It’s not us: it’s the big banks

Written By: - Date published: 10:01 am, April 29th, 2013 - 30 comments
Categories: capital gains, capitalism, class war, cost of living, david cunliffe, debt / deficit, economy, gst, kiwisaver, news, russel norman, same old national, spin, thinktank - Tags:

So the big Aussie banks in NZ are on course for showing they have made record profits in their last financial year, according to Richard Meadows on Stuff:

Banking analysts expect record-breaking profits from the ‘Big Four’ Aussie lenders this week, but their local offshoots’ performance may be slightly less dazzling. …

ASB, which follows a different reporting year, has already turned in a $365 million net profit for the six months to December, down 2 per cent from the previous period’s record result. On a normalised basis, which is the bank’s preferred measure, profit rose 7 per cent. …

Across the Tasman, the Australian Financial Review reported that analysts expected the parents of the local banks to book record half-year profits of a collective A$13.2 billion (NZ$16b).

The Sydney Morning Herald reported ANZ and Westpac’s cash earnings were expected to rise 7 per cent from the previous corresponding period, while the underdog NAB was tipped to gain 2 per cent.

Meanwhile, it seems that Kiwis are not the poor savers many politicians and journalists make us out to be.  Apparently this is the conclusion of a report by the policy think tank The New Zealand Initiative (a bunch that prefer “Adam Smith’s invisible hand to government’s visible fist”).  According to  Catherine Harris’s article on Stuff, Kiwis are actually quite good savers:

In fact, New Zealand’s collective savings – from companies, government and households – had been “positive” for 38 of the past 41 years – in other words, its income was greater than its spending on consumption.

The savings figures did not include some forms of debt, though it did feature mortgage interest. But households’ net wealth had also risen.

So does that mean that the original money borrowed for mortgages is not included in the total debt of New Zealanders? Meanwhile, it argues that the problem is government policies that has caused the overall debt, even though it included government savings in NZ’s collective savings. The article claims that lack of saving is not the cause of NZ’s high debt levels:

In fact, the country’s chronically large current account deficit is the legacy of government policies between 1974 and the mid-1980s, says author and institute fellow Bryce Wilkinson.

“It was triggered by large trade deficits in the balance of payments, not least due to spiking oil prices, and exacerbated by the largely ‘Keynesian’ government deficit spending policy response.”

Since then, the large “net international investment position” – the $146 billion difference between assets New Zealanders own overseas and overseas-owned assets in New Zealand – had kept the current account balance in deficit.

I’m confused.  It looks to me like they are trying Harris’s article does not provide support another claim in the lead sentence, that New Zealanders “also fear overseas investment unnecessarily“.  Instead the article ends with reference to statistics that show,

Wilkinson also rejected the idea that Asians were taking over New Zealand. In fact, said the report, as of last year Australians owned 55 per cent of foreign investment in New Zealand, while those from Asean nations owned only 3.1 per cent.

Or is Harris and/or Wilkinson implying that Asean nation are “foreign”, but Australia isn’t?

I would have thought The New Zealand Initiative’s findings show that the (alleged) invisible hand is not stopping the foreign Aussie big banks ripping off Kiwis, and that their report is masking this by excluding some crucial forms of private debt.

Back in 2010, the NAct government launched a Savings working party because of their concerns about Kiwis not saving enough. Labour’s then financial spokesperson, David Cunliffe was skeptical.  An Otago Daily Times article said:

“Having already cut New Zealand Superannuation Fund contributions and gutted KiwiSaver, the terms of reference for the Savings Working Group are now equally disturbing,” he  [Cunliffe] said.

“New Zealanders all know `government savings’ is code for harsh cuts to essential services, `changes to the tax system’ are likely to favour the wealthiest kiwis, and references to `fairness and effectiveness of KiwiSaver’ could mean further gutting of this landmark scheme.”

When the report from the Savings Working group was released in February 2011, as reported by TVNZ, Cunliffe and Russel Norman were critical, arguing that the report put too much focus on cutting government rather than on private debt.

Labour’s finance spokesman David Cunliffe adds that the report also ignored any discussion about the impact of dramatically cutting public services.

