Fonterra’s Capital Restructure

Written By: - Date published: 2:26 pm, December 7th, 2021 - 32 comments
Categories: business, Deep stuff, Economy, exports, farming - Tags:

Fonterra is in the middle of a big restructure of its capital. It is still the case given its dominance over us that where Milk Supertanker Fonterra goes, we go.

The Fonterra Annual General Meeting on Thursday has a fair bit riding on it, and the Minister of Agriculture Damien O’Connor and MPI know it.
(I’m only focusing on share ownership in this piece, not the economic and social and environmental footprint of Fonterra. For those who wish to chew over their broader strategy, it is here.

When Fonterra was legislated into existence 20 years ago, it took the simple and pragmatic approach of adopting the capital structure format used by its predecessors; farmer shareholders had to own one share for every kilo of milk solids they supplied.

If you wanted to supply Fonterra you had to buy shares from Fonterra, and if you chose to exit Fonterra would buy those shares back.

But what occurred was a tsunami of cash that pushed in and rolled out pretty fast.

The mass-irrigation boom happened particularly in Canterbury and Otago and since most of these new conversion farms had no choice but to supply Fonterra, way more shares were being bought than sold.

But then competitor businesses started up there and the milk price crashed in 2006-07, and each mid-Canterbury dairy farmer with an average 300,000 shares that walked off to the competitors was costing Fonterra an average of $1.35m in share redemptions each.

That made for massive instability on Fonterra to invest, which was also more broadly doing badly every way you looked at it.

So this is another major go at stabilising itself financially, after selling off nearly everything that stood up since 2018. The Chief Miles Hurrell is most certainly working to a long term plan.

The consultation with the farmer owners has been extensive this time around, which is positive.

For those interested in the detail of what is proposed here’s a quick summary.

Retaining local control of a much smaller but much more profitable Fonterra is very important to us all.

Fonterra itself says “We see total New Zealand milk supply as likely to decline, or flat at best. Our share of that decline depends on the actions we take with our capital structure, performance, productivity and sustainability. If we do nothing, we are likely to see around 12-20% decline by 2030 based on the scenarios we have modelled. Protecting a strong New Zealand farmer-owned Co-operative of scale is in all of New Zealand’s interests.”

Right now these moves feel optimistic: the milk solid price per kilo is heading for $9.00 and will sustain a South Island + Waikato + Taranaki boom through 2022. But we’re not in an agricultural stress test like we were a decade ago, which is where these capital-defensive proposals really matter.

The democratic thresholds to changing Fonterra’s capital structure are high: for the proposal to be approved, it would require 50% support from the Co-operative Council (which is made up of representatives elected by farmers), followed by 75% support from eligible farmers at this week’s AGM.

Fonterra’s voting thresholds, and its consultation requirements, are higher than anything our Parliament does. Given the impact on New Zealand as a whole, it is an important set of votes to watch.

Fonterra are pretty confident in the result coming up.

The interesting staging of this vote now means that the policy and political debate about its impact on Fonterra and the Dairy Industry Reform Act will play out in the first half of 2022.

Fonterra are aiming to have this all tidied up by June 1 2022. Not gunna.

In the note Fonterra put out yesterday, they are clear that “Government is not in a position to support DIRA changes to facilitate the proposal at this stage, but understands the Government was to work together to reach an outcome that works for both parties. Fonterra is confident there is a regulatory framework that would support the Flexible Shareholding structure.”

It’s smart politics for the Minister to first let Fonterra gain its owner shareholder mandate, before he steps in with a view on it in terms of the legislation. That stops the mess the last time Fonterra tried this in 2012. It’s also showing the government to have a more active role in Fonterra than before. Vital.

The likelihood that in the next 6 months this share ownership debate will spill over into the water reforms and the RMA reforms is high. Whether or not that’s pertinent to who owns what shares in Fonterra, more permanent policy scrutiny of Fonterra will pull the NZ politics of Fonterra more out into the open.

