How low will they go?
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11:53 am, February 20th, 2012 - 11 comments
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The Nats are looking to Queensland for lessons in privatisation. They want to see how incentives for locals to hold on to their shares work. But you don’t pay for incentives with magic beans. Any incentives for the few locals who can afford to buy shares just means a diminished return to the government, making the economic and fiscal rationale for selling even weaker.
When Queensland sold its railways in 2010, they offered shares to locals at $2.45 compared to $2.55 for institutional buyers – a 4% discount for ‘mum and dad’ investors. Now, say National did the same and half the shares they sold went to ‘mum and dad’ (not most mums and dads, of course, the mums and dads with a few spare G laying around). A 4% discount on half of $5.2 billion (the book value of the shares to be sold, note the difference from English’s $6 billion “guess”). Well, there’s $100 million down the drain just there.
Then, the Queensland government told locals that they would get one bonus share for every 15 they own if they held on to them for a year – a 6% bonus. That’s $150 million.
Just those two incentives, which, at best would see a few hundred thousand wealthy Kiwis own shares for a year and a day, could cost a quarter of a billion dollars. I didn’t see that number in English’s dodgy sums last week.
After the Queensland government sold the 60% stake in QR National, the shares rapidly appreciated in a matter of months from $2.45/$2.55 at launch to around $3.50. That was hailed as a ‘win-win’ but common sense tells you it was still the same company before the sale and a few months later, just the float price was 30% below true value.
The Nats will very likely go for a low price on the initial share float, too. They will view it as politically important to have a well-oversubscribed float with lots of ‘mum and dad’ wannabe buyers (‘see, everyone loves privatisation, we can’t sell enough of these shares!’), which means s float price well below the market clearing price. Loss for you and me as owners of public assets – slight political point for National. Cost: $1.5 billion if the float price is 30% under market price.
And when the value of the government’s 51% climbs as the shares go to their true value, the Nats can claim to have made a profit thanks to the ‘efficiencies of mixed ownership model’, when all they’ve really done is sell the other 49% too cheap.
So, if National imitates Queensland’s sale ‘incentives’ it could wipe $1.75 billion off the net proceeds of the sales. That’s $3.5 billion the government would actually get to bank at the end of the process. Maybe that’s why Treasury has only let National book $3.86 billion in sales revenue in the Budget documents, not the $6 billion that English made up last week (check it out in the PREFU p91, they call it ‘balancesheet funding’).
Is $3.5 billion net a good price for 49% of our energy companies and a hunk of Air New Zealand that, combined, returned $2.1 billion in dividends to the taxpayer in the last six years, not to mention retained profits?
Doesn’t seem like it from here. Which raises a question: what is the minimum net return that National is prepared to sell for? Is there one? Or are they determined to sell our assets no matter what because this is about ideology, not good government?
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- Release: Quick, submit – stop Govt’s dodgy approvals billThe Government is trying to bring in a law that will allow Ministers to cut corners and kill off native species, Labour environment spokesperson Rachel Brooking said. ...2 weeks ago
- Government throws coal on the climate crisis fireThe Government’s policy announced today to ease consenting for coal mining will have a lasting impact across generations. ...2 weeks ago
- Release: Public transport costs to double as National looks at unaffordable roading project insteadCancelling urgently needed new Cook Strait ferries and hiking the cost of public transport for many Kiwis so that National can announce the prospect of another tunnel for Wellington is not making good choices, Labour Transport Spokesperson Tangi Utikere said. ...2 weeks ago
- Release: Cost of living in Auckland still not a priorityA laundry list of additional costs for Tāmaki Makarau Auckland shows the Minister for the city is not delivering for the people who live there, says Labour Auckland Issues spokesperson Shanan Halbert. ...2 weeks ago
- Te Pāti Māori to visit Queensland to strengthen ties with Māori in AustraliaTe Pāti Māori co-leader Rawiri Waititi, and Mema Paremata mō Tāmaki-Makaurau, Takutai Tarsh Kemp, will travel to the Gold Coast to strengthen ties with Māori in Australia next week (15-21 April). The visit, in the lead-up to the 9th Australian National Kapa haka Festival, will be an opportunity for both ...2 weeks ago
