National Debt cracks the ton

Written By: - Date published: 12:20 pm, July 20th, 2015 - 62 comments
Categories: debt / deficit, economy, Economy, national, national/act government, same old national - Tags:

National debt

62 comments on “National Debt cracks the ton ”

  1. G C 1

    The borrower is slave to the lender. Sooo… …who are our ‘Task Masters’?

    • Keith 1.1

      When National said “A Brighter Future” they weren’t lying. But what they meant was it was for banks and overseas creditors, that are by pure coincidence Keys old buddies!

  2. Colonial Rawshark 2

    The NZ Government chooses to source its NZ dollars by borrowing from overseas. As a currency sovereign it could simply decide to issue those NZ dollars to itself, at no interest charge.

    • Clean_power 2.1

      No Nobel Prize of Economics coming your way, CR. You would change New Zealand into a Zimbwawe in no time at all.

      • Crashcart 2.1.1

        You do realise that every day Banks in NZ use fractional reserve banking to create money that didn’t exist mere moments before?

        The government needs to remove the ability for the banks to create money for free and make them borrow it from the government at a set interest rate. That will give the value to the money that the goverment prints.

        • Jackp 2.1.1.1

          Look what happened to Abraham Lincoln, President McKinley, and John F Kennedy. Well, Mckinley was going to but the other two had the government print the money and give it out to the banks. After Kennedy was killed, 4 billion was taken out of circulation. Why would we just ask a bank to print money and charge interest out of thin air? It’s madness. An economy can’t run on a borrowed system. It’s better the government control the money rather than the banks. We’re seeing the results when the banks economically control the government.

      • maui 2.1.2

        Quantitative easing is also being done by the US, European Central Bank and Japan, want to call them out for creating Zimbabwe like conditions too and creating an inevitable economic disaster?

        • Lanthanide 2.1.2.1

          Big countries play by different rules.

          • Colonial Rawshark 2.1.2.1.1

            And Switzerland? Are they a “big country” too? How about Singapore? Another “big country” which is happy to directly intervene in the market for its own currency?

            Or is it simply that as Kiwis, we have never bothered to figure out a smart niche to occupy in the world economic system, and we keep making excuses for why we cannot?

      • Colonial Rawshark 2.1.3

        No Nobel Prize of Economics coming your way, CR. You would change New Zealand into a Zimbwawe in no time at all.

        Huh? What are you talking about? Zimbabwe has nothing to do with what I am suggesting. Which is to issue a NZ dollar at no interest, instead of borrowing one from China and being charged interest.

      • Jones 2.1.4

        There is nothing wrong with a Government creating the money supply. They are, after all, the representatives of the commonwealth of the people. It depends on where the money is spent and other policies around it, such as allowing banks to continue with fractional-reserve lending.

        • Draco T Bastard 2.1.4.1

          +1

        • Colonial Rawshark 2.1.4.2

          Yep, investment in productive capacity, useful economic infrastructure, and the wellbeing of the people will pay back massive dividends over time.

      • Draco T Bastard 2.1.5

        Not according to the IMF. In fact, it seems that it would stabilise the economy and bring prosperity – the exact opposite of what we have now with the private banks creating money without restrictions.

    • dukeofurl 2.2

      Where do you get info that it sources its debt overseas ?

      My understanding is that it uses the $NZ

      Could it be that the idea of a computer making up the numbers overnight doesnt happen here

      • Colonial Rawshark 2.2.1

        That is the crazy thing

        We sell NZD denominated debt offshore eg

        This will be of concern to Finance Minister Bill English who is poised to begin a visit to China. English was in Beijing recently for the signing ceremony to launch the China-led Asian Infrastructure Investment Bank.

        English and Treasury Secretary Gabriel Makhlouf, who is also on the trip, will be aware that if the instability spills over it could also impact on the NZ economy.

