National costs you $100,000 from your retirement fund

Written By: - Date published: 9:49 am, July 2nd, 2016 - 66 comments
Categories: accountability, class war, national, superannuation - Tags: , , ,

If you’re an average worker the actions of the National government have reduced the value of your KiwiSaver fund at retirement by about $100K:

National’s cuts shave $100K off KiwiSaver by retirement

Press Release: New Zealand Labour Party

New analysis shows National’s constant cuts to KiwiSaver will reduce the average worker’s retirement savings by $100,000 over their working life, Leader of the Opposition Andrew Little says.

“The former Labour Government launched KiwiSaver nine years ago today to boost the country’s savings and ensure all New Zealanders have a nest egg in their retirement.

“National has gutted KiwiSaver. Since coming to office it has made five separate cuts to the scheme:

• Taxed employer contributions

• Halved the maximum Member Tax Credit from $1042 to $521

• Halved the Member Tax Credit rate from $1 for every dollar saved to 50c

• Reduced employee/employer contributions from 4 per cent to 3 per cent

• Abolished the kick-start payment

“Analysis by the Parliamentary Library (attached) shows a worker on the average wage joining the scheme today will have total contributions of $3500 after their first year. That would have been $6700 without these cuts.

“After their first year, the average worker misses out on $2,200 a year in contributions. That adds up to $100,000 the average worker will miss out on if they retire after 45 years’ work. That’s a big slice of their nest egg.

“Axing the start-up payment alone resulted in new KiwiSaver sign-ups plummeting.

“Figures released this week show growing inequality under this Government. National’s KiwSaver cuts are making inequality worse by making it harder for middle New Zealand to save.

“For many people, KiwiSaver is their largest financial asset outside their home – if they’re lucky enough to own one. Having less savings in their scheme means people will be forced to work for longer and will have less to retire on,” Andrew Little says.

ENDS

KiwiSaver_Cuts.xlsx

66 comments on “National costs you $100,000 from your retirement fund ”

  1. jcuknz 1

    In addition there are holes in the scheme which enable you to use part to fund your home to reduce it further. Quite apart from savings are held in expensive private schemes, with not guarantees, which further reduce matters. Even 4% was ridiculously low and to be meaningful should have been almost twice that as I ended up paying with NatProv.
    I am glad it was not possible for me to dip into my fund. But of course I worked in happier days did I but know it.

  2. dv 2

    And don’t forget the OBR where a collapsing bank can take 10% of you saving to prop them up. (I know not Kiwisaver)

  3. Greg 3


    There is a little-known clause in the Employment Relations Act that allows for an employee’s salary to represent ‘total remuneration’ for the role they perform.

    “Should that employee decide to join KiwiSaver, the cost of the employer’s contribution will come directly from the employee’s pay.

    “If an employer wishes to adopt the ‘total remuneration’ approach, there is still the requirement to negotiate in good faith with the employee.
    =How many employee’s have that option.

    The Individual Employment Agreement must include a clause detailing the ‘total remuneration’ which accounts for the amount of the employer’s contribution (if any)’

    =Who has this in there employment agreement?

    =Still think its a wonderful deal.
    =loss of compounding wage rises, + long term effect?

    http://www.nzherald.co.nz/personal-finance/news/article.cfm?c_id=12&objectid=11341802

    http://www.dummies.com/how-to/content/how-investments-lose-value-over-time.html

    • Infused 3.1

      Thats hardly little know

    • The New Student 3.2

      Yes, people are more aware of total rem arrangements nowadays but doesn’t hurt to keep making noise about it. I’ve been on total rems before. It’s a bit tough seeing the whole lot come out of your pay! But yeah it does require the employee to be both aware and confident enough to negotiate the contribution component, which many certainly are not. which this government seems to encourage

  4. Draco T Bastard 4

    Kiwisaver is just another capitalist Ponzi scheme. It adds to the inequality and environmental destruction that is inherent in capitalism and, of course, it will eventually collapse the same way that capitalism is presently collapsing.

  5. save nz 5

    Unbelievable!! National are so greedy and sneaky!! Plenty of money for their corporate cronies through I see.

    And that is why I never went into Kiwisaver and why Kiwis don’t save for their retirement.

    What’s the point if in the course of your lifetime some greedy politician comes and steals money you should have received or makes changes every year.

    Who can trust them. Even if you trust one party, the next one comes along to steal it.

    They should have a guarantee on it. No changes.

