‘Mum & Dad’ right to be angry with Nats

Written By: - Date published: 9:42 am, December 5th, 2013 - 40 comments
Categories: privatisation - Tags:

Mighty River, Meridian, and Air New Zealand are all now trading well below their listing prices (Mighty River is down 20%!) costing ‘mum and dad investors’ tens of millions of their savings. When journalists raise that with National, Bill English’s angry response is ‘you would be complaining if they had made windfall gains too’. He’s right. And there’s the rub. The Government has conflicting interests in a share sale.

On the one hand, the Government does have a duty to be a good steward of public wealth. That should have meant not selling the assets in the first place. Secondly, it should mean getting a good price if you’re stupid enough to sell. National failed on those measures. Mighty River and Meridian both sold for significantly less than expected.

On the other hand, the Government has a fiduciary duty in dealing with its citizens, especially when they are on opposite sides of a contract. That is, they shouldn’t be out to rip us off. So, the New Zealanders who listened when ministers said that these would be great investments, an opportunity to diversify from housing and take on a stake in a solid infrastructure company, and acted as the government intended when they saw National’s $8 million ad campaign encouraging them to buy shares have a right to feel aggrieved. After all, they only did what the Government told them to do, and they’re poorer for having done it.

Doesn’t that put the Government between a rock and a hard place? Sell too cheap and be damned as privatising public wealth when the price rises; sell to expensively and be accused of tricking people out of their savings. Yeah, it kind of does. What’s the solution? How about don’t sell the bloody things?

Last night, English told Garner that the odds of selling Genesis are only 50/50. Seems even he can learn.

*If anyone tries to claim that losses in share values ‘don’t count’ until you sell the shares, you’re a fucken moron. The NZX records the change in the dollar value of shares, why wouldn’t you? Do you think changes in the value of your house ‘don’t count’ until you sell? Because the bank thinks they count. Does a business or the government ‘not count’ changes in the value of its non-cash assets and liabilities? How can you work out the economics of keeping an investment if you don’t use its current market value when making your decision?

40 comments on “‘Mum & Dad’ right to be angry with Nats”

  1. Puckish Rogue 1

    *If anyone tries to claim that losses in share values ‘don’t count’ until you sell the shares, you’re a fucken moron

    – They don’t because I’m happy with the divedends I’m receiving which is why I bought them. Warren Buffett always talks about how he buys shares with the view that the stock market might close for ten years so the day to day or month to month performance doesn’t bother him so I tend to take more notice of what he says (about shares anyway)

    • Lightly 1.1

      yeah, read Warren Buffet’s annual reports – it’s all about share price movements. In fact, Buffet never pays dividends, the gain or lose you get from investing in him is entirely dependent on share price movements.

    • Rich 1.2

      Tell you what, how about giving me $20k. I’ll pay you an 8% ‘dividend’. If you want the money back, I’ll give you everything I haven’t spent – maybe a couple of grand if you’re lucky..

      • Puckish Rogue 1.2.1

        Show me proof of earnings for the last decade and a prospective and I’ll judge the investment on its merits

    • Draco T Bastard 1.3

      They don’t because I’m happy with the divedends I’m receiving which is why I bought them.

      Perfect definition of a Bludger – someone who gets something for doing nothing.

      • Puckish Rogue 1.3.1

        Minus the tax from the earnings of course so not a bludger at all

        • Draco T Bastard 1.3.1.1

          Doesn’t matter how much tax you pay, you’re still getting something from other peoples work which you didn’t help with and so you’re a bludger.

          • Matthew Whitehead 1.3.1.1.1

            Well, that depends- did he actually work hard* for the money he invested in the first place?

            I’m all for people getting a return on investing their wages. That’s fine. It’s the fact that some people inherit vast sums of wealth or that people are paid more than they can possibly contribute to an organisation that cheeses me off.

            So, I think people should choose: Do they want the ability to get a return on capital, or do they want inheritance and padded paychecks? Because having both is completely unreasonable.

