Economy 2018

Written By: - Date published: 8:00 am, December 9th, 2017 - 31 comments
Categories: business, capitalism, climate change, debt / deficit, economy, Economy, employment, energy, exports, Financial markets, Free Trade - Tags:

Politics and economies

It’s interesting in 2017 how little effect political destabilisation in Spain, Australia, Germany, and the United States has had on any of their economies. It seems that in many parts of the developed world, we may well continue to see political fragmentation, polarisation, and a gradual fracturing of the global world rule-based system (outside of notable trade exceptions). And yet the share markets are going gangbusters, inflation is nowhere in sight, unemployment in the E.U. and many other blocs is trending down, global poverty continues downwards if not fast enough, and markets and economies largely continue to shrug off political disorder. On that basis, the risk of a substantial short-term setback seems relatively small.

The big exception is the United Kingdom, with its messy and expensive Brexit process. This is likely to continue to weaken business confidence to invest in Britain, and may well weaken London’s core financial services industry as it relocates elsewhere.

The strongest example against economic performance diverging from political management is, of course, China. Chinese President Xi Jinping is in a stronger position than ever, suggesting that effective management of imbalances and more consumption- and innovation-driven growth can be expected.

India also appears set to sustain its growth and reform momentum.

The growth of these economies will continue to pull up others in the region including New Zealand.

Debt

A serious challenge looming in the global background is a mountain of debt that makes markets nervous – and that thus increases the system’s vulnerability to destabilizing shocks. Yet the baseline scenario seems to be one of continuity, with no obvious convulsions on the horizon (at some point I will do a review of “Debt: The First 5,000 Years”, which is teaching me a lot).

China is certainly facing up to debt.

But the United States isn’t.

One potential shock that has received much attention relates to monetary tightening. In view of improving economic performance in the developed world, a gradual reversal of aggressively accommodative monetary policy does not appear likely to be a major drag or shock to asset values. Perhaps the long-awaited upward convergence of economic fundamentals to validate market valuations is within reach.

Debt from private mortgages is one massive short term economic risk that New Zealand and Australia faces.

This is why the Reserve Bank regularly tests how much stress ‘our’ banks can take during economic downturns.

Auckland, Sydney and Melbourne property prices may lower, but there’s no current sign of a spike in mortgagee sales that might stress banks. Real estate and drought that decreases dairy production remain New Zealand’s two highest risks, as they were in 2009 immediately after the GFC.

Our fresh Labour-led government is both continuing active cooling of the housing market, and also planning a lot more public borrowing, so some are predicting a shorter term downturn with longer term economic growth.

Cash and Payments

When it comes to technology, especially digital technology, China and the United States seem set to disrupt for years to come. Smaller countries that concentrate research and development on areas such as payment platforms will be well positioned. Such platforms are not just lucrative on their own; they also produce a host of related opportunities for new business models operating in and around them, in, say, advertising, logistics, and finance. Given this, economies that lack such platforms, such as the E.U., are at a disadvantage. Even Latin America has a major innovative domestic e-commerce player and a digital payments system.

In mobile online payments systems, China is in the lead. With much of the country’s population having shifted directly from cash to mobile online payments – skipping cheques, cash, and credit cards – China’s payments systems are robust. We are within a sustained consumer-led revolution in payments.

In November’s Singles’ Day, an annual festival of youth-oriented consumption that has become the single largest shopping event in the world, China’s leading online payment platform, Alipay, processed up to 256,000 payments per second, using a robust cloud computing architecture. China is about to overtake the U.S. in consumer spending.

Inclusion and Exclusion

In the coming years, developed and developing economies will also have to work hard to shift toward more inclusive growth patterns. Here, I anticipate that national governments may take a back seat to businesses, state and local and city governments, (remaining) labour unions, and educational and non-profit institutions in driving progress, especially in places hit by political fragmentation and a backlash against the political establishment. Outside of China, Singapore, or South Korea, I see greater likelihood of business leadership from groups like our Sustainable Business Council than central government.

New Zealand has been well positioned by pivoting its economy towards China, South Korea, India, Japan, and Vietnam, while retaining strong trade links into Europe.

Such fragmentation of the centre is likely to intensify. Automation is set to sustain, and even accelerate, change on the demand side of labour markets, in areas ranging from manufacturing and logistics to medicine and law, while supply-side responses will be much slower. As a result, even if workers gain stronger support during structural transitions (e.g. income support like Working for Families, and retraining options with free study), labour market mismatches are likely to grow, sharpening inequality and contributing to further political and social polarization.