    Apparently we can lock in TPPA against workers but can’t lock in benefits for workers.

    Disgusting.

    Great work by Labour and Andrew Little to let us know about this dodgy rip off by the National party.

    And people are still waiting for that holiday pay too…

    • mosa 5.1

      I joined kiwisaver just before the National party won in 2008 knowing they would despite John Keys soothing words lay their thieving hands on the scheme and make it as they always do to the disadvantage of the hard working kiwis who had in good faith and enticed by the $1000 kickstart and employer contribution to match their own.
      Before they harmed it and made it unequitable it was a well put together scheme to encourage kiwis who do not save a cent to put aside a supplement to a minimum pension when they finish working.
      If they had the long term of the country as their priority not just 9-12 years and enhanced the scheme incl the emloyer contribution rate , tax credits ,and join up incentive in other words improved it as an investment instead of a cash cow to tinker with it would have demonstrated some commitment to long term savings which we dont have a good track record of and increased confidence that it would remain in its current form and not interfered with and not disadvantage the working kiwis that already get nailed on everything else by being in the fund.
      That would have demonstrated mature leadership but we dont do maturity well in New Zeeluund.
      $100,000 less to live on is deliberate fraud against working kiwis and Little should keep saying it LOUDLY at every given opportunity !

  6. Eralc 6

    So what will Labour do, put it all back to how it was? Semantics, I know, but the second and third bullet points seem to be one in the same – I stand to be corrected if that’s not right.

    • mosa 6.1

      The point is they should NOT have too put it back if as Key promised they would not alter it !!!
      It should not have been taken in the first place !!!
      Why do idiots keep voting for this party knowing its track record when it comes to governing this country its never good for hard working kiwis.
      Compasionate conservatisim _ brighter future my arse !! another John Key Myth

  7. fisiani 7

    Labour just whinge and whinge and complain about National not spending enough. Money does not grow on trees or from a magic hole in the wall machine. Note that Labour are not planning to give you $100,000 just moan about it. How can you lose something that you never had?

    • Stuart Munro 7.1

      Money certainly doesn’t grow on trees when one’s fiscally irresponsible tax cut has endebted the country to the tune of $120 billion, and is headed for $150 billion if no public spirited citizen deposes this utterly useless corrupt government.

      • Dv 7.1.1

        And don’t forget the 1.6 billion bailout to SCF.

      • ropata 7.1.2

        there’s plenty of cash for convention centres, motorways, and tax breaks for corporations. lots of fancy new skyscrapers and sports stadiums are in the works. it’s really sweet that there’s no capital gains tax and house prices are just shooting up forever.

        oh sorry no cash for social housing or hungry school kids.

        • Stuart Munro 7.1.2.1

          You’re right of course – I’m much too generous to these thieving scoundrels.

    • maninthemiddle 7.2

      Exactly! And yet other posters here have accepted lying Little’s so called ‘analysis’ hook line and sinker.

    • Colonial Viper 7.3

      How can you lose something that you never had?

      We did have it. Labour had set up a good deal. Then National pulled out of it.

      • maninthemiddle 7.3.1

        When? In 1975? If so, I never had, so I never lost it. Besides, i’d rather manage my own retirement savings thanks.

    • Colonial Viper 7.4

      Money is created faster than a tree creates leaves. That’s because in the modern day, money is created out of thin air by keyboard strokes.

      In the last thirty years the NZ Government has allowed the new dollars in circulation to quintiple in just the last couple of decades. Over $100B in brand new dollars.

      Materialised out of thin air.

    • Pat 7.5

      there appears to be no lack of money trees for tax cuts however…

    • Sabine 7.6

      26 mil flag debacle

      • gsays 7.6.1

        and petty cash is full with the $ that used to go to lifeline.

      • jcuknz 7.6.2

        Since most of the 26 million went to the Post Office it was a donation to keep the loss of that organisation down … tricky that!

    • ropata 7.7

      And yet the house prices in Auckland have doubled in the last 6 years. Money DOES fucking grow out of thin air. It’s wealth that hasn’t been growing as the top 5% like Key have stolen ever more off the lower IQ morons like you

    • Fisiani, looks like you have lost a brain, or maybe you never had one in the first place,

  8. dave 8

    all i can think about is the half a trillion dollars debt when houseing bubble pops
    the debtors should pay not savers

  9. Incognito 9

    Something badly wrong here? The difference between $6700 and $3500 is $3200 and not $2,200 as stated in this Post and the original Media Statement!?

