Farmers see light on OCR
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10:35 am, September 15th, 2010 - 7 comments
Categories: Economy, monetary policy -
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Federated Farmers is calling for the OCR to be held to keep the dollar low.
The problem is that, with the Christchurch rebuild on the horizon and GST set to rise soon, it’s likely that we’ll see some significant short term inflation.
But hiking the dollar won’t hold inflation back for long. In fact all it will do is increase the differential between our rates and the rates of other currencies.
And that will make us a debt target as investors seek the best returns they can get.
Which, ironically, leads to the kind of debt-driven inflation we saw with the last housing boom.
In the last few decades we’ve shifted our economy from benefiting the productive sector and working Kiwis to benefiting speculators, the finance sector and foreign investors shipping profits back home. And our strict monetarist policy has been a major driver of this shift.
It’s time we looked at better ways of targeting inflation in the sectors it occurs rather than relying solely on the cash rate.
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The opposition parties stand united for an Aotearoa that honours Te Tiriti, rather than seeking to rewrite it. Labour, the Greens and Te Pāti Māori are working together against the Government’s divisive Treaty Principles Bill. ...2 weeks ago
- Release: Labour, Greens and Te Pāti Māori call on the Prime Minister to block the Treaty Principle...
The opposition parties stand united for an Aotearoa that honours Te Tiriti, rather than seeking to rewrite it. Labour, the Greens and Te Pāti Māori are working together against the Government’s divisive Treaty Principles Bill. ...2 weeks ago
- NZ must pursue independent foreign policy
The Green Party says the need is greater than ever for Aotearoa New Zealand to pursue an independent foreign policy. ...2 weeks ago
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Ka nui te mihi kia koutou. Ka mihi ki te mana whenua ko Ngāti Whātua Ōrākei. Kia ora and good morning everyone. Thank you Fran and Simon for inviting me here today, and importantly your leadership of this forum over several years now. I want to acknowledge David Gehrenbeck, Deputy ...9 hours ago
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Mental Health Minister Matt Doocey today opened Kahurangi, an innovative and much-needed facility for Canterbury’s Child, Adolescent, and Family Mental Health Services. “The new state of the art outpatient facility opened today will be a gamechanger for the way mental health is delivered for young people in Canterbury,” says Mr ...13 hours ago
- Driver safety screens to be installed on Auckland buses
Transport Minister Simeon Brown has welcomed news from the NZ Transport Agency (NZTA) that bus driver protection screens will be installed across Auckland’s bus fleet by 2026.“The Government is committed to improving the safety of working environments for bus drivers, and Budget 2024 allocated $15 million of Crown funding over ...13 hours ago
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The Oranga Tamariki (Responding to Serious Youth Offending) Bill had its first reading at Parliament today. The Bill reaffirms the Government’s commitment to crack down on serious youth offending, Minister for Children Karen Chhour says. “In recent years we have seen an unacceptable spike in youth offending. “This Bill makes ...1 day ago
- Critical milestones for earthquake buildings review
Fairer, more sensible rules about managing earthquake risks are a step closer with the passing of legislation and the appointment of an independent chair to provide expert advice, Minister for Building and Construction Chris Penk says. “The Government is committed to reinvigorating our cities and regions to support economic growth, ...1 day ago
- State of the art radiology machine for Auckland
People in Northland and Auckland will benefit from a new machine for cancer treatment installed at the Regional Cancer and Blood Service at Auckland City Hospital. The MV5 linear accelerator, or LINAC machine, officially opened today targets cancer tumours with pinpoint accuracy. Health Minister Dr Shane Reti says this new, ...1 day ago
- Foreign Minister to visit Europe
Deputy Prime Minister and Foreign Minister Winston Peters will travel to Europe for high-level talks with France, Germany and the United Kingdom next week. "Since taking office almost a year ago, the Coalition Government has emphasised the importance we place on New Zealand's traditional and likeminded diplomatic and ...1 day ago
- First arrests made under gang patch ban
Police have made their first arrests under the new gang patch legislation, with two gang members arrested, says Police Minister Mark Mitchell. “Just before 11 this morning, Police in Wairoa apprehended a gang member for wearing a patch to the supermarket. He has been arrested and will now face enforcement ...1 day ago
- Better support for victims of sexual violence
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- Government moving forward with Regional Deals
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- MSA pilot participant update
One of the ten young men selected to participate in the Military-Style Academy Pilot has allegedly reoffended. Children’s Minister Karen Chhour is disappointed but says it would be naïve to think that none of these young men would reoffend. “I’m saddened that this young person has not taken this opportunity ...1 day ago
