English refuses inquiry into $1.7bln SCF bailout
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11:00 am, September 11th, 2010 - 34 comments
Categories: accountability, public services -
Tags: christchurch earthquake, south canterbury finance
Bill English has ruled out an inquiry into the SCF affair. Think about that: the government is forced to spend the annual Police budget in a single morning and it isn’t even interested in learning what could have been done better.
Compare that to the public service’s response to the earthquake, on the other hand, which will doubtlessly be subject to numerous inquires. It’s just good governance to examine how things went in a major event so that they can be done even better next time.
Imperator Fish, whose a lawyer, has a piece on the SCF bailout that says the Crown was legally obliged to pay out New Zealander depositors, would have been obliged to pay out existing depositors even if it had kicked SCF out of the guarantee scheme, and was under no legal obligation to pay out the foreign depositors or the other creditors. It seems to me that means if the government had kicked out SCF earlier and only paid who it had to then tens or hundreds of millions could have been saved. Imperator Fish is largely pro the bail-out yet calls for an inquiry. It’s just good practice.
What good reason could there be for not investigating the SCF bailout? When there’s billions of dollars on the line, it’s irresponsible not to try to learn from experience.
PS. If you haven’t been already, you should check out Brendon Burns‘ accounts from on the ground in Christchurch. Brings a far more human angle than what I’ve seen in the msm.
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- Release: Dark day for Kiwi kids as a third of Govt cuts affect themNews that 1000 jobs at the Ministry of Education and Oranga Tamariki could go is devastating for future generations of New Zealanders. ...3 weeks ago
- Release: Alarm as Government signals further blow to school lunchesMore essential jobs could be on the chopping block, this time Ministry of Education staff on the school lunches team are set to find out whether they're in line to lose their jobs. ...3 weeks ago
- Oranga Tamariki cuts commit tamariki to state abuseTe Pāti Māori is disgusted at the confirmation that hundreds are set to lose their jobs at Oranga Tamariki, and the disestablishment of the Treaty Response Unit. “This act of absolute carelessness and out of touch decision making is committing tamariki to state abuse.” Said Te Pāti Māori Oranga Tamariki ...3 weeks ago
- Next stop NASA for New Zealand students
Six tertiary students have been selected to work on NASA projects in the US through a New Zealand Space Scholarship, Space Minister Judith Collins announced today. “This is a fantastic opportunity for these talented students. They will undertake internships at NASA’s Ames Research Center or its Jet Propulsion Laboratory (JPL), where ...2 hours ago - $1.9 billion investment to keep NZ safe from crimeNew Zealanders will be safer because of a $1.9 billion investment in more frontline Corrections officers, more support for offenders to turn away from crime, and more prison capacity, Corrections Minister Mark Mitchell says. “Our Government said we would crack down on crime. We promised to restore law and order, ...2 hours ago
- OECD reinforces need to control spendingThe OECD’s latest report on New Zealand reinforces the importance of bringing Government spending under control, Finance Minister Nicola Willis says. The OECD conducts country surveys every two years to review its members’ economic policies. The 2024 New Zealand survey was presented in Wellington today by OECD Chief Economist Clare Lombardelli. ...5 hours ago
- Agreement delivers Local Water Done Well for AucklandThe Government has delivered on its election promise to provide a financially sustainable model for Auckland under its Local Water Done Well plan. The plan, which has been unanimously endorsed by Auckland Council’s Governing Body, will see Aucklanders avoid the previously projected 25.8 per cent water rates increases while retaining ...1 day ago
- Gaza and the Pacific on the agenda with GermanyForeign Minister Winston Peters discussed the need for an immediate ceasefire in Gaza, and enhanced cooperation in the Pacific with German Foreign Minister Annalena Baerbock during her first official visit to New Zealand today. "New Zealand and Germany enjoy shared interests and values, including the rule of law, democracy, respect for the international system ...2 days ago
