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:

    http://www.nzherald.co.nz/politics/news/article.cfm?c_id=280&objectid=10760816

    “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.

    Dumb-arses.

  7. Afewknowthetruth 7

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

    http://www.independent.co.uk/news/business/news/new-greek-bailout-cash-comes-with-dire-warning-2373672.html

    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

        OAB

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

        • One Anonymous Bloke 7.1.1.1

          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”.

        Moron.

        • tsmithfield 9.1.1.1

          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 9.1.1.1.1

            Another busy day trolling ahead for you.

            • tsmithfield 9.1.1.1.1.1

              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 9.1.1.1.2

            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 9.1.1.1.2.1

              “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

    tsmithfield

    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

        OAB

        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 10.1.1.1

          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 10.1.1.1.1

            OAB

            ‘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

      +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

    DTB

    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

  • Government support for South Auckland community hit by tornado
    The Government is contributing $100,000 to a Mayoral Relief Fund to support Auckland communities impacted by the Papatoetoe tornado, Acting Minister for Emergency Management Kris Faafoi says. “My heart goes out to the family and friends who have lost a loved one, and to those who have been injured. I ...
    BeehiveBy beehive.govt.nz
    16 hours ago
  • Celebrating World Refugee Day
    World Refugee Day today is an opportunity to celebrate the proud record New Zealanders have supporting and protecting refugees and acknowledge the contribution these new New Zealanders make to our country, the Minister of Immigration Kris Faafoi said. “World Refugee Day is also a chance to think about the journey ...
    BeehiveBy beehive.govt.nz
    22 hours ago
  • Face to face meeting delivers significant progress on NZ-UK FTA
    New Zealand and the UK have committed to accelerating their free trade agreement negotiations with the aim of reaching an agreement in principle this August, Trade Minister Damien O’Connor announced. “We’ve held constructive and productive discussions towards the conclusion of a high-quality and comprehensive FTA that will support sustainable and inclusive trade, and ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Government taking action to protect albatross
    New population figures for the critically endangered Antipodean albatross showing a 5 percent decline per year highlights the importance of reducing all threats to these very special birds, Acting Minister of Conservation Dr Ayesha Verrall says. The latest population modelling, carried out by Dragonfly Data Science, shows the Antipodean albatross ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Adoption laws under review
    New Zealand’s 66-year-old adoption laws are being reviewed, with public engagement beginning today.  Justice Minister Kris Faafoi said the Government is seeking views on options for change to our adoption laws and system. “The Adoption Act has remained largely the same since 1955. We need our adoption laws to reflect ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Wider roll-out of cameras on boats to support sustainability and protect marine life
    Up to 300 inshore commercial fishing vessels will be fitted with on-board cameras by 2024 as part of the Government’s commitment to protect the natural marine environment for future generations.  Minister for Oceans and Fisheries David Parker today announced the funding is now in place for the wider roll out ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Plan for vaccine rollout for general population announced
    New Zealanders over 60 will be offered a vaccination from July 28 and those over 55 from August 11, Prime Minister Jacinda Ardern announced today. The rollout of the vaccine to the general population will be done in age groups as is the approach commonly used overseas, with those over ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • New Zealand introduces Belarus travel bans
    New Zealand has imposed travel bans on selected individuals associated with the Lukashenko regime, following ongoing concerns about election fraud and human rights abuses after the 2020 Belarus elections, Foreign Affairs Minister Nanaia Mahuta has announced. The ban covers more than fifty individuals, including the President and key members of ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • NZ economy grows driven by households, construction and business investment
    The Government’s efforts to secure the recovery have been reflected in the robust rebound of GDP figures released today which show the economy remains resilient despite the ongoing impact of the COVID-19 pandemic, Grant Robertson said. GDP increased 1.6 percent in the first three months of 2021. The Treasury had ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Milestone 250th tower continues to improve rural connectivity
    The Government has welcomed the completion of the 250th 4G mobile tower, as part of its push for better rural connectivity. Waikato’s Wiltsdown, which is roughly 80 kilometres south of Hamilton, is home to the new tower, deployed by the Rural Connectivity Group to enable improved service to 70 homes ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Quarantine Free Travel pause with Victoria to lift on Tuesday
    Following a further public health assessment of the COVID-19 outbreak in greater Melbourne, New Zealand’s Quarantine Free Travel pause with Victoria has been extended to 11.59pm on Tuesday 22 June, COVID-19 Response Minister Chris Hipkins says. It has been determined that the risk to public health in New Zealand continues ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Prime Minister mourns passing of Dr Sir Ian Hassall