Openness

Nonetheless, there are reasons to be cautiously optimistic. For starters, there remains a broad consensus across the developed and emerging economies on the desirability of maintaining a relatively open global economy, as in the upcoming signing of the RPTPP.

The notable exception is the U.S., though it is unclear at this point whether President Donald Trump’s administration actually intends to retreat from international cooperation. What does seem clear, at least for now, is that the U.S. cannot be counted on to serve as a principal sponsor and architect of the evolving rules-based global system for fairly managing interdependence.

The biggest test of economic openness is global labour mobility. The long and massive humanitarian chaos from U.S.-led wars has led to global displacement not seen since World War II. The continued test of global labour mobility is whether it only continues to favour a priviliged and skilled few. In New Zealand, the forecast is pretty good, but even a decade after the GFC the forecast for wage growth for most workers is still low.

Climate Change

The situation is similar with regard to mitigating climate change. The U.S. is now the only country that is not committed to the Paris climate agreement, which has held despite the Trump administration’s withdrawal. Even within the U.S., cities, states, and businesses, as well as a host of civil-society organizations, have signaled a credible commitment to fulfilling America’s climate obligations, with or without the federal government.

Still, it’s perfectly rational to be deeply pessimistic about the impact of the world’s damaged ecology taken as a whole, as so much of the global economy remains highly dependent on coal and oil. The Financial Times reports that peak demand for coal in India will come in about ten years.

Australia shows how hard it is to stop coal production, where Germany shows that it’s possible.

Global coal use is flattening, and renewables are quickly accelerating.

Even with upside potential in this scenario, the world is still years away from negative growth in carbon dioxide emissions.

Optimism

While some classes like private housing still appear as a bubble pumped up by artificial and unsustainable monetary stimulus, other parts of our economy and much of the developed world are maturing into an expansion of economic activity, profits, and employment that probably have many years to come.

No inflation arising anywhere, increased global financial stability, headline unemployment heading for 3.5% here, and Europe, Japan, China, India and emerging markets in a sweet spot of rising profits and low interest rates. Good news for little old New Zealand.

Also, New Zealand’s government has been confirmed as having between $1.4b and $2.1b to spend. The Minister of Finance will set the direction for this next week. That’s some serious supply-side Santa for 2018.

Conclusion

All of this suggests that the global economy will confront serious challenges in the months and years ahead. Looming in the background is a mountain of debt that makes markets nervous and increases the system’s vulnerability to destabilizing shocks. With New Zealand basing much of its consistently narrow export economy on uninterrupted and free water for agriculture and horticulture, it is exacerbating its economic risks in the medium term.

Yet the baseline scenario for 2018 seems to be one of continuity. New Zealand is situated within an economic power and influence shift from west to east, without any sudden change in its patterns of job, income, political, and social polarization, and with no obvious convulsions on the 2018 horizon. Not too hot, not too cold.

31 comments on “Economy 2018”

  1. Bill 1

    Sagittarius

    Tip – Gather up sticks, play jackstraws and don’t hang the man.

    Personal – Feelings of uncertainty will be overcome by a proper application of industriousness this month. Money worries should ease and a new relationship may be just around the corner. Beware close friends don’t steal your fire. Your conviviality and general sense of warmth will see you through any rough patch.

    Prospects – Turn the heating up to full and open the windows. You have money to burn this Christmas. Drink water. Things are looking goodbad… good.

    • Hanswurst 1.1

      +1. Sums my reaction up perfectly.

      • David Mac 1.1.1

        One man’s horoscope is another man’s roadmap.

        I think I stand to gain more from considering what Ad has to say about our economy than reading page 23 of New Idea.

        The subject generally bores me but I do enjoy considering what has happened in the past and how it relates to what we can expect in the future. Unlike astrology, it would be silly to think there wasn’t a link between the two.

        • greywarshark 1.1.1.1

          Does knowing about the New Idea page mean that you read the horoscope then? Quelle horreur? But then again why should that be worse than looking at chicken entrails or forensically looking at potential thumbprints on accidentally revealed field reports on significant shows at rare mineral search fields?

          • David Mac 1.1.1.1.1

            Ha! I guessed what page the Horoscope appears on. I wondered if there might be people that thought ‘C’mon Mac, the New Idea Horoscope is on page ?’ and bit their tongues.

            I think we all suck up degrees of pulpy trashy culture, it just needs to be a flavour we enjoy. I watch far too many people pretending to rummage through rubbish in other peoples’ barns.

