web analytics

Of train sets and stuffed companies

Written By: - Date published: 8:52 am, April 6th, 2011 - 29 comments
Categories: accountability, bill english, business, john key - Tags: , ,

Before the last election the usual right wing spinsters tried to paint Labour as financially incompetent for buying back KiwiRail. Never mind that we had to rescue this vital piece of infrastructure from oblivion. Never mind that spending on KiwiRail became part of the stimulus package which the Nats proudly claimed as their own response to the recession. Never mind that any sane government would be making rail (and light rail in Auckland and Christchurch) a centrepiece of their planning for a post-oil economy. Never mind all that, the purchase was to be mocked at all costs, and KiwiRail saddled with the image of a child’s plaything, a mere “train set”.

All those right wing knockers are strangely silent now that their own National government has thrown away almost twice the cost of KiwiRail on a stuffed company. The saga of South Canterbury Finance just keeps getting worse and worse:

SCF insider loans push bill up by $300m

Insider loans? Sounds a bit like insider trading doesn’t it. Say – isn’t insider trading illegal?

The taxpayers’ bill for the South Canterbury Finance failure rose by a further $300 million to $1.2 billion yesterday as a result of loans to company insiders going sour – and Prime Minister John Key is unable to rule out a further blowout.

Unable to rule out a further blowout? Well that’s what you get for writing a blank cheque to a failing organisation. You’d have thought an ex money trader might have been able to work that one out.

“Overall, we now expect a net loss from the Retail Deposit Guarantee Scheme of around $1.2 billion, compared with earlier estimates of around $900 million,” said Mr English. Mr Key emphasised the shortfall in recoveries related to South Canterbury’s loans to “related party” borrowers. That includes the company’s management as well as friends and associates of Mr Hubbard.

Why? Why did the Nats ignore repeated warnings and sign SCF up for the Guarantee Scheme? Why did they write a blank cheque from we the taxpayers to bail out SCF “insiders”? In this time of so many financial challenges and needs, why has New Zealand spent $1.2 Billion (and climbing) on a stuffed company?

29 comments on “Of train sets and stuffed companies”

  1. rd 1

    Lost soul blog has had a lot to say in detail about SCF
    Here is his latest comment
    http://www.lostsoulblog.com/2011/03/crowns-kid-gloves-for-scf-directors.html

    Back in March Chris Lee had this to say about the SCF

    Whatever the cause of SCF’s cancer, it is now obvious to everyone that the company disguised the idiotic lending to some of New Zealand’s most notorious serial defaulters, it disguised its related party loans, even using the brother-in-law of a director as a nominee, and it blundered terribly when it put its recovery into the hands of sharebrokers Forsyth Barr and Samford (Sandy) Maier Junior.

    Here is a link to the fuller comment

    http://www.chrislee.co.nz/index.php?page=newsletter-display&list=2&month=March&year=2011

    There was a lot known about SCF in the last two years.
    Both Chris Lee and Lost Soul have written much more about SCF in the last two years.

  2. freedom 2

    for an answer cue Tom Jones
    Why? Why? Why?  They’re liars

  3. RedLogix 3

    Calling burt… come in burt.
     
    I’ve got a train set that gets me to work most days… what have you got for your bailout?
     
    Tell me again burt how surely the only way out of this mess is bigger tax cuts… for the wealthy. After all we’ve just given a whole fistful of public monies to them, so it makes no sense to tax it back off them… that would be theft after all!!!

  4. Oleolebiscuitbarrell 4

    Insider loans? Sounds a bit like insider trading doesn’t it. Say – isn’t insider trading illegal?

    Intersection.  Sounds a bit like “sex”.  Sounds a bit like “sex crime”.  Say – aren’t sex crimes illegal?

    • RedLogix 4.1

      Oh good… so that makes it alright then?
       
      Just come out and say it… that you fully support and approve of this govt bailing out insider loans and transactions to save the arses of a bunch of related insider parties. Or not.

      • higherstandard 4.1.1

        The SFO, which I believe is a government department, is currently investigating SCF

        “SFO has announced that it has commenced an investigation in relation to related party transactions which we consider may have been a fraud on the investors in SCF and/or the Crown as the guarantor of investor funds. Given the scale of the SCF collapse, the investigation will not attempt to carry out an investigation into all aspects of the failure.”

        This will be very interesting to keep a watching brief on.

      • Oleolebiscuitbarrell 4.1.2

        Not.

        I was against it when Labour brought in the scheme.  I was against it when the first claims were paid to institutions under the scheme as instituted by Labour.  I don’t remember any bleating then that Labour had set the scheme up to look after its rich mates.

        I was simply pointing out that it is just ridiculous to suggest that something is automatically illegal because it sounds a bit like something else that is illegal.  Using this logic Joanna Lumley would be a really good rugby union football winger because her name sounds a bit like Jonah Lomu.

        • r0b 4.1.2.1

          I wasn’t suggesting it was illegal.  I was suggesting that it is damn close to something that is illegal.  I was certainly suggesting moral “guilt by association” with similar acts that are criminal.

          Interesting that the SFO is investigating, no?

          • Oleolebiscuitbarrell 4.1.2.1.1

            ..and I hope they get nailed.  It seems to be common feature of just about all of these finance company collapses that they lent money to entities related to certain of the directors or shareholders on unusual terms.

            Trustees and independent directors should be worried.

            • wtl 4.1.2.1.1.1

              I’m sure even if they are found guilty they’ll just get a few months of home detention.

