web analytics

Our $20 million bill for Nats’ expediency

Written By: - Date published: 8:48 pm, September 1st, 2010 - 28 comments
Categories: business, capitalism, class war, labour, national - Tags: , ,

One of the frequent criticisms of political journalism is that it is more concerned with the art or sport of politics – awarding politicians points for doing things that they judge to be good politics – than with the substance of their policies and how they handle issues. Case in point was John Armstrong’s piece:

“National’s strategy was simple. Act decisively. Deal with the problem in total in a day. Get it off the political agenda. Bury it, don’t just sweep it under the carpet. This meant making some decisions to simplify and thus expedite the payout by, for example, not worrying about such criteria as a depositor’s citizenship and tax residency. This will cost an extra $20 million.”

Armstrong frames that like it’s a good thing. But let’s put the same facts another way:

‘Questions over why every taxpayer is bailing out a small number of mostly rich investors (the average deposit in SCF was $45,000) out after they investing in a company that should never have received the government guarantee in the first place, have the potential to be politically damaging for National if the issue drags out. So, the Government ignored the rules of that guarantee and paid out all the depositors, including ineligible ones, at an additional the cost of $20 million’

That is an absolute scandal, an utter disregard for taxpayer. For purely political reasons, National just spent $20 million of our money.

It’s not the only fishy thing around SCF. We can argue till the cows come home over whether the whole bail-out was even legally required (Cactus Kate and others think not). We can argue about the giant rort that seems to have occurred with SCF bond buyers making more than a 40% return in as little as a day due to the Government’s decision to pay back SCF’s debt as well as its depositors. But, one thing is absolutely clear: this $20 million did not have to be spent.

National’s priority was to pay out its South Island supporters ( I read somewhere they’re worried they could lose Rangitata) and kill the issue. We’re being footed with the bill for National’s political expediency.

So, forgive me if I don’t congratulate Key and co for their crisis management skills.

Now, I’m no 3rd floor political strategist but if Labour ever gets their act together on this issue they might like stop with facetious claims that had National grown the economy faster SCF could have been saved and, instead, to ask why the guarantee was extended to SCF in April this year and why the Government went beyond the terms of the guarantee to the cost of $20 million.

In particular, they might like to look at section 6 of the Crown Retail Deposit Guarantee Scheme Act, bearing in mind that Bill English extended SCF’s guarantee on April 1:

Minister may give guarantee (1) The Minister may, on behalf of the Crown, give a guarantee in writing for a period that ends on or before 31 December 2011 in respect of any or all debt securities issued by an eligible entity if it appears to the Minister to be necessary or expedient in the public interest to do so.(2) The Minister may give the guarantee on any terms and conditions that the Minister thinks fit.

But then, I’m no 3rd floor strategist.

28 comments on “Our $20 million bill for Nats’ expediency ”

  1. Scott 1

    Getting the overseas investors out of the picture will probably save the taxpayer more money in the long run. It was done to ensure that the Government will be the sole creditor in the receivership and can call the shots when it comes to selling the assets of SCF. That way it will probably be able to achieve a better price.

    Armstrong is right that it was a smart move, even if (as always) he seems more interested in the politics of the Government’s action than whether it was the right thing to do.

    • BLiP 1.1

      In first with the Blinglish National Ltd™ “official version”, eh Scott? Perhaps you can be a little more specific than “probably” – the names of the foreign investors for whom the government broke the rules to spent my money would be interesting. How long before we get that information?

      The only thing smart about this issue is the fact that National Ltd™ have pulled of a billion dollar shell game sleight of hand move right in front of the public eye. But, never mind, Clueless is off to see the Queen – did you know? – just like Dick Whittington – perhaps she’ll make Lord Mayor of London when he scarpers with his suitcase full of money.

      • Scott 1.1.1

        “In first with the Blinglish National Ltd™ “official version”, eh Scott?”

        You’re accusing me of being a Bill English supporter? I can’t stand the man. It is possible to dislike a government without disliking every single thing it does. They’re bound to get it right occasionally. In this case they did.