Slashing government spending and raising GST would make the recession worse and be unfair to Kiwis, he said.

Russel Norman argued for a Capital Gains Tax (other than for the family home) was essential, in keeping with the Saving’s Group Report that showed that biases in the tax system were contributing to the inflation of house prices.

So, overall, the articles indicate the big Aussie banks are the problem, not kiwis’ inability to save.  this is even though the New Zealand Initiative seems to be trying to skew the findings to support the NAct agenda for golvernment spending cuts.

We need better think tanks – especially, we need left wing alternatives to the current influential think tanks that begin with right wing assumptions about government intervention-bad; multinational corporates-good.

 

30 comments on “It’s not us: it’s the big banks”

  1. One Anonymous Knucklehead 1

    Left-wing think tanks are called universities.

    • Colonial Viper 1.1

      No. Universities as institutions are doing only a fair to mediocre job of acting as the social and political conscience of NZ society.

      And the economics/finance departments are generally doing a pretty shite job. But in order for academics in those fields to get grants and to get papers pubished in the major journals (and hence promotions), you basically have to follow an orthodox neoliberal framework.

      If I were to be blunt, I’d argue that universities are not fulfilling the role that NZ society needs today; just what the imaginary market and its current funding models need.

    • Murray Olsen 1.2

      Not at all. Plenty of right wing rubbish comes out of universities, as well as some left wing analysis. This shows that they support a diversity of inquiry, unlike think tanks which normally support thinking in support of a well defined position. For example, if one has liberty or freedom in the title, it’s likely to support harsher prison sentences, surveillance without legal safeguards, interference in the bedroom, and state invasion of women’s lady parts.

      • One Anonymous Knucklehead 1.2.1

        The Right needs its own facts: the Left does not. Universities foster inquiry. No think tank is ever going to match their resources.

  2. DH 2

    “Saving’s Group Report that showed that biases in the tax system were contributing to the inflation of house prices”

    Unfortunately the problem goes a little deeper than that. I don’t know how many here have read Milton Friedman but his monetarist theory is the basis for how NZ controls inflation.

    A simple monetary view is inflation occurs when the money supply increases faster than economic growth. Bank lending is the cause of the money supply growing so the RBNZ are the ones charged with keeping growth in the money supply closely aligned with growth in GDP to prevent inflation. They do that by controlling the price of money – interest rates. Basic economic theory says that if interest rates go up the demand for borrowed money will fall leading to a slowdown in the growth of the money supply.

    The housing inflation is proof the RBNZ haven’t properly controlled growth in the money supply because house prices can’t go up without it (well they could, but only if there was a corresponding fall in prices elsewhere in the market and that hasn’t occured.)

    The subject is quite complex because the mortgage lending generates economic growth, it just doesn’t create enough growth in GDP to offset the increasing money supply.

    IMO Greens & Labour are tinkering at the edges too much & need to get to the source of the problem. CGT and tax won’t reduce mortgage lending, if anything they’ll increase it.

    • Saarbo 2.1

      DH,
      A question: In the basket of goods and services that make up CPI, do you know how much is made up of “housing”?

      I get the impression it is under represented.

      • DH 2.1.1

        Yup, your impression is correct. Can download CPI data here;

        http://www.stats.govt.nz/browse_for_stats/economic_indicators/CPI_inflation/info-releases.aspx

        They use a weighting format. Weighting can be viewed as a percentage, ie a weighting of 10 would represent roughly 10% of household spending. They adjust the results further by population/area weightings but that makes only a very minor change to the numbers. The CPI is made up of groups and sub-groups, 2011 weightings by group are;

        Food – 8.79
        Alcoholic beverages and tobacco – 6.91
        Clothing and footwear – 4.42
        Housing and household utilities – 23.55
        Household contents and services – 4.44
        Health – 5.44
        Transport – 15.12
        Communication – 3.53
        Recreation and culture – 9.12
        Education – 1.84
        Miscellaneous goods and services – 6.85

        Housing and household utilities includes only the cost of a new house which I’m pretty sure doesn’t include the price of land. That group has the following sub-group weightings that make up the total of 23.55;

        Actual rentals for housing – 8.78
        Purchase of new housing – 4.01
        Property maintenance materials – 0.61
        Property maintenance services – 2.96
        Water supply – 0.26
        Refuse disposal and recycling – 0.14
        Local authority rates and payments – 2.32
        Other property related services – 0.03
        Electricity – 3.91
        Gas – 0.43
        Solid fuels – 0.11

        An example of calculating it; say you have inflation in rentals of 10%. You’d multiply that by it’s weighting of 8.78% which makes 0.878 and would add 0.878 points to the CPI.

