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Mum and Dad Investor?

Written By: - Date published: 9:39 am, July 27th, 2014 - 124 comments
Categories: capitalism, class war, national, Privatisation - Tags:

Today’s Sunday Star Times has an article on a “mum and dad investor” who somehow managed to purchase $1.6 million worth of shares in Genesis Energy when it was floated at the same time as ordinary mum and dad investors had their shareholding purchases capped at $5,000.  The anomaly has occurred because they purchased through a share broker.  Share brokers had no restriction on how they allocated their shares whereas ordinary kiwi mums and dads who applied publicly had their applications scaled down.

The purchasers, Christopher and Leegena Weinberg, apparently made their money through selling dog meat.  They are described in the SST article as having last year renounced their American Citizenship, presumably so that they are not caught by the US Foreign Account Tax Compliance Act.  This law has the abbreviation of FATCA.  I think they missed a letter off and it should be called the FATCAT law.  It will require American Citizens to file tax returns report certain assets to the IRS even if they live overseas.  Through laws passed recently New Zealand financial institutions are obliged to provide some information to the US authorities on locally based American citizens.

This episode further shows the stupidity of the decision to privatise.  The Weinberg shares have gone up in value by $300,000 and they can expect a dividend payment in the first year of something in the vicinity of $250,000.  This is capital appreciation and dividend income that would otherwise belong to the Crown.

The incident underlines the falsehood offered as justification for the share float.  We have not created a new class of shareowning ordinary New Zealanders.  We have made already rich people even richer.

As for the other primary reason given for the privatization, the unlocking of hidden value through improved governance, the fallacy is that  essentially the same group of professional directors that sat on the Meridian board pre float are still there.  The staff have not changed significantly.  The business is despite its scale a fairly straight forward one.  While it could be argued that National’s hands off oversight of the company means that the new partial owners will do a better job, this is an indictment of the lack of oversight that English and co provide, not a vote of confidence in the market.

This is just another example why this Government should be removed from office as soon as possible.  If we do not achieve this not occur they will wreck the country.

124 comments on “Mum and Dad Investor?”

  1. ghostwhowalksnz 1

    Just as interesting was the rest of the fat cats on the register

    “joined on the register by a who’s who of wealthy investors, including interests associated with
    Sir Eion Edgar, Lyn Erceg, Peter Masfen, Rod Duke, Stefan Lepionka and Peter Francis, whose stakes were all at least 250,000 shares.

    Rod Duke ?. He cant make any money running Xero as it has only reported losses but wants to get rich with a power generator

    • tc 1.1

      Rod duke owns briscoes group.

      Genesis was given away, simple as that. With a shonkey float structure so the nats backers could gazzump local non institutional buyers.

      Aside from the economic lunacy the whole process showed how pissweak the NZX is, a cosy old boy network doing as asked by the biggest boys club….the national party.

      You want a strong NZX, pull it down and start again. Mark weldon did a nice job for his mates, took the money and ran.

      • Draco T Bastard 1.1.1

        You want a strong NZX, pull it down and start again.

        Just can it – the whole place is as obviously corrupt as the idea of shareholding.

    • Bearded Git 1.2

      While I was dead against the sale, when it went ahead I applied for $31000 of shares and got $4500, about one seventh. I was completely gobsmacked.

      In light of the SST article I think possibly something illegal has gone on here and an enquiry is needed.

      • David H 1.2.1

        I hate to say this but it may take the ‘little’ investor who has been rorted to make the complaints needed to start yet another inquiry into the shoddy practices of TricKey and co. Because no-one from the ‘rich’ part of town is going to moan when they got all, and probably more, than they asked for.

  2. Gooch 2

    Rod Drury runs xero, different bloke.

  3. aj 3

    Duke is Briscoes/Rebel sports?

  4. Clemgeopin 4

    As we all know, there was a very wide opposition to these asset sales and in the referendum held last year, of more than 1.3m valid votes cast, 67.3 per cent, i.e, two thirds, voted against, while only 32.4 per cent were in favour of asset sales.

    Of course, this stupid and crooked government didn’t care a damn about what the people were saying about their short sighted asset sales agenda.

    The question is will those scorned 67.2 % of the public teach this pro wealthy capitalist National Hash-Key government a lesson by kicking them out at this election?

    • Tracey 4.1

      Blame the people who voted for national to sell assests but didnt want assets sold. No wonder the govt laughs behind our backs some of its followers are so stupid.

  5. karol 5

    English still claims the majority of the shares were bought by ordinary Kiwis.

    2 things:

    How much longer will many of them hold onto those shares before they are off-loaded to the already wealthy.

    It’s still a major problem if 10-20% of the shares went to the already wealthy overseas investors.

    • fender 5.1

      “How much longer will many of them hold onto those shares…..”

      Possibly not much longer after the bonus shares arrive on a silver platter…

    • john 5.2

      Without overseas investment, New Zealand would have 25% fewer jobs.

      • One Anonymous Bloke 5.2.1

        Easy to say, impossible to prove, utterly irrelevant to the question of Double Dipton’s dishonesty.

        • john 5.2.1.1

          Even your beloved Green Party has stated in their policy that 25% of NZ jobs rely on foreign investment.

          In your world, trying to score a little political brownie point is far more important than 25% of NZ’s jobs.

          Which is exactly the reason Labour finds itself in the current quagmire.

          • One Anonymous Bloke 5.2.1.1.1

            Earth calling John, 2007 saw the lowest unemployment rate in New Zealand history. There are far more unemployed under Dear Leader, what were you saying about jobs again?

            In your stupid haste to misrepresent my opinions, you forgot to check if your own match reality.

            Own goal, fool.

  6. Skinny 6

    Oh yes promote via the heart strings of potential Kiwi mum & dad investors.

    Then limit the GE shares to a token level and open it up to Key’s Jewish-American cousins who swoop in for a 300k killing.

    National ‘working for their rich mates.’

    • McFlock 6.1

      Why bring religion or culture into it?
      Cheapens the complaint, imo.

      • Skinny 6.1.1

        Yeah I know, however the Kiwi taxpayer has taken quite a mauling from the antics of the former money trading shyster in charge of the purse strings. Gifting our assets to the Cyborgs, large taxpayer handouts to the Warner/Zanuck brothers and let’s not go into American backed happenings to the Arabs in Gaza. Is there a common link? You bet ya!

        • McFlock 6.1.1.1

          yeah, nah.

          Especially given the similarly close links with some Chinese enterprises, I’d say the only common factor in this government’s corruption is cash.

  7. Draco T Bastard 7

    The incident underlines the falsehood offered as justification for the share float. We have not created a new class of shareowning ordinary New Zealanders. We have made already rich people even richer.

    While making the rest of NZ poorer because of it but, then, that was always the reason for privatisation in the first place. We were just told that it would be more efficient but we weren’t told that that efficiency would be in taking our wealth from us and giving it to the rich.

    This is just another example why this Government should be removed from office as soon as possible. If we do not achieve this not occur they will wreck the country.

    But their rich mates will be richer and that’s all that matters to them.

    • dave 7.1

      people must vote its as simple as that and ignore the crap coming form the talking heads of the corporate media and vote

  8. Wayne 8

    Hey, stop whinging. Go out with your family friends and campaign to defeat the Nats if you feel that strongly about it.

    • fender 8.1

      Oh really?? Still giving orders despite retiring from this corrupt gang??

