Imagine if National had not sold the shares in our companies

Written By: - Date published: 3:39 pm, September 9th, 2014 - 70 comments
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Companies in which National sold off shares have all recently reported their financial performance for the past 12 months and the amount of the final dividend they are paying.  I thought that I would have a back of the envelope stab at the amount of money that New Zealand Inc is missing out on to highlight the stupidity of the sell off of these shares.  I am presuming that all dividend payments were made under the new ownership regime, that is to private owners.  Campaign pressures prevent me from digging into the figures too far and working out if some of the dividends were nevertheless paid to the Crown.  I believe this approach is valid because it gives us an idea of what sort of yearly dividend stream the policy has diverted from public to private interests.

It is interesting to see the change in directors in the power companies.  Meridian’s directors are all the same.  MRP has two new appointments out of eight.  Genesis has two new out of nine.  The directors are predominately those appointed by the Government.  The suggestion that private ownership would bring increased fiscal discipline is a fallacy unless of course private shareholders were scrutinising the companies’ performance more than Bill English and the Treasury were.  A failure on the part of English and Treasury should never justify the sale of profitable Crown assets however.

As to the companies’ performances:

  • Meridian’s net profit after tax was $229.8 million and a total dividend of 13.01c per share is to be paid.  This includes a special divided of 2c per share from the sale of surplus land. The Government has lost us $163.4 million in dividend payments alone.
  • Mighty River Power announced a net profit of $212 million up on the IPO forecast of $160 million. It paid a dividend of 13.5c per share.  Dividend loss to us, $91.2 million.
  • Genesis Energy announced a net profit after tax of $49.2 million and paid a dividend of 13c per share.  Dividend loss to us, $61.9 million.  There is something unusual about the accounts which I have not yet got my head around.
  • And Air New Zealand had a good year announcing a net profit after tax of $262 million and total dividends of 0.20c per share.  Dividend loss to us, $44.3 million.

So all up in lost dividend alone in the past 12 months we may have missed out on $360.7 million.  Sure we have saved some money in interest savings but given the increase in the values of the companies and their performances it is clear that New Zealand inc has done very poorly.

All the companies have given a return which is greater than the government’s cost of borrowing.  And these figures do not include any allowance for bonus schemes or the cost of actually selling the shares.

If we had retained ownership we could have done such things as increased spending on health and education or reduced taxes.  These could have been the real justifiable here are the figures type tax cuts, not the hypothetical hypocritical cuts we are being promised by National.

New Zealand you have been had.

70 comments on “Imagine if National had not sold the shares in our companies ”

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  1. Enough is Enough 1
    9 September 2014 at 3:54 pm

    Make sure you all think of this when you head into that voting booth.

    Which parties will repurchase these assets if they have control. Those parties need your vote.

    • One Anonymous Bloke 1.1
      9 September 2014 at 4:00 pm

      Repossess, not repurchase. Take them back with extreme prejudice: now we know the extent of this government’s corruption they must be seen as the proceeds of crime.

      • Enough is Enough 1.1.1
        9 September 2014 at 4:04 pm

        good point

        no wishy washy bullshit about if the economic conditions permit us.

        Just take back what was stolen from us.

        • One Anonymous Bloke 1.1.1.1
          9 September 2014 at 4:13 pm

          A ratfucking government is an illegitimate government. All their decisions must be treated as crime scenes.

          • TheContrarian 1.1.1.1.1
            9 September 2014 at 4:32 pm

            Not liking the government or what they are doing does not make them illegitimate.

            Come back when they lose an election yet remain in power – then they’ll become illegitimate

            • One Anonymous Bloke 1.1.1.1.1.1
              9 September 2014 at 4:44 pm

              Is that what I said? That I don’t like them therefore they’re illegitimate? Why no, it isn’t.

              I was very specific, in fact. I said a ratfucking government is illegitimate, and its decisions are crime scenes.

              It’s an emotive term, ratfucking. In my own defence I use it since it was coined and given currency by its perpetrators.

              Want to argue the substance of my remark, Conty? Or something else?

              • TheContrarian …
                9 September 2014 at 6:09 pm

                I was arguing with the substance as the government isnt illegitimate. Given you only gave “ratfucking” as a reason I assumed it was because you didn’t like to current govt as a reason as opposed to them actually fucking rats.

                • One Anonymous Bloke …
                  9 September 2014 at 6:38 pm

                  Are you really going to advance your pretended ignorance of the term where a substantive argument belongs?

                  Political sabotage or dirty tricks.

                  There, now you can’t pretend ignorance any more.

                  Corrupt methods yield corrupt decisions and corrupt results. Your denial is indistinguishable from complicity. Are you one of these scum?

                  • TheContrarian …
                    9 September 2014 at 6:51 pm

                    I’m just trying to figure out in what way this is an illegitimate government because the only reason given so far is “because ratfuckers”

                    • One Anonymous Bloke …
                      10 September 2014 at 6:54 am

                      Really, is that my argument? Or did I lay it out in more detail in a charitable attempt to ignore your deceitful pretence that you don’t understand the term?

                      If you can’t figure out how a deliberate scheme to undermine democracy (eg: the plan to lower turnout) affects the legitimacy of a government, that’s probably because your prejudice requires that you don’t figure it out, you poor sad follower.

                    • Bazar …
                      10 September 2014 at 10:13 am

                      To claim that the government isn’t legitimate “because ratfuckers”, goes to show how much contempt you have for democracy.

                      Each vote at the last election counted. To disregard the results and claim a crime “because ratfuckers” is as hilarious as it is delusional.

                    • One Anonymous Bloke …
                      10 September 2014 at 12:54 pm

                      It’s a good thing my argument isn’t “because ratfuckers” then, eh.

                      Probably a good thing I didn’t challenge the validity of the votes cast either.

                      The sad thing is that right wing gimps can’t even address the issue without lying about my argument. It’s a consequence of their low intelligence if you ask me.

