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

    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


    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


        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

          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

            ..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

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

        • RedLogix

          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

            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.

            • RedLogix

              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

          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

  • Language provides hope for Tuvalu
    Climate change continues to present a major risk for the island nation of Tuvalu, which means sustaining te gana Tuvalu, both on home soil and in New Zealand Aotearoa, has never been more important, Minister for Pacific Peoples Aupito William Sio said. The Tuvalu Auckland Community Trust and wider Tuvalu ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Minister Sio to attend Asian Development Bank meeting in Manila
    Associate Foreign Affairs Minister Aupito William Sio travels to the Philippines this weekend to represent Aotearoa New Zealand at the 55th Annual Meeting of the Asian Development Bank (ADB) Board of Governors in Manila. “The ADB Annual Meeting provides an opportunity to engage with other ADB member countries, including those ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • United Nations General Assembly National Statement
    E ngā Mana, e ngā Reo, Rau Rangatira mā kua huihui mai nei i tēnei Whare Nui o te Ao Ngā mihi maioha ki a koutou katoa, mai i tōku Whenua o Aotearoa Tuia ki runga, Tuia ki raro, ka Rongo to pō ka rongo te ao Nō reira, tēnā ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • New strategy unifies all-of-Government approach to help Pacific languages thrive
    A united approach across all-of-Government underpins the new Pacific Language Strategy, announced by the Minister for Pacific Peoples Aupito William Sio at Parliament today. “The cornerstone of our Pacific cultures, identities and place in Aotearoa, New Zealand are our Pacific languages. They are at the heart of our wellbeing,” Aupito ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Upgrades for sporting facilities ahead of FIFA Women’s World Cup
    Communities across the country will benefit from newly upgraded sporting facilities as a result of New Zealand co-hosting the FIFA Women’s World Cup 2023. The Government is investing around $19 million to support upgrades at 30 of the 32 potential sporting facilities earmarked for the tournament, including pitch, lighting and ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Partnership supports climate action in Latin America and Caribbean
    Aotearoa New Zealand is extending the reach of its support for climate action to a new agriculture initiative with partners in Latin America and the Caribbean. Foreign Affairs Minister Nanaia Mahuta and Agriculture Minister Damien O’Connor announced a NZ$10 million contribution to build resilience, enhance food security and address the ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Landmark agreement for Māori fisheries celebrates 30th year
    The 30th anniversary of the Fisheries Deed of Settlement is a time to celebrate a truly historic partnership that has helped transform communities, says Parliamentary Under-Secretary to the Minister for Oceans and Fisheries Rino Tirikatene. “The agreement between the Crown and Māori righted past wrongs, delivered on the Crown’s treaty ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Government backs initiatives to cut environmental impact of plastic waste
    The Government has today announced funding for projects that will cut plastic waste and reduce its impact on the environment. “Today I am announcing the first four investments to be made from the $50 million Plastics Innovation Fund, which was set last year and implemented a 2020 election promise,” Environment ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Call for expressions of interest in appointment to the High Court Bench
    Attorney-General David Parker today called for nominations and expressions of interest in appointment to the High Court Bench.  This is a process conducted at least every three years and ensures the Attorney-General has up to date information from which to make High Court appointments.  “It is important that when appointments ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Depositor compensation scheme protects Kiwis’ money
    New Zealanders will have up to $100,000 of their deposits in any eligible institution guaranteed in the event that institution fails, under legislation introduced in Parliament today. The Deposit Takers Bill is the third piece of legislation in a comprehensive review of the Reserve Bank of New Zealand Act and ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • New fund to help more Pacific aiga into their own homes
    The Government has launched a new housing fund that will help more Pacific aiga achieve the dream of home ownership. “The Pacific Building Affordable Homes Fund will help organisations, private developers, Māori/iwi, and NGOs build affordable housing for Pacific families and establish better pathways to home ownership within Pacific communities. ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • More than 100,000 new Kiwis as halfway point reached
    Over 100,000 new Kiwis can now call New Zealand ‘home’ after the 2021 Resident Visa reached the halfway point of approvals, Minister of Immigration Michael Wood announced today. “This is another important milestone, highlighting the positive impact our responsive and streamlined immigration system is having by providing comfort to migrant ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Maniapoto Claims Settlement Bill passes third reading – He mea pāhi te Maniapoto Claims Settl...