      • Tracey 8.1.1

        Retired???? You dont retire from this gang just have a different organisation sign yoyr pay cheques

    • Weepus beard 8.2

      This is part of the campaign, Wayne. Swing and undecided voters need to be made aware of this sort thing – it illustrates National’s laissez faire method of governance and it’s attitude to equality and fairness.

    • felix 8.3

      Hear that everyone? National’s Dr Wayne Mapp wishes that we stop discussing this issue.

      Ok?

      So everyone just shut up about it.

      • Tom Jackson 8.3.1

        This plonker is Wayne Mapp?

        Jesus H Christ, they’ll give a doctorate to any tory jackass with the right connections these days.

        • felix 8.3.1.1

          Yep. (Well, yep it’s Mapp. I have no comment to make on the criteria for doctorates.)

          Go back and look at the absolute drivel he has written here, and in particular note his inability to either follow or utilize even the simplest logical sequences.

          And then recall what this govt of dipshits had him in charge of.

          Utterly terrifying.

    • vto 8.4

      Don’t be a dick Wayne – this clearly shows again that John Key and his disciples cannot be trusted and that they have conned the New Zealand public.

      The line by mickysavage that this was an oversight is naïve. This loophole was seen with 20-20 vision by all brokers and hence Key.

      It is entirely legitimate to raise concerns about the dishonesty of our Prime Minister and his government. That you call such ‘whinging’ reflects only on you and your priorities.

      That you consider it somehow fair game and that “winning” is all that matters reveals yet again the low human attributes people like you have. Winning is all that matters to you and your kind and that you have to be dishonest and lie to achieve it doesn’t matter at all. You poor poor souls – how barren.

      This attribute of your kind Wayne was discussed at length in and around here the other day – check it out /key-denigrates-all-black-jersey/#comment-855004

      • Anne 8.4.1

        It is entirely legitimate to raise concerns about the dishonesty of our Prime Minister and his government.

        And just to emphasise the point here is a comment I made on another thread:

        Corruption – a willingness to act dishonestly in return for money or personal gain.

        synonyms of corrupt: dishonest, unscrupulous, unprincipled, amoral, untrustworthy, underhand, deceitful, double-dealing:

        John Key is dishonest. He is a pathological liar as evidenced in Blips list..
        John Key is unscrupulous. He destroys people who get in his way or are of no use to him. eg. the poor.
        John Key is unprincipled. He changed the law to suit another country other than the country he leads.
        John Key is amoral. He has no moral compass.
        John Key is untrustworthy. He cannot be trusted to act with transparency.
        John Key is underhand. He uses the security agencies – and others – for political and personal gain.
        John Key is deceitful. He hides behind a facade of false premises designed to fool the voters.
        John Key is a double-dealer as evidenced by his wheeler/dealer background.

        In short: John Key is corrupt..

        So suck on it Wayne because its the truth and we’ll continue to say it for as long as John Key and his government is in power.

    • Ergo Robertina 8.5

      Wayne your comment tacitly acknowledges the Nats’ malfeasance in allowing large chunks of our strategic assets to fall to unsavoury foreign interests like these dodgy former pet food barons.
      Your comment says if you don’t like it, get an electoral mandate to change it.
      But the right is insulated electorally from anyone reversing harmful foreign investment of this kind with cries of capital flight if nationalisation of essential assets is suggested as a remedy.
      It’s tragic that a party that once had New Zealanders’ interests at heart is now happy to carve up our infrastructure for just about anyone who wants to buy it, and to hell with the economic and social cost.

      • Draco T Bastard 8.5.1

        But the right is insulated electorally from anyone reversing harmful foreign investment of this kind with cries of capital flight if nationalisation of essential assets is suggested as a remedy.

        The only thing that the government should be doing to capitalists that threaten capital flight is laughing in their faces. We don’t need, and have never needed, their money. The government is quite capable of creating the money needed to do everything that we wish to do.

    • fender 8.6

      OK Wayne, contrary to my initial reaction that you were wanting to be included in the “arrogant National” post, I’m now reading your comment as encouragement to the opposition because you are angry too but can’t be seen to criticise your former colleagues.

    • Liberal Realist 8.7

      Is that the best you can do Wayne? Is objecting to corrupt and deceitful acts by the current government just whinging?

      I suspect that had these crimes been committed by Labour ministers you would be howling from the roof tops, certainly not telling right wing bloggers they were just whinging.

      • Wayne 8.7.1

        Crimes, what crimes?

        The point of my brief post was that parties don’t win elections by navel gazing, they have to go out and do the work.

        And incidentally $1.6 million is about a third of the value of a typical farm. Yes, New Zealand has some rich people, and by definition they own things, including shares.

        If the Left look like they are against all wealth (though those in Labour can hardly be so with a proposed top tax rate of 36%), they just look like they are riven by envy.

        Which is not likely to appeal to a lot of New Zealanders. While New Zealanders expect their govt to deal with real poverty, they do not expect their govt to be “levelers”.

        Ironically the last govt like that was Muldoon’s, when he introduced a 10% tax surcharge on the top tax rate, which was already 60%. But that was 33 years ago. And it lead to the formation of Bob Jones New Zealand Party which as I recall got 12% of the vote in 1984 and ushered in the Lange/Douglas govt.

        • Tracey 8.7.1.1

          Some unanswered questions for you here Wayne

          Implausible denials

        • Tracey 8.7.1.2

          Incidentally kiwis were capped at 5k, that was the point.

        • framu 8.7.1.3

          why has wayne turned into gosman?

          your being a pathetic little apologist wayne – you know damn well that most NZers dont like asset sales – yet youll sit there and play semantics to support them

          parasite

        • Puddleglum 8.7.1.4

          they just look like they are riven by envy.

          This is one thing that really irritates me. It’s a psychological explanation for a policy position.

          It attempts to psychopathologise a perfectly legitimate viewpoint about how best to structure a society (e.g., through highly progressive tax rates).

          What evidence do you or anyone else have that the framers of policies that target the wealth of the wealthy in order to create a more sustainable society (sustainable in a social as well as environmental sense, BTW) are motivated by ‘envy’.

          Isn’t it fairer to say that the opponents of the left will try to characterise left wingers as being envious and that, if successful, that characterisation will cause the left to ‘look’ to people as if they are envious?

          It is not a natural or logical consequence of proposing policies to prevent wealth accumulation in relatively few hands that it will inevitably ‘look’ like envy. That only happens if those interested in characterising it in that way succeed with their rhetorical play.

          Isn’t that the more accurate account?

    • Clemgeopin 8.8

      Wayne, why don’t you come out with the truth? Examining with your conscience, holding your head high, showing some guts and integrity, come out openly and tell the truth to the public and the media as to how dangerous, harmful and evil National, Key and his government have been for our nation, its ways and its future? Come on, do it! You will go down in NZ history as a worthy individual and a great patriot. Chose your date carefully for maximum impact. I suggest Sept 10.

  9. Foreign waka 9

    As assets are being sold against public will there should be a certain amount allocated to each taxpayer as it was them who paid for it in the first place and hence they are the rightful owners. Of cause more could be bought but a standard allocation would have been the honest way. Ooops, honest… here it is again, this nasty word spoiling everything.

  10. Colonial Viper 10

    A very entrepreneurial asset grab by the right wing elite 0.1%. Those same shareholdings can be made worthless pretty quickly though.