        • RedLogix 4.1.2.2

          I was against it when Labour brought in the scheme

          So was Labour. If you recall the scheme was merely a copy of exactly what govts all over the world were doing in a desperate response to a massive collapse in confidence in the financial sector. In essence these parasitic bastards put a gun to the head of govts everywhere and said… ‘bail us out or we take you down with us’.

          I clearly recall Michael Cullen telling Kathryn Ryan on RNZ at the time ( you know back in the days when Ministers regularaly fronted up to serious media) that he was very concerned about having to do this, but unless he did there would be a massive run on our banks and finance companies that could collapse the economy overnight.

          He very clearly went on to say that the whole scheme would most certainly have ‘perverse effects around the margins’. His exact words. He foresaw exactly the kind of problems that could so easily arise if the govt didn’t stay on top of matters.

          Which this govt has demonstrably failed to do.  Blaming Labour for the scheme’s existence is just a transparent diversion.

          • Herodotus 4.1.2.2.1

            RL not all govts bailed out finacial institutions – Iceland allowed market forces to do the natural culling of dead wood. It was painful for the economy – but Iceland is now free from this cancer. All the other traditional western countries are still battling over the legacy of the bailouts, and the actions of these coys leaves a very foul taste in the mouth, especially when bonuses are reported based on record profits. Andf the month after the tax surcharge was removed in G.B. massive bonuses were paid out. Funny that, oh how shortsighted some govts are, they sold us all down the river.
            http://www.zacks.com/stock/news/50608/Goldman+Doubles+CEO+Package
            http://www.guardian.co.uk/business/2010/jan/21/goldman-sachs-bonus-cut
            http://www.independent.co.uk/news/uk/politics/tough-talk-on-bank-bonuses-comes-to-nought-2181107.html

            • RedLogix 4.1.2.2.1.1

              Ah well that’s a very fine kettle of Icelandic fish… but NZ isn’t Iceland. In reality the Icelandic govt had pretty much no choice but to let it’s banks fail… that country’s crisis was so extreme it got outside what even that govt could rescue.
               
              By contrast the conventional wisdom in this part of the world was to prop up the banks with these schemes. I guess in one sense you are right. There would have been merit in letting these institutions fail… but bear in mind that the four big Aussie banks may well have had the last word in this matter.
               
              Besides realistically Dr Cullen was looking down the barrel of a very tough election… what Minister of Finance, of any party, anywhere, anytime, would have risked throwing the nation into an precipitous, unpredictable economic crisis at that very moment… if he did not have to?
               
              Sure you can accuse Dr Cullen of self-interest… but realistically repudiating the banks at that point in time was never an option.

              • Herodotus

                From memory here were approx 50 of these “other banks”, yet the majority of them of any substance already gone, so the coleratal damage was less than otherwise. I accept we know more after the event, yet the govt could have protected the big real banks (remember these were the only ones paying into the fund- a form of insurance anyway). Sure there would have been a run, yet the govt guarantee was to be phased out, only delaying the run (who in their sound mind would now be willing to invest in these???, many were lured with an extra 1-2% interest and nieve to understand that the rewards were well below the risk they were entering)
                Not only SCF but it would be great to know how many others were tagged by treasery as doubtful.
                Has a great idea after the event, SCF could have been merged with Kiwibank (as a gift to enable some growth, at least then KB could have a wee injection of some growth)

        • Mrhappy 4.1.2.3

          Mate, I’d love to see that, she’d be awesome.  If England puts her on the wing for the RWC they’ll be fucking unstoppable.

  5. Hanswurst 5

    Why did they write a blank cheque from we the taxpayers to bail out SCF “insiders”?

    I don’t mean to be the arch-pedant or anything, but this turn of phrase has been popping up all over the place recently, and it’s starting to get on my nerves.
    It should read “Why did they write a blank cheque from us, the taxpayers, to bail out SCF ‘insiders’?” One would never consider writing “Why did they write a blank cheque from we?” on its own, and the principle doesn’t change when the sentence is extended. “We” would be correct if it were the subject of the verb “to bail”, but it isn’t. It’s the object of the preposition “from”, so it needs to be “us”.

    • r0b 5.1

      I use the “we the X” quite a lot, in a deliberate echo of “we the people”…

      • Hanswurst 5.1.1

        Yeah, it’s crystal clear where your getting it from, it’s just strange seeing a slightly formal, ubercorrect formula used in a way which is bizarrely wrong in terms of its grammar. “We the taxpayers shall not countenance bailing out SCF ‘insiders’” would be fine, but what you have written just seems… odd.

        Still, I’m not going to lose any sleep over it. Just wanted to get it off my chest.

  6. vto 6

    It occured to me last night that Allan Hubbard and Lachie McLeod (ex-ceo) will come out of this stinking much worse than even Mark Hotchin and Eric Watson with their Hanover dividend rip-off.

    Hubbard by his well intentioned but bumbling old-style ways on a scale that deems such criminal, and McLeod by his insider loans and empire-style manner making loans as if the money was his.

    1. Why was SCF brought into the guarantee shceme when Key and English knew it was going to fail? (the big question)
    2. What inside information was passed between Nat govt players such as David carter, English, Shipley, Key and the Torchlight fund players such as Gould and Kerr (these people are old boy people).
    3. Why did McLeod and Hubbard make all those related party loans and bad loans post-guarantee acceptance? (to bail out before the collapse, thats what).
    4. What part did the assets of SCF play in all of this and where will they end up? (irrigation and dairy on NZ’s largest scale. again, ask David Carter etc)

    To those out there chasing these, good luck and keep at it. If the answers to those questions above turn out to be as suspected then the scandal is of govt-breaking proportions. As such should be.