32 comments on “Fonterra’s Capital Restructure ”

  1. Tiger Mountain 1

    There is relative truth in “where Milk Supertanker Fonterra goes, we go”–but the dialectic is that it is always up for change, particularly as we are in the age of tipping points, some already passed, and others approaching.

    ADVANTAGE could appear to have delivered a TINA post, but the reality of eventual flattening, and shrinkage even! for the “Milk Powder Republic” is admitted in Fonterra’s own statements. The NZ Dairy Workers Union Te Runanga Wai U, in its November 2021 magazine, said “the national dairy herd is set to reduce by 15% over the next 5-10 years” as they looked at plans by corporate players for two new Waikato dairy factories in Ōtorohanga and Tokoroa.

    Fonterra knows the game is up and is rearranging things for the most profitable outcome regardless. Less water hogging, less ECAN debacles, less bloody nitrogen put on land in the first place perhaps.

    The overseas adventures in Mexico and South America and various other places and acquisitions etc. did not achieve international cut through or dominance as perhaps originally envisaged. It is a changed world people. I eat plant based burgers these days, and they are getting pretty damn good.

  2. Simbit 2

    I saw 122 comments on the National party reshuffle and only 1 in this. Thought I'd try and redress the imbalance, picking up on the interplay of capital and labour noted above. Value can flip pretty quickly. I've had plant based burgers too, and will have more going forward. Someone told me of a joint that serves up cricket burgers. I'm in Canterbury and have a growing disdain for ECan, and the dairy sector. Years of mismanagement of strategic resources (water, soil, public support) put a key national earner at high risk. Ironically, and giving a nod to the 122 comments on the Queen's opposition, it may well be a National led govt that gets the hospital pass as global capitalists try and squeeze labor and the environment to breaking point.

  3. Blazer 3

    Fonterra is an anathema to free markets.

    It is an attempt at monopoly…and is a failing construct.

    The cry was for 'value added'….then it wasn't…!

    Stick to the knitting…today lets produce bulk products in the most efficient manner.

    Hire international 'talent'….$40 million later ,Theo Spering departs after overseeing a billion or so in losses.

    Be surprised if it exists in 10 years.

    Plant based substitutes will devour this industry imo.

    • ghostwhowalksnz 3.1

      Why switch from milk produced from sunlight and grass and water to highly industralised synthetic plant based substitutes- hint it doesnt grow like that

      The dairy cows only to the works to make hamburger patties after their milking days are over

  4. vto 4

    If I might correct an incorrect assumption held by so very many New Zealanders about the size of dairy and agriculture and its effect on us… "where Milk Supertanker Fonterra goes, we go"

    Dairy is only 3.5% of our gdp

    Agriculture in total is only 5.5% of our gdp

    Industry on the other hand is 20%, services 65%, construction 5%

    Agriculture and dairy are not the behemoths we are told. In fact they could shrink substantially and we would be fine. In fact, like the disappearance of the foreign tourism, it may in fact be that we would be better off as those resources, people and money tied up in inefficient agri and dairy (low-paid workers etc) get re-tasked to more efficient and valuable activities.

    Imo 90% of agri should be canned (the 90% that gets exported). Imagine the boost to our environment. Imagine our recovered landscape. Imagine…

    I know… heresy… but lets look at the hard facts.

    Agriculture and dairy are way overblown. Waayyy overblown…

    • Ad 4.1

      This one business is still 80% of our dairy industry.

      Dairy contributes $7.8b to our GDP, comprising dairy farming $6b and dairy processing $1.8b.

      Dairy is our largest goods export sector at over $15b and rising.

      Dairy accounts for more than 1 in 4 goods export dollars coming into New Zealand. Yup 25% of our goods exported.

      Dairy export growth has averaged 7.2% per year over 26 years.

      Dairy exports are 200% more than the meat sector, and almost 4X as much as the wood products sector, and 9X bigger than the wine sector.

      Other sectors like export education and tourism have now just fallen away.

      The dairy sector employs over 40,000 of us: 27,500 on farm and 13,000 in processing. And dairy employment has grown more than 2X as fast as total employment at an average of 3.7% per year.