            *ie. not inherit, or not earn in an overpaid position like corporate CEO, commodities trader, etc…

        • idlegus 1.3.1.2

          bennies pay tax too…

      • Wayne 1.3.2

        He did do something. He spent his capital to buy the shares. Or do you think interest (and dividends) are immoral. And that capital is free.

  2. dv 2

    PR
    BUT the market price will factor in the dividend expectation.

    Contact has produced about 6% pa over the 12 years.
    That is below the average bank rate.

    • Puckish Rogue 2.1

      The banks giving 4-5% return at the moment so I’m still happy with the divedends…

      • QoT 2.1.1

        “Yes, I stole your car, but I’m still giving you a cut of the petrol money so I’m the good guy here.”

      • Judge Holden 2.1.2

        The banks are paying 4-5% and you’re happy with -20%. You’re a genius.

        • Akldnut 2.1.2.1

          PR – I’ve got a bridge that you may be interested in, if not, I have a friend who’s brother in laws nephews, girlfriends best friend has a freehold farm in the Waikato and she’s looking at swapping it for a car because she hasn’t got on to make it to her Winz appointments. Interested?

  3. Lanthanide 3

    Do you think changes in the value of your house ‘don’t count’ until you sell? Because the bank thinks they count.

    That depends entirely on whether you care what the bank thinks. If there is no mortgage on the property, and you’re not trying to use the equity as leverage for any other purpose, then it doesn’t matter at all what the market value of your house is… until you come to sell it.

    Which is exactly the same for shares, if you’ve bought those shares with the intention to hold on for long-term gains. The present-day market value literally does not matter to you if you are not trying to use that notional value for any purpose.

    The takeaway from this is that losses in share value matters to *some people*, and to others it doesn’t matter at all. So insisting that the loss in share value matters to everyone who holds the shares makes you look very ignorant.

    • Puckish Rogue 3.1

      Hey be fair to the guy, hes probably just trying earn a paycheck (maybe I mean I’m just guessing as to why he does it)

    • Lightly 3.2

      this is so fucken stupid.

      If I spend $1000 on a financial asset and now I can only sell it for $800, then it is now worth $800 on my books. It’s not still worth $1000 just because I don’t want to face the truth.

      • Lanthanide 3.2.1

        I’m not saying it’s not worth $800.

        I am replying to James’ point:

        If anyone tries to claim that losses in share values ‘don’t count’ until you sell the shares, you’re a fucken moron.

        IF you don’t care about the share price, because it doesn’t matter to you, then the claim that the losses in share values “don’t count” is true.

        It is perfectly legitimate to “not care” about the price of the shares, and doing so does not make you a “fucking moron”. It just means you have different financial priorities from someone who does care about the price of shares. James is wrong.

        • Lightly 3.2.1.1

          it does make you a fucken moron if you hand over $1000 for something and then don’t care what happens to its value. Because if you don’t monitor changes in that value, you can’t possibly assess whether continuing that investment is rational.

          • alwyn 3.2.1.1.1

            In that case you are calling Bill Gates a “fucken moron”.
            In the dot.com crash of 2000 Gates was estimated to have lost more than $20 billion because of the drop in the value of his Microsoft shares,
            He said that he didn’t care and that as far as he was concerned nothing had changed. As he said, Micosoft hadn’t changed and he still owned the same percentage as he had yesterday so why should he care? As far as he was concerned he hadn’t lost anything.
            Still you are no doubt much smarter than the moron Bill aren’t you?

          • Lanthanide 3.2.1.1.2

            Once again, if someone who is investing in shares is doing it on the basis of “this will pay me a dividend, I don’t care whatsoever about the share price in the short-medium term” then the share price in the short-medium term literally is meaningless to them.

            Get it through your thick head that not everyone makes investment decisions on the same basis.