- Decision allows for housing growth in Western Bay of PlentyThe Minister Responsible for RMA Reform, Chris Bishop today released his decision on four recommendations referred to him by the Western Bay of Plenty District Council, opening the door to housing growth in the area. The Council’s Plan Change 92 allows more homes to be built in existing and new ...3 days ago
- Speech to New Zealand China CouncilThank you, John McKinnon and the New Zealand China Council for the invitation to speak to you today. Thank you too, all members of the China Council. Your effort has played an essential role in helping to build, shape, and grow a balanced and resilient relationship between our two ...3 days ago
- Modern insurance law will protect Kiwi householdsThe Government is modernising insurance law to better protect Kiwis and provide security in the event of a disaster, Commerce and Consumer Affairs Minister Andrew Bayly announced today. “These reforms are long overdue. New Zealand’s insurance law is complicated and dated, some of which is more than 100 years old. ...4 days ago
- Government recommits to equal payThe coalition Government is refreshing its approach to supporting pay equity claims as time-limited funding for the Pay Equity Taskforce comes to an end, Public Service Minister Nicola Willis says. “Three years ago, the then-government introduced changes to the Equal Pay Act to support pay equity bargaining. The changes were ...4 days ago
- Transforming how our children learn to readStructured literacy will change the way New Zealand children learn to read - improving achievement and setting students up for success, Education Minister Erica Stanford says. “Being able to read and write is a fundamental life skill that too many young people are missing out on. Recent data shows that ...4 days ago
- NZ not backing down in Canada dairy disputeTrade 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’ ...4 days ago
- Stronger oversight for our most vulnerable childrenThe 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 ...4 days ago
- Streamlining Building Consent ChangesThe 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 ...5 days 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 ...5 days 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. ...5 days ago
- Accelerating airport security linesFrom 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 ...5 days ago
- Community hui to talk about kina barrensPeople 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 ...5 days ago
- Kiwi exporters win as NZ-EU FTA enters into forceKiwi 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. ...5 days ago
- Mining resurgence a welcome signThere 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 ...5 days ago
- Ō-Rākau Remembrance Bill passes first readingThe 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 ...6 days ago
- Government to boost public EV charging networkEnergy 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 ...6 days ago
- Residential Property Managers Bill to not progressThe 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 ...6 days ago
- Independent review into disability support servicesThe 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 ...6 days ago
- Justice Minister updates UN on law & order planJustice 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 ...6 days ago
- Ending emergency housing motels in RotoruaThe 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 ...6 days ago
- Trade Minister travels to Riyadh, OECD, and DubaiTrade 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 ...1 week ago
- Education priorities focused on lifting achievementEducation 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 ...1 week ago
- NZTA App first step towards digital driver licenceThe 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). ...1 week ago
- Supporting whānau out of emergency housingWhānau 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 ...1 week ago
- Tribute to Dave O'SullivanRacing 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 ...1 week ago
- Speech – Eid al-FitrAssalaamu 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 ...1 week ago
- Government saves access to medicinesAssociate 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 ...1 week ago
- Pharmac Chair appointedHon 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. ...1 week ago