      The dairy sector accounts for 15% of Southland's economy, 11% of Waikato's economy, 12% of the West Coast (likely more now after tourism's collapse), and 8% of Taranaki's economy.

      And it is Fonterra that supports 80% of all of it.

      Just a few of the reasons we need a strong policy lens over it are well traversed here:
      https://www.productivity.govt.nz/assets/Inquiries/frontier-firms/a977484e51/The-dairy-sector-in-NZ-TDB-Advisory.pdf

      • ghostwhowalksnz 4.1.1

        Dairy processing only $1.8 bill ?

        Fonterra is a $20 bill revenue business ( incl both Cooperative and Ltd business)

        Even if you take the dairy farmers milk payments out of that ($13 bill as its a Cooperative ) still leaves $7 bill for the added value of processing not $1.8 bill

      • vto 4.1.2

        Thanks Ad, I understand all those other statistic, damn statistics and lies… as they say… and also that within the small dairy industry it is a heavyweight, but that is all relative. In the same way Fletchers proportion of the construction sector.

        but dairy is still only 3.5% of gdp.

        it is no bigger than anything else

        • Ad 4.1.2.1

          Wishing for a replacement to the dairy industry doesn't make it happen.

          And it isn't going to happen.

          The post is about Fonterra's ownership.

          • vto 4.1.2.1.1

            Yes, sure, and I commented on your second sentence.

            One thing I always note to people about Fonterra ownership is that it is a full blown socialist model.. while most all farmers decry socialism… bahahahaha…

            talk about head in the sand

            if they can't understand the basics it is no wonder that they keep getting things wrong

            • ghostwhowalksnz 4.1.2.1.1.1

              Good point. They all receive the same farm gate milk price wheter they are in same town as the milk plant or 75 km away.

              The type of ownership- a cooperative- I think predates the 'invention of socialism'

      • Patricia Bremner 4.1.3

        Both of you are right to a degree, but Ad, no bottom line for Dairy is included for environmental damage and contribution to climate change. That is looming, and what was the sector's reply? "tractors through towns" and cries of "Too many regulations too fast".
        Farming on marginal land is a real problem.
        Like Covid deniers we have some Farming practice deniers.

        • Ad 4.1.3.1

          The post doesn't deny any farming practise at all. I specified clearly what it was covering.

          It does point to Fonterra's ownership and the need for sustained policy engagement.

  5. Blazer 5

    We export' over 5billion annually to aussie banks!

    Dairy is 3.5% of GDP-property 42% (recent report).

    I was horrified to learn dairy could not survive without importing foreign,mainly Philipino workers!

    Surely there are young kiwis out there who would embrace farm work with decent pay.

    Christopher 7 said on Q&A,that he was not in favour of lowering herd numbers.

    The impact of this industry on our water ways and emmissions need more attention.

    • Ad 5.1

      Have you been to Southland recently?

      Dairy farm workers are on average the best paid farm workers.

      • Blazer 5.1.1

        I thought Southland was a problem area.

        Land not really suited, converted to dairy with huge irrigation systems.

        If farm workers are generally poorly paid,being the best paid of that sector ,doesn't really say much…at all.

        • Ad 5.1.1.1

          You sound a bit out of touch with what workers are paid here.

          Go down to Southland and ask them what the dairy industry means to them. Take a look around.

          • Blazer 5.1.1.1.1

            Well put me in touch…how much are they..paid?

            • Ad 5.1.1.1.1.1

              According to the New Zealand government website on dairy careers:

              – Dairy farm assistants get between $42k and $80k per year

              – Assistant dairy herd managers between $48k and $88k

              – Dairy herd managers $51k – $90k

              – Dairy farm managers $61k – $160k

              – Operations managers for multiple farms $66k to $160k

              – Sharemilkers are the next step above that

              – Then there's farmers with herds … which is where the discussion about Fonterra shares comes in

              Dairy Farmer (careers.govt.nz)

              • KJT

                Until recently local youngsters were competing with 15 Philippines per cow shed, for working 70 hours a week at the minimum wage for 40 hours.

