Sell assets to avoid debt; take on debt to build motorways – huh?

Written By: - Date published: 7:05 am, August 16th, 2012 - 76 comments
Categories: debt / deficit, energy, privatisation, transport - Tags:

So, let me get this straight. Debt is bad. So bad, in fact, that the Government is willing to sell assets that produce higher returns than its cost of borrowing to free up money and avoid taking on more debt. That would actually increase government borrowing by $100m+ a year forever but, in the short-term, would offset the need to borrow $6 billion. But this same Government is now planning to borrow to fill a $5 billion hole in its transport budget caused by its unneeded motorway projects.

The rules of business are pretty simple:

If you’re going to borrow, do it for things that produce wealth in excess of the cost of borrowing.

If you’re going to sell assets, do it when you have a use for the money that is more valuable than the returns (and other benefits) of asset ownership that you’re giving up.

National’s doing the exact opposite: selling valuable assets to avoid low-cost debt, then taking on about the same amount of debt to build motorways that are worse than worthless, with costs that exceed their benefits.

It’s like selling the money tree for firewood, and then going out and buying a white elephant on the credit card.

It doesn’t make sense. Well, it doesn’t if your objective is the best outcomes for New Zealand. If you’re looking out for the elite – who want high return assets at bargain prices and want taxpayer-subsidised roads to their holiday homes – then it makes perfect sense.

76 comments on “Sell assets to avoid debt; take on debt to build motorways – huh? ”

  • Comments are now closed

  1. vto 1
    16 August 2012 at 8:23 am

    It is because this lot are deceptive and blatant liars.

    And it is because not a single media outlet anywhere in the land asks them these simple questions nor outlines these simplicities to the public.

    And it is also because this government continues to prove that the right wing mantra of free market is best and that they are best at business is complete and utter hogwash. Examples include centrist intervention in the Christchurch rebuild rather than letting the free market create a beautiful and perfect city (if ever there was an opportunity for the free market to prove itself once and for all this is it); include taxpayer support for the private stock market, the NZX, rather than let these little boys find their own way in the big bad world; include the need to take electricity companies off taxpayers for private investment because private investment has been incapable of creating its own electricity companies.

    All basic premises of recent right wing mantra have been proved incapable, useless and simply wrong by the actions of this government. Their words and their actions are opposites. It should therefore not surprise that they claim borrowing is bad while at the same time borrowing.

    • Tom Gould 1.1
      16 August 2012 at 3:11 pm

      Don’t expect to read such an obvious clear headed analysis from any of the brain dead lazy Tory chooks in the Gallery.

    • Draco T Bastard 1.2
      16 August 2012 at 6:42 pm

      +1

      And it’s not just the actions of this government that prove that free-market capitalism is a con – the entire GFC and the fraud that the banks were/are engaged in that brought it about prove it beyond doubt.

  2. ad 2
    16 August 2012 at 8:26 am

    Slightly tangentially, did anyone else go to the Transport Blog fundraiser last night? God it was so cool to be ni a whole picture theatre full of transport nerds, and all so utterly progressive. Everyone hating the motorway programme, all wearing their CRL Yes badges. It was like a littke bubble of happiness – with Twyford and Genter – against the current drudgery of this pro-motorway government.

    • Carol 2.1
      16 August 2012 at 8:29 am

      Thanks for the report. Glad to see Genter and Twyford are onto it and working together.

  3. AmaKiwi 3
    16 August 2012 at 9:13 am

    Tui beer ad: “NZ is one of the least corrupt countries in the world. Yeah right.”

    We don’t have corruption because we don’t have anyone to investigate and prosecute it.

    “National is not being bribed by the highway construction companies. Yeah right.”

  4. King Kong 4
    16 August 2012 at 9:44 am

    Governments borrow for large infrastructure projects because it is patently unfair to foist the cost of the project onto current taxpayers when the benefit extends through to future taxpayers. Debt repayments means that those benefiting pay as well.

    • thatguynz 4.1
      16 August 2012 at 10:18 am

      Even though I know the answer I’ll ask the question anyway..
       
      Given we are a sovereign nation and the Govt theoretically has control of the money supply via the Reserve Bank, perhaps you could explain why it makes sense to borrow the money from the international marketplace at all? 

      • King Kong 4.1.1
        16 August 2012 at 10:41 am

        Nothing to stop domestic investors buying Government bonds.