        The Chinese Government is a significant buyer of NZ Government bonds.

        http://m.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11477810

    • Smilin 2.3

      And bury Rio Tinto would help my power bill but they will probably find another way to milk the continuing power price hikes
      We might have half a chance of creating our own currency instead of this Fed sanctioned crap we live with, Dreams and Aspirations, can we get so people with their feet on the ground or are we doomed to walk on the moon?
      If we cut the advertising slush fund we might find our currency has some weight and real value cos thats about all this govt has done, False Advertising

  3. her 3

    And that is how you get a corner office when you go back to the banking industry.

  4. keyman 4

    does anyone know the total NZ debt including government debt some told me its a basket case

    • dukeofurl 4.1

      Not if it owns an asset. Most NZ domestic bank debt is secured by an asset ( except credit cards)

      • Colonial Rawshark 4.1.1

        in a financial crisis the value of those “assets” will deteriorate quickly, and remember there is a reason why those assets are called “collateral” by the bank. Dairy farmers are realising that now.

      • Jones 4.1.2

        I think it depends on the asset they are securing against.

        • dukeofurl 4.1.2.1

          Dairy farmers would be land mostly. Not sure about dairy cows but maybe up 50% of cow value.
          National is going to ‘socialise the losses’ for dairy farmers before the next election the way things are going. Especially if Winston pulls on his gumboots

      • Brutus Iscariot 4.1.3

        New Zealand Government debt is backed by the ultimate asset – the ability to raise money through taxation.

        Aside from that, CV’s analysis is simplistic.

        The government raises debt at auctions in which parties bid down to lend money to the Crown. There often isn’t enough capital solely in New Zealand to fund the government’s operating requirements. Unless, as you say, the Reserve Bank straight up bought all the debt that the government incurred and straight up extinguished it by printing the money. Depending on the level of the debt, down that route is inflation and massive currency depreciation.

        The commercial banks are a separate issue. They source a lot of their money offshore cheaply. The margin between those interest rates and the rates they then lend out at is quite juicy. They have to pay more to borrow from NZ depositholders (and let’s never forget that a bank deposit is a loan to the bank).

        • crashcart 4.1.3.1

          Actually the last part of your stamenet is incorrect. When you deposit your money it is no longer yours. You are trading it for an asset in teh form af a bank account. The money you deposit becomes the property of the bank. Fractional reserve means they have to maintain a percentage of the initial deposit to secure against the asset that is the account which counts as a liability on thier books. However if $100 is deposited the bank can lend out $80. Often that $80 is deposited straight back into the bank in the accoutn of another person. This of course means the bank can again lend out 80% of that deposit.

          https://en.wikipedia.org/wiki/Fractional-reserve_banking

    • Colonial Rawshark 4.2

      NZ household debt is approx $150B

      • RedLogix 4.2.1

        So lets estimate total Debt at $250b this means Total Debt to GDP at about 100%. (And that may not be including all debt.)

        In order to repay all this – over say 20 years – this implies roughly a 5% hit on GDP (ie permanent depression) for at least that period.

        And given that no govt could survive such fiscal policy for such a period – my conclusion is that it will never be repaid.

        In other words we are no better off than Greece.

        • dv 4.2.1.1

          And the interest payments are in the order of 10Billion for both debts
          or about $2500 for each person.

        • Lanthanide 4.2.1.2

          Anyone that thinks any local council in NZ will ever repay their debt back is a fool.

          They’re all insolvent.

          • maui 4.2.1.2.1

            +1, that’s important to remember too. We’re a debt based economy and probably sooner rather than later it’s all going to go pear-shaped. When our Government and local Government both go bankrupt many people are going to be screaming hallelujah! Amidst the chaos.

        • tinfoilhat 4.2.1.3

          While there’s no doubt that the present government are poor managers of the economy we are not in quite as bad a state as Greece.

          One of my colleagues at school showed me this site which illustrates what a fiscal shambles the world is in.

          http://www.nationaldebtclocks.org

          • Colonial Rawshark 4.2.1.3.1

            that’s because the bankers have ensured that each and very modern country accesses its monies through debt owed to the banks.

            • tinfoilhat 4.2.1.3.1.1

              Quite, I was interested to see that Japan’s debt at the moment is seriously out of control………..too big to fail ?