        From the publics POV the CPI is a total con job but people aren’t good at figuring out this sort of stuff so no-one really understands it.

  3. JonL 3

    Interesting.

    In the latest Eurobarometer poll
    Large majorities across Europe support:
    – the introduction of a tax on financial transactions (71%)
    – tighter rules for credit rating agencies (79%)
    – a tax on profits made by banks (83%)
    – tighter rules on tax avoidance and tax havens (61%)
    70% wish to see a stronger EU role in regulating the financial services industry and 76% want to see stronger EU coordination of economic policy.
    Tellingly only 39% of the population believe that reducing public deficits and debt are the answer to the economic crisis.

    Are there any similar polls in NZ?

    • infused 3.1

      Probably not since we didn’t get fucked like Europe did.

      • felix 3.1.1

        …thanks to the previous govt using budget surpluses to pay off our debt and leave the books in good shape. According to Bill English, that is.

        Guess it’s a good thing they didn’t listen to you and your mates bleating at them for years to spend those surpluses on tax cuts, eh?

        • infused 3.1.1.1

          It doesn’t matter, Labour spent it all in the end anyway.

          • Pascal's bookie 3.1.1.1.1

            But like you say, we weren’t fucked like Eurp.

            Say, who reckoned we should be more like Ireland leading in to the GFC?

          • felix 3.1.1.1.2

            Labour left us with no debt, confused. You and your mob wanted them to leave us with a massive debt.

            I think that matters quite a lot.

  4. MrSmith 4

    Great piece Karol and wish I had time to write something in reply, DH is on the money though.

  5. dumrse 5

    Labour had no hesitation in telling us they would nationalise the Power so, why not Nationalise the Banks. Think about it, the fat profits could be used to repay the purchase price and the next decade will contribute to the economy. Don’t forget, you heard about it here first.

  6. MrSmith 6

    “So the big Aussie banks in NZ are on course for showing they have made record profits in their last financial year, according to Richard Meadows on Stuff:”

    The thing that most people don’t understand is that accounting has a lot of grey areas, and the right like it that way, now if you are an Aussie bank do you think you would employ your brothers, sisters, uncles son, who you were told is good at maths to do your accounts? No you will likely pull some of that tax deductible freshly printed money out and employ the best fuckin accountant money can buy and when I say the best, I don’t mean the most moralistic, I mean the one that will make me the most money, accounting is just another game, the government sets the rules and if you want to win at this game, so like most sports you push the limits, until you get caught breaking the rules, then you say your sorry and hope the gains outweigh the losses.

    The Aussie banks will be cooking their books, you can bet on it, for the tax department to take on this lot will mean a large swallow, and lets face it the Nat’s put the dogs on the chains 4 years ago.

    Interesting listening to our former prime minister Boldger rewriting history on RadioNZ the other day, saying he had some regrets, meaning when he first came to power that selling our banking system to the Aussie’s, was his greatest regret, thanks a lot Jim, Jim you will go down in history as the Man that sold NZ to Australia.

    Boy and Girls we would be far better off becoming another state of Australia now! sorry but the game is up kids, at-least we would get decent wages and conditions, think about it, swallow your pride and ask to become part of Austrila or shut the fuck up about being Australia’s bum boys, bend over and pay the rent, they own us now, thanks Jim.

  7. MrSmith 7

    Going Bush tomorrow Karol but no doubt Draco will show up and DH needs to write more on this, hope to get back to this later tomorrow when the traps are out.