  7. wyndham 7

    I was against it when Labour brought in the scheme

    In Parliament yesterday, John Key several times referred, in a derogatory way, to Labour having brought in the scheme. What conveniently seems to have been forgotten is that Labour did so with the full agreement of the then Opposition National Party.

    • RedLogix 7.1

      Thanks… I had forgotten that point.
       
      For Key to turn around and sneer about it now, when he of all people knows exactly what happened and why, is unforgiveably hypocritical.
       
      Even the Press Gallery know this… but the truth means nothing to them any more.. just the ‘game’.

  8. tc 8

    The SCF debacle needs to be pursued by all those who care about a fair go for the taxpayer, something sideshow and blinglish couldn’t give an F about, and something way too dangerous for the MSM to address as they’ll upset their backers.

    The timeline, players and facts are simply damming and Shonkey knows this as unlike the corporate shonky deals he’s done there’s alot more note taking and documentation attached to that PM job thingy he clowns about attempting to fulfill.

    No-one I speak to is fooled by them anymore and they’ve only got themsleves to blame…..absolute power corrupts absolutely.

  9. Name (Required) 9

    “Insider Trading” is using knowledge gained from a source on the ‘inside’ in order to buy shares before they increase in value, or sell them before they fall when the same information becomes public.
    An investment company making loans to related individuals is not “insider trading” in this respect, and would only be ‘illegal’ if it either was in breach of a fiduciary duty and/or was not disclosed to investors in a situation where such disclosure was required.
    Guaranteeing deposits was a policy decision made during the credit crisis in order to prevent the crisis becoming an all-out panic which would have made the situation immeasurably worse.  When bank runs start good, perfectly stable banks get sucked in and under.  In the US, which unlike many first world countries chose not to adopt this policy, many small, local banks have gone under in the last three years because depositors in them sought the ‘safety’ of the ‘Too big to Fail” banks like BoA and CitiCorp, which have also been able to pick off many more like predatory sharks in a tank and making them even richer and bigger – and more powerful.
    Once it decides to guarantee deposits the government can’t pick and choose whose deposits to guarantee.  Had it excluded SCF, it would have been  tantamount to saying SCF was bust which would have been a self-fulfilling prophecy – thereby denying SCF any chance it might have had of surviving and/or trading out of difficulty.
    Its easy enough to harp and carp in the aftermath when all outcomes are known, but the captain of a ship in a storm has some difficult decisions to make and your best chance of survival is to back him even if you think he’s wrong ‘ cos if you fight him at the time no-one’s going to survive.
     
     
     
     

  10. vto 10

    Mr no name, I don’t think anyone denies what was going on then. It is a story in itself.

    However, not all finance companies were allowed into the scheme for a start so when you say “Had it excluded SCF, it would have been  tantamount to saying SCF was bust which would have been a self-fulfilling prophecy” you miss a couple of crucial component…

    Firstly, other finance companies were excluded, which nullifies most of your post; and,

    Secondly, Key has admitted they knew from the very first day he became PM that it was going bust. So there would have been no self-fulfilling prophecy about it. It was bust already effectively. It should not have been admitted to the scheme – that is the biggest issue of them all, and while your post sounds knowledgeable (and from within some halls of insiderness) it misses these fundamentals.

    edit: meant as reply to name at 12.33pm

  11. Adrian 11

    As “periferal collateral damage” to the SCF cock -up I have a first hand take on things. I’m owed all of last years income by a company that has a SCF loan that it had been servicing correctly, like a lot of others, and when the shit hit the fan, the White-Collar-Looters ( receivers) demanded all of the loan back NOW. The company tried to comply but even tho they are a viable exporter none of the ten banks they approached would take up the loan in place of SCF, it was apparent that all the other banks had got together and decided that they would not bail out the SCF receivers, so the company told them to FO as did most of the other companies with SCF loans, as was reported a few weeks ago. The demand was then “all of it in 3 years”, the answer was the same, FO, they are now paying 5 % of income over and a above P&I. That’s where my money is going, so as a primary producer, I and others like me are doing the fucking bailing out at 100% of income. This is the big problem for the Govt as the WCL’s can’t get any money out of the loan book, most of these loans are “good” loans, but to forcibly call them in would absolutely cripple huge numbers of companies and production.  Here’s a solution, although a little late, if SCF had to be bailed out it should have been done by issuing Govt Bonds paying bugger all, say 1% instead of cash. Then the bonds could have been used as guarantee on the secured assets of SCF. Easy as, the opportunistic arseholes would have got their money back and the whole farce would not have been such an anchor on the Govt’s books. Obviously this is too simple for English and Treasury fuckheads to grasp.  P.s I think all White Collar Looters should be nationalised, and a service like the old Public Trust put in place.

    • vto 11.1

      Adrian, that has been going on all over the country since 2007 in case you haven’t noticed. Businesses with loans from useless finance outfits have had to refinance back to ‘traditional’ banks. This has been possible where the businesses are sound, and not possible where the businesses are not sound.

      Your claim that the big banks got together to deny any refinancing of SCF loans is not right. Refinancing has not happenned when the business and its debt requirements do not stack up. It may pay to re-assess the business you are involved with. Nonetheless it is still tough – hope you get through it.