        “Perhaps you can be a little more specific than “probably””

        It’s not that complicated. When a company is in trouble and multiple creditors are scrambling around to get paid and assert rights, things can get messy and potential buyers can be deterred. I don’t see it matters who the overseas investors were.

        If the govt hadn’t done this people would be attacking them in six months time for failing to spend a bit more to secure a better sale price.

    • Loota 1.2

      Yeah, we’re going to crucify National over this, over the next 12 months. Over and over again.

      About 1.77 billion times.

  2. TightyRighty 2

    45k? way to lower the bar on being rich. all issues aside, terming someone with 45k rich is a bit low brow wouldn’t you agree eddie? a useful bit of information might be the average age of the depositors. but that would diminish your spin wouldn’t it?

    • Ari 2.1

      $45,000 was not the income of those investors, it was the amount invested. As in “oh, look what I had left between the couch, $10,000! Let me find a few more of those and put them together in a fund.”

      Anyone who’s investing that kind of money is taking a big risk and ought to know it.

      • TightyRighty 2.1.1

        not really taking a risk, see the last labour moved to shore up confidence in the finance industry by guaranteeing the deposits of all people in selection of finance houses. government backed security for your deposit? bring it on.

        • Marty G

          it was national’s decision to extend scf’s guarantee in april of this year.

          and it was treasury that failed to carry out proper oversight.

          you may recall that cullen never wanted to put in the guarantee but at the height of the financial crisis he was advised that everyone else had done it and there would be capital flight if nz didn’t.

          • TightyRighty

            but you guys always say capital flight won’t happen when taxes are raised etc, so it’s only when treasury advises to do something because of the risk of capital flight that it actually occurs? get your myths straight boyo.

            the capital flight would have been to safe deposit options, like the big 4, kiwibank, psis and tsb and all the other stable institutions. the ones who paid the fees to fund the deposit guarantee scheme i might add, $600m dollars worth i believe.

            it’s not like cullen ever really cared about treasury advice and it’s also not good listening if you come up with shoddy policy withing 48 hours of said advice.

    • Marty G 2.2

      how many kiwis,even retirees, have $45k to put in a finance company? and that’s just the average – as always, it’ll be a smaller subsection with the lion’s share

    • Draco T Bastard 2.3

      45k that they can lose without worrying about it – yeah, I’d call them rich. Unless they were stupid, which is possible – they do vote NACT after all, and didn’t have that money to begin with in which case they should lose everything.

      • TightyRighty 2.3.1

        no shit they should lose everything. but 45k is not masses of money if you have been saving all your life. so i want to know, before anybody with 45k in the bank starts feeling persecuted for being dilligent and hard working, what the average age of investors was? if it’s 22 then yes they are probably quite wealthy. If, as i suspect it’s closer to 60 then the vast majority will have worked hard and saved to achieve that.

      • Lanthanide 2.3.2

        “which is possible – they do vote NACT after all”
        Citation needed that all investors in SCF vote National, please.

        You’re no worse than Fisiani making hyperbolic crap up.

  3. Cactus Kate 3

    I would have to agree that compared to other New Zealanders, having $45,000 in a deposit does sadly put you in a wealthier category than many others. Today those people have every right to ask the questions they are asking. Why bailout people (and paying out on the DoG’s is a bailout) with more money than I’ve got?

    If you argue against welfare (as I do) for the poor then you have to be consistent and argue against it for the not-so-poor.

    Given Treasury’s steadfast announcement today in response to my post that SCF did not breach the guarantee, I am more interested now to know for how long officials have known the precise potential exposure and that risky lending that was still being written during the guarantee period. If SCF disclosed what they were doing then that is about the only conclusion I can draw to Treasury’s claim that SCF did not breach the DoG.

    Labour started the nonsense however the original DoG with SCF was signed in the first two weeks of the National government in 2008.

    Labour should be asking how long this was going on.

    • Lazy Susan 3.2

      Appreciate your great analysis of this Cactus but take issue with

      Labour started the nonsense

      This was not nonsense – Labour implemented the scheme at the time of the global credit crunch. Most developed countries had put in place similar schemes and without it there would have been a flight of capital from NZ to safer havens.