  8. MrSmith 8

    “Meanwhile, it seems that Kiwis are not the poor savers many politicians and journalists make us out to be.  Apparently this is the conclusion of a report by the policy think tank The New Zealand Initiative (a bunch that prefer “Adam Smith’s invisible hand to government’s visible fist”).  According to  Catherine Harris’s article on Stuff, Kiwis are actually quite good savers:”

    I have know idea what or who’s behind the New Zealand Initiative, call me a sceptic, rewriting history is like religion, just interpretation, and every man and his dog, like the New Zealand Initiative seem to be rewriting history at the moment.

    Read this recently by Noam Chomsky on Adam Smith. http://www.greanvillepost.com/2013/04/11/education-is-ignorance-discovering-the-real-adam-smith/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%253A+TheGreanvillePost+%2528The+Greanville+Post%2529

    • Pascal's bookie 8.1

      New Zealand Initiative is Business Roundtable 2.0

    • karol 8.2

      Here is the link to Wilkinson’s full NZ Initiative report. This is what it says “About the Author”

      Prior to setting up economics consultancy Capital Economics in 1997, Bryce Wilkinson was a director of Credit Suisse First Boston in New Zealand (now First NZ Capital). Before moving into investment banking in 1985, he worked in the New Zealand Treasury, reaching the position of director. Bryce has a strong background in public policy analysis, including monetary policy, capital market research and microeconomic advisory work. He was a member of the government’s Regulatory Responsibility Taskforce, the 2025 Taskforce and the ACC Stocktake Group and was acting executive director of the New Zealand Business Roundtable for a short period in late 2011 and early 2012.

      Bryce holds a PhD in economics from the University of Canterbury and was a Harkness Fellow at Harvard University.

  9. infused 9

    Yes it is us. We are the ones spending their money. They won’t make a profit if you are not borrowing…

  10. tracey 10

    Wasnt the main advisor to bush vis a vis the bank bailouts the former head of goldman sachs?