- Greens look to fast-track submissions on harmful lawThe Green Party has today launched a step-by-step guide to help New Zealanders make their voice heard on the Government’s democracy dodging and anti-environment fast track legislation. ...2 weeks ago
- Release: Govt should stop making people’s lives harder and build more homesThe National Government’s proposed changes to the Residential Tenancies Act will mean tenants can be turfed from their homes by landlords with little notice, Labour housing spokesperson Kieran McAnulty said. ...2 weeks ago
- Release: Melissa Lee missing in action on mediaThe action Melissa Lee promised to protect democracy and the media sector is missing, Media and Communications spokesperson Willie Jackson said. ...2 weeks ago
- Landlord Government leaves little hope for rentersThe Government’s announcement on tenancy rules prove that it does not care about renters. ...2 weeks ago
- Opportunity to build a more sustainable economyGreen Party co-leader Marama Davidson is calling on all parties to support a common-sense change that’s great for the planet and great for consumers after her member’s bill was drawn from the ballot today. ...2 weeks ago
- Significant step forward in fixing cruel and unjust pastA significant milestone has been reached in the fight to strike an anti-Pasifika and unfair law from the country’s books after Teanau Tuiono’s members’ bill passed its first reading. ...2 weeks ago
- Missed opportunity but NZ will surely one day recognise the right to a sustainable environmentNew Zealand has today missed the opportunity to uphold the right to a clean, healthy, and sustainable environment, says James Shaw after his member’s bill was voted down in its first reading. ...2 weeks ago
- Release: Don’t cut our lunches – clear message sent to GovernmentTens of thousands of people are demanding the Government commits to fully funding free and healthy school lunches. ...3 weeks ago
- Release: Govt makes U-turn on Suicide Prevention OfficeLabour welcomes the Government’s U-turn on the closure of the Suicide Prevention Office, says Labour Mental Health spokesperson Ingrid Leary. ...3 weeks ago
- CCC issues warning over further climate delayToday’s advice from the Climate Change Commission paints a sobering reality of the challenge we face in combating climate change, especially in light of recent Government policy announcements. ...3 weeks ago
- Luxon targets lame and lousy example of leadershipIf talk is cheap, Chris Luxon’s “targets” are bankrupt. ...3 weeks ago
- Luxon targets are lousy example of leadershipIf talk is cheap, Chris Luxon’s “targets” are bankrupt. ...3 weeks ago
- Release: Commitment to disability communities missing from Govt prioritiesMinister for Disability Issues Penny Simmonds appears to have delayed a report back to Cabinet on the progress New Zealand is making against international obligations for disabled New Zealanders. ...3 weeks ago
- Taking action on Fetal Alcohol Spectrum Disorder
Hundreds 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, ...14 hours 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 ...16 hours 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 ...19 hours 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 day 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 days 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 days 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 ...4 days ago
- New catch limits for unique fishery areasRecreational catch limits will be reduced in areas of Fiordland and the Chatham Islands to help keep those fisheries healthy and sustainable, Oceans and Fisheries Minister Shane Jones says. The lower recreational daily catch limits for a range of finfish and shellfish species caught in the Fiordland Marine Area and ...4 days ago
- Minister welcomes hydrogen milestoneEnergy Minister Simeon Brown has welcomed an important milestone in New Zealand’s hydrogen future, with the opening of the country’s first network of hydrogen refuelling stations in Wiri. “I want to congratulate the team at Hiringa Energy and its partners K one W one (K1W1), Mitsui & Co New Zealand ...4 days ago
- Urgent changes to system through first RMA Amendment BillThe coalition Government is delivering on its commitment to improve resource management laws and give greater certainty to consent applicants, with a Bill to amend the Resource Management Act (RMA) expected to be introduced to Parliament next month. RMA Reform Minister Chris Bishop has today outlined the first RMA Amendment ...5 days ago
- Overseas decommissioning models consideredOverseas models for regulating the oil and gas sector, including their decommissioning regimes, are being carefully scrutinised as a potential template for New Zealand’s own sector, Resources Minister Shane Jones says. The Coalition Government is focused on rebuilding investor confidence in New Zealand’s energy sector as it looks to strengthen ...5 days ago
