web analytics

Polity: House of Cards

Written By: - Date published: 11:20 am, May 16th, 2014 - 20 comments
Categories: housing - Tags: ,

polity_square_for_lynnRob Salmond at Polity on the housing crisis:

Budget 2014 figures show that the housing crisis will get much, much worse under National’s do-nothing approach.

For every dollar someone uses to pay a mortgage on an average house in 2014, in 2018 a person will need $1.44 to do exactly the same thing. Pay rises will not come close to covering this.

By 2018/19, it will cost 63% of the average gross full time wage to service a standard1 mortgage on an average2 home. Right now, the figure is 49%. That cost increase is shockingly high. The news is even worse in Auckland, where in 2018 a standard mortgage on an average house will cost 86% of the average New Zealand full time wage. Staggering.

And, even worse, escalating interest payments on current mortgages are set to eat up all of most mortgage-holders’ income gains over the next five years. All these New Zealanders’ standard of living will go backwards until 2018, despite a growing economy, because National is doing nothing on housing affordability.

Here is how the numbers break down (Excel here):

 

First home buyers

Here is a chart showing the projected cost increase for a new standard mortgage on an average home, calculated as a proportion of average full time wages:3

polity_mortgage_cost_forecasts

This huge hike in mortgage costs will kill off the dream of home ownership for tens of thousands more New Zealand families. In 2014, the median house price is around 7.7 times the average full time wage. By 2018, it will rise to be 8.0 times as much. Every time this ratio rises, more and more New Zealanders are forced to abandon home ownership. Even as this government published the figures that show how deep the crisis will get, in the Budget it did absolutely nothing to help first home buyers.

 

Mortgage holders

For those who do buy a home, the news isn’t any better. The soaring mortgage interest rates over the next five years could wipe out all their income gains over the period.

Real average full time earnings are projected to go from around $59,500 in 2014/15 to around $62,100 (2014 dollars) in 2018/19. The gain over the period, in real terms, is around $2,600 a year pre-tax, or about $1,800 after tax.4

But the interest rate increases will wipe out those gains entirely. A standard5 floating mortgage on a $467,000 home – the NZ median price in the first year of the forecast period – has payments that will rise from $29,700 a year in 2014 to a whopping $36,020 a year in 2018. Discounting for compound inflation, that is a real increase of around $2,900 (2014 dollars) a year, much more than an average full-time wage worker’s gains over that period.

income_and_mortgage_estimates

Families in this position will go backwards in their purchasing power, even as the economy grows strongly for five years. Even families with a full-time earner and also a part-time earner will likely go backwards.6

The combined effect of this unchecked house price inflation, and steeply rising interest rates, is as damaging as it is far-reaching:

First home buyers get it in the neck as rising prices and rising interest rates combine to make home ownership even less achievable.

Current mortgage holders get it in the neck because their mortgage payments will eat up an ever increasing portion of their income over the next five years, even though mortgage payments typically fall as a proportion of income over time.

And, to top it off, renters will also get it in the neck because most of them are renting from a landlord who has a ballooning mortgage.

Housing affordability is a crisis for New Zealand, and it is set to get much, much worse unless there is significant intervention in the housing market. As we saw in yesterday’s Budget, there is no danger of any such intervention coming from National, who seem to think that reducing the building cost of new homes by around 1% will solve the crisis. They are dreaming.

At the same time, New Zealanders are facing up to a nightmare.

1. 80%, 25 year
2. Median NZ price
3. These projections use Treasury figures from the BEFU, and when other raw data is needed they use the same sources as the Treasury used in the BEFU. I am using National’s own numbers, and my calculations are available here.
4. I use real wage gains, not nominal gains, as the comparison point here because interest rate changes are not counted in CPI inflation calculations.
5. 80%, 25 year
6. Of course, families with two good incomes may or may not technically go backwards, depending on what kind of house they choose to live in. Instead, they would merely have a large majority of their income gains eaten by mortgage payments.

20 comments on “Polity: House of Cards ”

  1. geoff 1

    The only possibly good thing that could come out of a housing crash is if it happened under National government.

    And that would be a very Pyrrhic victory indeed.