      The “nonsense” is that SCF was allowed to write up millions of dollars of dodgy loans and get themselves so far underwater before anything was done about it.

      The “nonsense” is that this government has coughed up $1.7 billion of taxpayers money so readily without any analysis of what their true obligations are and how best to meet them. They’ve already admitted $20 million they were not even obliged to pay. Compare this to the penny pinching that is going on in such areas as early childhood education.

      This is a gift for Labour – a fairly easy to understand mighty f*** up by National. A simple “privatise the profits socialise the losses” story but on a gigantic scale. If Labour don’t run with this one I really will despair.

      • outofbed 3.2.1

        If Labour don’t run with this one I really will despair.

        gee you have lasted this long ?

    • pollywog 3.3

      Why bailout people (and paying out on the DoG’s is a bailout) with more money than I’ve got?

      …cos Rich Whitey will always look after their own first.

  4. Draco T Bastard 4

    We can argue till the cows come home over whether the whole bail-out was even legally required (Cactus Kate and others think not).

    I’m wondering if it’d be possible to make a police complaint about it actually.

    In particular, they might like to look at section 6 of the Crown Retail Deposit Guarantee Scheme Act, bearing in mind that Bill English extended SCF’s guarantee on April 1:

    What are you getting at with that because I can’t see anything.

    The RWNJs complained about the $800k used for the election card that Labour used and now their in there giving away 25 times that amount and nary a whisper can be heard.

  5. Carol 5

    And some of the investors have A LOT of money spare for investing, and sped the decline of SFC:

    South Canterbury Finance’s collapse appears to have been caused in part by rich investors pulling out cash to get below new limits for the government’s deposit guarantee scheme.

    Trustee Executors regional manager Yogesh Mody said “many investors” with deposits above the $250,000 limit that will apply to the revised scheme from October 12 had been “rearranging” their investments to get below that figure ahead of the deadline.

    • Loota 5.1

      Yeah like instead of having one of their family trusts having $500K in SFC, have $250K in each of two family trusts and hold it in SFC.

  6. just saying 6

    Did Key chuck in the interest for them too?

  7. quasimodo 7

    Forgive me for sounding cynical, but it looks as though Key’s minders have removed him as far as possible from the blowback of the SCF collapse. They don’t wish to tarnish their prized electoral asset, and he gets to resurface after a discreet interval with a bit of the reflected glory of President Sarkozy and PM Cameron.