        • thatguynz 4.1.1.1
          16 August 2012 at 10:52 am

          I think you’ve missed the point.  Why do the government not create the money themselves for core infrastructure projects as opposed to borrowing it from the international institutions?

          • King Kong 4.1.1.1.1
            16 August 2012 at 11:01 am

            For the same reason the Government doesn’t invest in research into engineering golden geese which could also cover the costs.

            • Colonial Viper 4.1.1.1.1.1
              16 August 2012 at 11:13 am

              The Government can issue the money required to fund the projects, debt free, interest free. No need to fire up the printing presses even. Just write the spending authorisation into the Budget and credit the Consolidated Account with the amount needed.

              • thatguynz …
                16 August 2012 at 11:58 am

                Precisely CV 🙂 
                 
                We would of course annoy the IMF/BIS/WB etc but quite frankly, given the direction that the world economy has taken under their “stewardship” – who cares….

              • muzza …
                16 August 2012 at 2:38 pm

                No response from KK at that point, as when faced with a question which can’t be answered, he runs away.

                Of course our sovereign governmenet can issue infrastructure funds, any time it likes with owing a priviate foreign entity a cent!

                The NACT govt IMO are on a mission to bankrupt the country. Sell income generating, strategically crucial services, and borrow money to pay for things we do not need. Both enrish the rich paymasters further, and ensure that when NZ does broke, and $120bn worth of off balance sheet derivatives along side the total net debt, says that we will, then the roads we have paid for, will be taken by those same entities we borrowed the money from, to pay for them…

                The rest of the “assets” will be taken as well, and the “loans” we are forced to take from the IMF/WB, will mean forced cuts to services into the bargain.

                Wont happen, nah we are special down here….

                • Draco T Bastard …
                  16 August 2012 at 6:50 pm

                  Of course our sovereign governmenet can issue infrastructure funds, any time it likes without owing a private (domestic or foreign) entity a cent!

                  FIFY

                  I’ve been known to miss out entire words before as well.

            • Polish Pride 4.1.1.1.1.2
              16 August 2012 at 11:15 am

              That is the most BS argument ever. No reasearch needed the golden goose so to speak is fractional reserve banking! It already exists so instead of borrowing from the privately owned fractional reserve banking system….Nationalize it. Then they can put all the golden eggs toward paying off debt.,building roads and any other infrastructure they feel feel like. Common sense really. Borrowing as we do now instead is sheer lunacy!

              • Maxamillian …
                31 August 2012 at 12:00 am

                I’m with you guys on the government just spending into the economy. But its even easier than you think – the system already allows the goverment to spend as much as it likes. Govt debt isn’t really debt. Read up on it – http://neweconomicperspectives.org/p/modern-monetary-theory-primer.html

                • mike e …
                  31 August 2012 at 12:24 am

                  max QE is what works borrowing is not required.
                  Thats what all big economies do that devalues their currencies and makes ours so expensive.

                  • Colonial Viper …
                    31 August 2012 at 12:40 am

                    NZ authorities have a naive concept of the free currency markets. W

                    e refuse to acknowledge that every major economy (EU, UK, Japan, US) are effectively printing money without limit. And our exporters get pummeled by their cheap currencies and end up looking too expensive in foreign markets.

                    • thatguynz …
                      31 August 2012 at 12:53 am

                      I don’t actually believe its because of naivety CV – in fact you summed it up in your comment.. The MAJOR economies print like there is no tomorrow. Even though we’re one of the top 7 traded currency pairs we’re still far from a major economy. Ergo – we damn well do whatever the IMF, the BIS and the World Bank damn well tell us to do…

                      What we actually NEED is autonomy. Then we’d be having a much much different discussion… But show me one political party that has anywhere near enough chutzpah to start suggesting that 🙂

                    • Colonial Viper …
                      31 August 2012 at 1:06 am

                      Yep. Banksters like Key were put in charge, and are supported in power, to prevent anything like sovereign or societal autonomy from occurring.

                    • thatguynz …
                      31 August 2012 at 1:11 am

                      Bingo.. 🙂

            • mike e 4.1.1.1.1.3
              16 August 2012 at 4:39 pm

              So true king kong if they invested as much in research and development we would eventually be making golden eggs.
              rather than piles of debt.
              This government has continually ignored and cut R&D spending.