                  • TheContrarian …
                    9 September 2014 at 6:54 pm

                    I’m just trying to figure in what way the govt is illegitimate given the only reason forwarded so far is “because ratfuckers”

                    (apologies if this is a duplicate post – something weird happened during the submit process)

                    • Rich …
                      9 September 2014 at 9:37 pm

                      I agree with One Anon. I also agree with you quite a lot but on this one I’m with one anon. He or she is saying what we all think.

                    • One Anonymous Bloke …
                      10 September 2014 at 7:47 am

                      Thanks Rich.

                      Hager is hammering the message home in his speeches. The people who have the most information are feeling cowed and silenced, and it’s deliberate.

                      It’s a direct consequence of the SOE model, and the ratfuckers’ willingness to exploit commercial values to enforce compliance.

          • dave 1.1.1.1.2
            10 September 2014 at 3:34 am

            the incoming government needs to set up a royal commission into the John key government corruption i say use power nz policy to confiscate there profits then buy them back at half the value but i think with universal kiwi saver these assets should be vested in perpetuity in the Cullen fund and kiwi saver because there a target for thieving nacts and I worry about the Cullen fund these nacts will loot that to given a chance.

            • One Anonymous Bloke 1.1.1.1.2.1
              10 September 2014 at 7:28 am

              I don’t think subterfuge is a good plan at all: the Royal Commission must have an open brief and the power to compel witnesses. No doubt John Key is a flight risk.

              The Commission will hear evidence of illegal activity in government. If proven, I suggest judicial review is the appropriate avenue to revisit any Ministerial decisions tainted by the ratfuckers.

              Our international standing has been seriously damaged by Key et al, we have to follow an open legal process to address the issue or they win.

  2. Rodel 2
    9 September 2014 at 4:06 pm

    How does this get widely publicized? Not through our timid journalists I’ll bet.

  3. wyndham 3
    9 September 2014 at 4:18 pm

    On top of that little lot is the investment interest foregone on the NZ Superannuation fund brought about by Nats cutting the contributions.
    Don’t know the amount but it’s considerable. I seem to remember you Micky, running a post on it not too long ago.

  4. StarSpangledBallet 4
    9 September 2014 at 4:23 pm

    The New Zealand public received approximately $4.7B in cash from the partial sale, which included the present value of expected future cashflows to equity holders i.e. dividends. Ergo your contention that New Zealanders have forgone $360M is erroneous.

    • Colonial Viper 4.1
      9 September 2014 at 4:37 pm

      You seem financially literate. Tell me, whose long term financial interests was it in to gift our nation’s strategic assets with a massive 8.5% ROI, to the private sector?

      • Rich 4.1.1
        9 September 2014 at 10:50 pm

        The present value of that dividend stream with the asset worth 12.25b (a 5% year on year increase) at the end of a 20 year period is 6.98 billion dollars. (assuming a 7% annual return but with assets like this that’s probably quite high, in other words this is a conservative estimate).

        Effectively they have received at least a 52% discount on the value of the asset.

        • Rich 4.1.1.1
          9 September 2014 at 11:54 pm

          Or in other words they’re getting an 11% return on their investment in interest alone, one that as reliable as this should be only getting someone maybe 4.5%. Add in the probable capital appreciation and they’re looking at maybe a 14-15% return. Their alternative in this sort of market (i.e as safe as houses) would have been US bonds at 3.24% (current 30 year rate). Ripping off New Zealand is a good investment decision.

    • mickysavage 4.2
      9 September 2014 at 4:44 pm

      Dividend income is only one measurement of the worth of a company. It’s underlying value is also important and if this goes up and you have sold the shares then you miss out.

      I would also be interested in the net amount received for the sale which takes into account the cost of selling and bonus shares etc.

      The bottom line is that even on dividend flow it was a silly decision to make. An increase in share value only makes the decision worse.

      • mickysavage 4.2.1
        9 September 2014 at 4:52 pm

        In fact if you do another quick back of the envelope calculation on the change in value of the companies based on their share prices then the value of the shares sold based on today’s share price have changed as follows:

        Meridian – $251m increase
        MRP – $47m decrease
        Genesis – $157m increase
        Air NZ – $124m increase

        Collectively the shares that we sold are now worth $485 million more than what they were based on the price we sold them for. And we have lost out on the dividend income.

        • indiana 4.2.1.1
          9 September 2014 at 5:14 pm

          “back of the envelope calculation”

          That’s been the downfall of all Labour’s policies…you really shouldn’t entice people to cast a vote based on this method of analysis.

          • mickysavage 4.2.1.1.1
            9 September 2014 at 5:19 pm

            More of a spreadsheet calculation but feel free to state if my figures are not correct.

            • indiana 4.2.1.1.1.1
              9 September 2014 at 5:55 pm

              I’m not going to state that your figures are incorrect – but I will suggest that these figures have been massaged by you to try and get a message across that it was all a bad decision to sell. When you state that the shares sold are worth $485M and we have lost dividends you haven’t also stated under state ownership what the growth trend of that share were or the dividend paid out to make a fair comparison. I really do question that under state ownership the proportion of shares sold would have reached $485M.

              • mickysavage …
                9 September 2014 at 6:05 pm

                Not at all. The figures are the figures. If the assets had been retained in public ownership the dividends paid may have been smaller but the value of the companies would have gone up by a larger amount.

          • Tracey 4.2.1.1.2
            9 September 2014 at 5:45 pm

            Without a touch of irony… Nats clayton tax cuts anyone

  5. Colonial Viper 5
    9 September 2014 at 4:24 pm

    Well, technically that $360M hasn’t been “lost”, instead it’s gone to better, wealthier households.

  6. Ad 6
    9 September 2014 at 4:56 pm

    Mickey It’s too late for counterfactuals.

    Labour isn’t proposing getting them back. Or their dividends. They have no answer.

    Maybe in a post-victory policy cabinet they could amalgamate the governance of ACC, EQC and NZSuperfund and re-weight for local utilities…

    …in a post-victory world …

    • mickysavage 6.1
      9 September 2014 at 4:58 pm

      Yep “told you so” is one of the most unsatisfying phrases in the English Language.