    • Shrubbery 10.1

      Agreed. There are any number of legal avenues for a left wing government to fuck over the people who effectively stole the assets from the New Zealand public. Hopefully, some of those happen. Why Fay and Richwhite aren’t still in prison, for instance, is beyond me.

      • Chooky 10.1.1

        Fay and Richwhite have not come back to New Zealand ….New Zealanders have long memories

        • Anne 10.1.1.1

          Fay, Richwhite and co. were tipped off the police were investigating them, so they skipped the country and went to Geneva to live. The police never bothered to go after them. I wonder why?

          It was in the 90s under the Bolger/Shipley regimes.

          • RedBaronCV 10.1.1.1.1

            No extradition treaty I believe is why the police did not follow

          • Tracey 10.1.1.1.2

            Thats different, they are neither german, nor over weight. Running away to avoid responsibility but I bet they vote for ACT every three years

            • Anne 10.1.1.1.2.1

              Oh yes Tracey. They were on ACT’s membership list in the 1990s. Not the open version but a secret list for the high flyers who wanted to remain anonymous even from ordinary ACT members. What I can tell you is that Micheal Fay rented out a whole floor of the Finance Plaza in Auckland to ACT in the mid 1990s (he’s since sold the building) for $1 per week.

              That was the period when the rich listers were setting up a coalition partner for National at the start of the MMP system of government. It worked in 1996 but they ran out of luck in 1999.

    • Chooky 10.2

      CV …hope so

  11. RedBaronCV 11

    Do they or the sharebrojers appear on national party donation lists. And why wasn’t the public pool expanded to the size of the applications taken in or the book building done through the public pool with the brokers only getting any left overs.

  12. Dialey 12

    If the Key Party gets another term, say goodbye to Kiwibank and the anti-nuclear policy

    • infused 12.1

      Kiwibank is a dog. The nuclear policy would never go.

      • Foreign Waka 12.1.1

        Interesting, since a lot of Kiwi saver money has bought into Kiwi bank. Hmmmm…..

      • felix 12.1.2

        Remember John Key in 2003, screeching with rage that the Labour govt weren’t sacrificing kiwi lives for the illegal U.S. invasion of Iraq?

        If you think his views on our independent foreign policy have altered at all, I invite you to watch his recent contribution to parliament on the situation in Gaza. It may as well have been written in Washington DC.

        All the evidence points to Key’s government moving NZ away from independence. The statements on the extra-judicial killing of NZ citizens abroad, the insistence on signing away the sovereignty of parliament in favour of the rights of global corporations, the eagerness to allow foreign powers to conduct armed police/military attacks on NZ soil. None of this is the behaviour of a govt that places any value on independence.

        If you played word association with Key, what do you think the word “independence” would return? My money is on “day” or “declaration” or “4th of July”.

        Don Brash as National leader said the nuke-free policy would be gone by lunchtime. Silly boy for saying it out loud, he had to go. Key and co are smarter, they know kiwis are overwhelmingly in favour of the ban but that just means they know they have to tread carefully on it. Sheesh, they knew kiwis were overwhelmingly in favour of keeping our energy infrastructure and smacking our kids too.

        When they sense that they can get away with it, the ban will be gone.

        I would say “by afternoon tea”, but as I’m sure you know the legislation to get rid of smoko breaks has already been written.

        • Liberal Realist 12.1.2.1

          “I would say “by afternoon tea”, but as I’m sure you know the legislation to get rid of smoko breaks has already been written by the US State Department in Washington DC.”

          FIFY

        • Clemgeopin 12.1.2.2

          +100

          You have made such good and true points. Oh, why oh why, can’t 52% of the people see through the spin and trickery of Key and his so called ‘government’?
          Are people so very gullible, so very trusting and so easily fooled?
          What about his caucus? Don’t they have any independent thought? Don’t they have any integrity? Are they that selfish? Are they scared?

          • Anne 12.1.2.2.1

            What about his caucus? Don’t they have any independent thought?

            His caucus are mere robots who do as they’re told. Early in the first term of this government, most of the Nat MPs did a video talking about themselves on the Nat. web-site. I watched a few of them until it became obvious they were reading from auto-cues and were pretty much saying exactly the same things. Sometime later they all sent out letters to their constituents talking about themselves. The only problem was Anne Tolley’s secretary sent out hers with [insert name here] and [insert electorate here] still intact. Further research turned up the fact they were all identical. It was very funny at the time but strangely nothing appeared in the media about it. The MSM was already in bed with them!

        • Tracey 12.1.2.3

          Clever felix. Contrast the speed with which Key told Putin to man up and show leadership with how long to use alot of words to say nothing about israels invasion of the prison camp known as Gaza.

    • Clemgeopin 12.2

      I agree!
      As I wrote earlier, I am guessing that if National wins a third term, they will unleash very drastic pro capitalist, pro wealthy and pro-corporate polices as it will be their last golden opportunity to fulfill their ideology and agenda with no holds barred, which they were a little careful with so far due to political expediency and to prevent huge public backlash. But if they are re elected, you haven’t seen anything yet!

      If they do get a third time, I suspect they will move to…

      [1] Privatise the Kiwi bank.
      [2] Stop or alter the Kiwi saver top up, the start up $1,000 and the saving rates.
      ]3] Revamp the WFF payments making life harder for the low income families.
      [4] Introduce interest on student loans.
      [5] Hike up tertiary fees affecting students from poorer families.
      [6] Open more and more privately run charter schools, private health and privatised ACC care with generous public funds.
      [7] Open vast amounts of land and sea for mineral and oil exploitation without sufficient safeguards.
      [8] Sign the TPP in a hurry without due care, even if it harms us in the long run.
      [9] Undermine the unions further and dilute worker’s rights even more.
      [10] Make life more profitable for the wealthy but less so for what Key once referred to as the ‘under class’.

      That is my guess from what I have seen slowly happen in the last two terms of this one seat majority (Banks or Dunne) coalition government. I am hoping and think that the majority of people will at last see through this evil discredited crony capitalist supporting pro wealthy regressive government and vote them out on Sept 20 and help usher in a fairer, just, caring and more enlightened Labour led progressive government.

      • Tracey 12.2.1

        You mean they havent released policy yet?

        Goldsmith now appearing on billboards in epsom anas has nats ohariu candidate.

  13. whateva next? 13

    …so will this story be pushed by media, so that those who bought shares believing their power company belongs to “them” will know the reality?

  14. alwyn 14

    “It will require American Citizens to file tax returns even if they live overseas. Through laws passed recently New Zealand financial institutions are obliged to provide some information to the US authorities on locally based American citizens.”

    I hope the rest of this post are more accurate than these two sentences.

    ALL American citizens, and holders of Green cards, which allow you to work in the US have been required for many, many years to put in US tax returns. I knew US citizens living in New Zealand 40 years ago who complained bitterly about having to do so. It is certainly nothing new.

    The law passed in New Zealand was to ALLOW New Zealand financial institutions to provide the information, not to force them to do so. Unless the institutions provide the material to the US Government they will essentially be unable to carry out any operations at all in the US if they have any US citizen customers anywhere in the world. They would be walloped with an enormous penalty tax on all their activities in the US. Large multi-national banks really do need to operate in the US if they are going to service their customers. In practice they will tell any US citizens to get lost and will close their accounts. I wonder how Ms Genter would get paid?

    • mickysavage 14.1

      I was trying to summarise rather complex law in a couple of sentences. The imposition of penalties is effectively forcing the institutions to hand over the information. You are right though that the law will require citizens to report assets rather than file returns.