    Prime Minister Jacinda Ardern is mourning the passing of Dr Sir Ian Hassall, New Zealand’s first Children’s Commissioner and lifelong champion for children and children’s health. As a paediatrician Sir Ian contributed to a major world-first cot death study that has been directly credited with reducing cot deaths in New ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • APEC structural reform meeting a success
    APEC ministers have agreed working together will be crucial to ensure economies recover from the impact of COVID-19. Minister of Commerce and Consumer Affairs David Clark, chaired the virtual APEC Structural Reform Ministerial Meeting today which revolved around the overarching theme of promoting balanced, inclusive, sustainable, innovative and secure growth ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Digital hub to boost investment in forestry
    A new website has been launched at Fieldays to support the forestry sector find the information it needs to plant, grow and manage trees, and to encourage investment across the wider industry. Forestry Minister Stuart Nash says the new Canopy website is tailored for farmers, iwi and other forestry interests, ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Government continues support for rangatahi to get into employment, education and training
    Over 230 rangatahi are set to benefit from further funding through four new He Poutama Rangatahi programmes, Minister for Social Development and Employment Carmel Sepuloni announced today. “We’re continuing to secure our economic recovery from COVID by investing in opportunities for rangatahi to get into meaningful employment, education or training ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • NCEA subjects up for consultation
    The education sector, students, their parents, whānau and communities are invited to share their thoughts on a list of proposed NCEA subjects released today, Education Minister Chris Hipkins says. This is a significant part of the Government’s NCEA Change Programme that commenced in 2020 and will be largely implemented by ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Major investment in plantain forage programme aims to improve freshwater quality
    The Government is backing a major programme investigating plantain’s potential to help farmers protect waterways and improve freshwater quality, Acting Agriculture Minister Meka Whaitiri announced at Fieldays today. The Sustainable Food and Fibre Futures (SFFF) fund is contributing $8.98 million to the $22.23 million seven-year programme, which aims to deliver ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • America’s Cup decision
    The Minister responsible for the America’s Cup has confirmed the joint Crown-Auckland Council offer to host the next regatta has been declined by the Board of Team New Zealand. “The exclusive period of negotiation between the Crown, Auckland Council, and Team New Zealand ends tomorrow, 17 June,” said Stuart Nash. ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Food and fibres sector making significant strides towards New Zealand’s economic recovery
    The Government is backing the food and fibres sector to lead New Zealand's economic recovery from COVID-19 with targeted investments as part of its Fit for a Better World roadmap, Forestry Minister Stuart Nash said. “To drive New Zealand’s recovery, we launched the Fit for a Better World – Accelerating ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Speech to He Whenua Taurikura – New Zealand’s annual hui on countering terrorism and violent...
    Check against delivery Can I begin by acknowledging the 51 shuhada, their families and the Muslim community. It is because of the atrocious violent act that was done to them which has led ultimately to this, the start of a dialogue and a conversation about how we as a nation ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Cost of Government Southern Response proactive package released
    The Government has announced the proactive package for some Southern Response policyholders could cost $313 million if all those eligible apply. In December, the Minister Responsible for the Earthquake Commission, David Clark announced a proactive package for SRES claimants who settled their claims before October 2014. It trailed the judgment ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • New support to reduce emissions from public building and construction projects
    Government agencies are getting new support to reduce carbon emissions generated by construction of new buildings, with the release of practical guidance to shape decisions on public projects. The Ministers for Building and Construction and for Economic Development say a new Procurement Guide will help government agencies, private sector suppliers, ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • He Whenua Taurikura: New Zealand’s first Hui on Countering Terrorism and Violent Extremism
    The Prime Minister has opened New Zealand’s first hui on Countering Terrorism and Violent Extremism, which is being held in Christchurch over the next two days. The hui delivers on one of the recommendations from the report of the Royal Commission of Inquiry into the terrorist attack on Christchurch masjidain ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Speech to inaugural Countering Terrorism Hui
    E aku nui, e aku rahi, Te whaka-kanohi mai o rātou mā, Ru-ruku-tia i runga i te ngākau whakapono, Ru-ruku-tia i runga i te ngākau aroha, Waitaha, Ngāti Mamoe, Ngai Tahu, nāu rā te reo pohiri. Tena tātou katoa. Ki te kotahi te kakaho ka whati, ki te kapuia, e ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Campaign shines a light on elder abuse
    A new campaign is shining a spotlight on elder abuse, and urging people to protect older New Zealanders. Launched on World Elder Abuse Awareness Day, the Office for Seniors’ campaign encourages friends, whānau and neighbours to look for the signs of abuse, which is often hidden in plain sight. “Research suggests ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Farewelling sports administrator and philanthropist Sir Eion Edgar