    Nā te Minita mō ngā Take Tiriti o Waitangi, nā Andrew Little,  te iwi o Maniapoto i rāhiri i tēnei rā ki te mātakitaki i te pānuitanga tuatoru o te Maniapoto Claims Settlement Bill - te pikinga whakamutunga o tā rātou whakataunga Tiriti o Waitangi o mua. "Me mihi ka ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • 50,000 more kids to benefit from equity-based programmes next year
    Another 47,000 students will be able to access additional support through the school donations scheme, and a further 3,000 kids will be able to get free and healthy school lunches as a result of the Equity Index.  That’s on top of nearly 90% of schools that will also see a ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Healthy Active Learning now in 40 percent of schools across New Zealand
    A total of 800 schools and kura nationwide are now benefitting from a physical activity and nutrition initiative aimed at improving the wellbeing of children and young people. Healthy Active Learning was funded for the first time in the inaugural Wellbeing Budget and was launched in 2020. It gets regional ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Speech at 10th meeting of the Friends of the Comprehensive Nuclear-Test Ban Treaty
    Kia Ora. It is a pleasure to join you here today at this 10th meeting of the Friends of the Comprehensive Nuclear-Test Ban Treaty. This gathering provides an important opportunity to reiterate our unwavering commitment to achieving a world without nuclear weapons, for which the entry into force of this ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Speech for Earthshot Prize Innovation Summit 2022
    Kia ora koutou katoa Thank you for the invitation to join you. It’s a real pleasure to be here, and to be in such fine company.  I want to begin today by acknowledging His Royal Highness The Prince of Wales and Sir David Attenborough in creating what is becoming akin ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • New accreditation builds capacity for Emergency Management Volunteers
    Emergency Management Minister Kieran McAnulty has recognised the first team to complete a newly launched National Accreditation Process for New Zealand Response Team (NZ-RT) volunteers. “NZ-RT volunteers play a crucial role in our emergency response system, supporting response and recovery efforts on the ground. This new accreditation makes sure our ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Govt strengthens trans-Tasman emergency management cooperation
    Aotearoa New Zealand continues to strengthen global emergency management capability with a new agreement between New Zealand and Australia, says Minister for Emergency Management Kieran McAnulty. “The Government is committed to improving our global and national emergency management system, and the Memorandum of Cooperation signed is another positive step towards ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Christchurch Call Initiative on Algorithmic Outcomes
    Today New Zealand, the USA, Twitter, and Microsoft, announced investment in a technology innovation initiative under the banner of the Christchurch Call.  This initiative will support the creation of new technology to understand the impacts of algorithms on people’s online experiences.  Artificial Intelligence (AI) algorithms play a growing role in ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • JOINT PR: Trans-Tasman Cooperation on disaster management
    Hon Kieran McAnulty, New Zealand Minister for Emergency Management Senator The Hon Murray Watt, Federal Minister for Emergency Management Strengthening Trans-Tasman cooperation on disaster management issues was a key area of focus when Australia and New Zealand’s disaster management ministers met this week on the sidelines of the Asia-Pacific Ministerial Conference on ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • More transparency, less red-tape for modernised charities sector
    The Charities Amendment Bill has been introduced today which will modernise the charities sector by increasing transparency, improving access to justice services and reducing the red-tape that smaller charities face, Minister for the Community and Voluntary Sector Priyanca Radhakrishnan said. “These changes will make a meaningful difference to over 28,000 ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Pacific visas reopened to help boost workforce
    Work continues on delivering on a responsive and streamlined immigration system to help relieve workforce shortages, with the reopening of longstanding visa categories, Immigration Minister Michael Wood has announced.  From 3 October 2022, registrations for the Samoan Quota will reopen, and from 5 October registrations for the Pacific Access Category ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Queen Elizabeth II Memorial Day Bill passes into law
    The Bill establishing Queen Elizabeth II Memorial Day has passed its third reading. “As Queen of Aotearoa New Zealand, Her Majesty was loved for her grace, calmness, dedication, and public service. Her affection for New Zealand and its people was clear, and it was a fondness that was shared,” Michael ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • New investor migrant visa opens
    The new Active Investor Plus visa category created to attract high-value investors, has officially opened marking a key milestone in the Government’s Immigration Rebalance strategy, Economic Development Minister Stuart Nash and Immigration Minister Michael Wood have announced. “The new Active Investor Plus visa replaces the previous investor visa categories, which ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • New wharekura continues commitment to Māori education
    A new Year 1-13 designated character wharekura will be established in Feilding, Associate Minister of Education Kelvin Davis announced today. To be known as Te Kura o Kauwhata, the wharekura will cater for the expected growth in Feilding for years to come. “The Government has a goal of strengthening Māori ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • National minute of silence for Queen Elizabeth II