            Now, if suddenly the dividend payout became much less than they had been anticipating, they would likely be concerned. And similarly the share price itself would likely reduce to match the reduced future-flow of dividends. Which could put them in a pickle if they ended up needing to sell.

          • Matthew Whitehead 3.2.1.1.3

            Let me put it to you this way:

            Say you invest $1,000 in a company that pays you a $25 yearly dividend, but their current market value has halved, so you’ve “lost” $500, notionally.

            If that dividend looks set to stay stable or increase over the long term, and you intend to hold on to the shares for 50 years, are you an idiot?

            The answer is: No, you’ll achieve a 25% return on your investment, plus the market value of the shares if you choose to sell them afterwards. It’s perfectly legitimate to hold on to shares for their dividends, in fact, it’s usual practice.

            So, people might not currently feel bad about buying power company shares. (Especially if they think that a buy-back is on the table. For sighing.) The real question is how they’ll feel if we get the promised NZ Power setup with a new government. 😉
            (Well, that and the concept of participating in asset theft)

    • Disraeli Gladstone 3.3

      +1000

      Thank you.

  4. rich the other 4

    So Key isn’t looking after his mates after all.
    The cry !Looking after his rich mates! is proven to be another green/labour fairy tale..
    green/labour will be delighted they have managed to undermine the value of ” mum and dads” investment which also means our 51% has also declined at the same rate.
    We all loose , thank’s green/labour, a real incite to your business management skills.
    If they ever get a chance they will bankrupt us all.

    • framu 4.1

      “The cry !Looking after his rich mates! is proven to be another green/labour fairy tale..”

      just because the share price dropped?

      you really are a simplistic, one dimensional fellow arent you

      and can you explain how green/lab reduced the value when it was nationals decision to persue the sales in the way they have inspite of the announcement of NZ power

      why do you hate the opposition for announcing their intentions ahead of the sales?

      Its not a shop – they are state owned assets being sold in a recession against popular will – the whole thing is 100% political.
      Even national know this – their entire policy and sales messaging would have been different if they thought it was just a financial deal wouldnt it

    • Mike S 4.2

      “which also means our 51% has also declined at the same rate.”

      Assuming that the government isn’t going to sell off the remaining 51% (to their rich mates), then the “decline” you mentioned means nothing at all. The 51% of the assets and infrastructure still have the same value as they did before the sale. Only those who purchased shares have seen a decline in their investment value and we all know they aren’t “mums and dads”.

      If you think share prices are indicative of the true actual worth of a company then you’re way misguided.

    • So Key isn’t looking after his mates after all.
      The cry !Looking after his rich mates! is proven to be another green/labour fairy tale..

      Not at all, rich.

      The Nats cut taxes twice for the top income earners. That lost the government billions in lost revenue. So the Nats had to borrow more to make up for it, and sell down state assets.

      In turn the top income earners were able to but shares in SOEs with the extra cash they received through the ’09 and ’10 tax cuts.

      And with the loss of 49% of Meridian, Air NZ (a bit less), and Mighty River Power, this government (and future governments) face a drop in revenue.

      All because the Nats went ahead with tax cuts we could ill afford.

      Have I left anything out about the Nats looking after their mates?

  5. rich the other 5

    famu ,
    That’s a strange question,
    (why do you hate the opposition for announcing their intentions ahead of the sales?)

    National announced their intentions to SELL 49% BEFORE the last election , they WON and their coalition partners accepted that policy.
    Make no mistake , the losses being incurred by “mum and dad ” investors is a direct result of green/labours threats to interfere in the electricity market.

    • Will@Welly 5.1

      The share value has dropped because the Government has flooded the market with one commodity – electricity. And is threatening to put more shares into the marketplace. Many speculators sold their shares in the first couple of days. Don’t blame Labour/Greens – blame a flawed ideology.

    • framu 5.2

      and lab/green announced their intention in response before the first float happened didnt they.

      its not a strange question at all – when should any opposition party announce their policy intentions? before or after? – warn or surprise?

      if you think that it would have been better for lab/green to keep it secret your worse than a moron… oh wait… i get it… you think that the opposition had no right whatsoever to announce policy intentions regarding an asset that the state has majority ownership of dont you.