- Release of North Island Severe Weather Event InquiryEmergency Management and Recovery Minister Mark Mitchell has today released the Report of the Government Inquiry into the response to the North Island Severe Weather Events. “The report shows that New Zealand’s emergency management system is not fit-for-purpose and there are some significant gaps we need to address,” Mr Mitchell ...5 days ago
- Justice Minister to attend Human Rights CouncilJustice Minister Paul Goldsmith is today travelling to Europe where he’ll update the United Nations Human Rights Council on the Government’s work to restore law and order. “Attending the Universal Periodic Review in Geneva provides us with an opportunity to present New Zealand’s human rights progress, priorities, and challenges, while ...5 days ago
- Patterson reopens world’s largest wool scouring facilityAssociate Agriculture Minister, Mark Patterson, formally reopened the world’s largest wool processing facility today in Awatoto, Napier, following a $50 million rebuild and refurbishment project. “The reopening of this facility will significantly lift the economic opportunities available to New Zealand’s wool sector, which already accounts for 20 per cent of ...5 days ago
- Speech to the Southland Otago Regional Engineering Collective Summit, 18 April 2024Hon Andrew Bayly, Minister for Small Business and Manufacturing At the Southland Otago Regional Engineering Collective (SOREC) Summit, 18 April, Dunedin Ngā mihi nui, Ko Andrew Bayly aho, Ko Whanganui aho Good Afternoon and thank you for inviting me to open your summit today. I am delighted ...5 days ago
- Government to introduce revised Three Strikes lawThe Government is delivering on its commitment to bring back the Three Strikes legislation, Associate Justice Minister Nicole McKee announced today. “Our Government is committed to restoring law and order and enforcing appropriate consequences on criminals. We are making it clear that repeat serious violent or sexual offending is not ...5 days ago
- New diplomatic appointmentsForeign Minister Winston Peters has today announced four new diplomatic appointments for New Zealand’s overseas missions. “Our diplomats have a vital role in maintaining and protecting New Zealand’s interests around the world,” Mr Peters says. “I am pleased to announce the appointment of these senior diplomats from the ...6 days ago
- Humanitarian support for Ethiopia and SomaliaNew Zealand is contributing NZ$7 million to support communities affected by severe food insecurity and other urgent humanitarian needs in Ethiopia and Somalia, Foreign Minister Rt Hon Winston Peters announced today. “Over 21 million people are in need of humanitarian assistance across Ethiopia, with a further 6.9 million people ...6 days ago
- Arts Minister congratulates Mataaho CollectiveMinister for Arts, Culture and Heritage Paul Goldsmith is congratulating Mataaho Collective for winning the Golden Lion for best participant in the main exhibition at the Venice Biennale. "Congratulations to the Mataaho Collective for winning one of the world's most prestigious art prizes at the Venice Biennale. “It is good ...6 days ago
- Supporting better financial outcomes for KiwisThe Government is reforming financial services to improve access to home loans and other lending, and strengthen customer protections, Commerce and Consumer Affairs Minister Andrew Bayly and Housing Minister Chris Bishop announced today. “Our coalition Government is committed to rebuilding the economy and making life simpler by cutting red tape. We are ...7 days ago
- Trade relationship with China remains strong“China remains a strong commercial opportunity for Kiwi exporters as Chinese businesses and consumers continue to value our high-quality safe produce,” Trade and Agriculture Minister Todd McClay says. Mr McClay has returned to New Zealand following visits to Beijing, Harbin and Shanghai where he met ministers, governors and mayors and engaged in trade and agricultural events with the New ...7 days ago
- PM’s South East Asia mission does the businessPrime Minister Christopher Luxon has completed a successful trip to Singapore, Thailand and the Philippines, deepening relationships and capitalising on opportunities. Mr Luxon was accompanied by a business delegation and says the choice of countries represents the priority the New Zealand Government places on South East Asia, and our relationships in ...1 week ago
- $41m to support clean energy in South East AsiaNew Zealand is demonstrating its commitment to reducing global greenhouse emissions, and supporting clean energy transition in South East Asia, through a contribution of NZ$41 million (US$25 million) in climate finance to the Asian Development Bank (ADB)-led Energy Transition Mechanism (ETM). Prime Minister Christopher Luxon and Climate Change Minister Simon Watts announced ...1 week ago
- Minister releases Fast-track stakeholder listThe Government is today releasing a list of organisations who received letters about the Fast-track applications process, says RMA Reform Minister Chris Bishop. “Recently Ministers and agencies have received a series of OIA requests for a list of organisations to whom I wrote with information on applying to have a ...1 week ago