      • blue leopard 4.1.2
        16 August 2012 at 2:57 pm

        @ thatguynz

        +1

      • Tom 4.1.3
        16 August 2012 at 3:31 pm

        If you borrow from overseas its converted into NZD and the liquidity in the system remains the same as someone else sold it to you, but if you go to the reserve bank then the money supply increases putting in more liquidity ie quantitive easing. This is what they do to change the OCR manipulate the liquidity in the system

    • Polish Pride 4.2
      16 August 2012 at 10:19 am

      Well then perhaps the system is outdated and we should change to one where we no longer need to do this…….ever again.

    • Polish Pride 4.3
      16 August 2012 at 10:29 am

      Or let me put what thatGuynz has eluded to a little more bluntly – Why don’t we nationalize the fractional reserve banking system. If we need money for projects like this and money is being created out of thin air by the private banking system. Then surely we should nationalize banking so that the Govt can create this money out of thin air and use it to build the roads. Surely it should do that rather than borrowing from the private banking system. In fact it could do this and pay off the rest of the debt at the same time!

      Now before you go down the inflation track – I’m not proposing anything that the system is not already doing…just shifting the responsibilities.

    • Lightly 4.4
      16 August 2012 at 11:15 am

      borrowing for infrastructure makes sense only if the infrastructure you’re building is worth the cost incurred. Puhoi to Wellsford and Transmission Gully aren’t worthwhile. The Government’s own numbers say they’re worth less than their costs.

      • Polish Pride 4.4.1
        16 August 2012 at 11:19 am

        Borrowing never makes sense under any circumstances if something exists within the system already that would let you create money.
        Think of it like this If you have a have discovered the secrets of Alchemy and you can turn lead into gold in the back room of your house. Are you going to borrow some money? or buy some lead?
        Nationalizing the fractional reserve system would be buying the lead!

        • King Kong 4.4.1.1
          16 August 2012 at 11:28 am

          Why stop there? Nationalize the energy providers, food producers, contruction companies, supermarkets…

          There was a couple of countries who tried this last century I think. How did that turn out again?

          • Colonial Viper 4.4.1.1.1
            16 August 2012 at 11:34 am

            How’s free market capitalism turning out for the EU and the US, buddy?

            • King Kong 4.4.1.1.1.1
              16 August 2012 at 11:40 am

              The people have never been wealthier. healthier or more educated so not too bad I guess.

              • vto …
                16 August 2012 at 11:49 am

                .
                wrong.

                for evidence re education go look in the mirror you egg.

              • thatguynz …
                16 August 2012 at 12:03 pm

                Seriously?  I’m hoping you’re taking the piss and you aren’t truly that uninformed.
                 
                Try having a look at the debt positions of each of those countries and tell me they’re better off?  You don’t see a debt bubble that not only makes a mockery of growth projections but can also NEVER be paid back?
                 
                Do you also believe that the “GFC” was solely due to the sub-prime housing market and it’s over?

                • King Kong …
                  16 August 2012 at 12:24 pm

                  CV asked me if free market capitalism had been a successful model for US and EU and if you looked on a graph and plotted the way the lines have gone over history for average income, minimum income, life expectancy, university attendance, literacy, infant mortality, home ownership, access to healthcare, access to transportation, technology and innovation advances…You would have to answer a resounding yes.

                  Looking at the last four years in isolation is as disingenuous as saying that climate change theory is proved to be bunk based on the last 4 years of climate data showing none to little increase in warming.

                  • framu …
                    16 August 2012 at 12:59 pm

                    your ignoring that, for example: in the US the biggest rise in all those factors and more, was under a managed economy (still capitalism) and their biggest decline (still ongoing) has been as a result of free market capitalism

                    there are different kinds of capitalism, just like there are different kinds of socialism (or any other ism you care to mention). Going to the extreme of either end is bad news

                  • thatguynz …
                    16 August 2012 at 1:05 pm

                    That’s not what I said.  Yes, the last 4 years has seen what has quaintly been referred to as the “Global Financial Crisis” however the debt issue (or bubble) has been created over a much longer timeframe.  The relaxation of lending criteria to brorrowers who really couldn’t afford to buy houses is simply the current issue du jour.  Obviously that simple example isn’t taking into account the financial products subsequently created which amplify the magnitude of the problem.  As with any financial bubble the standard of living increases while the going is good.  When it starts to unravel or unwind however it is a much different story.
                     