    • Siobhan 1.2

      Ha! Indeed

  2. garibaldi 2

    Not too hot, not too cold. Yet it is hardly just right as in the fairy tale ! Quite the opposite,

  3. David Mac 3

    I think you’ve written a quality piece Ad. A handy window into our domestic and the world’s $ spin.

    I feel we’ve got some way to go until our money behavior matches the lifestyles we aspire to. Interesting that Chinese consumer spending is about to overtake that of the US. It’s a rise in fortunes that goes hand in hand with not being able to see each other through the pollution when kicking a soccer ball to your pal in the park.

    Anytime I think life’s a bit crook in NZ a U-Tube stroll through Homs soon changes my tune.

  4. cleangreen 4

    Time will tell if this rosy picture a just another water painting left out in the summer time but come a wet winter the water-painting will wash away?

  5. ianmac 5

    Great piece Ad.
    I wonder how AI will affect the balance of the workforce and flow on to the economy. It seems that the workforce will drastically diminish. Therefore how will those unemployed be able to live. What will we do with thousands of spare accountants?

    • Ad 5.1

      We used to think of automation as robots. Terminator etc.

      Now, it’s just deep algorithms, replacing whole classes of industry.

      If I get time before Christmas I’ll do a post on it.

    • David Mac 5.2

      We can get on with what matters: People and the planet.

      The jobs that are going are by and large repetitious satisfaction sink-holes. Yes, we’re asking train ticket collectors to step down. But sheesh, after a mere 5000 times I’d be well fed up with saying ‘Tickets Please’. The happy smiling faces would be cool but there will be a few every day that respond to a request for a ticket with something hurtful to say, problematic dickheads.

      Nobody’s career legacy should be the number of times they said ‘Good Morning’ or the number of holes they clicked in bits of paper. We deserve better.

      We depend heavily on Pacifica people for help with our elderly. That doesn’t need to change, but rather than cleaning floors, showering people and peeling potatoes I think it would be great if machines could take care of those roles and our Pacifica friends take on more of a companion role. Playing ukuleles instead of dancing with mops.

    • greywarshark 5.3

      ianmac
      Question: What about the workers? What about the non-workers and pensioners? What about the majority of the world? Who accounts for these when there is no employment for accountants? What is it all for? Some huge madness, some inflated ego to the nth degree?

  6. Siobhan 6

    “It’s interesting in 2017 how little effect political destabilisation in Spain, Australia, Germany, and the United States has had on any of their economies”..unless, of course you factor in the Economy that actual people live in…not just investors and Corporations and Government books thanks to Austerity policies.

    Focusing on Australia

    “According to the Australian Bureau of Statistics, average household debt has almost doubled in the last 12 years”

    (In Australia)Using ‘Part Time’ meaning less then 35 hours per week, those workers classified as part-time, contract or casual swell to over 30% of the entire employed workforce, well above the 10% levels seen in the early 1970s. Especially in lower paid jobs, so its not like a work life balance choice.

    I won’t go on, but just to mention… “UK joins Spain at bottom of EU wage growth league
    A sharp rise in inflation cancels out any gain in pay rises for UK workers”

    I know you do tip the hat to these issues, but these small gems are the ACTUAL economy…and its grim.

    • Ad 6.1

      The sentence started with current “…political destabilization..” and any relationship to economies.

      If I had wanted to discuss austerity, I would have, and it would have taken us to about 10 years ago and to reactions to the GFC. Instead I focussed solely on the year gone and the year ahead. You can check the citations.

  7. greywarshark 7

    Here is Chris Trotter bringing a jaundiced eye onto our present sidduashun.
    http://bowalleyroad.blogspot.co.nz/2017/12/warning-signs-briefings-to-incoming.html

    • Ad 7.1

      Trotter is right that National has left behind a massive set of social deficits, as outlined in the BIMs.

      But Trotter should have reflected that the electorate showed during the election that they were simply unwilling to have a major adjustment to the tax burden and essentially re-form the state to pre-1984.

      He’s never given up on that, and he should.

      He also weakens his argument with no inclusion on the positive points within New Zealand currently. There’s a lot of them. You don’t have to do Ardern’s “relentless positivity”, but without something like it Labour will never gain power, and will never sustain it.

      • greywarshark 7.1.1

        Ad
        Yes good points. Don’t want to be complacent, don’t want to talk down, have to keep looking to find where change is being stifled in favour of austerity.