    Sport and Recreation Minister Grant Robertson today expressed his sorrow at the passing of Sir Eion Edgar – a leading sports administrator and celebrated philanthropist who has made a significant impact both within and beyond the sport sector. “Sir Eion’s energy, drive and generosity has been truly immense. He leaves ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Government to apologise for Dawn Raids
    The Government will make a formal apology for the wrongs committed during the Dawn Raids of the 1970’s. Between 1974 and 1976, a series of rigorous immigration enforcement policies were carried out that resulted in targeted raids on the homes of Pacific families. The raids to find, convict and deport overstayers ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Humanitarian support for Bangladesh and Myanmar
    Foreign Affairs Minister Nanaia Mahuta today announced that New Zealand is providing NZ $8.25 million in humanitarian assistance to support refugees and their host populations in Bangladesh and to support humanitarian need of internally displaced and conflict affected people in Myanmar.  “Nearly four years after 900,000 Rohingya crossed the border ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Poroporoaki: Dame Georgina Kamiria Kirby
    E Te Kōkō Tangiwai, Te Tuhi Mareikura, Te Kākākura Pokai kua riro i a matou. He toka tū moana ākinga ā tai, ākinga ā hau, ākinga ā ngaru tūātea.  Haere atu rā ki te mūrau a te tini, ki te wenerau a te mano.  E tae koe ki ngā rire ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Feedback sought on future of housing and urban development
    New Zealanders are encouraged to have their say on a long-term vision for housing and urban development to guide future work, the Housing Minister Megan Woods has announced. Consultation starts today on a Government Policy Statement on Housing and Urban Development (GPS-HUD), which will support the long-term direction of Aotearoa ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Clean car package to drive down emissions
    New rebates for electric and plug-in hybrid vehicles start July 1 with up to $8,625 for new vehicles and $3,450 for used. Electric vehicle chargers now available every 75km along most state highways to give Kiwis confidence. Low Emission Transport Fund will have nearly four times the funding by 2023 ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Progress towards simpler process for changing sex on birth certificates
    The Government is taking the next step to support transgender, non-binary and intersex New Zealanders, by progressing the Births, Deaths, Marriages and Relationships Registration Bill, Minister of Internal Affairs, Jan Tinetti announced today. “This Government understands that self-identification is a significant issue for transgender, non-binary and intersex New Zealanders, and ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Crown speeds up engagement with takutai moana applicants
    The Crown is taking a new approach to takutai moana applications to give all applicants an opportunity to engage with the Crown and better support the Māori-Crown relationship, Treaty of Waitangi Negotiations Minister Andrew Little says. Following discussions with applicant groups, the Crown has reviewed the existing takutai moana application ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Alcohol and Other Drug Treatment (AODT) Court opens
    The Minister of Justice, Kris Faafoi, and the Minister for Courts, Aupito William Sio, have welcomed the opening of a new Alcohol and Other Drug Treatment (AODT) Court in Hamilton. The AODT Court (Te Whare Whakapiki Wairua) addresses situations where substance abuse and offending are intertwined. “New Zealanders have told ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • EU and UK FTAs top of list for first ministerial trip since COVID-19
    Trade and Export Growth Minister Damien O’Connor today announced details of his planned visit to the United Kingdom and European Union next week, where he will hold trade and agriculture discussions to further New Zealand’s economic recovery from COVID-19. The visit will add political weight to ongoing negotiations with both the EU ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Arihia Bennett to chair Royal Commission Ministerial Advisory Group
    Te Rūnanga o Ngāi Tahu chief executive Arihia Bennett MNZM has been appointed chair of the newly appointed Ministerial Advisory Group on the Government’s Response to the Royal Commission of Inquiry into the terrorist attack on Christchurch mosques. “Twenty-eight people from diverse backgrounds across Aotearoa have been selected for the ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Speech to the New Zealand Medical Association General Practitioners' Conference, Rotorua
    Ki ngā pou maha o te whare hauora o Aotearoa, kei te mihiTo the pillars of our health system I acknowledge/thank you Ki te ope hapai hauora o roto o tēnei rūma, kei te mihi To our health force here in the room today, I acknowledge/thank you He taura tangata, ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Karangahape Road upgrades are streets ahead
    The upgrades to Karangahape Road makes the iconic street more pedestrian and cycle-friendly, attractive and environmentally sustainable, Transport Minister Michael Wood and Auckland Mayor Phil Goff said at the formal celebration of the completion of the Karangahape Road Enhancements project. The project included widening footpaths supporting a better outdoor dining ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Speech to APEC business event
    E ngā tumu herenga waka, ākina ā ngaru, ākina ā tai ka whakatere ngā waka ki te whakapapa pounamu, otirā, ki Tamaki o ngā waka Tena koutou katoa… To the great leaders assembled, who guided your waka through turbulent times, challenging waters and you continue to navigate your respective waka ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Pause on Quarantine Free Travel with Victoria extended
    Following an assessment of the COVID-19 outbreak in greater Melbourne, New Zealand’s Quarantine Free Travel pause with Victoria will continue for a further seven days, COVID-19 Response Minister Chris Hipkins says. There are now 93 cases associated with the outbreak in greater Melbourne, spread over four clusters. Contact tracing efforts ...
    BeehiveBy beehive.govt.nz
    2 weeks ago