Nat-onomics: $30 million up in flames
Written By:
- Date published:
1:15 pm, April 17th, 2010 - 11 comments
Categories: dpf, national, spin, superannuation -
Tags: cullen fund, vernon small
Vernon Small calculates that if the Cullen Fund had continued getting its monthly contributions, rather than just the one-off $250 million the government gave in July, we would be $30 million better off by now. That’s even more than the $24 million I calculate, but I’m only using figures up to December (the most rent ones used to be on the Cullen Fund website but they’ve disappeared).
Predictably, the financially illiterate Key apologists are having a cry about being shown to have stuffed this one up so badly. Take National Party pollster David Farrar:
“The taxpayer may have been able to make a gain of $30 million if it had borrowed more money, for the fund to invest. That is certainly true, but it is a potential gain only.”
Yeah, in the same way that failing to put money in your personal savings account is only giving up a ‘potential’ gain in interest or applying the brakes when you had the chance could ‘potentially’ avoid a crash. It still counts. Or maybe in Farrar’s world there’s no consequences of not doing something.
“You can not automatically assume that any additional investments would have achieved the same return as the existing investments. An extra $2 billion may have been invested in a stock that did not do so well, or may have meant a higher average price for buying such stock.”
Nor can you automatically assume that it wold have done worse like Farrar does. The best guide to the additional return the Cullen Fund could have earned is the return it made on the money it did have.
“It is fair enough to talk about a potential gain or that was missed, but that is not the same thing as stating that potential gain as a loss let alone a cost. That is a sloppy short cut.”
No. Take this example: ‘not putting $1,000 in my savings account and spending it on sherbet instead cost me $50 in interest’. Now, upscale: ‘not putting $150 million a month into our collective savings and, instead, giving tax cuts to the rich has cost us $30 million in returns so far’
“One could borrow $10 billion a year to invest in stocks, and probably get a good return on them. But it would also be risky.”
Strawman. No-one’s talking about mortgaging the house to go gambling. We’re talking about continuing to put money into our retirement savings even though we also owe money on a lower-interest loan.
“What we don’t know if whether or not we would have got a credit downgrade, if the Government decided to continue to borrow money to invest. And if we had, then that would have had a very real cost on every New Zealander.”
If we had made this investment, it would have lowered or net debt. You don’t get credit downgrades for lowering your net debt. And our gross debt was never out of control. Indeed, National still thought it had enough money to cut taxes for the rich.
“It is also worth noting that over the entire life of the fund, the rate of return is still below the risk free rate of return. The NZ economy would be hundreds of millions of dollars better off if the fund had never been set up, and the money used to repay debt.”
Over its life, the return on the Cullen Fund has been slightly less (0.06%) than the cost of borrowing. That’s $9.5 million – not ‘hundreds of millions’ (remember, people pay this guy to do polling) – and an amount that would have been wiped off by now if the contributions to the Fund had continued. But, hmm, what caused the Fund’s value to drop after stellar gains in its first few years? Oh yeah, the largest recession in 50 years happened.
Yeah, the value of the Fund’s holdings went down then but, guess what?, it got to buy up a whole lot of assets at once in a lifetime prices and since the March of last year (that’s right before last year’s Budget) it’s been turning profits. Between March and December last year it made a 31.7% return compared to a cost of borrowing of 2.3%.
Yesterday, I joked about the only people who couldn’t work out that canceling contributions to the Cullen fund when National did was a mistake were those who mindlessly buy National’s spin and those who need to take off their socks to count past ten. I missed a group, Farrar’s ravings suggest that National’s spinsters believe their own spin. Sad, really.
11 comments on “Nat-onomics: $30 million up in flames ”
- Comments are now closed
Links to post
- Comments are now closed
Recent Comments
- Bernard's six-stack of substacks at 6:26 pm
Tonight’s six-stack includes: launching his substack with a bunch of his previous documentaries, including this 1992 interview with Dame Whina Cooper. and here crew give climate activists plenty to do, including this call to submit against the Fast Track Approvals bill. writes brilliantly here on his substack ...3 hours ago - At a glance – Is the science settled?
On February 14, 2023 we announced our Rebuttal Update Project. This included an ask for feedback about the added "At a glance" section in the updated basic rebuttal versions. This weekly blog post series highlights this new section of one of the updated basic rebuttal versions and serves as a ...3 hours ago - Apposite Quotations.
5 hours ago - What’s a life worth now?
You're in the mall when you hear it: some kind of popping sound in the distance, kids with fireworks, maybe. But then a moment of eerie stillness is followed by more of the fireworks sound and there’s also screaming and shrieking and now here come people running for their lives.Does ...5 hours ago - Howling at the Moon
Karl du Fresne writes – There’s a crisis in the news media and the media are blaming it on everyone except themselves. Culpability is being deflected elsewhere – mainly to the hapless Minister of Communications, Melissa Lee, and the big social media platforms that are accused of hoovering ...6 hours ago - Newshub is Dead.
I don’t normally send out two newsletters in a day but I figured I’d say something about… the news. If two newsletters is a bit much then maybe just skip one, I don’t want to overload people. Alternatively if you’d be interested in sometimes receiving multiple, smaller updates from me, ...6 hours ago - Seymour is chuffed about cutting early-learning red tape – but we hear, too, that Jones has loose...
Buzz from the Beehive David Seymour and Winston Peters today signalled that at least two ministers of the Crown might be in Wellington today. Seymour (as Associate Minister of Education) announced the removal of more red tape, this time to make it easier for new early learning services to be ...7 hours ago - Bryce Edwards: Will politicians let democracy die in the darkness?
Politicians across the political spectrum are implicated in the New Zealand media’s failing health. Either through neglect or incompetent interventions, successive governments have failed to regulate, foster, and allow a healthy Fourth Estate that can adequately hold politicians and the powerful to account. Our political system is suffering from the ...8 hours ago - Was Hawkesby entirely wrong?David Farrar writes – The Broadcasting Standards Authority ruled: Comments by radio host Kate Hawkesby suggesting Māori and Pacific patients were being prioritised for surgery due to their ethnicity were misleading and discriminatory, the Broadcasting Standards Authority has found. It is a fact such patients are prioritised. ...9 hours ago
- PRC shadow looms as the Solomons head for electionPRC and its proxies in Solomons have been preparing for these elections for a long time. A lot of money, effort and intelligence have gone into ensuring an outcome that won’t compromise Beijing’s plans. Cleo Paskall writes – On April 17th the Solomon Islands, a country of ...9 hours ago
- Climate Change: Criminal ecocide
We are in the middle of a climate crisis. Last year was (again) the hottest year on record. NOAA has just announced another global coral bleaching event. Floods are threatening UK food security. So naturally, Shane Jones wants to make it easier to mine coal: Resources Minister Shane Jones ...10 hours ago - Is saving one minute of a politician's time worth nearly $1 billion?
Is speeding up the trip to and from Wellington airport by 12 minutes worth spending up more than $10 billion? Photo: Lynn Grieveson / The KākāTL;DR: The six news items that stood out to me in the last day to 8:26 am today are:The Lead: Transport Minister Simeon Brown announced ...11 hours ago - Long Tunnel or Long Con?
Yesterday it was revealed that Transport Minister had asked Waka Kotahi to look at the options for a long tunnel through Wellington. State Highway 1 (SH1) through Wellington City is heavily congested at peak times and while planning continues on the duplicate Mt Victoria Tunnel and Basin Reserve project, the ...13 hours ago - Smoke And Mirrors.
You're a fraud, and you know itBut it's too good to throw it all awayAnyone would do the sameYou've got 'em goingAnd you're careful not to show itSometimes you even fool yourself a bitIt's like magicBut it's always been a smoke and mirrors gameAnyone would do the sameForty six billion ...14 hours ago - What is Mexico doing about climate change?This is a re-post from Yale Climate Connections The June general election in Mexico could mark a turning point in ensuring that the country’s climate policies better reflect the desire of its citizens to address the climate crisis, with both leading presidential candidates expressing support for renewable energy. Mexico is the ...17 hours ago
- State of humanity, 2024
2024, it feels, keeps presenting us with ever more challenges, ever more dismay.Do you give up yet? It seems to ask.No? How about this? Or this?How about this?When I say 2024 I really mean the state of humanity in 2024.Saturday night, we watched Civil War because that is one terrifying cliff we've ...1 day ago - Govt’s Wellington tunnel vision aims to ease the way to the airport (but zealous promoters of cycl...Buzz from the Beehive A pet project and governmental tunnel vision jump out from the latest batch of ministerial announcements. The government is keen to assure us of its concern for the wellbeing of our pets. It will be introducing pet bonds in a change to the Residential Tenancies Act ...1 day ago
- The case for cultural connectednessA recent report generated from a Growing Up in New Zealand (GUiNZ) survey of 1,224 rangatahi Māori aged 11-12 found: Cultural connectedness was associated with fewer depression symptoms, anxiety symptoms and better quality of life. That sounds cut and dry. But further into the report the following appears: Cultural connectedness is ...1 day ago
- Useful context on public sector job cutsDavid Farrar writes – The Herald reports: From the gory details of job-cuts news, you’d think the public service was being eviscerated. While the media’s view of the cuts is incomplete, it’s also true that departments have been leaking the particulars faster than a Wellington ...1 day ago
- Gordon Campbell On When Racism Comes Disguised As Anti-racism
Remember the good old days, back when New Zealand had a PM who could think and speak calmly and intelligently in whole sentences without blustering? Even while Iran’s drones and missiles were still being launched, Helen Clark was live on TVNZ expertly summing up the latest crisis in the Middle ...1 day ago - Govt ignored economic analysis of smokefree reversal2 days ago
- True Blue.