      • RedBaronCV 7.1.2

        yep National definitely looted the country and handed the proceeds over to the high income earners leaving behind a raft of unfunded issues. The leaky buildings fiasco of the 90’s Nact government is small change compared to the sums we are going to have to find to fix our infrastructure issues caused by excessive immigration & neglect. Change our governance arrangements so there can’t be huge sales of the people’s assets to benefit the few.

        No appetite for taxes? I think there would be plenty of appetite for a high rate of income tax on over say $200,000 to $300,000, resource taxes where our resources are being used to enrich non citizens, taxing non citizens for their use of our country, taxing massive monopoly profits flowing offshore

        • Ad 7.1.2.1

          Let’s see what the Tax Working Group comes up with.

          The terms of reference for that group pretty much rule out anything really substantial from the get-go, but they are pretty keen to effectively raise GST as a consumption tex by raising fuel tax in Auckland: the price of freight and all goods using plastic and all other petroleum derivatives made in Auckland go up massively.

          • RedBaronCV 7.1.2.1.1

            I can see the straight jacket that the “no new taxes and borrowing” have put on the new government but that doesn’t leave many other choices and I’d say that the capacity of a large chunk of the population ( where wage rates are static) to absorb new charges is pretty limited.

            But taxing external players,high incomes & large wealth agglomerations isn’t going to bother too many of the current governments voters.

            • RedBaronCV 7.1.2.1.1.1

              And call it a levy and put on for a few years then make it permanent. Tag it as offsetting Nacts “looting”. I like that word.

              • Ad

                Aye well, that really would require a properly socialist government.

                Maybe a John A. Lee government.

                • RedBaronCV

                  The Piggy Muldoon Government had a top rate of some 60% IIRC . Hardly socialist. And there are some macro studies in the US that redistributive taxes ( equalizing incomes) have touched off ‘long periods of growth” trying to avoid the “growth” word but actually innovation.

                  i think we’d do better channeling Jeeza rather than Tony Blair but suspect we have too many 3rd wayers in the current labour givernment.

          • greywarshark 7.1.2.1.2

            Ad
            Does the Tax Working Group have a direction to look at relieving the tax burdens on beneficiaries’ earnings, and secondary tax, and loss of assistance grants $ for $ meaning? At present it is hard for poor people to get out of the poverty pit, as the rungs on the ladder sink down as they try to climb up.

            It could be good to have an understood policy of seeking infrastructure investment from the wealthy as an offset to having higher taxes introduced.
            Raising money within the country would lessen the flow of interest outside the country, but paid in our own currency, strengthening our own economy and probably with a multiplier effect.

            • Ad 7.1.2.1.2.1

              I sure hope so.

              I’m trying to be positive about that group even though they’ve ruled out so much.

              It was particularly striking to see the Children’s Commissioner come out on Friday stating that the best thing to alleviate child poverty was to index benefits the same way as NZSuper is.

              I think you are dead right about infrastructure investment from the wealthy. The Minister of Transport is very keen on specific infrastructure bonds, as an alternative to rates. Personally I would look at investing that kind of thing myself, and I would want NZSuperFund and my Kiwisaver to do so as well.

              • greywarshark

                Thanks Ad – it will be interesting and heartening to hear about ‘concrete’ thinking likely to lead to definite decisions and the built environment either of buildings or stalwart action-oriented policies and legislation.

  8. One Two 8

    Good on you for having a go, Ad

    Too much to disagree with however, and not enough time or inclination to go into it

    Thanks for the effort though..

    That’s a genuine comment, which also applies to all who post articles to read

  9. Pat 9

    tis a house of cards with all the worlds bankers desperately preventing any vibration or breeze….we know they are unable to do so forever so then the question becomes how long?……another 12 months?…..i wouldn’t bet anything important on them being able to.