  10. Wayne 10

    Lets assume the calculations are correct. It is obviously true that if the taxpayer subsidy for each Kiwisaver account is reduced, the final amount saved in each account will be less.

    I recall the reason why the changes were made, which was primarily because the uptake rate was much higher then anticipated by Treasury in part due to the size of the taxpayer subsidy. It also meant the cost to the govt finances was much higher then Treasury estimated, and at a time when we were in the middle of the GFC. This meant money being extracted from the economy and put into long term savings at the very time when current consumption was the need, or in other words the requirement was economic stimulus.

    So Labour has now done the calculations of the impact of the changes for an account that lasts 49 years, fair enough. But it does raise the obvious question, will Labour restore all the subsidies for KiwiSaver, at a cost to govt expenditure of probably around $500 million, maybe more?

    • ropata 10.1

      Is that what you tell yourself when cheering on the theft of billions from hard working kiwis?

      FFS you RWNJs are short sighted idiots and have fucked over NZ time and time again

      http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10465138

      • Wayne 10.1.1

        Well actually it was not hardworking kiwis money that was taken, it was a reduction of the taxpayer subsidy that the govt (other taxpayers) gave to each KiwiSaver. Obviously people keep what they had already got, it was future taxpayer subsidies that were reduced.
        As I say the real question is whether Labour will reinstate the level of taxpayer subsidy that prevailed in 2008.

        • ropata 10.1.1.1

          1. government finance is not a zero sum game. it is their own policy of tax cuts to the wealthy that have screwed the balance sheet & provided a pathetic excuse for artificial cuts to social spending
          2. the real question is not what you say it is. labour is not in government
          3. national must answer for their regressive policies that have worsened inequality in New Zealand and thrown thousands into poverty. that is the “real question” IM(NS)HO

        • RedBaronCV 10.1.1.2

          Much as us kiwi’s (other taxpayers) decided that the best way to deal with the GFC was to give major tax cuts to high end earners, fund Saudi sheep farms, bail out SC Finance, Tiwai point, flag referendums , build useless roads etc etc. All very low quality government spending compared to Kiwisaver.

          But hey you keep mentioning how well you are doing so you and other wealthy high end earners will be happy to pay a couple of thumping levies to get that external debt under control and pop a lump sum in those kiwisaver accounts!

    • ropata 10.2

      It’s funny how all the Nat Party policies have a short term benefit to the wealthiest 1% and a long term cost to the long suffering NZ taxpayer.

    • save nz 10.3

      What is the cost of Kiwi’s not saving, for treasury?

      Yep, always Labour’s fault, they get more people than expected saving for their retirement, but under National – that’s bad!

      National seem so keen on subsidising businesses in corporate welfare but that’s good!

      Bit of a double standard there.

      Anyway I knew National would get in and F*&k it up, so I never joined.

      BTW our mostly Aussie banks don’t have to guarantee bank deposits like practically every other OECD country… wonder why Kiwis don’t save – look at the reasons!

    • DH 10.4

      “This meant money being extracted from the economy and put into long term savings at the very time when current consumption was the need, or in other words the requirement was economic stimulus.”

      That argument might have some merit if the Govt hadn’t also walloped up ACC levies around the same time Wayne. You’re just making shite up there IMO.

  11. Stuart Munro 11

    So in essence what you’re saying Wayne is that the Gnat’s economic management is so inept they cannot meet their obligations. Rockstars indeed!

  12. b waghorn 12

    They should of kept the kick start , dumped tax credits , and not taxed the earnings , also cracking down on the amount of fees would be good.

  13. slumbergod 13

    hahaha “retirement”??? What’s that? There isn’t going to be any retirement for the people at the bottom of society, just like there isn’t going to be health care, dental care, or welfare.

  14. stunned mullet 14

    Give me some free money !

    • Paul 14.1

      Someone who defends a government that does not house its citizens.
      Shame on you.

      • stunned mullet 14.1.1

        Big ups Paul – I love your morning moan.

        perhaps you could spice it up like this piece I was sent from the UK…

        “…..While we’re on the subject of scum. Blair has once again stuck his head above the parapet. As we know, we need to negotiate our new relationship with the Fourth Reich over in Brussels. As we also know, this will be pretty complex. So, up pops Tony Blair, like the eternal foul stench, once again pretending to be our saviour and offering his services as a negotiator.
        Apart from the fact Blair is a filthy, murdering, money whore, lying, arrogant, ignorant, dishonourable, dishonest, conniving, warmongering, bloodthirsty traitor. He never does ANYTHING unless there is something in it for Tony Blair. His chances of a cushy job in Brussels have been shot to shit, so I can only imagine that Blair considers this an opportunity to once again raise his profile and be seen as some kind of hero. He seems to need the adoration of the public. The big problem he faces, is that everyone on Planet Earth knows that he’s a massive cunt.