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  • The Hollowest of Men Ride Again… SURPRISE!
    Musings continue apace about “the experienced businessman!” soon to be taking up a National Party MP position. Or to be more accurate, being parachuted into a seat to shut down their former MP Jamie-Lee Ross, who despite his own shortcomings shed at least some more light on the inner workings ...
    exhALANtBy exhalantblog
    1 week ago
  • Barbaric
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    No Right TurnBy Idiot/Savant
    1 week ago
  • Is this study legit? 5 questions to ask when reading news stories of medical research
    Hassan Vally, La Trobe University Who doesn’t want to know if drinking that second or third cup of coffee a day will improve your memory, or if sleeping too much increases your risk of a heart attack? We’re invested in staying healthy and many of us are interested in reading ...
    SciBlogsBy Guest Author
    1 week ago
  • Fighting Monsters.
    Freedom Of Speech? The Säuberung (cleansing by fire) was the work of the German Student Union which, on 10 May 1933, under the watchful eye of the Nazi Reichminister for Propaganda, Joseph Goebbels, consigned 25,000 books to the flames in a ritual exorcism of “un-German thought”. According to the logic of the ...
    1 week ago
  • The next wave of kaupapa Māori politics: its constitutional, it must be.
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    EllipsisterBy Ellipsister
    1 week ago
  • Night lights of NZ from orbit
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    SciBlogsBy Duncan Steel
    1 week ago
  • Reporters deliver uplifting news to fleeing Japanese residents: they won’t miss any rugby
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    The CivilianBy admin
    1 week ago
  • Government in contentious discussions about whether to put surplus on red or black
    Regional Development Minister Shane Jones is the only Cabinet member in favour of putting it all on green. As Finance Minister Grant Robertson finds himself with an enormous $7.5 billion surplus, the Government has begun intense, at times contentious conversations about whether to put the money on red or black at ...
    The CivilianBy admin
    2 weeks ago
  • Jordanian teachers’ successful strike has lessons for here
    by Susanne Kemp At the start of September close to 100,000 school teachers went on strike in Jordan.  They demanded a 50% pay rise.  A pay rise actually agreed to by the regime back in 2014. In early October, however, in the face of government repression and threats, the teachers’ ...
    RedlineBy Admin
    2 weeks ago
  • Why some people still think climate change isn’t real
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    SciBlogsBy Guest Author
    2 weeks ago
  • The SIS unlawfully spied on Nicky Hager
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    No Right TurnBy Idiot/Savant
    2 weeks ago
  • October 2019 – Newsletter
    https://mailchi.mp/7d9133add053/closing-the-gap-october-2019-newsletter ...
    Closing the GapBy Tracey Sharp
    2 weeks ago
  • And they wonder why we think they’re environmental vandals…
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    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Climate Change: Paying the price in California
    Last year, California burned. This year, to stop it happening again (or rather, to stop themselves from being found liable if it happens again), Pacific Gas and Electric is cutting power to half the state for a week:Schools are closed. Traffic lights down. Tunnels dark. Businesses unopened. Hospitals running on ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Let’s Hear It For Up-Close-And-Personal, Hard-Copy Democracy!
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    2 weeks ago
  • 10/10: World Day Against the Death Penalty
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    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Talking Freer Lives: a Marxist gender-critical perspective from Australia
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    RedlineBy Admin
    2 weeks ago
  • Government spin accepted by union leadership
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    RedlineBy Daphna
    2 weeks ago
  • Forbidden Thoughts
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    RedlineBy Daphna
    2 weeks ago
  • Much love to my loyal Ukrainian readership
