Financial terrorists strike Christchurch, thousands with wrecked dwellings held hostage, Terrorists demand $500 million ransom from the government. As the crisis unfolds the terrorists demands are expected to increase to $1 billion.
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John Balmforth AMI head, says they have enough to pay out on all their earthquake damage policy claims – estimated cost, $1 billion.
AMI has $600 million of reinsurance cover and about $500m in cash and investments which would be enough to cover all claims, but would leave the company financially strapped.
AMI chief executive John Balmforth:
“We have not had events of this magnitude before. But we had $600 million reinsurance for the first event and we have another tranche of $600 million we can draw down on and another tranche of $400 millon we can draw down on,” he said.
Bamforth said AMI “had no issues meeting its commitments” “There will be increases in premiums nationally. I think these will be across the board, that’s just going to be a flow-on effect,” Balmforth said AMI was backed by some of the largest international reinsurers based in Bermuda and other parts of the world. Claims would be met. “I’m completely confident we can cover this. I’ve had messages from reinsurers offering support and saying they are ready to assist.”
In my opinion, it is probable that an honest effort by AMI to meet their commitments without government help would seriously effect AMI’s position in the insurance market. By paying their bills like an honest citizen would by necessity entail serious downsizing by AMI, with a resulting loss in market share, even complete collapse.
But so be it. It is not their money, it was deposited with them by their policy holders for just such an event. So rather than pay back their policy holders with ‘their’ money AMI gets to keep it, and we the taxpayer pay out instead?
So, How does this work again?
The Government comes up with eye watering amounts of public money to allow a bankrupt private company to avoid it’s responsibilities and continue to be a major player in the insurance market, ensuring that this corporate will be around to reap the higher premiums that John Balmforth speaks of.
Tax paid Social Welfare to big companies and private investors, comes at the expense of the Social Insurance Policies that this money was supposed to provide for.
So when families are poorly housed and children get sick and their parents can’t afford the medical bills, and they get sicker. They can comfort their children, by relating to them the warm fuzzy fairy tale ending for AMI that Mum and Dad helped pay for.
“So darling the government propped up a bankrupt private insurance company, they did this by bankrupting the state, so despite your Mummy and Daddy and Grandma and Granddad paying taxes all their lives, that is the reason why you can’t get into the public hospital.”
With not even the flimsy excuse that AMI was part of the outrageous Deposit Guarantee scheme… What possible moral justification can the government give for this bailout?
I read 2 stories in Stuff’s Business section this morning on Tax Havens. The stories are not that prominent on the site, but they show a significant process that is part of the way the global financial/money system works to maintain and extend the wealth gap. The articles point to the way Tax Havens are an essential part of this system, Where the Rich… Get Richer:
BRITISH AUTHOR Nicholas Shaxson wants you to forget everything you think you know about tax havens. The author of Treasure Islands believes even calling them tax havens is a misnomer.
They should be called “obligation havens”, he says, because dodging tax is just one of many obligations the world’s rich and crooked avoid by using them.
…
But back to the the global financial crisis. Havens allowed toxic brews of subprime loans to be mixed, repackaged and sold away from the eyes of regulators, Shaxson said. They allowed companies to grow and take on vastly more risk than regulators realise because they could see only a part of the operations of multi-nationals such as Lehman Brothers.
Shaxson dismisses pro-haven cheerleaders who claim they keep politicians honest by capping the tax they can impose on their citizens. Tax havens are for the rich, the criminal and the powerful, and opposed to the interests of the rank and file of society, who can’t afford the lawyers, accountants and tax advisers to take advantage of them, he said.
This and the second article, on the NZ government’s opposition to a UN initiative to tackle tax haven abuse say that NZ is also being used as a tax haven by some of the wealthy in other countries.
Shaxson, who has become famous following the publication of Treasure Islands: Tax Havens and the Men Who Stole the World, said New Zealand is letting down the developing world.
He has also revealed that New Zealand has a growing reputation as an offshore haven itself. He predicts New Zealand will appear on the Tax Justice Network’s Financial Secrecy Index by 2013.
He has also revealed that New Zealand has a growing reputation as an offshore haven itself. He predicts New Zealand will appear on the Tax Justice Network’s Financial Secrecy Index by 2013.
Sounds like a nice little thing to pin on National / Key.
Lynn: the quote button is even more munted today, I can’t turn it off at all. It looks like you’ve changed how the enter key works – it used to insert a paragraph break (that could eventually stop the block quote), but now it only does line feeds and so can’t be used to break out of quote mode. I took your suggestion of selecting the text to be quoted and hitting the quote button, but it doesn’t work. Clicking the unquote button just unquotes the whole block.
Wikipedia – not necessarily the most reliable of sources – currently categorises NZ as a tax haven because it:
“…does not tax foreign income derived by NZ trusts settled by foreigners of which foreign residents are the beneficiaries. Nor does it tax the foreign income of new residents for four years. No capital gains tax.”
Should the tax reductions have been reversed because of the Christchurch earthquakes? No – it’s absurd to think that immediately an event occurs taxes are tweaked. At the very least it takes time to evaluate and implement significant monetary changes.
Should the tax reductions be reconsidered? Yes, this year’s budget is an appropriate time to announce any changes if they are thought necessary, but they are problematic, it’s unlikely the GST rate will be dropped back down, or taken off selected categories, so increasing taxes risks further stalling a struggling economy.
So you would rather wreck our public and social services then?
Tell me Peter, how many hospitals did National close between 1990-99 and how many did Labour close between 1999 and 2008?
Ill tell you. When labour put taxes up in 1999, the money went into HOSPITALS AND HEALTH CARE SERVICES. No hospital closed after 1999. But you are quite happy to have solo mother live on the street, and have American style health care so the rich can pay a few dollars less in tax.
And given that you have opposed wage increases for workers (I suppose you want wages to go back to 1999 levels like Don Brash does), you see a future of misery for people
But you are quite happy to have solo mother live on the street, and have American style health care so the rich can pay a few dollars less in tax.
Bullshit. I have never suggested anything like that.
* I support a fair welfare state.
* I have never mentioned an American style health system here, and have never supported an American style health system.
And given that you have opposed wage increases for workers
Bullshit again. I have never suggested anything like that. I have questioned why the amount of $15 per hour is being claimed to being some magical fix, I have never seen yet anyone justify that over any alternate amount. No data to support it.
Go and do some of your own research like you did the other day. There should be plenty on Union websites (try CTU for a start maybe). From memory the Unions want it pegged around 66% of the median wage which is more than $15.
$15 just happens to be the minimum wage in Oz, must have been suggested to close that gap 😀
Good on Ya Felix. I also see no point in replying to the repetitive time-wasting and frankly overly distractive slogans that are spewing from the right. Personally I want to concentrate on far more interesting events,
Like sharing the information that is already out there
Like getting every voter i know to not vote for any of the major parties
CERRA has a lot to answer for and I for one do not see the point in voting for people who voted against Democracy
I am beginning to believe NZ must sacrifice this election and send a very clear message to the troughers, shape up or piss off
I am fairly confident that the thousands and thousands of people who actually run the country will welcome the opportunity to do their job without seasoned MP’s constantly twisting the rules, changing the game-plan and generally shitting on NZ again and again and again
Pete, either we raise taxes to cover the shortfall in the budget now due to the earthquake, or we borrow the money.
If we borrow the money, we have to pay interest on it. The amount borrowed + the interest must be paid back at a future date, from taxes. So we either pay taxes on the principal now, or we pay taxes on the principal and interest over time.
Therefore refusing to raise taxes now, for this one-off event, will cost us more over time.
It would still require an increase in taxes so that the government can redirect our resources into fixing up that damaged by the disaster. As I’ve said, money is not a resource.
DTB,
I agree with you but to be honest I’d rather pay taxes towards helping the people in Christchurch and things Kiwi’s need than taxes to pay the banksters interest on money they created out of thin air.
It’s a tricky balancing act Lanthanide, with no guarantee that whatever is chose is the right mix. Taxing more runs the risk of stifling a recovery which runs the risk of lowering the tax take or keeping it low for longer.
It’s easy to say “we should raise taxes”, or “we should borrow more” (as Helen Kelly suggested on Q+A this morning), but those who make the decisions have a lot more complexities to consider.
And as Jon Johansson said on Q+A this morning this government is only pragmatic within its ideological straight jacket. The point being made that this government has ignored the complexities and is ruling out even temporary tax increases in favour of its ideologically based solutions.
There is very little evidence for the supply side nonsense you are peddling. Cuts run exactly the same risk you are talking about, so it’s a wash in that respect.
That point was reinforced in the discussion with English when he was talking about Treasury advice around the benefits of privatisation. Treas was saying that there is very little evidence that the private sector would run the companies any better, and Old Bill could only fall back on dogma.
It would be nice to think that this government was ‘considering the complexities’, but as the panel agreed on Q+A there are concerns that they are not, and little evidence that they are.
Don’t worry Jim Nald: The panel dealt to him afterwards. Good to see Helen Kelly on the panel and a ‘respectful’ Paul Holmes who didn’t interrupt her once.