        Still, he can’t resist the opportunity of taking part in a high profile negotiation. Whoever turns out to be our next Prime Minister, their first job should be telling Blair to fuck off, and shove a live hand grenade up his arrogant arse. Let’s not forget, it was Blair who gave up part of our rebate on the money that the EU steals from us each year.

        Though not for much longer…”

        • save nz 14.1.1.1

          +1 Stunned Mullet, while I wouldn’t describe Tony Blair in quite the same terms, I think you are totally on the right track about him in general.

          The big joke was when he volunteered to help the Palestine/Israel peace talks after invading Iraq. What a joke, no wonder the peace talks stalled with him on board – political sabotage!

          • stunned mullet 14.1.1.1.1

            Not my work save nz a friend from up north in the UK sent it across.

            He’s also sent see great stuff on Jeremy Corbyn if you want me to post the random thoughts of a yorkshireman.

    • Pat 14.2

      “Give me some free money !”

      Isn’t that what we do for all those negatively geared rentiers (to name just one group)?

    • dv 14.3

      Ha SM is a bank – heard of the OBR?

  15. DH 15

    I’m not sure you want to link to their workings, their error is rather glaring.

    God these Labour people are amateurs, they can’t even get their numbers right on simple stuff like this.

    • Pat 15.1

      what error would that be?

      • DH 15.1.1

        Employees don’t lose their own contribution Pat. Cutting the employers maximum from 4% to 3% doesn’t cut the employees contribution to 3%.

        • Pat 15.1.1.1

          and you suggest the calculation assumes an employee contribution reduction to 3%?

          • DH 15.1.1.1.1

            That it does Pat, you could try looking at it yourself.

            • Pat 15.1.1.1.1.1

              that it does…not doing themselves any favours presenting it thus even though its reasonable to assume a matching of employee contribution to employers contribution for maximum benefit.

              • DH

                Mistakes like that sabotages their own argument. The one lesson they should have learnt by now is to double-check their figures before quoting them.

                The Labour caucus really do appear to have a problem with their maths, they just don’t seem to have (m)any MPs who are good with numbers.

                • Pat

                  suspect it wasn’t a math problem….rather a political nous problem…..they were trying to present the worst possible case, foolish given it was bound to be noted and discredits them, whereas they could have presented a slightly less bad case and added a rider saying”and it could potentially be worse”.

                  As you note…they should have learned by now.

                  • DH

                    I have to admit I have no idea what they were thinking at all. Their argument is dumb, it leaves them wide open to ridicule and rebuttals.

                    They neglected to add in the compounding interest which would genuinely take the losses over $100k.

                    The lost tax credit of $521.43 alone would compound to over $48k at a conservative annual return of 3% (after tax).

                    • The argument and supporting example is overly simplistic and rather unrealistic, but not dumb. It talks about contributions. Not returns. Not account balance. I’d say compounding interest has no bearing on the contributions required by legislation.

                      Thus, the ~$100K difference in contributions (on a constant salary of $57.7K for 45 years straight) when comparing Labour’s scheme with that of National checks out.

                      While I thought it was a bit silly overkill having two points that refer to the exact same thing, one must remember that many members don’t contribute enough to max out the MTC in a year. So now they only get 50c in the dollars they do contribute (up to $521) as opposed to dollar for dollar (up to $1042).

                      The compulsory employer contribution rate (CEC) well I believe Labour planned for a rate of 4% from 2011 onwards. What we got was 2% then upped to 3% from 2013 onwards. http://www.treasury.govt.nz/budget/2007/kiwisaver/pdfs/ks-employer.pdf
                      So I guess saying “Reduced employee/employer contributions from 4 per cent to 3 per cent” has some persuasive merit.

                      Reducing the employee contribution to minimum of 3% well that’s hardly persuasive as one can elect to contribute 4% if they so wish. But again, I think Labour intended the minimum to be 4% from 2011 onwards, so that’s why it was used for calculating the Labour example in the spreadsheet.

                      ESCT erodes the employer contribution, pretty plain as day. It was probably necessary for reasons.