    A national minute of silence will be observed at the start of New Zealand’s State Memorial Service for Queen Elizabeth II, at 2pm on Monday 26 September. The one-hour service will be held at the Wellington Cathedral of St Paul, during a one-off public holiday to mark the Queen’s death. ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Speech to the Climate Change and Business Conference
    Tēnā koutou i tēnei ata. Good morning. Recently I had cause to say to my friends in the media that I consider that my job is only half done. So I’m going to take the opportunity of this year’s Climate and Business Conference to offer you a mid-point review. A ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Government enhances protection for our most-productive land  
    Enhanced protection for Aotearoa New Zealand’s most productive land   Councils required to identify, map, and manage highly productive land  Helping ensure Kiwis’ access to leafy greens and other healthy foods Subdivision for housing on highly-productive land could still be possible in limited circumstances  The Government has today released a National ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Kieran McAnulty to attend Asia-Pacific Ministerial Conference on Disaster Risk Reduction
    Minister for Emergency Management Kieran McAnulty will travel to Brisbane this week to represent Aotearoa New Zealand at the 2022 Asia-Pacific Ministerial Conference on Disaster Risk Reduction. “This conference is one of the most important meetings in the Asia-Pacific region to progress disaster risk reduction efforts and increase cooperation between ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Trade and Agriculture Minister to travel to India and Indonesia
    Minister of Trade and Export Growth and Minister of Agriculture Damien O’Connor will travel tomorrow to India and Indonesia for trade and agricultural meetings to further accelerate the Government’s growing trade agenda.  “Exploring ways we can connect globally and build on our trading relationships is a priority for the Government, ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Poroporoaki: Cletus Maanu Paul (ONZM)
    E te rangatira Maanu, takoto mai ra, i tō marae i Wairaka, te marae o te wahine nāna I inoi kia Whakatānea ia kia tae ae ia ki te hopu i te waka Mātaatua kia kore ai i riro i te moana. Ko koe anō tēnā he pukumahi koe mō ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Pacific Wellbeing Strategy sets clear path to improve outcomes for Pacific Aotearoa
    Strengthening partnerships with Pacific communities is at the heart of the Government’s new Pacific Wellbeing Strategy, Minister for Pacific Peoples Aupito William Sio announced today. “Working alongside communities to ensure more of our aiga and families have access to the staples of life like, housing, education, training and job opportunities ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Jobs on the horizon for more than 1,000 rangatahi
    Following on from last week’s Better Pathways Package announcement and Apprenticeship Boost 50,000th apprentice milestone, the Government is continuing momentum, supporting over 1,000 more rangatahi into employment, through new funding for He Poutama Rangatahi. “Our Government remains laser focused on supporting young people to become work ready and tackle the ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • NZ/AU partnership to bring world-class satellite positioning services
    Land Information Minister Damien O’Connor today announced a joint Trans-Tasman partnership which will provide Australasia with world-leading satellite positioning services that are up to 50 times more accurate, boosting future economic productivity, sustainability and safety.  New Zealand and Australia have partnered to deliver the Southern Positioning Augmentation Network (SouthPAN), with ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Govt helps small businesses get paid on time
    The Government is adding to the support it has offered New Zealand’s small businesses by introducing new measures to help ensure they get paid on time. A Business Payment Practices disclosure regime is being established to improve information and transparency around business-to-business payment practices across the economy, Small Business Minister ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Economy grows as tourism and exports rebound
    The economy has rebounded strongly in the June quarter as the easing of restrictions and reopening of the border boosted economic activity, meaning New Zealand is well placed to meet the next set of challenges confronting the global economy. GDP rose 1.7 percent in the June quarter following a decline ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • New Ambassador to China announced
    Foreign Affairs Minister Nanaia Mahuta today announced the appointment of Grahame Morton as New Zealand’s next Ambassador to China. “Aotearoa New Zealand and China share a long and important relationship,” Nanaia Mahuta said. “As we mark 50 years of diplomatic relations between our nations, we are connected by people-to-people links, ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • 1.4 million hectares of wilding pine control work in two years
    1.4 million hectares of native and productive land have been protected from wilding conifers in the past two years and hundreds of jobs created in the united efforts to stamp out the highly invasive weeds, Biosecurity Minister Damien O’Connor said. Speaking today at the 2022 Wilding Pine Conference in Blenheim, Damien ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • HomeGround – “a place to come together, a place to come home to”
    After 10 years’ hard mahi, HomeGround - Auckland City Mission's new home – is now officially open. “It’s extremely satisfying to see our commitment to providing a safety net for people who need housing and additional support services come together in a place like HomeGround, to create a better future ...
    BeehiveBy beehive.govt.nz
    2 weeks ago