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 ”

  • Comments are now closed

  1. kbrown 1
    22 October 2011 at 5:08 pm

    The man needs a break. Hawai’i ?

  2. RobM 2
    22 October 2011 at 5:37 pm

    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
      22 October 2011 at 6:25 pm

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

    • marsman 2.2
      22 October 2011 at 7:47 pm

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

    • handle 2.3
      22 October 2011 at 8:22 pm

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

    • Draco T Bastard 2.4
      22 October 2011 at 10:12 pm

      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
    22 October 2011 at 5:40 pm

    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
      22 October 2011 at 7:18 pm

      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
    22 October 2011 at 7:24 pm

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

  5. tsmithfield 5
    22 October 2011 at 7:58 pm

    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
      22 October 2011 at 8:51 pm

      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
        22 October 2011 at 9:41 pm

        “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
    22 October 2011 at 8:16 pm

    ‘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
    22 October 2011 at 8:28 pm

    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
      23 October 2011 at 7:41 am

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

      • Afewknowthetruth 7.1.1
        23 October 2011 at 8:28 am

        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
          23 October 2011 at 9:42 am

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

  8. tsmithfield 8
    23 October 2011 at 6:18 am

    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
      23 October 2011 at 7:06 am

      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
    23 October 2011 at 7:52 am

    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
      23 October 2011 at 8:14 am

      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
        23 October 2011 at 8:54 am

        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
          23 October 2011 at 9:22 am

          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
            23 October 2011 at 10:01 am

            Another busy day trolling ahead for you.

            • tsmithfield 9.1.1.1.1.1
              23 October 2011 at 10:02 am

              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
            23 October 2011 at 11:31 am

            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
              23 October 2011 at 12:19 pm

              “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 …
                23 October 2011 at 2:03 pm

                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 …
                  24 October 2011 at 4:48 pm

                  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 …
                23 October 2011 at 2:54 pm

                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 …
                  24 October 2011 at 4:50 pm

                  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
    23 October 2011 at 8:50 am

    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
      23 October 2011 at 2:27 pm

      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
        23 October 2011 at 9:07 pm

        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
          23 October 2011 at 11:17 pm

          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
            24 October 2011 at 9:26 am

            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
    23 October 2011 at 6:40 pm

    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
      24 October 2011 at 12:34 am

      +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
    24 October 2011 at 9:33 am

    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).

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    This is a re-post from The Climate Brink by Andrew Dessler In the wake of any unusual weather event, someone inevitably asks, “Did climate change cause this?” In the most literal sense, that answer is almost always no. Climate change is never the sole cause of hurricanes, heat waves, droughts, or ...
    Skeptical Science
    2 days ago

  • Serving at Seymour's pleasure.
    Something odd happened yesterday, and I’d love to know if there’s more to it. If there was something which preempted what happened, or if it was simply a throwaway line in response to a journalist.Yesterday David Seymour was asked at a press conference what the process would be if the ...
    Nick’s KōreroBy Nick Rockel
    2 days ago

  • Webworm LA Pop-Up
    Hi,From time to time, I want to bring Webworm into the real world. We did it last year with the Jurassic Park event in New Zealand — which was a lot of fun!And so on Saturday May 11th, in Los Angeles, I am hosting a lil’ Webworm pop-up! I’ve been ...
    David FarrierBy David Farrier
    2 days ago

  • “Feel good” school is out
    Education Minister Erica Standford yesterday unveiled a fundamental reform of the way our school pupils are taught. She would not exactly say so, but she is all but dismantling the so-called “inquiry” “feel good” method of teaching, which has ruled in our classrooms since a major review of the New ...
    PolitikBy Richard Harman
    2 days ago

  • 6 Months in, surely our Report Card is “Ignored all warnings: recommend dismissal ASAP”?
    Exactly where are we seriously going with this government and its policies? That is, apart from following what may as well be a Truss-Lite approach on the purported economic “plan“, and Victorian-era regression when it comes to social policy. Oh it’ll work this time of course, we’re basically assured, “the ...
    exhALANtBy exhalantblog
    3 days ago