- Taking action on Fetal Alcohol Spectrum DisorderHundreds 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, ...1 week ago
- New sports complex opens in KaikoheRegional 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 ...1 week ago
- Diplomacy needed more than everForeign 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 ...1 week ago
- Anzac Commemorative Address, Buttes New British Cemetery BelgiumAmbassador 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 ...1 week ago
- Anzac Commemorative Address – NZ National Service, Chunuk BairDistinguished 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 ...2 weeks ago
- Anzac Commemorative Address – Dawn Service, Gallipoli, TürkiyeMai 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 ...2 weeks ago
- PM announces changes to portfoliosPaul 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 ...2 weeks ago
- A View from Afar: Buchanan and Manning – A moment of friction
This episode of A View From Afar was recorded LIVE on May 6, 2024 (NZST) which is Sunday evening, May 5, 2024 at 8:30pm (USEST). In an analytical essay titled ‘A moment of friction’ political scientist Dr Paul Buchanan wrote how we are living within a decisive moment ...1 hour ago - Can I take your order – and your data? The hidden reason retailers are replacing staff with AI bot...Source: The Conversation (Au and NZ) – By Cameron Shackell, Sessional Academic and Visitor, School of Information Systems, Queensland University of Technology Linus Zoll / Google DeepMind / Unsplash You might have seen viral videos of Wendy’s drive-thru customers in the United States ordering their fast food from the ...1 hour ago
- The steamiest movie of the year has almost no sex in it. How did Challengers do it?Source: The Conversation (Au and NZ) – By Alison Taylor, Assistant Professor, Bond University Metro Goldwyn Mayer Pictures At the crux of the critical response to Luca Guadagnino’s new movie Challengers is one word: “sexy”. The film charts a love triangle between three up-and-coming tennis players: Tashi (Zendaya), ...1 hour ago
- The Australian public service is letting Indigenous people down. How do we fix it?Source: The Conversation (Au and NZ) – By Jenny Stewart, Professor of Public Policy, ADFA Canberra, UNSW Sydney For years, First Nations people have been telling governments they want to be listened to. In particular, they want more ownership of the programs and services that are supposed to help them. ...2 hours ago
- Curious Kids: why do trees have bark?Source: The Conversation (Au and NZ) – By Gregory Moore, Senior Research Associate, School of Ecosystem and Forest Sciences, The University of Melbourne Why do trees have bark? Julien, age 6, Melbourne. This is a great question, Julien. We are so familiar with bark on trees, that most of us ...2 hours ago
- Prime Minister Christopher Luxon announces $1.9 billion plan to make NZ safer
The Prime Minister says there will be a "significant investment" in funding for frontline Corrections staffing and services. ...3 hours ago - Surgery is the default treatment for ACL injuries in Australia. But it’s not the only waySource: The Conversation (Au and NZ) – By Anthony Nasser, Senior Lecturer in Physiotherapy, University of Technology Sydney PeopleImages.com – Yuri A/Shutterstock The anterior cruciate ligament (ACL) is an important ligament in the knee. It runs from the thigh bone (femur) to the shin bone (tibia) and helps stabilise ...3 hours ago
- Inflation, education and productivity: Some of the problems NZ needs to fix, according to the OECDThe country is being told it needs to get inflation under control, balance the books, raise educational achievement, and lift productivity. ...3 hours ago
- Live: Prime Minister Christopher Luxon's post-Cabinet updateWatch RNZ's livestream of the press conference and follow our blog for all the latest updates. ...4 hours ago
- Voluntary redundancies at Ministry of Business, Innovation and Employment bring its tally of job los...The latest round of voluntary redundancies at the ministry has lifted RNZ's count of public sector job cuts to more than 4000. ...4 hours ago
- UK Tories perform badly at local elections; Labor still narrowly ahead in Australian pollsSource: The Conversation (Au and NZ) – By Adrian Beaumont, Election Analyst (Psephologist) at The Conversation; and Honorary Associate, School of Mathematics and Statistics, The University of Melbourne I covered the May 2 United Kingdom local government elections for The Poll Bludger. The Blackpool South parliamentary byelection was also held, ...5 hours ago