I agree Anne. I nearly didn’t turn on the programme but figured there was not much else on for my morning cuppa! Holmes was much better by staying more in the background: I normally can’t stand his opinionated nonsense. Espiner asked harder questions than the usual patsy, but what was most interesting for me was English trotted out his usual ideological nonsense, but his eyes and general lack of enthusiasm suggested he no longer believed it.
but his eyes and general lack of enthusiasm suggested he no longer believed it.
Now that is interesting. Maybe he’s waking up to the fact that ideology doesn’t trump reality – it was his ideological plan that prevented NZ coming out of recession after all. Not that I’m holding my breath about it.
I dreaded checking out Q&A online and thought I might have needed to take some sedatives first (perhaps, like Holmes, who was administered some today before the cameras started rolling?) before viewing the Guyon-English interview: http://tvnz.co.nz/q-and-a-news/sunday-april-10-4108966/video
This lodge was in the news 3 years ago, there was a huge fuss over it Labour promised to do something about it, but then everything died down, and National got in, and people there still live in misery. And as rents skyrocket, and landlords get more choosy about what tenants they choose to house, and as Housing NZ wash there hands of more and more people, and start kicking more and more tenants out, squalid boarding houses, are going to grow and grow.
Housing Minister Phil Heatley said: “We’re there to help people who need a state house – not those who would like a state house.”
From the Herald article.
I am in a 2 bedroom State House, and I want a transfer, because although I need subsidised housing (on UB), I don’t need two bedrooms. But I am currently having a huge battle with HNZ over other issues, so a transfer is way down the list for me. Survival mode. Honestly any of the families in that article could have this place, if I had my way. But I am just managing to survive myself! I wish I could help one of those families. I wish even more, that the NACT government would do what it’s supposed and help all of them!
The National Government offer to bailout AMI to the tune of more than a Billion dollars. The privately owned company has had financial difficulty since the Christchurch Earthquake and improper re-insurance. In light of the South Canterbury Finance hash and despite the Treasury advising John Key that South Canterbury Finance was never compliant with the scheme…
Wendy Pye, NZ literacy entrepreneur, was on Chris Laidlaw on Radionz this morning. People like her should get listened to, she has been a business and educational plan success, has a good product doing good things around the world. that magic word ‘exporter’. Not ‘dairy producer’, but ‘advanced high-end products producer’.
She has an excellent take on NZ, business and the export market as she has been round long enough to have wide experience with successes and failures, and how to survive both. She is held at arms length by Min of Education though embraced by other achievement focussed governments. This seems to follow from what I see is a negative attitude amongst NZs to trying anything new, stepping out from the known. And one of the problems is that the bureaucrats and academics are concerned about dealing with private enterprise. I think they can’t differentiate between having Macdonalds sponsoring schools and successful, experienced non-religious or narrowly ideological companies focussed solely on educational tools.
I referred to NZ negativity in the waka controversy which idea suffered death from a thousand whiny criticisms from contributors here, ie I don’t like plastic, Maori can’t make good decisions about showing their culture. Wendy’s products appear to have received less than positive treatment probably with the same mindset. I thought also of Peter Snell, such a success but not embraced and drawn back to this country – he has been in Texas for years.
BTW Texas is planning a new wide-ranging project for literacy. Here at the bottom of the world we have tight-minded smug middle-class Ann Tolley whose low horizon is viewed from a entrenched trench, choosing National Standards as her lead initiative in schools. Yet Wendy Pye points out our good record in literacy, the problem being the large ‘tail’ of non-readers, prevented from obtaining worthwhile work and achieving prosperity by their lack of literacy, and that most of our jail inmates bear this disadvantage.
Yeah, but I found myself getting increasingly bored as Laidlaw and Pye started going on endlessly about the alleged ‘tall-poppy syndrome’ in this Country. The same old scolding of the New Zealand public for not treating entrepreneurs as some sort of Super-Heroes. Yawwwwnnnnn.
The Mainfreight genius talking on the Dimpost wants less bureaucracy and regulation. Isn’t that firm where sweet Jenny Shipley presides? Pollies from NACT get consolation so often with the old saying ‘When one door closes, another opens’ don’t they?
D..Damn
You may be tired of the tall poppy syndrome being mentioned but facing it becomes more relevant as we move through the decade and I think it is time for a change.
We need to be as supportive of our entrepreneurs and successful projects of all types that are beneficial to the country, as we are of sports people. They work hard to help themselves trying for personal success; sound, innovative businesses that achieve success help the country.
But nor should we forget the people who enable them to achieve that success. We shouldn’t enable entrepreneurs to succeed at the expense of their employees’ rights to fair pay and fair treatment for fair work.
I have always approved Mat McCartens opinions and I admire the way he overcame a bad speech impediment .However these days he seems to spend more time attacking the Labour Party and in particular Phil Goff. What the hell is he playing at? The enemy is the Tory Party.,The only conclusion I can come up with is that there is a personal vendeta going on with Phil,Goff.Get back on Board Matt its going to be hard enough to win the next election with out you attacking Labour at every opportunity .
The enemy is the Tory Party.
Seems that the purpose of having a Labour Party is to enable people on low to average wages to earn sufficient to have a full life, and bring in country-wide policies that are good for all. To get this requires that Labour wins, but merely winning is not enough for a left-wing party to achieve – the policies, the direction, the vision, the problem-solving need to follow.
So, if Labour get roughly their current level of support (low 30’s) could there be only one or two new list MPs? (plus several from “safe” electorate seats?)
It doesn’t look very inspiring – no noticeable new names apart from Andrew Little. If Labour lose, there’s going to be a big clear out for 2014 (Barker, Horomia, King, Mallard, Goff etc).
At the time of writing, The Poll on that page puts Lab/G/NZ1 combined vote of 387 higher than M/UF/ACT/Nat 316.
Ideally that would be indicative of the long term trend. Lets see what One News has to say tonight on their poll.
Actually, the Labour list looks to me like a reasonable mix of relative newbies (class of 2008) and experienced MPs. It looks like there is a gradual turn-over of new MPs, which is for the best, rather than a radical clean-out of ALL the old hands.
When are people going to start complaining about foreign banks deciding our economic future for us? Saturday, 9 April 2011, 2:26 pm Press Release: The Nation‘THE NATION’
GEORGE FRAZIS – Westpac New Zealand CEO Interviewed by DUNCAN GARNER
Duncan Let’s talk about the state of the economy in the wake of the AMI decision and how does the country afford this rescue package and the bail out of South Canterbury Finance for that matter? Well some say we can’t afford it and we can’t afford to keep bailing out bad business decisions, they say if we do we’ll go broke. So how close are we to going broke? The Chief Executive of Westpac New Zealand George Frazis is with me now.
There’s a small baby step each Kiwi can make for a real difference –
Walk away from foreign banks
And put money into locally owned banks like TSB Bank and Kiwibank
Go on. Do it now.
Open an account with http://www.tsbbank.co.nz or http://www.kiwibank.co.nz,
then move funds and mortgage into either.
I don’t think National have done anything to suggest they would try and privatise Kiwibank. Remember, this is a voter cautious, slow action or no action government. Any proposed asset sales are likely to clearly signposted pre election. If Labour have a strategy of vehemently opposing a modest number of partial asset sales it may reinforce the perception they are just exaggeration junkies.
Actually, vehement is not the best description, passion and enthusiasm may be wrongly inferred – going through the motions of loudly protesting for the sake of it may be more appropriate.
http://www.stuff.co.nz/national/politics/562746
2008 – and since then Key has had to categorically deny they’d sell while he is PM
“Mr English refers to the voters’ view of “that nice man John Key” and his appeal to “Labour-plus” voters – people who believed National would let them keep all Labour’s money, with more on top.
He also refers to needing to “sort out” Working for Families and suggests National will sell Kiwibank “eventually, but not now”.”
That is well worth the read and so very close to the truth. We’re expected to worship the businessmen whether they’re capable of what’s expected of them or not.
Paula Bennett on people having to go through a budgeting exercise before applying for a hardship grant:
“They could go online and fill out a budgeting form”
Right, like all Decile 1 households have a computer. What fucking planet is she on?
Two intrepid dudes encounter stray animals, torn apart roads and deserted settlements as they film their trip to measure the radiation from 30 km out to 1.5 km away from Fukushima.
“They’re banging porn stars and you’re getting the crabs”
“While the Republicans, the party of millionaires, is shutting the government down because they can’t have a tax-free world. As Paul Ryan says, ‘It’s not a budget it’s a cause’, like slavery…”
When will The Standard email me the bank account number so that I can make monthly cash donations?
Will be good to be provided with a pdf version of “best of the week’s” posts (maybe including comments from others) so that they can be printed on A3 or A4.
I would be willing to stand at street corners or outside supermarkets for a few hours on Fri-Sun and sell them (with money being deposited back into The Standard’s bank account) or to give away. The point is to encourage the wider dissemination of the issues raised by TS.
Whadyareckon?