              • Colonial Rawshark

                Japan has a lot of problems, and the Bank of Japan is printing money at an insane rate to try and compensate. Yet wages and economic activity keep on stagnating.

                • mikesh

                  I think Japan and the US are desperately battling deflation, which they see as an even greater evil than inflation.

                  • Colonial Viper

                    Indeed. The wages of ordinary Kiwi workers are experiencing serious deflation as well.

                • Ron

                  Well Japan may soon be allowed to fight overseas again. If I was China I would be a little worried. A war is always good for the economy right?

                  • Colonial Viper

                    Japan has been facing bad economic news for years. And their situation is getting worse as their population ages and shrinks. Their politicians need a boost. And the USA needs an Anti-China to help balance out the rising regional strength of the Chinese. Win/win, from the western colonial stand point.

        • Phil 4.2.1.4

          my conclusion is that it will never be repaid.

          How may people do you know who used to have a mortgage and then paid it off?
          Compare that to the number of people you know who used to have a mortgage, but defaulted and lost the house.

          • Colonial Viper 4.2.1.4.1

            Do those mortgage holders you talk about keep taking more money out on tick every year their house valuation goes up?

          • RedLogix 4.2.1.4.2

            Making flawed comparisons between the behaviour of individuals and whole economies is a pretty common mistake Phil.

            But to address your point directly – increasingly people are arriving at retirement age with considerable mortgage debt and are relying on either down-sizing or selling off investment assets to remain cash flow positive.

            • John Shears 4.2.1.4.2.1

              Maybe but not all, some like my wife and I no longer own a house and live in a retirement village. We have no mortgage and have not had one for the last 25 or so years.

              We have owned 7 houses all family homes. The first was bought using the Family Benefit capitalisation scheme,we had 3 children, an interest only loan for 5 years and a bank overdraft it wasn’t easy but it worked.

              We bought our first house in the late 1950’s when the home ownership was the low and the Govt. of the day , National, recognised that they needed to help young couples own their dwelling.
              The present lot can’t see that. yet they are also National.

          • Crashcart 4.2.1.4.3

            It doesn’t help that when you do have a mortgage you seem to get regular phone calls from people who know you by name and know you own property who can get you into an investment property for no deposit what so ever just using the equity in your home.

            Bring on the debt go round.

  5. mikesh 5

    A cash injection is a cash injection, and will be just as inflationary if it comes from overseas as it would be if it came off the RB’s printing press.

    • Colonial Rawshark 5.1

      exactly

      but it will not be inflationary if the economy has plenty of competitive, productive capacity to spare (and with 250,000 unemployed and under employed people, that is certainly the case here in NZ)

    • Stuart Munro 5.2

      It depends where it goes – foreign capital that builds new capacity doesn’t cause much inflation. Foreign capital that enters the housing bubble does.

      Treasury is like a 7 year-old’s joke: When is capital not inflationary? When we don’t include housing bubbles in our stats.

  6. Atiawa 6

    Since becoming the government “borrow & hope” is the one policy that hasn’t been made up along the way.
    Credit where credit is due eh!

  7. upnorth 7

    Stats NZ says only 39.5% of GDP which is very good in real terms – but our lowest has been 17% in 2007 but that was a very shonky number back then as ACC was reported as $7B in assets was was no where near.

    The data hub being used above is poor analysis because the debt has reduced over the last few years – I am really sorry but this data is about useful as the last name basis for property in Auckland.

    I think it is best to use treasury data and not some spin the wheel forecast projection.

    I think you have to seriously back out the CHCH rebuild.

    I am more worried about private debt rather than govt debt because govt debt by our own standards and international standards is in a good space.

    happy to be referred to other reports (no links just titles please) dont want to get in trouble with the Mod)

    • Colonial Viper 7.1

      perceptive – private debt is by far the most dangerous to an economy

    • dukeofurl 7.2

      “very shonky number back then as ACC was reported as $7B in assets was was no where near.”

      Now ACC assets are $25 billion.