- Hundreds of cities have achieved zero road deaths in a year. Here’s how they did itSource: The Conversation (Au and NZ) – By Matthew Mclaughlin, Adjunct Research Fellow, The University of Western Australia Matthew Mclaughlin It’s National Road Safety Week and it comes on the back of a year in which 1,286 people died on Australian roads. The rising road toll – up 8.2% ...5 hours ago
- What does the new Commonwealth Prac Payment mean for students? Will it do enough to end ‘placement...Source: The Conversation (Au and NZ) – By Deanna Grant-Smith, Professor of Management, University of the Sunshine Coast The federal government has announced a “Commonwealth Prac Payment” to support selected groups of students doing mandatory work placements. Those who are studying to be a teacher, nurse, midwife or social ...5 hours ago
- Education, productivity and emissions: Three big problems NZ needs to fix, according to the OECDEconomic growth is sluggish - and the problems are a familiar list. ...5 hours ago
- New to streaming: What to watch on Netflix NZ, Neon and more this week
We round up everything coming to streaming services this week, including Netflix, Amazon Prime, Disney+, Apple TV+, ThreeNow, Neon and TVNZ+. If you love a dark comedy: Bodkin (Netflix, May 9) An English podcaster, an Irish podcaster and American podcaster walk into a pub and…make a TV show? ...6 hours ago - ‘Don’t mistake Pacific leaders AUKUS quietness’ as support for NZ, says academicBy Eleisha Foon, RNZ Pacific senior journalist A Pacific regionalism academic has called out New Zealand’s Foreign Affairs Minister Winston Peters for withholding information from the public on AUKUS and says the security deal “raises serious questions for the Pacific region”. Auckland University of Technology academic Dr Marco de Jong ...6 hours ago
- Labour says Government's water plan will see some councils 'left out in the cold'Meanwhile, the party and National are also odds about whose plan to fix the pipes will cost more. ...7 hours ago
- The climate cost of your digital lifeHow worried should we be about the cloud? This is an excerpt from our weekly environmental newsletter Future Proof. Sign up here. I currently have a few thousand unread emails languishing in my inbox, mostly old marketing newsletters and piles of unread science journal press releases. I have a similar number ...7 hours ago
- Three fact-checking challenges in Southeast AsiaSource: The Conversation (Au and NZ) – By Nuurrianti Jalli, Assistant Professor of Communication Studies College of Arts and Sciences Department of Languages, Literature, and Communication Studies, Northern State University Amid the COVID-19 pandemic, Southeast Asian governments not only have to deal with the virus but also with the false ...7 hours ago
- Houston area’s flood problems offer lessons for cities trying to adapt to a changing climateSource: The Conversation (Au and NZ) – By Richard B. (Ricky) Rood, Professor Emeritus of Climate and Space Sciences and Engineering, University of Michigan Pavement can leave floodwater with nowhere to go. Chengyue Lao/Xinhua via Getty Images Scenes from the Houston area looked like the aftermath of a hurricane in ...7 hours ago
- The scaling back of Saudi Arabia’s proposed urban mega-project sends a clear warning to other woul...Source: The Conversation (Au and NZ) – By David Murakami Wood, Professor of Critical Surveillance and Securities Studies, L’Université d’Ottawa/University of Ottawa The skyline of Riyadh, the capital and largest city of the Kingdom of Saudia Arabia. (Shutterstock) There is a long history of planned city building by both governments ...7 hours ago
- Many immigrants to the US are fleeing violence and persecution − here’s how the federal governme...Source: The Conversation (Au and NZ) – By Karen Jacobsen, Henry J. Leir Chair in Global Migration, Fletcher School of Law & Diplomacy, Tufts University The men’s dormitory at a new center for asylum-seekers in Portland, Maine. Ben McCanna/Portland Press Herald via Getty Images Immigration has become a defining issue ...7 hours ago
- LIVE TODAY: A View from Afar – A Moment of FrictionThe LIVE Recording of A View from Afar podcast will begin today at 12:45pm May 6, 2024 (NZST) which is Sunday evening, 8:30pm (USEST). In an analytical essay titled ‘A moment of friction’ political scientist Dr Paul Buchanan wrote how we are living within a decisive moment of ...8 hours ago