                      I believe National removed the $40 fee subsidy and also removed the $1040 (ish) employer subsidy/tax credit.

                      So contributions-wise, KiwiSavers ARE worse off under the tweaks and changes introduced by National government, as we all know. Mainly due to reduction in MTC, removal of kickstart and application of ESCT. The simple example given is a pretty sound comparison between what is, and what was/might have been. Yes the power of compound interest is the whole point of a long-term investment like KS, but it has little to do with the contributions required by legislation.

                    • DH

                      “Thus, the ~$100K difference in contributions (on a constant salary of $57.7K for 45 years straight) when comparing Labour’s scheme with that of National checks out. ”

                      You’ve lost me there. Are you saying you can’t add & subtract or you haven’t looked at their figures?

    • save nz 15.2

      @DH bit like English not being able to work out the cost of parental leave bill. Never mind, nothing in it for English, why would he bother?

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    As 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 ...
    PolitikBy Richard Harman
    2 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 ...
    The KakaBy Bernard Hickey
    3 days ago
  • EGU2024 – Picking and chosing sessions to attend virtually
    This 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 ...
    3 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 ...
    More Than A FeildingBy David Slack
    3 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 ...
    Point of OrderBy Bob Edlin
    3 days ago
  • Climate change violates human rights
    That'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 ...
    No Right TurnBy Idiot/Savant
    3 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 ...
    Point of OrderBy poonzteam5443
    3 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 ...
    Point of OrderBy poonzteam5443
    3 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 ...
    3 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 ...
    Nick’s KōreroBy Nick Rockel
    3 days ago
  • Member’s Day
    Today 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 ...
    No Right TurnBy Idiot/Savant
    3 days ago
  • Bernard's Top 10 'pick 'n' mix' at 10:10 am on Wednesday, April 10
    Luxon in 2021 as a new MP, before his rise to PM and subsequent plummeting popularity. Photo: Lynn Grieveson / The KākāTL;DR: Here’s the 10 things that stood out for me from me reading over the last day, as at 10:10 am on Wednesday, April 10:Must read: Tova O’Brien describes ...
    The KakaBy Bernard Hickey
    3 days ago
  • What’s happening with Airport to Botany
    One 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 ...
    3 days ago
  • Bishop more popular than Luxon in Curia poll
    Count 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 ...
    The KakaBy Bernard Hickey
    3 days ago
  • Silmarillion Fan Poetry: A Collection (2022-2024)
    It’s been some time since I properly exercised my poetic muscles. Prose-writing has been where it’s at for me, these past few years. Well, to get back into practice, I thought I’d write the occasional bit of jocular fan poetry, based off Tolkien’s Silmarillion… with this post being a collection ...
    3 days ago
  • At a glance – The Pacific Decadal Oscillation (PDO) is not causing global warming
    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 ...
    4 days ago
  • Bryce Edwards: What’s to blame for the public’s plummeting trust in the media?
    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 to “avoid the news”. But who ...
    Democracy ProjectBy bryce.edwards
    4 days ago
  • Dead on target
    My targets for today are: 1 newsletter sent out by 4.30pm 800 words of copy delivered to a client by COB, as we say in the world of BAU1 dinner served by sunset GST returnSo far so good. Longer-term targets are: Get some website copy finished before I get on a plane on Saturday ...
    More Than A FeildingBy David Slack
    4 days ago
  • The PM sets nine policy targets- and in case you missed the truancy one, Seymour has provided some...
    Buzz from the Beehive Targets and travel were a theme in the latest flow of ministerial announcements. The PM announced a raft of targets (“nine ambitious Government Targets to help improve the lives of New Zealanders”) along with plans to head for Singapore, Thailand, and Philippines. His Deputy and Foreign ...
    Point of OrderBy Bob Edlin
    4 days ago
  • Climate Change: Unwelcome advice
    Yesterday He Pou a Rangi Climate Change Commission released two key pieces of advice, on the 2036-40 emissions budget and the 2050 target. Both are statutorily required as part of the Zero Carbon Act budgeting / planning process, and both have a round of public consultation before being finalised and ...
    No Right TurnBy Idiot/Savant
    4 days ago
  • In a structural deficit, the only real tax cut is a spending cut
    Eric Crampton writes –  This week’s column in the Stuff papers. A snippet: Tabarrok warned that America had two political parties – “the Tax and Spenders and the No-Tax and Spenders” – and neither was fiscally conservative. In the two decades after Tabarrok’s warning, the federal government ...
    Point of OrderBy poonzteam5443
    4 days ago
  • A Return to Kindness?