                Don't even get me started in the real life stories I have about how local kids were treated by farm employers. I have several pages of them.

                • Ad

                  Agree. Not that I would dare call something so harmful as COVID an economic blessing in disguise.

                  • KJT

                    I had to bite my tongue on my thoughts of "good on them" when one of the more exploitative local cockies was moaning about his Phillipino workers leaving for "greener pastures" elsewhere in NZ. When the requirements to stay with the same employer were relaxed.

              • Blazer

                So entry level is just over $20 an hour @40 hours a week.-$807 b4 tax weekly.

              • pat

                As KJT says..when looking at those declared salaries start asking the hard questions….how many hours, what rotation. how much charged for accomodation, etc?

                Theres a very good reason why the bulk of dairy farm labour are migrants

          • Hunter Thompson II 5.1.1.1.2

            For a reality check, look at the excellent TV doco "Milk and Money" by Baz Macdonald (it's on demand and Facebook).

            Some real issues there, Southland included, which the blarney over Three Waters has obscured.

            • ghostwhowalksnz 5.1.1.1.2.1

              3 waters excludes the '4th water' which is streams and rivers in rural areas.

                • ghostwhowalksnz

                  I would think a river or stream isnt a 'stormwater system'

                  Stormwater systems are more complex than drinking water or wastewater systems. Most stormwater systems are made up of both a dedicated reticulated stormwater network and above ground, secondary, and overland flow paths.

                  I would see it as the man made systems, not the natural ones, but the stormwater would end up in streams – rivers-bays but isnt owned by a council

  6. Ian 6

    A lot of you guys need to escape your echo chamber and learn some facts about Fonterra and the farmer shareholders that own it.