    Personally I don’t think they will put interest rates up as far as they project because, as you say, it will bankrupt many many people.

  2. vto 2

    Invest in tent manufacturers and Caravan Parks.

    But yeah nah there will most definitely be a crash, and a whopper, bigger than seen before.

    Dump your debt.

    • Colonial Viper 2.1

      And it’s not a joke. US investment funds have been sinking millions of dollars into buying up…trailer parks for the homeless and the indigent.

      http://www.zerohedge.com/news/2013-10-18/carlyle-group%E2%80%99s-latest-investment-trailer-parks

      • greywarbler 2.1.2

        That was interesting CV
        I thought this comment was prophetic –
        “these guys are very late to the game…these parks have always been known as cash cows….but they wil drive the people out when they raise the rents to cover their note…..”

        Also someone commented that the money to reside in them must be coming from government. So businessmen being wealth creators? Their trouble is that they have lost their edge, their entrepreneurship, they can only find something to invest in by mining our everyday needs. Charging us for going to the loo?

        The trouble is that too much money is accumulating in one swollen end of the economy creating explosive pressure. And not enough money is circulating throughout the body. Result leaks and explosions of money that is much needed elsewhere. Is that gout, anyway it’s painful as, and bad health for us all.

        • Colonial Viper 2.1.2.1

          It’s rentier-toll gate capitalism and hording of cash in financial assets.

          The crazy thing is that despite causing all this human suffering, there is a very good chance that the real value of those financial assets will crash in the years ahead (witness the housing bubble in Florida or Nevada as examples).

  3. vto 3

    This crisis could be averted by a wholesale change to the bank system i.e. ban interest like so many other societies do and have done before.

    It aint bloody rocket science.

    If the problem is debt and its interest then deal to the debt and its interest. The problem lies with the banking system, not the housing sector.

    It is the banks that are the problem.

    The banks are the problem not the housing sector.

    The banks are the problem not the housing sector.

    The banks are the problem not the housing sector.

    It is blatantly obvious from the very nature of the post. Come on Rob Salmond, sharpen up fulla …

    • Colonial Viper 3.1

      VTO +1

    • jh 3.2

      This crisis could be averted by a wholesale change to the bank system i.e. ban interest like so many other societies do and have done before.
      …..
      what about land taxes?

  4. Colonial Viper 4

    Q1 – what needs to be done to achieve the ideal home-ownership situation for ordinary New Zealanders.

    Q2 – which political party is offering that solution. (None of them currently)

    • Stuart Munro 4.1

      In answer to q1 A benchmark needs to be established.

      The government will intervene to lower real estate prices so that median or entry level house prices do not exceed (a fixed multiplier) of median wage.

      Many government initiatives are focused on families, and while the families certainly need support, single people need places to live also.

      The best intervention is probably building social housing – a proven method going back to Savage. But punitive taxes on rentiers and speculators are run by many countries and may make up part of the solution. State loans – and market access fees & conditions for foreign banks are also worth considering. Aussie banks could quite reasonably be obliged to offer equal interest rates in NZ and Aus for example, as a condition of market access.

      This is a reasonably important economic goal because at present any minor positive economic development in NZ is simply soaked up by the real estate sector. To achieve the kind of growth necessary to catch up with Aus & the OECD, positive effects need to felt in the market – workers need to be seeing more money.

  5. Keiv 5

    Isn’t the Average FT Wage quoted as Gross before tax ? If so, Rob’s figures are going to be out.

    eg. 2014 – $60416 FT nominal would be more like $4020 per month after tax (Ann $48.2K) , which would make the mortgage as a % around 61.56% (29700/48240)

  6. Jim 6

    The housing market runs in 7 year cycles, with the last cycle finishing in 2007. The amount of correction at the end of the cycle depends on the influencing factors at the time. At the moment we have rising interest rates and LVR’s put in place by the reserve bank to inhibit house price increases. These will be removed should house prices drop.
    We have booming net immigration mostly in Auckland, and a housing shortage in Christchurch due to the earth quake and slow government response through EQC and not bringing insurance companies into line. We also have a pent up need from an historical low in house building in the last 6 years. The result of all these factors will probably be only a slight correction in Auckland and Christchurch in the next 2 years and a slightly larger dip in other areas.
    How could have the current situation been prepared for better by the current government? In Auckland the housing accord agreed on by the government 8 months ago is almost identical to the one rubbished and not agreed to by the government 3 years ago. We will pay for this over the next two years as the land being freed up and intensification approved will take a long time to turn into houses. In Christchurch Big Gerry has a lot to answer for!

