Key SCF excuses fall flat
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- Date published:
1:00 pm, April 19th, 2011 - 10 comments
Categories: business, john key, national -
Tags: bailouts, michael bott, south canterbury finance
John Key is adept at being economical with the truth. Read his latest spin where he attempts to blame Labour for National’s continuing to shovel our money into South Canterbury Finance:
The reason we’re in this position is Labour signed up to a deposit guarantee scheme. South Canterbury Finance had massive loans. Those loans went broke. There were inter-party and related-party loans.
The receivers have now discovered they’re worth a lot less than they were and every bid we had from any consortium that came to the Government always had a provision that said because they were unable to quantify the losses, then the Government had to underwrite all of those losses.
So, frankly, David Cunliffe doesn’t know what he’s talking about. (The Press 5 April 2011)
At the time Labour established the Retail Deposit Guarantee Scheme the Government had little option. Australia had offered a similar scheme for some time and the government had to do something to staunch a serious fiscal bleed. Further the recession had not hit and it is always easy to talk having been informed with the wisdom of hindsight. But embarrassingly for Key the Crown approved SCF’s participation in the scheme on 1 April 2010. I quote from SCF’s press release issued on 1 April 2010:
“Thursday, 1 April 2010, 5:31 pm
Press Release: South Canterbury Finance
1 April 2010Crown approves South Canterbury Finance for Extended Retail Deposit Guarantee Scheme
South Canterbury Finance Limited has today been approved to participate in the Crown’s Extended Retail Deposit Guarantee Scheme.
The scheme will provide all eligible investors with the benefit of the Crown guarantee until 31 December 2011.
Welcoming the Crown’s decision, South Canterbury Finance Chairman Allan Hubbard says a major milestone has been achieved.”
Worse Key also fails to tell taxpayers that while NZ was in the middle of the first recession and again under Key’s leadership, National extended the retail deposit guarantee. I quote from Bill English’s Press Release from 25 August 2009:
“Government to extend retail deposit guarantee
The Government will extend the Retail Deposit Guarantee Scheme and change some of its terms and conditions, Finance Minister Bill English says.
The current scheme ends on October 12, 2010. The new scheme will start on October 13, 2010 and end on December 31, 2011.
The Retail Deposit Guarantee Scheme was introduced as a direct response to international financial market turbulence. Immediate concerns about the stability of the financial system are now abating,” Mr English says. …”
When Labour established the retail deposit scheme they were responding to an immediate need to keep NZ internationally competitive and prevent an investment bleed. National however announced that they would extend the scheme in 2009. Worse SCF was admitted to the scheme under National’s watch and worse still by that stage it was obvious that SCF was a lemon. This raises questions as to why? There were a lot of big money people who had loans to SCF that the taxpayer paid out with interest. It is time for Kiwis to look behind the spin and see Key for what he really is a slick fertiliser salesman with a mouth full of free samples.
– Michael Bott
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- TIKANGA IS NOT LAW. IT IS CULTURAL INDOCTRINATION.A senior, highly respected King’s Counsel with decades of experience in our law courts, Gary Judd KC, has filed a complaint about compulsory tikanga Māori studies for law students - highlighting the utter depths of absurdity this woke cultural madness has taken our society. The tikanga regulations will compel law ...2 weeks ago
- Release: National won’t commit to full Nelson Hospital upgradeThe Government needs to be clear with the people of the Nelson Marlborough region about the changes it is considering for the Nelson Hospital rebuild, Labour health spokesperson Ayesha Verrall said. ...2 weeks ago
- Release: Labour calls for fast track list to be releasedMinisters must front up about which projects it will push through under its Fast Track Approvals legislation, Labour environment spokesperson Rachel Brooking said today. ...2 weeks ago
- Release: National gaslights women fighting for equal payNational has scrapped the pay equity taskforce that fights for equal pay for women and looks at ethnic pay gaps. ...3 weeks ago
- Release: More job cuts, fewer houses under NationalThe Government is again adding to New Zealand’s growing unemployment, this time cutting jobs at the agencies responsible for urban development and growing much needed housing stock. ...3 weeks ago
- Release: Children fall deeper through the cracks in Govt cutsWith Minister Karen Chhour indicating in the House today that she either doesn’t know or care about the frontline cuts she’s making to Oranga Tamariki, we risk seeing more and more of our children falling through the cracks. ...3 weeks ago
- Release: Labour honours memory of Sir Robert MartinThe Labour Party is saddened to learn of the death of Sir Robert Martin, a globally renowned disability advocate who led the way for disability rights both in New Zealand and internationally. ...3 weeks ago