  • Bread, and how it gets buttered
    Hey Uncle Dave, When the Poms joined the EEC, I wasn't one of those defeatists who said, Well, that’s it for the dairy job. And I was right, eh? The Chinese can’t get enough of our milk powder and eventually, the Poms came to their senses and backed up the ute ...
    More Than A FeildingBy David Slack
    3 days ago

  • Bryce Edwards: Why Tory Whanau has the lowest approval rating in the country
    Polling shows that Wellington Mayor Tory Whanau has the lowest approval rating of any mayor in the country. Siting at -12 per cent, the proportion of constituents who disapprove of her performance outweighs those who give her the thumbs up. This negative rating is higher than for any other mayor ...
    Democracy ProjectBy bryce.edwards
    3 days ago

  • Justice for Gaza?
    The New York Times reports that the International Criminal Court is about to issue arrest warrants for Israeli officials, including Prime Minister Benjamin Netanyahu, over their genocide in Gaza: Israeli officials increasingly believe that the International Criminal Court is preparing to issue arrest warrants for senior government officials on ...
    No Right TurnBy Idiot/Savant
    3 days ago

  • If there has been any fiddling with Pharmac’s funding, we can count on Paula to figure out the fis...
    Buzz from the Beehive Pharmac has been given a financial transfusion and a new chair to oversee its spending in the pharmaceutical business. Associate Health Minister David Seymour described the funding for Pharmac as “its largest ever budget of $6.294 billion over four years, fixing a $1.774 billion fiscal cliff”. ...
    Point of OrderBy Bob Edlin
    3 days ago

  • FastTrackWatch – The case for the Government’s Fast Track Bill
    Bryce Edwards writes – Many criticisms are being made of the Government’s Fast Track Approvals Bill, including by this writer. But as with everything in politics, every story has two sides, and both deserve attention. It’s important to understand what the Government is trying to achieve and its ...
    Point of OrderBy poonzteam5443
    3 days ago

  • Bernard’s pick 'n' mix for Monday, April 29
    TL;DR: Here’s my top 10 ‘pick ‘n’ mix of links to news, analysis and opinion articles as of 10:10am on Monday, April 29:Scoop: The children's ward at Rotorua Hospital will be missing a third of its beds as winter hits because Te Whatu Ora halted an upgrade partway through to ...
    The KakaBy Bernard Hickey
    3 days ago

  • Gordon Campbell on Iran killing its rappers, and searching for the invisible Dr. Reti
    span class=”dropcap”>As hideous as David Seymour can be, it is worth keeping in mind occasionally that there are even worse political figures (and regimes) out there. Iran for instance, is about to execute the country’s leading hip hop musician Toomaj Salehi, for writing and performing raps that “corrupt” the nation’s ...
    Gordon CampbellBy lyndon
    3 days ago

  • Auckland Rail Electrification 10 years old
    Yesterday marked 10 years since the first electric train carried passengers in Auckland so it’s a good time to look back at it and the impact it has had. A brief history The first proposals for rail electrification in Auckland came in the 1920’s alongside the plans for earlier ...
    Greater AucklandBy Matt L
    3 days ago

  • Coalition's dirge of austerity and uncertainty is driving the economy into a deeper recession
    Right now, in Aotearoa-NZ, our ‘animal spirits’ are darkening towards a winter of discontent, thanks at least partly to a chorus of negative comments and actions from the Government Photo: Lynn Grieveson / The KākāTL;DR: These are the six things that stood out to me in news and commentary on ...
    The KakaBy Bernard Hickey
    3 days ago

  • Disability Funding or Tax Cuts.
    You make people evil to punish the paststuck inside a sequel with a rotating castThe following photos haven’t been generated with AI, or modified in any way. They are flesh and blood, human beings. On the left is Galatea Young, a young mum, and her daughter Fiadh who has Angelman ...
    Nick’s KōreroBy Nick Rockel
    3 days ago