      • One Anonymous Bloke 6.1.1
        9 September 2014 at 5:11 pm

        Quite easy to get them back when the decision to sell them was a crime, perpetrated by criminals. Investigate the links between the National Party and the biggest beneficiaries of the sale, or accept that gang members like Ede and Key and Lusk are going to rule the country.

        Your call.

      • Ergo Robertina 6.1.2
        9 September 2014 at 9:26 pm

        “The four most beautiful words in our common language: I told you so.”
        – gore vidal.
        that National hasn’t been crucified for this mess is what’s ‘unsatisfying’.

  7. johnm 7
    9 September 2014 at 5:02 pm

    Smirking Chimp has done it. He loots NZ and now a tax bribe while debt soars and child poverty doesn’t exist, the triumph of filthy greed and NZers are culpable stooges. The man is sickening puppet of the U$ hollow nothing as well.

  8. blue leopard 8
    9 September 2014 at 5:21 pm

    Every child in poverty could have been given $1000 this year for that amount. The families in poverty probably would have been able to solve a lot of issues for that amount.
    Instead the money was given to people who already had plenty.

    Jolly good.

    Vote left.

  9. Weepus beard 9
    9 September 2014 at 5:21 pm

    At $360 million per annum we would have accounted for the $4.7 billion in 12-15 years.

    Hardly a lifetime away yet the selling of those shares was a once in a multiple generation event.

  10. Black Lemming 10
    9 September 2014 at 5:26 pm

    If smirky chimp was growing up in a state house in Aranui now he would never go on to be a flash banker or the PM of NZ .

    Why ?

    Because , he would become the victim of his own child poverty .There would be no food in the fridge , he’d be too weak to concentrate in class and would end up as a dopesmoking temp worker on a council rubbish truck.

    • Murray Olsen 10.1
      10 September 2014 at 1:52 am

      Then he’d get drug tested and lose his job, plus any prospects of further employment. Then, as he tries to get help from WINZ, the fun really starts.

  11. Jepenseque 11
    9 September 2014 at 5:33 pm

    Going by the arguments here the govt should own all assets that return above its cost of borrowing. That would be almost everything..

    • Zorr 11.1
      9 September 2014 at 6:20 pm

      Why, yes Jepenseque.

      Don’t know about you, but if I was wanting to make an ongoing profit, that is *exactly* what I would be doing.

      EDIT: Ah, see what you were driving at there now thanks to “reason” below. The NZ government should not be selling our assets full stop. They rule this country for the people, not for *some* people.

  12. JanMeyer 12
    9 September 2014 at 5:52 pm

    Just imagine … if ants were called elephants and elephants ants, I’d be able to squash an elephant!

  13. reason 13
    9 September 2014 at 6:02 pm

    No jepenseque………. just holding onto the ones built and paid for by past generations of taxpayers and already owned by all New Zealanders is what we had wanted.

    The old ‘electricity department ‘ had a brief to provide reliable power at the cheapest possible price for the benefit of our country.

    Private companies have the motivation to make the most profit for themselves ……… spot the difference which is as small as enron

    • tc 13.1
      9 September 2014 at 7:40 pm

      Would the old NZED have taken over 15years to resolve diversity of supply to akl CBD only recently resolved by transpower and vector after the 90’s blackout.

      Our power system is top heavy with self and shareholder interests now and nowhere near as efficient at as it was under the NZED and a classic example of why essential infrastructure needs to stay in public hands.

    • distubed 13.2
      9 September 2014 at 10:38 pm

      100% I worked for two power schemes Manpouri and Turangi.

      They in 1966 said we would have cheap always available power.

      I’m afraid those days are gone my friend.
      Hollow men hollowing out our country to the rich foreigners.

  14. BM 14
    9 September 2014 at 6:04 pm

    I don’t see the issue

    If there’s a problem, just tax the sheeple some other way. eg: up the ACC levy, no one ever looks that one on the pay slip.

    • Lanthanide 14.1
      10 September 2014 at 9:12 am

      “If there’s a problem, just tax the sheeple some other way. eg: up the ACC levy, no one ever looks that one on the pay slip.”

      That explains why National put it up to 2.04% under their watch, from the 1.3% it was under Labour. Thanks!

      Also explains why it’s now 1.45% coming up to the election, and Key has made some ephemeral statements that it’ll be reduced in the years ahead.

  15. reason 15
    9 September 2014 at 6:05 pm

    btw …. By old I’m referring back to ministry of work and MED days .

  16. tc 16
    9 September 2014 at 6:24 pm

    What about the loss on sale as I thought even the 49% flogged was for billions less then the ‘valuation’.

    Not that any valuation would be able to capture the amount having cheap reliable power for business and residential consumers is objectively.

    It’s not only a necessity of life but a fundamental economic driver that is now majority not in the public hands as contact went last innings from the Nats.

    Also didn’t Blinglish slip a one off divvy out the back door of meridian after herr brownless shonkey power station swap loaded genesis with more debt in order to cough up to meridian.

    • Puddleglum 16.1
      9 September 2014 at 9:38 pm

      National/Treasury were hoping for between 5 and 7 billion for the sold assets. They received below that ($4.7bn).

      At the time many business and economics commentators were pointing out that the sales seemed to be ideologically/politically driven rather than commercially driven as it was not a good time to sell.

  17. SPC 17
    9 September 2014 at 6:30 pm

    Borrow a few billion and buy the shares back at the price that the shareholder paid for them.

    At 5% public debt (it’s lower at the moment), the cost is c $230M pa – $130Mpa less than the dividend return.

    Why did Labour not run on this policy?

    PS – the market impact of offering to buy back shares at the price people paid for them – is those sitting on unrealised gains trying to take them and driving down the price on the market back to issue levels.

    As Winnie might be well aware.

  18. philj 18
    9 September 2014 at 8:26 pm

    ‘NZ Inc.’ is a term coined? by neo lib radicals to frame our society using corporate terminology. I don’t think this terminology is approximate in
    a left leading blog post. Otherwise, great work MS.

    • the pigman 18.1
      9 September 2014 at 10:04 pm

      I think MS might be doing so facetiously, you know um, colonise and appropriate the language of the Right to turn it back on them in a rueful/sarcastic manner?

