web analytics

Reserve bank cuts OCR to record low

Written By: - Date published: 9:21 am, August 11th, 2016 - 28 comments
Categories: economy, john key, monetary policy - Tags: , , , ,

At 9am this morning:

Reserve Bank cuts rates – down to 2pc

The Reserve Bank has just the Official Cash Rate by 0.25 pc to a new record low of 2 per cent.

Traders and economists tipped an interest rate cut as a foregone conclusion and a minority were betting the stubbornly high kiwi dollar is a big enough threat to its policy targets to prompt governor Graeme Wheeler to reduce the official cash rate by 50 basis points in one move.

The OCR currently sits at 2 per cent – the lowest point since the rate was introduced in 1999. …

This is not good (economic) news. Take a read of: Ryan Greenaway-McGrevy warns that low interest rates are not manna from heaven – they are a consequence of the economic climate and tell us something about where the economy is headed. Consider in context with Advantage’s post this morning: The great slowdown.

Key has called for the rate cut to be passed on in full to borrowers, earning him a rebuke from the banking sector:

Reserve Bank’s interest cuts will not be fully passed on by banks: ANZ chief economist

ANZ’s chief economist Cameron Bagrie doubts banks will pass on the full impact of Thursday’s expected interest rate cut, and borrowers will see even smaller savings as the benchmark rate goes lower.

Prime Minister John Key, a former currency trader, said on Monday that the banks should pass on the savings “in full” to borrowers.

But Bagrie, who in March correctly predicted that banks would use at least part of a surprise interest rate cut to cover increased funding costs, said Thursday’s cut was also likely to at least in part be used to protect margins and prevent cuts to depositors.

“Funding costs are up. If you look at where we are raising money today versus where we were last year, credit growth is outstripping deposit growth, which is just unsustainable. You’ve got to have money coming in the door before you can put it out the door,” Bagrie said.

“We’ve got to see less credit and more deposits. Unfortunately pricing signals are incentivising the reverse.”

“In order to be putting money out the door you’ve got to be attracting a deposit base. At some point you get these rates down so low, people just think ‘i’ve got to do something else with my money’,” Bagrie said.

“So we are getting to that point of diminishing returns, where each incremental nudge lower in the official cash rate is actually going to create some perverse outcomes because it doesn’t follow naturally that you can keep on lowering those borrowing rates if you can’t continually take those deposit rates lower at the same rate.”

Asked if he expected pressure to go on banks for lower borrowing rates, similar to Key’s comments, Bagrie said the reaction was natural, but appeared to ignore the make up of bank balance sheets. …

We are in strange territory.

(Update: See Gordon Campbell on the Impotence of the Reserve Bank )

28 comments on “Reserve bank cuts OCR to record low ”

  1. ianmac 1

    Didn’t Key say in a QT response yesterday that what Rutherford says doesn’t count because he is just a journalist? If so it is a typical Key dismissive of those he disagrees with.

  2. Lara 2

    Bagrie is right on that. The return for those who are prudent and trying to save (for a home? for anything!) rather than getting into debt is absolutely pathetic.

    I see the monthly interest payments on savings and wonder why on earth I’m risking it leaving it in the bank. The pathetic return barely compensates the risk.

  3. s y d 3

    interest rates cut, but NZ dollar gains…figure that one out?

    • grumpy 3.1

      Just about to say the same thing! Sort of goes against everything the Great God Samuelson taught us, eh?

      • RedLogix 3.1.1

        That’s because we are in Debt to GDP territory Samuelson never contemplated. Different place, different rules now apply.

    • dukeofurl 3.2

      Easy, its a dead cat bounce.

      remember they dont buy and sell real dollars, just bits of paper that say you will buy x amount at y price on z date.

      Looking at the rates over the last month, they are mostly down, except NZ-US

    • Lanthanide 3.3

      The market had priced in something like a 0.40% cut.

