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English puts us on a slippery slope to Greece

Written By: - Date published: 10:37 am, November 15th, 2012 - 31 comments
Categories: bill english, Economy - Tags:

The amount we have to borrow from the rest of the world – because the high dollar is killing our exporters and allowing importers to undercut our domestic businesses – is due to hit $17b a year by 2016. Our current account deficit is already the 2nd largest in the developed world and will be hitting disastrous levels. But English says ‘don’t worry, if that happens, our economy will just collapse, Greece-style’.

Now, in fairness, English disagrees with all the forecasters, who say the current account deficit is heading to the 7% of GDP danger zone. His disagreement is based on… optimism:

Mr English yesterday told Parliament’s finance and expenditure select committee he believed the current account deficit – the balance between the country’s earnings and expenditure – would peak at 5 per cent or 6 per cent of gross domestic product (GDP).Forecasts suggest it may go as high as 8 per cent. In September, the deficit widened to $10.1 billion, or 4.9 per cent of GDP.

Labour MP Clayton Cosgrove asked what Mr English knew that the International Monetary Fund, Reserve Bank and Treasury did not. “What do you base your prediction on? Evidence, data, crystal ball, best guess?”

Mr English said he was more optimistic than other forecasters, who expected New Zealanders to return to their high-borrowing ways.

I don’t think English himself is a forecaster, by the way. He’s not running forecast models personally, so what he says are guesses, not forecasts.

But what chills the blood is English’s justification for why the current account deficit won’t/can’t get to disaster levels:

“I don’t think the world will let us run 7 and 8 per cent current account deficits. I think you would get the kind of sharp adjustments that the textbooks tell you would happen in the exchange rate or interest rates. I think the world will punish us more quickly if it gets out of line.”

So, it can’t happen because, if it did happen, our exchange rate would suddenly plunge and interest rates would go through the roof. What English is saying is that we’re on the path to a Greece-style crisis but, for some reason, the markets won’t let that happen.

I guess we had all better join in praying to the market gods, because it’s clear that English doesn’t view it as his job to do anything about the fact we’re barreling at top speed towards a cliff.

(while I’ve been writing this, English has been on Morning Report shrugging his shoulders about the likelihood the economy is contracting and saying that there are no conditions which would make National change its failed economic policies. They really just don’t give a damn – as long as there’s public wealth for them and their buddies to suckle on, they don’t care)

31 comments on “English puts us on a slippery slope to Greece”

  1. Dr Terry 1

    Even prayer might be too late to save us! The point is “will the country ever recover from what is presently being done to it?”

    • Colonial Viper 1.1

      This country has been through worse in its history and yes we will fight our way back against these Tories.

      • aerobubble 1.1.1

        How can a economy collapse when our banks are mostly foreigned owned, when the considerable debt are owned by the private sector to foreigners for their homes, what English means is if the economy collapses, the bubble bust will see foreigners lose huge wealth as kiwi families foreclose their businesses and mortgage sale their homes. Why would the foreign owners want that kind of pain on themselves and kiwis? Well, if they cannot themselves sustain their own debts….

        The great re-evaluation has begun, in order to walk you must first create imbalance, similarly a economy to progress there must first be distortion. Just as a runner who distorts to the extreme falls over, so our western economy has been led to it hitting the wall. Other runners, some who will have fallen over, will rise and take to the race again, but NZ will be last because its still believes that it can wobble and never fall over.

        And you can see why this false belief has taken hold, its not like we have much of an economy anyway, given are predilection for low fruit, primary exporting and short term capital gain farming.

        If we do fall it won’t hurt like the US falling, but therein lies the rub, the US like Japan are printing money, swamping the rich, wiping the smug smirks off their face, and reviving capitalism. Because that is what this is, the capitalist purge, when too many made too much worthless value and think they own the world, need the culling to overt the fiscal peril they have created.

        Why anyone with a brain cannot see the link between markets and the environment, climate, pollution, sprawling waste, is unfathomable to me, simple fact is as smart people audit the world they realize that the energy is more expensive, the costs to cleaning up after pollution is prohibitive, the potential returns of our existing car lifestyles put red all over the books, and are causing the markets to depreciate and write down huge accrued value in portfolios. If anything the low savings for retirement might actually be a godsend since it will force the older retiring boomers to vote for left wing parties who are inclusive and insure a social safety net that has some dignity.