      The Right are masters of this (cf. “Taxpayers Union”, the chameleon name for a bunch of arch-righties who want nothing more but to smash unions).

      It will be crappy if the Left lose this election, but just think of all the fun we’ll have talking about “NZ being on the cusp of something magical” and the “brighter future” over the next 3 years.

  19. Nic the NZer 19
    9 September 2014 at 10:28 pm

    Mike this whole narrative is simply playing into the neoliberal narrative that the country can go broke (it can’t). The government has exactly the same spending capacity with or without these dividends or the sale value.

    The reason for the sale was just so National can engage in political point scoring by getting a small surplus (which is a meaningless achievement). And because they are ideologically attached to privatisation.

    The reason to keep control of these assets was so the government could influence the price of power to New Zealand. However since National have been in office they have been cranking every cent of profit possible out of their SOEs (also meaningless for a government to ‘profit’).

    Dont give the Meanies any excuse for insufficient social spending, including we are broke (we are not).

  20. infused 20
    9 September 2014 at 10:35 pm

    So fuck all then?

  21. distubed 21
    9 September 2014 at 10:40 pm

    Nationalise with printed money? everyone else does even China?

  22. paul scott 22
    10 September 2014 at 4:18 am

    NZ Nat Govt, 45%, backed up by NZF 8% and UF and ACT.
    Try to get real

  23. Gosman 23
    10 September 2014 at 6:43 am

    This is entirely consistent with what you would expect with private shareholdings as the companies in question have more pressure to keep profitability high and return funds to shareholders.

    • Lanthanide 23.1
      10 September 2014 at 9:16 am

      Because Bill English and Tony Ryall weren’t actually doing their job? So somehow the answer is to sell the assets to someone who can do the job properly, not change ministers?

      Also, the government were so desperate for money from these SOEs that they forced Meridian to sell two of their dams to Genesis so they could suck the money out as a special dividend, so quite clearly the government was capable of some forms of pressure… just not the ones to keep profitability high? They claimed that this sale would (somehow) make the electricity generation system more efficient, despite all electricity market commentators and the companies themselves disagreeing.

      Ironically the part that actually proves your assertion, while also damning the government, is that now that Genesis and Meridian have both been partially privatised, the new owners are looking to reverse the government’s bone-head decision because it’s far more efficient for Meridian to own all of the dams on the river, rather than having it split between them and Genesis.

      So, we’ve proven that National ministers are incompetent and money-grubbing. Those a synonyms for “ideologically driven”, btw.

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    Buzz from the Beehive  Oh, dear.  We have nothing to report from the Beehive. At least, we have nothing to report from the government’s official website. But the drones have not gone silent.  They are out on the election campaign trail, busy buzzing about this and that in the hope ...
    Point of OrderBy Bob Edlin
    3 days ago

  • Play it, Elvis
    Election Hell special!! This week’s quiz is a bumper edition featuring a few of the more popular questions from last weekend’s show, as well as a few we didn’t have time for. You’re welcome, etc. Let us press on, etc. 1.  What did Christopher Luxon use to his advantage in ...
    More Than A FeildingBy David Slack
    3 days ago

  • Pure class warfare
    National unveiled its fiscal policy today, announcing all the usual things which business cares about and I don't. But it did finally tell us how National plans to pay for its handouts to landlords: by effectively cutting benefits: The biggest saving announced on Friday was $2b cut from the ...
    No Right TurnBy Idiot/Savant
    3 days ago

  • Ask Me Anything about the week to Sept 29
    Photo by Anna Ogiienko on UnsplashIt’s that time of the week for an ‘Ask Me Anything’ session for paying subscribers about the week that was for an hour, including:duelling fiscal plans from National and Labour;Labour cutting cycling spending while accusing National of being weak on climate;Research showing the need for ...
    The KakaBy Bernard Hickey
    3 days ago

  • Weekly Roundup 29-September-2023
    Welcome to Friday and the last one for September. This week in Greater Auckland On Monday, Matt highlighted at the latest with the City Rail Link. On Tuesday, Matt covered the interesting items from Auckland Transport’s latest board meeting agendas. On Thursday, a guest post from Darren Davis ...
    Greater AucklandBy Greater Auckland
    3 days ago

  • Protest at Parliament: The Reunion.
    Brian’s god spoke to him. He, for of course the Lord in Tamaki’s mind was a male god, with a mighty rod, and probably some black leathers. He, told Brian - “you must put a stop to all this love, hope, and kindness”. And it did please the Brian.He said ...
    Nick’s KōreroBy Nick Rockel
    3 days ago

  • Labour cuts $50m from cycleway spending
    Labour is cutting spending on cycling infrastructure while still trying to claim the higher ground on climate. Photo: Lynn Grieveson / The KākāTL;DR: The Labour Government released a climate manifesto this week to try to claim the high ground against National, despite having ignored the Climate Commission’s advice to toughen ...
    The KakaBy Bernard Hickey
    3 days ago

  • The Greater Of Two Evils.
    Not Labour: If you’re out to punish the government you once loved, then the last thing you need is to be shown evidence that the opposition parties are much, much worse.THE GREATEST VIRTUE of being the Opposition is not being the Government. Only very rarely is an opposition party elected ...
    Bowalley Road
    3 days ago

  • Skeptical Science New Research for Week #39 2023
    Open access notables "Net zero is only a distraction— we just have to end fossil fuel emissions." The latter is true but the former isn't, or  not in the real world as it's likely to be in the immediate future. And "just" just doesn't enter into it; we don't have ...
    Skeptical Science
    4 days ago

  • Chris Trotter: Losing the Left
    IN THE CURRENT MIX of electoral alternatives, there is no longer a credible left-wing party. Not when “a credible left-wing party” is defined as: a class-oriented, mass-based, democratically-structured political organisation; dedicated to promoting ideas sharply critical of laissez-faire capitalism; and committed to advancing democratic, egalitarian and emancipatory ideals across the ...
    Democracy ProjectBy bryce.edwards
    4 days ago