True loveYou're the one I'm dreaming ofYour heart fits me like a gloveAnd I'm gonna be true blueBaby, I love youI’ve written about the job cuts in our news media last week. The impact on individuals, and the loss to Aotearoa of voices covering our news from different angles.That by ...2 days ago - Who is running New Zealand’s foreign policy?While commentators, including former Prime Minister Helen Clark, are noting a subtle shift in New Zealand’s foreign policy, which now places more emphasis on the United States, many have missed a key element of the shift. What National said before the election is not what the government is doing now. ...2 days ago
- 2024 SkS Weekly Climate Change & Global Warming News Roundup #15A listing of 31 news and opinion articles we found interesting and shared on social media during the past week: Sun, April 7, 2024 thru Sat, April 13, 2024. Story of the week Our story of the week is about adults in the room setting terms and conditions of ...2 days ago
- Feline Friends and Fragile Fauna The Complexities of Cats in New Zealand’s Conservation Efforts
Cats, with their independent spirit and beguiling purrs, have captured the hearts of humans for millennia. In New Zealand, felines are no exception, boasting the highest national cat ownership rate globally [definition cat nz cat foundation]. An estimated 1.134 million pet cats grace Kiwi households, compared to 683,000 dogs ...
2 days ago - Or is that just they want us to think?
Nice guy, that Peter Williams. Amiable, a calm air of no-nonsense capability, a winning smile. Everything you look for in a TV presenter and newsreader.I used to see him sometimes when I went to TVNZ to be a talking head or a panellist and we would yarn. Nice guy, that ...3 days ago - Fact Brief – Did global warming stop in 1998?Skeptical Science is partnering with Gigafact to produce fact briefs — bite-sized fact checks of trending claims. This fact brief was written by Sue Bin Park in collaboration with members from our Skeptical Science team. You can submit claims you think need checking via the tipline. Did global warming stop in ...3 days ago
- Arguing over a moot point.
I have been following recent debates in the corporate and social media about whether it is a good idea for NZ to join what is known as “AUKUS Pillar Two.” AUKUS is the Australian-UK-US nuclear submarine building agreement in which … Continue reading ...3 days ago - No Longer Trusted: Ageing Boomers, Laurie & Les, Talk Politics.3 days ago
- Mortgage rates at 10% anyone?
No – nothing about that in PM Luxon’s nine-point plan to improve the lives of New Zealanders. But beyond our shores Jamie Dimon, the long-serving head of global bank J.P. Morgan Chase, reckons that the chances of a goldilocks soft landing for the economy are “a lot lower” than the ...3 days ago - Sad tales from the leftMichael Bassett writes – Have you noticed the odd way in which the media are handling the government’s crackdown on surplus employees in the Public Service? Very few reporters mention the crazy way in which State Service numbers rocketed ahead by more than 16,000 during Labour’s six years, ...3 days ago
- In Whose Best Interests?On The Spot: The question Q+A host, Jack Tame, put to the Workplace & Safety Minister, Act’s Brooke van Velden, was disarmingly simple: “Are income tax cuts right now in the best interests of lowering inflation?”JACK TAME has tested another MP on his Sunday morning current affairs show, Q+A. Minister for Workplace ...3 days ago
- Don’t Question, Don’t Complain.
It has to start somewhereIt has to start sometimeWhat better place than here?What better time than now?So it turns out that I owe you all an apology.It seems that all of the terrible things this government is doing, impacting the lives of many, aren’t necessarily ‘bad’ per se. Those things ...3 days ago - Auckland faces 25% water inflation shock
Three Waters became a focus of anti-Government protests under Labour, but its dumping by the new Government hasn’t solved councils’ funding problems and will eventually hit the back pockets of everyone. Photo: Lynn Grieveson/Getty ImagesTL;DR: The six news items that stood out to me at 8:06 am today are:The Government ...4 days ago - Small accomplishments and large ironies
4 days ago - The Song of Saqua: Volume VII
In order to catch up to the actual progress of the D&D campaign, I present you with another couple of sessions. These were actually held back to back, on a Monday and Tuesday evening. Session XV Alas, Goatslayer had another lycanthropic transformation… though this time, he ran off into the ...4 days ago - Accelerating the Growth Rate?
There is a constant theme from the economic commentariat that New Zealand needs to lift its economic growth rate, coupled with policies which they are certain will attain that objective. Their prescriptions are usually characterised by two features. First, they tend to be in their advocate’s self-interest. Second, they are ...4 days ago - The only thing we have to fear is tenants themselves
1. Which of these acronyms describes the experience of travelling on a Cook Strait ferry?a. ROROb. FOMOc. RAROd. FMLAramoana, first boat ever boarded by More Than A Feilding, four weeks after the Wahine disaster2. What is the acronym for the experience of watching the government risking a $200 million break ...4 days ago - Peters talks of NZ “renewing its connections with the world” – but who knew we had been discon...Buzz from the Beehive The thrust of the country’s foreign affairs policy and its relationship with the United States have been addressed in four statements from the Beehive over the past 24 hours. Foreign Affairs Minister Winston Peters somewhat curiously spoke of New Zealand “renewing its connections with a world ...4 days ago
- Muldoonism, solar farms, and legitimacyNewsHub had an article yesterday about progress on Aotearoa's largest solar farm, at "The Point" in the Mackenzie Country. 420MW, right next to a grid connection and transmission infrastructure, and next to dams - meaning it can work in tandem with them to maximise water storage. Its exactly the sort ...4 days ago
- NZTA does not know how much it spends on conesBarrie Saunders writes – Astonishing as it may seem NZTA does not know either how much it spends on road cones as part of its Temporary Traffic Management system, or even how many companies it uses to supply and manage the cones. See my Official Information Act request ...4 days ago
- If this is Back on Track – let's not.
I used to want to plant bombs at the Last Night of the PromsBut now you'll find me with the baby, in the bathroom,With that big shell, listening for the sound of the sea,The baby and meI stayed in bed, alone, uncertainThen I met you, you drew the curtainThe sun ...4 days ago - Welfare: Just two timid targets from the National governmentLindsay Mitchell writes – The National Government has announced just two targets for the Ministry of Social Development. They are: – to reduce the number of people receiving Jobseeker Support by 50,000 to 140,000 by June 2029, and – (alongside HUD) to reduce the number of households in emergency ...4 days ago
- The Hoon around the week to April 12Photo: Lynn Grieveson / The KākāTL;DR: The podcast above features co-hosts Bernard Hickey and Peter Bale, along with regular guests Robert Patman on Gaza and AUKUS II, Merja Myllylahti on AUT’s trust in news report, Awhi’s Holly Bennett on a watered-down voluntary code for lobbyists, plus special guest Patrick Gower ...5 days ago
- A Dead Internet?