      Because it was only cut by 0.25%, the dollar went up. If it had been cut by 0.50%, the dollar would have gone down. If it had been cut by 0.40%, the dollar would presumably have been unchanged.

      • Huginn 3.3.1

        It’s more complicated than that.

        ‘Reductions in policy rates to extremely low or negative levels appear to be dysfunctional – perhaps even a tightening of monetary policy. I will not rehearse the straightforward arguments as to why, and the early evidence. Suffice it to say that the most significant event in financial markets this year was the response of asset prices to the surprise cut in Japanese policy rates in January – the currency strengthened, risk assets fell. That looks like a tightening.’

        Eric Lonergan

        http://www.philosophyofmoney.net/there-are-two-types-of-negative-interest-rates/

  4. ropata 4

    Another attack on the working poor and the productive sector by financial villains. Why the hell are we propping up the parasites at the expense of real workers?

    • Anno1701 4.1

      ” at the expense of real workers?”

      beacause they (we) arent properly organized

      we need mobilization ASAP !

  5. Draco T Bastard 5

    “We’ve got to see less credit and more deposits. Unfortunately pricing signals are incentivising the reverse.”

    “In order to be putting money out the door you’ve got to be attracting a deposit base.

    I’d say that’s weird but it stands to reason.

    When someone takes out a loan from the bank the bank creates the money and gives to them in their bank account. Both loans and deposits increase. This should be true no matter which bank it was deposited in. If it’s no longer true then either the money is being withdrawn as cash and not being put back into the banking system at all (yeah, right) or it’s leaving the country and being placed in offshore banks.

    Now, which group of companies are really great at exporting money? Oh, that’s right – the foreign owned banks.

    Basically, what we seem to be seeing here is another detrimental aspect of foreign ownership.

    And we shouldn’t forget all those rich people dodging paying taxes by use of tax havens.

  6. G C 6

    The Reserve Bank thinks they can control the NZ dollar through interest rates. I have news for the dead wood at the RBNZ, that horse detached from the cart agers ago.

  7. G C 7

    The Reserve Bank thinks they can control the NZ dollar through interest rates. I have news for the dead wood at the RBNZ, that horse detached from the cart agers ago.

  8. Keith 8

    Its also very ironic that the RB are worried about property inflation but then have to lower rates because the Rockstar economy is deflating.

    More temporary foreign workers will be the answer from National to complete the insanity.

  9. b waghorn 9

    but but henry told me this morning now is the time to borrow more , and even floated the idea of borrowing to by shares due to shares getting 6% returns at the moment.

    (just chucked that in so people can see where these low rates could lead to, i have no intention of ever doing a thing that douche henry says)

    • Anno1701 9.1

      “but but henry told me this morning now is the time to borrow more , ”

      VERY irresponsible broadcasting

      i even heard him state that his listeners were “cowards” if they didnt borrow…

      • mosa 9.1.1

        Don’t watch him !!!
        It only adds to his ratings, he is the last person who should give advice.
        I wish he would go and boil his head.

        • save nz 9.1.1.1

          +1 Mosa – the good thing though is that TV ratings are bogus anyway as they only measure 600 people or something ridiculous. Just don’t click on any Henry Internet link – the Internet is brutal for showing real figures…

    • Craig H 9.2

      Borrowing to invest is always risky territory, but it’s a legit point that if you are willing to risk it, there’s good profit in it if you focus on dividends, not capital gain. Obviously, you could end up with nothing if the company folds, but that’s why they pay more – higher risk = higher reward.

  10. Paul Campbell 10

    So I was listening to some talk radio today and someone made the point that the Reserve Bank was running outside it’s inflation goals (inflation is too low, the economy is stagnating). There was a whole lot of gnashing of teeth about what they could do to get inflation back to 2%.

    Not one person suggested raising wages

  11. G C 11

    Let me spell-it-out for you ALL:

    When the RBNZ cuts rates, it’s a sign that the speculative housing market will continue, as speculators will have access to even cheaper money. Therefore fake GDP will continue, as such the NZD will continue to rise (be in demand).