- How to make the most of oyster seasonThe Boil Up’s Lucinda Bennett considers the oyster – from freshness to pearls to the joy of shucking your own. This is an excerpt from our weekly food newsletter, The Boil Up. In Carmen Maria Machado’s short story ‘Eight Bites’, a woman begins her last supper before bariatric surgery with “a cavalcade ...8 hours ago
- Auckland University staff appeal over Gaza protest in solidarity with studentsAsia Pacific Report A group of 65 Auckland University academics have written an open letter to vice-chancellor Dawn Freshwater criticising the institution’s stance over students protesting in solidarity with Palestine. They have called on her administration to “support” the students who were denied permission to establish an “overnight encampment” by ...8 hours ago
- How the Student Volunteer Army is helping high schoolers give backThe Student Volunteer Army is on the march, generating approximately 1.6 million hours of volunteering from roughly 35,000 secondary school students in just five years. For Rebekah Brown, the pathway to volunteering started with her singing coach. With a passion for the arts, the suggestion to volunteer at Acting Antics, ...9 hours ago
- Here’s what happened when I replaced my personality with the Meta AI chatbot for a dayKeeping up with online communication can be exhausting, so Fran Barclay enlisted the help of Meta’s new ‘intelligent assistant’ to respond to all her messages. Could her mates tell the difference? For centuries, technology has ruled the ways in which we communicate. From the dawn of written language, to the ...9 hours ago
- MP Jamie Arbuckle to keep two jobs – and two salariesJamie Arbuckle, a councillor who has become an member of parliament, says he has settled into having two roles so comfortably he's going to keep both pay cheques. ...9 hours ago
- What Australia can learn from Latin America when it comes to tackling violence against womenSource: The Conversation (Au and NZ) – By Luis Gómez Romero, Senior Lecturer in Human Rights, Constitutional Law and Legal Theory, University of Wollongong Fifty years ago, Australian feminist Anne Summers denounced “the ideology of sexism” governing over so many women’s lives. Unfortunately, sexism is as lethal today as it ...11 hours ago
- A tax on sugary drinks can make us healthier. It’s time for Australia to introduce oneSource: The Conversation (Au and NZ) – By Peter Breadon, Program Director, Health and Aged Care, Grattan Institute Leah Newhouse/Pexels Sugary drinks cause weight gain and increase the risk of a range of diseases, including diabetes. The evidence shows that well-designed taxes can reduce sugary drink sales, cause ...11 hours ago
- As New Zealand CBDs evolve post-pandemic, repurposing old or empty spaces should be on the drawing b...Source: The Conversation (Au and NZ) – By Jose Antonio Lara-Hernandez, Senior Researcher in Architecture, Auckland University of Technology Getty Images The COVID-19 pandemic and the hybrid work patterns it fostered have changed the way we think about office space, and central business districts in general. While fears ...11 hours ago
- Nuclear power makes no sense for Australia – but it’s a useful diversion from real climate actio...Source: The Conversation (Au and NZ) – By Adam Simpson, Senior Lecturer, International Studies, University of South Australia Wlad74, Shutterstock Opposition leader Peter Dutton argues Australia needs nuclear power to achieve net zero emissions by 2050. But nuclear power is not feasible for Australia. It is too slow, too ...11 hours ago
- Australian churches collectively raise billions of dollars a year – why aren’t they taxed?Source: The Conversation (Au and NZ) – By Dale Boccabella, Associate Professor of Taxation Law, UNSW Sydney There’s a good reason your local volunteer-run netball club doesn’t pay tax. In Australia, various nonprofit organisations are exempt from paying income tax, including those that do charitable work, such as churches. ...11 hours ago
- Real comedy, real trauma: how Baby Reindeer and Feel Good are forging a new television genreSource: The Conversation (Au and NZ) – By Marina Deller, Casual Academic, Creative Writing and English Literature, Flinders University Netflix Comedy is opening up spaces for silences to be broken and trauma stories to be told. In 2018, Hannah Gadsby started a revolution with Nanette, asking audiences to rethink ...11 hours ago