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    4 days ago
  • Elections in Russia and Ukraine
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    4 days ago
  • Bernard’s six stack of substacks at 6pm on March 15
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    The KakaBy Bernard Hickey
    4 days ago
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    Point of OrderBy Bob Edlin
    4 days ago
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    No Right TurnBy Idiot/Savant
    4 days ago
  • Government funding bailouts
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    Point of OrderBy poonzteam5443
    4 days ago
  • Two offenders, different treatments.
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    KiwipoliticoBy Pablo
    4 days ago
  • Treaty references omitted
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    Point of OrderBy poonzteam5443
    4 days ago
  • The Ghahraman Conflict
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    Point of OrderBy poonzteam5443
    4 days ago
  • Bernard's Top 10 @ 10 'pick 'n' mix' for March 15
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    The KakaBy Bernard Hickey
    4 days ago
  • The day Wellington up-zoned its future
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    The KakaBy Bernard Hickey
    4 days ago
  • Weekly Roundup 15-March-2024
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    Greater AucklandBy Greater Auckland
    4 days ago
  • That Word.
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    Nick’s KōreroBy Nick Rockel
    5 days ago
  • The Hoon around the week to March 15
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    The KakaBy Bernard Hickey
    5 days ago
  • Labour’s policy gap
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    PolitikBy Richard Harman
    5 days ago
  • Skeptical Science New Research for Week #11 2024
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    5 days ago
  • Melissa remains mute on media matters but has something to say (at a sporting event) about economic ...
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    Point of OrderBy Bob Edlin
    5 days ago
  • The return of Muldoon
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    No Right TurnBy Idiot/Savant
    5 days ago
  • Will the rental tax cut improve life for renters or landlords?
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    Point of OrderBy poonzteam5443
    5 days ago
  • Geoffrey Miller: What Saudi Arabia’s rapid changes mean for New Zealand
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    Democracy ProjectBy Geoffrey Miller
    5 days ago
  • Racism’s double standards
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    Point of OrderBy poonzteam5443
    5 days ago
  • It’s not a tax break
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    Point of OrderBy poonzteam5443
    5 days ago
  • The Plastic Pig Collective and Chris' Imaginary Friends.
    I can't remember when it was goodMoments of happiness in bloomMaybe I just misunderstoodAll of the love we left behindWatching our flashbacks intertwineMemories I will never findIn spite of whatever you becomeForget that reckless thing turned onI think our lives have just begunI think our lives have just begunDoes anyone ...
    Nick’s KōreroBy Nick Rockel
    5 days ago
  • Who is responsible for young offenders?
    Michael Bassett writes – At first reading, a front-page story in the New Zealand Herald on 13 March was bizarre. A group of severely intellectually limited teenagers, with little understanding of the law, have been pleading to the Justice Select Committee not to pass a bill dealing with ram ...
    Point of OrderBy poonzteam5443
    5 days ago
  • Gordon Campbell on National’s fantasy trip to La La Landlord Land
    How much political capital is Christopher Luxon willing to burn through in order to deliver his $2.9 billion gift to landlords? Evidently, Luxon is: (a) unable to cost the policy accurately. As Anna Burns-Francis pointed out to him on Breakfast TV, the original ”rock solid” $2.1 billion cost he was ...
    5 days ago
  • Bernard's Top 10 @ 10 'pick 'n' mix' for March 14
    TL;DR: My top 10 news and analysis links this morning include:Today’s must-read: Jonathon Porritt calling bullshit in his own blog post on mainstream climate science as ‘The New Denialism’.Local scoop: The Wellington City Council’s list of proposed changes to the IHP recommendations to be debated later today was leaked this ...
    The KakaBy Bernard Hickey
    5 days ago
  • No, Prime Minister, rents don’t rise or fall with landlords’ costs
    TL;DR: Prime Minister Christopher Luxon said yesterday tenants should be grateful for the reinstatement of interest deductibility because landlords would pass on their lower tax costs in the form of lower rents. That would be true if landlords were regulated monopolies such as Transpower or Auckland Airport1, but they’re not, ...
    The KakaBy Bernard Hickey
    5 days ago
  • Cartoons: ‘At least I didn’t make things awkward’
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  • Solving traffic congestion with Richard Prebble
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    Greater AucklandBy Patrick Reynolds
    5 days ago
  • I Think I'm Done Flying Boeing
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    6 days ago
  • Invoking Aristotle: Of Rings of Power, Stones, and Ships
    The first season of Rings of Power was not awful. It was thoroughly underwhelming, yes, and left a lingering sense of disappointment, but it was more expensive mediocrity than catastrophe. I wrote at length about the series as it came out (see the Review section of the blog, and go ...
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  • Van Velden brings free-market approach to changing labour laws – but her colleagues stick to distr...
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    Point of OrderBy Bob Edlin
    6 days ago
  • Why Newshub failed
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    Point of OrderBy poonzteam5443
    6 days ago
  • Māori Party on the warpath against landlords and seabed miners – let’s see if mystical creature...
    Bob Edlin writes  –  The Māori Party has been busy issuing a mix of warnings and threats as its expresses its opposition to interest deductibility for landlords and the plans of seabed miners. It remains to be seen whether they  follow the example of indigenous litigants in Australia, ...
    Point of OrderBy Bob Edlin
    6 days ago
  • There’s a name for this
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    No Right TurnBy Idiot/Savant
    6 days ago