Links to post

Recent Comments

Recent Posts

  • Quarantine-free travel with Australia to remain suspended for a further 8 weeks
    Suspension to be reviewed again mid to late November Decision brought forward to enable access from Australia to first tranche of around 3000 rooms in MIQ Air New Zealand working at pace to put on more flights from Australia from October    The suspension of quarantine-free travel (QFT) with Australia has ...
    BeehiveBy beehive.govt.nz
    26 mins ago
  • Extra support for Ethnic Communities to share vaccination information
    Extra support is being made available to Ethnic Communities to help them share COVID-19 vaccination information within their communities, Minister for Diversity, Inclusion and Ethnic Communities Priyanca Radhakrishnan said. “We know we need to get every eligible person in New Zealand vaccinated. A fund being launched today will allow for ...
    BeehiveBy beehive.govt.nz
    1 hour ago
  • School holidays remain unchanged for Auckland region
    School holidays in Auckland will continue to be held at the same time as the rest of the country, starting from Saturday, 2 October, Education Minister Chris Hipkins said today. “I’ve carefully considered advice on the implications of shifting the dates and concluded that on balance, maintaining the status quo ...
    BeehiveBy beehive.govt.nz
    2 hours ago
  • Government continues crackdown on gangs and organised crime
    Operation Tauwhiro extended until March 2022 Since it was launched in February, Operation Tauwhiro has resulted in:   987 firearms seized $4.99 million in cash seized 865 people charged with a firearms-related offence Gangs and organised crime groups will continue to be relentlessly targeted with the extension of Police’s successful ...
    BeehiveBy beehive.govt.nz
    4 hours ago
  • Speech to Body Positive 'HIV Treatments Update Seminar 2021'
    E ngā mana E ngā reo E ngā iwi Tēnā koutou katoa Ka huri ki ngā mana whenua o te rohe nei. Tēnā koutou. He mihi hoki ki a tatou kua tau mai nei I raro I te kaupapa o te rā. Nō reira tēnā koutou katoa Acknowledgements It’s a ...
    BeehiveBy beehive.govt.nz
    4 hours ago
  • NZ economy’s strong momentum will support rebound from Delta outbreak; COVID fund replenished
    The economy showed strong momentum in the period leading up to the recent Delta COVID-19 outbreak, which bodes well for a solid economic rebound, Grant Robertson said. GDP rose 2.8 percent in the June quarter, following on from a 1.4 percent increase in the previous March quarter. This was a ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Projects create benefits into the future
    Making a well-known lake swimmable and helping to halt the decline of the endangered hoiho/yellow-eyed penguins are among a suite of new projects being supported by the Government’s Jobs for Nature programme across the southern South Island, Conservation Minister Kiri Allan says. “It’s no secret that many of our most ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • New members appointed to Kāpuia
    The Government is adding four additional members to Kāpuia, the Ministerial Advisory Group on the Government’s Response to the Royal Commission of Inquiry into the terrorist attack on Christchurch mosques. “I’m looking forward to having Pamela MacNeill, Huia Bramley, Melani Anae and Katherine Dedo  join Kāpuia and contribute to this group’s ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Timeline confirmed for Emissions Reductions Plan
    Cabinet has agreed to begin consulting on the Emissions Reduction Plan in early October and require that the final plan be released by the end of May next year in line with the 2022 Budget, the Minister of Climate Change, James Shaw confirmed today. “Cabinet’s decision allows organisations and communities ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Pay parity pathway for early learning teachers confirmed
    Pay parity conditions and higher funding rates for education and care services will come into force on 1 January, 2022, Minister of Education Chris Hipkins confirmed today. The Government signalled this work in Budget 2021. “From 1 January, 2022, centres opting into the scheme will receive government funding and be ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Speech to the New Zealand Nurses Organisation Conference 2021
    Kia Ora tatau katoa.   Ka tuku mihi ki nga nēhi, He pou Hauora o Aotearoa, E ora ai tatou.   Whakatau mai  I runga i te kaupapa o te ra Te NZNO conference.   Tena koutou tena koutou Tena tatou katoa   Good morning, and thank you inviting me ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Government investment in farmer-led catchment groups sweeps past 150 mark
    171 catchment groups have now been invested in by the Government 31 catchment groups in the Lower North Island are receiving new support More than 5,000 farmers are focussed on restoring freshwater within a generation through involvement in catchment groups  Government investment in on-the-ground efforts by farmers to improve land ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Fight to protect kauri on track
    The Government is pitching in to help vital work to protect nationally significant kauri forests in Auckland, Minister of Conservation Kiri Allan says. “Ensuring the survival of these iconic trees for future generations means doing everything we can to prevent the potential spread of kauri dieback disease,” Kiri Allan said. ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Joint statement of Mr Bernard Monk; Hon Andrew Little, Minister Responsible for Pike River Re-entry,...
    [Note: The Parties have agreed on terms to fully and finally settle the proceeding and will jointly issue the below statement.] At the heart of this litigation are the lives of the 29 men tragically lost at the Pike River mine on 19 November 2010 and to whom we pay ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • More financial support for businesses