      • alwyn 14.1.1

        Yes it is rather complicated.
        The bit I was objecting to was, at least as I read it, the implication that it is our Government that was putting the pressure on. It isn’t of course as it is the US Government that is leaning on the banks.
        The NZ Government wasn’t putting on the pressure at all. They were merely allowing the large banks to comply with the extreme pressure being put on them by the Democratic Party led Government in the US. Nothing like a bit of bank-bashing to try and win political popularity of course.

  15. Colonial Viper 15

    Infused said: “Kiwibank is a dog”

    A “dog” that all the Aussie banks would line up to buy.

    (didn’t use the reply function as it doesn’t seem to be available on this page on my browser…)
    EDIT hmmm its back now, very odd

    • fender 15.1

      I occasionally notice the reply function going missing, but unlike the missing intelligence in an Infused comment, it returns if the page is refreshed..

      • Chooky 15.1.1

        …i have to log in afresh every time i ‘can out’/leave the Standard and then come back later and reopen the Standard…sort of as if the Standard does not recognise Chooky anymore ….squawk!…lol

        • fender 15.1.1.1

          Only a machine could fail to recognise such fine feathers..

        • Anne 15.1.1.2

          Don’t worry I’m off the Xmas Card list too. Very irritating having to log in every time.

          • Clemgeopin 15.1.1.2.1

            Do you get the ‘confirm’ message for your first post in a topic? I don’t, for some time now.

            • Anne 15.1.1.2.1.1

              Don’t think so Clem. Not sure what you mean by ‘confirm’ message.

              • Clemgeopin

                When you post a comment on a Topic, you need to tick two small boxes asking to get subsequent posted messages into your email. Soon after posting, you should get an email asking you to confirm that you do want to subscribe for that topic to get up dates in your email for notification of further posts.

                Do you get that? I used to before but now I don’t! Do you get notices of new posts/comments by others?

                I don’t get them these days and that is a problem.

                • Anne

                  I’ve always just ‘searched’ my name Clem. It may mean I miss out on a few replies, but by and large its good enough for me. I’m relatively computer illiterate so its best I stick to simple methods. 🙂

          • Puddleglum 15.1.1.2.2

            Same happening with me.

    • Chooky 15.2

      CV…i think Goldman Sach would buy Kiwibank up pronto too…and John Key and his mates with their ‘blind’ trusts and share portfolios…at which point there will be a rush of New Zealanders to leave this Bank and put their money and assets in another bank or cooperative in NZ hands

  16. McFlock 16

    whoops.
    I bet they were hoping that the truth behind their corporate theft wouldn’t come out until after the election.

  17. hellonearthis 17

    $1.6 ummm I think you missed the word million there.

    • mickysavage 17.1

      I would swear it was there! I typed this on a plane and might have deleted it somehow. Now added.

      • Tracey 17.1.1

        Nice work by the chchch accountant to reveal english and treasurys david copperfield with the illusury surpkus

  18. Tautoko Viper 18

    I remembered reading this: http://www.stuff.co.nz/business/industries/8528140/Incentive-to-sell-MRP-shares-offshore

    “Incentive to sell MRP shares offshore

    The Government’s three major brokers will get double the commission for selling Mighty River Power shares to overseas investment companies rather than New Zealand institutions, Labour state-owned enterprises spokesman Clayton Cosgrove says.

    The Mighty River Power share offer document released last Friday showed the joint lead managers, Goldman Sachs, Macquarie and First NZ Capital, will get 0.4 per cent commission for selling shares to Kiwi institutional investors and 0.8 per cent for share sales to their overseas counterparts.

    Prime Minister John Key has assured New Zealanders that 70 per cent of Mighty River Power shares will remain in Kiwi hands.”

    What a rort!! Twice the commission to sell to foreign investors!!

    Traitors- selling out our country! How can you defend that, Wayne? How can you live with yourself?

  19. Graham 19

    Kiwi bank is a dog
    It’s never paid a dividend it’s effectively subsidised by nz post providing staff and locations to it
    The big banks make mega profits in nz
    Kiwi bank dosent
    Kiwibank has the rats and mice accounts
    The joke is john key is some far right wing radical he is a centrist and the more you guys scream the more votes you give national
    The sad thing is some here tonight will be pleased with the polls at 28%

    • Clemgeopin 19.1

      Kety just COPIED some of the last Labour government’s social policies for votes but his agenda and economical policies are in favour of his wealthy mates and detrimental to the rest.
      Sorry if you haven’t figured that out by now, unless you are a very rich prick yourself.

      • greywarbler 19.1.1

        @Graham 9.40
        Kiwibank is a great idea. You are the dog, the cur that tries to nip bits out of our good country, destroying it wantonly with your gang of elitist monomaniacs, me-too Minimes and naysayers.

    • felix 19.2

      Subsidised by nz post? That’s great. How handy that the state still owns things that can be used for the benefit of the people of NZ.

      The big banks make mega profits in nz? Well that’s no good for us, Graham, because that’s our money going offshore.

      And Kiwi bank doesn’t? Good.

      You make some very good points. It’s a pity you don’t know what they are.

    • Tracey 19.3

      And they remove 15 billion from our country every year, and rising. How excited you must be? I assume you are an Australian?

    • Colonial Viper 19.4

      Kiwi bank is a dog
      It’s never paid a dividend it’s effectively subsidised by nz post providing staff and locations to it

      Oh come on, the DOG meme for Kiwibank, really?

      My bet is that you’ll be amongst the first shit head Right Wingers lining up for the IPO you useless, transparent prick.

  20. mike 20

    What a bunch of envious losers you all are. If you put as much energy into trying to improve your own situation rather than believing all these conspiracy theories,enviously criticising the successful and whinging about your lot you may end up as a high income earner. The top 15% of income earners pay around 80% of income tax collected. Why dont you join in?

    • Murray Olsen 20.1

      What a brain dead wanker you are. There’s no envy here, my own situation is fine, I don’t follow conspiracy theories, but I do want a better Aotearoa for all Kiwis. Your stupid 80% statistic is rubbish, as has been shown many times. Now go and make some more money so one day you can get a trophy wife. Poor thing, I feel for her already. You simply do not understand humanity.

    • Draco T Bastard 20.2

      Very few of those high end earners that you hold in such high esteem actually earn anything. Most of them are the biggest bludgers around.

  21. Graham 21

    @felix
    So the mark of success for a socialist business is to loss money
    You are proberly not aware as most people here aren’t
    Of farmlands , Ats , Ravensdown , balance,Fontera all co-ops
    They designed to return profits back to the shareholders buy lower costs and dividends
    Farmlands has a 2 billion turnover
    Kiwi bank isn’t cheaper than my Aussie bank account
    If it was logically we all would be with them
    The secret is a person like me with a 10 million + morgage and a 7 figure turnover
    Costs the same to administer as a sickness beneficiary
    No bank would ever want to buy kiwi bank

    • One Anonymous Bloke 21.1

      About 10% of the market, roughly $100M annual profits.

      A young customer base.

      I suspect Graham’s “analysis” may be politically motivated. You can almost feel the tension 😀

      Cheer up Graham, milk prices are sure to rebound some day.