  • Road rage at Kia Kaha Primary School
    It is not the school holidays yet at Kia Kaha Primary School!It can be any time when you are telling a story.Telling stories about things that happened in the past is how we learn from our mistakes.If we want to.Anyway, it is not the school holidays yet at Kia Kaha ...
    More Than A FeildingBy David Slack
    4 days ago

  • Road rage at Kia Kaha Primary School
    It is not the school holidays yet at Kia Kaha Primary School!It can be any time when you are telling a story.Telling stories about things that happened in the past is how we learn from our mistakes.If we want to.Anyway, it is not the school holidays yet at Kia Kaha ...
    More Than A FeildingBy David Slack
    4 days ago

  • Road rage at Kia Kaha Primary School
    It is not the school holidays yet at Kia Kaha Primary School!It can be any time when you are telling a story.Telling stories about things that happened in the past is how we learn from our mistakes.If we want to.Anyway, it is not the school holidays yet at Kia Kaha ...
    More than a fieldingBy David Slack
    4 days ago

  • Hipkins fires up in leaders’ debate, but has the curtain already fallen on the Labour-led coalitio...
    Labour’s  Chris Hipkins came out firing, in the  leaders’ debate  on Newshub’s evening programme, and most of  the pundits  rated  him the winner against National’s  Christopher Luxon. But will this make any difference when New  Zealanders  start casting their ballots? The problem  for  Hipkins is  that  voters are  all too ...
    Point of OrderBy tutere44
    4 days ago

  • Govt is energising housing projects with solar power – and fuelling the public’s concept of a di...
    Buzz from the Beehive  Not long after Point of Order published data which show the substantial number of New Zealanders (77%) who believe NZ is becoming more divided, government ministers were braying about a programme which distributes some money to “the public” and some to “Maori”. The ministers were dishing ...
    Point of OrderBy Bob Edlin
    4 days ago

  • MIKE GRIMSHAW: Election 2023 – a totemic & charisma failure?
    The D&W analysis Michael Grimshaw writes –  Given the apathy, disengagement, disillusionment, and all-round ennui of this year’s general election, it was considered time to bring in those noted political operatives and spin doctors D&W, the long-established consultancy firm run by Emile Durkheim and Max Weber. Known for ...
    Point of OrderBy poonzteam5443
    4 days ago

  • FROM BFD: Will Winston be the spectre we think?
    Kissy kissy. Cartoon credit BoomSlang. The BFD. JC writes-  Allow me to preface this contribution with the following statement: If I were asked to express a preference between a National/ACT coalition or a National/ACT/NZF coalition then it would be the former. This week Luxon declared his position, ...
    Point of OrderBy poonzteam5443
    4 days ago

  • California’s climate disclosure bill could have a huge impact across the U.S.
    This re-post from Yale Climate Connections by Andy Furillo was originally published by Capital & Main and is part of Covering Climate Now, a global journalism collaboration strengthening coverage of the climate story. The California Legislature took a step last week that has the potential to accelerate the fight against climate ...
    Skeptical Science
    4 days ago

  • Untangling South East Queensland’s Public Transport
    This is a cross post Adventures in Transitland by Darren Davis. I recently visited Brisbane and South East Queensland and came away both impressed while also pondering some key changes to make public transport even better in the region. Here goes with my take on things. A bit of ...
    Greater AucklandBy Guest Post
    4 days ago

  • Try A Little Kindness.
    My daughter arrived home from the supermarket yesterday and she seemed a bit worried about something. It turned out she wanted to know if someone could get her bank number from a receipt.We wound the story back.She was in the store and there was a man there who was distressed, ...
    Nick’s KōreroBy Nick Rockel
    4 days ago

  • What makes NZFirst tick
    New Zealand’s longest-running political roadshow rolled into Opotiki yesterday, with New Zealand First leader Winston Peters knowing another poll last night showed he would make it back to Parliament and National would need him and his party if they wanted to form a government. The Newshub Reid Research poll ...
    PolitikBy Richard Harman
    4 days ago

  • September AMA
    Hi,As September draws to a close — I feel it’s probably time to do an Ask Me Anything. You know how it goes: If you have any burning questions, fire away in the comments and I will do my best to answer. You might have questions about Webworm, or podcast ...
    David FarrierBy David Farrier
    4 days ago

  • Bludgers lying in the scratcher making fools of us all
    The mediocrity who stands to be a Prime Minister has a litany.He uses it a bit like a Koru Lounge card. He will brandish it to say: these people are eligible. And more than that, too: These people are deserving. They have earned this policy.They have a right to this policy. What ...
    More Than A FeildingBy David Slack
    5 days ago

  • More “partnerships” (by the look of it) and redress of over $30 million in Treaty settlement wit...
    Buzz from the Beehive Point of Order has waited until now – 3.45pm – for today’s officially posted government announcements.  There have been none. The only addition to the news on the Beehive’s website was posted later yesterday, after we had published our September 26 Buzz report. It came from ...
    Point of OrderBy Bob Edlin
    5 days ago

  • ALEX HOLLAND: Labour’s spending
    Alex Holland writes –  In 2017 when Labour came to power, crown spending was $76 billion per year. Now in 2023 it is $139 billion per year, which equates to a $63 billion annual increase (over $1 billion extra spend every week!) In 2017, New Zealand’s government debt ...
    Point of OrderBy poonzteam5443
    5 days ago

  • If not now, then when?
    Labour released its fiscal plan today, promising the same old, same old: "responsibility", balanced books, and of course no new taxes: "Labour will maintain income tax settings to provide consistency and certainty in these volatile times. Now is not the time for additional taxes or to promise billions of ...
    No Right TurnBy Idiot/Savant
    5 days ago

  • THE FACTS:  77% of Kiwis believe NZ is becoming more divided
    The Facts has posted –        KEY INSIGHTSOf New Zealander’s polled: Social unity/division 77%believe NZ is becoming more divided (42% ‘much more’ + 35% ‘a little more’) 3%believe NZ is becoming less divided (1% ‘much less’ + 2% ‘a little less’) ...
    Point of OrderBy poonzteam5443
    5 days ago