      Also delivers another lesson which perhaps all could learn from and at the same time deliver a power punch to the banking cartel evil-doers. USE NO DEBT.

  12. Tiger Mountain 12

    SCF is the story that keeps on giving. Hopefully Shonkey’s financial genius reputation has been dented severely. The group photo on this site of the Natz front rankers just shows how shallow they are on real talent.

    18 months ago a popular term was “meme” (ideas socially transmitted in some way similarly to genes) borrowed from the likes of biologist Dawkins. Another term is irrational persisitance which would describe a good number of the right wingers that comment here.

  13. Treetop 13

    Talk about a ponzie scheme, (SCF). 

  14. Rich 14

    Labour should have closed the finance company sector down in 2005.

    Before you accuse me of false hindsight, I said this in 2005

Recent Comments

Recent Posts

  • Creating jobs and cleaning up our rivers
    New Zealanders deserve healthy rivers and lakes that are safe to swim in - but they have been getting worse for decades. That's why, with our latest announcement, we're investing in projects that will help clean up our rivers and lakes and restore them to health, within a generation. ...
    21 hours ago
  • Jacinda Ardern: 2020 Labour Congress Speech
    Jacinda Ardern's speech to the 2020 Labour Party Congress. ...
    22 hours ago
  • Kelvin Davis: 2020 Labour Congress Speech
    Kelvin Davis' speech to the 2020 Labour Party Congress. ...
    22 hours ago
  • Week That Was: Another week of major progress
    This week we moved into the second half of 2020 - and our Government delivered another week of big changes and major progress for New Zealanders. Read below for a wrap of the key things moments from the week - from extending paid parental leave, to making major investments in ...
    3 days ago
  • Green Party opposes RMA fast-track bill that cut corners on environmental safeguards and public cons...
    The Green Party has opposed the COVID-19 Recovery Fast-track Consenting Bill which shortcuts normal consenting processes under the Resource Management Act (RMA), reduces public participation and narrows environmental considerations. ...
    4 days ago
  • Site of new freight hub revealed
    Hon Shane Jones, Minister of Regional Economic Development A regional freight hub for the lower North Island will be built just northeast of Palmerston North, Regional Development Minister Shane Jones has announced. The Government is investing $40 million through the Provincial Growth Fund to designate and buy land and design ...
    4 days ago
  • Greens call for Guaranteed Minimum Income to alleviate skyrocketing debt with MSD
    Green Party Co-leader Marama Davidson is calling for the introduction of a Guaranteed Minimum Income to lift hundreds of thousands of people out of poverty and prevent more families entering into further debt with the Ministry of Social Development.  ...
    4 days ago
  • Winston Peters: Facts matter when taxpayer money is on the line
    There has been renewed focus on New Zealand First acting as a handbrake on the Government after our decision to not support Auckland light rail. We are a handbrake for bad ideas, that is true, but our track record since 2017 has seen New Zealand First constructively also serve as an ...
    4 days ago
  • Bill raising minimum residency requirement for NZ Super passes first reading
    Mark Patterson MP, New Zealand First List MP New Zealand First’s Fair Residency for Superannuation Bill passed its First Reading in Parliament today. The Bill makes a significant change to NZ Super by raising the minimum residency requirement from 10 to 20 years, after age 20. “Currently, a migrant of ...
    4 days ago
  • Harsher penalties for assaults on first responders one step closer
    Darroch Ball MP, Spokesperson for Law and Order A New Zealand First member’s bill in the name of Darroch Ball introducing a six-month minimum prison sentence for assaults on first responders has passed its second reading in Parliament. The new offence of "injuring a first responder or corrections officer with ...
    5 days ago
  • Criminal Cases Review Commission delivers Coalition promise
    Fletcher Tabuteau MP, Deputy Leader of New Zealand First New Zealand First welcomes the launch of the new Criminal Cases Review Commission, gifted with the name from Waikato-Tainui - Te Kāhui Tātari Ture, announced in Hamilton today by Justice Minister Andrew Little. “New Zealand First has long believed in and ...
    5 days ago
  • Greens welcome huge new investment in sustainable projects
    The Green Party is celebrating over $800m in new funding for green projects, which will get people into jobs while solving New Zealand’s long-term challenges. ...
    5 days ago
  • New Zealand First demands answers from Meridian Energy
    Mark Patterson MP, Spokesperson for Primary Industries New Zealand First is appalled that Meridian seems to have been unnecessarily spilling water from its dams to drive up its profits."While New Zealanders have been coming together in some of our darkest hours, we don’t expect power gentailers to waste water and ...
    6 days ago