Will be good to be provided with a pdf version of “best of the week’s” posts (maybe including comments from others) so that they can be printed on A3 or A4.
This has been commented on before – you’re quite welcome to put one together. I believe others already do pass out copies.
Guess I can just copy and paste or print out separate, selected pieces but
I’d prefer to have an official or endorsed pdf version for hard copies to be printed …
It’s amazing to think that I was born into a republican, conservative, christian, homeschooling family in the middle of the Bible Belt. How far I’ve come since then. After learning more about the world, and having to actually work for a living, I have rejected all of the economic philosophies that I was taught as part of that community. If there is one thing I have learned, it’s that the only true lazy, corrupt welfare queens living off of handouts are believers in conservative economics.
Yes Draco, scrolled down and read that particular comment and it wondered how many more peiople were coming to the same realisation in America.
Still, I think it’s going to take maybe 50% of Ameicans on food stamps before they’re angry enough to do something about it and figuratively eviserate the GOPlets.
You know M, it is amazing that in the wealthiest country in the world they appear to not understand the disaster of their own Health system. The strange story from the “pole-axed Rethuglican” that the British Health System was and example of failure because “his sister couldn’t get an epidural because they thought she was too fit.” Aha. There you have it if the Brit Health system don’t want to give you an epidural so the System is a complete failure. Huh?
I think NZ has one of the least expensive with the finest effectiveness in the World. (Unless you believe it when Tony Ryall that it is a disaster.)
Yes ianmac, NZ’s system isn’t perfect and there are medical disasters that make my blood boil but I’d rather have “socialist” health care than the bloated, corrupt and “loaded dice” system where every possible avenue is explored to turn down a legitimate insurance claim.
I also believe the epidural refusal was if not a complete fabrication then a definite stretching of the truth. Having had epidurals for both my kids as I had a 20-hour and a 12-hour labour there are few situations where a woman cannot have one provided there is time and I would hope that most obstetricians would not be so sadistic as to refuse one. Even if a woman is chided about having one she should go all out to have one if she wants it – screaming down the birthing ward would probably be enough to convince a reluctant doctor.
When my youngest was born she had a ABO incompatibilty problem and the treatment she received in neonatal was first class. I hate to imagine what parents in the US would pay for such treatment although I’m sure Tony and his mob are working overtime to bring about such a situation.
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Buzz from the Beehive Pharmac has been given a financial transfusion and a new chair to oversee its spending in the pharmaceutical business. Associate Health Minister David Seymour described the funding for Pharmac as “its largest ever budget of $6.294 billion over four years, fixing a $1.774 billion fiscal cliff”. ...
Bryce Edwards writes – Many criticisms are being made of the Government’s Fast Track Approvals Bill, including by this writer. But as with everything in politics, every story has two sides, and both deserve attention. It’s important to understand what the Government is trying to achieve and its ...
TL;DR: Here’s my top 10 ‘pick ‘n’ mix of links to news, analysis and opinion articles as of 10:10am on Monday, April 29:Scoop: The children's ward at Rotorua Hospital will be missing a third of its beds as winter hits because Te Whatu Ora halted an upgrade partway through to ...
span class=”dropcap”>As hideous as David Seymour can be, it is worth keeping in mind occasionally that there are even worse political figures (and regimes) out there. Iran for instance, is about to execute the country’s leading hip hop musician Toomaj Salehi, for writing and performing raps that “corrupt” the nation’s ...
Yesterday marked 10 years since the first electric train carried passengers in Auckland so it’s a good time to look back at it and the impact it has had. A brief history The first proposals for rail electrification in Auckland came in the 1920’s alongside the plans for earlier ...
Right now, in Aotearoa-NZ, our ‘animal spirits’ are darkening towards a winter of discontent, thanks at least partly to a chorus of negative comments and actions from the Government Photo: Lynn Grieveson / The KākāTL;DR: These are the six things that stood out to me in news and commentary on ...
You make people evil to punish the paststuck inside a sequel with a rotating castThe following photos haven’t been generated with AI, or modified in any way. They are flesh and blood, human beings. On the left is Galatea Young, a young mum, and her daughter Fiadh who has Angelman ...
April has been a quiet month at A Phuulish Fellow. I have had an exceptionally good reading month, and a decently productive writing month – for original fiction, anyway – but not much has caught my eye that suggested a blog article. It has been vaguely frustrating, to be honest. ...
A listing of 31 news and opinion articles we found interesting and shared on social media during the past week: Sun, April 21, 2024 thru Sat, April 27, 2024. Story of the week Anthropogenic climate change may be the ultimate shaggy dog story— but with a twist, because here ...
Hi,I spent about a year on Webworm reporting on an abusive megachurch called Arise, and it made me want to stab my eyes out with a fork.I don’t regret that reporting in 2022 and 2023 — I am proud of it — but it made me angry.Over three main stories ...
The new Victoria University Vice-Chancellor decided to have a forum at the university about free speech and academic freedom as it is obviously a topical issue, and the Government is looking at legislating some carrots or sticks for universities to uphold their obligations under the Education and Training Act. They ...
Do you remember when Melania Trump got caught out using a speech that sounded awfully like one Michelle Obama had given? Uncannily so.Well it turns out that Abraham Lincoln is to Winston Peters as Michelle was to Melania. With the ANZAC speech Uncle Winston gave at Gallipoli having much in ...
She was born 25 years ago today in North Shore hospital. Her eyes were closed tightly shut, her mouth was silently moving. The whole theatre was all quiet intensity as they marked her a 2 on the APGAR test. A one-minute eternity later, she was an 8. The universe was ...
Skeptical Science is partnering with Gigafact to produce fact briefs — bite-sized fact checks of trending claims. This fact brief was written by Sue Bin Park in collaboration with members from our Skeptical Science team. You can submit claims you think need checking via the tipline. Is Antarctica gaining land ice? ...
Images of US students (and others) protesting and setting up tent cities on US university campuses have been broadcast world wide and clearly demonstrate the growing rifts in US society caused by US policy toward Israel and Israel’s prosecution of … Continue reading → ...
Barrie Saunders writes – Dear Paul As the new Minister of Media and Communications, you will be inundated with heaps of free advice and special pleading, all in the national interest of course. For what it’s worth here is my assessment: Traditional broadcasting free to air content through ...
Many criticisms are being made of the Government’s Fast Track Approvals Bill, including by this writer. But as with everything in politics, every story has two sides, and both deserve attention. It’s important to understand what the Government is trying to achieve and its arguments for such a bold reform. ...
Peter Dunne writes – The great nineteenth British Prime Minister, William Gladstone, once observed that “the first essential for a Prime Minister is to be a good butcher.” When a later British Prime Minister, Harold Macmillan, sacked a third of his Cabinet in July 1962, in what became ...
Ele Ludemann writes – New Zealanders had the OECD’s second highest tax increase last year: New Zealanders faced the second-biggest tax raises in the developed world last year, the Organisation for Economic Cooperation and Development (OECD) says. The intergovernmental agency said the average change in personal income tax ...
We all know something’s not right with our elections. The spread of misinformation, people being targeted with soundbites and emotional triggers that ignore the facts, even the truth, and influence their votes.The use of technology to produce deep fakes. How can you tell if something is real or not? Can ...
This video includes conclusions of the creator climate scientist Dr. Simon Clark. It is presented to our readers as an informed perspective. Please see video description for references (if any). This year you will be lied to! Simon Clark helps prebunk some misleading statements you'll hear about climate. The video includes ...
It is all very well cutting the backrooms of public agencies but it may compromise the frontlines. One of the frustrations of the Productivity Commission’s 2017 review of universities is that while it observed that their non-academic staff were increasing faster than their academic staff, it did not bother to ...
Buzz from the Beehive Two speeches delivered by Foreign Affairs Minister Winston Peters at Anzac Day ceremonies in Turkey are the only new posts on the government’s official website since the PM announced his Cabinet shake-up. In one of the speeches, Peters stated the obvious: we live in a troubled ...
1. Which of these would you not expect to read in The Waikato Invader?a. Luxon is here to do business, don’t you worry about thatb. Mr KPI expects results, and you better believe itc. This decisive man of action is getting me all hot and excitedd. Melissa Lee is how ...
…it has a restricted jurisdiction which must not be abused: it is not an inquisitionNOTE – this article was published before the High Court ruled that Karen Chhour does not have to appear before the Waitangi Tribunal Gary Judd writes – The High Court ...
Lindsay Mitchell writes – One of reasons Oranga Tamariki exists is to prevent child neglect. But could the organisation itself be guilty of the same?Oranga Tamariki’s statistics show a decrease in the number and age of children in care. “There are less children ...
David Farrar writes: Graeme Edgeler wrote in 2017: In the first five years after three strikes came into effect 5248 offenders received a ‘first strike’ (that is, a “stage-1 conviction” under the three strikes sentencing regime), and 68 offenders received a ‘second strike’. In the five years prior to ...