- Release: 130,000 cattle saved from live exportLabour is calling for the Government to urgently rethink its coalition commitment to restart live animal exports, Labour animal welfare spokesperson Rachel Boyack said. ...3 weeks ago
- Central Bank makes clear Government is pouring fuel on housing crisis fireToday’s Financial Stability Report has once again highlighted that poverty and deep inequality are political choices - and this Government is choosing to make them worse. ...3 weeks ago
- New unemployment figures paint bleak pictureThe Green Party is calling on the Government to do more for our households in most need as unemployment rises and the cost of living crisis endures. ...3 weeks ago
- Release: National’s job cuts already starting to bite as unemployment risesUnemployment is on the rise and it’s only going to get worse under this Government, Labour finance spokesperson Barbara Edmonds said. Stats NZ figures show the unemployment rate grew to 4.3 percent in the March quarter from 4 percent in the December quarter. “This is the second rise in unemployment ...3 weeks ago
- Government to rollout roadside drug testing
The Coalition Government will introduce legislation this year that will enable roadside drug testing as part of our commitment to improve road safety and restore law and order, Transport Minister Simeon Brown says. “Alcohol and drugs are the number one contributing factor in fatal road crashes in New Zealand. In ...9 hours ago - Minister responds to review of Kāinga OraThe Government has announced a series of immediate actions in response to the independent review of Kāinga Ora – Homes and Communities, Housing Minister Chris Bishop says. “Kāinga Ora is a large and important Crown entity, with assets of $45 billion and over $2.5 billion of expenditure each year. It ...11 hours ago
- Pseudoephedrine back on shelvesAssociate Health Minister David Seymour is pleased that Pseudoephedrine can now be purchased by the general public to protect them from winter illness, after the coalition government worked swiftly to change the law and oversaw a fast approval process by Medsafe. “Pharmacies are now putting the medicines back on their ...13 hours ago
- New Zealand-China Business SummitTēnā koutou katoa. Da jia hao. Good morning everyone. Prime Minister Luxon, your excellency, a great friend of New Zealand and my friend Ambassador Wang, Mayor of what he tells me is the best city in New Zealand, Wayne Brown, the highly respected Fran O’Sullivan, Champion of the Auckland business ...20 hours ago
- New measures to protect powerlines from treesEnergy Minister Simeon Brown has announced that the Government will make it easier for lines firms to take action to remove vegetation from obstructing local powerlines. The change will ensure greater security of electricity supply in local communities, particularly during severe weather events. “Trees or parts of trees falling on ...3 days ago
- Wairarapa Moana ki Pouakani win top Māori dairy farming awardWairarapa Moana ki Pouakani were the top winners at this year’s Ahuwhenua Trophy awards recognising the best in Māori dairy farming. Māori Development Minister Tama Potaka announced the winners and congratulated runners-up, Whakatōhea Māori Trust Board, at an awards celebration also attended by Prime Minister Christopher Luxon and Finance Minister ...3 days ago
- DJ Fred Again – Assurance report received"On the 27th of March, I sought assurances from the Chief Executive, Department of Internal Affairs, that the Department’s correct processes and policies had been followed in regards to a passport application which received media attention,” says Minister of Internal Affairs Brooke van Velden. “I raised my concerns after being ...3 days ago
- District Court Judges appointedAttorney-General Judith Collins has announced the appointment of three new District Court Judges, to replace Judges who have recently retired. Peter James Davey of Auckland has been appointed a District Court Judge with a jury jurisdiction to be based at Whangarei. Mr Davey initially started work as a law clerk/solicitor with ...4 days ago
- Unions should put learning ahead of ideologyAssociate Education Minister David Seymour is calling on the Post Primary Teachers’ Association (PPTA) to put ideology to the side and focus on students’ learning, in reaction to the union holding paid teacher meetings across New Zealand about charter schools. “The PPTA is disrupting schools up and down the ...4 days ago
- Craig Stobo appointed as chair of FMACommerce and Consumer Affairs Minister Andrew Bayly today announced the appointment of Craig Stobo as the new chair of the Financial Markets Authority (FMA). Mr Stobo takes over from Mark Todd, whose term expired at the end of April. Mr Stobo’s appointment is for a five-year term. “The FMA plays ...4 days ago
- Budget 2024 invests in lifeguards and coastguardSurf Life Saving New Zealand and Coastguard New Zealand will continue to be able to keep people safe in, on, and around the water following a funding boost of $63.644 million over four years, Transport Minister Simeon Brown and Associate Transport Minister Matt Doocey say. “Heading to the beach for ...4 days ago
- New Zealand and Tuvalu reaffirm close relationshipNew Zealand and Tuvalu have reaffirmed their close relationship, Foreign Affairs Minister Winston Peters says. “New Zealand is committed to working with Tuvalu on a shared vision of resilience, prosperity and security, in close concert with Australia,” says Mr Peters, who last visited Tuvalu in 2019. “It is my pleasure ...4 days ago