- Judicial appointments announcedAttorney-General Judith Collins today announced the appointment of Wellington Barrister David Jonathan Boldt as a Judge of the High Court, and the Honourable Justice Matthew Palmer as a Judge of the Court of Appeal. Justice Boldt graduated with an LLB from Victoria University of Wellington in 1990, and also holds ...1 week ago
- Education Minister heads to major teaching summit in SingaporeEducation Minister Erica Stanford will lead the New Zealand delegation at the 2024 International Summit on the Teaching Profession (ISTP) held in Singapore. The delegation includes representatives from the Post Primary Teachers’ Association (PPTA) Te Wehengarua and the New Zealand Educational Institute (NZEI) Te Riu Roa. The summit is co-hosted ...1 week ago
- Value of stopbank project proven during cycloneA stopbank upgrade project in Tairawhiti partly funded by the Government has increased flood resilience for around 7000ha of residential and horticultural land so far, Regional Development Minister Shane Jones says. Mr Jones today attended a dawn service in Gisborne to mark the end of the first stage of the ...1 week ago
- Anzac commemorations, Türkiye relationship focus of visitForeign Affairs Minister Winston Peters will represent the Government at Anzac Day commemorations on the Gallipoli Peninsula next week and engage with senior representatives of the Turkish government in Istanbul. “The Gallipoli campaign is a defining event in our history. It will be a privilege to share the occasion ...1 week ago
- Minister to Europe for OECD meeting, Anzac DayScience, Innovation and Technology and Defence Minister Judith Collins will next week attend the OECD Science and Technology Ministerial conference in Paris and Anzac Day commemorations in Belgium. “Science, innovation and technology have a major role to play in rebuilding our economy and achieving better health, environmental and social outcomes ...1 week ago
- Comprehensive Partnership the goal for NZ and the PhilippinesPrime Minister Christopher Luxon held a bilateral meeting today with the President of the Philippines, Ferdinand Marcos Jr. The Prime Minister was accompanied by MP Paulo Garcia, the first Filipino to be elected to a legislature outside the Philippines. During today’s meeting, Prime Minister Luxon and President Marcos Jr discussed opportunities to ...1 week ago
- Government commits $20m to Westport flood protectionThe Government has announced that $20 million in funding will be made available to Westport to fund much needed flood protection around the town. This measure will significantly improve the resilience of the community, says Local Government Minister Simeon Brown. “The Westport community has already been allocated almost $3 million ...1 week ago
- Taupō takes pole positionThe Government is proud to support the first ever Repco Supercars Championship event in Taupō as up to 70,000 motorsport fans attend the Taupō International Motorsport Park this weekend, says Economic Development Minister Melissa Lee. “Anticipation for the ITM Taupō Super400 is huge, with tickets and accommodation selling out weeks ...1 week ago
- Cost of living support for low-income homeownersLocal Government Minister Simeon Brown has announced an increase to the Rates Rebate Scheme, putting money back into the pockets of low-income homeowners. “The coalition Government is committed to bringing down the cost of living for New Zealanders. That includes targeted support for those Kiwis who are doing things tough, such ...1 week ago
- Government backing mussel spat projectThe Coalition Government is investing in a project to boost survival rates of New Zealand mussels and grow the industry, Oceans and Fisheries Minister Shane Jones has announced. “This project seeks to increase the resilience of our mussels and significantly boost the sector’s productivity,” Mr Jones says. “The project - ...1 week ago
- Government focused on getting people into workBenefit figures released today underscore the importance of the Government’s plan to rebuild the economy and have 50,000 fewer people on Jobseeker Support, Social Development and Employment Minister Louise Upston says. “Benefit numbers are still significantly higher than when National was last in government, when there was about 70,000 fewer ...1 week ago
- Clean energy key driver to reducing emissionsThe Government’s commitment to doubling New Zealand’s renewable energy capacity is backed by new data showing that clean energy has helped the country reach its lowest annual gross emissions since 1999, Climate Change Minister Simon Watts says. New Zealand’s latest Greenhouse Gas Inventory (1990-2022) published today, shows gross emissions fell ...1 week ago
- Earthquake-prone buildings review brought forwardThe Government is bringing the earthquake-prone building review forward, with work to start immediately, and extending the deadline for remediations by four years, Building and Construction Minister Chris Penk says. “Our Government is focused on rebuilding the economy. A key part of our plan is to cut red tape that ...1 week ago