      • greywarbler 21.1.1

        @Graham 8.15
        You would never think of going to Kiwibank because they wouldn’t be able to lend you as much money as you have managed to leverage out of the bigger banks. And banks exist to lend you money so you can buy up other people’s stuff and add it to your pile, and then buy up and borrow and bury up and…whoops typo there.

        And buy up things and people and sneer and buy up and sack people and sit and stroll and plan and plot and buy up and accrete and excrete and inhale and exhale and get your human ailments treated, and be cossetted in your old age and look at your investments and sneer at those who are poorer. RIP

        Actually I was reading a bit of the book Sarum by Edward Rutherfurd and the part about the Black Death bubonic and pneumonic plague and its aftermath was interesting. It caused so much death and disruption that the villein in the story managed to change and manipulate his situation so well that he ended up a big landowner. You are fortunate that you can do the same and there didn’t even need to be a plague. If there was one perhaps you could buy up the whole of the country!
        villein
        ˈvɪlən,-eɪn/
        noun
        noun: villein; plural noun: villeins

        (in medieval England) a feudal tenant entirely subject to a lord or manor to whom he paid dues and services in return for land.
        
    • Murray Olsen 21.2

      With that turnover, you should be able to afford spelling and grammar lessons.

    • felix 21.3

      “So the mark of success for a socialist business is to loss money”

      Why do you people have to think of everything as a “business”?

      Public services don’t have to “make” money. They have to serve the public.

  22. Chooky 22

    Graham for your information New Zealanders who bank with Kiwibank are very happy…how dare you say it is a dog!

    You are the dog !( insult to dogs) …and a faux Kiwi!…just as your master John Key is a faux New Zealand rugby player…as for John Key posing as an All Black…./dont make me laugh!

    HANDS OFF OUR KIWIBANK!…KEEP IT SAFE FROM THE ROBBERS’ DOGS!

    …this should be an election issue!

    • selector 22.1

      I thought it was an election issue, didn’t the Nats say that Genesis would be the last asset sale and there would be no more on their watch?

      and by way of reminder – Labour sold our assets including NZ Steel. DFC. Air NZ, Rural Bank, Government Printing, State Insurance, THC, etc. Pot. Kettle. Black.

  23. Graham 23

    No one wants kiwi bank don’t you get that
    Why can anz/bnz/ westpac make billions of dividends and kiwi bank none?
    Get this though your thick heads
    No one wants it!!!!!

    • One Anonymous Bloke 23.1

      They say they are investing heavily in growing their market share, which makes sense to everyone except spittle-flecked politically motivated Wormtongues.

      Good of you to confirm the National Party’s future intentions though.

      Thanks.

    • Tracey 23.2

      they can make billions because successive govts on behalf of nz pulled down their pants to aussies and said “take me”

      8

  24. mike 24

    Murray, thanks for your response to my comments. You have illustrated all my points about envy, sense of entitlement and loser mentality perfectly.

    • greywarbler 24.1

      @ mike 11.30
      That’s nice you have had your sense of entitlement to everything you have won confirmed once again. All those disagreeing with you are losers and envious and lacking your perspicacity and perspiration because you are clever and hard-working not like all those others around you. You stand above the common herd and it is good to have that confirmed. Pleased to help you there. Have a good day.

    • framu 24.2

      really mike – seems like murray refuted your assertion – can you point out where he talks of envy and entitlement?

      bet you cant

  25. Graham 25

    @oab
    They haven’t paid dividends
    Why can the big banks reinvest and also pay huge dividends?
    Your kiwi bank is safe because it’s a dog

    • One Anonymous Bloke 25.1

      Do you really need to have it explained to you why banks that operate in more than one country make more money than a bank which has 10% market share in New Zealand?

      Science says right wingers are more likely to have low IQs but I didn’t realise it was universal.

      • john 25.1.1

        Dividends are measured in % yield.

        So whether a business is a large multi-national or a small cap on the NZX, or a home business, that has no bearing on whether they pay a dividend or not.

        Then you make a statement about low IQ on the right – how ironic.

        Or perhaps more accurately – moronic.

        • One Anonymous Bloke 25.1.1.1

          You’re aware that the government, as the sole owner, forsakes dividends, which is why the bank has never paid one, and that the entire stupid attack line is stupid, and demonstrates the stupidity I was alluding to.

          Do you know what forsakes means?

          • greywarbler 25.1.1.1.1

            @OAB 1.37
            You mean ‘For God’s Sake’? Or woe God has forsaken us, here in God’s Own!
            And been replaced by john. Who knows how to measure IQs, but not His Own.

    • framu 25.2

      how long till you tell us how awesome your farm is graham?

      im guessing your the same loud mouth bozo from dimpost

  26. reason 26

    Yup ………….. the same Graham who tells us there’s no shit entering our rivers from farms.

    And he thinks 1 million is a half of our population.

    He know’s some strange stuff our Graham ………..

  27. Cactus Kate 27

    “They are described in the SST article as having last year renounced their American Citizenship, presumably so that they are not caught by the US Foreign Account Tax Compliance Act.

    It will require American Citizens to file tax returns report certain assets to the IRS even if they live overseas. Through laws passed recently New Zealand financial institutions are obliged to provide some information to the US authorities on locally based American citizens”

    No – Yanks have always had to report assets and income overseas in the USA and file returns based on this regardless of where they live so FATCA makes no difference to this requirement. This couple would have had to pay a fortune in US taxes over the years when they were at their wealthiest and as they have renounced their citizenship there is an assumption they have been fully compliant with US taxes because it is a requirement in the process.

    FATCA allows the Yanks to get information directly as to whether a US person (wide definition) has a bank accounts overseas. That’s all. It will not catch anyone with massive amounts of wealth (your FATCAT envy description), just low level morons who haven’t got proper advice or more than likely haven’t listened to it, or just the bits they want to hear. And the NZ taxpayer has to pay for the privilege of assisting.