- New Zealand calls for calm, constructive dialogue in New CaledoniaNew Zealand is gravely concerned about the situation in New Caledonia, Foreign Minister Winston Peters says. “The escalating situation and violent protests in Nouméa are of serious concern across the Pacific Islands region,” Mr Peters says. “The immediate priority must be for all sides to take steps to de-escalate the ...4 days ago
- New Zealand welcomes Samoa Head of StatePrime Minister Christopher Luxon met today with Samoa’s O le Ao o le Malo, Afioga Tuimalealiifano Vaaletoa Sualauvi II, who is making a State Visit to New Zealand. “His Highness and I reflected on our two countries’ extensive community links, with Samoan–New Zealanders contributing to all areas of our national ...5 days ago
- Island Direct eligible for SuperGold Card fundingTransport Minister Simeon Brown has announced that he has approved Waiheke Island ferry operator Island Direct to be eligible for SuperGold Card funding, paving the way for a commercial agreement to bring the operator into the scheme. “Island Direct started operating in November 2023, offering an additional option for people ...5 days ago
- Further sanctions against RussiaForeign Minister Winston Peters today announced further sanctions on 28 individuals and 14 entities providing military and strategic support for Russia’s invasion of Ukraine. “Russia is directly supported by its military-industrial complex in its illegal aggression against Ukraine, attacking its sovereignty and territorial integrity. New Zealand condemns all entities and ...5 days ago
- One year on from Loafers LodgeA year on from the tragedy at Loafers Lodge, the Government is working hard to improve building fire safety, Building and Construction Minister Chris Penk says. “I want to share my sincere condolences with the families and friends of the victims on the anniversary of the tragic fire at Loafers ...5 days ago
- Pre-Budget speech to Auckland Business ChamberKa nui te mihi kia koutou. Kia ora and good afternoon, everyone. Thank you so much for having me here in the lead up to my Government’s first Budget. Before I get started can I acknowledge: Simon Bridges – Auckland Business Chamber CEO. Steve Jurkovich – Kiwibank CEO. Kids born ...6 days ago
- New Zealand and Vanuatu to deepen collaborationNew Zealand and Vanuatu will enhance collaboration on issues of mutual interest, Foreign Minister Winston Peters says. “It is important to return to Port Vila this week with a broad, high-level political delegation which demonstrates our deep commitment to New Zealand’s relationship with Vanuatu,” Mr Peters says. “This ...6 days ago
- Penk travels to Peru for trade meetingsMinister for Land Information, Chris Penk will travel to Peru this week to represent New Zealand at a meeting of trade ministers from the Asia-Pacific region on behalf of Trade Minister Todd McClay. The annual Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade meeting will be held on 17-18 May ...6 days ago
- Minister attends global education conferencesMinister of Education Erica Stanford will head to the United Kingdom this week to participate in the 22nd Conference of Commonwealth Education Ministers (CCEM) and the 2024 Education World Forum (EWF). “I am looking forward to sharing this Government’s education priorities, such as introducing a knowledge-rich curriculum, implementing an evidence-based ...6 days ago
- Education Minister thanks outgoing NZQA ChairMinister of Education Erica Stanford has today thanked outgoing New Zealand Qualifications Authority Chair, Hon Tracey Martin. “Tracey Martin tendered her resignation late last month in order to take up a new role,” Ms Stanford says. Ms Martin will relinquish the role of Chair on 10 May and current Deputy ...6 days ago
- Joint statement of Christopher Luxon and Emmanuel Macron: Launch of the Christchurch Call FoundationNew Zealand Prime Minister Christopher Luxon and President Emmanuel Macron of France today announced a new non-governmental organisation, the Christchurch Call Foundation, to coordinate the Christchurch Call’s work to eliminate terrorist and violent extremist content online. This change gives effect to the outcomes of the November 2023 Call Leaders’ Summit, ...7 days ago
- Panel announced for review into disability servicesDistinguished public servant and former diplomat Sir Maarten Wevers will lead the independent review into the disability support services administered by the Ministry of Disabled People – Whaikaha. The review was announced by Disability Issues Minister Louise Upston a fortnight ago to examine what could be done to strengthen the ...7 days ago
- Minister welcomes Police gang unitToday’s announcement by Police Commissioner Andrew Coster of a National Gang Unit and district Gang Disruption Units will help deliver on the coalition Government’s pledge to restore law and order and crack down on criminal gangs, Police Minister Mark Mitchell says. “The National Gang Unit and Gang Disruption Units will ...7 days ago
- New Zealand expresses regret at North Korea’s aggressive rhetoricForeign Minister Winston Peters has today expressed regret at North Korea’s aggressive rhetoric towards New Zealand and its international partners. “New Zealand proudly stands with the international community in upholding the rules-based order through its monitoring and surveillance deployments, which it has been regularly doing alongside partners since 2018,” Mr ...7 days ago