  • Gordon Campbell on the cynical brutality of the centre-right’s welfare policies
    The centre-right’s enthusiasm for forcing people off the benefit and into paid work is matched only by the enthusiasm (shared by Treasury and the Reserve Bank) for throwing people out of paid work to curb inflation, and achieve the optimal balance of workers to job seekers deemed to be desirable ...
    Gordon CampbellBy lyndon
    5 days ago

  • Wednesday’s Chorus: Arthur Grimes on why building many, many more social houses is so critical
    New research shows that tenants in social housing - such as these Wellington apartments - are just as happy as home owners and much happier than private tenants. Photo: Lynn Grieveson / The KākāTL;DR: The election campaign took an ugly turn yesterday, and in completely the wrong direction. All three ...
    The KakaBy Bernard Hickey
    5 days ago

  • Old habits
    Media awareness about global warming and climate change has grown fairly steadily since 2004. My impression is that journalists today tend to possess a higher climate literacy than before. This increasing awareness and improved knowledge is encouraging, but there are also some common interpretations which could be more nuanced. ...
    Real ClimateBy rasmus
    5 days ago

  • Bennie Bashing.
    If there’s one thing the mob loves more than keeping Māori in their place, more than getting tough on the gangs, maybe even more than tax cuts. It’s a good old round of beneficiary bashing.Are those meanies in the ACT party stealing your votes because they think David Seymour is ...
    Nick’s KōreroBy Nick Rockel
    5 days ago

  • The kindest cuts
    Labour kicks off the fiscal credibility battle today with the release of its fiscal plan. National is expected to follow, possibly as soon as Thursday, with its own plan, which may (or may not) address the large hole that the problems with its foreign buyers’ ban might open up. ...
    PolitikBy Richard Harman
    5 days ago

  • Green right turn in Britain? Well, a start
    While it may be unlikely to register in New Zealand’s general election, Britain’s PM Rishi Sunak has done something which might just be important in the long run. He’s announced a far-reaching change in his Conservative government’s approach to environmental, and particularly net zero, policy. The starting point – ...
    Point of OrderBy xtrdnry
    5 days ago

  • At a glance – How do human CO2 emissions compare to natural CO2 emissions?
    On February 14, 2023 we announced our Rebuttal Update Project. This included an ask for feedback about the added "At a glance" section in the updated basic rebuttal versions. This weekly blog post series highlights this new section of one of the updated basic rebuttal versions and serves as a ...
    Skeptical Science
    6 days ago

  • How could this happen?
    Canada is in uproar after the exposure that its parliament on September 22 provided a standing ovation to a Nazi veteran who had been invited into the chamber to participate in the parliamentary welcome to Ukrainian President Zelensky. Yaroslav Hunka, 98, a Ukrainian man who volunteered for service in ...
    Open ParachuteBy Ken
    6 days ago

  • Always Be Campaigning
    The big screen is a great place to lay out the ways of the salesman. He comes ready-made for Panto, ripe for lampooning.This is not to disparage that life. I have known many good people of that kind. But there is a type, brazen as all get out. The camera ...
    More Than A FeildingBy David Slack
    6 days ago

  • STEPHEN FRANKS: Press seek to publicly shame doctor – we must push back
    The following is a message sent yesterday from lawyer Stephen Franks on behalf of the Free Speech Union. I don’t like to interrupt first thing Monday morning, but we’ve just become aware of a case where we think immediate and overwhelming attention could help turn the tide. It involves someone ...
    Point of OrderBy poonzteam5443
    6 days ago

  • Competing on cruelty
    The right-wing message calendar is clearly reading "cruelty" today, because both National and NZ First have released beneficiary-bashing policies. National is promising a "traffic light" system to police and kick beneficiaries, which will no doubt be accompanied by arbitrary internal targets to classify people as "orange" or "red" to keep ...
    No Right TurnBy Idiot/Savant
    6 days ago

  • Further funding for Pharmac (forgotten in the Budget?) looks like a $1bn appeal from a PM in need of...
    Buzz from the Beehive One Labour plan  – for 3000 more public homes by 2025 – is the most recent to be posted on the government’s official website. Another – a prime ministerial promise of more funding for Pharmac – has been released as a Labour Party press statement. Who ...
    Point of OrderBy Bob Edlin
    6 days ago

  • Bryce Edwards: The Vested interests shaping National Party policies
    As the National Party gets closer to government, lobbyists and business interests will be lining up for influence and to get policies adopted. It’s therefore in the public interest to have much more scrutiny and transparency about potential conflicts of interests that might arise. One of the key individuals of ...
    Democracy ProjectBy bryce.edwards
    6 days ago

  • Labour may be on way out of power and NZ First back in – but will Peters go into coalition with Na...
    Voters  are deserting Labour in droves, despite Chris  Hipkins’  valiant  rearguard  action.  So  where  are they  heading?  Clearly  not all of them are going to vote National, which concedes that  the  outcome  will be “close”. To the Right of National, the ACT party just a  few weeks  ago  was ...
    Point of OrderBy tutere44
    6 days ago

  • GRAHAM ADAMS: Will the racists please stand up?
    Accusations of racism by journalists and MPs are being called out. Graham Adams writes –    With the election less than three weeks away, what co-governance means in practice — including in water management, education, planning law and local government — remains largely obscure. Which is hardly ...
    Point of OrderBy poonzteam5443
    6 days ago

  • Gordon Campbell on whether Winston Peters can be a moderating influence
    As the centre-right has (finally!) been subjected to media interrogation, the polls are indicating that some voters may be starting to have second thoughts about the wisdom of giving National and ACT the power to govern alone. That’s why yesterday’s Newshub/Reid Research poll had the National/ACT combo dropping to 60 ...
    Gordon CampbellBy lyndon
    6 days ago

  • Tuesday’s Chorus: RBNZ set to rain on National's victory parade
    ANZ has increased its forecast for house inflation later this year on signs of growing momentum in the market ahead of the election. Photo: Lynn Grieveson / The KākāTL;DR: National has campaigned against the Labour Government’s record on inflation and mortgage rates, but there’s now a growing chance the Reserve ...
    The KakaBy Bernard Hickey
    6 days ago