Bryce Edwards writes – Prime Minister Christopher Luxon has surprised everyone with his ruthlessness in sacking two of his ministers from their crucial portfolios. Removing ministers for poor performance after only five months in the job just doesn’t normally happen in politics. That’s refreshing and will be extremely ...
TL;DR: These are the six things that stood out to me in news and commentary on Aotearoa-NZ’s political economy in the two days to 6:06am on Thursday, April 25:Politics: PM Christopher Luxon has set up a dual standard for ministerial competence by demoting two National Cabinet ministers while leaving also-struggling ...
Hi,Today I mainly want to share some of your thoughts about the recent piece I wrote about success and failure, and the forces that seemingly guide our lives. But first, a quick bit of housekeeping: I am doing a Webworm popup in Los Angeles on Saturday May 11 at 2pm. ...
It is hard to see what Melissa Lee might have done to “save” the media. National went into the election with no public media policy and appears not to have developed one subsequently. Lee claimed that she had prepared a policy paper before the election but it had been decided ...
Open access notablesIce acceleration and rotation in the Greenland Ice Sheet interior in recent decades, Løkkegaard et al., Communications Earth & Environment:In the past two decades, mass loss from the Greenland ice sheet has accelerated, partly due to the speedup of glaciers. However, uncertainty in speed derived from satellite products ...
Buzz from the Beehive A statement from Children’s Minister Karen Chhour – yet to be posted on the Government’s official website – arrived in Point of Order’s email in-tray last night. It welcomes the High Court ruling on whether the Waitangi Tribunal can demand she appear before it. It does ...
Mr Bombastic:Ironically, the media the academic experts wanted is, in many ways, the media they got. In place of the tyrannical editors of yesteryear, advancing without fear or favour the interests of the ruling class; the New Zealand news media of today boasts a troop of enlightened journalists dedicated to ...
It's hard times try to make a livingYou wake up every morning in the unforgivingOut there somewhere in the cityThere's people living lives without mercy or pityI feel good, yeah I'm feeling fineI feel better then I have for the longest timeI think these pills have been good for meI ...
In 1974, the US Supreme Court issued its decision in United States v. Nixon, finding that the President was not a King, but was subject to the law and was required to turn over the evidence of his wrongdoing to the courts. It was a landmark decision for the rule ...
Every day now just seems to bring in more fresh meat for the grinder.In their relentlessly ideological drive to cut back on the “excessive bloat” (as they see it) of the previous Labour-led government, on the mountains of evidence accumulated in such a short period of time do not ...
This is a re-post from Yale Climate Connections by Megan Valére SosouMarket gardening site of the Itchèléré de Itagui agricultural cooperative in Dassa-Zoumè (Image credit: Megan Valère Sossou) For the residents of Dassa-Zoumè, a city in the West African country of Benin, choosing between drinking water and having enough ...
Buzz from the Beehive Melissa Lee – as may be discerned from the screenshot above – has not been demoted for doing something seriously wrong as Minister of ...
Labour is calling for the Government to urgently rethink its coalition commitment to restart live animal exports, Labour animal welfare spokesperson Rachel Boyack said. ...
Today’s Financial Stability Report has once again highlighted that poverty and deep inequality are political choices - and this Government is choosing to make them worse. ...
The Green Party is calling on the Government to do more for our households in most need as unemployment rises and the cost of living crisis endures. ...
Unemployment is on the rise and it’s only going to get worse under this Government, Labour finance spokesperson Barbara Edmonds said. Stats NZ figures show the unemployment rate grew to 4.3 percent in the March quarter from 4 percent in the December quarter. “This is the second rise in unemployment ...
The New Zealand Labour Party welcomes the entering into force of the European Union and New Zealand free trade agreement. This agreement opens the door for a huge increase in trade opportunities with a market of 450 million people who are high value discerning consumers of New Zealand goods and ...
The National-led Government continues its fiscal jiggery pokery with its Pharmac announcement today, Labour Health spokesperson Ayesha Verrall says. “The government has increased Pharmac funding but conceded it will only make minimal increases in access to medicine”, said Ayesha Verrall “This is far from the bold promises made to fund ...
This afternoon’s interim Waitangi Tribunal report must be taken seriously as it affects our most vulnerable children, Labour children’s spokesperson Willow-Jean Prime. ...
Te Pāti Māori are demanding the New Zealand Government support an international independent investigation into mass graves that have been uncovered at two hospitals on the Gaza strip, following weeks of assault by Israeli troops. Among the 392 bodies that have been recovered, are children and elderly civilians. Many of ...
Our two-tiered system for veterans’ support is out of step with our closest partners, and all parties in Parliament should work together to fix it, Labour veterans’ affairs spokesperson Greg O’Connor said. ...
Stripping two Ministers of their portfolios just six months into the job shows Christopher Luxon’s management style is lacking, Labour Leader Chris Hipkins said. ...
Tonight’s court decision to overturn the summons of the Children’s Minister has enabled the Crown to continue making decisions about Māori without evidence, says Te Pāti Māori spokesperson for Children, Mariameno Kapa-Kingi. “The judicial system has this evening told the nation that this government can do whatever they want when ...
It appears Nicola Willis is about to pull the rug out from under the feet of local communities still dealing with the aftermath of last year’s severe weather, and local councils relying on funding to build back from these disasters. ...
The Government is making short-sighted changes to the Resource Management Act (RMA) that will take away environmental protection in favour of short-term profits, Labour’s environment spokesperson Rachel Brooking said today. ...
Labour welcomes the release of the report into the North Island weather events and looks forward to working with the Government to ensure that New Zealand is as prepared as it can be for the next natural disaster. ...
The Labour Party has called for the New Zealand Government to recognise Palestine, as a material step towards progressing the two-State solution needed to achieve a lasting peace in the region. ...
Some of our country’s most important work, stopping the sexual exploitation of children and violent extremism could go along with staff on the frontline at ports and airports. ...
The Government’s Fast Track Approvals Bill will give projects such as new coal mines a ‘get out of jail free’ card to wreak havoc on the environment, Labour Leader Chris Hipkins said today. ...
The government's decision to reintroduce Three Strikes is a destructive and ineffective piece of law-making that will only exacerbate an inherently biased and racist criminal justice system, said Te Pāti Māori Justice Spokesperson, Tākuta Ferris, today. During the time Three Strikes was in place in Aotearoa, Māori and Pasifika received ...
Cuts to frontline hospital staff are not only a broken election promise, it shows the reckless tax cuts have well and truly hit the frontline of the health system, says Labour Health spokesperson Ayesha Verrall. ...
The Green Party has joined the call for public submissions on the fast-track legislation to be extended after the Ombudsman forced the Government to release the list of organisations invited to apply just hours before submissions close. ...
New Zealand’s good work at reducing climate emissions for three years in a row will be undone by the National government’s lack of ambition and scrapping programmes that were making a difference, Labour Party climate spokesperson Megan Woods said today. ...
More essential jobs could be on the chopping block, this time Ministry of Education staff on the school lunches team are set to find out whether they're in line to lose their jobs. ...
Te Pāti Māori is disgusted at the confirmation that hundreds are set to lose their jobs at Oranga Tamariki, and the disestablishment of the Treaty Response Unit. “This act of absolute carelessness and out of touch decision making is committing tamariki to state abuse.” Said Te Pāti Māori Oranga Tamariki ...
The Government is trying to bring in a law that will allow Ministers to cut corners and kill off native species, Labour environment spokesperson Rachel Brooking said. ...
Cancelling urgently needed new Cook Strait ferries and hiking the cost of public transport for many Kiwis so that National can announce the prospect of another tunnel for Wellington is not making good choices, Labour Transport Spokesperson Tangi Utikere said. ...
A laundry list of additional costs for Tāmaki Makarau Auckland shows the Minister for the city is not delivering for the people who live there, says Labour Auckland Issues spokesperson Shanan Halbert. ...
Te Pāti Māori co-leader Rawiri Waititi, and Mema Paremata mō Tāmaki-Makaurau, Takutai Tarsh Kemp, will travel to the Gold Coast to strengthen ties with Māori in Australia next week (15-21 April). The visit, in the lead-up to the 9th Australian National Kapa haka Festival, will be an opportunity for both ...
The Green Party has today launched a step-by-step guide to help New Zealanders make their voice heard on the Government’s democracy dodging and anti-environment fast track legislation. ...
New Zealand lost a true legend when internationally renowned disability advocate Sir Robert Martin (KNZM) passed away at his home in Whanganui last night, Disabilities Issues Minister Louise Upston says. “Our Government’s thoughts are with his wife Lynda, family and community, those he has worked with, the disability community in ...
Good evening – Before discussing the challenges and opportunities facing New Zealand’s foreign policy, we’d like to first acknowledge the New Zealand Institute of International Affairs. You have contributed to debates about New Zealand foreign policy over a long period of time, and we thank you for hosting us. ...
From today, passengers travelling internationally from Auckland Airport will be able to keep laptops and liquids in their carry-on bags for security screening thanks to new technology, Transport Minister Simeon Brown says. “Creating a more efficient and seamless travel experience is important for holidaymakers and businesses, enabling faster movement through ...