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Associate Education Minister David Seymour says that school attendance is continuing to rise. In Term 3 of 2024 51.3 per cent of students attended school regularly, an increase of 5.3 percentage points from 46 per cent in Term 3 of 2023. “This Government has prioritised student attendance and it is ...2 days ago
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Tēnā koutou katoa – it is a pleasure to be here today. I would like to begin by acknowledging the important leadership role you all play in ensuring a quality health system New Zealanders can trust. There is enormous clinical expertise in this room covering a wide range of disciplines. ...2 days ago
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Tēnā koutou katoa. Mr President, Excellencies, Delegates. New Zealand, and all nations represented here today, are already dealing with the impacts of climate change. Our households, businesses, and economies are bearing the costs of its effects. The choices we make now will shape the severity of these impacts for generations ...3 days ago
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Climate Change Minister Simon Watts announced New Zealand will contribute NZ$10 million to the new Fund for Responding to Loss and Damage while at the annual United Nations Climate Change Conference (COP29) in Baku, Azerbaijan. “New Zealand is joining the global effort to address the significant challenge of responding to ...3 days ago
- Gang crackdown begins at stroke of midnight
The free ride for gangs is over when the clock strikes midnight tonight, with tough new laws officially coming into effect, Justice Minister Paul Goldsmith and Police Minister Mark Mitchell say. “Gang patches will no longer be able to be worn in public. To earn the right to wear a ...3 days ago
- LGFA increases borrowing capacity to support high growth councils
The Government is welcoming the decision by the Local Government Funding Agency to increase access to financing tools for fast growing councils to support greater investment in critical infrastructure, Local Government Minister Simeon Brown says.“Communities across the country are facing an infrastructure deficit and significant population growth is projected in ...3 days ago
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A renewed effort to get people to quit smoking will build on what has worked to date and target the groups who most need support, Associate Health Minister Casey Costello said today. “The latest New Zealand Health Survey results show the daily smoking rate at 6.9 per cent and we ...3 days ago
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Minister for Regulation David Seymour has today announced that the Ministry for Regulation’s Red Tape Tipline is now live. “We want to hear about your red tape horror stories. From today, New Zealanders will have a say on how they are regulated through an online portal,” says Mr Seymour. The ...4 days ago
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The Minister for Youth Matt Doocey has today announced the eleventh Youth Parliament will be taking place in 2025. “Youth Parliament offers a unique youth development opportunity to young people from across New Zealand to experience the political process and learn about how government works,” says Mr Doocey. “The two-day ...4 days ago
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With the launch of Fraud Awareness Week, the Government is committing to new coordination efforts across industry and government to combat online scams, Commerce and Consumer Affairs Minister Andrew Bayly says. “Online financial scams are a growing problem for New Zealand. New data released today shows that Kiwis lost nearly ...4 days ago
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Minister for Children Karen Chhour will consider the recommendations made by the Social Services and Community Committee in its report back to Parliament on the Oranga Tamariki (Repeal of Section 7AA) Amendment Bill. “I want to thank the people who made submissions and those who appeared before the committee in ...5 days ago
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Defence Minister Judith Collins will this week attend the Association of Southeast Asian Nations (ASEAN) Defence Ministers’ Meeting-Plus in Vientiane, Laos. “We need to take every opportunity to engage with our international partners, given the increasingly unstable geo-political situation,” Ms Collins says. “New Zealand has a long-standing commitment to this ...5 days ago
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The Maritime Union also has zero faith in government assurances of a gold standard for ships used for the trade. ...2 hours ago - Offshore oil and gas ban ‘worst political decision’, Shane Jones says
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However, his name remains under wraps as he has already indicated he will appeal. ...6 hours ago
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Source: The Conversation (Au and NZ) – By Susan Grantham, Lecturer in Communication, Griffith University Shutterstock The federal government’s proposed social media ban for under-16s has sparked widespread debate, affecting millions of young Australians, their families and educators. But will it actually work? While the aim behind this ban ...6 hours ago - Ant stings can be painful. Here’s how to avoid getting stung this summer (and what to do if you do...