  7. A VOTER 7

    Well now, after the budget pock star economy report and prediction for what the Natzees are planning for us in the future takeover of NZ by the speculator engine which Key by his own history cannot escape being the promoter of leaves a worker less able to see a future in a country run by overseas interests that will take our democracy that we built and screw us into a third world country status by taking the profits away and pay next to no tax to the country because this govt cannot protect us from Key and his assignment from the corporate internationale that he owes his success to.
    Mind you one must forget the other two major culprits, RD Muldoon and Roger Douglas who both lead us down a path of rack and ruin with the destructive attitude towards socialism his country
    The current govt are a bunch of yappers selling the countries assets prolonging the inevitable result of what is happening in Australia which will hit here and Key will high tail it to one of his havens because the truth will be so obvious where as Roger the bugger Douglas stayed to inflict as much pain as possible by providing cover for the establishment of the Keydom
    IE if you were looking from the left in 1986 you were lookin from the right by the end of 1987 which is how you get a PM like Key.
    The 90,s was a happy time for the brainless labour contracts act the evil of all evils the destruction of unions the rise of Fascism aka JS A false sense of identity capitalists becoming insanely rich and the poor becoming despirately poor dog eat dog
    This present state of the nation is a bit like the mid 60’s full of false hope till the election of the labour govt in 1972 if your care to read history lets hope thats how it pans out.But dont forget the racism and EXTREME SOCIAL crime of the 70’s under Muldoon
    Nationals resources are so huge that they can forward plan their political candidates way past what the population are aware of .
    It not politicians who put confidence in people its people being aware and knowing the politicians MO that parties put up that gives the people confidence in the political system but so often THIS IS LOST IN THE ELECTION RA RA HOOPLAR.

    BE AWARE OF WHO YOU ARE VOTING IN TO POWER

  8. jh 8

    Winston says:

    Roads are made, streets are made, services are improved, electric light turns night
    into day, water is brought from reservoirs a hundred miles off in the mountains —
    and all the while the landlord sits still. Every one of those improvements is effected
    by the labour and cost of other people and the taxpayers. To not one of those
    improvements does the land monopolist, as a land monopolist, contribute, and yet by
    every one of them the value of his land is enhanced. He renders no service to the
    community, he contributes nothing to the general welfare, he contributes nothing to
    the process from which his own enrichment is derived. (Winston Churchill, 1909,
    quoted by Barker 2003, p. 116).

    http://www.nuff.ox.ac.uk/politics/papers/…/McLean%20Land%20tax.pdf

  9. jh 9

    you can’t blame it all on an evil out side the people (capitalism, banking sytem etc).
    Within politics there is a strong humanitarian sentiment which translates to solving problems by absorbing them (NZ, US, Europe, Canada, Australia: the great sponges). This is unrealistic; our first responsibility is to ourselves.

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
    2 days 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
    2 days 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 days 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
    2 days 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
    2 days 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
    3 days 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
    3 days ago
  • Opening statement for Whāriki Indigenous Small Business Roundtable
      Kei ngā tōpito e wha o te āo e rere ana te mihi maioha ki a koutou nō tawhiti, nō tata mai e tāpiri ana ki tēnei taumata kōrero mo te ao hokohoko arā mā ngā pākihi mo ngā iwi taketake Tēnā koutou, tēnā koutou katoa – Pai Mārire.  ...
    BeehiveBy beehive.govt.nz
    4 days 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
    4 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
    4 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
    4 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
    4 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
    5 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
    5 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
    5 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
    6 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
    6 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
    6 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
    6 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
    1 week 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
    1 week 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
    1 week 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
    1 week 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
    2 weeks 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
    2 weeks 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
    2 weeks 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
    2 weeks 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
    2 weeks 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
    2 weeks 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
    2 weeks 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
    2 weeks ago