                    Very simply put – when the interest on a debt is not created at the same time that the debt itself is created, that marks the beginning of a debt bubble.  There is simply no physical way that the debt can be repaid.  “Growth” as it is currently used by politicians doesn’t refer to long term wealth creation – it is a means to perpetuate the failing model with the inevitable result of magnifying the catastrophe when it collapses.
                     
                    What IS disingenuous is for Sovereign nations to perpetuate this madness – hence my earlier (granted – slightly loaded) question around Govt money creation vs. borrowing.

                    Update: (As Ben has also said below in comment 7.1.2)

            • Tom 4.4.1.1.1.2
              16 August 2012 at 6:02 pm

              The only reason you aren’t ploughing a field trying to avoid starvation is due to the free market.

              • blue leopard …
                16 August 2012 at 6:09 pm

                @ Tom

                only reason?

                …and here’s me thinking it was due to the innumerable discoveries in technology….

              • Draco T Bastard …
                16 August 2012 at 7:00 pm

                Wrong, the only reason is the peoples sense of community. The free-market has, effectively, twisted that sense of community to the benefit of the bludging capitalists. If we’d left it to them in a free-market we’d be far worse off as the massive poverty of the 19th century proves.

                • ropata …
                  16 August 2012 at 9:55 pm

                  The core mechanisms of middle-class-led growth include stable demand, trust, good governance, and a set of virtuous, forward-looking capitalistic and proto-capitalistic behaviors.

                  What has largely been forgotten is that Keynes recognized the importance of the middle class in creating sufficient demand to stimulate growth. He argued that extremely unequal distributions of income depress demand and thus reduce growth.

                  Studies across U.S. states, over time, and across countries all find that societies with a strong middle class and low levels of inequality have greater levels of trust of strangers. Trust is based upon the belief that we are all in this together, part of a “moral community”. Trust reduces transaction costs because less time and resources are spent verifying and policing. And trusting people see the world as full of opportunities. With higher levels of trust, people are more likely to innovate, seek out trade and new technologies, and generally take economically sound risks.

                  A strong middle class, as thinkers from Aristotle to James Madison to modern political scientists have noted, fosters better governance by helping ensure government is well-run, increasing citizen participation, minimizing factional fighting, and promoting policies for the benefit of all of society rather than special interests. In contrast, economic inequality and a weak middle class make the political system imbalanced and depress the political participation of the non-wealthy, reducing voting, discussion, and interest in public policy.

                  The disproportionate power of the wealthy is likely to cause taxpayer dollars to be wasted on rent-seeking activities—narrow tax breaks, special copyright terms, patent monopolies, giveaways of the broadcast spectrum, and mining and logging rights on public lands for below-market fees, among others—but also when the wealthy shift broad policy away from more efficient alternatives.

                  Members of the middle class set goals and strive to achieve them. A 2010 Department of Commerce report on what it means to be middle class in America today finds, “One characteristic that stands out in the literature on the middle class is that middle-class families emphasize their expectations about the future: this means they work hard, plan ahead, and expect to save in order to attain those goals.”

                  These positive values can be undone by extreme levels of economic inequality, as, for example, David Callahan emphasizes in The Cheating Culture, which explains how the rise in white-collar crime and ethical misconduct has been fueled by rising economic inequality, broken down social norms and made cheating more rewarding.

            • Foreign Waka 4.4.1.1.1.3
              17 August 2012 at 3:01 am

              Hi CV, I am in Europe right now and have observed that genarally people are wealthier, the infrastructure is second to none and the lifestyle at least here in Vienna is fantastic. BUT – healthcare seems to get rationed, access to welfare is far stricter than in NZ, i.e. unemployment benefit is available for 7 months and becomes an emergency benefit after that. Also time restricted. There are poor people, mostly immigrants from the east who are in the mistaken belief that everything is free. However, pensioners are better off as their income is regulated by the amount of years contributed and the income averaged over time. There is a minimum akin to a minimum income with topups such as accommodation suppliment. The biggest drag at the moment is the access on this system from people who came from the east recently with the same rights as the ones contributing (EU law). Naturally, people are up in arms about this.
              Education – the recent comparision is not the best against Stanford. But everybody has a minimum level that allows them to progress (very competitiv!)
              EU is in recession (-2%), Germany and Austria have positive growth.
              Compare all this to the US, the Mekka of Comercialism and Consumerism where there are so many poor people that one is really surprised. But manufacturing seem to grow.
              All in all, NZ has so far managed to walk the fine line of a balanced system, albeit no one seem to be safe from some idiot ideas that find their way into mainstream uncontested. Selling Assets is not really an option if people wont be able to earn indexed incomes and more effort is needed to bild a better public transport system. Just my 5 cents.