- New Chief of Defence Force appointedAir Vice-Marshal Tony Davies MNZM is the new Chief of Defence Force, Defence Minister Judith Collins announced today. The Chief of Defence Force commands the Navy, Army and Air Force and is the principal military advisor to the Defence Minister and other Ministers with relevant portfolio responsibilities in the defence ...7 days ago
- Government puts children first by repealing 7AALegislation to repeal section 7AA of the Oranga Tamariki Act has been introduced to Parliament. The Bill’s introduction reaffirms the Coalition Government’s commitment to the safety of children in care, says Minister for Children, Karen Chhour. “While section 7AA was introduced with good intentions, it creates a conflict for Oranga ...7 days ago
- Defence Minister to meet counterparts in UK, ItalyDefence Minister Judith Collins will this week travel to the UK and Italy to meet with her defence counterparts, and to attend Battles of Cassino commemorations. “I am humbled to be able to represent the New Zealand Government in Italy at the commemorations for the 80th anniversary of what was ...7 days ago
- Charter schools to lift educational outcomesThe upcoming Budget will include funding for up to 50 charter schools to help lift declining educational performance, Associate Education Minister David Seymour announced today. $153 million in new funding will be provided over four years to establish and operate up to 15 new charter schools and convert 35 state ...7 days ago
- COVID-19 Inquiry terms of reference consultation results received“The results of the public consultation on the terms of reference for the Royal Commission into COVID-19 Lessons has now been received, with results indicating over 13,000 submissions were made from members of the public,” Internal Affairs Minister Brooke van Velden says. “We heard feedback about the extended lockdowns in ...1 week ago
- The Pacific family of nations – the changing security outlookForeign Minister, Defence Minister, other Members of Parliament Acting Chief of Defence Force, Secretary of Defence Distinguished Guests Defence and Diplomatic Colleagues Ladies and Gentlemen, Good afternoon, tēna koutou, apinun tru It’s a pleasure to be back in Port Moresby today, and to speak here at the Kumul Leadership ...1 week ago
- NZ and Papua New Guinea to work more closely togetherHealth, infrastructure, renewable energy, and stability are among the themes of the current visit to Papua New Guinea by a New Zealand political delegation, Foreign Minister Winston Peters says. “Papua New Guinea carries serious weight in the Pacific, and New Zealand deeply values our relationship with it,” Mr Peters ...1 week ago
- Driving ahead with Roads of Regional SignificanceThe coalition Government is launching Roads of Regional Significance to sit alongside Roads of National Significance as part of its plan to deliver priority roading projects across the country, Transport Minister Simeon Brown says. “The Roads of National Significance (RoNS) built by the previous National Government are some of New Zealand’s ...1 week ago
- New Zealand congratulates new Solomon Islands governmentA high-level New Zealand political delegation in Honiara today congratulated the new Government of Solomon Islands, led by Jeremiah Manele, on taking office. “We are privileged to meet the new Prime Minister and members of his Cabinet during his government’s first ten days in office,” Deputy Prime Minister and ...1 week ago
- New Zealand supports UN Palestine resolutionNew Zealand voted in favour of a resolution broadening Palestine’s participation at the United Nations General Assembly overnight, Foreign Minister Winston Peters says. “The resolution enhances the rights of Palestine to participate in the work of the UN General Assembly while stopping short of admitting Palestine as a full ...1 week ago
- Speech to the 2024 Infrastructure SymposiumIntroduction Good morning. It’s a great privilege to be here at the 2024 Infrastructure Symposium. I was extremely happy when the Prime Minister asked me to be his Minister for Infrastructure. It is one of the great barriers holding the New Zealand economy back from achieving its potential. Building high ...2 weeks ago
- $571 million for Defence pay and projectsDefence Minister Judith Collins today announced the upcoming Budget will include new funding of $571 million for Defence Force pay and projects. “Our servicemen and women do New Zealand proud throughout the world and this funding will help ensure we retain their services and expertise as we navigate an increasingly ...2 weeks ago
- Climate change – mitigating the risks and costsNew Zealand’s ability to cope with climate change will be strengthened as part of the Government’s focus to build resilience as we rebuild the economy, Climate Change Minister Simon Watts says. “An enduring and long-term approach is needed to provide New Zealanders and the economy with certainty as the climate ...2 weeks ago
- Getting new job seekers on the pathway to workJobseeker beneficiaries who have work obligations must now meet with MSD within two weeks of their benefit starting to determine their next step towards finding a job, Social Development and Employment Minister Louise Upston says. “A key part of the coalition Government’s plan to have 50,000 fewer people on Jobseeker ...2 weeks ago
- Any online ‘kidfluencer’ content or images of children can be sexualised, as Four Corners repor...