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  • Climate Change: Ban private jets
    Aviation is one of the fastest growing sources of greenhouse gas emissions, and within it, one of the fastest sources is elite travel: billionaires flitting around the world in their private jets, spewing excessive pollution into the atmosphere just so they can avoid mixing with us dirty peasants. But in ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Climate Change: Untold Suffering
    That's what we face if we don't stop climate change, according to a warning from 11,000 scientists:The world’s people face “untold suffering due to the climate crisis” unless there are major transformations to global society, according to a stark warning from more than 11,000 scientists. “We declare clearly and unequivocally ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • The left and violent misogyny
    by Phil Duncan Here’s just a few of the kind of threats issued day in and day out against gender-critical women – feminists, marxists, etc – overwhelmingly by MEN (albeit men identifying as women). “Kill all Terfs”. “Shoot a Terf today”. “All terfs deserve to be shot in the head”. ...
    RedlineBy Admin
    2 weeks ago
  • Imperialism and the iPhone
    This is the third of the synopses of parts of the opening chapter of John Smith’s Imperialism in the 21st Century (New York, Monthly Review Press, 2016). The synopsis and commentary below is written by Phil Duncan. Unlike the humble cup of coffee and t-shirt that we looked at in ...
    RedlineBy Admin
    2 weeks ago
  • The freshwater mussel housing crisis: eviction by invasive weeds?
    Tom Moore Traditionally a food source and cutting tool, freshwater mussels/kākahi are now widely valued as water filters that help clean our waterbodies and maintain ecosystem health throughout Aotearoa. The improvement they provide in water quality can make it easier for other animals to live in streams and rivers, as ...
    SciBlogsBy Guest Author
    2 weeks ago
  • Back it up Luxon: endorsing the destructive past is not actually the way forward
    And to think he gave all the potential goodwill away with that moronic, cult-like statement (repeated ad nauseam by many National hardliners) that Key is quite simply “the greatest PM we ever had”… Installation complete: this was nothing ...
    exhALANtBy exhalantblog
    2 weeks ago
  • Good riddance
    National MP and former Conservation Minister Maggie Barry will not seek re-election next year. Good riddance. Because in case anyone has forgotten, barry is a bullying thug who terrorised both public servants and fellow MPs. She is one of the people who makes Parliament a toxic workplace, and our country ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Climate Change: D-Day
    The Zero Carbon Bill is back in the House today for its second reading. While this isn't the final stage, its still effectively D-Day for the bill. Because today, at around 5pm, is when we're going to find out if it has a majority, whether National will support it or ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Winston is right
    Winston Peters is in court today, suing a bunch of former Minister and civil servants over their pre-election leak of his superannuation repayment. He's characterised the leak as malicious, and said that it is repugnant that his information was passed on to Ministers to use for political advantage. And he's ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Media impartiality
    Sky's economics editor, Ed Conway has posted a Twitter thread responding to a claim that - as far as I can see - Labour never made:
    Are NHS operation cancellations at an all-time high? That's the impression you might have been left with if you read this story from the ...
    2 weeks ago
  • Finish what’s on your plate
    Murray Cox Do I have to finish my favourite genome? That’s an often-asked question. Geneticists generally strive to produce high-quality genomes that sequence every last gene, making full use of the state-of-the-art technologies coming on stream. Sequencing DNA means determining the order of the four chemical building blocks – called ...
    SciBlogsBy Genomics Aotearoa
    2 weeks ago
  • Gainful Employment: A Cautionary Tale.
    Transformative Politics: The idea is to turn each recipient into an unwitting accomplice in their own transformation. From interested observer to hyped-up activist, sharing our messages promiscuously with ‘friends’. You’ll be part of an ever-expanding circulatory system, Jennifer, for the ideas that will win us the election.”JENNIFER SKITTERED her chair ...
    2 weeks ago
  • New Zealand should not fund bigotry
    Two years ago, the Cook Islands government announced that it was planning to join the civilised world and decriminalise consensual homosexual sex between men. Now, they've reversed their position, and decided to criminalise lesbians into the bargain:Two years ago, in a step welcomed by many people including the gay and ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • New Fisk
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • More tyranny in Australia
    The boycott is a fundamental tool of protest. By choosing who we buy from, we can send a message, and hopefully change corporate behaviour. Historically, boycotts have been effective, for example over apartheid in South Africa and Israel, in forcing divestment from Myanmar, and in ending bus segregation in the ...
    No Right TurnBy Idiot/Savant
    2 weeks ago

  • Kiwis to have their say on End of Life Choice
    Jenny Marcroft MP, Spokesperson for Health New Zealand First backs the public to decide on the End of Life Choice Bill via a referendum at the 2020 General Election. The Bill, with New Zealand First’s referendum provision incorporated, passed its final reading in Parliament this evening. New Zealand First Spokesperson for ...
    3 days ago
  • Addressing miscarriages of justice
    Darroch Ball, Spokesperson for Justice New Zealand First is proud that a key Coalition Agreement commitment which will provide for a more transparent and effective criminal justice system has been realised. Legislation to establish the Criminal Cases Review Commission, an independent body focused on identifying and responding to possible miscarriages of ...
    4 days ago
  • Week That Was: Historic action on climate change
    "Today we have made a choice that will leave a legacy... I hope that means that future generations will see that we, in New Zealand, were on the right side of history." - Jacinda Ardern, Third Reading of the Zero Carbon Bill ...
    1 week ago
  • Tax-free deployments for Kiwi troops
    Darroch Ball, New Zealand First List MP A Member’s bill has been proposed that would provide income tax exemptions for all New Zealand Defence Force (NZDF) personnel while on operational deployment overseas. The Income Tax (Exemption for Salary or Wages of NZDF Members on Active Deployment) Amendment Bill proposed by New Zealand First ...
    1 week ago
  • A balanced Zero Carbon Bill passed
    Rt Hon Winston Peters, New Zealand First Leader New Zealand First is proud to have brought common sense to the Climate Change Response (Zero Carbon) Amendment Bill, which passed its final reading in Parliament today. Party Leader Rt Hon Winston Peters says months of hard work went into negotiating a balanced ...
    1 week ago
  • Paramedics’ status to be recognised
    Jenny Marcroft MP, Spokesperson for Health New Zealand First has listened to calls to recognise paramedics as registered health professionals under the Health Practitioners’ Competence Assurance Act (the Act). Today, the Coalition Government announced plans for paramedics to be registered as health practitioners under the Act, and the establishment of a ...
    2 weeks ago
  • Week That Was: 2,000 teachers in two years
    We began the week by commemorating the New Zealand Wars and celebrating a major increase in the number of teachers. Then, we were busy supporting offenders into work and getting our rail back on track after years of underinvestment. And that's just the start! ...
    2 weeks ago
  • Winning an election one conversation at a time
    In October I was sworn in as the Mayor of Lower Hutt. It’s the privilege of my life to serve Hutt people as their Mayor. There is something really special to be able to serve the community where I was raised, and where I live.   ...
    2 weeks ago
  • Closer cooperation with Korean horse racing industry
    Rt Hon Winston Peters, Deputy Prime Minister, Minister for Racing Racing Minister Winston Peters met with Korea Racing Authority Chairperson Nak Soon Kim in Seoul today to discuss closer cooperation between the New Zealand and Korean horse racing industries. As part of the visit to the Seoul Racecourse, Mr Peters witnessed ...
    3 weeks ago
  • Otago to lead digital creativity
    Hon Shane Jones, Minister for Regional Economic Development The Provincial Growth Fund (PGF) is investing $10 million to establish Otago as the centre of New Zealand’s creative digital industry over the next ten years, Regional Development Minister Shane Jones announced today. “The initiative will bring us closer to the vision of ...
    3 weeks ago
  • Young Otago students encouraged to take on forestry careers
    Hon Shane Jones, Minister for Regional Economic Development The Provincial Growth Fund (PGF)’s skills and employment programme will help young Otago people into long-term forestry careers, Regional Economic Development Minister Shane Jones announced today. Te Ara Mahi will invest $63,000 in the 2020 school year to support eight 17 and 18 ...
    3 weeks ago
  • PGF backing Dunedin’s waterfront ambitions
    Hon Shane Jones, Minister for Regional Economic Development The Provincial Growth Fund (PGF) will support local plans to revitalise and stimulate economic development opportunities in Otago, Regional Economic Development Minister Shane Jones has announced. The four Regional Economic Development Ministers have approved an in-principle investment of $19.9 million towards the region’s ...
    3 weeks ago
  • M. Bovis eradication progress welcomed
    Mark Patterson, Spokesperson for Primary Industries New Zealand First is pleased to have received the Technical Advisory Group (TAG) report on the Coalition Government’s Mycoplasma bovis eradication efforts, which shows significant progress in the fight against the disease. New Zealand First Spokesperson for Primary Industries, Mark Patterson, says the report’s findings ...
    3 weeks ago
  • PGF boosts Otago’s engineering and manufacturing sector
    Hon Shane Jones, Minister for Regional Economic Development Hon David Parker, Minister for Trade and Export Growth The Provincial Growth Fund (PGF) is investing to support economic growth opportunities for Otago’s engineering and manufacturing sectors, Regional Development Minister Shane Jones and Trade and Export Minister David Parker announced today. Almost $20 million ...
    3 weeks ago
  • Minister Peters discusses Pacific challenges and denuclearisation in Seoul
    Rt Hon Winston Peters, Deputy Prime Minister, Minister of Foreign Affairs Foreign Minister Winston Peters and his South Korean counterpart, Kang Kyung-wha, discussed in Seoul today opportunities to work more closely in the Pacific and the situation on the Korean Peninsula. Mr Peters and Minister Kang confirmed New Zealand and the ...
    3 weeks ago
  • PGF supports high speed broadband for marae at Parihaka Pa
    Hon Shane Jones, Minister for Regional Economic Development  Hon Nanaia Mahuta, Minister for Māori Development The three marae in the historic Parihaka Pa complex in Taranaki have been upgraded to high speed broadband with the support of the Provincial Growth Fund (PGF), Regional Economic Development Minister Shane Jones announced today. “Connecting the ...
    3 weeks ago
  • Advancing Pacific Partnerships 2019 launched
    Hon Ron Mark, Minister of Defence Minister of Defence Ron Mark will today launch the Advancing Pacific Partnerships 2019 Defence Assessment  during a speech at Te Papa.  The Assessment outlines how Defence will partner with our Pacific Island neighbours and invest in Pacific regional security architecture. The Plan aligns with the Coalition ...
    3 weeks ago
  • PGF funding could transform Gisborne company into “beacon of employment” in two years
    A new Provincial Growth Fund investment could create about 80 new jobs in Gisborne over the next two years, turning a local small business into a “beacon of employment” in the process. Regional Economic Development Parliamentary Under-Secretary Fletcher Tabuteau said the PGF’s Te Ara Mahi funding stream would provide $1.6m ...
    3 weeks ago