- Thailand and NZ to agree to Strategic PartnershipPrime Minister Christopher Luxon and his Thai counterpart, Prime Minister Srettha Thavisin, have today agreed that New Zealand and the Kingdom of Thailand will upgrade the bilateral relationship to a Strategic Partnership by 2026. “New Zealand and Thailand have a lot to offer each other. We have a strong mutual desire to build ...1 week ago
- Government consults on extending coastal permits for portsRMA Reform Minister Chris Bishop and Transport Minister Simeon Brown have today announced the Coalition Government’s intention to extend port coastal permits for a further 20 years, providing port operators with certainty to continue their operations. “The introduction of the Resource Management Act in 1991 required ports to obtain coastal ...1 week ago
- Inflation coming down, but more work to doToday’s announcement that inflation is down to 4 per cent is encouraging news for Kiwis, but there is more work to be done - underlining the importance of the Government’s plan to get the economy back on track, acting Finance Minister Chris Bishop says. “Inflation is now at 4 per ...2 weeks ago
- Government urged to hit the gas on revamp of road user charges
Infrastructure New Zealand is pushing for new road user charges to be brought in quicker to help relieve pressure on strained transport funding. ...7 hours ago - US student Palestine protests against Israel’s war on Gaza inspire global action
Asia Pacific Report From France to Australia, university pro-Palestine protests in the United States have now spread to several countries with students pitching on-campus camps. And students at Columbia and other US universities remain defiant as campuses have witnessed the biggest protests since the anti-Vietnam war and anti-apartheid eras in ...9 hours ago - Former Te Whatu Ora chairperson Rob Campbell criticises Health NZ's 'savings' directi...Rob Campbell said it shows "poor management" and is "frankly irresponsible". ...11 hours ago
- ‘To lead is to serve’ – Governor-General to call PM election in Solomon IslandsRNZ Pacific The race to form the next government of Solomon Islands could be a tight one, with no single party emerging from the election with enough seats to govern. Caretaker prime minister Manasseh Sogavare’s Our Party did the best, securing 15 out of the 50 seats in the House. ...11 hours ago
- Bryce Edwards – FastTrackWatch: The Case for the Government’s Fast Track BillAnalysis by Dr Bryce Edwards, Democracy Project (https://democracyproject.nz) New Zealand Government’s Fast Track legislation. Many criticisms are being made of the Government’s Fast Track Approvals Bill, including by this writer. But as with everything in politics, every story has two sides, and both deserve attention. It’s important to understand what the Government ...12 hours ago
- NZ and Türkiye pledge cooperation during natural disastersThe two countries have "a long history of coming to each other's aid", including after the 2023 Turkish earthquakes, Winston Peters says. ...14 hours ago
- Waste not, want not: New series Food Waste Kitchen turns food trash into treasure
Tara Ward talks to presenter Naomi Toilalo about the new TV show that turns food waste into a three course feast. Naomi Toilalo is standing in the warehouse at Good Neighbour Tauranga, helping unpack the two-and-a-half tonnes of rejected food that will arrive at the community support hub that day. ...15 hours ago - Vaping regulations fight 'immeasurably harder' under coalition – campaignerFocus on Politics - Successive governments have claimed crack downs on youth vaping, but the bending and breaking of rules seems pervasive. ...15 hours ago
- Dog of the month: Scout, who is so independent she could be a catScout is our latest Dog of the Month. This feature was offered as a reward during our What’s Eating Aotearoa PledgeMe campaign. Thank you to Scout’s human, Avril, for her support. Dog name: Scout (named after the little girl in To Kill a Mockingbird – she inherited the independent spirit ...16 hours ago
- ‘I don’t know if we were brave or stupid’: Megan Alatini on changing reality TVMegan Alatini takes us through her life in TV, including ‘terrible’ daytime TV, the class of Carol Hirschfeld and her most embarrassing TrueBliss moment. When she responded to a vague newspaper ad asking “do you have what it takes to be a popstar?” 25 years ago, Megan Alatini never guessed ...16 hours ago
- Behind the counter: Wellington shopkeepersA new exhibition in Wellington showcases the faces behind your local goods and services. Back in 1977, when I was a fine arts student at the University of Canterbury, I took a series of photographs of Christchurch shopkeepers. The photos were for a calendar – a project for my end ...18 hours ago
- Iranian Solidarity Group New Zealand Condemns Toomaj Salehi's Death Sentence And The New Aggres...