  • Government moves to quickly ratify the NZ-EU FTA
    "The Government is moving quickly to realise an additional $46 million in tariff savings in the EU market this season for Kiwi exporters,” Minister for Trade and Agriculture, Todd McClay says. Parliament is set, this week, to complete the final legislative processes required to bring the New Zealand – European ...
    BeehiveBy beehive.govt.nz
    2 hours ago
  • Positive progress for social worker workforce
    New Zealand’s social workers are qualified, experienced, and more representative of the communities they serve, Social Development and Employment Minister Louise Upston says. “I want to acknowledge and applaud New Zealand’s social workers for the hard work they do, providing invaluable support for our most vulnerable. “To coincide with World ...
    BeehiveBy beehive.govt.nz
    7 hours ago
  • Minister confirms reduced RUC rate for PHEVs
    Cabinet has agreed to a reduced road user charge (RUC) rate for plug-in hybrid electric vehicles (PHEVs), Transport Minister Simeon Brown says. Owners of PHEVs will be eligible for a reduced rate of $38 per 1,000km once all light electric vehicles (EVs) move into the RUC system from 1 April.  ...
    BeehiveBy beehive.govt.nz
    9 hours ago
  • Trade access to overseas markets creates jobs
    Minister of Agriculture and Trade, Todd McClay, says that today’s opening of Riverland Foods manufacturing plant in Christchurch is a great example of how trade access to overseas markets creates jobs in New Zealand.  Speaking at the official opening of this state-of-the-art pet food factory the Minister noted that exports ...
    BeehiveBy beehive.govt.nz
    9 hours ago
  • NZ and Chinese Foreign Ministers hold official talks
    Minister of Foreign Affairs Winston Peters met with Chinese Foreign Minister Wang Yi in Wellington today. “It was a pleasure to host Foreign Minister Wang Yi during his first official visit to New Zealand since 2017. Our discussions were wide-ranging and enabled engagement on many facets of New Zealand’s relationship with China, including trade, ...
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    23 hours ago
  • Kāinga Ora instructed to end Sustaining Tenancies
    Kāinga Ora – Homes & Communities has been instructed to end the Sustaining Tenancies Framework and take stronger measures against persistent antisocial behaviour by tenants, says Housing Minister Chris Bishop. “Earlier today Finance Minister Nicola Willis and I sent an interim Letter of Expectations to the Board of Kāinga Ora. ...
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    1 day ago
  • Speech to Auckland Business Chamber: Growth is the answer
    Tēna koutou katoa. Greetings everyone. Thank you to the Auckland Chamber of Commerce and the Honourable Simon Bridges for hosting this address today. I acknowledge the business leaders in this room, the leaders and governors, the employers, the entrepreneurs, the investors, and the wealth creators. The coalition Government shares your ...
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    3 days ago
  • Singapore rounds out regional trip
    Minister Winston Peters completed the final leg of his visit to South and South East Asia in Singapore today, where he focused on enhancing one of New Zealand’s indispensable strategic partnerships.      “Singapore is our most important defence partner in South East Asia, our fourth-largest trading partner and a ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Minister van Velden represents New Zealand at International Democracy Summit
    Minister of Internal Affairs and Workplace Relations and Safety, Hon. Brooke van Velden, will travel to the Republic of Korea to represent New Zealand at the Third Summit for Democracy on 18 March. The summit, hosted by the Republic of Korea, was first convened by the United States in 2021, ...
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    4 days ago
  • Insurance Council of NZ Speech, 7 March 2024, Auckland
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    4 days ago
  • Five-year anniversary of Christchurch terror attacks
    Prime Minister Christopher Luxon and Lead Coordination Minister Judith Collins have expressed their deepest sympathy on the five-year anniversary of the Christchurch terror attacks. “March 15, 2019, was a day when families, communities and the country came together both in sorrow and solidarity,” Mr Luxon says.  “Today we pay our respects to the 51 shuhada ...
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    4 days ago
  • Speech for Financial Advice NZ Conference 5 March 2024
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    4 days ago
  • Early visit to Indonesia strengthens ties
    Foreign Minister Winston Peters held discussions in Jakarta today about the future of relations between New Zealand and South East Asia’s most populous country.   “We are in Jakarta so early in our new government’s term to reflect the huge importance we place on our relationship with Indonesia and South ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • China Foreign Minister to visit
    Deputy Prime Minister and Minister of Foreign Affairs Winston Peters has announced that the Foreign Minister of China, Wang Yi, will visit New Zealand next week.  “We look forward to re-engaging with Foreign Minister Wang Yi and discussing the full breadth of the bilateral relationship, which is one of New Zealand’s ...
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    5 days ago
  • Minister opens new Auckland Rail Operations Centre
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    5 days ago
  • Celebrating 10 years of Crankworx Rotorua
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    5 days ago
  • Government delivering on tax commitments