  • Fairer rules for tenants and landlords
    The Government has delivered on its promise to the over one million New Zealanders who now rent to make it fairer and more secure, Associate Minister of Housing (Public Housing) Kris Faafoi has announced today. Both renters and landlords will benefit from the suite of practical changes to the Residential ...
    BeehiveBy beehive.govt.nz
    7 hours ago
  • Food industry asked to step up fight against obesity
         The Government is asking the food industry to step up work to tackle obesity including reducing sugar, fat and salt in their products, better information for consumers, and tighter restrictions on advertising to children. Health Minister David Clark and Food Safety Minister Damien O’Connor have responded to a ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Modern emergency care for Queenstown area
    ew, modern emergency department and outpatient facilities at Queenstown’s Lakes District Hospital mean better emergency care for the growing tourist mecca’s visitors and locals, says Health Minister David Clark. Today Dr Clark officially opened the hospital’s redeveloped Emergency Department and Outpatient facilities. The new facilities include: •    An extended Emergency Department ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Contraception important for New Zealanders
    Associate Health Minister Julie Anne Genter says today’s release of sexual and reproductive health data reinforces the significance of the Government’s commitment to providing free or very low-cost contraception. The Ministry of Health today published statistics from the Ministry of Health’s 2014/15 Health Survey. “It is important people can make ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • NZ medical staff and measles vaccines going to Samoa
    Foreign Minister Winston Peters has announced that at the request of the Samoan Government, New Zealand will be providing further support to Samoa as it faces a worsening measles outbreak. “In response to a request from the people of Samoa, New Zealand is providing 3000 measles, mumps and rubella (MMR) ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Disability Action Plan 2019 – 2023
    “The new Disability Action Plan 2019–2023 moves us towards the inclusive and accessible New Zealand that this government has committed to,” Minister for Disability Issues Carmel Sepuloni announced today.  “The Action Plan was designed by disabled people, their family and supporters, the disability sector and government agencies. It will ensure ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Joint Statement – Third Singapore-New Zealand Defence Ministers’ Meeting
    Third Singapore-New Zealand Defence Ministers’ Meeting 14 November 2019 Joint Statement 1. Defence Ministers Ron Mark and Dr Ng Eng Hen today conducted their third annual Singapore-New Zealand Defence Ministers’ Meeting in Singapore. 2. Building on the Enhanced Partnership signed between both countries in May this year, this annual meeting ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Sexual Violence Legislation Bill has its first reading
    A Bill to improve the court system’s response to sexual violence has passed its first reading in Parliament today. Justice Minister Andrew Little says the Sexual Violence Legislation Bill will reduce the trauma sexual violence complainants experience in court, while maintaining defendants’ fundamental rights and making sure the trial process ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Streamlined business invoicing a step closer
    Streamlined payment practices are a step closer for Kiwi businesses with the formal launch of New Zealand’s e-Invoicing framework. Small Business Minister Stuart Nash says the government has now established the structure to enable automated and direct data exchange between the accounting systems of buyers and sellers. “The move to ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • More frontline biosecurity officers protecting NZ
    Another 51 quarantine officers and four new biosecurity detector dog teams will help protect New Zealand from invasive pests and diseases this summer, says Biosecurity Minister Damien O’Connor. “The Government is delivering on its commitment to strengthen New Zealand’s biosecurity system and support our valuable primary sector “New Zealand’s flora, fauna ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • NZ space economy worth $1.69 billion
    A new report has found New Zealand’s space sector contributed $1.69 billion to the economy in the last financial year and employs 12,000 people, Minister for Economic Development Phil Twyford announced today. The report by Deloitte was commissioned by the Ministry of Business, Innovation and Employment and shows New Zealand ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • New Chair for Royal Commission into Abuse
    Judge Coral Shaw has been appointed as the new Chair of the Royal Commission into Historical Abuse in State Care and in the Care of Faith-based Institutions, Internal Affairs Minister Tracey Martin announced today. "Judge Shaw, who is currently one of the inquiry commissioners, is extremely well qualified for the ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Better mental health facilities for Palmerston North
    The Government has confirmed its third major mental health facility upgrade since the Budget, this time at Palmerston North Hospital. The Prime Minister and Health Minister today visited MidCentral DHB to announce that $30 million has been allocated to upgrade its acute mental health facility. It follows earlier announcements in ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Bowel Screening hits halfway point
    The roll out of the National Bowel Screening Programme has reached the halfway mark, with 10 out of 20 District Health Boards now part of the programme. MidCentral DHB, which covers Palmerston North, Manawatu and surrounding districts, this week became the latest to DHB to offer free bowel screening to ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • More vaccines for meningococcal disease
    The Government welcomes PHARMAC’s decision to fund a vaccine to protect young people from meningococcal disease from 1 December this year. “Meningococcal disease is a serious threat which people at higher risk should be protected from,” says Associate Health Minister Julie Anne Genter. “The combined pharmaceutical budget was increased by ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Fisheries innovation projects supported
    Groups involved with innovative fisheries research projects are encouraged to apply for government support in the latest funding round from the Sustainable Food and Fibre Futures programme. Fisheries Minister Stuart Nash says the SFF Futures funding is designed to be flexible enough to support small or large projects across a ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Government fixes culturally arranged marriage visa issue
    The Government has fixed an issue affecting how Immigration New Zealand has processed visa applications for culturally arranged marriages, which will now see a consistent process applied which ensures people with legitimate arranged marriages can visit New Zealand while also preventing any rorting of the system. Earlier this year Immigration ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Extension for Royal Commission into Mosque attacks
    The Royal Commission into the Attacks on Christchurch Mosques will report back on 30 April 2020 to give it more time to hear submissions and consider information, Internal Affairs Minister Tracey Martin announced today. The Royal Commission was originally scheduled to report back to Government by 10 December 2019. “There has ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Terrorism and Trade on agenda as Foreign Minister visits the United States
    Foreign Minister Winston Peters will travel to Washington DC today to attend a ministerial meeting focused on defeating ISIS, and to continue pursuing New Zealand’s trade opportunities. Mr Peters will participate in a meeting of Foreign and Defence Ministers from key countries contributing to the Global Coalition to Defeat ISIS. ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Hoiho get extra support alongside 168 community conservation groups backing nature
    The recently crowned Bird of the Year, the hoiho/yellow eyed penguin, is getting a much needed helping hand alongside more than 168 other community conservation projects announced Minister for Conservation Eugenie Sage today. 168 community conservation projects throughout New Zealand are benefiting from $8 million in government grants, including $500,000 ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • New safety measures for modified pistols