  • Of the Goodness of Tolkien’s Eru
    April has been a quiet month at A Phuulish Fellow. I have had an exceptionally good reading month, and a decently productive writing month – for original fiction, anyway – but not much has caught my eye that suggested a blog article. It has been vaguely frustrating, to be honest. ...
    A Phuulish FellowBy strda221
    4 days ago

  • 2024 SkS Weekly Climate Change & Global Warming News Roundup #17
    A listing of 31 news and opinion articles we found interesting and shared on social media during the past week: Sun, April 21, 2024 thru Sat, April 27, 2024. Story of the week Anthropogenic climate change may be the ultimate shaggy dog story— but with a twist, because here ...
    Skeptical Science
    4 days ago

  • Pastor Who Abused People, Blames People
    Hi,I spent about a year on Webworm reporting on an abusive megachurch called Arise, and it made me want to stab my eyes out with a fork.I don’t regret that reporting in 2022 and 2023 — I am proud of it — but it made me angry.Over three main stories ...
    David FarrierBy David Farrier
    4 days ago

  • Vic Uni shows how under threat free speech is
    The new Victoria University Vice-Chancellor decided to have a forum at the university about free speech and academic freedom as it is obviously a topical issue, and the Government is looking at legislating some carrots or sticks for universities to uphold their obligations under the Education and Training Act. They ...
    Point of OrderBy poonzteam5443
    4 days ago

  • Winston remembers Gettysburg.
    Do you remember when Melania Trump got caught out using a speech that sounded awfully like one Michelle Obama had given? Uncannily so.Well it turns out that Abraham Lincoln is to Winston Peters as Michelle was to Melania. With the ANZAC speech Uncle Winston gave at Gallipoli having much in ...
    Nick’s KōreroBy Nick Rockel
    4 days ago

  • 25
    She was born 25 years ago today in North Shore hospital. Her eyes were closed tightly shut, her mouth was silently moving. The whole theatre was all quiet intensity as they marked her a 2 on the APGAR test. A one-minute eternity later, she was an 8.  The universe was ...
    More Than A FeildingBy David Slack
    4 days ago

  • Fact Brief – Is Antarctica gaining land ice?
    Skeptical Science is partnering with Gigafact to produce fact briefs — bite-sized fact checks of trending claims. This fact brief was written by Sue Bin Park in collaboration with members from our Skeptical Science team. You can submit claims you think need checking via the tipline. Is Antarctica gaining land ice? ...
    Skeptical Science
    5 days ago

  • Policing protests.
    Images of US students (and others) protesting and setting up tent cities on US university campuses have been broadcast world wide and clearly demonstrate the growing rifts in US society caused by US policy toward Israel and Israel’s prosecution of … Continue reading → ...
    KiwipoliticoBy Pablo
    5 days ago

  • Open letter to Hon Paul Goldsmith
    Barrie Saunders writes – Dear Paul As the new Minister of Media and Communications, you will be inundated with heaps of free advice and special pleading, all in the national interest of course. For what it’s worth here is my assessment: Traditional broadcasting free to air content through ...
    Point of OrderBy poonzteam5443
    5 days ago

  • Bryce Edwards: FastTrackWatch – The Case for the Government’s Fast Track Bill
    Many criticisms are being made of the Government’s Fast Track Approvals Bill, including by this writer. But as with everything in politics, every story has two sides, and both deserve attention. It’s important to understand what the Government is trying to achieve and its arguments for such a bold reform. ...
    Democracy ProjectBy bryce.edwards
    5 days ago

  • Luxon gets out his butcher’s knife – briefly
    Peter Dunne writes –  The great nineteenth British Prime Minister, William Gladstone, once observed that “the first essential for a Prime Minister is to be a good butcher.” When a later British Prime Minister, Harold Macmillan, sacked a third of his Cabinet in July 1962, in what became ...
    Point of OrderBy poonzteam5443
    5 days ago