    ….and then theres CC

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    No Right TurnBy Idiot/Savant
    7 days ago
  • “Bringing kindness back”
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    No Right TurnBy Idiot/Savant
    7 days ago
  • Press Release: “Fake News” from Auckland City Council CCOs Board Chairs re pay and performance b...
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    Closing the GapBy Tracey Sharp
    7 days ago
  • Ever-So-Slightly Bonkers: Simon Bridges Plays To His Base.
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    7 days ago
  • Asking for food
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    Opposable ThumbBy Unknown
    7 days ago
  • Forty years of change in the jobs Kiwi do and the places they call home
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    SciBlogsBy Guest Author
    7 days ago
  • Protecting Fresh Waterways in Aotearoa/NZ: The Strong Public Health Case
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    SciBlogsBy Public Health Expert
    1 week ago
  • Massey University triggered to rebrand
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    RedlineBy Daphna
    1 week ago
  • Swinson backing calls for a second referendum (again)
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    1 week ago
  • An odious bill
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    No Right TurnBy Idiot/Savant
    1 week ago
  • National is now the party of climate arson
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    No Right TurnBy Idiot/Savant
    1 week ago
  • The environmental footprint of electric versus fossil car
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    SciBlogsBy Guest Author
    1 week ago
  • “Manifest” by Andrew Bird – A Song For The Times.
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    1 week ago
  • Passing the buck
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    No Right TurnBy Idiot/Savant
    1 week ago
  • India a major player in Earth observation satellites
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    SciBlogsBy Duncan Steel
    1 week ago
  • The rot at the top (2).
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    KiwipoliticoBy Pablo
    1 week ago
  • Common misconceptions about “Global Warming”
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    An average kiwiBy admin@averagekiwi.com
    1 week ago
  • A climate of tyranny
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    No Right TurnBy Idiot/Savant
    1 week ago
  • Collins crushes climate
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    SciBlogsBy Robert McLachlan
    1 week ago
  • More disappointment
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    No Right TurnBy Idiot/Savant
    1 week ago
  • What do these mother-child studies really say about fluoridation?
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    1 week ago
  • Losing Labour’s Mills-Tone.
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    1 week ago
  • Speaker: Disability and the Royal Commission of Inquiry into Historical Abuse
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    1 week ago
  • Spain is not a democracy
    No Right TurnBy Idiot/Savant
    1 week ago
  • UK Conservatives hate democracy
    With an unfair voting system, uneven electorates and an un-elected upper house, the UK's "democracy" is barely worthy of the name. But now the government wants to make it worse:The government has been accused of suppressing voters’ rights with the potential disenfranchisement of tens of thousands of people after plans ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • What is wrong with our building industry?
    Back in the 90's and early 2000's, the building industry was building leaky homes which should never have been granted consent. Now it turns out they've been building dodgy office blocks as well:New imaging technology has revealed hundreds of major buildings nationwide have defective or missing concrete or reinforcing steel. ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • Local bodies
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    No Right TurnBy Idiot/Savant
    1 week ago
  • A future of government
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    SciBlogsBy Robert Hickson
    2 weeks ago
  • Speaker: Catalonia, interrupted
    Two years have now gone by since the Friday afternoon when my university-student son and I headed out of our Barcelona flat to a nearby primary school, designated as a polling station for the vote that was to be held the following Sunday: the referendum on Catalonia’s independence from Spain ...
    2 weeks ago
  • Sage Decisions Unwisely Over-Ruled.
    Overruled: The joint decision of Finance Minister, Grant Robertson (Labour) and his Associate Minister, David Parker (Labour) arguably the two most powerful ministers in Jacinda Ardern’s government, to grant OceanaGold the consents which Land Information Minister, Eugenie Sage (Greens) had earlier denied them, offers bitter proof of how hard fighting ...
    2 weeks ago
  • Government may ban voting in effort to get more people to do it
    More than double the number of people who will vote in this year’s local body elections have tried marijuana or urinated somewhere they shouldn’t have. As local elections look set for the lowest turnout in decades, with many regions falling well short of 40%, the Government is exploring a number ...
    The CivilianBy admin
    2 weeks ago
  • Woman: Deleted.
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    RedlineBy Daphna
    2 weeks ago
  • The Hollowest of Men Ride Again… SURPRISE!
    Musings continue apace about “the experienced businessman!” soon to be taking up a National Party MP position. Or to be more accurate, being parachuted into a seat to shut down their former MP Jamie-Lee Ross, who despite his own shortcomings shed at least some more light on the inner workings ...
    exhALANtBy exhalantblog
    2 weeks ago
  • Barbaric
    The Ugandan government wants to murder gay people:Uganda has announced plans to impose the death penalty on homosexuals. The bill, colloquially known as “Kill the Gays” in Uganda, was nullified five years ago on a technicality, but the government said on Thursday it plans to resurrect it within weeks. The ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Is this study legit? 5 questions to ask when reading news stories of medical research
    Hassan Vally, La Trobe University Who doesn’t want to know if drinking that second or third cup of coffee a day will improve your memory, or if sleeping too much increases your risk of a heart attack? We’re invested in staying healthy and many of us are interested in reading ...
    SciBlogsBy Guest Author
    2 weeks ago
  • Fighting Monsters.
    Freedom Of Speech? The Säuberung (cleansing by fire) was the work of the German Student Union which, on 10 May 1933, under the watchful eye of the Nazi Reichminister for Propaganda, Joseph Goebbels, consigned 25,000 books to the flames in a ritual exorcism of “un-German thought”. According to the logic of the ...
    2 weeks ago
  • The next wave of kaupapa Māori politics: its constitutional, it must be.
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    EllipsisterBy Ellipsister
    2 weeks ago
  • Night lights of NZ from orbit
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    SciBlogsBy Duncan Steel
    2 weeks ago
  • Reporters deliver uplifting news to fleeing Japanese residents: they won’t miss any rugby
    New Zealand’s media is doing its part in Japan, reassuring those in the path of the storm that they won’t miss any rugby while away from their flooded homes. New Zealand sports reporters stationed in Japan for the Rugby World Cup have had the rare and heartwarming opportunity to inform ...
    The CivilianBy admin
    2 weeks ago
  • Government in contentious discussions about whether to put surplus on red or black
    Regional Development Minister Shane Jones is the only Cabinet member in favour of putting it all on green. As Finance Minister Grant Robertson finds himself with an enormous $7.5 billion surplus, the Government has begun intense, at times contentious conversations about whether to put the money on red or black at ...
    The CivilianBy admin
    2 weeks ago
  • Jordanian teachers’ successful strike has lessons for here
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    RedlineBy Admin
    2 weeks ago