    • r0b 2.1

      Ummm – fisiani – that isn’t evidence of how well NZ is doing at all. It is evidence that even in the most benign possible environment for our businesses – they still can’t make it!

      Conclusion: our business “leaders” are useless, and the invisible hand of the market is never going to rescue NZ. Time for a government to step up…

      • aerobubble 2.1.1

        If Fonterra could pasteurize its milk in china it would.

        • rosy 2.1.1.1

          Well it looks like China might try to do the next best thing (for China)

          Fonterra said it had been talking with a large number of institutional investors about its upcoming Fonterra Shareholders Fund offer but that it was impossible to know what their intentions might be until the bookbuild process for the offer was complete.

          The cooperative earlier declined to comment on a report out of Beijing that China Investment Corp was seeking a stake in the Fonterra Shareholders Fund.

          The Wall Street Journal said China Investment Corp was in talks with Fonterra about investing in the fund. The Journal said the Chinese sovereign-wealth fund sought overseas investments tied to China’s growth prospects.

    • Lightly 2.2

      it’s long been the case that that NZ has a loose regulatory system for business. That’s good but not an unalloyed good.

    • muzza 2.3

      Fiss – Great stuff champ, really clever!

      • fisiani 2.3.1

        You do not realise how culturally insensitive it is to call me by the wrong name. I forgive you.

  2. Zaphod Beeblebrox 3

    Interesting listening to Paul Keating talking last night (on ABC TV), where he was discussing the fact that the mobility of labour, capital and technology meant that GDP growth was moving back to where population exists. This he says means that India, China and Indonesia in particular would be the world largest economies in 20 years.

    His message to Aus and NZ- get engaged with Indonesia, India and China or see your GDP mirror your population!

  3. Herodotus 4

    Look what happened previously regarding our current accout James. Pity it was not an issue when “We” were in power and did not warrent any policy to correct. The only adjustment was a natural resposne to the GFC
    What English is saying is that we’re on the path to a Greece-style crisis- No we were on that in 2004 under Cullen????
    http://www.rbnz.govt.nz/keygraphs/Fig6.html
    “Our problem is one of success.” from English

  4. BLiP 5

    .

    If “the world” does decide to “punish” us with “sharp adjustments” then so should the New Zealand public do to Blinglish. Dreams are free, of course. No doubt English has a retirement job lined up for just when the shit hits the fan . . . Treasurer of the Planet Key Golf Club, perhaps.

  5. muzza 6

    Who are we borrowing from and what are the terms again?

    Bill really has had a moment of lucid honesty with his comment though – Translation – If NZ gets out of line, those who have owned us (on the low) for quite some time, are going to use their puppets (IMF, WTO etc), and some jiggery pokery magic, to put NZ down where they want it, and will then be taking off with what the NACT have not been able to hock off to them already!

    NZ has been in serious trouble, this is simply the comical musings of completely souled out individual, who has opening displayed his dishonesty, and eagerness to steal from the country for his own gains!

    Apply the same to 99% of those running our parliament, and the systems which govern us. See my post in open mike to understand the types of “arm twisting” I have referred to in various posts.

    The sell out, is the price, the costs to NZ’s people, immeasureable!

  6. Steve Wrathall 7

    Greece eh?
    -no requirement for anyone to actually work
    -untouchable public sector unions
    -Bloated public payrolls (1/3 of Greeks work for the govt)
    – massive mis-investment in public transport that then requires billions more in subsidies
    – 7 weeks of holidays, then more if you get sick during your holidays.

    The fact that this socialist paradise is ending in tears is unsurprising. But that doesn’t stop Labour/Greens from proposing a similar toxic recipe here, does it?

    • framu 7.1

      wrong

      as usual steve, your a tad simplistic and rely on slogans and tub thumping rather than analysis

    • aerobubble 7.2

      Greece is in the trouble it is because its elite would not pay their fair share of taxes. The question needs to be asked why capital gain free of tax is allowed to distort our economy and load kiwis up with debt (to foreigners). Greece (taxpayers), like Iceland (bankers) and Ireland (?) are now being joined by Portugal, Spain and Italy.

    • JonL 7.3

      You really do live in cloud cuckoo land, Steve. Simplistic rote bullshit without regard to the facts!
      I suppose you trot out the standard line about how everyone on the DPB is a solo 16 yo mum producing sprogs to support a lifestyle, and everyone on unemployment, is a lazy, useless scumbag, as well!