- Tense office dynamics draining your soul? Kink can help with thatThe workplace can be a minefield of bad comms and passive aggression. Kinksters can help you navigate it. A friend and colleague recently gave me a compliment I loved. They told me I’d always been good at emotional communication and making people feel comfortable. “But I feel like it’s really ...11 hours ago
- Old, more polluting ships serving NZ could be a barrier to climate goalsThe Climate Change Commission is floating the idea of bringing international shipping into New Zealand's carbon-cutting targets. ...13 hours ago
- A week on, the school phone ban is (mostly) winning praiseEven if some students are now just texting on their laptops. Stewart Sowman-Lund writes in this excerpt from The Bulletin, The Spinoff’s morning news round-up. To receive The Bulletin in full each weekday, sign up here. ...13 hours ago
- Could Wellington be the next region to ink a water deal with the government?Councils from Horowhenua, Kāpiti, Wairarapa, the Hutt Valley, Porirua and Wellington City will meet this Friday to work together on a plan for a Greater Wellington region water deal. ...13 hours ago
- Award-Winning Musician Ria Hall Announces Candidacy For Mayor Of Tauranga
Renowned musician, advocate, and proud born and raised daughter of Tauranga, Ria Hall, is announcing her candidacy for Mayor of Tauranga and Pāpāmoa Ward for the upcoming election on July 20th. ...14 hours ago - Teachers don’t want the new histories curriculum to be ‘rebalanced’The new Aotearoa histories curriculum is rich with potential. There’s still work to be done, but the education minister’s criticisms about ‘balance’ miss the mark, argues primary school teacher Jessie Moss. In 2015, Ōtorohanga College students presented to parliament a petition signed by more than 10,000 people calling for a ...15 hours ago
- At last! The kiwi is getting its comeuppance For too long our so-called national bird has maintained its stranglehold on the economy of regional New Zealand. Thanks to the fast track legislation, we will have our revenge. Theories abound on what ails New Zealand’s economy. National leader Chris Luxon has posited that we’re negative, wet, whiny, and inward-looking; ...15 hours ago
- Rent controls are far from being ‘economically illiterate’
Opinion: There are many ways to regulate for rental increases, depending on the market conditions The post Rent controls are far from being ‘economically illiterate’ appeared first on Newsroom. ...15 hours ago - Southland stream life wiped out by single contaminant dumpAn investigation is underway into how freshwater crayfish, trout and thousands of eels were killed when pollution from private land ended up in a healthy stream The post Southland stream life wiped out by single contaminant dump appeared first on Newsroom. ...15 hours ago
- An incident at Glenmark station in CanterburyLate one afternoon in March 1860 a man in a thin green velveteen jacket and a wide-awake hat arrived on foot at a sheep station named Glenmark, about 65 kilometres north of Christchurch. The man was in his mid-fifties but he looked older. Several people who met him that day ...15 hours ago
- An obscure climate accounting decision with billion-dollar consequencesOpinion: For a country that trades on its reputation as a trustworthy international counterpart, we must follow through on our climate commitments – or face serious financial risks The post An obscure climate accounting decision with billion-dollar consequences appeared first on Newsroom. ...15 hours ago
- Officials set aside environmental benefits of waste-to-energy facilityA $350 million waste incinerator is a step closer, but questions marks remain over its environmental benefits The post Officials set aside environmental benefits of waste-to-energy facility appeared first on Newsroom. ...15 hours ago
- Auckland’s decades-old stadium shuffleIf building one of Auckland’s possible waterfront stadiums was funded privately, it would need to hold a sold-out Ed Sherran concert every weekday for 25 years. That’s Rob Hamlin’s finding – he’s a senior marketing lecturer at the University of Otago. “It’s not going to happen; forget about it,” he ...15 hours ago
- Federated Farmers’ support for fast-track bill ‘ambiguous’Fed Farmers’ oral and written submissions on the fast-track bill contain no definitive indication of the group’s support. Board member Mark Hooper clarifies. The post Federated Farmers’ support for fast-track bill ‘ambiguous’ appeared first on Newsroom. ...15 hours ago