People with an interest in the health of Northland’s marine ecosystems are invited to a public meeting to discuss how to deal with kina barrens, Oceans and Fisheries Minister Shane Jones says. Mr Jones will lead the discussion, which will take place on Friday, 10 May, at Awanui Hotel in ...
Kiwi exporters are $100 million better off today with the NZ EU FTA entering into force says Trade Minister Todd McClay. “This is all part of our plan to grow the economy. New Zealand's prosperity depends on international trade, making up 60 per cent of the country’s total economic activity. ...
There are heartening signs that the extractive sector is once again becoming an attractive prospect for investors and a source of economic prosperity for New Zealand, Resources Minister Shane Jones says. “The beginnings of a resurgence in extractive industries are apparent in media reports of the sector in the past ...
The return of the historic Ō-Rākau battle site to the descendants of those who fought there moved one step closer today with the first reading of Te Pire mō Ō-Rākau, Te Pae o Maumahara / The Ō-Rākau Remembrance Bill. The Bill will entrust the 9.7-hectare battle site, five kilometres west ...
Energy Minister Simeon Brown has announced 25 new high-speed EV charging hubs along key routes between major urban centres and outlined the Government’s plan to supercharge New Zealand’s EV infrastructure. The hubs will each have several chargers and be capable of charging at least four – and up to 10 ...
The coalition Government will not proceed with the previous Government’s plans to regulate residential property managers, Housing Minister Chris Bishop says. “I have written to the Chairperson of the Social Services and Community Committee to inform him that the Government does not intend to support the Residential Property Managers Bill ...
The Government has announced an independent review into the disability support system funded by the Ministry of Disabled People – Whaikaha. Disability Issues Minister Louise Upston says the review will look at what can be done to strengthen the long-term sustainability of Disability Support Services to provide disabled people and ...
Justice Minister Paul Goldsmith has attended the Universal Periodic Review in Geneva and outlined the Government’s plan to restore law and order. “Speaking to the United Nations Human Rights Council provided us with an opportunity to present New Zealand’s human rights progress, priorities, and challenges, while responding to issues and ...
The Government and Rotorua Lakes Council are committed to working closely together to end the use of contracted emergency housing motels in Rotorua. Associate Minister of Housing (Social Housing) Tama Potaka says the Government remains committed to ending the long-term use of contracted emergency housing motels in Rotorua by the ...
Trade Minister Todd McClay heads overseas today for high-level trade talks in the Gulf region, and a key OECD meeting in Paris. Mr McClay will travel to Riyadh to meet with counterparts from Saudi Arabia and the Gulf Cooperation Council (GCC). “New Zealand’s goods and services exports to the Gulf region ...
Education Minister Erica Stanford has outlined six education priorities to deliver a world-leading education system that sets Kiwi kids up for future success. “I’m putting ambition, achievement and outcomes at the heart of our education system. I want every child to be inspired and engaged in their learning so they ...
The new NZ Transport Agency (NZTA) App is a secure ‘one stop shop’ to provide the services drivers need, Transport Minister Simeon Brown and Digitising Government Minister Judith Collins say. “The NZTA App will enable an easier way for Kiwis to pay for Vehicle Registration and Road User Charges (RUC). ...
Whānau with tamariki growing up in emergency housing motels will be prioritised for social housing starting this week, says Associate Housing Minister Tama Potaka. “Giving these whānau a better opportunity to build healthy stable lives for themselves and future generations is an essential part of the Government’s goal of reducing ...
Racing Minister Winston Peters has paid tribute to an icon of the industry with the recent passing of Dave O’Sullivan (OBE). “Our sympathies are with the O’Sullivan family with the sad news of Dave O’Sullivan’s recent passing,” Mr Peters says. “His contribution to racing, initially as a jockey and then ...
Assalaamu alaikum, greetings to you all. Eid Mubarak, everyone! I want to extend my warmest wishes to you and everyone celebrating this joyous occasion. It is a pleasure to be here. I have enjoyed Eid celebrations at Parliament before, but this is my first time joining you as the Minister ...
Associate Health Minister David Seymour has announced Pharmac’s largest ever budget of $6.294 billion over four years, fixing a $1.774 billion fiscal cliff. “Access to medicines is a crucial part of many Kiwis’ lives. We’ve committed to a budget allocation of $1.774 billion over four years so Kiwis are ...
Hon Paula Bennett has been appointed as member and chair of the Pharmac board, Associate Health Minister David Seymour announced today. "Pharmac is a critical part of New Zealand's health system and plays a significant role in ensuring that Kiwis have the best possible access to medicines,” says Mr Seymour. ...
Hundreds of New Zealand families affected by Fetal Alcohol Spectrum Disorder (FASD) will benefit from a new Government focus on prevention and treatment, says Health Minister Dr Shane Reti. “We know FASD is a leading cause of preventable intellectual and neurodevelopmental disability in New Zealand,” Dr Reti says. “Every day, ...
Regional Development Minister Shane Jones today attended the official opening of Kaikohe’s new $14.7 million sports complex. “The completion of the Kaikohe Multi Sports Complex is a fantastic achievement for the Far North,” Mr Jones says. “This facility not only fulfils a long-held dream for local athletes, but also creates ...
Foreign Minister Winston Peters’ engagements in Türkiye this week underlined the importance of diplomacy to meet growing global challenges. “Returning to the Gallipoli Peninsula to represent New Zealand at Anzac commemorations was a sombre reminder of the critical importance of diplomacy for de-escalating conflicts and easing tensions,” Mr Peters ...
Ambassador Millar, Burgemeester, Vandepitte, Excellencies, military representatives, distinguished guests, ladies and gentlemen – good morning and welcome to this sacred Anzac Day dawn service. It is an honour to be here on behalf of the Government and people of New Zealand at Buttes New British Cemetery, Polygon Wood – a deeply ...
Distinguished guests - It is an honour to return once again to this site which, as the resting place for so many of our war-dead, has become a sacred place for generations of New Zealanders. Our presence here and at the other special spaces of Gallipoli is made ...
Mai ia tawhiti pamamao, te moana nui a Kiwa, kua tae whakaiti mai matou, ki to koutou papa whenua. No koutou te tapuwae, no matou te tapuwae, kua honoa pumautia. Ko nga toa kua hinga nei, o te Waipounamu, o te Ika a Maui, he okioki tahi me o ...
Paul Goldsmith will take on responsibility for the Media and Communications portfolio, while Louise Upston will pick up the Disability Issues portfolio, Prime Minister Christopher Luxon announced today. “Our Government is relentlessly focused on getting New Zealand back on track. As issues change in prominence, I plan to adjust Ministerial ...
Recreational catch limits will be reduced in areas of Fiordland and the Chatham Islands to help keep those fisheries healthy and sustainable, Oceans and Fisheries Minister Shane Jones says. The lower recreational daily catch limits for a range of finfish and shellfish species caught in the Fiordland Marine Area and ...
Energy Minister Simeon Brown has welcomed an important milestone in New Zealand’s hydrogen future, with the opening of the country’s first network of hydrogen refuelling stations in Wiri. “I want to congratulate the team at Hiringa Energy and its partners K one W one (K1W1), Mitsui & Co New Zealand ...
The coalition Government is delivering on its commitment to improve resource management laws and give greater certainty to consent applicants, with a Bill to amend the Resource Management Act (RMA) expected to be introduced to Parliament next month. RMA Reform Minister Chris Bishop has today outlined the first RMA Amendment ...
Overseas models for regulating the oil and gas sector, including their decommissioning regimes, are being carefully scrutinised as a potential template for New Zealand’s own sector, Resources Minister Shane Jones says. The Coalition Government is focused on rebuilding investor confidence in New Zealand’s energy sector as it looks to strengthen ...
Emergency Management and Recovery Minister Mark Mitchell has today released the Report of the Government Inquiry into the response to the North Island Severe Weather Events. “The report shows that New Zealand’s emergency management system is not fit-for-purpose and there are some significant gaps we need to address,” Mr Mitchell ...
Justice Minister Paul Goldsmith is today travelling to Europe where he’ll update the United Nations Human Rights Council on the Government’s work to restore law and order. “Attending the Universal Periodic Review in Geneva provides us with an opportunity to present New Zealand’s human rights progress, priorities, and challenges, while ...
Associate Agriculture Minister, Mark Patterson, formally reopened the world’s largest wool processing facility today in Awatoto, Napier, following a $50 million rebuild and refurbishment project. “The reopening of this facility will significantly lift the economic opportunities available to New Zealand’s wool sector, which already accounts for 20 per cent of ...
Hon Andrew Bayly, Minister for Small Business and Manufacturing At the Southland Otago Regional Engineering Collective (SOREC) Summit, 18 April, Dunedin Ngā mihi nui, Ko Andrew Bayly aho, Ko Whanganui aho Good Afternoon and thank you for inviting me to open your summit today. I am delighted ...
The Government is delivering on its commitment to bring back the Three Strikes legislation, Associate Justice Minister Nicole McKee announced today. “Our Government is committed to restoring law and order and enforcing appropriate consequences on criminals. We are making it clear that repeat serious violent or sexual offending is not ...