      Yeah, theres some rather unsavory words for people who have that view of democracy

      ————————————–

      national didnt win you moron – they didnt get over 50%. The coalition won – and all the coalition won was the mandate to from the govt

      exactly how many times does this have to be pointed out to people like you?

      ——————————————

      I see that you think that NZ power was the only thing that affected the share price – so pushing multiple assets of the same nature onto the market at roughly the same time didnt have any effect? – treasury thinks it did

      over valuing the asset to talk up the expected gain didnt have an effect?

      but keep going – please

    • Mike S 5.3

      So if labour had announced their policy after the sales you’d be happy? Announcing before the sales was the responsible thing to do, it allowed people to factor the Labour policy into their decision whether to purchase or not.

    • Make no mistake , the losses being incurred by “mum and dad ” investors is a direct result of green/labours threats to interfere in the electricity market.

      Rich, I believe the Labour-Green opposition gave fair warning of their intentions. What your mythical “mum and dad” investors did afterward was of their own volition. It’s called taking responsibility which, I understand, right wingers are pretty Big on.

      Anyway, if anyone interfered with the “electricity market”, I believe it was the Nats. How moronic is it to flood a small share market like New Zealand’s, and express surprise when the price of shares drops.

      The more there is of an item, the lower the price. (Eg; powerco shares.)

      The less there is of an item, the higher the price. (Eg, housing in Auckland and Christchurch.)

      FFS, man, that’s Free Markets Economics 101: supply and demand. Do we have to draw you a pretty picture with bright crayons to explain it?! (And why on Earth do we leftists have to explain this simple thing to neolibs like you in the first place?!)

  6. The Gormless Fool formerly known as Oleolebiscuitbarrell 6

    On the one hand, the Government does have a duty to be a good steward of public wealth. That should have meant not selling the assets in the first place.

    Doesn’t being a good steward of public wealth require you to sell the assets in certain circumstances? If you knew the assets were bullshit, or you could make a better return elsewhere, or someone was willing to pay considerably more than they were worth, for instance.

