVID-19. This has been supported by the ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Author Ben Brown is New Zealand’s first Te Awhi Rito Reading Ambassador
    Lyttleton writer Ben Brown (Ngāti Mahuta, Ngāti Koroki, Ngāti Paoa) will be New Zealand’s first Te Awhi Rito Reading Ambassador, promoting the value of reading for children and young people, Internal Affairs Minister Jan Tinetti announced today. A poet and award-winning author, Ben Brown writes books, non-fiction and short stories ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Celebrating New Zealand’s firefighters this International Firefighters’ day
    With two fire stations already complete, and building underway on 16 fire stations around the country, today we celebrate International Firefighters’ Day for the important role firefighters have in keeping communities across the country safe, says Minister of Internal Affairs, Jan Tinetti. The work is progressing due to Government funding ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Ron Brierley knighthood to go
    Ron Brierley has written to the Clerk of the Executive Council to tender his resignation as a Knight Bachelor. The Queen has been informed. The forfeiture follows the Prime Minister initiating the process to remove his Knighthood. The Clerk of the Executive Council wrote to him on 6 April 2021 ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Employment boost for rural communities
    The Government is continuing to create opportunities for at-risk rangatahi overcome barriers to employment, education or training with the next tranche of He Poutama Rangatahi programmes, Minister for Social Development and Employment Carmel Sepuloni announced today. “We’re focused on supporting rangatahi to get what they need to progress in the ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Pre-Budget speech to Wellington Chamber of Commerce
    Thank you for the invitation to speak today, it is great to be here.  I mean that both sincerely and literally. For this equivalent speech last year I took part virtually, beaming in from the Beehive Theatrette with only a socially distanced press gallery bearing silent witness. You are a ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Budget 2021 reprioritises nearly $1 billion
    The Government’s strong pandemic response and the better than expected economic recovery means not all the money allocated in the COVID-19 Response and Recovery Fund has been spent, Grant Robertson said in his annual pre-Budget speech to the Wellington Chamber of Commerce this morning. “As part of Budget preparation I ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Speech on Digital Identity Trust Framework
    I'd like to start by thanking Graeme, David and Ben from NZTech and Digital Identity New Zealand for inviting me to speak to you. I’m so sorry I can’t be there in person, but I want to acknowledge those of you who are, including some of this country’s top tech ...
    BeehiveBy beehive.govt.nz
    6 days ago