  • Getting New Zealand moving again: June 2020
    We wrapped up the first half of 2020 with a busy month, taking additional steps to support New Zealanders as we continue with our economic recovery. We rolled out targeted packages to support key industries like tourism and construction, helped create jobs in the environmental and agriculture sectors, and set ...
    6 days ago
  • Māori union leader appointed to Infrastructure Commission board
    Hon Shane Jones, Minister for Infrastructure Infrastructure Minister Shane Jones has welcomed the appointment of Maurice Davis and his deep infrastructure and construction experience to the board of the Infrastructure Commission. Mr Davis (Ngāti Maniapoto), is the seventh and final appointment to the board led by former Reserve Bank Governor ...
    6 days ago
  • Click-bait journalism at its worst
    Rt Hon Winston Peters, Leader of New Zealand First New Zealand’s click bait journalism is taking a turn for the worse, with yet another example of sensationalist, wilful-misrepresentation of the facts. “New Zealand First has worked constructively with its Coalition partner on hundreds of pieces of legislation and policy, and ...
    6 days ago
  • Green Party proposes transformational Poverty Action Plan
    The Green Party is today unveiling its Poverty Action Plan, which includes a Guaranteed Minimum Income to ensure people have enough to live with dignity.     ...
    1 week ago
  • PGF accelerates Rotorua projects
    Rt Hon Winston Peters, Deputy Prime Minister Fletcher Tabuteau MP, Under-Secretary for Regional Economic Development The Rotorua Museum redevelopment and Whakarewarewa and Tokorangi Forest projects will be accelerated thanks to a $2.09 million Provincial Growth Fund (PGF) boost, Deputy Prime Minister Winston Peters and Under-Secretary for Regional Economic Development Fletcher ...
    1 week ago
  • Week That Was: Getting people into jobs
    This week, we rolled out the next steps of our recovery plan, with new infrastructure investment, extra support for tourism operators, and a new programme to get Kiwis into agriculture careers. The global economic consequences of COVID-19 will continue to be a challenge, but we have a detailed plan to ...
    1 week ago
  • Coalition commitment establishing Mental Health Commission delivered
    Jenny Marcroft MP, Spokesperson for Health New Zealand First welcomes the passage of the Mental Health and Wellbeing Commission Bill through its final reading in Parliament today fulfilling a coalition agreement commitment. “This is an important step in saving the lives of New Zealanders and delivers a key coalition commitment ...
    1 week ago
  • Whakatāne gets a $2.5m ‘turbo boost’
    Whakatāne has been given a $2.5 million boost to speed up previously funded projects and create more than 450 jobs in the next decade. Of those, the equivalent of 160 full-time jobs could be delivered in the next six weeks. Deputy Prime Minister Winston Peters is in town to make ...
    1 week ago
  • $2.5m PGF funding to speed up economic recovery in Whakatāne
    Rt Hon Winston Peters, Deputy Prime Minister Fletcher Tabuteau MP, Under-Secretary for Regional Economic Development The Provincial Growth Fund (PGF) is investing $2.5 million to accelerate three infrastructure projects in Whakatāne, Deputy Prime Minister Winston Peters and Under-Secretary for Regional Economic Development Fletcher Tabuteau announced today. “This package is about ...
    1 week ago
  • Shane Jones calls out those holding drought-stricken Auckland ‘to ransom’ over water
    Infrastructure Minister Shane Jones is throwing his weight behind a bid by the Auckland Council to fast-track the more than doubling of the city's water allowance from the Waikato River. And he's coming out strongly against anyone who plans on getting in the way of this campaign. "It is my ...
    1 week ago
  • Another Green win as climate change considerations inserted into the RMA
    The Green Party is thrilled to see changes to the Resource Management Act (RMA) that mean consents for large projects can be declined if they will have significant climate change implications that are inconsistent with the Zero Carbon Act and Aotearoa New Zealand’s Paris Agreement obligations.  ...
    2 weeks ago
  • New Navy vessel Aotearoa to arrive in New Zealand
    Hon Ron Mark, Minister of Defence The Royal New Zealand Navy’s new ship, Aotearoa, set sail for New Zealand on 10 June from the Republic of Korea, and is due to arrive in Auckland tomorrow, announced Minister of Defence Ron Mark. “Aotearoa is the Royal New Zealand Navy’s new fleet ...
    2 weeks ago
  • Racing Industry Bill passes third reading
    Rt Hon Winston Peters, Deputy Prime Minister, Minister for Racing Racing Minister Winston Peters has today welcomed the Racing Industry Bill passing its third reading, creating the legislative framework for revitalising the racing industry while limiting the need for future government intervention. “For too long our domestic racing industry has ...
    2 weeks ago
  • Green Party seek amendment to ensure all prisoners can vote