      That makes it highly likely the 2007 figure was very conservative at $7B, you dont triple it in 6 years any other way.
      After all the GFC reduced global asset values sharply , but those who held good value assets recovered fairly quickly, probably to their true value of over $15B.

      THose in the know about then ACC Minister Nick- What happened to my vacant land- Smith claim about the big hole in ACCs accounts can disregard it as the musings of a clueless dropkick

    • Pat 7.3

      the two have to be considered in tandem….if government debt is secured by the ability to realise tax and the private debt is secured by tangible assets (i.e farms and houses) then if either suffers a serious setback it significantly and negatively impacts the other.

  8. b waghorn 8

    http://m.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11468289
    Clear as mud to me but might make sense to some here

  9. Smilin 9

    TRUE CONSERVATIVE GOVT you save in prosperous times instead of givin 7 billion to the rich and crow about a Rockstar economy which is generally crash and burn except for those who have been at it longer than Key has been out of nappies cos he probably nearly shat himself when he was 7
    What a bunch of idiots we are to allow this 9/11 financial austerity crap to lie to us about what we have for a PM
    A Right wing yuppie creamer of the honesty of the masses labour,and the nations wealth for the benefit of Mr Kite and a corrupt democracy in short
    The show must go on but who pays ?

  10. Keith 10

    Is this what it takes to be a “Rockstar” economy?

  11. Mike 11

    Huh?

    Gross debt in the most recent government financial statements was around $85.7b, net debt (which is a fairer measure) is around $60b

    And if you’re including private debt in the ‘national debt’, thats about another $250b or so

  12. Dave_1924 12

    Yip its really bad, time to cut government spending… must be 5% they can trim off and put to debt repayment surely…

    • Colonial Viper 12.1

      that would destroy money out of the economy and worsen the coming dairy recession

  13. Mike the Savage One 13

    Which is relevant and which is true? Perhaps it is not as bad as the post suggests, so far at least:

    http://www.nationaldebtclocks.org/debtclock/newzealand

    http://www.radionz.co.nz/national/programmes/insight/audio/201761887/insight-for-12-july-2015-future-financial-stability

    http://countryeconomy.com/national-debt/new-zealand

    https://en.wikipedia.org/wiki/Economy_of_New_Zealand

    Remember Key in 2011:
    http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10765329

    It is not government debt we should be worried about, but private debt:

    http://www.stuff.co.nz/business/money/67032939/Mortgage-debt-tops-200-billion

    http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10887784

    http://www.radionz.co.nz/news/national/271558/thousands-face-student-loan-ruin-tax-adviser

    But who cares, we can always sell real estate, our skills and work and services, for the future, as so many have, being tenants and servants in our own country, let us “party” on, John. That is the partying of the top percentages at the expense of the rest of us I presume.

  14. Sable 14

    Watch out for tax creep as we all end up paying for years of economic mismanagement by National and Labour…..