    New Zealanders are a pretty fair minded bunch. By and large we like to give people a go.Ian Foster, for example, had a terrible record as a head rugby coach. Like not even good, and did we let that bother us? Yeah, but also Nah. Because we went ahead and ...
    Nick’s KōreroBy Nick Rockel
    4 days ago
  • Aukus or not, New Zealand’s foreign policy is being remade
    Geoffrey Miller writes –  This could be a watershed week for New Zealand’s international relations. Winston Peters, the foreign minister, is heading to Washington DC for a full week of meetings. The surprisingly lengthy trip just happens to coincide with a major trilateral summit of leaders from the United States, ...
    Point of OrderBy poonzteam5443
    4 days ago
  • Back to the future, with a 2032 deadline
    Aiming to look visionary and focused, Luxon has announced nine targets to improve measures for education, health, crime and climate emissions - but the reality is only one target is well above pre-Covid levels. Photo: Lynn Grieveson / The KākāTL;DR: The six news items of note for me in Aotearoa-NZ’s ...
    The KakaBy Bernard Hickey
    4 days ago
  • Why Rod Carr is optimistic farmers can beat climate change
    The future of farming went on the line yesterday when the Climate Change Commission presented its first review of New Zealand’s target of net zero emissions by 2050. The Commission said New Zealand’s target was unlikely to be consistent with the 2015 Paris Agreement goal of holding temperature rise to ...
    PolitikBy Richard Harman
    4 days ago
  • Grifters, Bigots & Booling With the Dawgs
    Hi,I hope you had a good weekend. I was mostly in bed with the worst flu of my life.Today I’m emerging on the other side — and looking forward to what I can catch of the total solar eclipse rippling across parts of America today.Whilst hacking through a cough, I’ve ...
    David FarrierBy David Farrier
    4 days ago
  • Goldsmith spots a cost-saver in his Justice domain – let’s further erode our right (under Magna ...
    Bob Edlin writes – Chapter 39 of the Magna Carta (from memory) includes the guarantee that no free man may suffer punishment without “the lawful judgment of his peers.” This was a measure which the barons forced on England’s King John to delegate part of his judicial authority ...
    Point of OrderBy Bob Edlin
    5 days ago
  • Climate Adam: Is Global Warming Speeding Up?
    This video includes conclusions of the creator climate scientist Dr. Adam Levy. It is presented to our readers as an informed perspective. Please see video description for references (if any). Thanks to climate change, 2023 has shattered heat records, and 2024 is continuing where last year left off. With this devastating ...
    5 days ago
  • Brooke is on the TV, being a Minister!
    Brooke is on the TV, being a Minister! She is going to talk to Jack on the TV!It's hard to watch Jack on the TV without thinking to yourself:How can anyone be that good-looking,and also be even brainier than they are good-looking?Talk about lucky!But also, Jack works for the TV news. So ...
    More Than A FeildingBy David Slack
    5 days ago
  • There’s gold – or rather, energy without carbon – in that rock, but Jones reminds us of the Tr...
    Buzz from the Beehive Oh, dear.  One News tells us an ownership spat is brewing between Māori and the Crown as New Zealand uses more renewable energy sources. No, not water or the shoreline.  Ownership of another resource has come into the reckoning. The One News report explained that 99% of ...
    Point of OrderBy Bob Edlin
    5 days ago
  • Climate Change: Bad faith from National
    One of the weird features of the Zero Carbon Act was its split-gas targets, which separated methane, produced overwhelmingly by farmers, from carbon dioxide produced by the rest of us. This lower target for methane was another effective subsidy to the dairy industry, and was the result of a compromise ...
    No Right TurnBy Idiot/Savant
    5 days ago
  • Gordon Campbell on Israel’s murderous use of AI in Gaza
    This may seem like a dumb question– but how come Israel has managed to kill at least 33,000 Palestinian civilians in Gaza, including over 13,000 children? Of course, saturation aerial bombing and artillery shelling of densely populated civilian neighbourhoods will do that. So will the targeting of children by IDF ...
    Gordon CampbellBy ScoopEditor
    5 days ago
  • Total Eclipse of the Mind.
    All that you touch And all that you seeAll that you taste All you feelAnd all that you love And all that you hateAll you distrust All you saveEarly tomorrow morning as the sun is rising in Aotearoa many people across North America, from Mexico to Canada, will be losing ...
    Nick’s KōreroBy Nick Rockel
    5 days ago
  • So why do that degree… here?
    A report – and discussion – from the university front line… Mike Grimshaw writes – I have been involved in numerous curriculum and degree reviews over the decades and in all of them the question always skirted around is: “If you had to leave now with ...
    Point of OrderBy poonzteam5443
    5 days ago
  • The hunt is on for an asterix for farm emissions
    The Government is setting up its own experts group to review the goalposts for farmers to reduce methane emissions. Photo: Lynn Grieveson / The KākāTL;DR: The six news items of note for me in Aotearoa-NZ’s political economy as of 9:06 am on Monday, April 8 are:The Government is setting up ...
    The KakaBy Bernard Hickey
    5 days ago
  • Geoffrey Miller: Aukus or not, New Zealand’s foreign policy is being remade