    For some reasons, my post about the mystery message from inside the Downing Street bunker seemed to catch people's attention.  Quite a lot of hits from NZ (unsurprisingly) and the USA (a bit more puzzlingly, but hi there, USAians!!) and 76 views from the Ukraine.I've celebrated my Ukrainian readers in ...
    2 weeks ago
  • Another day of bonkers GNUmours (again, sorry)
    First, almost a score of Labour MPs seem to have sent a letter to the EU basically begging them to accept a deal - any deal - just so Britain can get the Heck on with Brexiting instead of being trapped in limbo:
    To avoid no deal, deliver on the ...
    2 weeks ago
  • Labour vs working class immigrants – again!
    by Phil Duncan In 2016 the National-led government suspended the Parent Visa Category, through which migrants were able to bring their parents into New Zealand.  Since then over 5,700 people have been in immigration limbo, stuck on the visa wait list. Labour is now bringing back the scheme.  Well, sort ...
    RedlineBy Admin
    2 weeks ago
  • Speak Up for Women press statement: on Massey University and Feminism 2020
    The following was released yesterday (Tues, October 8) by the women’s liberation organisation Speak Up for Women. On 23 September Speak Up For Women announced that we would be holding an event at the Massey University Theaterette in Wellington. The event is called Feminism 2020. The intention of the event ...
    RedlineBy Admin
    2 weeks ago
  • Farmers support dirty rivers
    The government is currently consulting on plans to improve freshwater quality. So naturally, farmers oppose it:South Taranaki farmers are preparing to fight proposed national freshwater changes that some fear will bankrupt them. The Government's proposed National Environment Standard on Freshwater Management, released in September, rated the Waingongoro River as one ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • No-one cares about local government
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    No Right TurnBy Idiot/Savant
    2 weeks ago
  • The political ghosts of eugenics may matter more than the genetic
    This essay, on the political legacy of the eugenics movement, by Kenan Malik was originally published in the Observer on 6 October 2019, under the headline ‘The spirit of eugenics is still with us, as immigrants know to their cost’. Birth control. Intelligence tests. Town planning. Immigration controls. It’s striking how ...
    RedlineBy Daphna
    2 weeks ago
  • “Surplus” again
    Another year, and the government has announced another enormous government "surplus". And just like last year, its nothing of the sort. When we have people homeless and sick and hungry, when we have schools and hospitals still falling down, when we have underpaid public servants and infrastucture unmaintained or unbuilt, ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Inside the Downing Street bunker
    James Forsyth at The Spectator (I know, I know) has tapped one of his contacts inside Number Ten for an insight into the Johnson administration's thinking and strategy.It is fascinating, unsettling and quite, quite mad.  Some key points:Negotiations have stalled and the Johnson administration are keen to blame the EU: ...
    2 weeks ago
  • Taking Control Of The Nation’s Story.
    Fatal Contact: With the arrival of captain James Cook in October 1769, the islands of what would become New Zealand ceased to be the preserve of Polynesian navigators and settlers and became a part of both the world’s map and the world’s history.THE MAORI NATIONALIST assault upon the historical meaning ...
    2 weeks ago
  • Are GNUs extinct?
    Another round of tactical talks about forming a Government of National Unity have come to nothing with the Liberal Democrats still refusing countenance putting Jeremy Corbyn into Downing Street:Opposition talks on Monday made little headway over when to try and vote down Boris Johnson's government and who might succeed him as ...
    2 weeks ago
  • Labour chickens out again
    When the government was elected, it promised to lead the way on electric vehicles, and specifically to make the government vehicle fleet emissions-free where-practicable by 2025.They lied:There are 15,473 vehicles in the government fleet and only 78 are electric. When the coalition Government came into power in late 2017, the ...
    No Right TurnBy Idiot/Savant
    2 weeks ago