Hi,Four years ago I wrote about a train engineer who derailed his train near the port in Los Angeles.He was attempting to slam thousands of tonnes of screaming metal into a docked Navy hospital ship, because he thought it was involved in some shady government conspiracy theory. He thought it ...5 days ago - Weekly Roundup 12-April-2024Welcome back to another Friday. Here’s some articles that caught our attention this week. This Week in Greater Auckland On Wednesday Matt looked at the latest with the Airport to Botany project. On Thursday Matt covered the revelation that Auckland Transport have to subsidise towing illegally parked cars. ...5 days ago
- Weekly Roundup 12-April-2024Welcome back to another Friday. Here’s some articles that caught our attention this week. This Week in Greater Auckland On Wednesday Matt looked at the latest with the Airport to Botany project. On Thursday Matt covered the revelation that Auckland Transport have to subsidise towing illegally parked cars. ...5 days ago
- Antarctic heat spike shocks climate scientistsA ‘Regime Shift’ could raise sea levels sooner than anticipated. Has a tipping point been triggered in the Antarctic? Photo: Juan Barreto/Getty Images TL;DR: Here’s the top six news items of note in climate news for Aotearoa-NZ this week, and a discussion above that was recorded yesterday afternoon between and ...5 days ago
- Skeptical Science New Research for Week #15 2024Open access notables Global carbon emissions in 2023, Liu et al., Nature Reviews Earth & Environment Annual global CO2 emissions dropped markedly in 2020 owing to the COVID-19 pandemic, decreasing by 5.8% relative to 2019 (ref. 1). There were hopes that green economic stimulus packages during the COVD crisis might mark the beginning ...5 days ago
- Everything will be just fine
In our earlier days of national self-loathing, we made a special place for the attitude derided as she’ll be right.You don't hear many people younger than age Boomer using that particular expression these days. But that doesn’t mean there are not younger people in possession of such an attitude.The likes of ...5 days ago - Farmers and landlords are given news intended to lift their confidence – but the media must muse o...Buzz from the Beehive People working in the beleaguered media industry have cause to yearn for a minister as busy as Todd McClay and his associates have been in recent days. But if they check out the Beehive website for a list of Melissa Lee’s announcements, pronouncements, speeches and what-have-you ...5 days ago
- National’s war on rentersWhen the National government came into office, it complained of a "war on landlords". It's response? Start a war on renters instead: The changes include re-introducing 90-day "no cause" terminations for periodic tenancies, meaning landlords can end a periodic tenancy without giving any reason. [...] Landlords will now only ...5 days ago
- DrawnA ballot for two Member's Bills was held today, and the following bills were drawn: Repeal of Good Friday and Easter Sunday as Restricted Trading Days (Shop Trading and Sale of Alcohol) Amendment Bill (Cameron Luxton) Consumer Guarantees (Right to Repair) Amendment Bill (Marama Davidson) The ...5 days ago
- At last some scienceEle Ludemann writes – Is getting rid of plastic really good for the environment? Substituting plastics with alternative materials is likely to result in increased GHG emissions, according to research from the University of Sheffield. The study by Dr. Fanran Meng from Sheffield’s Department of Chemical and Biological Engineering, ...5 days ago
- Something important: the curious death of the School Strike 4 Climate MovementThe Christchurch Mosque Massacres, Covid-19, deep political disillusionment, and the jealous cruelty of the intersectionists: all had a part to play in causing School Strike 4 Climate’s bright bubble of hope and passion to burst. But, while it floated above us, it was something that mattered. Something Important. ...5 days ago
- The day the TV media died…Peter Dunne writes – April 10 is a dramatic day in New Zealand’s history. On April 10, 1919, the preliminary results of a referendum showed that New Zealanders had narrowly voted for prohibition by a majority of around 13,000 votes. However, when the votes of soldiers still overseas ...5 days ago
- What's the point in Melissa Lee?
While making coffee this morning I listened to Paddy Gower from Newshub being interviewed on RNZ. It was painful listening. His hurt and love for that organisation, its closure confirmed yesterday, quite evident.As we do when something really matters, he hasn’t giving up hope. Paddy talked about the taonga that ...5 days ago - Bernard's Top 10 'pick 'n' mix' at 10:10 am on Thursday, April 11
TL;DR: Here’s the 10 news and other links elsewhere that stood out for me over the last day, as at 10:10 am on Wednesday, April 10:Photo by Iva Rajović on UnsplashMust-read: As more than half of the nation’s investigative journalists are sacked, Newsroom’s Tim Murphy shows what it takes to ...5 days ago - Gordon Campbell On Winston Peters’ Pathetic Speech At The UNGood grief, Winston Peters. Tens of thousands of Gazans have been slaughtered, two million are on the brink of starvation and what does our Foreign Minister choose to talk about at the UN? The 75 year old issue of whether the five permanent members should continue to have veto powers ...6 days ago
- Subsidising illegal parkingHopefully finally over his obsession with raised crossings, the Herald’s Bernard Orsman has found something to actually be outraged at. Auckland ratepayers are subsidising the cost of towing, storing and releasing cars across the city to the tune of $15 million over five years. Under a quirk in the law, ...6 days ago
- When 'going for growth' actually means saying no to new social homesTL;DR: These six things stood out to me over the last day in Aotearoa-NZ’s political economy, as of 7:06 am on Thursday, April 11:The Government has refused a community housing provider’s plea for funding to help build 42 apartments in Hamilton because it said a $100 million fund was used ...6 days ago
- https://www.politik.co.nz/?p=12733As the public sector redundancies rolled on, with the Department of Conservation saying yesterday it was cutting 130 positions, a Select Committee got an insight into the complexities and challenges of cutting the Government’s workforce. Immigration New Zealand chiefs along with their Minister, Erica Stanford, appeared before Parliament’s Education and ...6 days ago
- Bernard's six-stack of substacks at 6:06 pm on Wednesday, April 10
TL;DR: Six substacks that stood out to me in the last day:Explaining is winning for journalists wanting to regain trust, writes is his excellent substack. from highlights Aotearoa-NZ’s greenwashing problem in this weekly substack. writes about salt via his substack titled: The Second Soul, Part I ...6 days ago - EGU2024 – Picking and chosing sessions to attend virtuallyThis year's General Assembly of the European Geosciences Union (EGU) will take place as a fully hybrid conference in both Vienna and online from April 15 to 19. I decided to join the event virtually this year for the full week and I've already picked several sessions I plan to ...6 days ago
- But here's my point about the large irony in what Luxon is saying
Grim old week in the media business, eh? And it’s only Wednesday, to rework an old upbeat line of poor old Neil Roberts.One of the larger dark ironies of it all has been the line the Prime Minister is serving up to anyone asking him about the sorry state of ...6 days ago - Govt gives farmers something to talk about (regarding environmental issues) at those woolshed meetin...Buzz from the Beehive Hard on the heels of three rurally oriented ministers launching the first of their woolshed meetings, the government brought good news to farmers on the environmental front. First, Agriculture Minister Todd McClay announced an additional $18 million is being committed to reduce agricultural emissions. Not all ...6 days ago
- Climate change violates human rightsThat's the ruling of the European Court of Human Rights today: Weak government climate policies violate fundamental human rights, the European court of human rights has ruled. In a landmark decision on one of three major climate cases, the first such rulings by an international court, the ECHR raised ...6 days ago
- Which govt departments have grown the most?David Farrar writes – There has been a 34% increase over six years in the size of the public service, in terms of EFTS. But not all agencies have grown by the same proportion. Here are the 10 with the largest relative increases between 2017 and ...6 days ago
- What’s to blame for the public’s plummeting trust in the media?Bryce Edwards writes – The media is in crisis, as New Zealand audiences flee from traditional sources of news and information. The latest survey results on the public’s attitude to the media shows plummeting trust. And New Zealand now leads the world in terms of those who want ...6 days ago
- Something Important: The Curious Death of the School Strike 4 Climate Movement.The Hope That Failed: The Christchurch Mosque Massacres, Covid-19, deep political disillusionment, and the jealous cruelty of the intersectionists: all had a part to play in causing School Strike 4 Climate’s bright bubble of hope and passion to burst. But, while it floated above us, it was something that mattered. Something ...6 days ago
- Cow Farts and Cancer Sticks.
What do you do if you’re a new government minister and the science is in. All of the evidence and facts are clear, but they’re not to your liking? They’re inconsistent with your policy positions and/or your spending priorities.Well, first off you could just stand back and watch as the ...6 days ago - Member’s DayToday is a Member's day. First up is James Shaw's New Zealand Bill of Rights (Right to Sustainable Environment) Amendment Bill, which does exactly what it says on the label. Despite solid backing in international law and from lawyers and NGOs, National will likely vote it down out of pure ...6 days ago
- Bernard's Top 10 'pick 'n' mix' at 10:10 am on Wednesday, April 10
6 days ago - What’s happening with Airport to BotanyOne of the few public transport projects the current government have said they support is the Airport to Botany project (A2B) and it’s one we haven’t covered in a while so worth looking at where things are at. A business case for the project was completed in 2021 before being ...7 days ago
- Bishop more popular than Luxon in Curia pollCount the Chrises: Chris Bishop (2nd from right) is moving up in the popularity polls. Photo: Lynn Grieveson / The KākāTL;DR: These six things stood out to me over the last day in Aotearoa-NZ’s political economy, as of 7:06 am on Wednesday, April 10:The National/ACT/NZ First coalition Government’s opinion poll ...7 days ago
- Release: Quick, submit – stop Govt’s dodgy approvals bill
The Government is trying to bring in a law that will allow Ministers to cut corners and kill off native species, Labour environment spokesperson Rachel Brooking said. ...8 hours ago - Government throws coal on the climate crisis fire