  7. Adrian 8

    We are about to be saved though with news that the Chinese Government wants to buy the Fonterra fund . Stupid bloody cow cockys!

    • aerobubble 8.1

      If I where the Chinese, I’d build a fleet of ships to dock at NZ ports and take the raw milk on board and process it on the way to China, a small Thorium nuclear power plant who be just the trick.

      • aerobubble 8.1.1

        Just if I were China I’d be using Chinese wealth to dislodge asteriods in the belt between Jupitor and Mars and crash them into Mars, grow the gravity, introduce water, to Mars. Hell if I were Japan I’d have a base remote non-human on Phobos and Demios by now.

        • Draco T Bastard 8.1.1.1

          Just if I were China I’d be using Chinese wealth to dislodge asteriods in the belt between Jupitor and Mars and crash them into Mars, grow the gravity, introduce water, to Mars.

          Two things
          1.) There isn’t enough mass in the asteroid belt to properly Terra-form Mars
          2.) There is already water on Mars – enough to give it some serious oceans

          • aerobubble 8.1.1.1.1

            But… that’s where you’d start, with the asteroid belt.

            Second, it would be fun to watch them smash into the planet.

            As for water, I thought that co2 and methane plus life would turn into water and organisms.

            Anyway asteriods are not mostly water are they? the basic problem is greenhouse effect,
            mars doesn’t have a thick enough atmosphere and gravity to retain it.

            • Draco T Bastard 8.1.1.1.1.1

              But… that’s where you’d start, with the asteroid belt.

              You could start there but I’m thinking the Kuiper Belt may be a little too far to lug mass in from. Of course, some of those object are already on the way in so I suppose we’d just need to redirect them.

              the basic problem is greenhouse effect, mars doesn’t have a thick enough atmosphere and gravity to retain it.

              Mars used to have a thick enough atmosphere but it’s been depleted through the solar wind removing it due to Mars not having an magnetosphere. The lack of magnetosphere might have something to do with lack of mass as Mars’ is only partially liquid.

              • Exactly DTB, no iron/heavier metal core to “Drive” the planet.

                Adding mass to it’s circumference would slow it’s rotation.

              • Draco T Bastard

                The lack of magnetosphere might have something to do with lack of mass as Mars’ core is only partially fluid.

                Minor correction to improve readability.

        • PlanetOrphan 8.1.1.2

          Endanger the entire solar system would ya, I think I’d shoot ya for that M8!

          • aerobubble 8.1.1.2.1

            How would it endanger the solar system to remove asteroids already threaten Earth, which dislodge over time anyway and could fly into Earth. Just doing the feasibility study (the stage we are at) would produce information about how to alter the orbits of asteroids and so SAVE the Earth from such disasters. Why do you hate the Earth so much? The people of Earth? The children and families of Earth?

            • PlanetOrphan 8.1.1.2.1.1

              Increase the Gravity of Mars ?????

              You don’t know anything about solar orbits do ya bud ?

              And most of the astroid belt is not water, and DTB’s comment that it has enough water are wrong, it’s all been leached by lack of gravity as you said.

              And the asteroids do not threaten earth , if there ever was a meteorite that would approach earth, it happened a long time ago.

              It would take an extra solar system commet to dislodge any, which again would’ve happened a long time before now.

              • Draco T Bastard

                You don’t know anything about solar orbits do ya bud ?

                I grabbed an orbital simulator off the net and let it run for a few million years with Mars at double Earth mass and it didn’t alter any orbits significantly enough to worry about.

                And most of the astroid belt is not water, and DTB’s comment that it has enough water are wrong, it’s all been leached by lack of gravity as you said.

                Wrong, go read the links I provided.

                And the asteroids do not threaten earth , if there ever was a meteorite that would approach earth, it happened a long time ago.

                Wrong again. There are quite literally billions of asteroids and we don’t know the orbits of most of them. Quite a few of the ones we do know about do intersect with Earth’s orbit though.

                • aerobubble

                  Do our progeny a favor or two, turn Mars into a second Earth (as much as possible) ready for when the sun grows hotter and Earth is unlivable, and remove the threat of a Dinosaur asteroid end for humankind. The technology learnt, the lessons and experience may actually be the pathway to the stars, whereas sitting on our backsides wasting the one time use nonrenewable to beat up fantasy characters in a virtual world….