              • Colonial Viper …
                17 August 2012 at 3:13 am

                Thanks for the detailed report. Enjoy your travels!

              • rosy …
                17 August 2012 at 3:50 am

                Hi Foreign Waka… Agree with a lot of what you say – except health care, it’s not the most efficient system, but being quite a high user of it myself at the moment, I know it’s not rationed – especially in comparison to NZ. It probably needs to be (I’m waiting for them to work out how much I’m costing and revoke our residency – only half joking).

                I do believe it’s the Austrian focus on employment and local business, including their laws and regulations, that has kept Austria out of recession, so far.

                With the accommodation costs – I haven’t heard of top-ups, but I do know there are rent controls and a fair bit of state housing that help the poor keep their costs down. It’s a pretty good example of how a social democracy can work.

                • Foreign Waka …
                  17 August 2012 at 6:19 am

                  Hi Rosy
                  Hope you get better soon.
                  For any exemption of payments – if the pension is not meeting the minimum living amount – an application can be filed at the county social office. Fill in an application and if all details are correct, excemptions should apply. As for the health system, it apears for the locals to be rationed as access can take a long time. Relatives of mine have told me that it is not as easy as it used to be. One family member paid for his MRI in order to speed up diagnosis as he needs an operation on his knee.
                  Austrians have learned through History, wars, dictatorships, civil war, hunger and dispair that inequality can only be streched to a certain point. After that all bets are off. It was after the second world war that the unions and the government has formed an agreement that is based on ‘social peace and coherance’. This has allowed a realative equal growth in wealth (no poor paupers falling through the cracks and fair pay for all). However, this is now being slowly eroded by casualisation of the workforce, main problem is the outsourcing to the former eastern block countries. Its becoming more and more so that, not unlike NZ, the young ones cannot afford housing and stay with their parents until the age of 30 and over.
                  So not all is well in good all Europe, albeit the waelth distribution still seems to be fairer.

                  • rosy …
                    17 August 2012 at 7:43 am

                    Thanks for the wishes, although my condition is chronic so I’ve had a bit of experience of health care systems in NZ and Austria. And yes, I understand that the locals might see deterioration in services, but compared to NZ waiting times and service barriers due to cost – even at the primary care level – Austria does still have more responsive health care. But oh dear, they could save a lot of money by improving administration!

                    And yes, it would be awful to see social peace and coherence model regress any further, it appears to have been extremely important in creating the laws and regulations that have lead to a good level of development and relative equality. I’m not sure how the immigration issues will be solved. Hopefully without much more of a rise of the FPO

                    In the area we live they’re attempting to deal with the housing for young people – the council says the apartments have become too big – people trying to get more profit. Two massive apartment blocks in our area alone are being pulled apart and renovated into smaller apartments that are affordable for young people. I hear this is happening in various parts of the city – hopefully it’s a good start. It would be nice if our government was as responsive.

                    • Foreign Waka …
                      17 August 2012 at 6:45 pm

                      Hi Rosy
                      Yes, one can hope that NZ would copy some of these processes but somehow I daubt that. If anything, NZ would copy the british with their belief that there are lesser people by nature. Not that I like to discredit all that is british, I really like the Queen. Have a great time in Europe if your health allows this, enjoy the culture. Worth your while to visit the Musems, Concerts (some are free!) and Exhibitions – Klimt year in Vienna Belvedere 🙂

          • Polish Pride 4.4.1.1.2
            16 August 2012 at 6:00 pm

            No we only need to Nationalise the fractional reserve banking because then we can build the roads and do anything else we like without borrowing.

            But your OTT response was expected because there’s no valid argument not to do what I’m saying and R wingers can’t stnd it when that happens so they try and come out with BS like you just did, like a raving looney running around waving your arms in the air – oh why don’t we just Nationalise everything oh oh oh.