  • More tax for less
    Ele Ludemann writes – New Zealanders had the OECD’s second highest tax increase last year: New Zealanders faced the second-biggest tax raises in the developed world last year, the Organisation for Economic Cooperation and Development (OECD) says. The intergovernmental agency said the average change in personal income tax ...
    Point of OrderBy poonzteam5443
    5 days ago

  • Real News vs Fake News.
    We all know something’s not right with our elections. The spread of misinformation, people being targeted with soundbites and emotional triggers that ignore the facts, even the truth, and influence their votes.The use of technology to produce deep fakes. How can you tell if something is real or not? Can ...
    Nick’s KōreroBy Nick Rockel
    5 days ago

  • Another way to roll
    Hello! Here comes the Saturday edition of More Than A Feilding, catching you up on the past week’s editions.Share ...
    More Than A FeildingBy David Slack
    5 days ago

  • Simon Clark: The climate lies you'll hear this year
    This video includes conclusions of the creator climate scientist Dr. Simon Clark. It is presented to our readers as an informed perspective. Please see video description for references (if any). This year you will be lied to! Simon Clark helps prebunk some misleading statements you'll hear about climate. The video includes ...
    Skeptical Science
    5 days ago

  • Cutting the Public Service
    It is all very well cutting the backrooms of public agencies but it may compromise the frontlines. One of the frustrations of the Productivity Commission’s 2017 review of universities is that while it observed that their non-academic staff were increasing faster than their academic staff, it did not bother to ...
    PunditBy Brian Easton
    6 days ago

  • Luxon’s demoted ministers might take comfort from the British politician who bounced back after th...
    Buzz from the Beehive Two speeches delivered by Foreign Affairs Minister Winston Peters at Anzac Day ceremonies in Turkey are the only new posts on the government’s official website since the PM announced his Cabinet shake-up. In one of the speeches, Peters stated the obvious:  we live in a troubled ...
    Point of OrderBy Bob Edlin
    6 days ago

  • This is how I roll over
    1. Which of these would you not expect to read in The Waikato Invader?a. Luxon is here to do business, don’t you worry about thatb. Mr KPI expects results, and you better believe itc. This decisive man of action is getting me all hot and excitedd. Melissa Lee is how ...
    More Than A FeildingBy David Slack
    6 days ago

  • The Waitangi Tribunal is not “a roving Commission”…
    …it has a restricted jurisdiction which must not be abused: it is not an inquisition   NOTE – this article was published before the High Court ruled that Karen Chhour does not have to appear before the Waitangi Tribunal Gary Judd writes –  The High Court ...
    Point of OrderBy poonzteam5443
    6 days ago

  • Is Oranga Tamariki guilty of neglect?
    Lindsay Mitchell writes – One of reasons Oranga Tamariki exists is to prevent child neglect. But could the organisation itself be guilty of the same? Oranga Tamariki’s statistics show a decrease in the number and age of children in care. “There are less children ...
    Point of OrderBy Bob Edlin
    6 days ago

  • Three Strikes saw lower reoffending
    David Farrar writes: Graeme Edgeler wrote in 2017: In the first five years after three strikes came into effect 5248 offenders received a ‘first strike’ (that is, a “stage-1 conviction” under the three strikes sentencing regime), and 68 offenders received a ‘second strike’. In the five years prior to ...
    Point of OrderBy poonzteam5443
    6 days ago

  • Luxon’s ruthless show of strength is perfect for our angry era
    Bryce Edwards writes – Prime Minister Christopher Luxon has surprised everyone with his ruthlessness in sacking two of his ministers from their crucial portfolios. Removing ministers for poor performance after only five months in the job just doesn’t normally happen in politics. That’s refreshing and will be extremely ...
    Point of OrderBy poonzteam5443
    6 days ago

  • 'Lacks attention to detail and is creating double-standards.'
    TL;DR: These are the six things that stood out to me in news and commentary on Aotearoa-NZ’s political economy in the two days to 6:06am on Thursday, April 25:Politics: PM Christopher Luxon has set up a dual standard for ministerial competence by demoting two National Cabinet ministers while leaving also-struggling ...
    The KakaBy Bernard Hickey
    6 days ago