Source: The Conversation (Au and NZ) – By Catherine Jane Archer, Senior Lecturer, Communication, Edith Cowan University guruXOX/Shutterstock The latest episode of the ABC’s flagship investigative program, Four Corners, makes for grim viewing. It reveals cases of men making inappropriate and sexual comments on online images of children, ...4 hours ago - Stalking legislation review potentially next year – but could take longer
The government has a full slate of "justice commitments" already this year, the Justice Minister says. ...5 hours ago - Kiwis trapped in Nouméa: Air NZ won’t fly from New Caledonia for daysNew Caledonia’s Tontouta International Airport remains closed, and Air New Zealand’s next scheduled flight is on Saturday — although it is not ruling out adding extra services. Air NZ’s Captain David Morgan said on Monday evening flights would only resume when they were assured of the security of the airport ...5 hours ago
- Nakba Gallery: From the river to the sea, Palestine will be freeAsia Pacific Report As Israel drives the Palestinians deeper into another Nakba in Gaza with its assault on Rafah, the Palestine Youth Aotearoa (PYA) and solidarity supporters in Aotearoa New Zealand tonight commemorated the original Nakba — “the Catastrophe” — of 1948. The 1948 Nakba . . . more than ...5 hours ago
- Kanaky New Caledonia unrest: Young people will ‘never give up’ – journalistYoung people on the streets in New Caledonia are saying they will “never give up” pushing back against France’s hold on the Pacific territory, a Kanak journalist in Nouméa says. Pro-independence Radio Djiido’s Andre Qaeze told RNZ Pacific young people had said that “Paris must respect us” and what had ...6 hours ago
- PODCAST: A View from Afar – Is a second Trump Presidency Possible?This episode of A View from Afar podcast was recorded live from 12:45pm May 20, 2024 (NZST). Political scientist Paul Buchanan and Selwyn Manning examine: The United States and how the world is engaging with it geopolitically. Specifically, Paul and Selwyn analyse what has changed in this regard in ...7 hours ago
- Fast-track laws, parliamentary urgency, Treaty tension, media retreat: warning signs for NZ's &...Analysis - Power is not being abused, but it is not being well managed either. New Zealand democracy, unique and currently brittle, should be handled with greater care, Alexander Gillespie writes. ...8 hours ago
- Forcing a government rethink on Gaza 'a cause worth dying for' – Will AlexanderA former Shortland Street actor says he doesn't want to die but changing the government's policy matters hugely to him. ...9 hours ago
- Has logging really stopped in Victoria? What the death of an endangered glider tells usSource: The Conversation (Au and NZ) – By David Lindenmayer, Professor, Fenner School of Environment and Society, Australian National University Forest Conservation Victoria, CC BY-NC-ND Victoria’s native forest logging industry ended on January 1 this year. The news was met with jubilation from conservationists. But did logging really ...9 hours ago
- What’s the difference between fiscal and monetary policy?Source: The Conversation (Au and NZ) – By Mark Crosby, Professor, Monash University Rose Marinelli/Shutterstock This article is part two of The Conversation’s “Business Basics” series where we ask leading experts to discuss key concepts in business, economics and finance. How governments should manage their budgets, and how ...9 hours ago
- Is it time for Australia to reassess its position on France’s role in New Caledonia?Source: The Conversation (Au and NZ) – By Nicole George, Associate Professor in Peace and Conflict Studies, The University of Queensland On Sunday afternoon, Australian citizens who have been trapped in New Caledonia were called to a meeting at one of the large hotels in the capital, Noumea. The ...10 hours ago
- MediSecure data breach: why is health data so lucrative for hackers?Source: The Conversation (Au and NZ) – By Megan Prictor, Senior Lecturer in Law, The University of Melbourne REDPIXEL.PL/Shutterstock The latest large-scale ransomware attack on a health technology provider, electronic prescription company MediSecure, was revealed last week. MediSecure announced it had suffered a “cyber security incident” affecting people’s personal ...10 hours ago
- Our research shows what the rental market is really like for international studentsSource: The Conversation (Au and NZ) – By Hannah Soong, Senior Lecturer and Socio-cultural researcher, UniSA Education Futures, University of South Australia International students have come under fire from both sides of federal politics in the past week. The Albanese government introduced legislation to parliament last Thursday to put ...10 hours ago
- Watch: PM, Housing Minister discuss Kāinga Ora reviewHousing Minister Chris Bishop has ruled out a mass sell-off of state houses. ...11 hours ago
- Kāinga Ora underperforming, not financially viable – Sir Bill EnglishThe agency paid limited attention to value for money and had opaque transparency around internal costs and revenue, the review found. ...11 hours ago
- Watch: Prime Minister Christopher Luxon speaks to media following CabinetPM Christopher Luxon and Housing Minister Chris Bishop are discussing a review of Kainga Ora led by Sir Bill English. ...12 hours ago