Recent Comments

Recent Posts

  • CTU speech – DPM
    Ladies and gentlemen, NZCTU President Richard Wagstaff, members of respective unions – thank you for the invitation to speak to you today. This might be preaching to the choir, but the importance of trade unions in New Zealand’s historical arch is difficult to understate. And it is my belief that ...
    BeehiveBy beehive.govt.nz
    14 hours ago
  • Police Association Annual Conference
    "Let’s start by acknowledging that it has been a huge year. " Police Association Annual Conference James Cook Grand Chancellor Hotel Wellington Nau mai, haere mai. Tēnā koutou, tēnā koutou, ka nui te mihi, ki a koutou katoa. President of the Police Association, Chris Cahill; Members of the Association and ...
    BeehiveBy beehive.govt.nz
    15 hours ago
  • New Zealand announces a further P-3 deployment in support of UN sanctions
    Minister of Foreign Affairs Winston Peters and Minister of Defence Ron Mark have announced the New Zealand Government’s decision to again deploy a Royal New Zealand Air Force P-3K2 (P-3) maritime patrol aircraft to support the implementation of United Nations Security Council (UNSC) resolutions imposing sanctions against North Korea. New ...
    BeehiveBy beehive.govt.nz
    18 hours ago
  • New Zealand deeply concerned at developments in north-east Syria
    Foreign Affairs Minister Winston Peters says New Zealand continues to have serious concerns for peace and stability in north-east Syria. “Recent reports that hundreds of ISIS-affiliated families have fled from a camp are deeply concerning from a humanitarian and security perspective”, Mr Peters says. “While we acknowledge Turkey’s domestic security ...
    BeehiveBy beehive.govt.nz
    18 hours ago
  • Government on high alert for stink bugs
    Biosecurity Minister Damien O’Connor is warning travelling Kiwis to be vigilant as the high-season for the crop-eating brown marmorated stink bug (BMSB) is under way. “We’re on high alert to stop BMSB arriving in NZ. The high season runs until April 30 and we’ve strengthened our measures to stop stink ...
    BeehiveBy beehive.govt.nz
    19 hours ago
  • Better protections for students in halls of residence
    The Government is moving swiftly to change the law to improve the welfare and pastoral care of students living in university halls of residence and other tertiary hostels. Cabinet has agreed to several changes, including creating a new mandatory Code of Practice that sets out the duty of pastoral care ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • New trapping guide for community and expert trappers alike
    The Minister for Conservation Eugenie Sage has launched a new comprehensive trapping guide for community trappers to help them protect our native birds, plants and other wildlife, at Zealandia in Wellington today. ‘A practical guide to trapping’, has been developed by the Department of Conservation (DOC), and was launched during ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Widening Access to Contraceptives Welcomed
    Associate Health Minister Julie Anne Genter welcomes PHARMAC’s move to improve access to long-acting reversible contraception (LARCs). PHARMAC has today announced it will fund the full cost of Mirena and Jaydess for anyone seeking long term contraception, lifting previous restrictions on access to Mirena. “I welcome women having greater choices ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Major upgrade for Taranaki Base Hospital
    The Government has approved the next stage of a major redevelopment of Taranaki Base Hospital, which will deliver new and improved facilities for patients. Health Minister Dr David Clark has announced details of a $300 million dollar project to build a new East Wing at the New Plymouth hospital. It ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Extra support for rural families
    Extra funding will allow Rural Support Trusts to help farming families, says Minister for Rural Communities and Agriculture Damien O’Connor. “I know that rural families are worried about some of the challenges facing them, including the ongoing uncertainty created by the Mycoplasma bovis outbreak. “Those concerns sit alongside ongoing worries ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Howard Leaque Beekeeper programme graduation
    Thank you for the opportunity to be here to present certificates to the 16 graduates who have completed a beekeeping course delivered by the Howard League.  Let us start by acknowledging Auckland Prison’s Deputy Prison Director Tom Sherlock, and Acting Assistant Regional Commissioner of Corrections Northern Region Scott Walker - ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Finance Minister to attend APEC meetings
    Finance Minister Grant Robertson leaves this weekend to attend the APEC Finance Ministers meeting in Santiago, Chile. Discussions between APEC Finance Ministers at the meeting will include the effects of the current global economic uncertainty, risks for APEC economies and sustainable development of the region. While at APEC Grant Robertson ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Pacific languages are a source of strength, they ground us and build confidence
    The Minister for Pacific Peoples Aupito William Sio says for Pacific people, language can be a source of strength. It can help ground us and give us confidence. When we speak them, our languages provide us with an immediate and intimate access to our identity and our story - and ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Major boost to support disabled people in sport and recreation