The Government’s policy announced today to ease consenting for coal mining will have a lasting impact across generations. ...9 hours ago - Release: Public transport costs to double as National looks at unaffordable roading project insteadCancelling urgently needed new Cook Strait ferries and hiking the cost of public transport for many Kiwis so that National can announce the prospect of another tunnel for Wellington is not making good choices, Labour Transport Spokesperson Tangi Utikere said. ...1 day ago
- Release: Cost of living in Auckland still not a priorityA laundry list of additional costs for Tāmaki Makarau Auckland shows the Minister for the city is not delivering for the people who live there, says Labour Auckland Issues spokesperson Shanan Halbert. ...1 day ago
- Greens look to fast-track submissions on harmful lawThe Green Party has today launched a step-by-step guide to help New Zealanders make their voice heard on the Government’s democracy dodging and anti-environment fast track legislation. ...4 days ago
- Release: Govt should stop making people’s lives harder and build more homesThe National Government’s proposed changes to the Residential Tenancies Act will mean tenants can be turfed from their homes by landlords with little notice, Labour housing spokesperson Kieran McAnulty said. ...5 days ago
- Release: Melissa Lee missing in action on mediaThe action Melissa Lee promised to protect democracy and the media sector is missing, Media and Communications spokesperson Willie Jackson said. ...5 days ago
- Landlord Government leaves little hope for rentersThe Government’s announcement on tenancy rules prove that it does not care about renters. ...5 days ago
- Opportunity to build a more sustainable economyGreen Party co-leader Marama Davidson is calling on all parties to support a common-sense change that’s great for the planet and great for consumers after her member’s bill was drawn from the ballot today. ...5 days ago
- Significant step forward in fixing cruel and unjust pastA significant milestone has been reached in the fight to strike an anti-Pasifika and unfair law from the country’s books after Teanau Tuiono’s members’ bill passed its first reading. ...6 days ago
- Missed opportunity but NZ will surely one day recognise the right to a sustainable environmentNew Zealand has today missed the opportunity to uphold the right to a clean, healthy, and sustainable environment, says James Shaw after his member’s bill was voted down in its first reading. ...6 days ago
- Release: Don’t cut our lunches – clear message sent to GovernmentTens of thousands of people are demanding the Government commits to fully funding free and healthy school lunches. ...6 days ago
- Release: Govt makes U-turn on Suicide Prevention OfficeLabour welcomes the Government’s U-turn on the closure of the Suicide Prevention Office, says Labour Mental Health spokesperson Ingrid Leary. ...1 week ago
- CCC issues warning over further climate delayToday’s advice from the Climate Change Commission paints a sobering reality of the challenge we face in combating climate change, especially in light of recent Government policy announcements. ...1 week ago
- Luxon targets lame and lousy example of leadershipIf talk is cheap, Chris Luxon’s “targets” are bankrupt. ...1 week ago
- Luxon targets are lousy example of leadershipIf talk is cheap, Chris Luxon’s “targets” are bankrupt. ...1 week ago
- Release: Commitment to disability communities missing from Govt prioritiesMinister for Disability Issues Penny Simmonds appears to have delayed a report back to Cabinet on the progress New Zealand is making against international obligations for disabled New Zealanders. ...1 week ago
- Methane target review is dangerous duplicationThe Government’s newly announced review of methane emissions reduction targets hints at its desire to delay Aotearoa New Zealand’s urgent transition to a climate safe future, the Green Party said. ...1 week ago
- Release: Government must commit to school building project for disabled studentsThe Government must commit to the Maitai School building project for students with high and complex needs, to ensure disabled students from the top of the South Island have somewhere to learn. ...2 weeks ago
- Release: National must take mental health seriouslyMental Health Minister Matt Doocey and his Government colleagues have made a meal of their mental health commitments, showing how flimsy their efforts to champion the issue truly are, says Labour Mental Health spokesperson Ingrid Leary. ...2 weeks ago
- Referendums for Māori wards a racist step backwardsThe Government's imposed referendum on Māori wards is a racist step backwards for Māori representation, and disregards Te Tiriti o Waitangi. ...2 weeks ago
- Release: Job losses at Health not worth it for tax cutsNew Zealand will feel the harm of the National Government’s reckless cuts to jobs at the health ministry for generations, says Ayesha Verrall. ...2 weeks ago
- Press release: No Māori initiatives in Government’s nothing planMāori are yet to see anything from this Government except cuts, reversals and taking our people backwards, Māori Development spokesperson Willie Jackson said. ...2 weeks ago
- Thirty six point PR spinThe Government’s ‘36 point’ plan for the next three months is as pointless as it is hollow. ...2 weeks ago
- Thirty six point PR spinThe Government’s ‘36 point’ plan for the next three months is as pointless as it is hollow. ...2 weeks ago
- Thirty six point PR spinThe Government’s ‘36 point’ plan for the next three months is as pointless as it is hollow. ...2 weeks ago
- Release: Social housing off Government’s to-do listThe Coalition Government’s refusal to commit to ongoing funding for social housing is seeing the sector pull back on developments and families watch their dreams of securing a home fade away, says Labour Housing spokesperson Kieran McAnulty. ...2 weeks ago
- Release: Less money in most people’s pockets this AprilChanges to minimum wage and benefit indexation means many New Zealanders will get less this year, as the Government gives a big tax break to landlords instead. ...2 weeks ago
- Release: Simeon Brown shortchanges AucklandersThe Coalition Government’s plan to ‘get Auckland moving’ is a cuts cover-up that will ultimately cost Aucklanders more to move around the city, says Labour Auckland Issues spokesperson Shanan Halbert. ...3 weeks ago
- MPP cuts unforgivableSlashing the Ministry of Pacific Peoples by 40% will have a devastating impact on pacific communities and further highlights how little this government cares about anything other than cutting taxes for the wealthiest few. ...3 weeks ago
- Release: Time to call time on greyhound racingThe Labour Party is calling on the Government to ban greyhound racing. ...3 weeks ago
- Patterson promoting NZ’s wool sector at International Congress
Associate Agriculture Minister Mark Patterson is speaking at the International Wool Textile Organisation Congress in Adelaide, promoting New Zealand wool, and outlining the coalition Government’s support for the revitalisation the sector. "New Zealand’s wool exports reached $400 million in the year to 30 June 2023, and the coalition Government ...9 hours ago - Removing red tape to help early learners thriveThe Government is making legislative changes to make it easier for new early learning services to be established, and for existing services to operate, Associate Education Minister David Seymour says. The changes involve repealing the network approval provisions that apply when someone wants to establish a new early learning service, ...12 hours ago
- McClay reaffirms strong NZ-China trade relationshipTrade, Agriculture and Forestry Minister Todd McClay has concluded productive discussions with ministerial counterparts in Beijing today, in support of the New Zealand-China trade and economic relationship. “My meeting with Commerce Minister Wang Wentao reaffirmed the complementary nature of the bilateral trade relationship, with our Free Trade Agreement at its ...19 hours ago
- Prime Minister Luxon acknowledges legacy of Singapore Prime Minister LeePrime Minister Christopher Luxon today paid tribute to Singapore’s outgoing Prime Minister Lee Hsien Loong. Meeting in Singapore today immediately before Prime Minister Lee announced he was stepping down, Prime Minister Luxon warmly acknowledged his counterpart’s almost twenty years as leader, and the enduring legacy he has left for Singapore and South East ...1 day ago
- PMs Luxon and Lee deepen Singapore-NZ tiesPrime Minister Christopher Luxon held a bilateral meeting today with Singapore Prime Minister Lee Hsien Loong. While in Singapore as part of his visit to South East Asia this week, Prime Minister Luxon also met with Singapore President Tharman Shanmugaratnam and will meet with Deputy Prime Minister Lawrence Wong. During today’s meeting, Prime Minister Luxon ...1 day ago
- Antarctica New Zealand Board appointmentsForeign Minister Winston Peters has made further appointments to the Board of Antarctica New Zealand as part of a continued effort to ensure the Scott Base Redevelopment project is delivered in a cost-effective and efficient manner. The Minister has appointed Neville Harris as a new member of the Board. Mr ...1 day ago
- Finance Minister travels to Washington DCFinance Minister Nicola Willis will travel to the United States on Tuesday to attend a meeting of the Five Finance Ministers group, with counterparts from Australia, the United States, Canada, and the United Kingdom. “I am looking forward to meeting with our Five Finance partners on how we can work ...1 day ago
- Pet bonds a win/win for renters and landlordsThe coalition Government has today announced purrfect and pawsitive changes to the Residential Tenancies Act to give tenants with pets greater choice when looking for a rental property, says Housing Minister Chris Bishop. “Pets are important members of many Kiwi families. It’s estimated that around 64 per cent of New ...1 day ago
- Long Tunnel for SH1 Wellington being consideredState Highway 1 (SH1) through Wellington City is heavily congested at peak times and while planning continues on the duplicate Mt Victoria Tunnel and Basin Reserve project, the Government has also asked NZ Transport Agency (NZTA) to consider and provide advice on a Long Tunnel option, Transport Minister Simeon Brown ...2 days ago
- New Zealand condemns Iranian strikesPrime Minister Christopher Luxon and Foreign Minister Winston Peters have condemned Iran’s shocking and illegal strikes against Israel. “These attacks are a major challenge to peace and stability in a region already under enormous pressure," Mr Luxon says. "We are deeply concerned that miscalculation on any side could ...2 days ago
- Huge interest in Government’s infrastructure plansHundreds of people in little over a week have turned out in Northland to hear Regional Development Minister Shane Jones speak about plans for boosting the regional economy through infrastructure. About 200 people from the infrastructure and associated sectors attended an event headlined by Mr Jones in Whangarei today. Last ...4 days ago