  • One Night Only!
    Hi,Today I mainly want to share some of your thoughts about the recent piece I wrote about success and failure, and the forces that seemingly guide our lives. But first, a quick bit of housekeeping: I am doing a Webworm popup in Los Angeles on Saturday May 11 at 2pm. ...
    David FarrierBy David Farrier
    6 days ago

  • What did Melissa Lee do?
    It is hard to see what Melissa Lee might have done to “save” the media. National went into the election with no public media policy and appears not to have developed one subsequently. Lee claimed that she had prepared a policy paper before the election but it had been decided ...
    PolitikBy Richard Harman
    6 days ago

  • NZ not backing down in Canada dairy dispute
    Trade Minister Todd McClay says Canada’s refusal to comply in full with a CPTPP trade dispute ruling in our favour over dairy trade is cynical and New Zealand has no intention of backing down. Mr McClay said he has asked for urgent legal advice in respect of our ‘next move’ ...
    BeehiveBy beehive.govt.nz
    33 mins ago

  • Stronger oversight for our most vulnerable children
    The rights of our children and young people will be enhanced by changes the coalition Government will make to strengthen oversight of the Oranga Tamariki system, including restoring a single Children’s Commissioner. “The Government is committed to delivering better public services that care for our most at-risk young people and ...
    BeehiveBy beehive.govt.nz
    2 hours ago

  • Streamlining Building Consent Changes
    The Government is making it easier for minor changes to be made to a building consent so building a home is easier and more affordable, Building and Construction Minister Chris Penk says.      “The coalition Government is focused on making it easier and cheaper to build homes so we can ...
    BeehiveBy beehive.govt.nz
    7 hours ago

  • Minister acknowledges passing of Sir Robert Martin (KNZM)
    New Zealand lost a true legend when internationally renowned disability advocate Sir Robert Martin (KNZM) passed away at his home in Whanganui last night, Disabilities Issues Minister Louise Upston says. “Our Government’s thoughts are with his wife Lynda, family and community, those he has worked with, the disability community in ...
    BeehiveBy beehive.govt.nz
    19 hours ago

  • Speech to New Zealand Institute of International Affairs, Parliament – Annual Lecture: Challenges ...
    Good evening –   Before discussing the challenges and opportunities facing New Zealand’s foreign policy, we’d like to first acknowledge the New Zealand Institute of International Affairs. You have contributed to debates about New Zealand foreign policy over a long period of time, and we thank you for hosting us.  ...
    BeehiveBy beehive.govt.nz
    19 hours ago

  • Accelerating airport security lines
    From today, passengers travelling internationally from Auckland Airport will be able to keep laptops and liquids in their carry-on bags for security screening thanks to new technology, Transport Minister Simeon Brown says. “Creating a more efficient and seamless travel experience is important for holidaymakers and businesses, enabling faster movement through ...
    BeehiveBy beehive.govt.nz
    21 hours ago

  • Community hui to talk about kina barrens
    People with an interest in the health of Northland’s marine ecosystems are invited to a public meeting to discuss how to deal with kina barrens, Oceans and Fisheries Minister Shane Jones says. Mr Jones will lead the discussion, which will take place on Friday, 10 May, at Awanui Hotel in ...
    BeehiveBy beehive.govt.nz
    1 day ago

  • Kiwi exporters win as NZ-EU FTA enters into force
    Kiwi exporters are $100 million better off today with the NZ EU FTA entering into force says Trade Minister Todd McClay. “This is all part of our plan to grow the economy. New Zealand's prosperity depends on international trade, making up 60 per cent of the country’s total economic activity. ...
    BeehiveBy beehive.govt.nz
    1 day ago