  • After a Pittsburgh coal processing plant closed, ER visits plummeted
    This is a re-post from Yale Climate Connections by Katie Myers. This story was originally published by Grist and is part of Covering Climate Now, a global journalism collaboration strengthening coverage of the climate story. Pittsburgh, in its founding, was blessed and cursed with two abundant natural resources: free-flowing rivers and a nearby coal seam. ...
    Skeptical Science
    6 days ago

  • September-23 AT Board Meeting
    Today the AT board meet again and once again I’ve taken a look at what’s on the agenda to find the most interesting items. Closed Agenda Interestingly when I first looked at the agendas this paper was there but at the time of writing this post it had been ...
    Greater AucklandBy Matt L
    6 days ago

  • Electorate Watch: West Coast-Tasman
    Continuing my series on interesting electorates, today it’s West Coast-Tasman.A long thin electorate running down the northern half of the west coast of the South Island. Think sand flies, beautiful landscapes, lots of rain, Pike River, alternative lifestylers, whitebaiting, and the spiritual home of the Labour Party. A brief word ...
    Nick’s KōreroBy Nick Rockel
    6 days ago

  • Big money brings Winston back
    National leader Christopher Luxon yesterday morning conceded it and last night’s Newshub poll confirmed it; Winston Peters and NZ First are not only back but highly likely to be part of the next government. It is a remarkable comeback for a party that was tossed out of Parliament in ...
    PolitikBy Richard Harman
    6 days ago

  • 20 days until Election Day, 7 until early voting begins… but what changes will we really see here?
    As this blogger, alongside many others, has already posited in another forum: we all know the National Party’s “budget” (meaning this concept of even adding up numbers properly is doing a lot of heavy, heavy lifting right now) is utter and complete bunk (read hung, drawn and quartered and ...
    exhALANtBy exhalantblog
    7 days ago

  • A night out
    Everyone was asking, Are you nervous? and my response was various forms of God, yes.I've written more speeches than I can count; not much surprises me when the speaker gets to their feet and the room goes quiet.But a play? Never.YOU CAME! THANK YOU! Read more ...
    More Than A FeildingBy David Slack
    7 days ago

  • A pallid shade of Green III
    Clearly Labour's focus groups are telling it that it needs to pay more attention to climate change - because hot on the heels of their weaksauce energy efficiency pilot programme and not-great-but-better-than-nothing solar grants, they've released a full climate manifesto. Unfortunately, the core policies in it - a second Emissions ...
    No Right TurnBy Idiot/Savant
    7 days ago

  • A coalition of racism, cruelty, and chaos
    Today's big political news is that after months of wibbling, National's Chris Luxon has finally confirmed that he is willing to work with Winston Peters to become Prime Minister. Which is expected, but I guess it tells us something about which way the polls are going. Which raises the question: ...
    No Right TurnBy Idiot/Savant
    7 days ago

  • More migrant workers should help generate the tax income needed to provide benefits for job seekers
    Buzz from the Beehive Under something described as a “rebalance” of its immigration rules, the Government has adopted four of five recommendations made in an independent review released in July, The fifth, which called on the government to specify criteria for out-of-hours compliance visits similar to those used during ...
    Point of OrderBy Bob Edlin
    7 days ago

  • Letter To Luxon.
    Some of you might know Gerard Otto (G), and his G News platform. This morning he wrote a letter to Christopher Luxon which I particularly enjoyed, and with his agreement I’m sharing it with you in this guest newsletter.If you’d like to make a contribution to support Gerard’s work you ...
    Nick’s KōreroBy Nick Rockel
    7 days ago

  • LINDSAY MITCHELL: Alarming trend in benefit numbers
    Lindsay Mitchell writes –  While there will not be another quarterly release of benefit numbers prior to the election, limited weekly reporting continues and is showing an alarming trend. Because there is a seasonal component to benefit number fluctuations it is crucial to compare like with like. In ...
    Point of OrderBy poonzteam5443
    1 week ago

  • BRIAN EASTON: Has there been external structural change?
    A close analysis of the Treasury assessment of the Medium Term in its PREFU 2023 suggests the economy may be entering a new phase.   Brian Easton writes –  Last week I explained that the forecasts in the just published Treasury Pre-election Economic and Fiscal Update (PREFU 2023) was ...
    Point of OrderBy poonzteam5443
    1 week ago

  • 100 new public EV chargers to be added to national network
    The public EV charging network has received a significant boost with government co-funding announced today for over 100 EV chargers – with over 200 charging ports altogether – across New Zealand, and many planned to be up and running on key holiday routes by Christmas this year. Minister of Energy ...
    BeehiveBy beehive.govt.nz
    18 hours ago

  • Safeguarding Tuvalu language and identity
    Tuvalu is in the spotlight this week as communities across New Zealand celebrate Vaiaso o te Gagana Tuvalu – Tuvalu Language Week. “The Government has a proven record of supporting Pacific communities and ensuring more of our languages are spoken, heard and celebrated,” Pacific Peoples Minister Barbara Edmonds said. “Many ...
    BeehiveBy beehive.govt.nz
    1 day ago

  • New community-level energy projects to support more than 800 Māori households
    Seven more innovative community-scale energy projects will receive government funding through the Māori and Public Housing Renewable Energy Fund to bring more affordable, locally generated clean energy to more than 800 Māori households, Energy and Resources Minister Dr Megan Woods says. “We’ve already funded 42 small-scale clean energy projects that ...
    BeehiveBy beehive.govt.nz
    4 days ago

  • Huge boost to Te Tai Tokerau flood resilience
    The Government has approved new funding that will boost resilience and greatly reduce the risk of major flood damage across Te Tai Tokerau. Significant weather events this year caused severe flooding and damage across the region. The $8.9m will be used to provide some of the smaller communities and maraes ...
    BeehiveBy beehive.govt.nz
    4 days ago