    This could be a watershed week for New Zealand’s international relations. Winston Peters, the foreign minister, is heading to Washington DC for a full week of meetings. The surprisingly lengthy trip just happens to coincide with a major trilateral summit of leaders from the United States, Japan and the Philippines. ...
    Democracy ProjectBy Geoffrey Miller
    5 days ago
  • The Kaka’s diary for the week to April 15 and beyond
    TL;DR: The six key events to watch in Aotearoa-NZ’s political economy in the week to April 15 include:PM Christopher Luxon is scheduled to hold a post-Cabinet news conference at 4 pm today. The Climate Commission will publish advice to the Government this evening.Parliament is sitting from Question Time at 2pm ...
    The KakaBy Bernard Hickey
    5 days ago
  • 2024 SkS Weekly Climate Change & Global Warming News Roundup #14
    A listing of 34 news and opinion articles we found interesting and shared on social media during the past week: Sun, March 31, 2024 thru Sat, April 6, 2024. Story of the week Proxy measurement via Facebook "engagement" suggests a widely welcoming audience for Prof. Andrew Dessler's The Climate ...
    5 days ago
  • Their Money or Your Life.
    Brooke van Velden appeared this morning on Q&A, presumably paying homage to Margaret Thatcher. The robotic one had come in an 80s pink, shoulder-padded jacket, much favoured by the likes of Thatcher or Hosking. She also brought the spirit of Margaret, seemingly occupying her previously vacant soul compartment.Jack asked for ...
    Nick’s KōreroBy Nick Rockel
    6 days ago
  • Truth pulls its boots on
    It's a lot easier to pull off a lie if people don't know much about what you're lying about.Sometimes, watching Christopher Luxon, you get the impression he doesn't know all that much about it, either.​​ That's the charitable interpretation. The other is that he knows full well.He was on the ...
    More Than A FeildingBy David Slack
    6 days ago
  • Those of a certain vintage in this country will recognise that as a paraphrasing of the much celebrated Paul Holmes sign-off from his nightly current affairs show, yes, he of the “cheekie darkie” comment infamy (that one aimed at then-UN Chief Kofi Annan, and if unfamiliar with what followed in ...
    exhALANtBy exhalantblog
    6 days ago
  • Are You Missing Kindness Yet?
    In my last newsletter I asked how is Luxon this out of touch? Many of you, quite wisely, don’t do the Twitter thing so I thought I’d share a few of the comments from the cross section of humanity that you encounter there.The comment from Clandesdiner@boglyboohoo, not sure if that’s ...
    Nick’s KōreroBy Nick Rockel
    7 days ago
  • How NZ and Taiwan differ in disaster preparedness
    Peter Dunne writes –  Taiwan and New Zealand are two small island states with much in common. Both are vibrant, independent democracies, living in the shadow of an overbearing neighbour. (Admittedly, Taiwan’s overbearing neighbour has far more aggressive tendencies than our at-times overbearing neighbour!) There is a strong ...
    Point of OrderBy poonzteam5443
    7 days ago
  • Why Shane Jones sunk the Kermadecs Marine Sanctuary
    Bryce Edwards writes – Did vested interests prevent New Zealand from establishing a world-leading environmental marine reserve? There are strong signs that in killing off the proposal for a Kermadec Islands Marine Sanctuary, Shane Jones has been doing the bidding of several industries and groups that he’s closely ...
    Point of OrderBy Bob Edlin
    7 days ago
  • Nearly a month of it
    Hello! There has not been an omnibus for about three weeks because covid and bereavement got in the way.Here’s what you may have missed if you’re not a daily reader.Life’s Little Victories - I think I’ve dodged COVIDTwo Bar Blues - I haven’t Relentlessly Negative - Things seem to be ...
    More Than A FeildingBy David Slack
    1 week ago
  • Coastal court action flies under the radar
    Graham Adams says NZ’s coastline may end up under iwi control. Former Attorney-General and Minister for Treaty of Waitangi Negotiations Chris Finlayson is known for his forthright and sometimes combative language. In 2022, in discussing opposition to co-governance, he referred to “the sour right” and “the KKK brigade”. Last week, in ...
    Point of OrderBy gadams1000
    1 week ago
  • Does a Fiscal Debt Target Make Sense?
    Do we treat the government finances with the common sense that household’s manage theirs?It is a commonly held view that we should treat the government as if it is a prudent household. We don’t when it comes to its debt. Currently the government says it wants to constrain its net ...
    PunditBy Brian Easton
    1 week ago
  • Bryce Edwards: Why Shane Jones sunk the Kermadecs Marine Sanctuary
    Did vested interests prevent New Zealand from establishing a world-leading environmental marine reserve? There are strong signs that in killing off the proposal for a Kermadec Islands Marine Sanctuary, Shane Jones has been doing the bidding of several industries and groups that he’s closely connected with. As Oceans and Fisheries ...
    Democracy ProjectBy bryce.edwards
    1 week ago
  • Climate Change: Spite destroys success
    The clean car discount was a real policy success in pushing electrification of transport. It worked so well that EV adoption was running five years ahead of the Climate Commission's targets, giving us a real shot at decarbonising light transport. National killed it out of pure spite. And as expected, ...
    No Right TurnBy Idiot/Savant
    1 week ago