    The Green Party has today put forward an amendment to the Electoral (Registration of Sentenced Prisoners) Amendment Bill to ensure all people in prisons can vote in general elections. ...
    2 weeks ago
  • Green Party welcomes new approach to delivering light rail
    The Green Party welcomes the decision to not proceed with Public Public Investment (PPI) delivery of Auckland’s light rail project and to instead run the process through the public service. ...
    2 weeks ago
  • New Zealand First welcomes PGF investment in Wairarapa Water
    Hon Ron Mark, New Zealand First List MP based in the Wairarapa New Zealand First List MP Hon Ron Mark welcomes the announcement of Provincial Growth Funding investment of $1.4 million to help secure the Wairarapa’s water supply. The funding boost will allow the Greater Wellington Regional Council (GWRC), and ...
    2 weeks ago
  • New Zealand First MP Mark Patterson selected as candidate for Taieri
    New Zealand First list MP Mark Patterson has been selected to represent the party in the newly formed Taieri electorate at the upcoming election. Mr Patterson, his wife Jude and two daughters farm sheep and beef at Lawrence and Waitahuna. He previously stood in the Clutha-Southland electorate however boundary changes ...
    2 weeks ago
  • Ground-breaking on NZ Post depot
    Hon Shane Jones, Associate Minister for State Owned Enterprises A new ‘super depot’ to be built for NZ Post in Wellington will create around 350 jobs during construction, Associate Minister for State Owned Enterprises Shane Jones says. Shane Jones today attended a ground-breaking and blessing ceremony for the parcel-processing depot ...
    2 weeks ago
  • Week That Was: Putting our economic plan into action
    Our strong economic management prior to COVID-19 - with surpluses, low debt and near-record-low unemployment - put us in a good position to weather the impact of the virus and start to rebuild our economy much earlier than many other countries. Now we're putting our plan to recover and rebuild ...
    2 weeks ago
  • Fleeing drivers hit new record-high yet again
    Darroch Ball MP, New Zealand First Spokesperson for Law and Order Recently released Police fleeing driver statistics have shown yet another increase in incidents with another record-high in the latest quarter. “This new quarterly record-high is the latest in a string of record-high numbers since 2014.  The data shows incidents ...
    2 weeks ago
  • Fletcher Tabuteau selected as candidate for Rotorua
    New Zealand First MP Fletcher Tabuteau is pleased to be confirmed today as the party’s candidate for the Rotorua electorate. Speaking at the Rotorua AGM for New Zealand First, Mr Tabuteau said this is an election that is incredibly important for the people of Rotorua. “The founding principles of New ...
    2 weeks ago
  • Greens call for Government office to address Rainbow issues following Human Rights Commission report
    The Human Rights Commission’s PRISM report on the issues impacting people based on their sexual orientation, gender identity and expression, and sex characteristics (SOGIESC) provides an excellent programme of work for future governments to follow, say the Greens. ...
    2 weeks ago
  • Winston Peters continues push for trans-Tasman travel as military take control of operations
    Foreign Affairs Minister Winston Peters said the trans-Tasman bubble had not been jeopardised after a border botch-up resulted in New Zealand having two active cases of COVID-19. On Friday, Mr Peters told RNZ's Morning Report he had heard from Australian Prime Minister Scott Morrison that borders for trans-Tasman travel would open by ...
    2 weeks ago
  • Winston Peters on the Government’s Covid-19 border blunder
    Deputy Prime Minister Winston Peters said today he was pleased the army was now running the quarantine and isolation process - up until now it has been the Ministry of Health. Peters told Newstalk ZB's Mike Hosking that the army knew how to introduce and follow protocols and instil discipline. ...
    2 weeks ago
  • New Zealand First’s Ron Mark confirms bid for the Wairarapa seat
    Hon Ron Mark, New Zealand First List MP based in the Wairarapa New Zealand First MP and Minister for Defence and Veteran’s Affairs Ron Mark has confirmed his bid for the Wairarapa seat.“The Coalition Government has done a lot of good work throughout the Wairarapa, but many constituents have told ...
    2 weeks ago
  • New Zealand First welcomes second tranche of candidates
    New Zealand First is pleased to release the names of its next tranche of candidates for the 2020 election. We’re proud to announce these hardworking New Zealanders that have put their hand up to fight for a commonsense and resilient future.Jamie Arbuckle – Kaikoura Mark Arneil – Christchurch Central Jackie ...
    3 weeks ago
  • Joint effort under way to repatriate stranded Vanuatu nationals
    Rt Hon Winston Peters, Deputy Prime Minister, Minister of Foreign Affairs Hon Ron Mark, Minister of Defence A massive joint effort between New Zealand Government agencies, employers, and the Vanuatu Government is underway to repatriate over 1000 Vanuatu nationals stranded in New Zealand, Foreign Affairs Minister Winston Peters and Defence Minister Ron ...
    3 weeks ago