    Controls on assault rifles and semi-automatic firearms are to be broadened to include some types of pistols, under changes to a bill currently making its way through Parliament. Police Minister Stuart Nash has tabled a Supplementary Order Paper to the Arms Legislation Bill, which is currently before a Select Committee ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Minister of Defence to visit Singapore and Thailand
    Minister of Defence Ron Mark will travel to Singapore today to conduct a counterpart visit and to co-chair the third annual Singapore-New Zealand Defence Ministers’ Meeting with his counterpart, Minister for Defence Dr Ng Eng Hen. “Singapore is one of our most important defence partners in the region, and our ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Future secured for Salisbury School
    Nelson’s Salisbury School is to be rebuilt, creating a modern and suitable learning environment for students at the residential special school, Education Minister Chris Hipkins and Associate Education Minister Tracey Martin announced today. The school for girls aged 8-15, in Richmond, was earmarked for closure by National until the process ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Resource management reform options released
    The panel undertaking a comprehensive review of the Resource Management Act has identified the main issues to be addressed and options for reform and is calling for feedback to inform its final report.  In July the Government announced the comprehensive review of the resource management system, including the RMA - ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Criminal Cases Review Commission established
    An important safety valve has been added to New Zealand’s criminal justice system with the third reading of the Criminal Cases Review Commission Bill today. The Criminal Cases Review Commission (CCRC) will investigate claimed miscarriages of justice. “We’ve seen how our justice system can very occasionally get things spectacularly wrong, ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Racing Industry destined to be on-track
    Racing Minister Winston Peters welcomes the tabling of the Racing Industry Transition Agency (RITA) 2019 Annual Report in Parliament today. He says the 2019 Annual Report marks the point when New Zealand’s racing industry’s decline was arrested and a turnaround started. RITA’s 2019 Annual Report recorded an industry net profit ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • New Zealand firefighter support to Queensland
    The New Zealand Government is today sending 21 firefighters to help fight the ongoing catastrophic Australian bushfires. “The fires in Australia are in some of the toughest, most challenging conditions ever,” says Internal Affairs Minister Tracey Martin.  “As of yesterday morning, there were 100 active bushfire-related incidents across Queensland and ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Supporting all schools to succeed
      More frontline support for schools through a new education agency, as part of a redesigned Ministry of Education More support for principals and school boards including through a new centre of leadership and local leadership advisor roles New independent disputes panels for parents and students Management of school property ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Reform to support better outcomes for Māori learners and whānau
    The Government’s reform of the Tomorrow’s Schools system is a watershed moment in education and an opportunity to create meaningful change for ākonga Māori and their whānau, Associate Education Minister Kelvin Davis said today. “Last year through Kōrero Mātauranga | Education Conversation, Māori teachers, parents, ākonga, whānau, hapū and iwi ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Infrastructure pipeline growing
    Infrastructure Minister is welcoming the first of many updated project pipelines from the newly established New Zealand Infrastructure Commission today. The New Zealand Infrastructure Commission, Te Waihanga, has released an expanded pipeline of major capital projects – another crucial step towards delivering better infrastructure outcomes. “The first iteration of the ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Tighter firearms law to further improve safety
    Tougher gun laws designed to improve public safety through firearms prohibition orders are proposed in a new document released for public input. Police Minister Stuart Nash says firearms prohibition orders (FPOs) would give new powers to Police to ensure high-risk individuals come nowhere near firearms. “We have already prohibited the ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • New TVNZ chair & directors confirmed
    Andy Coupe has been confirmed as TVNZ’s new Board Chair. “Mr Coupe has strong commercial and capital markets experience and TVNZ has benefited from his technical knowledge of business and finance, as well as his extensive governance experience,” the Minister of Broadcasting, Communications and Digital Media Kris Faafoi said.  Andy ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Hutt Road cycle path officially opened
    Associate Minister of Transport Julie Anne Genter today officially opened a separated pathway, following the completion of the Kaiwharawhara Stream bridge, which will improve safety for cyclists and pedestrians along Hutt Road.  The $6.8m Hutt Road project provides a separated path for cycling and pedestrians, the replacement of informal parking ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Announcement of new Ambassador to Russia
    Foreign Affairs Minister Winston Peters today announced the appointment of career diplomat Si’alei van Toor as New Zealand’s next Ambassador to Russia. “I’m pleased to appoint Ms van Toor to this position. She brings a wealth of experience to the role having previously served as Senior Trade Adviser to the ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Half Year Economic and Fiscal Update
    The Treasury’s 2019 Half Year Economic and Fiscal Update (HYEFU) will be released on Wednesday December 11, Finance Minister Grant Robertson says. The Coalition Government will publish the 2020 Budget Policy Statement at the same time, outlining the priorities for Budget 2020. Further details on arrangements for the release will ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Giving a Boost to Kiwi small businesses
    A new initiative to better support small businesses through hands-on mentoring and advice has been launched by the Minister for Small Business. The first event in the Kiwi Business Boost series of regional workshops and online tools has been launched in Wairoa by Stuart Nash. “The Business Boost initiative combines ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Nearly three quarters of Rolleston connected to UFB
    The latest Quarterly Connectivity Report shows that more and more New Zealanders are moving to Ultra-fast Broadband (UFB), with Rolleston having the highest uptake at 74 per cent, as at the end of September. “This means that nearly three quarters of Rolleston’s households and businesses have moved to ultra-fast services. ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Historic day for landmark climate change legislation in New Zealand
    The passing of the Climate Change Response (Zero Carbon) Amendment Bill will help ensure a safe planet for our kids and grandkids, the Minister for Climate Change James Shaw said today. The landmark legislation which provides a framework to support New Zealanders to prepare for, and adapt to, the effects ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Release of Oranga Tamariki Practice Review
    The review of Oranga Tamariki practice around the planned uplift of a Hastings baby in May shows significant failings by the Ministry and that the planned and funded changes to shift from a child crisis service to a proper care and protection service need to be accelerated, Children’s Minister Tracey ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Minister wishes students success in exams
    Education Minister Chris Hipkins has wished students the best of luck for this year’s NCEA and New Zealand Scholarship exams which start tomorrow. Around 140,000 students will have participated in 119 NCEA and New Zealand Scholarship exams by the end of the exam period on 3 December. “I want to ...
    BeehiveBy beehive.govt.nz
    1 week ago