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    RedlineBy Admin
    7 days ago
  • We are not America
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    No Right TurnBy Idiot/Savant
    7 days ago
  • When will we know the lockdown is working?
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    SciBlogsBy Siouxsie Wiles
    7 days ago
  • Lock Down: Day 1
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    Frankly SpeakingBy Frank Macskasy
    7 days ago
  • A Compelling Recollection.
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    7 days ago
  • The Warehouse – where everyone gets a virus
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    Frankly SpeakingBy Frank Macskasy
    7 days ago
  • Aggressive action to address climate change could save the world $145 trillion
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    1 week ago
  • After the Pandemic
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    SciBlogsBy Robert Hickson
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    RedlineBy Admin
    1 week ago
  • Using privacy law to prevent the death penalty
    In 2018, El Shafee Elsheikh and Alexanda Kotey - two British citizens who had purportedly been stripped of their citizenship by the British government - were captured while fighting for Isis in Syria. The British government then conspired to hand them over to the US, and agreed to provide evidence ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • It’s Time For Disaster Socialism.
    Transformers: The disaster of the Great Depression was transformed into a new and fairer society by the democratic socialism of the First Labour Government. The disaster of the Covid-19 Pandemic offers a similar transformative possibility to the Labour-NZ First-Green Government. Seize the time, Jacinda! You will never have a better ...
    1 week ago
  • Skeptical Science New Research for Week #12, 2020
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  • Avoidable hospitalisations: Helping our health system get through COVID-19
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    1 week ago
  • Raise the Bar: 10 questions to ask your employer proposing redundancy
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    PosseBy chloeanneking
    1 week ago
  • An equitable way to support business
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    No Right TurnBy Idiot/Savant
    1 week ago
  • Hard News: Together Alone
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    1 week ago
  • Why timing is everything: ‘A time to refrain from embracing’ starts today
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    PunditBy Tim Watkin
    1 week ago
  • Dealing with the Covid-19 Tsunami.
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    PunditBy Brian Easton
    1 week ago
  • What about renters?
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    No Right TurnBy Idiot/Savant
    1 week ago
  • Living within our means.
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    KiwipoliticoBy Pablo
    1 week ago
  • Transparency and the pandemic
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    No Right TurnBy Idiot/Savant
    1 week ago
  • ‘Overjoyed’: a leading health expert on New Zealand’s coronavirus shutdown, and the challengin...
    Michael Baker, University of Otago Overjoyed. That’s not a word epidemiologists normally use, but that’s how I felt after hearing Prime Minister Jacinda Ardern’s announcement about New Zealand’s COVID-19 shutdown of everything except essential services for at least four weeks from midnight on Wednesday. More than anything, I just ...
    SciBlogsBy Public Health Expert
    1 week ago
  • One way to solve the housing crisis
    How much homelessness is caused by house hoarding? We're about to find out. The pandemic has destroyed tourism, which means that house hoarders who put their hoarded properties up as short-term tourist rentals are now offering them on the ordinary rental market:Property investors are pulling properties from Airbnb to offer ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • The pros and cons of planting trees to address global warming
    This is a re-post from Yale Climate Connections by Bruce Lieberman It seems like such a simple, straightforward, empowering idea: plant trees – a lot of trees – all over the world, and watch the planet’s temperature fall. Who doesn’t love a tree or two, even far more – the right ...
    1 week ago
  • Not a grand coalition, but a government of national salvation
    According to Newshub, Simon Bridges is open to joining a “grand coalition” with Labour as we hunker down to go into a month long lockdown. The idea is sound. Before now, the role of the opposition was to scrutinise and oppose. In the context of what almost amounts to a ...
    PunditBy Liam Hehir
    1 week ago
  • Raise the Bar: hospitality workers & wage subsidy entitlements
    Kia ora my name is Chloe Ann-King* and I am the founder of Raise the Bar, a campaign and non-profit that gives free legal aid, advocacy and tautoko to hospitality workers in Aotearoa. Right now all over our country hospo workers are being fired at will, having shifts cut or ...
    PosseBy chloeanneking
    2 weeks ago
  • Lifting our game against COVID-19
    We need to be lifting our game against COVID-19. You and I need to help those working to prevent the spread of COVID-19 while they’re trying to lift the testing and treatment efforts. We don’t want to be playing this game running backwards. Best to play it solidly forward, from ...
    SciBlogsBy Grant Jacobs
    2 weeks ago
  • The maths and ethics of minimising COVID-19 deaths in NZ
    Prof Tony Blakely, Prof Michael Baker, and Prof Nick Wilson The NZ Government must do more to clearly articulate its COVID-19 strategy: eradication or ‘flattening the curve’ mitigation. But to do so means understanding the maths and ethics of both these strategies. In this blog, we adapt our work for ...
    SciBlogsBy Public Health Expert
    2 weeks ago