Foreign Minister Winston Peters has today announced four new diplomatic appointments for New Zealand’s overseas missions. “Our diplomats have a vital role in maintaining and protecting New Zealand’s interests around the world,” Mr Peters says. “I am pleased to announce the appointment of these senior diplomats from the ...
New Zealand is contributing NZ$7 million to support communities affected by severe food insecurity and other urgent humanitarian needs in Ethiopia and Somalia, Foreign Minister Rt Hon Winston Peters announced today. “Over 21 million people are in need of humanitarian assistance across Ethiopia, with a further 6.9 million people ...
Minister for Arts, Culture and Heritage Paul Goldsmith is congratulating Mataaho Collective for winning the Golden Lion for best participant in the main exhibition at the Venice Biennale. "Congratulations to the Mataaho Collective for winning one of the world's most prestigious art prizes at the Venice Biennale. “It is good ...
The Government is reforming financial services to improve access to home loans and other lending, and strengthen customer protections, Commerce and Consumer Affairs Minister Andrew Bayly and Housing Minister Chris Bishop announced today. “Our coalition Government is committed to rebuilding the economy and making life simpler by cutting red tape. We are ...
Rongotai MP Julie Anne Genter has apologised in Parliament after National accused her of intimidating and attacking one of its ministers in the House. ...
Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra The Prime Minister and state and territory leaders met on Wednesday as the national cabinet to discuss a crisis gripping Australia – the horrific number of women murdered this year. The killings have shocked ...
Source: The Conversation (Au and NZ) – By Radhika Raghav, Teaching Fellow, School of Humanities and Social Sciences, University of Otago Netflix Indian director Sanjay Leela Bhansali is known for his big-budget Bollywood production, featuring grand sets, star casts, meticulously choreographed dance sequences and lavish costumes, jewellery and furnishings. ...
Sir Robert devoted his life to disability rights after living in institutions in his younger years, says Kaihautū Tika Hauātanga | Disability Rights Commissioner Prudence Walker. ...
Source: The Conversation (Au and NZ) – By Anastasia Powell, Professor, Family and Sexual Violence, RMIT University Violence against women is not a women’s problem to solve, it is a whole of society problem to solve; and men in particular have to take responsibility. Those were the ...
Source: The Conversation (Au and NZ) – By Jessica Allen, Senior Lecturer in Chemical and Renewable Energy Engineering, University of Newcastle Snapshot freddy/ShutterstockPlans to revive an old coal-fired power station using bioenergy are being considered in the Hunter region of New South Wales. Similar plans for the station ...
Responding to the long-awaited release of judges’ special allowances, including free air travel and hotels for spouses, generous sabbaticals, and access to limousines, Taxpayers’ Union spokesman Alex Murphy said: “In what world does your employer ...
Analysis - The United States has unveiled plans to boost the weapons trade with Australia and the UK, on the same day that Winston Peters is expected to sketch NZ's position on AUKUS. ...
Source: The Conversation (Au and NZ) – By Andrea Carson, Professor of Political Communication, Department of Politics, Media and Philosophy, La Trobe University Since Australia’s First Nations Voice to Parliament referendum in October 2023, diverse commentaries have sought to explain why it failed. But what does an analysis of media ...
Lawyers representing two iwi as well as the Māori Women’s Welfare League on Wednesday asked the Court of Appeal to overturn last week’s High Court decision on the Waitangi Tribunal’s decision to summons Children’s Minister Karen Chhour. The Tribunal is currently investigating the Government’s decision to repeal section 7AA of ...
Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra The Albanese government will introduce legislation to ban deepfake pornography and provide more funding for the eSafety Commission to pilot age-assurance technologies. The contribution of internet sites to gender-based violence was one major issue ...
Average ordinary time hourly earnings, as measured by the Quarterly Employment Survey (QES), increased 5.2 percent in the year to the March 2024 quarter, according to figures released by Stats NZ today. Annual wage cost inflation, as measured by the ...
Source: The Conversation (Au and NZ) – By Dimitrios Salampasis, FinTech Capability Lead | Senior Lecturer, Emerging Technologies and FinTech, Swinburne University of Technology Clem Onojeghuo/Unsplash In the digital era, the job market is increasingly becoming a minefield – demanding and difficult to navigate. According to the Australian Bureau ...
As of the March 2024 quarter, we can now look back on 20 years of data related to youth not in employment, education, or training (NEET), as collected by the Household Labour Force Survey (HLFS), according to figures released by Stats NZ today. "The ...
Thousands of workers attended public events in Auckland, Wellington and Christchurch today to celebrate International Workers’ Day (May Day), but union representatives are urging caution and vigilance over the Government’s blatantly "anti-worker" ...
The seasonally adjusted unemployment rate was 4.3 percent in the March 2024 quarter, compared with 4.0 percent in the previous quarter, according to figures released by Stats NZ today. ...
The PSA is warning the Government that the sensitive information of New Zealanders held by various agencies will fall into the wrong hands if the latest round of proposed cuts goes ahead. ...
Source: The Conversation (Au and NZ) – By Talitha Best, Professor of Psychology, CQUniversity Australia Victoria Rodriguez/Unsplash How do sugar rushes work? – W.H, age nine, from Canberra What a terrific question W.H! Let’s explore this, starting with some of the basics. What is sugar? ...
Source: The Conversation (Au and NZ) – By Karinna Saxby, Research Fellow, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne MART PRODUCTION/Pexels Increasing income support could help keep women and children safe according to new work demonstrating strong links between financial insecurity and domestic violence. ...
ANALYSIS:By Olli Hellmann, University of Waikato When New Zealanders commemorate Anzac Day today on April 25, it’s not only to honour the soldiers who lost their lives in World War I and subsequent conflicts, but also to mark a defining event for national identity. The battle of Gallipoli against ...
Source: The Conversation (Au and NZ) – By Mark A Gregory, Associate Professor, School of Engineering, RMIT University The telecommunications industry faces a major shakeup following the release of the post-incident report on last November’s 12-hour Optus outage. Telecommunications companies will have to share more information with customers during future ...
Welcome to The Spinoff Bookseller Confessional, in which we get to know Aotearoa’s booksellers. This week: Eden Denyer, bookseller at Unity Books Auckland.Weirdest question/request you’ve had on the shop floorA mother came in looking for anything we might have on Alaskan bison as that was her little boy’s ...
NZCTU Economist Craig Renney said new data released by Statistics New Zealand shows the need for Government to act now, with unemployment rising from 3.4% to 4.3%. ...
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Financial terrorists strike Christchurch, thousands with wrecked dwellings held hostage, Terrorists demand $500 million ransom from the government. As the crisis unfolds the terrorists demands are expected to increase to $1 billion.
No charges to be laid.
‘
John Balmforth AMI head, says they have enough to pay out on all their earthquake damage policy claims – estimated cost, $1 billion.
AMI has $600 million of reinsurance cover and about $500m in cash and investments which would be enough to cover all claims, but would leave the company financially strapped.
AMI chief executive John Balmforth:
“We have not had events of this magnitude before. But we had $600 million reinsurance for the first event and we have another tranche of $600 million we can draw down on and another tranche of $400 millon we can draw down on,” he said.
Bamforth said AMI “had no issues meeting its commitments” “There will be increases in premiums nationally. I think these will be across the board, that’s just going to be a flow-on effect,” Balmforth said AMI was backed by some of the largest international reinsurers based in Bermuda and other parts of the world. Claims would be met. “I’m completely confident we can cover this. I’ve had messages from reinsurers offering support and saying they are ready to assist.”
In my opinion, it is probable that an honest effort by AMI to meet their commitments without government help would seriously effect AMI’s position in the insurance market. By paying their bills like an honest citizen would by necessity entail serious downsizing by AMI, with a resulting loss in market share, even complete collapse.
But so be it. It is not their money, it was deposited with them by their policy holders for just such an event. So rather than pay back their policy holders with ‘their’ money AMI gets to keep it, and we the taxpayer pay out instead?
So, How does this work again?
The Government comes up with eye watering amounts of public money to allow a bankrupt private company to avoid it’s responsibilities and continue to be a major player in the insurance market, ensuring that this corporate will be around to reap the higher premiums that John Balmforth speaks of.
Tax paid Social Welfare to big companies and private investors, comes at the expense of the Social Insurance Policies that this money was supposed to provide for.
So when families are poorly housed and children get sick and their parents can’t afford the medical bills, and they get sicker. They can comfort their children, by relating to them the warm fuzzy fairy tale ending for AMI that Mum and Dad helped pay for.
“So darling the government propped up a bankrupt private insurance company, they did this by bankrupting the state, so despite your Mummy and Daddy and Grandma and Granddad paying taxes all their lives, that is the reason why you can’t get into the public hospital.”