  • Mining resurgence a welcome sign
    There are heartening signs that the extractive sector is once again becoming an attractive prospect for investors and a source of economic prosperity for New Zealand, Resources Minister Shane Jones says. “The beginnings of a resurgence in extractive industries are apparent in media reports of the sector in the past ...
    BeehiveBy beehive.govt.nz
    1 day ago

  • Ō-Rākau Remembrance Bill passes first reading
    The return of the historic Ō-Rākau battle site to the descendants of those who fought there moved one step closer today with the first reading of Te Pire mō Ō-Rākau, Te Pae o Maumahara / The Ō-Rākau Remembrance Bill. The Bill will entrust the 9.7-hectare battle site, five kilometres west ...
    BeehiveBy beehive.govt.nz
    2 days ago

  • Government to boost public EV charging network
    Energy Minister Simeon Brown has announced 25 new high-speed EV charging hubs along key routes between major urban centres and outlined the Government’s plan to supercharge New Zealand’s EV infrastructure.  The hubs will each have several chargers and be capable of charging at least four – and up to 10 ...
    BeehiveBy beehive.govt.nz
    2 days ago

  • Residential Property Managers Bill to not progress
    The coalition Government will not proceed with the previous Government’s plans to regulate residential property managers, Housing Minister Chris Bishop says. “I have written to the Chairperson of the Social Services and Community Committee to inform him that the Government does not intend to support the Residential Property Managers Bill ...
    BeehiveBy beehive.govt.nz
    2 days ago

  • Independent review into disability support services
    The Government has announced an independent review into the disability support system funded by the Ministry of Disabled People – Whaikaha. Disability Issues Minister Louise Upston says the review will look at what can be done to strengthen the long-term sustainability of Disability Support Services to provide disabled people and ...
    BeehiveBy beehive.govt.nz
    2 days ago

  • Justice Minister updates UN on law & order plan
    Justice Minister Paul Goldsmith has attended the Universal Periodic Review in Geneva and outlined the Government’s plan to restore law and order. “Speaking to the United Nations Human Rights Council provided us with an opportunity to present New Zealand’s human rights progress, priorities, and challenges, while responding to issues and ...
    BeehiveBy beehive.govt.nz
    2 days ago

  • Ending emergency housing motels in Rotorua
    The Government and Rotorua Lakes Council are committed to working closely together to end the use of contracted emergency housing motels in Rotorua. Associate Minister of Housing (Social Housing) Tama Potaka says the Government remains committed to ending the long-term use of contracted emergency housing motels in Rotorua by the ...
    BeehiveBy beehive.govt.nz
    2 days ago

  • Trade Minister travels to Riyadh, OECD, and Dubai
    Trade Minister Todd McClay heads overseas today for high-level trade talks in the Gulf region, and a key OECD meeting in Paris. Mr McClay will travel to Riyadh to meet with counterparts from Saudi Arabia and the Gulf Cooperation Council (GCC). “New Zealand’s goods and services exports to the Gulf region ...
    BeehiveBy beehive.govt.nz
    3 days ago

  • Education priorities focused on lifting achievement
    Education Minister Erica Stanford has outlined six education priorities to deliver a world-leading education system that sets Kiwi kids up for future success. “I’m putting ambition, achievement and outcomes at the heart of our education system. I want every child to be inspired and engaged in their learning so they ...
    BeehiveBy beehive.govt.nz
    3 days ago

  • NZTA App first step towards digital driver licence
    The new NZ Transport Agency (NZTA) App is a secure ‘one stop shop’ to provide the services drivers need, Transport Minister Simeon Brown and Digitising Government Minister Judith Collins say.  “The NZTA App will enable an easier way for Kiwis to pay for Vehicle Registration and Road User Charges (RUC). ...
    BeehiveBy beehive.govt.nz
    3 days ago

  • Supporting whānau out of emergency housing
    Whānau with tamariki growing up in emergency housing motels will be prioritised for social housing starting this week, says Associate Housing Minister Tama Potaka. “Giving these whānau a better opportunity to build healthy stable lives for themselves and future generations is an essential part of the Government’s goal of reducing ...
    BeehiveBy beehive.govt.nz
    3 days ago