    • Nic the NZer 11.1

      Hmm, thanks for the ‘insight’.

      However observing the actual outcomes in NZ I note that interest rates were significantly higher between 2003 and 2008 and this didn’t appear to discourage a fair amount of speculative housing market activity occuring over that time period either. In fact it is broadly agreed by many that a housing bubble formed over this period and collapsed following the financial crisis.

      Maybe in fact interest rates work in the other direction and the reserve bank is somewhat obliged to set low rates in response to NZ’s significant level of private sector debt. This could occur because the significant existing debt is encouraging sluggish borrowing and may encourage more sluggish borrowing (or net debt repayment) at higher rates.

  12. save nz 12

    Has anyone worked out that if nobody gets paid enough to live on, and the ‘essentials’ that people are forced to spend their money on, are overseas owned or legally avoiding taxes, then the economy will stagnate….

    It is staggering how much ordinary issues like parking and is so overpriced in NZ, they keep dreaming up ways to charge more. Or power daily rates which often cost more than the power… Ticketing is a popular way to get extra revenue..even if you don’t owe it you still are expected to pay for it and have to waste your time on disputing stupid officials…http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11691804

    School donations that are not donations but fees, etc

    Stuff that we are told is free or discretionary, but you are expected to pay for it.

    Even if you had a mortgage free home, when you pay for all the necessities then on minimum wages you would have nothing left.

    The other day we were talking about how in a so called well paid job at a telecoms company after paying childcare and parking in Auckland, a worker probably only earned $60 a day. What about everything else like accommodation, food, bills etc

    Low wages and price gouging is why the economy is stagnating.

  13. Atiawa 13

    The Reserve Bank Governor is a great name for the role he plays. Sitting on the bench for the last seven years waiting for the coach to put him into action on the court.

  14. Thinkerr 14

    I’m part-way through a 1932 book by an economist, Irving Fisher, called ‘Booms and Depressions’.

    Too much to summarise, but pdfs of the book are free to download if you search for them.

    Three points the book makes are very interesting for our current times (I might not have them quite right, it is a difficult read):

    1. We think of money as an asset, but it’s really not, because most money in circulation started out as a loan to someone (see point 2).

    2. The banks have a multiplier, so every dollar deposited allows them to lend, say, $10. So, when deposits stop coming in, it actually shrinks the amount of money in circulation, because most of the ‘money’ in circulation started out by being loaned to someone. Having less deposits means the banks can’t re-lend loans as they are repaid.

    3. When the amount of money in circulation shrinks, the ‘real’ value of the remaining dollars gets bigger. The loan balance stays the same, but businesses, particularly, have to work harder to find the money to meet their liabilities.

    I don’t fully understand the book (probably need to read it over again), but some of the comments and news headlines are eerily reminiscent of what I’ve just been reading.