With not even the flimsy excuse that AMI was part of the outrageous Deposit Guarantee scheme… What possible moral justification can the government give for this bailout?
http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10717709
capcha – “damages”
I read 2 stories in Stuff’s Business section this morning on Tax Havens. The stories are not that prominent on the site, but they show a significant process that is part of the way the global financial/money system works to maintain and extend the wealth gap. The articles point to the way Tax Havens are an essential part of this system, Where the Rich… Get Richer:
This and the second article, on the NZ government’s opposition to a UN initiative to tackle tax haven abuse say that NZ is also being used as a tax haven by some of the wealthy in other countries.
press enter at end of the quoted block, back arrow or click to the end of the quoted block and click on the quote button again.
Wikipedia – not necessarily the most reliable of sources – currently categorises NZ as a tax haven because it:
“…does not tax foreign income derived by NZ trusts settled by foreigners of which foreign residents are the beneficiaries. Nor does it tax the foreign income of new residents for four years. No capital gains tax.”
Should the tax reductions have been reversed because of the Christchurch earthquakes? No – it’s absurd to think that immediately an event occurs taxes are tweaked. At the very least it takes time to evaluate and implement significant monetary changes.
Should the tax reductions be reconsidered? Yes, this year’s budget is an appropriate time to announce any changes if they are thought necessary, but they are problematic, it’s unlikely the GST rate will be dropped back down, or taken off selected categories, so increasing taxes risks further stalling a struggling economy.
So you would rather wreck our public and social services then?
Tell me Peter, how many hospitals did National close between 1990-99 and how many did Labour close between 1999 and 2008?
Ill tell you. When labour put taxes up in 1999, the money went into HOSPITALS AND HEALTH CARE SERVICES. No hospital closed after 1999. But you are quite happy to have solo mother live on the street, and have American style health care so the rich can pay a few dollars less in tax.
And given that you have opposed wage increases for workers (I suppose you want wages to go back to 1999 levels like Don Brash does), you see a future of misery for people
Bullshit. I have never suggested anything like that.
* I support a fair welfare state.
* I have never mentioned an American style health system here, and have never supported an American style health system.
Bullshit again. I have never suggested anything like that. I have questioned why the amount of $15 per hour is being claimed to being some magical fix, I have never seen yet anyone justify that over any alternate amount. No data to support it.
Why $15?
Go and do some of your own research like you did the other day. There should be plenty on Union websites (try CTU for a start maybe). From memory the Unions want it pegged around 66% of the median wage which is more than $15.
$15 just happens to be the minimum wage in Oz, must have been suggested to close that gap 😀
Actually Pete you’ve stated several times that you don’t believe in minimum standards of living except as determined by the market.
What usually happens now is you demand that I show evidence, then I post a link to you spewing some awful heartless bile, then you stop replying.
But it’s very boring so I don’t think I’ll bother anymore.
Good on Ya Felix. I also see no point in replying to the repetitive time-wasting and frankly overly distractive slogans that are spewing from the right. Personally I want to concentrate on far more interesting events,
Like sharing the information that is already out there
Like getting every voter i know to not vote for any of the major parties
CERRA has a lot to answer for and I for one do not see the point in voting for people who voted against Democracy
I am beginning to believe NZ must sacrifice this election and send a very clear message to the troughers, shape up or piss off
I am fairly confident that the thousands and thousands of people who actually run the country will welcome the opportunity to do their job without seasoned MP’s constantly twisting the rules, changing the game-plan and generally shitting on NZ again and again and again
You just keep making things up felix. It’s not achieving much, us it.
Pete, either we raise taxes to cover the shortfall in the budget now due to the earthquake, or we borrow the money.
If we borrow the money, we have to pay interest on it. The amount borrowed + the interest must be paid back at a future date, from taxes. So we either pay taxes on the principal now, or we pay taxes on the principal and interest over time.
Therefore refusing to raise taxes now, for this one-off event, will cost us more over time.
Or we take back our right to print our own money and tell the money masters f*&k off and say no to the sin of usury. Our work our wealth.
It would still require an increase in taxes so that the government can redirect our resources into fixing up that damaged by the disaster. As I’ve said, money is not a resource.
DTB,
I agree with you but to be honest I’d rather pay taxes towards helping the people in Christchurch and things Kiwi’s need than taxes to pay the banksters interest on money they created out of thin air.
So would I.
Me too.
It’s a tricky balancing act Lanthanide, with no guarantee that whatever is chose is the right mix. Taxing more runs the risk of stifling a recovery which runs the risk of lowering the tax take or keeping it low for longer.
It’s easy to say “we should raise taxes”, or “we should borrow more” (as Helen Kelly suggested on Q+A this morning), but those who make the decisions have a lot more complexities to consider.
And as Jon Johansson said on Q+A this morning this government is only pragmatic within its ideological straight jacket. The point being made that this government has ignored the complexities and is ruling out even temporary tax increases in favour of its ideologically based solutions.
There is very little evidence for the supply side nonsense you are peddling. Cuts run exactly the same risk you are talking about, so it’s a wash in that respect.
That point was reinforced in the discussion with English when he was talking about Treasury advice around the benefits of privatisation. Treas was saying that there is very little evidence that the private sector would run the companies any better, and Old Bill could only fall back on dogma.
It would be nice to think that this government was ‘considering the complexities’, but as the panel agreed on Q+A there are concerns that they are not, and little evidence that they are.
All the evidence over the last 50 years shows that too low taxes stifle the economy more than too high taxes do.
That is clearly put Lanthanide. I can’t see how the wishful thinkers about reduced taxes regularly here can pop up like corks again with their tripe.
Actually, it’s absurd not to. How else is the country going to pay to fix things up?
My friend tells me Double Dipstick has been mouthing more billshit bullshit claptrap craptrap on Q&A.
Don’t worry Jim Nald: The panel dealt to him afterwards. Good to see Helen Kelly on the panel and a ‘respectful’ Paul Holmes who didn’t interrupt her once.
Job well done. 🙂
I agree Anne. I nearly didn’t turn on the programme but figured there was not much else on for my morning cuppa! Holmes was much better by staying more in the background: I normally can’t stand his opinionated nonsense. Espiner asked harder questions than the usual patsy, but what was most interesting for me was English trotted out his usual ideological nonsense, but his eyes and general lack of enthusiasm suggested he no longer believed it.
Now that is interesting. Maybe he’s waking up to the fact that ideology doesn’t trump reality – it was his ideological plan that prevented NZ coming out of recession after all. Not that I’m holding my breath about it.
I dreaded checking out Q&A online and thought I might have needed to take some sedatives first (perhaps, like Holmes, who was administered some today before the cameras started rolling?) before viewing the Guyon-English interview:
http://tvnz.co.nz/q-and-a-news/sunday-april-10-4108966/video
And Holmes’ discussion with the panel:
http://tvnz.co.nz/q-and-a-news/sunday-april-10-4108966/video?vid=4109852
Helen Kelly is exceptionally outstanding.
The future of housing in Auckland
This lodge was in the news 3 years ago, there was a huge fuss over it Labour promised to do something about it, but then everything died down, and National got in, and people there still live in misery. And as rents skyrocket, and landlords get more choosy about what tenants they choose to house, and as Housing NZ wash there hands of more and more people, and start kicking more and more tenants out, squalid boarding houses, are going to grow and grow.
This will be the price of National’s prosperity.
Why is that lodge still standing? It should have been knocked down and the owners fined years ago.
From the Herald article.
I am in a 2 bedroom State House, and I want a transfer, because although I need subsidised housing (on UB), I don’t need two bedrooms. But I am currently having a huge battle with HNZ over other issues, so a transfer is way down the list for me. Survival mode. Honestly any of the families in that article could have this place, if I had my way. But I am just managing to survive myself! I wish I could help one of those families. I wish even more, that the NACT government would do what it’s supposed and help all of them!
RIP Sidney Lumet
Here is the unforgettable “we’re mad as hell and we’re not gonna take it anymore.”
I hope you’re with me on that.
The week that was
http://thejackalman.blogspot.com/2011/04/week-that-was.html
The National Government offer to bailout AMI to the tune of more than a Billion dollars. The privately owned company has had financial difficulty since the Christchurch Earthquake and improper re-insurance. In light of the South Canterbury Finance hash and despite the Treasury advising John Key that South Canterbury Finance was never compliant with the scheme…
Wendy Pye, NZ literacy entrepreneur, was on Chris Laidlaw on Radionz this morning. People like her should get listened to, she has been a business and educational plan success, has a good product doing good things around the world. that magic word ‘exporter’. Not ‘dairy producer’, but ‘advanced high-end products producer’.
She has an excellent take on NZ, business and the export market as she has been round long enough to have wide experience with successes and failures, and how to survive both. She is held at arms length by Min of Education though embraced by other achievement focussed governments. This seems to follow from what I see is a negative attitude amongst NZs to trying anything new, stepping out from the known. And one of the problems is that the bureaucrats and academics are concerned about dealing with private enterprise. I think they can’t differentiate between having Macdonalds sponsoring schools and successful, experienced non-religious or narrowly ideological companies focussed solely on educational tools.