- The ‘dead internet theory’ makes eerie claims about an AI-run web. The truth is more sinisterSource: The Conversation (Au and NZ) – By Jake Renzella, Lecturer, Director of Studies (Computer Science), UNSW Sydney An example of shrimp Jesus. Shutterstock AI Generator If you search “shrimp Jesus” on Facebook, you might encounter dozens of images of artificial intelligence (AI) generated crustaceans meshed in various forms with ...13 hours ago
- Some sports leaders are trying to defy term limits – which can open the door to corruptionSource: The Conversation (Au and NZ) – By Joshua McLeod, Lecturer in Sport Management, Deakin University Being a sport administrator comes with many perks, so it’s no surprise many want to stay in their positions as long as possible. Recently, a trend has emerged whereby leaders in sport are seeking ...13 hours ago
- I can’t afford olive oil. What else can I use?Source: The Conversation (Au and NZ) – By Lauren Ball, Professor of Community Health and Wellbeing, The University of Queensland Joyisjoyful/Shutterstock If you buy your olive oil in bulk, you’ve likely been in for a shock in recent weeks. Major supermarkets have been selling olive oil for up to ...14 hours ago
- On the pain and pleasure of cooking
A conversation with artist and home cook Prairie Hatchard-McGill, aka @cacioeprairie. This is an excerpt from our weekly food newsletter, The Boil Up. A few weeks ago, I spotted Prairie strolling down Ponsonby Road at sunset, a bunch of celery tucked under her arm. She was too far away for me ...14 hours ago - Three Kiwis Launch Haka Challenge To Free Assange In London
The Haka Challenge invites anyone to learn and record the Ka Mate haka as performed by the All Blacks, to show their support for "the South Pacific's greatest truth teller". ...14 hours ago - Former Shortland Street Actor Will Alexander Goes On Hunger Strike Over NZ Government’s Complicity...At the Christchurch rally in support of Palestine, he started his hunger strike and vowed to continue until the government stops supporting Israel’s genocide in Gaza. ...14 hours ago
- In stories of unrest in New Caledonia, Kanak voices should not be an afterthoughtWith Nouméa reeling as mainly young, politically active Kanak people take to the streets and protest, a spirit that has been dormant since the 1980s has awoken. Tāmaki Makaurau-based Kanak Joseph Xulué provides some context. As reports continue to emphasise the fires burning through the streets of Nouméa (the capital ...14 hours ago
- Oranga Tamariki proposal to cut critical records unit 'incredibly disrespectful' – a..."For a system that desperately needs help, any budget cuts to me are outrageous but especially in record-keeping," Lisa McLaren says. ...15 hours ago
- Passport delays cause applicants to pay an extra $1.2m for urgent serviceAn unintended consequence of the backlog could have the DIA making hundreds of thousands of dollars in expedited passport applications. ...15 hours ago
- Joining AUKUS could be seen as 'taking sides' – Chinese ambassadorWang Xiaolong told an audience New Zealand joining the military pact could look like "taking sides". ...15 hours ago
- Labor and Albanese gain in post-budget Newspoll, but other polls don’t look as rosySource: The Conversation (Au and NZ) – By Adrian Beaumont, Election Analyst (Psephologist) at The Conversation; and Honorary Associate, School of Mathematics and Statistics, The University of Melbourne A national Newspoll, conducted after the May 14 budget from a sample of over 1,200 people, gave Labor a 52–48% lead over ...15 hours ago
- Kanaky New Caledonia unrest: NZ student in Nouméa taught to use fire extinguishersA New Zealander studying at the University of New Caledonia says students have been taught to use fire extinguishers as firefighters are unlikely to come help if there is an emergency. It comes as days of unrest followed a controversial proposed constitutional amendment which would allow more French residents of ...16 hours ago
- Green MP Darleen Tana investigation costs $43,000 so farDarleen Tana was suspended nine weeks ago amid allegations of migrant exploitation relating to her husband's company . ...16 hours ago
- Fast-track laws, parliamentary urgency, Treaty tension, media retreat: warning signs for NZ’s ‘b...Source: The Conversation (Au and NZ) – By Alexander Gillespie, Professor of Law, University of Waikato Getty Images There have been so many submissions on the government’s proposed Fast-track Approvals Bill – 27,000 written, with 2,900 wanting to appear before the select committee in person – that a ballot ...16 hours ago
- LIVE RECORDING: A View from Afar – Is a second Trump Presidency Possible?The LIVE Recording of A View from Afar podcast will begin today at 12:45pm May 20, 2024 (NZST) which is Sunday evening, 8:30pm (USEST). Today, political scientist Paul Buchanan and Selwyn Manning will examine: The United States and how the world is engaging with it geopolitically. Specifically, we will ...17 hours ago
- Scams are surging – this team blocked 1.3 million in a monthAfter falling victim to a scam over the phone, Russell Brown spent the day with One NZ’s cyber defence and fraud prevention teams to see the work they do to stop millions of scam attempts every year. The only windows in the Cyber Defence Centre at One NZ’s Auckland headquarters ...17 hours ago