Toomaj and his resistance to tyranny through his songs have become an icon for the youth of Iran, so his sentence has hit the nation hard. Toomaj Salehi is not the first artist to pay the price for standing with the people. ...19 hours ago - Short story: Calf Creek, by Anna Scaife
My cousin Dylan and I spotted these big eels under the bridge that summer. We watched them lounging under the dark weed, facing into the flow of water, their mouths frozen open. Dylan and I couldn’t stop thinking about those eels. The night we went down to the creek, we ...19 hours ago - Newsroom welcomes the Secret DiaryNewsroom, home of satire. My long-running weekly satirical series The Secret Diary has moved to Newsroom and will appear every Saturday, with Victor Billot’s wildly popular satirical Odes continuing to appear every Sunday. Diaries, Odes – while serious political columnists toil at meaningful opinions and stroke their chins to an ...19 hours ago
- I saw ‘The Sign’, and it opened up my eyes: All the fuss around Bluey, explainedTara Ward unravels the many nuanced layers of a cartoon about talking dogs. This is an excerpt from our weekly pop culture newsletter Rec Room. Sign up here. It’s not often an episode of a children’s cartoon has adults sobbing into their sleeves, but that’s exactly what happened this week when ...20 hours ago
- Jessica Tater has ambition without bordersWorking as a doctor in developing countries to help communities achieve better health outcomes is nothing short of a life goal for Jessica Tater. The University of Otago medical student has her sights firmly set on joining the international humanitarian organisation Doctors Without Borders/Médecins Sans Frontières (MSF) when she qualifies ...20 hours ago
- The island where people’s stories are paramountThere’s an island in the far reaches of Auckland’s territory, sitting off the tip of the Coromandel Peninsula, 30 minutes by air from the city or four hours on the slow boat. Aotea Great Barrier is off-grid, it has a population of fewer than a thousand people … and most ...20 hours ago
- Australian author leads silence protest over ‘blood debt’ owed to PapuansAsia Pacific Report An Australian author and advocate, Jim Aubrey, today led a national symbolic one minute’s silence to mark the “blood debt” owed to Papuan allies during the Second World War indigenous resistance against the invading Japanese forces. “A promise to most people is a promise,” Aubrey said in ...21 hours ago
- Israel delays Gaza Freedom Flotilla departure with bureaucratic ‘block’Asia Pacific Report The Freedom Flotilla is ready to sail to Gaza, reports Kia Ora Gaza. All the required paperwork has been submitted to the port authority, and the cargo has been loaded and prepared for the humanitarian trip to the besieged enclave. However, organisers received word of an “administrative ...22 hours ago
- Have New Zealanders really been ‘misled’ about AUKUS, or is involvement now a foregone conclusio...ANALYSIS: By Marco de Jong, Auckland University of Technology and Robert G. Patman, University of Otago When former prime minister Helen Clark spoke out against New Zealand potentially compromising its independent foreign policy by joining pillar two of the AUKUS security pact, Foreign Minister Winston Peters responded bluntly: On ...1 day ago
- Palestine protesters challenge TVNZ over Israeli ambassador’s ‘propaganda’Pacific Media Watch Palestine solidarity protesters today demonstrated at the Auckland headquarters of Television New Zealand, accusing the country’s major TV network of broadcasting “propaganda” backing Israel’s genocidal war on Gaza. About 50 protesters targeted the main entrance to the TVNZ building near Sky Tower and also picketed a side ...1 day ago
- Lynley Hood Opinion – Senator Fulbright must be spinning in his grave1 day ago
- Fast-track bill could affect NZ's reputation – Transparency InternationalThe ministers responsible for green-lighting major projects need to be open about potential conflicts of interest, says Transparency International. ...1 day ago
- We’re all feeling the collective grief and trauma of violence against women – but this is the pr...Source: The Conversation (Au and NZ) – By Anastasia Powell, Professor, Family and Sexual Violence, RMIT University It has been a particularly distressing start to the year. There is little that can ease the current grief of individuals, families and communities who have needlessly lost a loved one to men’s ...1 day ago
- Species living closely together in symbiosis is far older and way more common than you might thinkSource: The Conversation (Au and NZ) – By Gregory Moore, Senior Research Associate, School of Ecosystem and Forest Sciences, The University of Melbourne Lichen, the first described example of symbiosis. AdeJ Artventure/Shutterstock Once known only to those studying biology, the word symbiosis is now widely used. Symbiosis is the intimate ...1 day ago