  • More homes where they are needed
    More houses for homeless New Zealanders are being opened today in Tauranga by Associate Housing Minister Kris Faafoi. Six 2-bedroom quality units are being opened at 878 Cameron Road by Minister Faafoi and Accessible Properties, a local Community Housing Provider (CHP). Accessible Properties now provides more than 1,700 community housing ...
    BeehiveBy beehive.govt.nz
    1 hour ago
  • Minister of Finance and Sport and Recreation to visit Japan and Vietnam
    Finance Minister Grant Robertson departs tomorrow for events and meetings in Japan and Vietnam.  While in Japan, he will discuss economic and fiscal issues including meeting with the Minister of Finance, Taro Aso, and Minister of Economic and Fiscal Policy, Yasutoshi Nishimura. He will meet with the Minister of Education, ...
    BeehiveBy beehive.govt.nz
    15 hours ago
  • Dashboard tracks housing progress
    The Government’s Housing Dashboard released today confirms record numbers of state houses are under construction and shows the Government build programme is gaining momentum.  “After nine years of inaction, and a hands-off attitude from the previous government we’re starting to see things move in the right direction for housing,” says ...
    BeehiveBy beehive.govt.nz
    17 hours ago
  • Ministerial Statement on the International Convention Centre fire
    Mr Speaker, I wish to make a ministerial statement relating to the Auckland fire. The Government is closely monitoring the situation with the fire at the NZ International Convention Centre and is thankful that everyone is now safe. Firefighters are doing an incredible job managing the fire and bringing it ...
    BeehiveBy beehive.govt.nz
    18 hours ago
  • Government invests in Te Reo, environmental data research
    The Government is investing in ambitious research that will digitise Te Reo, grow the low-carbon protein efficient aquaculture industry, help interpret environmental trends, and large data sets says Research, Science and Innovation Minister Megan Woods. The four projects range from teaching Siri to speak Te Reo to crunching large environmental ...
    BeehiveBy beehive.govt.nz
    23 hours ago
  • Government announces next steps as part of a comprehensive plan to fix skills gap
    A new education-to-employment brokerage service to strengthen connections between local employers and schools. Funding for more trades focused ‘speed-dating’ events to connect schools with employers. Promotional campaign to raise profile of vocational education. The Government is taking action to increase the number of young people taking up vocational education and ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Corrections Amendment Bill passes third reading
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    BeehiveBy beehive.govt.nz
    2 days ago
  • Ngāi Tahu CEO appointed to NZ-China Council
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    BeehiveBy beehive.govt.nz
    2 days ago
  • Southern Response claims move to EQC
    Responsibility for processing the small number of Southern Response claims still to be settled will be transferred to EQC by the end of the year. “As claim numbers reduce, it no longer makes sense for the Crown to have two organisations processing the remaining Canterbury claims,” Grant Robertson says. “Since ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Bowel screening starts in Whanganui
    Health Minister David Clark is encouraging Whanganui residents to take up the opportunity for free bowel screening, which can detect cancer early when it’s easier to treat.   Over the next two years 12,000 Whanganui locals, aged 60 to 74 will be invited to participate in the National Bowel Screening ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Pacific Peoples Minister to attend Our Ocean Conference in Norway
    Minister for Pacific Peoples Aupito William Sio, heads to Oslo today to represent New Zealand at the sixth Our Ocean Conference, which is being hosted by the Norwegian Government from the 23-24 October. “The Our Ocean Conference mobilises real action on issues like marine plastic pollution and the impacts of ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Government announces 27 percent increase in Trades Academy places
    Two secondary-school initiatives are being expanded as part of the Government’s plan to see more young New Zealanders take up a trade to help close the skills gap.   This includes the largest single increase in Trades Academy places in recent years. Prime Minister Jacinda Ardern and Education Minister Chris ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Speech to the New Zealand Institute of International Affairs, Pacific Futures Conference: Connection...
    Session 4: Pacific Connectivity – Youth, Media and New Opportunities   Kia ora tatou katoa and Warm Pacific greetings to one and all. Representatives of Tainui, the local people of the land, or manawhenua – the indigenous peoples of this area – have welcomed you this morning in accordance with ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Methane reducing cattle feed one step closer
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    BeehiveBy beehive.govt.nz