- Health Minister thanks outgoing Health New Zealand ChairHealth Minister Dr Shane Reti has today thanked outgoing Health New Zealand – Te Whatu Ora Chair Dame Karen Poutasi for her service on the Board. “Dame Karen tendered her resignation as Chair and as a member of the Board today,” says Dr Reti. “I have asked her to ...4 days ago
- Roads of National Significance planning underwayThe NZ Transport Agency (NZTA) has signalled their proposed delivery approach for the Government’s 15 Roads of National Significance (RoNS), with the release of the State Highway Investment Proposal (SHIP) today, Transport Minister Simeon Brown says. “Boosting economic growth and productivity is a key part of the Government’s plan to ...4 days ago
- Navigating an unstable global environmentNew Zealand is renewing its connections with a world facing urgent challenges by pursuing an active, energetic foreign policy, Foreign Minister Winston Peters says. “Our country faces the most unstable global environment in decades,” Mr Peters says at the conclusion of two weeks of engagements in Egypt, Europe and the United States. “We cannot afford to sit back in splendid ...4 days ago
- NZ welcomes Australian Governor-GeneralPrime Minister Christopher Luxon has announced the Australian Governor-General, His Excellency General The Honourable David Hurley and his wife Her Excellency Mrs Linda Hurley, will make a State visit to New Zealand from Tuesday 16 April to Thursday 18 April. The visit reciprocates the State visit of former Governor-General Dame Patsy Reddy ...4 days ago
- Pseudoephedrine back on shelves for WinterAssociate Health Minister David Seymour has announced that Medsafe has approved 11 cold and flu medicines containing pseudoephedrine. Pharmaceutical suppliers have indicated they may be able to supply the first products in June. “This is much earlier than the original expectation of medicines being available by 2025. The Government recognised ...4 days ago
- NZ and the US: an ever closer partnershipNew Zealand and the United States have recommitted to their strategic partnership in Washington DC today, pledging to work ever more closely together in support of shared values and interests, Foreign Minister Winston Peters says. “The strategic environment that New Zealand and the United States face is considerably more ...5 days ago
- Joint US and NZ declarationApril 11, 2024 Joint Declaration by United States Secretary of State the Honorable Antony J. Blinken and New Zealand Minister of Foreign Affairs the Right Honourable Winston Peters We met today in Washington, D.C. to recommit to the historic partnership between our two countries and the principles that underpin it—rule ...5 days ago
- NZ and US to undertake further practical Pacific cooperationForeign Minister Winston Peters has announced further New Zealand cooperation with the United States in the Pacific Islands region through $16.4 million in funding for initiatives in digital connectivity and oceans and fisheries research. “New Zealand can achieve more in the Pacific if we work together more urgently and ...5 days ago
- Government redress for Te Korowai o WainuiāruaThe Government is continuing the bipartisan effort to restore its relationship with iwi as the Te Korowai o Wainuiārua Claims Settlement Bill passed its first reading in Parliament today, says Treaty Negotiations Minister Paul Goldsmith. “Historical grievances of Te Korowai o Wainuiārua relate to 19th century warfare, land purchased or taken ...5 days ago
- Focus on outstanding minerals permit applicationsNew Zealand Petroleum and Minerals is working to resolve almost 150 outstanding minerals permit applications by the end of the financial year, enabling valuable mining activity and signalling to the sector that New Zealand is open for business, Resources Minister Shane Jones says. “While there are no set timeframes for ...5 days ago
- Applications open for NZ-Ireland Research CallThe New Zealand and Irish governments have today announced that applications for the 2024 New Zealand-Ireland Joint Research Call on Agriculture and Climate Change are now open. This is the third research call in the three-year Joint Research Initiative pilot launched in 2022 by the Ministry for Primary Industries and Ireland’s ...5 days ago
- Tenancy rules changes to improve rental marketThe coalition Government has today announced changes to the Residential Tenancies Act to encourage landlords back to the rental property market, says Housing Minister Chris Bishop. “The previous Government waged a war on landlords. Many landlords told us this caused them to exit the rental market altogether. It caused worse ...5 days ago
- Boosting NZ’s trade and agricultural relationship with ChinaTrade and Agriculture Minister Todd McClay will visit China next week, to strengthen relationships, support Kiwi exporters and promote New Zealand businesses on the world stage. “China is one of New Zealand’s most significant trade and economic relationships and remains an important destination for New Zealand’s products, accounting for nearly 22 per cent of our good and ...5 days ago
- Freshwater farm plan systems to be improvedThe coalition Government intends to improve freshwater farm plans so that they are more cost-effective and practical for farmers, Associate Environment Minister Andrew Hoggard and Agriculture Minister Todd McClay have announced. “A fit-for-purpose freshwater farm plan system will enable farmers and growers to find the right solutions for their farm ...6 days ago
- New Fast Track Projects advisory group namedThe coalition Government has today announced the expert advisory group who will provide independent recommendations to Ministers on projects to be included in the Fast Track Approvals Bill, say RMA Reform Minister Chris Bishop and Regional Development Minister Shane Jones. “Our Fast Track Approval process will make it easier and ...6 days ago
- Pacific and Gaza focus of UN talksForeign Minister Winston Peters says his official talks with the United Nations Secretary-General Antonio Guterres in New York today focused on a shared commitment to partnering with the Pacific Islands region and a common concern about the humanitarian catastrophe in Gaza. “Small states in the Pacific rely on collective ...7 days ago
- Government honours Taranaki Maunga dealThe Government is honouring commitments made to Taranaki iwi with the Te Pire Whakatupua mō Te Kāhui Tupua/Taranaki Maunga Collective Redress Bill passing its first reading Parliament today, Treaty Negotiations Minister Paul Goldsmith says. “This Bill addresses the commitment the Crown made to the eight iwi of Taranaki to negotiate ...1 week ago
- Enhanced partnership to reduce agricultural emissionsThe Government and four further companies are together committing an additional $18 million towards AgriZeroNZ to boost New Zealand’s efforts to reduce agricultural emissions. Agriculture Minister Todd McClay says the strength of the New Zealand economy relies on us getting effective and affordable emission reduction solutions for New Zealand. “The ...1 week ago
- 110km/h limit proposed for Kāpiti ExpresswayTransport Minister Simeon Brown has welcomed news the NZ Transport Agency (NZTA) will begin consultation this month on raising speed limits for the Kāpiti Expressway to 110km/h. “Boosting economic growth and productivity is a key part of the Government’s plan to rebuild the economy and this proposal supports that outcome ...1 week ago
- New Zealand Biosecurity Awards – Winners announcedTwo New Zealanders who’ve used their unique skills to help fight the exotic caulerpa seaweed are this year’s Biosecurity Awards Supreme Winners, says Biosecurity Minister Andrew Hoggard. “Strong biosecurity is vital and underpins the whole New Zealand economy and our native flora and fauna. These awards celebrate all those in ...1 week ago
- Attendance action plan to lift student attendance ratesThe Government is taking action to address the truancy crisis and raise attendance by delivering the attendance action plan, Associate Education Minister David Seymour announced today. New Zealand attendance rates are low by national and international standards. Regular attendance, defined as being in school over 90 per cent of the ...1 week ago
- World must act to halt Gaza catastrophe – PetersForeign Minister Winston Peters has told the United Nations General Assembly (UNGA) in New York today that an immediate ceasefire is needed in Gaza to halt the ongoing humanitarian catastrophe. “Palestinian civilians continue to bear the brunt of Israel’s military actions,” Mr Peters said in his speech to a ...1 week ago
- Speech to United Nations General Assembly: 66th plenary meeting, 78th sessionMr President, The situation in Gaza is an utter catastrophe. New Zealand condemns Hamas for its heinous terrorist attacks on 7 October and since, including its barbaric violations of women and children. All of us here must demand that Hamas release all remaining hostages immediately. At the ...1 week ago
- Government woolshed roadshow kicks offToday the Government Agriculture Ministers started their national woolshed roadshow, kicking off in the Wairarapa. Agriculture Minister Todd McClay said it has been a tough time for farmers over the past few years. The sector has faced high domestic inflation rates, high interest rates, adverse weather events, and increasing farm ...1 week ago
- PM heads to Singapore, Thailand, and PhilippinesPrime Minister Christopher Luxon will travel to Singapore, Thailand and the Philippines this week (April 14-20), along with a senior business delegation, signalling the Government’s commitment to deepen New Zealand’s international engagement, especially our relationships in South East Asia. “South East Asia is a region that is more crucial than ever to ...1 week ago
- Prime Minister launches Government TargetsPrime Minister Christopher Luxon has announced further steps to get New Zealand back on track, launching nine ambitious Government Targets to help improve the lives of New Zealanders. “Our Government has a plan that is focused on three key promises we made to New Zealanders – to rebuild the economy, ...1 week ago
- Natural hydrogen resource should be free of Treaty claims entanglementNatural hydrogen could be a game-changing new source of energy for New Zealand but it is essential it is treated as a critical development that benefits all New Zealanders, Resources Minister Shane Jones says. Mr Jones is seeking to give regulatory certainty for those keen to develop natural, or geological, ...1 week ago
- Government responds to unsustainable net migration...1 week ago
- New Zealand on stage at global Space SymposiumSpace Minister Judith Collins will speak at the Space Symposium in the United States next week, promoting New Zealand’s rapidly growing place in the sector as we work to rebuild the economy. “As one of the largest global space events, attended by more than 10,000 business and government representatives from ...1 week ago
- After a second knife attack in Sydney, how can parents talk to their kids and help them feel safe?