I referred to NZ negativity in the waka controversy which idea suffered death from a thousand whiny criticisms from contributors here, ie I don’t like plastic, Maori can’t make good decisions about showing their culture. Wendy’s products appear to have received less than positive treatment probably with the same mindset. I thought also of Peter Snell, such a success but not embraced and drawn back to this country – he has been in Texas for years.
BTW Texas is planning a new wide-ranging project for literacy. Here at the bottom of the world we have tight-minded smug middle-class Ann Tolley whose low horizon is viewed from a entrenched trench, choosing National Standards as her lead initiative in schools. Yet Wendy Pye points out our good record in literacy, the problem being the large ‘tail’ of non-readers, prevented from obtaining worthwhile work and achieving prosperity by their lack of literacy, and that most of our jail inmates bear this disadvantage.
Yeah, but I found myself getting increasingly bored as Laidlaw and Pye started going on endlessly about the alleged ‘tall-poppy syndrome’ in this Country. The same old scolding of the New Zealand public for not treating entrepreneurs as some sort of Super-Heroes. Yawwwwnnnnn.
Danyl @ The dim post wonders if the reason our business leaders have difficulty with the “red tape” is because they’re stupid.
The Mainfreight genius talking on the Dimpost wants less bureaucracy and regulation. Isn’t that firm where sweet Jenny Shipley presides? Pollies from NACT get consolation so often with the old saying ‘When one door closes, another opens’ don’t they?
Yup, call it the “revolving door” of jobs or sinecure between NACTs, rich elites and big business.
D..Damn
You may be tired of the tall poppy syndrome being mentioned but facing it becomes more relevant as we move through the decade and I think it is time for a change.
We need to be as supportive of our entrepreneurs and successful projects of all types that are beneficial to the country, as we are of sports people. They work hard to help themselves trying for personal success; sound, innovative businesses that achieve success help the country.
But nor should we forget the people who enable them to achieve that success. We shouldn’t enable entrepreneurs to succeed at the expense of their employees’ rights to fair pay and fair treatment for fair work.
Anyone needing a laugh should look at Kiwiblog, if you can stand the stench.
There’s some cove keeps impersonating me and taking DPF to task. What a bloody cheek!
A new dawn in Egypt……..
http://www.reuters.com/article/2011/04/10/us-egypt-protest-idUSTRE73754M20110410
I have always approved Mat McCartens opinions and I admire the way he overcame a bad speech impediment .However these days he seems to spend more time attacking the Labour Party and in particular Phil Goff. What the hell is he playing at? The enemy is the Tory Party.,The only conclusion I can come up with is that there is a personal vendeta going on with Phil,Goff.Get back on Board Matt its going to be hard enough to win the next election with out you attacking Labour at every opportunity .
Hes attacking Labour because he sees whats wrong and how to fix it, maybe Labour need to start listening
Labour’s list has been announced:
http://www.stuff.co.nz/national/politics/4869855/Labours-party-list-for-November-election
So, if Labour get roughly their current level of support (low 30’s) could there be only one or two new list MPs? (plus several from “safe” electorate seats?)
It doesn’t look very inspiring – no noticeable new names apart from Andrew Little. If Labour lose, there’s going to be a big clear out for 2014 (Barker, Horomia, King, Mallard, Goff etc).
Oh well.
At the time of writing, The Poll on that page puts Lab/G/NZ1 combined vote of 387 higher than M/UF/ACT/Nat 316.
Ideally that would be indicative of the long term trend. Lets see what One News has to say tonight on their poll.
Actually, the Labour list looks to me like a reasonable mix of relative newbies (class of 2008) and experienced MPs. It looks like there is a gradual turn-over of new MPs, which is for the best, rather than a radical clean-out of ALL the old hands.
Cat and Dolphins playing together
When are people going to start complaining about foreign banks deciding our economic future for us?
Saturday, 9 April 2011, 2:26 pm
Press Release: The Nation ‘THE NATION’
GEORGE FRAZIS – Westpac New Zealand CEO
Interviewed by DUNCAN GARNER
Duncan Let’s talk about the state of the economy in the wake of the AMI decision and how does the country afford this rescue package and the bail out of South Canterbury Finance for that matter? Well some say we can’t afford it and we can’t afford to keep bailing out bad business decisions, they say if we do we’ll go broke. So how close are we to going broke? The Chief Executive of Westpac New Zealand George Frazis is with me now.
Hey Jum from Jim
There’s a small baby step each Kiwi can make for a real difference –
Walk away from foreign banks
And put money into locally owned banks like TSB Bank and Kiwibank
Go on. Do it now.
Open an account with http://www.tsbbank.co.nz or http://www.kiwibank.co.nz,
then move funds and mortgage into either.
Jim, if NACT is returned then I don’t think we’ll have Kiwibank.
Bugger. You’re right.
But we should move our money into locally owned banks while they are around anyway. If not now, when?
I don’t think National have done anything to suggest they would try and privatise Kiwibank. Remember, this is a voter cautious, slow action or no action government. Any proposed asset sales are likely to clearly signposted pre election. If Labour have a strategy of vehemently opposing a modest number of partial asset sales it may reinforce the perception they are just exaggeration junkies.
Actually, vehement is not the best description, passion and enthusiasm may be wrongly inferred – going through the motions of loudly protesting for the sake of it may be more appropriate.
http://www.stuff.co.nz/national/politics/562746
2008 – and since then Key has had to categorically deny they’d sell while he is PM
“Mr English refers to the voters’ view of “that nice man John Key” and his appeal to “Labour-plus” voters – people who believed National would let them keep all Labour’s money, with more on top.
He also refers to needing to “sort out” Working for Families and suggests National will sell Kiwibank “eventually, but not now”.”
Brian Goulds latest post on how we revere business leaders:
http://www.bryangould.net/id149.html
That is well worth the read and so very close to the truth. We’re expected to worship the businessmen whether they’re capable of what’s expected of them or not.
Paula Bennett on people having to go through a budgeting exercise before applying for a hardship grant:
“They could go online and fill out a budgeting form”
Right, like all Decile 1 households have a computer. What fucking planet is she on?
Salon: Right winger + hard time = compassion.
Some of the most eloquent advocates for prison reform are conservatives who find themselves behind bars
http://www.youtube.com/watch?v=mHWvbisFg0I&feature=player_embedded
Two intrepid dudes encounter stray animals, torn apart roads and deserted settlements as they film their trip to measure the radiation from 30 km out to 1.5 km away from Fukushima.
Bill Maher – Shine My Shoes Fuckface II
“They’re banging porn stars and you’re getting the crabs”
“While the Republicans, the party of millionaires, is shutting the government down because they can’t have a tax-free world. As Paul Ryan says, ‘It’s not a budget it’s a cause’, like slavery…”
Luvvit.
Hey Lynn
When will The Standard email me the bank account number so that I can make monthly cash donations?
Will be good to be provided with a pdf version of “best of the week’s” posts (maybe including comments from others) so that they can be printed on A3 or A4.
I would be willing to stand at street corners or outside supermarkets for a few hours on Fri-Sun and sell them (with money being deposited back into The Standard’s bank account) or to give away. The point is to encourage the wider dissemination of the issues raised by TS.
Whadyareckon?
This has been commented on before – you’re quite welcome to put one together. I believe others already do pass out copies.
Guess I can just copy and paste or print out separate, selected pieces but
I’d prefer to have an official or endorsed pdf version for hard copies to be printed …
Want to see pole-axed Rethuglican?
This guy could not find one good point to refute universal healthcare in the US:
Comment by dch3348
Says it all really.
Yes Draco, scrolled down and read that particular comment and it wondered how many more peiople were coming to the same realisation in America.
Still, I think it’s going to take maybe 50% of Ameicans on food stamps before they’re angry enough to do something about it and figuratively eviserate the GOPlets.
You know M, it is amazing that in the wealthiest country in the world they appear to not understand the disaster of their own Health system. The strange story from the “pole-axed Rethuglican” that the British Health System was and example of failure because “his sister couldn’t get an epidural because they thought she was too fit.” Aha. There you have it if the Brit Health system don’t want to give you an epidural so the System is a complete failure. Huh?
I think NZ has one of the least expensive with the finest effectiveness in the World. (Unless you believe it when Tony Ryall that it is a disaster.)
Yes ianmac, NZ’s system isn’t perfect and there are medical disasters that make my blood boil but I’d rather have “socialist” health care than the bloated, corrupt and “loaded dice” system where every possible avenue is explored to turn down a legitimate insurance claim.
I also believe the epidural refusal was if not a complete fabrication then a definite stretching of the truth. Having had epidurals for both my kids as I had a 20-hour and a 12-hour labour there are few situations where a woman cannot have one provided there is time and I would hope that most obstetricians would not be so sadistic as to refuse one. Even if a woman is chided about having one she should go all out to have one if she wants it – screaming down the birthing ward would probably be enough to convince a reluctant doctor.
When my youngest was born she had a ABO incompatibilty problem and the treatment she received in neonatal was first class. I hate to imagine what parents in the US would pay for such treatment although I’m sure Tony and his mob are working overtime to bring about such a situation.