  • Methane reducing cattle feed one step closer
    The Government today announced its support for a project that could substantially reduce agricultural greenhouse gas emissions from cattle. The announcement was made as part of Prime Minister Jacinda Ardern’s and Agriculture Minister Damien O’Connor’s visit to Nelson’s Cawthron Aquaculture Park. The Cawthron Institute will receive $100,000 from the Government’s ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Bill to refresh superannuation system passes first reading
    Social Development Minister Carmel Sepuloni has welcomed the first reading of the New Zealand Superannuation and Veteran’s Pension Legislation Amendment Bill. “Every New Zealander has a stake in New Zealand Superannuation and Veteran’s Pension,” says Carmel Sepuloni. “They are our most common form of social assistance – nearly 800,000 New ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Government announces next steps in fight against measles
    Babies in Auckland aged six months and over can receive a free vaccination and children will all have access to vaccines, Associate Minister of Health Julie Anne Genter announced today at Papatoetoe High School.   The move comes as part of Government efforts to step up the fight against measles. ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Speech to the New Zealand Institute of International Affairs, Pacific Futures: Connections, Identity...
    ***Check against delivery*** Good morning. It is a pleasure to be here, and to have the honour of opening this important conference on behalf of the New Zealand Institute of International Affairs. Let us take the opportunity to acknowledge all the people who have helped make today possible, including our special ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Police trial new response to high risk events
    Police Minister Stuart Nash says the safety of frontline officers and members of the public will be the focus of a new trial of specialist Police response teams in three of our largest urban centres. Police have this morning released details of an initiative to be trialled in Counties Manukau, ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • New awards celebrate fisheries sustainability
    The Minister of Fisheries is calling for entries for a new public award to celebrate innovation in our seafood sector. “I have established the Seafood Sustainability Awards to recognise and celebrate those throughout industry, tangata whenua and communities who demonstrate outstanding dedication and innovation towards the sustainability of New Zealand’s ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • More progress for women and we can do more
    Minister for Women Julie Anne Genter welcomes leaders in the private sector taking action on closing their gender pay gaps to ensure a fairer workplace for all New Zealanders. Ms Genter today launched a new report, Addressing the gender pay gap and driving women’s representation in senior leadership, from the Champions for ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Proposals to curb environmental damage help our coasts and the oceans
    Government Ministers today welcomed the release of a marine environment report highlighting the four key issues affecting our oceans, estuaries and coastlines.  The release underlines the importance of government proposals to combat climate pollution, ensure clean freshwater, protect biodiversity, make land use more sustainable, and reduce waste and plastic.    Environment ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • New mental health facility for Waikato
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    BeehiveBy beehive.govt.nz
    4 days ago
  • 500 new te reo Māori champions in our classrooms
    The Government is making progress on its goal to integrate te reo Māori into education by 2025, with over 500 teachers and support staff already graduating from Te Ahu o te Reo Māori,  Associate Education Minister Kelvin Davis announced today. Kelvin Davis made the announcement at an awards ceremony in Waikanae today, for ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Minister James Shaw welcomes 2018 Census first release
    Statistics Minister James Shaw has welcomed the first release of 2018 Census data. The first release of data today, 23 September, includes key data on population, regional growth, the number of homes and the size of different ethnic groups in New Zealand. Data from the 2018 Census will support the ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Driving transparency, ethics and accountability in government use of algorithms
    Minister for Statistics James Shaw today announced a public consultation on a proposed algorithm charter for government agencies. The charter has been developed by the Government Chief Data Steward in response to growing calls for more transparency in government use of data. Computer algorithms – procedures or formulas for solving ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • New Zealand and the Netherlands working together on climate change
    Agriculture Minister Damien O’Connor, Climate Change Minister James Shaw and visiting Dutch Prime Minister Mark Rutte co-hosted a business roundtable in Auckland this morning focused on working together to address climate change.  “The Netherlands is an important partner for New Zealand. We share a strong agricultural history. Sustainable agribusiness and ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Protecting fairness for workers and businesses
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    BeehiveBy beehive.govt.nz
    4 days ago
  • Indigenous Freshwater Fish Bill Passes
    The future for New Zealand’s threatened indigenous freshwater fish looks brighter with the passing of the Conservation (Indigenous Freshwater Fish) Amendment Bill in Parliament today said Minister of Conservation, Eugenie Sage. “Until now, our freshwater fish legislation has been 20 years out of date. We have lacked effective tools to ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Kiwis to take part in world’s biggest earthquake drill
    At 1.30pm tomorrow, hundreds of thousands of Kiwis will join about 65 million people around the globe in ShakeOut, the world’s biggest earthquake drill. The annual drill is to remind people of the right action to take during an earthquake which is to Drop, Cover, Hold, and to practise their ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Rising wages and low inflation supporting Kiwis
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    BeehiveBy beehive.govt.nz
    5 days ago
  • NZ economy strong amid global headwinds
    New Zealand’s economic strength and resilience has been recognised in a major update on the state of the global economy. The IMF’s latest World Economic Outlook released overnight shows a reduced global growth forecast over the next two years as issues like the US-China trade war and Brexit take hold. ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Keeping New Zealanders safer with better counter-terrorism laws
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    BeehiveBy beehive.govt.nz
    5 days ago
  • Improved succession and dispute resolution core of Ture Whenua changes
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    BeehiveBy beehive.govt.nz
    5 days ago
  • Speech to CTU Biennial Conference