Recent Comments

Recent Posts

  • Government invests in 1,500 more social homes
    The coalition Government is investing in social housing for New Zealanders who are most in need of a warm dry home, Housing Minister Chris Bishop says. Budget 2024 will allocate $140 million in new funding for 1,500 new social housing places to be provided by Community Housing Providers (CHPs), not ...
    BeehiveBy beehive.govt.nz
    14 hours ago
  • $24 million boost for Gumboot Friday
    Thousands more young New Zealanders will have better access to mental health services as the Government delivers on its commitment to fund the Gumboot Friday initiative, says Deputy Prime Minister Winston Peters and Mental Health Minister Matt Doocey.  “Budget 2024 will provide $24 million over four years to contract the ...
    BeehiveBy beehive.govt.nz
    18 hours ago
  • Residential Tenancies Amendment Bill passes first reading
    The Coalition Government’s Residential Tenancies Amendment Bill, which will improve tenancy laws and help increase the supply of rental properties, has passed its first reading in Parliament says Housing Minister Chris Bishop. “The Bill proposes much-needed changes to the Residential Tenancies Act 1986 that will remove barriers to increasing private ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Montecassino Commemorative Address, Cassino War Cemetery
    Standing here in Cassino War Cemetery, among the graves looking up at the beautiful Abbey of Montecassino, it is hard to imagine the utter devastation left behind by the battles which ended here in May 1944. Hundreds of thousands of shells and bombs of every description left nothing but piled ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • First Reading – Repeal of Section 7AA of the Oranga Tamariki Act 1989
    I present a legislative statement on the Oranga Tamariki (Repeal of Section 7AA) Amendment Bill Mr. Speaker, I move that the Oranga Tamariki (Repeal of Section 7AA) Amendment Bill be now read a first time. I nominate the Social Services and Community Committee to consider the Bill. Thank you, Mr. ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • First reading of 7AA’s repeal: progress for children
    The Bill to repeal Section 7AA of the Oranga Tamariki Act has had its first reading in Parliament today. The Bill reaffirms the Coalition Government’s commitment to the care and safety of children in care, says Minister for Children Karen Chhour.  “When I became the Minister for Children, I made ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • China Business Summit 2024
    Kia ora koutou, good morning, and zao shang hao. Thank you Fran for the opportunity to speak at the 2024 China Business Summit – it’s great to be here today. I’d also like to acknowledge: Simon Bridges - CEO of the Auckland Chamber of Commerce. His Excellency Ambassador - Wang ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Assisted depatures from New Caledonia
    Foreign Minister Winston Peters has confirmed a New Zealand Government plane will head to New Caledonia in the next hour in the first in a series of proposed flights to begin bringing New Zealanders home.    “New Zealanders in New Caledonia have faced a challenging few days - and bringing ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Assisted departures from New Caledonia
    Foreign Minister Winston Peters has confirmed a New Zealand Government plane will head to New Caledonia in the next hour in the first in a series of proposed flights to begin bringing New Zealanders home.  “New Zealanders in New Caledonia have faced a challenging few days - and bringing them ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Government to rollout roadside drug testing
    The Coalition Government will introduce legislation this year that will enable roadside drug testing as part of our commitment to improve road safety and restore law and order, Transport Minister Simeon Brown says.  “Alcohol and drugs are the number one contributing factor in fatal road crashes in New Zealand. In ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Minister responds to review of Kāinga Ora
    The Government has announced a series of immediate actions in response to the independent review of Kāinga Ora – Homes and Communities, Housing Minister Chris Bishop says. “Kāinga Ora is a large and important Crown entity, with assets of $45 billion and over $2.5 billion of expenditure each year. It ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Pseudoephedrine back on shelves
    Associate Health Minister David Seymour is pleased that Pseudoephedrine can now be purchased by the general public to protect them from winter illness, after the coalition government worked swiftly to change the law and oversaw a fast approval process by Medsafe. “Pharmacies are now putting the medicines back on their ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • New Zealand-China Business Summit
    Tēnā koutou katoa. Da jia hao.  Good morning everyone.   Prime Minister Luxon, your excellency, a great friend of New Zealand and my friend Ambassador Wang, Mayor of what he tells me is the best city in New Zealand, Wayne Brown, the highly respected Fran O’Sullivan, Champion of the Auckland business ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • New measures to protect powerlines from trees
    Energy Minister Simeon Brown has announced that the Government will make it easier for lines firms to take action to remove vegetation from obstructing local powerlines. The change will ensure greater security of electricity supply in local communities, particularly during severe weather events.  “Trees or parts of trees falling on ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Wairarapa Moana ki Pouakani win top Māori dairy farming award