  • Butchers now allowed to process pork
    Changes have been made to allow butchers to process pork, only for supply to supermarkets or other processors or retailers that are open, Agriculture Minister Damien O’Connor has announced. “We carefully weighed the risk of allowing butchers to open their shops for retail customers, but the risk of spreading COVID-19 ...
    BeehiveBy beehive.govt.nz
    12 hours ago
  • Essential workers leave scheme established
    Essential workers who take leave from work to comply with public health guidance are being supported with a leave scheme to ensure they will continue to receive income, say the Minister of Workplace Relations and Safety Iain Lees-Galloway and Minister for Social Development, Carmel Sepuloni. A number of essential businesses ...
    BeehiveBy beehive.govt.nz
    14 hours ago
  • Govt WhatsApp helps share COVID-19 information
    A Government WhatsApp channel has been launched to help make information more easily accessible and shareable in the fight against COVID-19. Govt.NZ, which is free to use on any mobile device, will carry information and news for the public, businesses, healthcare providers, not for profits and local government. It can ...
    BeehiveBy beehive.govt.nz
    14 hours ago
  • Managed departure plan for stranded foreign nationals enables safe, orderly exit
    The Government has announced a plan to enable the safe, orderly exit of tens of thousands of stranded foreign nationals from New Zealand during the current COVID-19 Alert Level 4 restrictions, Deputy Prime Minister and Foreign Minister Winston Peters has said. “When we moved into lockdown a week ago, the ...
    BeehiveBy beehive.govt.nz
    14 hours ago
  • Government delivers COVID-19 support to GPs and Pharmacies
    Health Minister Dr David Clark says the Government is delivering on its commitment to support general practice doctors and nurses, and pharmacies on the front-line of our fight against COVID-19. "For us to overcome COVID-19, we need community health services such as general practice and community pharmacy to step up ...
    BeehiveBy beehive.govt.nz
    14 hours ago
  • Susan Thomas the new Chief High Court Judge
    Justice Susan Thomas has been appointed Chief High Court Judge, Attorney-General David Parker announced today.  She replaces Justice Geoffrey Venning who has resigned from the position.   David Parker paid tribute to Justice Venning, who he said had stewarded the High Court very capably over the last five years.   “On behalf ...
    BeehiveBy beehive.govt.nz
    17 hours ago
  • Business Finance Guarantee – applications open
    Businesses can start applying to their banks for loans under the Business Finance Guarantee Scheme set up to support the New Zealand economy during the COVID-19 pandemic. “We’re moving quickly to protect New Zealand businesses, jobs and the economy during this unprecedented global economic shock,” Finance Minister Grant Robertson said. ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Work starts on ways to fast-track consents to boost recovery from Covid-19 downturn
    Work is underway looking at measures to speed up consents for development and infrastructure projects during the recovery from COVID 19, to provide jobs and stimulate our economy.  Environment Minister David Parker said the COVID-19 pandemic is a serious global crisis that will have a wide ranging and lasting impact ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Advance payments to support contractors
    Advance payments will be made to transport construction industry contractors to retain the workforce and ensure it is ready to quickly gear up to build projects which will be vital to New Zealand’s COVID-19 economic recovery, Transport Minister Phil Twyford announced today. He said keeping the workforce required to build ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Government seeks infrastructure projects
    The Government has tasked a group of industry leaders to seek out infrastructure projects that are ready to start as soon as the construction industry returns to normal to reduce the economic impact of the COVID-19 pandemic, Economic Development Minister Phil Twyford and Infrastructure Minister Shane Jones say. The Infrastructure ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Health system scaled up to prepare for COVID-19
    Work to scale up the health system in preparation for COVID-19 was today outlined by Health Minister David Clark, as he reported back to the new Epidemic Response Committee. “We are well placed to contain the spread of COVID-19. We have taken early and decisive action at our borders, and ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Essential media COVID-19 guidelines refined
    The Government is refining its COVID-19 essential business guidance to include the distribution of news publications for communities which are hard to reach. The Minister of Broadcasting, Communications and Digital Media, Kris Faafoi, said the move was in recognition of the importance for New Zealanders who might be harder to ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Supermarkets able to open on Easter Sunday
    The Government is ensuring supermarkets can open on Easter Sunday so we can buy groceries, but stay closed on Good Friday allowing workers to take a break. This provides a balanced approach and ensures we avoid large queues that two days closure may cause. “Supermarkets will be able to open ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • New Zealand defence personnel conclude mission at Taji