Source: The Conversation (Au and NZ) – By Elizabeth Westrupp, Associate Professor in Psychology, Deakin University In the space of three days, there have been two devastating knife attacks in Sydney. Your child may have seen these on the news or social media. Or they might be hearing about it ...1 hour ago - Why is the Sydney church stabbing an act of terrorism, but the Bondi tragedy isn’t?Source: The Conversation (Au and NZ) – By Greg Barton, Chair in Global Islamic Politics, Alfred Deakin Institute for Citizenship and Globalisation, Deakin University Just days after the deadly Westfield Bondi attacks, a second knife attack in Sydney has generated widespread shock and grief. This time, a 16-year-old entered an ...2 hours ago
- Masses of scalloped hammerheads have returned to one of Australia’s busiest beaches. But we don’...Source: The Conversation (Au and NZ) – By Olaf Meynecke, Research Fellow in Marine Science and Manager Whales & Climate Program, Griffith University A juvenile hammerhead at Burleigh Beach, watched by snorkellers Olaf Meynecke, CC BY-NC-ND For the second year in a row, over 100 hammerheads have gathered at one ...2 hours ago
- Have New Zealanders been misled about AUKUS, is involvement a foregone conclusion?
Analysis - New Zealand involvement in pillar two of the military deal would represent a seismic shift. ...3 hours ago - How the Lehrmann v Channel 10 defamation case shone an unflattering light on commercial news gatheri...Source: The Conversation (Au and NZ) – By Denis Muller, Senior Research Fellow, Centre for Advancing Journalism, The University of Melbourne Network Ten and Lisa Wilkinson’s victory in the defamation action brought against them by Bruce Lehrmann is the second big win inside a year for the Australian media using ...4 hours ago
- Pharmacists should be able to dispense nicotine vapes without a prescription. Here’s whySource: The Conversation (Au and NZ) – By Coral Gartner, Director, NHMRC Centre of Research Excellence on Achieving the Tobacco Endgame, The University of Queensland Zamrznuti tonovi/Shutterstock The Australian government is currently considering a bill to implement the next stage of reforms to vaping regulation. At present, vaping products ...4 hours ago
- For 600 years the Voynich manuscript has remained a mystery. Now we think it’s partly about sexSource: The Conversation (Au and NZ) – By Keagan Brewer, Macquarie University Research Fellow, Macquarie University Yale University Library The Voynich manuscript has long puzzled and fascinated historians and the public. This late-medieval document is covered in illustrations of stars and planets, plants, zodiac symbols, naked women, and blue ...5 hours ago
- Can AI read our minds? Probably not, but that doesn’t mean we shouldn’t be worriedSource: The Conversation (Au and NZ) – By Sam Baron, Associate Professor, Philosophy of Science, The University of Melbourne Iconic Bestiary / Shutterstock Earlier this year, Neuralink implanted a chip inside the brain of 29-year-old US man Noland Arbaugh, who is paralysed from the shoulders down. The chip has ...6 hours ago
- 5 reasons why the Fast-track Approvals Bill threatens NZ’s already fragile ecosystemsSource: The Conversation (Au and NZ) – By Margaret Stanley, Professor of Ecology, University of Auckland, Waipapa Taumata Rau Getty Images Conservation “good news” stories – the release of native birds into new habitats, for example – are always welcome. They recognise the work of conservation staff and volunteers ...6 hours ago
- Stuff to provide news bulletins to replace Newshub on ThreeBy Colin Peacock, RNZ Mediawatch presenter Warner Bros Discovery has done a deal with Stuff to provide news to replace Newshub. It will keep news on TV channel Three from July 6 and help Three retain some viewers. It also means important income for Stuff, but it will also stretch ...6 hours ago
- Stuck in fight-or-flight mode? 5 ways to complete the ‘stress cycle’ and avoid burnout or depres...Source: The Conversation (Au and NZ) – By Theresa Larkin, Associate professor of Medical Sciences, University of Wollongong Shutterstock Can you remember a time when you felt stressed leading up to a big life event and then afterwards felt like a weight had been lifted? This process – the ...6 hours ago
- Ministry of Education job cuts may affect school lunch programmeThere is concern the team delivering the programme could be halved, while RNZ has also been told it will be "decimated". ...6 hours ago
- From forced kisses to power imbalances, violence against women in sport is endemicSource: The Conversation (Au and NZ) – By Fiona Giles, Research Fellow, La Trobe Rural Health School, La Trobe University Former Spanish football federation chief Luis Rubiales may face significant consequences for his non-consensual kiss of Spanish soccer star Jenni Hermoso. But this is not the norm for perpetrators ...7 hours ago
- As China’s influence on Pacific media intensifies, Australia can’t afford to lose the region’s...Source: The Conversation (Au and NZ) – By Lucy Morieson, Lecturer in Politics and Communication , RMIT University When the people of Solomon Islands go to the polls on Wednesday, they will be voting for more than just a new prime minister. The election will also be a referendum on ...7 hours ago
- The best moments from the outrageous final episodes of MAFS AU
From the Jono and Ellie bombshell to the return of Collins, we look at back at the final episodes of Married at First Sight Australia 2024. When John Aiken told us back in February that we were in for a “quite shocking” season of Married at First Sight Australia, little ...7 hours ago - Expanding Coal Mining In 21st Century An “absurd, Selfish Decision” Says WWF
Resources Minister Shane Jones announced today that the Government will ease the consenting process for setting up new coal mines or expanding existing ones. ...7 hours ago - The Boy in the Water nominated for best podcast
Newsroom has received five nominations for the 2024 Voyager Media Awards, including best podcast for Melanie Reid’s popular nine-part in depth investigation The Boy in the Water. ReadingRoom’s Steve Braunias has been nominated for best columnist, opinion or critique, and Aaron Smale is up for the Te Tohu Kairangi award. ...8 hours ago - Watch: Christopher Luxon faces questions in SingaporeThe Prime Minister is speaking to media on his second day of a tour around South East Asia. ...8 hours ago
- Watch live: Christopher Luxon faces questions in SingaporeThe Prime Minister is speaking to media on his second day of a tour around South East Asia. ...8 hours ago
- How The Lost Boys of Dilworth brought a ‘horrendous nightmare’ to lifeAlex Casey talks to the makers of TVNZ’s new docudrama retelling the stories of Dilworth survivors. This story contains reference to sexual abuse, please take care. When she first saw the child actors that would be playing the young versions of Dilworth survivors, Mary Durham nearly burst into tears on ...8 hours ago
- Pro-independence activist issues dire warning to France over Kanaky New CaledoniaBy Lydia Lewis, RNZ Pacific journalist A pro-independence activist in New Caledonia is warning France to immediately halt its planned constitution amendments or face “war”. The call for a u-turn follows proposed constitutional changes to voting rights which could push the number of eligible anti-independence voters up. Pacific Independence Movement ...9 hours ago
- The last days of motorsport at Pukekohe Park Raceway | Checkered Flag | The SpinoffIn the final months of the Pukekohe Park Raceway, the father and daughter duo managing the grassroots racecourse want to give everyone a last chance to go fast. This asphalt has been a part of New Zealand’s motorsport community and history for 60 years. Checkered Flag is made with the ...9 hours ago
- Watch: David Seymour announces early childhood education centre changesACT's leader read to children while sitting next to a book featuring Jacinda Ardern, before telling reporters the former prime minister was an authoritarian. ...9 hours ago
- Smaller agencies cutting deepest into staffing, data to date showsSmaller agencies are making deepest cuts as they look to save costs, RNZ data shows. ...9 hours ago
- The last days of motorsport at Pukekohe Park RacewayIn Checkered Flag, the father and daughter duo managing the Pukekohe Park Raceway want to give everyone one last chance to go fast before its closure. Since it opened in 1962, the Pukekohe Park Raceway has hosted the New Zealand Grand Prix, the Tasman Series, and Supercar Championships as ...9 hours ago
- Labour Productivity Falls 0.9 PercentLabour productivity fell 0.9 percent in the year ended March 2023, according to figures released by Stats NZ today. The 0.9 percent fall in labour productivity was the largest fall since 2009. It follows a rise of 1.0 percent in the year ended March ...10 hours ago
- Shane Jones Throws A Lump Of Coal To The Mining LobbyistsCoal Action Network Aotearoa (CANA), the national organisation campaigning for an end to coal mining and coal use, says Resources Minister Shane Jones needs to understand the world has moved on from the industrial revolution, and coal - and siding with ...11 hours ago
- Jeepers creepers: the climbing cost of climate change compoundsKiwibank chief economist Jarrod Kerr explains what effect climate change will have on inflation, housing and policy – and whether there’s a way out. Climate change. It’s a gigantic force and it’s coming into play at a time when New Zealand is already struggling with inflation. We’ve gone from a ...11 hours ago
- New deal intends to make trade with Singapore simplerCustoms has signed a cooperation agreement with its Singaporean counterpart. ...11 hours ago
- Will pet bonds really be a win-win? I’m not holding my breathMaking it easier for people with pets to find rentals is a good thing. But the pet bonds policy is just one proposal in a suite of many that overwhelmingly favour landlords’ rights, argues Kristin Kelly. Renting in New Zealand, generally speaking, sucks. At the time of the last census, ...11 hours ago
- Shane Jones announces easier coal mine consentingThe Resources Minister says changes to coal mine consenting will reduce barriers to extraction. ...12 hours ago