    Wairarapa Moana ki Pouakani were the top winners at this year’s Ahuwhenua Trophy awards recognising the best in Māori dairy farming. Māori Development Minister Tama Potaka announced the winners and congratulated runners-up, Whakatōhea Māori Trust Board, at an awards celebration also attended by Prime Minister Christopher Luxon and Finance Minister ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • DJ Fred Again – Assurance report received
    "On the 27th of March, I sought assurances from the Chief Executive, Department of Internal Affairs, that the Department’s correct processes and policies had been followed in regards to a passport application which received media attention,” says Minister of Internal Affairs Brooke van Velden.  “I raised my concerns after being ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • District Court Judges appointed
    Attorney-General Judith Collins has announced the appointment of three new District Court Judges, to replace Judges who have recently retired. Peter James Davey of Auckland has been appointed a District Court Judge with a jury jurisdiction to be based at Whangarei. Mr Davey initially started work as a law clerk/solicitor with ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Unions should put learning ahead of ideology
    Associate Education Minister David Seymour is calling on the Post Primary Teachers’ Association (PPTA) to put ideology to the side and focus on students’ learning, in reaction to the union holding paid teacher meetings across New Zealand about charter schools.     “The PPTA is disrupting schools up and down the ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Craig Stobo appointed as chair of FMA
    Commerce and Consumer Affairs Minister Andrew Bayly today announced the appointment of Craig Stobo as the new chair of the Financial Markets Authority (FMA). Mr Stobo takes over from Mark Todd, whose term expired at the end of April. Mr Stobo’s appointment is for a five-year term. “The FMA plays ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Budget 2024 invests in lifeguards and coastguard
    Surf Life Saving New Zealand and Coastguard New Zealand will continue to be able to keep people safe in, on, and around the water following a funding boost of $63.644 million over four years, Transport Minister Simeon Brown and Associate Transport Minister Matt Doocey say. “Heading to the beach for ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • New Zealand and Tuvalu reaffirm close relationship
    New Zealand and Tuvalu have reaffirmed their close relationship, Foreign Affairs Minister Winston Peters says.  “New Zealand is committed to working with Tuvalu on a shared vision of resilience, prosperity and security, in close concert with Australia,” says Mr Peters, who last visited Tuvalu in 2019.  “It is my pleasure ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • New Zealand calls for calm, constructive dialogue in New Caledonia
    New Zealand is gravely concerned about the situation in New Caledonia, Foreign Minister Winston Peters says.  “The escalating situation and violent protests in Nouméa are of serious concern across the Pacific Islands region,” Mr Peters says.  “The immediate priority must be for all sides to take steps to de-escalate the ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • New Zealand welcomes Samoa Head of State
    Prime Minister Christopher Luxon met today with Samoa’s O le Ao o le Malo, Afioga Tuimalealiifano Vaaletoa Sualauvi II, who is making a State Visit to New Zealand. “His Highness and I reflected on our two countries’ extensive community links, with Samoan–New Zealanders contributing to all areas of our national ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Island Direct eligible for SuperGold Card funding
    Transport Minister Simeon Brown has announced that he has approved Waiheke Island ferry operator Island Direct to be eligible for SuperGold Card funding, paving the way for a commercial agreement to bring the operator into the scheme. “Island Direct started operating in November 2023, offering an additional option for people ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Further sanctions against Russia
    Foreign Minister Winston Peters today announced further sanctions on 28 individuals and 14 entities providing military and strategic support for Russia’s invasion of Ukraine.  “Russia is directly supported by its military-industrial complex in its illegal aggression against Ukraine, attacking its sovereignty and territorial integrity. New Zealand condemns all entities and ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • One year on from Loafers Lodge
    A year on from the tragedy at Loafers Lodge, the Government is working hard to improve building fire safety, Building and Construction Minister Chris Penk says. “I want to share my sincere condolences with the families and friends of the victims on the anniversary of the tragic fire at Loafers ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Pre-Budget speech to Auckland Business Chamber
    Ka nui te mihi kia koutou. Kia ora and good afternoon, everyone. Thank you so much for having me here in the lead up to my Government’s first Budget. Before I get started can I acknowledge: Simon Bridges – Auckland Business Chamber CEO. Steve Jurkovich – Kiwibank CEO. Kids born ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • New Zealand and Vanuatu to deepen collaboration