    6 days ago
  • Bill to refresh superannuation system passes first reading
    Social Development Minister Carmel Sepuloni has welcomed the first reading of the New Zealand Superannuation and Veteran’s Pension Legislation Amendment Bill. “Every New Zealander has a stake in New Zealand Superannuation and Veteran’s Pension,” says Carmel Sepuloni. “They are our most common form of social assistance – nearly 800,000 New ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Government announces next steps in fight against measles
    Babies in Auckland aged six months and over can receive a free vaccination and children will all have access to vaccines, Associate Minister of Health Julie Anne Genter announced today at Papatoetoe High School.   The move comes as part of Government efforts to step up the fight against measles. ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Speech to the New Zealand Institute of International Affairs, Pacific Futures: Connections, Identity...
    ***Check against delivery*** Good morning. It is a pleasure to be here, and to have the honour of opening this important conference on behalf of the New Zealand Institute of International Affairs. Let us take the opportunity to acknowledge all the people who have helped make today possible, including our special ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Police trial new response to high risk events
    Police Minister Stuart Nash says the safety of frontline officers and members of the public will be the focus of a new trial of specialist Police response teams in three of our largest urban centres. Police have this morning released details of an initiative to be trialled in Counties Manukau, ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • New awards celebrate fisheries sustainability
    The Minister of Fisheries is calling for entries for a new public award to celebrate innovation in our seafood sector. “I have established the Seafood Sustainability Awards to recognise and celebrate those throughout industry, tangata whenua and communities who demonstrate outstanding dedication and innovation towards the sustainability of New Zealand’s ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • More progress for women and we can do more
    Minister for Women Julie Anne Genter welcomes leaders in the private sector taking action on closing their gender pay gaps to ensure a fairer workplace for all New Zealanders. Ms Genter today launched a new report, Addressing the gender pay gap and driving women’s representation in senior leadership, from the Champions for ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Proposals to curb environmental damage help our coasts and the oceans
    Government Ministers today welcomed the release of a marine environment report highlighting the four key issues affecting our oceans, estuaries and coastlines.  The release underlines the importance of government proposals to combat climate pollution, ensure clean freshwater, protect biodiversity, make land use more sustainable, and reduce waste and plastic.    Environment ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • New mental health facility for Waikato
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    BeehiveBy beehive.govt.nz
    7 days ago
  • 500 new te reo Māori champions in our classrooms
    The Government is making progress on its goal to integrate te reo Māori into education by 2025, with over 500 teachers and support staff already graduating from Te Ahu o te Reo Māori,  Associate Education Minister Kelvin Davis announced today. Kelvin Davis made the announcement at an awards ceremony in Waikanae today, for ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Minister James Shaw welcomes 2018 Census first release
    Statistics Minister James Shaw has welcomed the first release of 2018 Census data. The first release of data today, 23 September, includes key data on population, regional growth, the number of homes and the size of different ethnic groups in New Zealand. Data from the 2018 Census will support the ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Driving transparency, ethics and accountability in government use of algorithms
    Minister for Statistics James Shaw today announced a public consultation on a proposed algorithm charter for government agencies. The charter has been developed by the Government Chief Data Steward in response to growing calls for more transparency in government use of data. Computer algorithms – procedures or formulas for solving ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • New Zealand and the Netherlands working together on climate change
    Agriculture Minister Damien O’Connor, Climate Change Minister James Shaw and visiting Dutch Prime Minister Mark Rutte co-hosted a business roundtable in Auckland this morning focused on working together to address climate change.  “The Netherlands is an important partner for New Zealand. We share a strong agricultural history. Sustainable agribusiness and ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Protecting fairness for workers and businesses