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- Jobseekers get about $345 less than pensioners each fortnight. This gap is hurting, and is set to wi...Source: The Conversation (Au and NZ) – By Peter Whiteford, Professor, Crawford School of Public Policy, Australian National University The government’s Economic Inclusion Advisory Committee has just published its second report. It was set up by Treasurer Jim Chalmers and Minister for Social Services Amanda Rishworth in 2022 to provide: ...1 day ago
- Does fighting inflation always lead to recession? What NZ data tellsHere is what 60 years of New Zealand data shows us. ...1 day ago
- The government's 20 trips abroad in AprilThe government appears committed to overseas visits with 14 ministers and MPs in 18 countries this month. ...1 day ago
- Government unveils fetal alcohol guidelines, plan for diagnosis trainingThe government is promising to step up the response to Fetal Alcohol Spectrum Disorder, promising to boost diagnoses and raise awareness. ...1 day ago
- Labor facing heavy defeat in Queensland, but faring better in federal 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 The Queensland state election will be held in October. A YouGov poll for The Courier Mail, conducted April 9–17 from a sample ...1 day ago
- Why the potential for another Donald Trump presidency is making Iran very nervousSource: The Conversation (Au and NZ) – By Amin Naeni, PhD candidate at Alfred Deakin Institute for Citizenship and Globalisation, Deakin University There’s been much talk in recent months about what a possible second Donald Trump presidency in the United States could mean for Europe, Russia’s war in Ukraine, the ...1 day ago
- ‘The worst piece of law proposed since 1979’: Reactions to the Fast-track Approvals BillA brief round-up of submissions on the controversial proposed law. This is an excerpt from our weekly environmental newsletter Future Proof. Sign up here. Last week, submissions on the controversial Fast-track Approvals Bill closed just hours after the government released a list of stakeholder organisations who were sent letters advising how they could ...1 day ago
- The Friday Poem: ‘Cereal giving’ by Robin PeaceA poem from Robin Peace’s new collection Detritus of Empire: feather / grass / rock. Cereal giving I see a woman’s hands, see her curious hands break a stalk as she walks through the tall prairie, the savannah, the steppe, wherever it was. See her idly bite the grass that ...1 day ago
- The Unity Books bestseller chart for the week ending April 26The 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 Hemingway’s Goblet by Dermot Ross (Mary Egan Publishing, $38) A handsomely produced (debossed cover, lovely ...1 day ago
- Te Rūnanga O Ngāti Whātua Welcomes Commissioner's Decision Regarding Awataha MaraeThe Commissioner's decision validates the longstanding efforts of the local community and ensures that Awataha Marae will be managed to serve the needs of the local community, particularly for hosting tangihanga. ...2 days ago
- We reconstructed landscapes that greeted the first humans in Australia around 65,000 years agoSource: The Conversation (Au and NZ) – By Tristan Salles, Associate professor, University of Sydney Examples of Australian landscapes. Unsplash Seventy thousand years ago, the sea level was much lower than today. Australia, along with New Guinea and Tasmania, formed a connected landmass known as Sahul. Around this time – ...2 days ago
- What do we lose when our old suburbs disappear?Source: The Conversation (Au and NZ) – By Felicity Castagna, Lecturer, Creative Writing, Western Sydney University Day Day Market, Parramatta Photo: Garry Trinh I live on the edge of Parramatta, Australia’s fastest-growing city, on the kind of old-fashioned suburban street that has 1950s fibros constructed in the post-war housing boom, ...2 days ago
- Does fighting inflation always lead to recession? What 60 years of NZ data can tell usSource: The Conversation (Au and NZ) – By Michael Ryan, Teaching Fellow in Economics, University of Waikato GettyImages fatido/Getty Images There is an ongoing global debate over whether the high inflation seen in the aftermath of the COVID-19 pandemic can be lowered without a recession. New Zealand is not ...2 days ago
- After spending $700,000 on pins for Covid-19 workers, department now cutting costsA government office that set aside millions for lapel pins for pandemic workers is now looking to cut back on spending. ...2 days ago
- ‘A hell of a lot of fun’: Our reviews of Chris Isaak’s dazzling Auckland showThe ‘Wicked Game’ heartthrob is in his late 60s now. That didn’t stop him putting on a lively, goofy and very sparkly show. Apart from ‘Wicked Game’, which graces a sultry playlist of mine simply called 💋, my last sustained Chris Isaak listening session took place when I was about ...2 days ago
- The Week in Politics: Days of drama and demotionsAnalysis - Two ministers were stripped of portfolios in a warning to Cabinet, drama broke out at the Waitangi Tribunal, and the gang patch ban bill ran into opposition. ...2 days ago