  • Extended loan scheme keeps business afloat
    Small businesses are getting greater certainty about access to finance with an extension to the interest-free cashflow loan scheme to the end of the year. The Small Business Cashflow Loan Scheme has already been extended once, to 24 July. Revenue and Small Business Minister Stuart Nash says it will be ...
    BeehiveBy beehive.govt.nz
    20 hours ago
  • New investment creates over 2000 jobs to clean up waterways
    A package of 23 projects across the country will clean up waterways and deliver over 2000 jobs Prime Minister Jacinda Ardern and Environment Minister David Parker announced today. The $162 million dollar package will see 22 water clean-up projects put forward by local councils receiving $62 million and the Kaipara ...
    BeehiveBy beehive.govt.nz
    20 hours ago
  • Speech to Labour Party Congress 2020
    Tena koutou katoa  Nga tangata whenua o tenei rohe o Pōneke, tena koutou Nau mai, haere mai ki te hui a tau mo te roopu reipa Ko tatou!  Ko to tatou mana!  Ko to tatou kaupapa kei te kokiri whakamua  Tena koutou, tena koutou, tena tatou katoa   Welcome. I ...
    BeehiveBy beehive.govt.nz
    20 hours ago
  • Building a more sustainable construction sector
    A new programme, which sets a firm course for the Building and Construction sector to help reduce greenhouse gas emissions, has been announced by the Minister for Building and Construction Jenny Salesa. “A significant amount of New Zealand’s carbon emissions come from the building and construction sector.  If we’re serious ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • PGF funds tourism boost in Northland
    The Provincial Growth Fund is investing more than $7.5 million in Northland ventures to combat the economic impact of the COVID-19 virus, Deputy Prime Minister Winston Peters and Regional Economic Development Minister Shane Jones have announced. The Provincial Growth Fund (PGF) investment is going to the Northern Adventure Experience and ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Four new projects announced as part of the biggest ever national school rebuild programme
    Prime Minister Jacinda Ardern and Education Minister Chris Hipkins today announced significant funding for Auckland’s Northcote College as part of the first wave of a new nationwide school redevelopment programme to upgrade schools over the next 10 years. The $48.5 million project brings the total investment in Northcote College to ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • COVID-19: Support to improve student attendance and wellbeing
    The Government has opened an urgent response fund to support schools and early learning services to get children and young people back on track after the Covid-19 lockdown. “While we are seeing improvements in attendance under Alert Level 1 Ministry of Education data shows that attendance rates in our schools ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Fast-track consenting law boosts jobs and economic recovery
    The law to boost the economic recovery from the impact of COVID-19 by speeding up resource consenting on selected projects has passed its second and third readings in the House today. “Accelerating nationwide projects and activities by government, iwi and the private sector will help deliver faster economic recovery and ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Whanganui Port gets PGF boost
    Five port-related projects in Whanganui will receive a $26.75 million Provincial Growth Fund investment to support local economic recovery and create new opportunities for growth, Regional Economic Development Minister Shane Jones announced today. “This is a significant investment that will support the redevelopment of the Whanganui Port, a project governed ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • More support for Sarjeant Gallery
    Whanganui’s Sarjeant Gallery will receive an investment of up to $12 million administered by the Provincial Growth Fund to support its redevelopment, Regional Economic Development Minister Shane Jones announced today. The project is included in a $3 billion infrastructure pipeline announced by Finance Minister Grant Robertson and Shane Jones yesterday. ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Funding for training and upskilling
    The Provincial Growth Fund is investing nearly $2.5 million into three Te Ara Mahi programmes to support Manawatū-Whanganui jobseekers and employees to quickly train and upskill, Regional Economic Development Minister Shane Jones announced today. “Up to 154 local people will be supported into employment within the first year by these ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Statement from the Minister of Health Dr David Clark
      This morning I have formally tendered my resignation as Minister of Health, which was accepted by the Prime Minister. Serving as Minister of Health has been an absolute privilege – particularly through these extraordinary last few months. It’s no secret that Health is a challenging portfolio. I have given ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Scholarship placements for agricultural emissions scientists doubles
    Scholarships for 57 early-career agricultural emissions scientists from 20 developing countries is another example of New Zealand’s international leadership in primary sector sustainability, says Agriculture Minister Damien O’Connor. Mr O’Connor, announcing the scholarships today, says hundreds of applications were received for this fourth round of the CLIFF-GRADS programme (Climate, Food ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Funding for Foxton regeneration
    A project to help rejuvenate the Horowhenua town of Foxton will receive a Provincial Growth Fund investment of $3.86 million, Regional Economic Development Minister Shane Jones announced today. “This funding for the Foxton Regeneration project will be used to make the well-known holiday town even more attractive for visitors and ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Plan to improve protection of moa bones
    Moa bones and other sub-fossil remains of extinct species are set to have improved protection with proposals to prevent the trade in extinct species announced the Minister of Conservation Eugenie Sage today. “We have lost too many of our native species, but these lost species, such as moa, remain an ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Free lunches served up to thousands of school children in the South Island
    The Government’s free and healthy school lunches programme moves south for the first time creating jobs for around 30 people in Otago and Southland. “Eighteen schools with 3000 students are joining the programme – 11 have already begun serving lunches, and seven are preparing to start during Term 3. This is ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Screen Sector recovery package protects jobs, boosts investment
    Thousands of Kiwi jobs and investment in New Zealand productions will be protected through a screen sector support package announced today by Associate Minister for Arts Culture and Heritage Carmel Sepuloni, Minister for Economic Development Phil Twyford and Minister for Broadcasting Kris Faafoi. The package also includes investment in broadcasting ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • New fund to help save local events and jobs
    The Government has established a new $10 million fund for the domestic events sector to help save jobs and protect incomes as it recovers from the impacts of COVID-19, Minister of Economic Development Phil Twyford announced today. This funding from Budget 2020 follows talks with the event sector designed to ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Bill to improve fuel market competition
    The Government has taken another step in its commitment to making sure New Zealanders get a fairer deal at the petrol pump with the introduction of legislation to improve competition in the retail fuel market, says Energy and Resources Minister Megan Woods. “The fuel market study that this Government ordered ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • New Zealand joins global facility for pre-purchase of COVID-19 Vaccine
    New Zealand has joined a global initiative that aims to enable all countries to access a safe and effective Covid-19 vaccine, Foreign Affairs Minister Winston Peters announced today. The COVAX Facility was recently launched by Gavi, the Vaccine Alliance. The Alliance includes the World Health Organization, UNICEF, the World Bank ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Right to legal representation in Family Court restored today