Recent Comments

Recent Posts

  • The Duke of Edinburgh
    Prime Minister Jacinda Ardern today expressed New Zealand’s sorrow at the death of His Royal Highness The Prince Philip, Duke of Edinburgh. “Our thoughts are with Her Majesty The Queen at this profoundly sad time.  On behalf of the New Zealand people and the Government, I would like to express ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Five Country Ministerial Communiqué
    We, the Home Affairs, Interior, Security and Immigration Ministers of Australia, Canada, New Zealand, the United Kingdom and the United States of America (the ‘Five Countries’) met via video conference on 7/8 April 2021, just over a year after the outbreak of the COVID-19 global pandemic. Guided by our shared ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Inspiring creativity through cultural installations and events
    Arts, Culture and Heritage Minister Carmel Sepuloni has today announced the opening of the first round of Ngā Puninga Toi ā-Ahurea me ngā Kaupapa Cultural Installations and Events. “Creating jobs and helping the arts sector rebuild and recover continues to be a key part of the Government’s COVID-19 response,” Carmel ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Drug-testing law to be made permanent
    Interim legislation that is already proving to keep people safer from drugs will be made permanent, Health Minister Andrew Little says. Research by Victoria University, on behalf of the Ministry of Health, shows that the Government’s decision in December to make it legal for drug-checking services to operate at festivals ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Better rules proposed for freedom camping
    Public consultation launched on ways to improve behaviour and reduce damage Tighter rules proposed for either camping vehicles or camping locations Increased penalties proposed, such as $1,000 fines or vehicle confiscation Rental companies may be required to collect fines from campers who hire vehicles Public feedback is sought on proposals ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Government backs Air New Zealand as Trans-Tasman bubble opens
    The Government is continuing to support Air New Zealand while aviation markets stabilise and the world moves towards more normal border operations. The Crown loan facility made available to Air New Zealand in March 2020 has been extended to a debt facility of up to $1.5 billion (an additional $600 ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Building gifted for new community hub in Richmond red zone
    Christchurch’s Richmond suburb will soon have a new community hub, following the gifting of a red-zoned property by Land Information New Zealand (LINZ) to the Richmond Community Gardens Trust. The Minister for Land Information, Damien O’Connor said that LINZ, on behalf of the Crown, will gift a Vogel Street house ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Pacific languages funding reopens
      Minister for Pacific Peoples Aupito William Sio says the reopening of the Ministry for Pacific Peoples’ (MPP) Languages Funding in 2021 will make sure there is a future for Pacific languages. “Language is the key to the wellbeing for Pacific people. It affirms our identity as Pasifika and ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • ERANZ speech April 2021
    It is a pleasure to be here tonight.  Thank you Cameron for the introduction and thank you for ERANZ for also hosting this event. Last week in fact, we had one of the largest gatherings in our sector, Downstream 2021. I have heard from my officials that the discussion on ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Strengthening Māori knowledge in science and innovation
    Research, Science and Innovation Minister Megan Woods has today announced the 16 projects that will together get $3.9 million through the 2021 round of Te Pūnaha Hihiko: Vision Mātauranga Capability Fund, further strengthening the Government’s commitment to Māori knowledge in science and innovation.  “We received 78 proposals - the highest ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Government delivers next phase of climate action
    The Government is delivering on a key election commitment to tackle climate change, by banning new low and medium temperature coal-fired boilers and partnering with the private sector to help it transition away from fossil fuels. This is the first major announcement to follow the release of the Climate Commission’s ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Continued investment in Central Otago schools supports roll growth
    Six projects, collectively valued at over $70 million are delivering new schools, classrooms and refurbished buildings across Central Otago and are helping to ease the pressure of growing rolls in the area, says Education Minister Chris Hipkins. The National Education Growth Plan is making sure that sufficient capacity in the ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Two more Christchurch schools complete
    Two more schools are now complete as part of the Christchurch Schools Rebuild Programme, with work about to get under way on another, says Education Minister Chris Hipkins. Te Ara Koropiko – West Spreydon School will welcome students to their new buildings for the start of Term 2. The newly ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Independent experts to advise Government on post-vaccination future
    The Government is acting to ensure decisions on responding to the next phase of the COVID-19 pandemic are informed by the best available scientific evidence and strategic public health advice. “New Zealand has worked towards an elimination strategy which has been successful in keeping our people safe and our economy ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Supporting Māori success with Ngārimu Awards