    Today’s decision to keep Auckland in a higher COVID Alert Level triggers a third round of the Wage Subsidy Scheme which will open for applications at 9am this Friday. “The revenue test period for this payment will be the 14th to the 27th of September. A reminder that this is ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Aotearoa New Zealand provides further humanitarian support for Afghanistan
    Aotearoa New Zealand is providing a further $3 million in humanitarian assistance in Afghanistan, Foreign Minister Nanaia Mahuta announced today.  “There is significant humanitarian need in Afghanistan, with the crisis disproportionately affecting women and girls,” said Nanaia Mahuta. The UN has estimated that 80% of the quarter of a million ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Innovative te reo prediction tool announced in Te Wiki o Te Reo Māori
    A new Māori language prediction tool will play a key role in tracking our te reo Māori revitalisation efforts, Minister for Māori Development Willie Jackson announced today. He Ara Poutama mō te reo Māori (He Ara Poutama) can forecast the number of conversational and fluent speakers of te reo Māori ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Further Government support for people to access food and essential items
    The Government is responding to need for support in Auckland and has committed a further $10 million to help people access ongoing food and other essential items, Minister for Social Development Carmel Sepuloni announced today. This latest tranche is targeted at the Auckland region, helping providers and organisations to distribute ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Half a million Pfizer vaccines from Denmark
    The Government has secured an extra half a million doses of Pfizer COVID-19 vaccines from Denmark that will start arriving in New Zealand within days, Prime Minister Jacinda Ardern announced today. “This is the second and larger agreement the Government has entered into to purchase additional vaccines to meet the ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Inland Revenue providing essential COVID support for businesses
    Inland Revenue is seeing increased demand for Resurgence Support Payments and other assistance schemes that it administers, but is processing applications quickly, Revenue Minister David Parker said today. David Parker said the Resurgence Support Payment, the Small Business Cashflow (loan) Scheme and the Wage Subsidy are available at the same ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • New Zealand marks 20th anniversary of 9/11 attacks
    New Zealand is expressing unity with all victims, families and loved ones affected by the September 11 2001 terrorist attacks, and all terrorist attacks around the world since, including in New Zealand. “Saturday marks twenty years since the 9/11 terrorist attacks in the United States, which killed nearly 3,000 people ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Speech to SPREP Environment Ministers
    Talofa Honourable Ulu of Tokelau Faipule Kelihiano Kalolo Tēnā koutou katoa and warm Pacific greetings from Aotearoa to your excellencies, ladies and gentlemen. The new science released by the Intergovernmental Panel on Climate Change on 8 August paints an alarming picture of the projected impacts of climate change on the ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Additional Resurgence Support Payments to support business
    Businesses affected by higher Alert Levels will be able to apply for further Resurgence Support Payments (RSP). “The Government’s RSP was initially intended as a one-off payment to help businesses with their fixed costs, such as rent. Ministers have agreed to provide additional payments to recognise the effects of an ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • More Dawn Raids scholarships announced
    Details of the ‘Manaaki New Zealand Short Term Training Scholarships’, a goodwill gesture that follows the Government’s apology for the Dawn Raids of the 1970s, were released today by Pacific Peoples Minister Aupito William Sio. “These scholarships that are targeted to the Pacific will support the kaupapa of the Dawn Raids’ ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • One-way quarantine-free travel for RSE workers starting in October
      One-way quarantine-free travel for Recognised Seasonal Employer (RSE) workers from Samoa, Tonga and Vanuatu starts in October New requirement for RSE workers to have received their first vaccination pre-departure, undertake Day 0 and Day 5 tests, and complete a self-isolation period of seven days, pending a negative Day 5 ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Govt boosts Pacific suicide prevention support
    Applications have opened for the Pacific Suicide Prevention Community Fund as the Government acts to boost support amid the COVID delta outbreak. “We know strong and connected families and communities are the most important protective factor against suicide and this $900,000 fund will help to support this work,” Health Minister ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Govt parks the expiry of licenses, WoFs and regos
    As a result of the Delta outbreak, driver licences, Warrants of Fitness (WoFs), Certificates of Fitness (CoFs), vehicle licences (‘regos’) and licence endorsements that expired on or after 21 July 2021 will be valid until 30 November 2021, Transport Minister Michael Wood has announced today. “While this extension won’t officially ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • COVID-19 community fund to provide support for vulnerable women and girls