Source: The Conversation (Au and NZ) – By Sam Robinson, Senior Research Fellow, Institute for Molecular Bioscience, The University of Queensland AG-PHOTOS/Shutterstock With the start of summer just days away, many of us will be looking forward to long sunny days spent at the beach, by the pool, out ...6 hours ago
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The only published and available best-selling indie book chart in New Zealand is the top 10 sales list recorded every week at Unity Books’ stores in High St, Auckland, and Willis St, Wellington. AUCKLAND 1 Orbital by Samantha Harvey (Jonathan Cape, $26) The slight, superb winner of the Booker Prize ...9 hours ago
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The first arrest was made just three minutes after midnight, with 11 more to come. ...11 hours ago
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The committee plans to hold hearings in the week starting Monday, 27 January and the weeks starting 10, 17 and 24 February 2025. ...12 hours ago
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Source: The Conversation (Au and NZ) – By Matej Lipar, Adjunct Research Fellow, School of Earth and Planetary Sciences, Curtin University Author provided/Google Earth Earlier this year, a caver was poring over satellite images of the Nullarbor Plain when he came across something unexpected: an enormous, mysterious scar etched ...14 hours ago
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Source: The Conversation (Au and NZ) – By Annette Greenhow, Assistant Professor, Faculty of Law, Bond University Linda George/Shutterstock The ten-year anniversary of the death of much-loved Australian cricketer Phillip Hughes falls on November 27. The 25-year-old’s life was tragically cut short in 2014 when a bouncer ...14 hours ago
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Source: The Conversation (Au and NZ) – By Stephanie Gomes-Ng, Senior Lecturer of Psychology, Auckland University of Technology Getty Images Former New Zealand prime minister John Key has three white rabbits painted on his helicopter, a nod to his “massively superstitious” habit of repeating “white rabbits” three times at ...16 hours ago
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The coalition has "absolutely no intention of listening to the evidence that comes out of their experiment", Labour MP says. ...17 hours ago
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Labour claims Government is ‘cherry-picking’ smoking trends data to hide decade-first increase in daily smokers The post Smoke and mirrors in heated tobacco debate appeared first on Newsroom. ...17 hours ago - Smoke and mirrors in tobacco debate
Labour claims Government is ‘cherry-picking’ smoking trends data to hide decade-first increase in daily smokers The post Smoke and mirrors in tobacco debate appeared first on Newsroom. ...17 hours ago
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The Government’s economic adviser is sending a message it doesn’t want to hear – superannuation is increasingly unaffordable The post Treasury bangs the drum on ‘unsustainable’ superannuation appeared first on Newsroom. ...17 hours ago
- Victims of sex offending welcome shift on name suppression laws
A man abused by a former political figure is "immensely relieved" at a government proposal to end secrecy around sex offenders' identities. ...17 hours ago
- This week three parties stood together – can they withstand the storm to come?
There is plenty yet to play out, but the next election is at this rate shaping up as trio versus trio, writes Toby Manhire. A subplot of this week’s historic hīkoi mō te Tiriti has been the sight of the three opposition parties presenting a unified front. Te Pāti Māori ...18 hours ago
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Actually, it’s about time we started looking for a better socio-economic system than capitalism.
I agree.
Capitalism has had its day. Time for something new.
Seems that this country’s parliamentary representatives agree too! Kind of.
Next time any of those clowns in parliament or their supporters, bang on about how precious social democracy is, I’d like to remind them that they thought it so fantastic that they threw it away in a twinkling ’cause they thought it inadequate and not up to the task when viewed beside the suggestion of vesting unaccountable authority in a single individual.
But in the meantime let us have some rational system for controlling speculation on our hard won currency and give the finger to the quick buck-quick move finance addicts. If it costs more for imported goods because our currency is lower so that we have to pay more NZ$ when we want to purchase other currencies, then we are facing the reality of our level of wealth within the country, and the country within the world.
Agreed – I think we should peg our $$ to the Chinese currency @ 1:1