    The Coalition Government has announced an action plan to improve the wellbeing of disabled New Zealanders by addressing inequalities in play, active recreation and sport. The initiative includes training to develop a workforce that understands the needs of children and young people with a range of impairments, advocacy for fit ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • More prefab homes to be built as red tape cut
    The construction sector is being freed up to allow more homes to be built more quickly as the Government cuts through some of the red tape of the Building Act.  “Every New Zealander deserves a warm, dry, safe home and old inefficiencies in the Building Act make building slow and ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Further details of Prince of Wales and Duchess of Cornwall visit to New Zealand
    Prime Minister Jacinda Ardern has welcomed further details on the Prince of Wales and Duchess of Cornwall’s visit to New Zealand next month. Their Royal Highnesses will visit New Zealand from 17-23 November – their third joint visit to New Zealand and first in four years. They arrive in Auckland ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • O’Connor in Thailand to push for RCEP deal
    Minister of State for Trade and Export Growth and Minister of Agriculture, Damien O’Connor, heads to Thailand today to attend the final Regional Comprehensive Economic Partnership (RCEP) Ministerial meeting, as negotiations enter their final stages. “The RCEP Agreement would anchor New Zealand in a regional agreement that covers 16 countries, ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Young Pacific people can access earning and learning opportunities in Hawke’s Bay, Otago and South...
    Pacific young people living in the Hawke’s Bay, Southland and Otago regions will have access to support services that have proved successful in helping young people find new earning and learning opportunities. “Tupu Aotearoa is about changing Pacific young peoples’ lives. Our young people are talented, they are smart, they ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Protecting wellbeing – ACC HQSC Trauma Forum
    Introduction As the Minister for ACC I thank you all for the work that you do supporting New Zealanders in their literally most vulnerable moments. From those who hold people’s lives in their hands, to the people who research technique, technology and trends, your work is highly valued. A special ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • NZ economy in good shape – notes prepared for speeches in Christchurch
    Notes prepared for speeches in Christchurch – Wednesday 9 October 2019 Today’s topic, “trends and opportunities for the New Zealand economy,” is certainly one getting a great deal of commentary at the moment. Looking across the media landscape lately you’ll notice we aren’t the only ones having this discussion. There ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • World Mental Health Day a reminder of the importance of mental health work
    Minister of Health Dr David Clark and Associate Minister of Health Peeni Henare say this year’s World Mental Health Day theme is a reminder of why the Government’s work on mental health is so important. “This year the World Federation for Mental Health has made suicide prevention the main theme ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Cultural Ministers Meeting
    Associate Arts, Culture and Heritage Minister Carmel Sepuloni will represent the government at Australia’s Meeting of Cultural Ministers in Adelaide this week. “This year’s meeting is special because New Zealand is expected to become an International Member of the Meeting of Cultural Ministers at this Australian forum,” Carmel Sepuloni said. “The meeting is an opportunity to ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • 608 claims resolved by GCCRS in first year
    The Greater Christchurch Claims Resolution Service has resolved 608 insurance and EQC claims in its first year in operation, Minister Megan Woods has announced. The government service, which celebrates its first birthday today, provides a one stop shop to help Cantabrians still battling to get their homes repaired or rebuilt ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • NZ economy in good shape
    Today’s topic, “trends and opportunities for the New Zealand economy,” is certainly one getting a great deal of commentary at the moment. Looking across the media landscape lately you’ll notice we aren’t the only ones having this discussion. There has been an increasing amount of attention paid to the outlook ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • NZTA to refocus on safety following review
    The Government is acting swiftly to strengthen NZTA’s regulatory role following a review into the Transport Agency, and Ministry of Transport’s performance as its monitor, Transport Minister Phil Twyford said today. An independent review by Martin Jenkins has found NZTA failed to properly regulate the transport sector under the previous ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Joint Cooperation Statement on Climate Change between the Netherlands and New Zealand
    The Netherlands and New Zealand have a long-standing and close relationship based on many shared interests and values. We value the rule of law, our democracies, and multilateralism.  And we value our environment – at home and globally. Right now there are major global challenges in all of these areas – ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Government putting right Holidays Act underpayment in Health
    The Government is putting right a decade’s worth of underpayment to nurses, doctors and other health workers, says Health Minister Dr David Clark.  Initial sampling of District Health Boards payroll records has found that around $550-$650 million is owed to DHB staff to comply with the Holidays Act. It’s expected ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Government accounts show strong economy