    The Government is taking action to build an inclusive economy where more of us receive our fair share at work and businesses can compete on great products and services, not undercutting wages and conditions, Immigration and Workplace Relations and Safety Minister Iain Lees-Galloway says. Two consultations launched today seek feedback ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Indigenous Freshwater Fish Bill Passes
    The future for New Zealand’s threatened indigenous freshwater fish looks brighter with the passing of the Conservation (Indigenous Freshwater Fish) Amendment Bill in Parliament today said Minister of Conservation, Eugenie Sage. “Until now, our freshwater fish legislation has been 20 years out of date. We have lacked effective tools to ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Kiwis to take part in world’s biggest earthquake drill
    At 1.30pm tomorrow, hundreds of thousands of Kiwis will join about 65 million people around the globe in ShakeOut, the world’s biggest earthquake drill. The annual drill is to remind people of the right action to take during an earthquake which is to Drop, Cover, Hold, and to practise their ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Rising wages and low inflation supporting Kiwis
    Kiwis are benefiting from higher wage growth and low inflation under the Coalition Government. Stats NZ data out today shows the rise in the cost of living remains low, as annual Consumers Price Index (CPI) inflation fell to 1.5% in September from 1.7% in June. “The low inflation comes as ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • NZ economy strong amid global headwinds
    New Zealand’s economic strength and resilience has been recognised in a major update on the state of the global economy. The IMF’s latest World Economic Outlook released overnight shows a reduced global growth forecast over the next two years as issues like the US-China trade war and Brexit take hold. ...
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    1 week ago
  • Keeping New Zealanders safer with better counter-terrorism laws
    Justice Minister Andrew Little has today introduced a new Bill to prevent terrorism and support the de-radicalisation of New Zealanders returning from overseas. The Terrorism Suppression (Control Orders) Bill gives the New Zealand Police the ability to apply to the High Court to impose control orders on New Zealanders who ...
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    1 week ago
  • Improved succession and dispute resolution core of Ture Whenua changes
    A Bill that proposes targeted changes to simplify the processes for Māori land owners when engaging with the Māori Land Court has had its First Reading today. “The approach taken by the Government is to ensure that the protection of Māori land remains a priority as we seek to improve ...
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  • Speech to CTU Biennial Conference
    Let me first thank all the new unionists and members in the room. There is nothing more important to improving people’s working lives than people making the decision to care, to get on board and help, to take up the reins and get involved. Congratulations to you. You bring the ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Minister ensures continued Whenuapai flight operations
    Minister of Defence Ron Mark has signed a certificate exempting the activity of engine testing at Whenuapai Airbase from the Resource Management Act 1991. The Act gives the Minister of Defence the power to exempt activities for the purposes of national security.  The certificate will mean the recent Environment Court ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • NZ joins Coalition of Finance Ministers for Climate Action
    Finance Minister Grant Robertson has announced New Zealand will join the Coalition of Finance Ministers for Climate Action while attending APEC meetings in Chile. The objective of the 39 member Coalition is to share information and promote action to tackle climate change. It was formed in April this year, in ...
    BeehiveBy beehive.govt.nz
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  • Feedback Sought – Section 71 – Lyttelton Parking
    Feedback sought– Lyttelton commercial zone parking  The Associate Minister for Greater Christchurch Regeneration, Poto Williams, is seeking feedback on a proposal to remove on-site car parking requirements for new developments in the Lyttelton commercial zone.  The proposal, by Christchurch City Council, asks that powers under section 71 of the Greater ...
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    1 week ago
  • Feedback Sought – Section 71 – Hagley Oval
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    BeehiveBy beehive.govt.nz
    1 week ago
  • CTU speech – DPM
    Ladies and gentlemen, NZCTU President Richard Wagstaff, members of respective unions – thank you for the invitation to speak to you today. This might be preaching to the choir, but the importance of trade unions in New Zealand’s historical arch is difficult to understate. And it is my belief that ...
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    1 week ago
  • Police Association Annual Conference
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    BeehiveBy beehive.govt.nz
    1 week ago