    Let me first thank all the new unionists and members in the room. There is nothing more important to improving people’s working lives than people making the decision to care, to get on board and help, to take up the reins and get involved. Congratulations to you. You bring the ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Minister ensures continued Whenuapai flight operations
    Minister of Defence Ron Mark has signed a certificate exempting the activity of engine testing at Whenuapai Airbase from the Resource Management Act 1991. The Act gives the Minister of Defence the power to exempt activities for the purposes of national security.  The certificate will mean the recent Environment Court ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • NZ joins Coalition of Finance Ministers for Climate Action
    Finance Minister Grant Robertson has announced New Zealand will join the Coalition of Finance Ministers for Climate Action while attending APEC meetings in Chile. The objective of the 39 member Coalition is to share information and promote action to tackle climate change. It was formed in April this year, in ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Feedback Sought – Section 71 – Lyttelton Parking
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    BeehiveBy beehive.govt.nz
    6 days ago
  • Feedback Sought – Section 71 – Hagley Oval
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    BeehiveBy beehive.govt.nz
    6 days ago
  • CTU speech – DPM
    Ladies and gentlemen, NZCTU President Richard Wagstaff, members of respective unions – thank you for the invitation to speak to you today. This might be preaching to the choir, but the importance of trade unions in New Zealand’s historical arch is difficult to understate. And it is my belief that ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Police Association Annual Conference
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    BeehiveBy beehive.govt.nz
    6 days ago
  • New Zealand announces a further P-3 deployment in support of UN sanctions
    Minister of Foreign Affairs Winston Peters and Minister of Defence Ron Mark have announced the New Zealand Government’s decision to again deploy a Royal New Zealand Air Force P-3K2 (P-3) maritime patrol aircraft to support the implementation of United Nations Security Council (UNSC) resolutions imposing sanctions against North Korea. New ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • New Zealand deeply concerned at developments in north-east Syria
    Foreign Affairs Minister Winston Peters says New Zealand continues to have serious concerns for peace and stability in north-east Syria. “Recent reports that hundreds of ISIS-affiliated families have fled from a camp are deeply concerning from a humanitarian and security perspective”, Mr Peters says. “While we acknowledge Turkey’s domestic security ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Government on high alert for stink bugs
    Biosecurity Minister Damien O’Connor is warning travelling Kiwis to be vigilant as the high-season for the crop-eating brown marmorated stink bug (BMSB) is under way. “We’re on high alert to stop BMSB arriving in NZ. The high season runs until April 30 and we’ve strengthened our measures to stop stink ...
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    6 days ago
  • Better protections for students in halls of residence
    The Government is moving swiftly to change the law to improve the welfare and pastoral care of students living in university halls of residence and other tertiary hostels. Cabinet has agreed to several changes, including creating a new mandatory Code of Practice that sets out the duty of pastoral care ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • New trapping guide for community and expert trappers alike
    The Minister for Conservation Eugenie Sage has launched a new comprehensive trapping guide for community trappers to help them protect our native birds, plants and other wildlife, at Zealandia in Wellington today. ‘A practical guide to trapping’, has been developed by the Department of Conservation (DOC), and was launched during ...
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    7 days ago
  • Widening Access to Contraceptives Welcomed
    Associate Health Minister Julie Anne Genter welcomes PHARMAC’s move to improve access to long-acting reversible contraception (LARCs). PHARMAC has today announced it will fund the full cost of Mirena and Jaydess for anyone seeking long term contraception, lifting previous restrictions on access to Mirena. “I welcome women having greater choices ...
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    7 days ago
  • Major upgrade for Taranaki Base Hospital
    The Government has approved the next stage of a major redevelopment of Taranaki Base Hospital, which will deliver new and improved facilities for patients. Health Minister Dr David Clark has announced details of a $300 million dollar project to build a new East Wing at the New Plymouth hospital. It ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Extra support for rural families
    Extra funding will allow Rural Support Trusts to help farming families, says Minister for Rural Communities and Agriculture Damien O’Connor. “I know that rural families are worried about some of the challenges facing them, including the ongoing uncertainty created by the Mycoplasma bovis outbreak. “Those concerns sit alongside ongoing worries ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Howard Leaque Beekeeper programme graduation
    Thank you for the opportunity to be here to present certificates to the 16 graduates who have completed a beekeeping course delivered by the Howard League.  Let us start by acknowledging Auckland Prison’s Deputy Prison Director Tom Sherlock, and Acting Assistant Regional Commissioner of Corrections Northern Region Scott Walker - ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Finance Minister to attend APEC meetings
    Finance Minister Grant Robertson leaves this weekend to attend the APEC Finance Ministers meeting in Santiago, Chile. Discussions between APEC Finance Ministers at the meeting will include the effects of the current global economic uncertainty, risks for APEC economies and sustainable development of the region. While at APEC Grant Robertson ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Pacific languages are a source of strength, they ground us and build confidence
    The Minister for Pacific Peoples Aupito William Sio says for Pacific people, language can be a source of strength. It can help ground us and give us confidence. When we speak them, our languages provide us with an immediate and intimate access to our identity and our story - and ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Major boost to support disabled people in sport and recreation
    The Coalition Government has announced an action plan to improve the wellbeing of disabled New Zealanders by addressing inequalities in play, active recreation and sport. The initiative includes training to develop a workforce that understands the needs of children and young people with a range of impairments, advocacy for fit ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • More prefab homes to be built as red tape cut
    The construction sector is being freed up to allow more homes to be built more quickly as the Government cuts through some of the red tape of the Building Act.  “Every New Zealander deserves a warm, dry, safe home and old inefficiencies in the Building Act make building slow and ...
    BeehiveBy beehive.govt.nz
    1 week ago