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    5 days ago
  • Significant Natural Areas requirement to be suspended
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    5 days ago
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    5 days ago
  • Government partnership to tackle $332m facial eczema problem
    The Government is helping farmers eradicate the significant impact of facial eczema (FE) in pastoral animals, Agriculture Minister Todd McClay announced.  “A $20 million partnership jointly funded by Beef + Lamb NZ, the Government, and the primary sector will save farmers an estimated NZD$332 million per year, and aims to ...
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    5 days ago
  • NZ, India chart path to enhanced relationship
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    6 days ago
  • Ruapehu Alpine Lifts bailout the last, say Ministers
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    6 days ago
  • Govt takes action to drive better cancer services
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    6 days ago
  • Govt takes action to drive better cancer services
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    BeehiveBy beehive.govt.nz
    6 days ago
  • Work begins on SH29 upgrades near Tauriko
    Unlocking economic growth and land for housing are critical elements of the Government’s plan for our transport network, and planned upgrades to State Highway 29 (SH29) near Tauriko will deliver strongly on those priorities, Transport Minister Simeon Brown says. “The SH29 upgrades near Tauriko will improve safety at the intersections ...
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    6 days ago
  • Work begins on SH29 upgrades near Tauriko
    Unlocking economic growth and land for housing are critical elements of the Government’s plan for our transport network, and planned upgrades to State Highway 29 (SH29) near Tauriko will deliver strongly on those priorities, Transport Minister Simeon Brown says. “The SH29 upgrades near Tauriko will improve safety at the intersections ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Fresh produce price drop welcome
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    6 days ago
  • Statement to the 68th United Nations Commission on the Status of Women
    Tēnā koutou katoa and greetings to you all.  Chair, I am honoured to address the sixty-eighth session of the Commission on the Status of Women. I acknowledge the many crises impacting the rights of women and girls. Heightened global tensions, war, climate related and humanitarian disasters, and price inflation all ...
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  • Speech to the 68th United Nations Commission on the Status of Women (CSW68)
    Tēnā koutou katoa and greetings to you all.  Chair, I am honoured to address the 68th session of the Commission on the Status of Women. I acknowledge the many crises impacting the rights of women and girls. Heightened global tensions, war, climate related and humanitarian disasters, and price inflation all ...
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    6 days ago
  • Government backs rural led catchment projects
    The coalition Government is supporting farmers to enhance land management practices by investing $3.3 million in locally led catchment groups, Agriculture Minister Todd McClay announced. “Farmers and growers deliver significant prosperity for New Zealand and it’s vital their ongoing efforts to improve land management practices and water quality are supported,” ...
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    6 days ago
  • Speech to Auckland Business Chamber
    Good evening everyone and thank you for that lovely introduction.   Thank you also to the Honourable Simon Bridges for the invitation to address your members. Since being sworn in, this coalition Government has hit the ground running with our 100-day plan, delivering the changes that New Zealanders expect of us. ...
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    1 week ago
  • Commission’s advice on ETS settings tabled
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    1 week ago
  • Government lowering building costs
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    1 week ago
  • Trustee tax change welcomed
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    1 week ago
  • Minister’s Ramadan message
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    1 week ago
  • Minister appoints new NZTA Chair
    Former Transport Minister and CEO of the Auckland Business Chamber Hon Simon Bridges has been appointed as the new Board Chair of the New Zealand Transport Agency (NZTA) for a three-year term, Transport Minister Simeon Brown announced today. “Simon brings extensive experience and knowledge in transport policy and governance to the role. He will ...
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    1 week ago
  • Speech to Life Sciences Summit
    Good morning all, it is a pleasure to be here as Minister of Science, Innovation and Technology.  It is fantastic to see how connected and collaborative the life science and biotechnology industry is here in New Zealand. I would like to thank BioTechNZ and NZTech for the invitation to address ...
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    1 week ago
  • Progress continues apace on water storage
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    1 week ago
  • Government agrees to restore interest deductions
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    1 week ago
  • Minister to attend World Anti-Doping Agency Symposium
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    BeehiveBy beehive.govt.nz
    1 week ago

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