    A strong surplus and low debt show the economy is performing well, and means the Government is in a good position to meet the challenges of global economic uncertainty. “The surplus and low levels of debt show the economy is in good shape. This allows the Government to spend more ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Ministers approve application to expand Waihi mine
    New applications from mining company OceanaGold to purchase land in Waihi for new tailings ponds associated with its gold mines have been approved. Minister of Finance Grant Robertson and Associate Minister of Finance David Parker considered the applications under the Overseas Investment Act. Earlier this year, applications from OceanaGold to ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Tuia 250 Voyage flotilla launches with tribute to tangata whenua
    New Zealanders in Tūranganui-a-Kiwa / Poverty Bay will witness Māori, Pākehā and Pacific voyaging traditions come together today as the Tuia 250 Voyage flotilla assembles for the first time, Māori Crown Relations: Te Arawhiti Minister Kelvin Davis says. “Tuia 250 is a national commemoration and an opportunity for honest conversations ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Visit to advance trade agenda with Europe and the Commonwealth
    Minister for Trade and Export Growth David Parker leaves tomorrow for Dubai, London and Berlin for a series of meetings to advance New Zealand’s trade interests.  In Dubai he will visit New Zealand’s Pavilion at Expo 2020 where construction is underway.  There he will meet Minister of State for International Cooperation, Her ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • More cancer drugs confirmed – even more on horizon
    Confirmation that PHARMAC will fund two new cancer drugs is further evidence of the good progress the Government is making to improve the treatment of New Zealand’s leading cause of death, Health Minister David Clark says. From 1 December PHARMAC will fund alectinib (Alecensa) for ALK positive advanced non-small cell ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Boost for women in high performance sport
    An additional $2.7 million has been announced for the Government Strategy for Women and Girls in Sport and Active Recreation on the first anniversary of the strategy’s launch. Sport and Recreation Minister Grant Robertson gave the opening address to the first Sport NZ Women + Girls Summit in Wellington today, ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Parent support to help retain skilled migrants
    As part of its work to ensure businesses can get the skilled workers they need, the Coalition Government is re-opening and re-setting the Parent Category visa programme, Immigration Minister Iain Lees-Galloway says. The move will: support skilled migrants who help fill New Zealand’s skills gaps by providing a pathway for ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Senior NZDF Officer to lead Peacekeeping Mission in the Sinai Peninsula, Egypt
    Minister of Defence Ron Mark has today announced Major General Evan Williams of the New Zealand Defence Force has been selected as the commander of a significant, longstanding peacekeeping mission in the Middle East. In December, Major General Williams takes over as Force Commander for the Multinational Force and Observers ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Nurses star as Govt rebuilds health workforces
    A record number of nurses are now working to deliver health services to New Zealanders as the Government’s increased funding and new initiatives rebuild key workforces start to show results, Health Minister Dr David Clark says. •    1458 more DHB nurses since the Government took office •    106 more midwives ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • New agricultural trade envoy appointed
    Farmer and former Nuffield scholar Mel Poulton has been appointed New Zealand’s Special Agricultural Trade Envoy, Minister for Trade and Export Growth, David Parker, and Minister of Agriculture, Damien O’Connor, announced today. The position supports key Government objectives, including raising the value of New Zealand agricultural goods and services. Mel is ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Pacific and Māori voyaging heritage celebrated for Tuia 250
    New Zealand’s Pacific and Māori voyaging heritage is acknowledged and celebrated today as waka of the Tuia 250 voyage flotilla arrive in Tūranga / Gisborne. “Today we celebrate Tangata Whenua, the first people of Aotearoa, and the triumphs of the voyaging tradition that brought our ancestors here from Polynesia 1000 ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Pacific languages are a root from which prosperity will grow
    “Fijian Language Week starts on Sunday and the theme reminds us how important it is that we each have something to anchor ourselves to, something that can help us pause and feel in control in a rapidly changing world,” says Minister for Pacific Peoples Aupito William Sio. “Family, culture, faith, ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • NZ Government establishes innovative, industry-focused Airspace Integration Trials Programme
    The Government is establishing an Airspace Integration Trials Programme to support the safe testing and development of advanced unmanned aircraft and accelerate their integration into the aviation system, Research, Science and Innovation Minister Megan Woods announced today. The Government will work with leading, innovative aviation industry partners to test and ...
    BeehiveBy beehive.govt.nz
    2 weeks ago