- Thousands sign petition to make stalking illegalThe proposal has gained steam since 2022, when Auckland woman Farzana Yaqubi was murdered by a stalker she had previously reported to police. ...17 hours ago
- Treasury Advice Show Flaws In Fast Track Approvals BillTreasury officials have outlined many ways in which the Fast Track Approvals Bill is deeply flawed, Labour environment spokesperson Rachel Brooking says. ...18 hours ago
- Chloe Swarbrick on Green MPs Darleen Tana and Julie Anne GenterDarleen Tana has been suspended amid allegations of migrant exploitation. while Julie Anne Genter is before Parliament's Privileges Committee. ...18 hours ago
- Has cutting 'corporate welfare' left a hole in government climate plans?National scrapped a fund for companies to switch from coal. Now NZ might not meet emissions targets, officials say. ...19 hours ago
- Why has an Israel-Hamas ceasefire been so elusive? A timeline of key moments in the search for peaceSource: The Conversation (Au and NZ) – By Marika Sosnowski, Postdoctoral research fellow, The University of Melbourne Ever since armed conflict has existed, ceasefires have been thought of as a bridge between war and peace. Consequently, their success has been measured by their ability to stop violence between warring parties ...19 hours ago
- Oral retinoids can harm unborn babies. But many women taking them for acne may not be using contrace...Source: The Conversation (Au and NZ) – By Antonia Shand, Research Fellow, Obstetrician, University of Sydney Backgroundy/Shutterstock Oral retinoids are a type of medicine used to treat severe acne. They’re sold under the brand name Roaccutane, among others. While oral retinoids are very effective, they can have harmful effects ...19 hours ago
- Australia is set to ban live sheep exports. What will this mean for the industry?Source: The Conversation (Au and NZ) – By Alan Renwick, Professor of Agricultural Economics, Lincoln University, New Zealand This month the federal government announced a plan to ban live sheep exports, set to come into effect from May 1 2028. The announcement coincided with the release of a highly ...19 hours ago
- How are the stocks of the fish on the iconic poster going? ‘Munted’, says one expertAnother technical answer: ‘no one really knows.’ It smells like hot fat and fish. You hug the warm bundle of newspaper, translucent with grease, swaddling it like a newborn babe. Behind the counter is a small child doing her homework, and the grumpiest Chinese lady in the world. Above you, ...19 hours ago
- Mahé Drysdale on mayoralty bid: 'I'm running to make Tauranga NZ's best small city&#...The two-time Olympic gold medalist will have to beat out a number of people - and his own uncle - for the top job in Tauranga. ...19 hours ago
- Fears Queenstown's homeless problem is about to snowballThe town may see an influx of hundreds of people sleeping in tents this winter, advocates warn. ...19 hours ago
- Kiwis Urged To Give Shane Jones ‘The Finger’New Zealanders are being called on to give Oceans and Fisheries Minister Shane Jones “the finger” in a cheeky new campaign that aims to dramatically boost marine protection in Aotearoa. ...20 hours ago
- Ancient DNA from an extinct native duck reveals how far birds flew to make New Zealand homeSource: The Conversation (Au and NZ) – By Nic Rawlence, Senior Lecturer in Ancient DNA, University of Otago Auckland Island merganser. Artistic reconstruction by J. G. Keulemans from Bullers Birds of New Zealand (1888) Bullers Birds of New Zealand, Author provided Ask a bird lover if they have heard of ...20 hours ago
- The left gears up for 2026 – and beyondLeaders from three of the biggest political parties addressed party faithful over the weekend, writes Stewart Sowman-Lund in this extract from The Bulletin. To receive The Bulletin in full each weekday, sign up here. A weekend ...21 hours ago
- Treasury warns of Fast-Track Bill’s ‘significant risks’
Treasury has said the fast-track bill poses “significant risks”, despite being neither cheaper nor faster than other options The post Treasury warns of Fast-Track Bill’s ‘significant risks’ appeared first on Newsroom. ...22 hours ago - Ministry for the Environment warns of Fast-Track Bill’s ‘significant risks’Environment Ministry says the fast-track bill poses “significant risks”, despite being neither cheaper nor faster than other options The post Ministry for the Environment warns of Fast-Track Bill’s ‘significant risks’ appeared first on Newsroom. ...22 hours ago
- Oranga Tamariki looks to cut unit responsible for critical records for children in state careAbuse survivors have used the records to find out life-changing information about their family - and even their true ethnicity. ...22 hours ago
- Half-term report card: Tory Whanau’s wins, losses and re-election chancesKia ora, welcome to Windbag, The Spinoff’s new Wellington issues column, written by me, Joel MacManus. In this first edition, I take a closer look at the first half of Tory Whanau’s term as mayor. If you want to understand Wellington’s local political landscape, you need to start in 2013 ...23 hours ago