- How advertising, not social media, killed traditional journalismComment: The debate over the future relationship between news and social media is bringing us closer to a long-overdue reckoning. Social media isn’t trying to kill journalism, because social media has never really cared about journalism. Social media is resolutely in the attention business. News propels some attention — perhaps ...15 hours ago
- Daily crossword, Monday 6 MayThe post Daily crossword, Monday 6 May appeared first on Newsroom. ...15 hours ago
- Political donations: people power no match for big businessAnalysis: Experts are renewing their calls for a cap on donations as the gap between the left and the right widens The post Political donations: people power no match for big business appeared first on Newsroom. ...15 hours ago
- Newsroom daily quiz, Monday 6 MayLoading…(function(i,s,o,g,r,a,m){var ql=document.querySelectorAll('A,DIV,A[data-quiz],DIV[data-quiz]'); if(ql){if(ql.length){for(var k=0;k<ql.length;k++){ql[k].id='quiz-embed-'+k;ql[k].href="javascript:var i=document.getElementById('quiz-embed-"+k+"');try{qz.startQuiz(i)}catch(e){i.start=1;i.style.cursor='wait';i.style.opacity='0.5'};void(0);"}}};i['QP']=r;i[r]=i[r]||function(){(i[r].q=i[r].q||[]).push(arguments)},i[r].l=1*new Date();a=s.createElement(o),m=s.getElementsByTagName(o)[0];a.async=1;a.src=g;m.parentNode.insertBefore(a,m)})(window,document,'script','https://take.quiz-maker.com/3012/CDN/quiz-embed-v1.js','qp'); Got a good quiz question? Send Newsroom your questions. The post Newsroom daily quiz, Monday 6 May appeared first on Newsroom. ...15 hours ago
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Of course he does – he knows damn well that the SCF bailout should never have happened and wouldn’t have if they’d been held to the terms of the agreement that the government guarantee scheme enforced. Which means that he, himself, would be found culpable for it.
RWNJs – preach personal responsibility but refuse to take any themselves.
The SCF bailout shouldn’t have happened, as no finance companies should have been covered by the guarantee – risk free rate of return much? But this is a thing that should have been debated when finance companies were included into the guarantee, not now when the governments hands are (in the opinions of legal experts) unquestionably tied. I generally support an inquiry into the matter.
This talk of 1.7 billion is mislreading rubbish, of the money injected (I thought it was 1.6 billion) the majority will be recovered thus the net bailout will be closer to $300-600M.
And when is Labour going to start promising a top to bottom inquiry into SCF?
Hang on, Labour is the government?
But Loota, got to assume you agree an investigation is in order.
They’re not the government ATM but they can promise an investigation for when they get in power again.
Yea, they can promise to promise to do it, not actually do it. We need the investigation now. Labour need to hammer this one in the House until this lot are forced to do it.
With over a billion dollars handed out I think the term “Inquisition” would be better suited than “inquiry” 😛
What, hold on didn’t Winnie get investigated by the Police, Parliamnet, the SFO for his involvment with a Billionaire? Yet the collapse of the largest Finance company leading to the largest bailout – bigger the the Maori Waitangi Tribunal settlements by the way – in NZ history doesn’t require an investigation? What country is this?
I mean come on the liquor store down the road gets ripped off and that gets investigated but this doesn’t?!?
The tories cant afford for ANYONE to poke around into this
so do as you’re told and accept “”NO investigation””
Oh like another winebox 😉
Yes. Another Winebox (any old chardonnay will do) is in order. And if Labour, the Greens and other interested parties don’t pick up the ball, then it’s game on for Winston Peters?
sorry to be a prat Eddie- any chance you could change ‘whose’ to ‘who’s/who is’ – hang over state it is bugging me. cheers
“It may seem unfair that some people are getting the benefit of a guarantee not designed for them, but the alternative is to risk getting much less during the receivership. English’s position on this matter is at least defensible, and may in fact be financially prudent.”
Like the Govt. has been saying all along, SCF’s collapse would have damaged the economy a whole lot more than the cost of paying out investors.