    Following the successful conclusion of the Building Partner Capacity (BPC) mission at Taji, New Zealand defence personnel are returning to New Zealand from Iraq, in accordance with the Cabinet decision made in June 2019, Foreign Affairs Minister Winston Peters and Defence Minister Ron Mark announced today. “New Zealand is very ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • State of National Emergency extended
    The State of National Emergency to help stop the spread of COVID-19 has been extended for a further seven days, Minister of Civil Defence Peeni Henare said. The initial declaration on March 25 lasted seven days and can be extended as many times as necessary. “Since we went into isolation ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Strong Govt books support ‘go hard, go early’ response
    New Zealand’s ability to go hard and go early in the fight against COVID-19 has been underpinned by strong Government finances and the growing economy heading into this global pandemic, Finance Minister Grant Robertson says. The Treasury today released the Crown financial statements for the eight months to the end ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Christchurch Hospital Hagley ICU to open to support COVID-19 response
    Health Minister Dr David Clark says 36 new intensive care beds at Christchurch Hospital’s new Hagley building are being fast tracked so they are available for treatment of COVID-19 patients.   The Ministry of Health is working with contractor CPB and Canterbury DHB to enable access to the hospital’s ICU, ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Government supports Air NZ freight flights
    The Government has fast-tracked up to $1 million to help Air New Zealand move urgent freight to and from New Zealand, with the first flight to Shanghai leaving tonight, Transport Minister Phil Twyford announced today. Phil Twyford says it’s crucial that trade in vital goods such as medical supplies and ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Tariff concessions on COVID-19 related products
    New Zealand will temporarily remove tariffs on all medical and hygiene imports needed for the COVID-19 response. Trade and Export Growth Minister David Parker and Commerce and Consumer Affairs Minister Kris Faafoi said today that the New Zealand Customs Service will apply tariff concessions to all diagnostic reagents and testing ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Clarification of modification to wage subsidy scheme
    Minister of Finance Grant Robertson has clarified that the changes to the wage subsidy scheme announced yesterday mean that employers should be passing on the full subsidy to workers, except in the case where the person’s normal income is less than the level of the subsidy. “We still want employers ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Face masks flowing to DHBs
    Medical face masks from the national reserve supply are now being distributed to District Health Boards, while at the same time local production is being ramped up. Yesterday more than 640,000 masks were sent to DHBS – that is an immediate two week supply, with more to follow in coming ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • COVID-19: Further steps to protect New Zealanders’ jobs
    The Government has made modifications to the wage subsidy scheme to ensure people don’t lose their jobs during the national lockdown. These changes will soften the impact of COVID-19 on workers, families and businesses, and position them to exit the lockdown and look to recovery, Finance Minister Grant Robertson says. ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Tax relief for Mycoplasma Bovis farmers
    Farmers whose herds were culled in response to the outbreak of Mycoplasma bovis will be able to minimise the tax treatment of their income in some circumstances. Revenue Minister Stuart Nash says Cabinet has agreed to change the law. It means farmers may be eligible to spread their income over ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • $27 million for NGOs and community groups to continue providing essential services
    A $27 million dollar package, effective immediately, is being provided to social sector services and community groups to ensure they can continue to provide essential support to communities as we stay at home as a nation to stop the spread of COVID-19, Minister for Social Development Carmel Sepuloni announced. “At ...
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    1 week ago
  • Statement on guilty plea of March 15 terrorist
    “The guilty plea today will provide some relief to the many people whose lives were shattered by what happened on March 15,” Prime Minister Jacinda Ardern said. “These guilty pleas and conviction bring accountability for what happened and also save the families who lost loved ones, those who were injured, ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • COVID-19 updates
    The Prime Minister is holding daily press conferences to update New Zealanders on the Government's response to COVID-19. Links to videos and transcripts of these updates below. These transcripts also include All of Government press conferences led by Director Ministry of Health's Director-General of Health Dr Ashley Bloomfield. 25 March: Live update from the Prime ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Police numbers break through 10,000 mark
    Frontline Police numbers have broken through the 10,000 mark for the first time in history as officers step forward to keep the community safe during the COVID19 lockdown. “Two Police graduations in Auckland and Wellington in the past week have been conducted in unprecedented circumstances,” Police Minister Stuart Nash said. ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Urgent tax measures for economic recovery