    Minister for Women Jan Tinetti today announced a $2 million community fund that will provide support for women and girls adversely affected by COVID-19. “We know that women, particularly those who are already vulnerable, are disproportionally affected by the kind of economic disruption caused by COVID-19,” Jan Tinetti said. ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Next phase of support for Fiji’s COVID-19 response announced
    A further NZ$12 million of support for Fiji’s COVID-19 response has been announced by Foreign Minister Hon Nanaia Mahuta today. The package builds on previous tranches of assistance Aotearoa New Zealand has provided to Fiji, totalling over NZ$50 million. “Fiji remains in a very challenging position in their response to ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Robotic asparagus harvester aimed at addressing industry challenges
    The Government is backing a $5 million project to develop a commercial-scale autonomous robotic asparagus harvester, Agriculture Minister Damien O’Connor announced today. The Sustainable Food and Fibre Futures fund (SFF Futures) is contributing $2.6 million to the project. Project partner Robotics Plus Limited (RPL) will build on a prototype asparagus ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Additional Pfizer vaccines to arrive tomorrow
    More than a quarter of a million additional doses of the Pfizer vaccine are on their way from Spain to New Zealand, Prime Minister Jacinda Ardern announced today. The additional doses will arrive in Auckland on Friday morning to help meet the current surge in demand for vaccination. “It’s been ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Young people to have their voices heard in Youth Parliament 2022
    The dates and details for Youth Parliament 2022 have been announced today by Minister for Youth Priyanca Radhakrishnan, and the Speaker of the House of Representatives. Youth Parliament is an opportunity for 141 young people from across Aotearoa New Zealand to experience the political process and learn how government works. ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Boosting support for tertiary students affected by COVID-19
    Students facing a hard time as a result of COVID-19 restrictions will continue to be supported,” Education Minister Chris Hipkins confirmed today. The Government is putting a further $20 million into the Hardship Fund for Learners, which will help around 15,000 students to stay connected to their studies and learning. ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • COVID-19: Immediate relief available for Māori and iwi organisations
    The Government has reprioritised up to $5 million to provide immediate relief to vulnerable whānau Māori and communities during the current COVID-19 outbreak Minister for Māori Development Willie Jackson announced today. The COVID-19 2021 Whānau Recovery Fund will support community-driven, local responses to gaps in access and provision of critical ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • New beef genetics programme to deliver cows with smaller environmental hoof-print
    The Government is backing a genetics programme to lower the beef sector’s greenhouse gas emissions by delivering cows with a smaller environmental hoof-print, Agriculture Minister Damien O’Connor announced today. Informing New Zealand Beef is a seven-year partnership with Beef + Lamb New Zealand that is expected to result in more ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Appointments to the New Zealand Qualifications Authority
    Education Minister Chris Hipkins today announced new appointments to the board of the New Zealand Qualifications Authority (NZQA). Former Associate Minister of Education, Hon Tracey Martin, has been appointed as the new Chair for NZQA, replacing the outgoing Acting and Deputy Chair Professor Neil Quigley after an 11-year tenure on ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Govt supports residential house building by allowing manufacture of building supplies
    The Government has agreed to allow some building product manufacturing to take place in Auckland during Covid lockdown to support continued residential construction activity across New Zealand. “There are supply chain issues that arise from Alert Level 4 as building products that are manufactured domestically are mostly manufactured in Auckland. ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Government invests in scientific research to boost economy, address climate change and enhance wellb...
    Research, Science and Innovation Minister Hon Dr Megan Woods has today announced the recipients of this year’s Endeavour Fund to help tackle the big issues that New Zealanders care about, like boosting economic performance, climate change, transport infrastructure and wellbeing. In total, 69 new scientific research projects were awarded over ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Transport to drive economic recovery
    The Government is investing a record amount in transport services and infrastructure to get New Zealand moving, reduce emissions and support the economic recovery, Transport Minister Michael Wood announced today. The 2021-24 National Land Transport Programme (NLTP) was released today which outlines the planned investments Waka Kotahi NZ Transport Agency ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Government congratulates NZ Paralympic team
    The Government has congratulated New Zealand’s Paralympic Team following an outstanding showing at the Tokyo Paralympic Games. “Our New Zealand Paralympian athletes have once again shown incredible talent, tenacity and determination at the Tokyo Paralympic Games winning 12 medals, with every athlete who represented New Zealand making us so proud,” ...
    BeehiveBy beehive.govt.nz
    2 weeks ago