  • Tribute to Dave O'Sullivan
    Racing Minister Winston Peters has paid tribute to an icon of the industry with the recent passing of Dave O’Sullivan (OBE). “Our sympathies are with the O’Sullivan family with the sad news of Dave O’Sullivan’s recent passing,” Mr Peters says. “His contribution to racing, initially as a jockey and then ...
    BeehiveBy beehive.govt.nz
    3 days ago

  • Speech – Eid al-Fitr
    Assalaamu alaikum, greetings to you all. Eid Mubarak, everyone! I want to extend my warmest wishes to you and everyone celebrating this joyous occasion. It is a pleasure to be here. I have enjoyed Eid celebrations at Parliament before, but this is my first time joining you as the Minister ...
    BeehiveBy beehive.govt.nz
    3 days ago

  • Government saves access to medicines
    Associate Health Minister David Seymour has announced Pharmac’s largest ever budget of $6.294 billion over four years, fixing a $1.774 billion fiscal cliff.    “Access to medicines is a crucial part of many Kiwis’ lives. We’ve committed to a budget allocation of $1.774 billion over four years so Kiwis are ...
    BeehiveBy beehive.govt.nz
    3 days ago

  • Pharmac Chair appointed
    Hon Paula Bennett has been appointed as member and chair of the Pharmac board, Associate Health Minister David Seymour announced today. "Pharmac is a critical part of New Zealand's health system and plays a significant role in ensuring that Kiwis have the best possible access to medicines,” says Mr Seymour. ...
    BeehiveBy beehive.govt.nz
    4 days ago

  • Taking action on Fetal Alcohol Spectrum Disorder
    Hundreds of New Zealand families affected by Fetal Alcohol Spectrum Disorder (FASD) will benefit from a new Government focus on prevention and treatment, says Health Minister Dr Shane Reti. “We know FASD is a leading cause of preventable intellectual and neurodevelopmental disability in New Zealand,” Dr Reti says.  “Every day, ...
    BeehiveBy beehive.govt.nz
    5 days ago

  • New sports complex opens in Kaikohe
    Regional Development Minister Shane Jones today attended the official opening of Kaikohe’s new $14.7 million sports complex. “The completion of the Kaikohe Multi Sports Complex is a fantastic achievement for the Far North,” Mr Jones says. “This facility not only fulfils a long-held dream for local athletes, but also creates ...
    BeehiveBy beehive.govt.nz
    5 days ago

  • Diplomacy needed more than ever
    Foreign Minister Winston Peters’ engagements in Türkiye this week underlined the importance of diplomacy to meet growing global challenges.    “Returning to the Gallipoli Peninsula to represent New Zealand at Anzac commemorations was a sombre reminder of the critical importance of diplomacy for de-escalating conflicts and easing tensions,” Mr Peters ...
    BeehiveBy beehive.govt.nz
    5 days ago

  • Anzac Commemorative Address, Buttes New British Cemetery Belgium
    Ambassador Millar, Burgemeester, Vandepitte, Excellencies, military representatives, distinguished guests, ladies and gentlemen – good morning and welcome to this sacred Anzac Day dawn service.  It is an honour to be here on behalf of the Government and people of New Zealand at Buttes New British Cemetery, Polygon Wood – a deeply ...
    BeehiveBy beehive.govt.nz
    6 days ago

  • Anzac Commemorative Address – NZ National Service, Chunuk Bair
    Distinguished guests -   It is an honour to return once again to this site which, as the resting place for so many of our war-dead, has become a sacred place for generations of New Zealanders.   Our presence here and at the other special spaces of Gallipoli is made ...
    BeehiveBy beehive.govt.nz
    7 days ago

  • Anzac Commemorative Address – Dawn Service, Gallipoli, Türkiye
    Mai ia tawhiti pamamao, te moana nui a Kiwa, kua tae whakaiti mai matou, ki to koutou papa whenua. No koutou te tapuwae, no matou te tapuwae, kua honoa pumautia.   Ko nga toa kua hinga nei, o te Waipounamu, o te Ika a Maui, he okioki tahi me o ...
    BeehiveBy beehive.govt.nz
    7 days ago