Financially prudent = Good
How?
Small investors could have been paid back in full. Large speculators could take a sharp haircut and be made to eat some losses.
Any businesses who had been promised credit or cover of cashflow by SCF could still have had credit extended to them fully underwritten by the Govt.
Financially prudent = Good, only problem is != Bill and John’s antics in draining the public purse.
Excluding some investors most likely would have ended up in years of litigation at the taxpayers expense. Also this would have been devastating to our image of being a desirable place for foreign investors to bring capital. The effects of not paying out ALL the investors would have been shooting our economy in the foot.
Thankfully the current Govt. were the ones making the decisions here as Labour’s lack of financial and economic knowledge could have been tragic for New Zealand.
“Also this would have been devastating to our image of being a desirable place for foreign investors to bring capital. The effects of not paying out ALL the investors would have been shooting our economy in the foot.”
So, you’re telling me that we have a system in which we need to keep foreign investors sweet by periodically providing them with government guaranteed, above bank rate returns for investments in finance companies that are known to be in financial trouble? Is that a good system?
No. I’m telling you that IF an institution covered by the Guarantee Scheme fails – then paying out all investors is the ‘financially prudent’ decision.
Whether Labours Guarantee Scheme is good or not is no reason to make bad decisions regarding foreign investors.
Oh, I see what you did there.
Labour put the scheme together to help mum and dad investors, National ran the scheme to payout big time financial speculators.
its these bad decisions regarding NZ taxpayers you need to be worried about, and how we are all being ripped off to provide corporate welfare to foreign investors.
How is the decision to pay out all investors not a good decision for tax payers given that not doing so would cost them a lot more?
Your idea that National wants to take our money and give it to foreign investors for “welfare” sounds like some kind of wacky conspiracy theory.
jbanks, do you think that the decision in April regarding SCF and the guarantee scheme was a good one?
That all depends on the information that SCF provided to NZ Treasury (who made the call) when they applied for the government guarantee scheme.
So, you then support a full inquiry into that then?
four words for Double Dipton – brooooook, brook, brook, brook………………………………….
You’re way too subtle for me. What are you saying?
that he’s a chicken
Year two of the National Government’s three year term. This government is shaping itself to be the government of avoiding inquiries as too much would be exposed. SCF is the tip of the iceberg. Beneath this iceberg will be the EQC.
This government also needs to be aware of their excessive borrowing which will lead to one of the biggest deficits this country has known within a three year term. The recession cannot be blamed for the bail out of SCF or decisions the EQC make.
Watch them try their line about Labours 9 years of economic mismanagement over and over and over and over again.
Loota you mean like buying Kiwi Rail back (even though a broken arse when brought, at least we own it) and Kiwibank, (I’d like to give Michael Cullen the oppertunity to grow it).
I have a feeling that Kiwibank should be hugely grown, and be used to force the private financial sector to take less money out of the productive economy. They’ll hate it, but too bad.
English is just trying to be fair and to play fair. Give him a break.
“English is just trying to be fair and to play fair.”
‘Fair’ in what sense? And to whom? (to non-investors in SCF?)
We wait til the election runup and ask Bill English the same question: what does his government have to hide in not having the enquiry? If Bill English was indeed the feeder of emails for the Hollow Men, and he’s not dishing out emails now, it means his fingers are all over this pie, like they were with the betrayal of ECAN and the Pacific funding without paperwork. This guy, along with JKeyll and Hide and Brownlee is going to give New Zealanders not only a giant headache but a giant bill to pay because of him and his government’s betrayal of Kiwis to big business mates. Auckland ATA’s pretence of open and transparent governance in the wake of giving Auckland’s IT computer contract to international mates would have had Hide’s and JKeyll’s sign-off.
They’re all pond-scum feeding off New Zealanders and betraying us in the process. I should hope these betrayals and more to come will be writ large in the sight of all Kiwis come 2011. The rugby world cup outcome should be the least of this corrupt government’s worries.