    Six Māori scholars have been awarded Ngārimu VC and the 28th (Māori) Battalion Memorial scholarships for 2021, Associate Education Minister and Ngārimu Board Chair, Kelvin Davis announced today. The prestigious Manakura Award was also presented for the first time since 2018. “These awards are a tribute to the heroes of the 28th ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Global partnerships propel space tech research
    New Zealand’s aerospace industry is getting a boost through the German Aerospace Centre (DLR), to grow the capability of the sector and potentially lead to joint space missions, Research, Science and Innovation Minister Megan Woods has announced. 12 New Zealand organisations have been chosen to work with world-leading experts at ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Government backs more initiatives to boost food and fibre workforce
    The Government is backing more initiatives to boost New Zealand’s food and fibre sector workforce, Agriculture Minister Damien O’Connor announced today. “The Government and the food and fibres sector have been working hard to fill critical workforce needs.  We've committed to getting 10,000 more Kiwis into the sector over the ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Minister welcomes Bill to remove Subsequent Child Policy
    Minister for Social Development and Employment Carmel Sepuloni has welcomed the first reading of the Social Security (Subsequent Child Policy Removal) Amendment Bill in the House this evening. “Tonight’s first reading is another step on the way to removing excessive sanctions and obligations for people receiving a Main Benefit,” says ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Mental Health Amendment Bill passes first reading
    The Government has taken a significant step towards delivering on its commitment to improve the legislation around mental health as recommended by He Ara Oranga – the report of the Government Inquiry into Mental Health and Addiction, Health Minister Andrew Little says. The Mental Health (Compulsory Assessment and Treatment) Amendment ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Whenua Māori Rating Amendment Bill passes third reading
    Local Government Minister Nanaia Mahuta has welcomed the Local Government (Rating of Whenua Māori) Amendment Bill passing its third reading today. “After nearly 100 years of a system that was not fit for Māori and did not reflect the partnership we have come to expect between Māori and the Crown, ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Trans-Tasman bubble to start 19 April
    New Zealand’s successful management of COVID means quarantine-free travel between New Zealand and Australia will start on Monday 19 April, Prime Minister Jacinda Ardern announced today. Prime Minister Jacinda Ardern and COVID-19 Response Minister Chris Hipkins confirmed the conditions for starting to open up quarantine free travel with Australia have ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Ngāti Hinerangi Claims Settlement Bill passes Third Reading
    Minister for Treaty of Waitangi Negotiations Andrew Little welcomed ngā uri o Ngāti Hinerangi to Parliament today to witness the third reading of their Treaty settlement legislation, the Ngāti Hinerangi Claims Settlement Bill. “I want to acknowledge ngā uri o Ngāti Hinerangi and the Crown negotiations teams for working tirelessly ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Independent group announced to advise on firearms matters
    Minister of Police Poto Williams has announced the members of the Ministers Arms Advisory Group, established to ensure balanced advice to Government on firearms that is independent of Police. “The Ministers Arms Advisory Group is an important part of delivering on the Government’s commitment to ensure we maintain the balance ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Kiri Allan to take leave of absence
    Kiri Allan, Minister of Conservation and Emergency Management will undertake a leave of absence while she undergoes medical treatment for cervical cancer, Prime Minister Jacinda Ardern announced today. “I consider Kiri not just a colleague, but a friend. This news has been devastating. But I also know that Kiri is ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Excellent progress at new Waikeria prison build
    Excellent progress has been made at the new prison development at Waikeria, which will boost mental health services and improve rehabilitation opportunities for people in prison, Corrections Minister Kelvin Davis says. Kelvin Davis was onsite at the new build to meet with staff and see the construction first-hand, following a ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Expert panel proposes criminal limits for drug driving
    To reduce the trauma of road crashes caused by drug impaired drivers, an Independent Expert Panel on Drug Driving has proposed criminal limits and blood infringement thresholds for 25 impairing drugs, Minister of Police Poto Williams and Transport Minister Michael Wood announced today. The Land Transport (Drug Driving) Amendment Bill ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Covid-19 immigration powers to be extended
    Temporary COVID-19 immigration powers will be extended to May 2023, providing continued flexibility to support migrants, manage the border, and help industries facing labour shortages, Immigration Minister Kris Faafoi announced today. “Over the past year, we have had to make rapid decisions to vary visa conditions, extend expiry dates, and ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Covid-19 imgration powers to be extended