  • PM announces changes to portfolios
    Paul Goldsmith will take on responsibility for the Media and Communications portfolio, while Louise Upston will pick up the Disability Issues portfolio, Prime Minister Christopher Luxon announced today. “Our Government is relentlessly focused on getting New Zealand back on track. As issues change in prominence, I plan to adjust Ministerial ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • New catch limits for unique fishery areas
    Recreational catch limits will be reduced in areas of Fiordland and the Chatham Islands to help keep those fisheries healthy and sustainable, Oceans and Fisheries Minister Shane Jones says. The lower recreational daily catch limits for a range of finfish and shellfish species caught in the Fiordland Marine Area and ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Minister welcomes hydrogen milestone
    Energy Minister Simeon Brown has welcomed an important milestone in New Zealand’s hydrogen future, with the opening of the country’s first network of hydrogen refuelling stations in Wiri. “I want to congratulate the team at Hiringa Energy and its partners K one W one (K1W1), Mitsui & Co New Zealand ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Urgent changes to system through first RMA Amendment Bill
    The coalition Government is delivering on its commitment to improve resource management laws and give greater certainty to consent applicants, with a Bill to amend the Resource Management Act (RMA) expected to be introduced to Parliament next month. RMA Reform Minister Chris Bishop has today outlined the first RMA Amendment ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Overseas decommissioning models considered
    Overseas models for regulating the oil and gas sector, including their decommissioning regimes, are being carefully scrutinised as a potential template for New Zealand’s own sector, Resources Minister Shane Jones says. The Coalition Government is focused on rebuilding investor confidence in New Zealand’s energy sector as it looks to strengthen ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Release of North Island Severe Weather Event Inquiry
    Emergency Management and Recovery Minister Mark Mitchell has today released the Report of the Government Inquiry into the response to the North Island Severe Weather Events. “The report shows that New Zealand’s emergency management system is not fit-for-purpose and there are some significant gaps we need to address,” Mr Mitchell ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Justice Minister to attend Human Rights Council
    Justice Minister Paul Goldsmith is today travelling to Europe where he’ll update the United Nations Human Rights Council on the Government’s work to restore law and order.  “Attending the Universal Periodic Review in Geneva provides us with an opportunity to present New Zealand’s human rights progress, priorities, and challenges, while ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Patterson reopens world’s largest wool scouring facility
    Associate Agriculture Minister, Mark Patterson, formally reopened the world’s largest wool processing facility today in Awatoto, Napier, following a $50 million rebuild and refurbishment project. “The reopening of this facility will significantly lift the economic opportunities available to New Zealand’s wool sector, which already accounts for 20 per cent of ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Speech to the Southland Otago Regional Engineering Collective Summit, 18 April 2024
    Hon Andrew Bayly, Minister for Small Business and Manufacturing  At the Southland Otago Regional Engineering Collective (SOREC) Summit, 18 April, Dunedin    Ngā mihi nui, Ko Andrew Bayly aho, Ko Whanganui aho    Good Afternoon and thank you for inviting me to open your summit today.    I am delighted ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Government to introduce revised Three Strikes law
    The Government is delivering on its commitment to bring back the Three Strikes legislation, Associate Justice Minister Nicole McKee announced today. “Our Government is committed to restoring law and order and enforcing appropriate consequences on criminals. We are making it clear that repeat serious violent or sexual offending is not ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • New diplomatic appointments
    Foreign Minister Winston Peters has today announced four new diplomatic appointments for New Zealand’s overseas missions.   “Our diplomats have a vital role in maintaining and protecting New Zealand’s interests around the world,” Mr Peters says.    “I am pleased to announce the appointment of these senior diplomats from the ...
    BeehiveBy beehive.govt.nz
    1 week ago

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