- The murky past – and unknown future – of a huia feather set to sell to the highest bidderA taonga going under the hammer at an Auckland auction house tonight is expected to fetch thousands. But concerns have been raised about its unclear provenance – and about the law that’s meant to protect it. Eda Tang reports. When Tamatea* received the huia feather they bought from a licensed ...23 hours ago
- Pacific leaders concerned over seasonal worker exodusOne issue that all the leaders of the coalition Government have agreed on is the expansion of the Recognised Seasonal Employer scheme. Established in 2007, the scheme allows workers from participating Pacific countries to come to New Zealand to take up roles on a short-term basis. For the government, it’s ...23 hours ago
- Newsroom daily quiz, Monday 20 MayLoading…(function(i,s,o,g,r,a,m){var ql=document.querySelectorAll('A,DIV,A[data-quiz],DIV[data-quiz]'); if(ql){if(ql.length){for(var k=0;k<ql.length;k++){ql[k].id='quiz-embed-'+k;ql[k].href="javascript:var i=document.getElementById('quiz-embed-"+k+"');try{qz.startQuiz(i)}catch(e){i.start=1;i.style.cursor='wait';i.style.opacity='0.5'};void(0);"}}};i['QP']=r;i[r]=i[r]||function(){(i[r].q=i[r].q||[]).push(arguments)},i[r].l=1*new Date();a=s.createElement(o),m=s.getElementsByTagName(o)[0];a.async=1;a.src=g;m.parentNode.insertBefore(a,m)})(window,document,'script','https://take.quiz-maker.com/3012/CDN/quiz-embed-v1.js','qp'); Got a good quiz question? Send Newsroom your questions. The post Newsroom daily quiz, Monday 20 May appeared first on Newsroom. ...23 hours ago
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John Key said no offer of rescue had been discussed in Cabinet. But that was because the offer was into his hands. He decided to reject. His responsibility. Accountable? (I am commercially illiterate by the way.)
Didn’t Hubbard (a) claim that Key was his personal friend and (b) write to both Key & English for taking SCF into the Guaranteed Finance scheme?
Proof positive that Key is to blame for the debacle that is SCF and, ultimately, the NZ economy.
‘Slick fertiliser salesman with a mouth full of samples’ Great!!
It appears that the pointing the finger at Labour even nearing the end of a full term is not too low for this government. Initially John Key tried to shift the blame to Labour for the BMW fleet. Johnathan Coleman even tried to blame Labour for the closure of TVNZ7 by suggesting that it was their fault for not allocating funding beyond this year. This government does not seem to like taking responsibility for their actions/inactions. Our tax money being given to well heeled parasites is something that this government needs to be challenged on. Questions we should be asking include:
Why, given the state of SCF position were they included?
Why did they fail to seek or follow advice to challenge their eligibility for the scheme?
Why was there no audit (or follow-up if their was one)?
Why did they go above and beyond their responsibilities when they handed over our tax money to international investors and paid out interest on top of the principle deposit?
And finally, what gives them the nerve to allow this to happen and hand over money so generously when they are borrowing $300million a week and cutting government spending on services?
It has been suggested that Labour can win this election if they stick to the issues, they should get stuck in to the ones above and nail Key and his band of pirates.
More importantly Roger, why the hell is Key not ordering an independant (like properly independant) enquiry?
Very good question, I believe that Labour brought this up in parliament but it was shut down by Bill English. Why indeed.
Frogblog has worked through the recently released FOIA data and has a mine of information.
http://blog.greens.org.nz/2011/04/15/scf-a-proper-businesslike-efficient-and-prudent-manner-yeah-right/
The hard questions revolve around early 2009, when a notably sceptical Reserve Bank was prodding Treasury for serious answers as to why SCF was being allowed to stay in the scheme.
It is probably in that time frame that the SFO are working.
Great contribution Michael. Good to see a Labour candidate prepared to muck in here on The Standard… I really hope to see more from you. Judicious, informed comment from people in the loop has to be extra welcome.
And the Wairarapa isn’t a lost cause. It may have been Tory forever, but it’s also a region in transition … plus the existing Nat incumbent Hayes is has scarcely done much despite having the luxury of a safe seat for yonks.
Give it heaps Mike and you could just surprise some folk.
Hi RedLogix – Having had John Hayes since 2005 might make it seem that the Wairarapa has been National forever – but Georgina Beyer was Labour and held the seat from 1999 till 2005. After that she went on the Party list. What happens to the Wairarapa is supposed to be an indication of what will happen nation-wide. Let’s hope Michael makes it. I think it’s quite possible with his level of activity John Hayes is just marking time. It’s hard to meet anyone over here who supports him.
Good stuff Michael.
Can you or anyone say what the difference was between the retail deposit scheme and the extended retail deposit scheme?