  • Napier’s largest public housing development comes with solar
    The largest public housing development in Napier for many years has been recently completed and has the added benefit of innovative solar technology, thanks to Government programmes, says Housing Minister Dr Megan Woods. The 24 warm, dry homes are in Seddon Crescent, Marewa and Megan Woods says the whanau living ...
    BeehiveBy beehive.govt.nz
    5 days ago

  • Te Whānau a Apanui and the Crown initial Deed of Settlement I Kua waitohua e Te Whānau a Apanui me...
    Māori: Kua waitohua e Te Whānau a Apanui me te Karauna te Whakaaetanga Whakataunga Kua waitohua e Te Whānau a Apanui me te Karauna i tētahi Whakaaetanga Whakataunga hei whakamihi i ō rātou tāhuhu kerēme Tiriti o Waitangi. E tekau mā rua ngā hapū o roto mai o Te Whānau ...
    BeehiveBy beehive.govt.nz
    6 days ago

  • Plan for 3,000 more public homes by 2025 – regions set to benefit
    Regions around the country will get significant boosts of public housing in the next two years, as outlined in the latest public housing plan update, released by the Housing Minister, Dr Megan Woods. “We’re delivering the most public homes each year since the Nash government of the 1950s with one ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Immigration settings updates
    Judicial warrant process for out-of-hours compliance visits 2023/24 Recognised Seasonal Employer cap increased by 500 Additional roles for Construction and Infrastructure Sector Agreement More roles added to Green List Three-month extension for onshore Recovery Visa holders The Government has confirmed a number of updates to immigration settings as part of ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Poroporoaki: Tā Patrick (Patu) Wahanga Hohepa
    Tangi ngunguru ana ngā tai ki te wahapū o Hokianga Whakapau Karakia. Tārehu ana ngā pae maunga ki Te Puna o te Ao Marama. Korihi tangi ana ngā manu, kua hinga he kauri nui ki te Wao Nui o Tāne. He Toa. He Pou. He Ahorangi. E papaki tū ana ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Renewable energy fund to support community resilience
    40 solar energy systems on community buildings in regions affected by Cyclone Gabrielle and other severe weather events Virtual capability-building hub to support community organisations get projects off the ground Boost for community-level renewable energy projects across the country At least 40 community buildings used to support the emergency response ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • COVID-19 funding returned to Government
    The lifting of COVID-19 isolation and mask mandates in August has resulted in a return of almost $50m in savings and recovered contingencies, Minister of Health Dr Ayesha Verrall announced today. Following the revocation of mandates and isolation, specialised COVID-19 telehealth and alternative isolation accommodation are among the operational elements ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Appointment of District Court Judge
    Susie Houghton of Auckland has been appointed as a new District Court Judge, to serve on the Family Court, Attorney-General David Parker said today.  Judge Houghton has acted as a lawyer for child for more than 20 years. She has acted on matters relating to the Hague Convention, an international ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Government invests further in Central Hawke’s Bay resilience
    The Government has today confirmed $2.5 million to fund a replace and upgrade a stopbank to protect the Waipawa Drinking Water Treatment Plant. “As a result of Cyclone Gabrielle, the original stopbank protecting the Waipawa Drinking Water Treatment Plant was destroyed. The plant was operational within 6 weeks of the ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • Govt boost for Hawke’s Bay cyclone waste clean-up
    Another $2.1 million to boost capacity to deal with waste left in Cyclone Gabrielle’s wake. Funds for Hastings District Council, Phoenix Contracting and Hog Fuel NZ to increase local waste-processing infrastructure. The Government is beefing up Hawke’s Bay’s Cyclone Gabrielle clean-up capacity with more support dealing with the massive amount ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • Taupō Supercars revs up with Government support
    The future of Supercars events in New Zealand has been secured with new Government support. The Government is getting engines started through the Major Events Fund, a special fund to support high profile events in New Zealand that provide long-term economic, social and cultural benefits. “The Repco Supercars Championship is ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • There is no recession in NZ, economy grows nearly 1 percent in June quarter
    The economy has turned a corner with confirmation today New Zealand never was in recession and stronger than expected growth in the June quarter, Finance Minister Grant Robertson said. “The New Zealand economy is doing better than expected,” Grant Robertson said. “It’s continuing to grow, with the latest figures showing ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • Highest legal protection for New Zealand’s largest freshwater springs
    The Government has accepted the Environment Court’s recommendation to give special legal protection to New Zealand’s largest freshwater springs, Te Waikoropupū Springs (also known as Pupū Springs), Environment Minister David Parker announced today.   “Te Waikoropupū Springs, near Takaka in Golden Bay, have the second clearest water in New Zealand after ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • More support for victims of migrant exploitation
    Temporary package of funding for accommodation and essential living support for victims of migrant exploitation Exploited migrant workers able to apply for a further Migrant Exploitation Protection Visa (MEPV), giving people more time to find a job Free job search assistance to get people back into work Use of 90-day ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • Strong export boost as NZ economy turns corner
    An export boost is supporting New Zealand’s economy to grow, adding to signs that the economy has turned a corner and is on a stronger footing as we rebuild from Cyclone Gabrielle and lock in the benefits of multiple new trade deals, Finance Minister Grant Robertson says. “The economy is ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • Funding approved for flood resilience work in Te Karaka
    The Government has approved $15 million to raise about 200 homes at risk of future flooding. More than half of this is expected to be spent in the Tairāwhiti settlement of Te Karaka, lifting about 100 homes there. “Te Karaka was badly hit during Cyclone Gabrielle when the Waipāoa River ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • Further business support for cyclone-affected regions
    The Government is helping businesses recover from Cyclone Gabrielle and attract more people back into their regions. “Cyclone Gabrielle has caused considerable damage across North Island regions with impacts continuing to be felt by businesses and communities,” Economic Development Minister Barbara Edmonds said. “Building on our earlier business support, this ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • New maintenance facility at Burnham Military Camp underway
    Defence Minister Andrew Little has turned the first sod to start construction of a new Maintenance Support Facility (MSF) at Burnham Military Camp today. “This new state-of-art facility replaces Second World War-era buildings and will enable our Defence Force to better maintain and repair equipment,” Andrew Little said. “This Government ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • Foreign Minister to attend United Nations General Assembly
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