- Hear me out: All I want is a TrueBliss T-shirtTara Ward makes an impassioned plea for some vital pop culture merch. In April 1999, I became obsessed with a new reality television show called Popstars. Every Tuesday night, five strangers transformed into music royalty before my very eyes as Joe, Keri, Carly, Erika and Megan were chosen to form ...2 days ago
- Solemn ANZAC dawn service at PNG’s Isurava battle memorialPNG Post-Courier In the early hours of ANZAC Day, aerial photographs captured an impressive gathering of Australians and Papua New Guineans at Isurava in the Northern (Oro) Province. The solemn dawn service yesterday was held at a site steeped in history, where some of the fiercest battles of World War ...2 days ago
- Political editors panel: A reshuffle and the fast trackListen - RNZ's Jo Moir and NZ Herald's Claire Trevett dissect the demotion of two ministers and the PM's response on Morning Report. ...2 days ago
- After-hours clinics on verge of collapse in some regionsOverworked GPs have signalled they can no longer cover, while funding is falling short. ...2 days ago
- Oranga Tamariki Axes Specialist Māori Roles, Weakens Commitment To Te Ao MāoriThe PSA is shocked that Oranga Tamariki has used the cost cutting drive to downgrade its commitment to Te Ao Māori and remove many specialist Māori roles. ...2 days ago
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The more you look at National’s asset sales strategy, the harder it is to see any reason for it apart from simple minded ideological stupidity.
What about money? The Pengxin donation shows us that they are well paid for their services, and I’m sure there will be finance company and other directorships up for grabs later.
Speaking of the Pengxin donation, and given the widely-accepted fact of CCP cheap loans and links to property development companies, to what extent can the National Party be said to be financed by a foreign government?
.
With Crafar, asset sales and now ACC privatisation …..
They are entirely like the emperor with no clothes just before he was sprung.
They’ll sell our assets no matter what and it’s not even about ideology – it’s about transferring the communities wealth into the hands of the rich and making all the rest of us serfs.
“Which raises a question: what is the minimum net return that National is prepared to sell for? Is there one? Or are they determined to sell our assets no matter what because this is about ideology, not good government?”
John Key was asked that very question in the house last week. His answer was that it’s good for NZ to sell the assets regardless of the price.
Entirely ideological, stated very clearly.
ps I’ll find the video in a minute cos some dweeb (hi Gos) is sure to question the precise wording.
Here ’tis:
http://www.youtube.com/watch?v=so8CVIq-cRs
The money shot is at 2:30, but the whole thing is worth a look if you enjoy that softly pathetic and unconvincing “feigned innocence” look that John Key gets when he’s lying through his teeth.
And that’s that. Pure ideology, no bottom price.
Key does not believe that NZ has any significant National sovereignty at stake. Why would he, the banking system is already overwhelmingly foreign owned? Even the Government banks with a foreign owned bank. We’re already serfs…
Well, we need to fight to slough off this serfdom and we need to fight with everything at our disposal to prevent the thieving Nact parasites from selling OUR State Assets.
Has anybody cared to think this thing through with regard to our position as a client of the international banking system?
The Nats have chosen to give 4 years worth of tax cuts that have since inception NEVER been revenue neutral. They have created a debt level as a consequence that places the NZ citizens at the mercy of these offshore banks.
Have no doubt the economics of this from an NZ viewpoint are completely subsidiary to the bankers wishes to recoup the money borrowed and / or take a stake in our productive assets at the same time. This sale process is a sure sign that Key has blithely given away economic sovereignty for electoral success.
after all the technical stuff has been debated ad infinitem…. we are still left with the reality that this is just the aristocracy taking back what we shed blood to gain….. dignity in our work… a future for our kids…a balanced, healthy, democratic society that works for the whole of society…..
they were never going to accept that they had to share any of the loot in order to create a better reality for the masses… they are the masses after all… no explanation required……
why spend time debating minutiae when we should be planning round three of the revolution?
whether we want to face it, or not, we are at war with those who would have us in chains working as they see fit for as little as required to keep us alive so that we can keep working for as long as it takes to replace us with younger, healthier, slaves….
+1