    From today new legislation takes effect to both restore the right to legal representation at the start of a Care of Children (CoCA) dispute in the Family Court, and allow parties to those proceedings to access legal aid where eligible. During a visit to the Family Court in Auckland today, ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Transitioning to a fully-qualified home-based ECE workforce
    Home-based early childhood education (ECE) subsidised by the government will transition to a fully qualified workforce by 2025 to ensure better and more consistent quality, Education Minister Chris Hipkins announced today. “Quality early learning helps provide children with a strong foundation for their future,” Chris Hipkins said. From 1 January ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Criminal Cases Review Commission gets to work
    The new Criminal Cases Review Commission | Te Kāhui Tātari Ture (CCRC) has started work and can now independently investigate claimed miscarriages of justice. “Even though we have appeal rights and safeguards against unsafe convictions, from time to time our justice system does get things wrong. The design of the ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Speech by the Minister of Defence to the New Zealand Institute of International Affairs
    E ngā mana, e ngā reo, e ngā karangatanga maha, tēnā koutou Ki a koutou Te Āti Awa, Taranaki Whānui, Ngāti Toa Rangatira, ngā mana whenua o te rohe nei, tēnā koutou Ko Te Whare Wānanga o Aotearoa ki ngā take o te Ao (NZIIA), Ko te Rōpū Tohu Tono ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Six months with baby and $20 more a week for new parents
    The Government’s increase to paid parental leave kicks in today with another 4 weeks taking New Zealand up to a full 6 months (26 weeks, up from 22 weeks) leave for new parents, and the maximum weekly payment will increase by $20pw, Workplace Relations and Safety Minister Iain Lees-Galloway says. ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Infrastructure investment to create jobs, kick-start COVID rebuild
    A new package of infrastructure investments will help kick-start the post-COVID rebuild by creating more than 20,000 jobs and unlocking more than $5 billion of projects up and down New Zealand. Finance Minister Grant Robertson and Infrastructure Minister Shane Jones today outlined how the $3 billion infrastructure fund in the ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Statement on passage of national security law for Hong Kong
    Foreign Affairs Minister Winston Peters today expressed the New Zealand Government’s deep disappointment at the passage by China’s National People’s Congress Standing Committee of a national security law for Hong Kong. “New Zealand has consistently emphasised its serious concern about the imposition of this legislation on Hong Kong without inclusive ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • July 1 marks progress for workers, families
    More jobs and more family time with newborns are the centrepiece of a suite of Government initiatives coming into effect today. July 1 is a milestone day for the Government as a host of key policies take effect, demonstrating the critical areas where progress has been made. “The Coalition Government ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Auckland water consent referred to Board of Inquiry
    Environment Minister David Parker has today “called in” Auckland’s application to the Waikato Regional Council to take an extra 200 million litres of water a day from the lower reaches of the Waikato River for Auckland drinking water and other municipal uses.  The call-in means the application has been referred ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • New Zealand to host virtual APEC in 2021
    Foreign Affairs Minister Winston Peters and Trade and Export Growth Minister David Parker announced today that New Zealand’s hosting of APEC in 2021 will go ahead using virtual digital platforms. Mr Peters said the global disruption caused by COVID-19, including resultant border restrictions, had been the major factor in the ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Matakana Link Road construction kicks off and drives jobs
    The start of construction on a new link road between Matakana Road and State Highway 1 will create jobs and support the significant population growth expected in the Warkworth area, Transport Minister Phil Twyford and Mayor Phil Goff announced today. Transport Minister Phil Twyford said construction of the Matakana Link ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • PPE supplies secured as COVID-19 response focuses on border
    The Government is prioritising its latest investment in PPE for frontline health workers, including staff at managed isolation and quarantine facilities, Health Minister David Clark says. “With no community transmission of COVID-19 our response now has a firm focus on keeping our border safe and secure. “We must ensure that ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • PGF funding for Parihaka settlement
    The Parihaka Papakāinga Trust in Taranaki will receive up to $14 million for a new visitor centre and other improvements at the historic settlement that will boost the local economy and provide much-needed jobs, Regional Economic Development Minister Shane Jones and Minister for Treaty of Waitangi Negotiations Andrew Little have ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Protections for workers in triangular employment
    Protections for workers who are employees of one employer but working under the direction of another business or organisation have come into force, closing a gap in legislation that  made the personal grievance process inaccessible for some workers, says Workplace Relations Minister Iain Lees-Galloway. “This Government is working hard to ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Government strengthens managed isolation system
    A range of improvements are already underway to address issues identified in the rapid review of the Managed Isolation and Quarantine system released today, Housing Minister Megan Woods said. The review was commissioned just over a week ago to identify and understand current and emerging risks to ensure the end-to-end ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Whakatāne to go predator free with Government backing Ngāti Awa led efforts
    The important brown kiwi habitat around Whakatāne will receive added protection through an Iwi-led predator free project announced by Minister of Conservation Eugenie Sage and Under Secretary for Regional Economic Development Fletcher Tabuteau. “The Government is investing nearly $5 million into Te Rūnanga o Ngāti Awa’s environmental projects with $2.5 ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Growing Goodwood: Expanding wood waste recycling plant in Bay of Plenty, Waikato
    An extra 4,000 tonnes of offcuts and scraps of untreated wood per year will soon be able to be recycled into useful products such as horticultural and garden mulch, playground safety surfacing and animal bedding as a result of a $660,000 investment from the Waste Minimisation Fund, Associate Environment Minister ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Scott Watson’s convictions to be referred to Court of Appeal
    The Governor-General has referred Scott Watson’s convictions for murder back to the Court of Appeal, Justice Minister Andrew Little announced today. Mr Watson was convicted in 1999 of the murders of Ben Smart and Olivia Hope. His appeal to the Court of Appeal in 2000 was unsuccessful, as was his ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Protecting Kiwis with stronger financial supervision
    A new five-year funding agreement for the Reserve Bank will mean it can boost its work to protect New Zealanders’ finances, Finance Minister Grant Robertson says. “New Zealand has a strong and stable financial system. Financial stability is an area that we are not prepared to cut corners for, particularly ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Forgotten funds and missing money
    A law change has been introduced to make it easier for forgotten funds in institutional accounts to be returned more easily to their rightful owners. Revenue Minister Stuart Nash has introduced an amendment to the Unclaimed Money Act 1971. It will update the rules controlling forgotten sums of money held ...
    BeehiveBy beehive.govt.nz
    1 week ago