    Urgent legislation has been passed to support the package of economic and social measures needed to recover from the impact of the coronavirus outbreak. “The COVID-19 Response (Taxation and Social Assistance Urgent Measures) Bill will cushion New Zealanders from the worst economic impacts of the COVID-19 outbreak,” said Revenue Minister ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Further support for farmers and growers as drought persists
    From tomorrow, Government support for farmers and growers affected by drought will be expanded and extended across the country, with access to Rural Assistance Payments (RAPS) available throughout the North Island, parts of the South Island and the Chatham Islands, Social Development Minister Carmel Sepuloni announced. “These challenging conditions have ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • COVID-19: Temporary changes to Education Act
    Parliament has passed amendments to legislation that give the Secretary of Education stronger powers to act in the fight to limit the spread of COVID-19, Education Minister Chris Hipkins said today. “They are part of a suite of changes passed under the COVID-19 Response (Urgent Management Measures) Legislation Bill,” Chris ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Canada, Australia, Chile, Brunei and Myanmar join NZ and Singapore in committing to keeping supply a...
    Canada, Australia, Chile, Brunei and Myanmar have joined forces with New Zealand and Singapore by committing to keep supply chains open and remove any existing trade restrictive measures on essential goods, especially medical supplies, in the face of the Covid-19 crisis.  Trade and Export Growth Minister David Parker today welcomed ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • COVID-19: Rent increase freeze and more protection for tenants
    Immediate freeze on rent increases Tenancies will not be terminated during the lock-down period, unless the parties agree, or in limited circumstances Tenants who had previously given notice can stay in their if they need to stay in the tenancy during the lock-down period Tenants will still be able to ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Working together to protect businesses and workers
    As New Zealand unites to lock-down in the fight against COVID-19, the Finance Minister is urging all businesses and workers to stay connected over the next four weeks. “We understand the extreme pressure many businesses are under right now. I know most business owners think of their workers as family ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • State of National Emergency declared to fight COVID-19
    A State of National Emergency has been declared across the country as the Government pulls out all the stops to curtail the spread of COVID-19. “Today we put in place our country’s second ever State of National Emergency as we fight a global pandemic, save New Zealanders’ lives and prevent ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Prime Minister’s statement on State of National Emergency and Epidemic Notice
    Mr Speaker I wish to make a Ministerial Statement under Standing Order 347 in relation to the recent declaration of a State of National Emergency. Having considered the advice of the Director Civil Defence Emergency Management, the Minister of Civil Defence declared a State of National Emergency for the whole of ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Deadline for domestic travel extended
    People needing to travel on domestic flights, trains and Cook Strait ferries to get home before the country moves into level 4 lock-down tomorrow night will be able to continue using the passenger services until midnight on Friday, Transport Minister Phil Twyford said today. Domestic passenger services, particularly ferries, have ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Mortgage holiday and business finance support schemes to cushion COVID impacts
    The Government, retail banks and the Reserve Bank are today announcing a major financial support package for home owners and businesses affected by the economic impacts of COVID-19. The package will include a six month principal and interest payment holiday for mortgage holders and SME customers whose incomes have been ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Government working to keep air freight moving
    Minister of Transport Phil Twyford has today announced details of the Government’s support package to keep key air freight moving and ensure New Zealanders retain access to essential goods during the four-week level 4 lockdown. “The Government is working with airlines and air freight operators to ensure New Zealand’s key ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • New Zealand moves to COVID-19 Alert Level 3, then Level 4 in 48 hours
    New Zealand moved up to COVID-19 Alert Level 3 – Restrict New Zealand to move up to COVID-19 Alert Level 4 – Eliminate, in 48 hours Two-staged approach to give people and businesses time to prepare  Level 3, from tomorrow Non-essential businesses must close All events and gatherings must be ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Prime Minister: COVID-19 Alert Level increased
    Good afternoon  The Cabinet met this morning to discuss our next actions in the fight against COVID-19.  Like the rest of the world, we are facing the potential for devastating impacts from this virus. But, through decisive action, and through working together, do we have a small window to get ...
    BeehiveBy beehive.govt.nz
    2 weeks ago