- How a global crisis, drift racing and Memphis hip-hop gave us phonk – the music of the TikTok gene...Source: The Conversation (Au and NZ) – By Andy Ward, Senior Lecturer in Music, School of Business and Creative Industries, University of the Sunshine Coast Shutterstock What’s that sound you hear – a combination of down-tempo hip-hop, menacing bass, distorted drums and plucky synths? It’s phonk! Still ...12 hours ago
- Watch live: David Seymour announces early childhood education centre changesThe government has announced changes to the ECE sector, which it says will make it easier for new centres to be set up. ...12 hours ago
- The cost of being: A skint student waiting anxiously to start a new jobAs part of our series exploring how New Zealanders live and our relationship with money, a 30-year-old who’s just finished his studies will be breathing a sigh of relief when that first paycheck comes in. Gender: Male Age: 30 Ethnicity: Māori/European Role: Student/trainee, volunteer for a youth organisation. Salary/income/assets: Me: $400pw ...12 hours ago
- Breaking: Stuff wins race to replace Newshub with a new 6pm bulletin for ThreeSources familiar with the deal say the print news giant has beaten out NZME to create a 6pm bulletin to replace Newshub at Three. Less than a week after Three confirmed that its proposal to completely shutter Newshub will be going ahead, it will today confirm that Stuff has won ...12 hours ago
- Can playing Tetris help prevent PTSD if you’ve witnessed something traumatic?Source: The Conversation (Au and NZ) – By Daniel Bressington, Professor in Mental Health, Charles Darwin University In the wake of witnessing tragic events, many people turn to online communities such as Reddit to discuss and process their experiences. A common bit of advice users give each other is to ...13 hours ago
- Have New Zealanders really been ‘misled’ about AUKUS, or is involvement now a foregone conclusio...Source: The Conversation (Au and NZ) – By Marco de Jong, Lecturer, Law School, Auckland University of Technology Getty Images When former prime minister Helen Clark spoke out against New Zealand potentially compromising its independent foreign policy by joining pillar two of the AUKUS security pact, foreign minister ...13 hours ago
- With democracy under threat in Narendra Modi’s India, how free and fair will this year’s electio...Source: The Conversation (Au and NZ) – By Priya Chacko, Associate Professor, International Politics, University of Adelaide India’s prime minister, Narendra Modi, is favoured to win reelection when India’s 970 million voters start heading to the polls on April 19 in the country’s massive, six-week general election. Modi, who has ...13 hours ago
- What happens when I stop taking a drug like Ozempic or Mounjaro?Source: The Conversation (Au and NZ) – By Natasha Yates, General Practitioner, PhD Candidate, Bond University Diva Plavalaguna/Pexels Hundreds of thousands of people worldwide are taking drugs like Ozempic to lose weight. But what do we actually know about them? This month, The Conversation’s experts explore their rise, ...13 hours ago
- Climate change is causing marine ‘coldwaves’ too, killing wildlifeSource: The Conversation (Au and NZ) – By Nicolas Benjamin Lubitz, Researcher in marine ecology, James Cook University Ryan Daly The effects of ocean warming are profound and well-documented. But sometimes changes in the patterns of winds and ocean currents cause seawater to suddenly cool, instead. Surface temperatures ...13 hours ago
- Our research suggests eating an unhealthy breakfast could have a similar effect on your child’s sc...Source: The Conversation (Au and NZ) – By Andrew J. Martin, Scientia Professor and Professor of Educational Psychology, UNSW Sydney Haley Owens/Unsplash, CC BY Many parents know it is important for their teenagers to have breakfast before they go to school. Even though young people can be reluctant ...13 hours ago
- NZ joins call for Israel not to escalate tensions with IranForeign Minister Winston Peters says now is not the time escalation, but rather for calmness. ...13 hours ago
- China’s forced returns prompt call for foreign interference committeeA report sheds new light on NZ residents pressured into returning to China to face its legal system The post China’s forced returns prompt call for foreign interference committee appeared first on Newsroom. ...13 hours ago
- Mega tunnel idea prompts anger and satire but finds a couple of championsOne proponent has suggested the minister give Elon Musk a call about the newly resurrected mega tunnel idea for Wellington, writes Anna Rawhiti-Connell in this excerpt from The Bulletin, The Spinoff’s morning news round-up. To receive The Bulletin in full each weekday, sign up here. ‘We’re having a really good look ...13 hours ago
- Costs of Pūhoi to Warkworth motorway not to be finalised until 2025The divvying up of costs for the billion-dollar Pūhoi to Warkworth motorway will not be finalised until next year. ...14 hours ago
- Air NZ calls for Govt mandates to help drive sustainable aviation fuel useNew Zealand’s national carrier has taken a leap towards its net zero 2050 goal, with its biggest ever purchase of sustainable aviation fuel. But Air NZ chair Dame Therese Walsh said it was now time for the Government to step in with policies that would help level the playing field ...15 hours ago
- Public service cuts: $6.3m in payouts at one ministry so farThe total cost of redundancies across the public service is not yet known and the Finance Minister has not asked for an estimated price tag. ...16 hours ago
- A flagpole, a failed space, and a confused history of white fragilityWellington’s Flagstaff Hill has a strange, dark history…. or does it? Max Rashbrooke uncovers the truth about a historical myth. I pass it almost every day, yet never see it used. The flagpole, placed on a grassy hill above Wellington’s CBD, surrounded by trees and houses, and accessible only by ...16 hours ago
- A series of alternative, equally ambitious, transport options for WellingtonYou want to build a giant underground tunnel? Dream a little bigger. On Monday, news broke that the government is investigating the prospect of a mega-tunnel, running from Wellington’s The Terrace to Kilbirnie, designed to reduce the car load on State Highway 1 and speed trips up by an astounding ...16 hours ago
- Beyond the DoC job cuts: ‘The worst is yet to come’Losing staff is just the beginning of a coming storm for the Department of Conservation, environmental groups warn The post Beyond the DoC job cuts: ‘The worst is yet to come’ appeared first on Newsroom. ...16 hours ago
- ‘Reverse uplift’ foster parents still waiting to hear from OTThe foster couple at the centre of a Newsroom video investigation ordered removed from our website by the High Court are hopeful a Court of Appeal ruling means they finally hear back from Oranga Tamariki, who have been giving the couple the “silent treatment”. “We’re still in limbo. Our lives ...16 hours ago
- Environment Court shuts down Pākiri sand mining appealThe court found the ‘clear benefits’ of continuing to take sand from Pākiri didn’t outweigh environmental concerns The post Environment Court shuts down Pākiri sand mining appeal appeared first on Newsroom. ...16 hours ago
- Man in the middleIt’s no easy task leading a company that supplies fossil fuels in this day and age, and no one gives Z Energy chief executive Lindis Jones a harder time about it than his own kids. His work skating the friction zone – maintaining steady fuel supply while supporting the transition ...16 hours ago
- Carers want out from disability ministry over funding fiascoCarers want to use their funding as they see fit The post Carers want out from disability ministry over funding fiasco appeared first on Newsroom. ...16 hours ago
- Swiss climate ruling full of holesOpinion: European Court of Human Rights rules that Switzerland’s climate policy violates human rights of its citizens The post Swiss climate ruling full of holes appeared first on Newsroom. ...16 hours ago
- Newsroom daily quiz, Tuesday 16 AprilLoading…(function(i,s,o,g,r,a,m){var ql=document.querySelectorAll('A[quiz],DIV[quiz],A[data-quiz],DIV[data-quiz]'); if(ql){if(ql.length){for(var k=0;k<ql.length;k++){ql[k].id='quiz-embed-'+k;ql[k].href="javascript:var i=document.getElementById('quiz-embed-"+k+"');try{qz.startQuiz(i)}catch(e){i.start=1;i.style.cursor='wait';i.style.opacity='0.5'};void(0);"}}};i['QP']=r;i[r]=i[r]||function(){(i[r].q=i[r].q||[]).push(arguments)},i[r].l=1*new Date();a=s.createElement(o),m=s.getElementsByTagName(o)[0];a.async=1;a.src=g;m.parentNode.insertBefore(a,m)})(window,document,'script','https://take.quiz-maker.com/3012/CDN/quiz-embed-v1.js','qp'); Got a good quiz question? Send Newsroom your questions. The post Newsroom daily quiz, Tuesday 16 April appeared first on Newsroom. ...16 hours ago
- Rhapsody in feijoaThe greatest book ever written about the feijoa may well be the only book ever written about the feijoa but there is no doubting that the recently published Feijoa by Kate Evans qualifies as a New Zealand natual history classic, a deep and knowledgeable dive into the life story of ...16 hours ago
- Daily crossword, Tuesday 16 AprilThe post Daily crossword, Tuesday 16 April appeared first on Newsroom. ...16 hours ago
- Principals on the truth behind truancyBad parenting – or are there a million other reasons that a child might not make it to school? Ask Ash Maindonald, the principal of Western Heights School, a primary school in West Auckland. He’ll tell you that every principal he speaks to has a litany of war stories they ...16 hours ago
- Security steals focus in Luxon’s Singapore swingOne of New Zealand’s closest defence partners has warned of the possibility of “calamity” if countries didn’t come together to negotiate a peaceful resolution to the Middle East conflict. “It is a very troubled world. And in particular, it is a very very troubled Middle East,” said Singapore Prime Minister ...21 hours ago
- Rideshare giant Ola has abruptly exited the Australian market. What does this mean for the future of...Source: The Conversation (Au and NZ) – By Neil G Sipe, Honorary Professor of Planning, The University of Queensland Diego Thomazini/Shutterstock Last week, Indian rideshare giant Ola announced that it would abruptly cease operations in Australia, New Zealand and the UK. A competitor to Uber, the company ...23 hours ago