    New Zealand and Vanuatu will enhance collaboration on issues of mutual interest, Foreign Minister Winston Peters says.    “It is important to return to Port Vila this week with a broad, high-level political delegation which demonstrates our deep commitment to New Zealand’s relationship with Vanuatu,” Mr Peters says.    “This ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Penk travels to Peru for trade meetings
    Minister for Land Information, Chris Penk will travel to Peru this week to represent New Zealand at a meeting of trade ministers from the Asia-Pacific region on behalf of Trade Minister Todd McClay. The annual Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade meeting will be held on 17-18 May ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Minister attends global education conferences
    Minister of Education Erica Stanford will head to the United Kingdom this week to participate in the 22nd Conference of Commonwealth Education Ministers (CCEM) and the 2024 Education World Forum (EWF). “I am looking forward to sharing this Government’s education priorities, such as introducing a knowledge-rich curriculum, implementing an evidence-based ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Education Minister thanks outgoing NZQA Chair
    Minister of Education Erica Stanford has today thanked outgoing New Zealand Qualifications Authority Chair, Hon Tracey Martin. “Tracey Martin tendered her resignation late last month in order to take up a new role,” Ms Stanford says. Ms Martin will relinquish the role of Chair on 10 May and current Deputy ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Joint statement of Christopher Luxon and Emmanuel Macron: Launch of the Christchurch Call Foundation
    New Zealand Prime Minister Christopher Luxon and President Emmanuel Macron of France today announced a new non-governmental organisation, the Christchurch Call Foundation, to coordinate the Christchurch Call’s work to eliminate terrorist and violent extremist content online.   This change gives effect to the outcomes of the November 2023 Call Leaders’ Summit, ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Panel announced for review into disability services
    Distinguished public servant and former diplomat Sir Maarten Wevers will lead the independent review into the disability support services administered by the Ministry of Disabled People – Whaikaha. The review was announced by Disability Issues Minister Louise Upston a fortnight ago to examine what could be done to strengthen the ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Minister welcomes Police gang unit
    Today’s announcement by Police Commissioner Andrew Coster of a National Gang Unit and district Gang Disruption Units will help deliver on the coalition Government’s pledge to restore law and order and crack down on criminal gangs, Police Minister Mark Mitchell says. “The National Gang Unit and Gang Disruption Units will ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • New Zealand expresses regret at North Korea’s aggressive rhetoric
    Foreign Minister Winston Peters has today expressed regret at North Korea’s aggressive rhetoric towards New Zealand and its international partners.  “New Zealand proudly stands with the international community in upholding the rules-based order through its monitoring and surveillance deployments, which it has been regularly doing alongside partners since 2018,” Mr ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • New Chief of Defence Force appointed
    Air Vice-Marshal Tony Davies MNZM is the new Chief of Defence Force, Defence Minister Judith Collins announced today. The Chief of Defence Force commands the Navy, Army and Air Force and is the principal military advisor to the Defence Minister and other Ministers with relevant portfolio responsibilities in the defence ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Government puts children first by repealing 7AA
    Legislation to repeal section 7AA of the Oranga Tamariki Act has been introduced to Parliament. The Bill’s introduction reaffirms the Coalition Government’s commitment to the safety of children in care, says Minister for Children, Karen Chhour. “While section 7AA was introduced with good intentions, it creates a conflict for Oranga ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Defence Minister to meet counterparts in UK, Italy
    Defence Minister Judith Collins will this week travel to the UK and Italy to meet with her defence counterparts, and to attend Battles of Cassino commemorations. “I am humbled to be able to represent the New Zealand Government in Italy at the commemorations for the 80th anniversary of what was ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Charter schools to lift educational outcomes
    The upcoming Budget will include funding for up to 50 charter schools to help lift declining educational performance, Associate Education Minister David Seymour announced today. $153 million in new funding will be provided over four years to establish and operate up to 15 new charter schools and convert 35 state ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • COVID-19 Inquiry terms of reference consultation results received
    “The results of the public consultation on the terms of reference for the Royal Commission into COVID-19 Lessons has now been received, with results indicating over 13,000 submissions were made from members of the public,” Internal Affairs Minister Brooke van Velden says. “We heard feedback about the extended lockdowns in ...
    BeehiveBy beehive.govt.nz
    1 week ago

Page generated in The Standard by Wordpress at 2024-05-22T15:34:26+00:00