  • Huge interest in Government’s infrastructure plans
    Hundreds 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 ...
    BeehiveBy beehive.govt.nz
    15 hours ago
  • Health Minister thanks outgoing Health New Zealand Chair
    Health 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 ...
    BeehiveBy beehive.govt.nz
    16 hours ago
  • Roads of National Significance planning underway
    The 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 ...
    BeehiveBy beehive.govt.nz
    19 hours ago
  • Navigating an unstable global environment
    New 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 ...
    BeehiveBy beehive.govt.nz
    19 hours ago
  • NZ welcomes Australian Governor-General
    Prime 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 ...
    BeehiveBy beehive.govt.nz
    20 hours ago
  • Pseudoephedrine back on shelves for Winter
    Associate 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 ...
    BeehiveBy beehive.govt.nz
    22 hours ago
  • NZ and the US: an ever closer partnership
    New 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 ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Joint US and NZ declaration
    April 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 ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • NZ and US to undertake further practical Pacific cooperation
    Foreign 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 ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Government redress for Te Korowai o Wainuiārua
    The 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 ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Focus on outstanding minerals permit applications
    New 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 ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Applications open for NZ-Ireland Research Call
    The 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 ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Tenancy rules changes to improve rental market
    The 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 ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Boosting NZ’s trade and agricultural relationship with China
    Trade 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 ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Freshwater farm plan systems to be improved
    The 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 ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • New Fast Track Projects advisory group named
    The 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 ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Pacific and Gaza focus of UN talks
    Foreign 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 ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Government honours Taranaki Maunga deal
    The 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 ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Enhanced partnership to reduce agricultural emissions
    The 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 ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • 110km/h limit proposed for Kāpiti Expressway
    Transport 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 ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • New Zealand Biosecurity Awards – Winners announced
    Two 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 ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Attendance action plan to lift student attendance rates
    The 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 ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • World must act to halt Gaza catastrophe – Peters
    Foreign 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 ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Speech to United Nations General Assembly: 66th plenary meeting, 78th session
    Mr 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 ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Government woolshed roadshow kicks off
    Today 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 ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • PM heads to Singapore, Thailand, and Philippines
    Prime 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 ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Prime Minister launches Government Targets
    Prime 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, ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Natural hydrogen resource should be free of Treaty claims entanglement
    Natural 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, ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Government responds to unsustainable net migration
    ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • New Zealand on stage at global Space Symposium
    Space 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 ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • $4.9m project completed with marae reopening
    A significant marae has reopened in the heart of Rotorua marking the end of renovations for the Ruatāhuna Marae Renovation Cluster, a project that provided much-needed jobs and regional economic stimulus, Regional Development Minister Shane Jones says. Mr Jones was at the official reopening of Mātaatua ki Rotorua Marae today. ...
    BeehiveBy beehive.govt.nz
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