- Recession, high interest rates take toll on construction industryTony Boyce threw "mega bucks" into his company to try keep it afloat but with no work coming in, he has to close it down for good. ...24 hours ago
- New Wellington tunnel: 'An astonishing misunderstanding of transport priorities'A new underground mega-tunnel in the capital would be a colossal waste of money, opponents of the government's suggestion for the tunnel say. ...1 day ago
- Singapore PM warns against Middle East 'calamity', signs NZ agreementSingapore's PM has warned small countries cannot solve the Middle East situation but efforts must be made to push for peace, after promising closer cooperation with NZ. ...1 day ago
- Pet bond will be 'safety blanket' for landlords – Housing Minister Chris BishopLandlords will be able to charge up to two weeks' rent, but renters say it's just another way for landlords to "pad their wallets". ...1 day ago
- We found three new species of extinct giant kangaroo – and we don’t know why they died out when ...Source: The Conversation (Au and NZ) – By Isaac A. R. Kerr, Research Assistant at Flinders University Palaeontology Laboratory, Flinders University Artist’s impression of the prehistoric landscape and creatures that Protemnodon would have walked among. Peter Schouten For millions of years, giant animals or megafauna roamed the lands that are ...1 day ago
- What public sector job cuts mean for Wellington small businessIt's not just public sector workers who are feeling the pain - the Wellington shops and services who rely on their custom fear they will be hit hard, too. ...1 day ago
- Judge finds Bruce Lehrmann raped Brittany Higgins and dismisses Network 10 defamation case. How did ...Source: The Conversation (Au and NZ) – By Brendan Clift, Lecturer of law, The University of Melbourne Bruce Lehrmann has lost his defamation suit against Channel Ten and journalist Lisa Wilkinson after the media defendants proved, on the balance of probabilities, that Lehrmann raped his colleague Brittany Higgins in Parliament ...1 day ago
- Sydney attacker had ‘mental health issues’ but most people with mental illness aren’t violentSource: The Conversation (Au and NZ) – By James Ogloff, University Distinguished Professor of Forensic Behavioural Science & Dean, School of Health Sciences, Swinburne University of Technology The man who killed six people and injured countless others at a Bondi shopping centre on Saturday, 40-year-old Joel Cauchi, reportedly had “mental ...1 day ago
- Family carers lose employment status after successful Govt appealTwo parents victorious in the Employment Court have had the decision to count them as employees of the Government for the work they do in caring for their children, overturned. The Court of Appeal has released its judgment following a lengthy deliberation since the final day of the hearing ...1 day ago
- Australia now has a $70 ‘shadow price’ on carbon emissions. Here’s why we won’t see a real p...Source: The Conversation (Au and NZ) – By John Quiggin, Professor, School of Economics, The University of Queensland Andriano/Shutterstock For those who have followed the tortuous path of Australian climate policy over recent decades, a recent report by the Australian Energy Market Commission of a “shadow price” of ...1 day ago
- Revealed: A cost-benefit analysis for Wellington’s long tunnelDoes the capital really need a really long tunnel? Quite possibly, reckons Simeon Brown. Here’s how the transport minister might* have decided a project once rejected because it was eye-wateringly expensive was worth another look. Transport minister Simeon Brown has asked Waka Kotahi officials to investigate building a long tunnel ...1 day ago
- Long Covid sufferers scared they'll face penalties under government benefit resetSarah Macrae is in "agony" just trying to drive her children to school. Looking for work is impossible, she says. ...1 day ago
- Crisis communication saves lives – but people with disability often aren’t given the messageSource: The Conversation (Au and NZ) – By Ariella Meltzer, Research Fellow in Social Impact, UNSW Sydney In a pandemic, bushfire or flood, people need high quality safety and crisis information. Getting emergency messages quickly can help people know how to prepare, what rules to follow, where dangers are, where ...1 day ago
- More WorkSafe Cuts Will Put Workers’ Health And Safety At RiskMoves by WorkSafe to start planning for further job cuts risks making New Zealand workplaces less safe, and New Zealand’s already poor worker safety record even worse, the PSA says. In November 2023 WorkSafe disestablished 113 roles , putting ...1 day ago
I take your message seriously thanks Marty.
But loved your “National’s spinsters believe their own spin.” Images of sad lonely maidens knitting socks for the National Party.
“IF” is a wonderful word.
IF I had picked the correct lotto numbers I would be a millionaire by now.
I think it is quite justifiable not to put public money, especially borrowed public money at risk in the conditions the markets were in last year. There is still plenty of indications in the likes of the American housing market and sovereign debt issues that the world economy is still in a very tenuous situation. In fact, in many ways, the can has just been kicked down the road.
The QE programs and stimulus have artificially pumped up the markets, but there was no guarantee of success at the time. Governments shouldn’t only be thinking about return, they also need to be thinking about risk. Afterall, the likes of shares etc aren’t called “risky” assets for nothing. Sure, the American stock markets have been doing well in nominal terms. However, when the devaluation of the dollar over that time is netted off, the returns aren’t nearly has spectacular in real terms. Also, there are some real and present dangers such as contagion in sovereign debt and major asset bubbles in China that could blow up at any time.
Fine to put your own money at risk. But when you’re a government doing it on the behalf of others, and borrowing it as well, its a no-brainer, really.
One other thing Marty. I might be wrong, but I think is you who has written some quite good articles on the likelihood of a double-dip recession for the world economy.
If you have written these articles, why do you subscribe to the government borrowing to invest in a world market subject to the sort of risks you have perceived.
clearly, there has been an uptick and everyone could see that coming by budget time last year.
will there be a double dip? the chances of it happening this year are receding.
When the next recession comes the fund should do what it has done, see what’s coming, get into cash, bonds, and gold, wait out the storm, then buy cheap off the useless capitalists and ride the upswing.
And what of “black swan” events, Marty?
For instance, who knows what the eventual economic repercussions will be of the icelandic volcano eruption (some of these have historically gone on for years).
Don’t get me wrong. I am currently risking some of my own money on stocks etc. However, its a different story when it is money borrowed on behalf of the public. I’ll tell you what. Why don’t you take out a mortgage on your house. Give the money to me, and I’ll invest it for you.
“Nor can you automatically assume that it wold have done worse like Farrar does.”
Exactly. There is no way to know what would have happened, so Small’s story is a pointless beat-up.
Meanwhile, NZ keeps on borrowing $250 million a week. As you seem to be happy with the country borrowing money to invest (gamble) in the stockmarket, presumably you advocate the same for individuals and families?
Perhaps Labour’s next social welfare policy will be extending loans to the working poor so they can cash in on the evil capitalist stockmarket?
It’s not $250 mil a week. In fact, so far this year net govt debt has gone down.
facts = useful.
“Perhaps Labour’s next social welfare policy will be extending loans to the working poor so they can cash in on the evil capitalist stockmarket?”
they did – Cullen Fund and Kiwisaver, govt money to give rewards to working poor. The Left has no problems with the people owning the means of production.
facts=useful
I am sure that you would be aware that some portion of this is sourced from increase of investments e.g. ACC, Cullen funds and others. This was in yesteryear under Lab some of our surplus were so great from the bebfit of investment funds increasing. The benefit from investments. Just becasue yo have a break even situation but there could be as like today a CASh deficit. Conversley the opposite could and has occurred, where we have cash surplus but net debt increases. Like in business Cash is king!!
“Between March and December last year it made a 31.7% return…”
No, it only made that much ‘return’ on money actually invested at the bottom of the crash.
The same, roughly, would be true of my portfolio, but as between September ’07 and February ’08 it lost nearly 50% it still isn’t back to its value of 18 months ago. Farrar is right in the sense that NZ has hundreds of millions less to spend now than it had 18 months ago just as I have a few thousand less – on paper – but that’s only relevant to the extent that we might actually want to realise it now to spend on something else. As both the Cullen Fund and my portfolio are ‘nesteggs’ the only relevant figure is the return (or otherwise) seen over the life of the investment and what the thousands I, and millions NZ, might invest are worth then.
That said, I did keep investing in my small way even through the crash and I have made substantial gains on those small investments which off-set the major losses in the short term, while in the long term the cheaply bought will show the best return.
It’s time someone called this bullshit about ” borrowing $250 mill a week”. Quite a few weeks ago one of the TV stations in a rare spot of journalism asked ( I wish I could remember who, but it was a quick snippet of course) a senior economist from Berl or BNZ or somesuch about it and he said that it was basicly bullshit. Most of the 250 was rollovers and the amount of new money raised was a lot less than the mythical $250 million.