    Temporary COVID-19 immigration powers will be extended to May 2023, providing continued flexibility to support migrants, manage the border, and help industries facing labour shortages, Immigration Minister Kris Faafoi announced today. “Over the past year, we have had to make rapid decisions to vary visa conditions, extend expiry dates, and ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • More support for mums and whānau struggling with alcohol and other drugs
    The Government is expanding its Pregnancy and Parenting Programme so more women and whānau can access specialist support to minimise harm from alcohol and other drugs, Health Minister Andrew Little says. “We know these supports help improve wellbeing and have helped to reduce addiction, reduced risk for children, and helped ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Ahuwhenua Trophy Competition Field Day – Tātaiwhetū Trust at Tauarau Marae, Rūātoki
    *** Please check against delivery *** It’s an honour to be here in Rūātoki today, a rohe with such a proud and dynamic history of resilience, excellence and mana. Tūhoe moumou kai, moumou taonga, moumou tangata ki te pō. The Ahuwhenua Trophy competition is the legacy of a seed planted ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Crown accounts again better than forecast
    The economic recovery from COVID-19 continues to be reflected in the Government’s books, which are again better than expected. The Crown accounts for the eight months to the end of February 2021 showed both OBEGAL and the operating balance remain better than forecast in the Half Year Economic and Fiscal ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • FIFA Women’s World Cup to open in New Zealand
    Sport and Recreation Minister Grant Robertson and Economic Development Minister Stuart Nash have welcomed confirmation New Zealand will host the opening ceremony and match, and one of the semi-finals, of the FIFA Women’s World Cup in 2023. Grant Robertson says matches will be held in Auckland, Hamilton, Wellington and Dunedin, ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • 1 April changes raise incomes for 1.4 million New Zealanders
    Changes to the minimum wage, main benefit levels and superannuation rates that come into force today will raise the incomes for around 1.4 million New Zealanders. “This Government is committed to raising the incomes for all New Zealanders as part of laying the foundations for a better future,” Minister for ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • New Dunedin Hospital – Whakatuputupu approved for fast track consenting process
    The New Dunedin Hospital – Whakatuputupu has been approved for consideration under the fast track consenting legislation.  The decision by Environment Minister David Parker signifies the importance of the project to the health of the people of Otago-Southland and to the economy of the region.  “This project ticks all the ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Next steps for Auckland light rail
    Transport Minister Michael Wood is getting Auckland light rail back on track with the announcement of an establishment unit to progress this important city-shaping project and engage with Aucklanders. Michael Wood said the previous process didn’t involve Aucklanders enough.                       ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Tourism fund to prioritise hard-hit regions
    The Minister of Tourism is to re-open a government fund that supports councils to build infrastructure for visitors, with a specific focus on regions hardest hit by the loss of overseas tourists. “Round Five of the Tourism Infrastructure Fund will open for applications next month,” said Stuart Nash. It ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Governance Group to lead next phase of work on a potential new public media entity
    A Governance Group of eight experts has been appointed to lead the next phase of work on a potential new public media entity, Minister for Broadcasting and Media Kris Faafoi announced today.  “The Governance Group will oversee the development of a business case to consider the viability of a new ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • New funding to keep tamariki and rangatahi Māori active
    Minister for Māori Development Willie Jackson today helped launch a new fund to provide direct financial support for tamariki and rangatahi Māori throughout the South Island who is experiencing financial hardship and missing out on physical activity opportunities. “Through Te Kīwai Fund, we can offer more opportunities for Māori to ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Single tāne, sole parent dads supported into papakāinga housing
    Six whānau in Pāpāmoa receive the keys to their brand-new rental homes today, in stage four of a papakāinga project providing safe and affordable housing in the regions. Minister for Māori Development, Willie Jackson congratulates Mangatawa Pāpāmoa Blocks Incorporated on the opening of three affordable rentals and three social housing ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Speech to Disarmament and Security Centre
    Kia ora tatou. It’s great to be here today and to get a conversation going on the disarmament issues of greatest interest to you, and to the Government. I’m thrilled to be standing here as a dedicated Minister for Disarmament and Arms Control, which I hope reinforces for you all ...
    BeehiveBy beehive.govt.nz
    2 weeks ago