          • Polish Pride 4.4.1.1.3
            16 August 2012 at 6:47 pm

            Uh most did after private banking well and truly rooted their economies -Iceland prime example!

    • Draco T Bastard 4.5
      16 August 2012 at 6:46 pm

      That’s a load of bollocks just like everything else that the RWNJs say. The spending is going to be done today, today’s generation is going to be paying for it because other things can’t be done due to that spending and thus the only reason for the government borrowing money is to give a few rich people a government guaranteed income.

    • Georgecom 4.6
      16 August 2012 at 10:41 pm

      Kong. I agree that for some productive assets spreading the costs through time makes sense.

      However the matter under discussion are RoNS, not productive assets, as some of the RoNs are akin to flushing money down the toilet.

      There is nothing clever about borrowing money, flushing it down the toilet and then asking our children to pay the debt bill.

    • Draco T Bastard 4.7
      17 August 2012 at 2:18 am

      I think the last paragraph on this page is most telling.

      “Why can’t the powers that be allocate tokens to projects that the community needs such as a new road? The people that build the new road will get the tokens and be able to spend them into the community. To stop the tokens losing value we can limit the number allocated according to the growth of the goods and services in the community. That way nobody owes anybody anything and we get to produce things the community needs.”

      “Hah, you’ll never be able to convince people to do that” Mr B laughs, “it sounds too much like communism!”

    • mike e 4.8
      31 August 2012 at 3:10 am

      primitive primate govts borrow for large infrastructure because they are economically unviable election bribes, think big etc.Toll roads would be and should be the answer for free marketeers like your self.

  5. Wayne 5
    16 August 2012 at 10:04 am

    “A whole picture theatre full of transport nerds…everyone hating the motorway programme.” It therefore was hardly representative. Anyone present from the transport industry, trucking companies, the AA?

    Maybe this is why Labour struggles to poll well. It is simply not talking to the millions of New Zealanders who use the roads and want more efficent motoways. After all most Wellingtonians favour the Transmission Gully project, and most people in Auckland and the Waikato want the completion of Auckland – Hamilton Expressway.

    Presumably Mr Twyford supports the Western ring route in Auckland, given that it got the initial go ahead in 2008.

    These are the principal projects in the Highways of National Significance.

    • ad 5.1
      16 August 2012 at 1:38 pm

      It wasn’t a Party gig. It was for TransportBlog supporters. So yeah absolutely preaching to the converted. But no less fun for it.

    • Draco T Bastard 5.2
      16 August 2012 at 7:06 pm

      …and most people in Auckland and the Waikato want the completion of Auckland – Hamilton Expressway.

      Actually, most people in Auckland want the CRL.

      In a substantial poll organised by the New Zealand Herald in mid 2011, the tunnel found strong favour among Aucklanders (63% in favour, despite the high price tag)…

      You’re talking out your arse.

      BTW, it’s impossible to make efficient motorways simply because cars are the most inefficient means of transport known. Build roads, induce more traffic resulting in more gridlock and wasted resources.

  6. captain hook 6
    16 August 2012 at 11:39 am

    this government is out of control.
    key is watching baseball while the country burns.
    he doesn’t give a shit.

  7. AmaKiwi 7
    16 August 2012 at 11:47 am

    A basic lesson in “creating money out of thin air,” i.e., the fractional reserve.

    If you borrow, you borrow FROM someone. They expect to be repaid with interest. Otherwise they won’t lend to you.

    We do not “create money out of thin air.” If the government borrows (i.e., sells government stock), the lenders expect to be repaid.

    A 10% “fractional reserve” means the banks must hold as cash 10% of the money they take in as deposits. I deposit $1,000 in my bank account. My bank lends $900 of my money to my neighbor to buy a car.

    That $900 goes into the car dealer’s account at my bank. My bank lends $810 of that $900 (90% of it) to the corner dairy. The $810 goes into their account at my bank.

    Then my bank lends 90% of the dairy’s deposit (90% of $810 = $729) to another borrower.

    The cycle goes on and on: 90% of 729 = $656. 90% of $656 = $590.45. 90% of $590.45 = $531.44. 90% of $531.44 = $478.30. 90% of $478.30 = $430.47. And so on.

    So far my $1,000 deposit has been re-loaned for $5,126. ($900 + $810 + $729 + $656 + $590.45 + $531.44 + $478.30 + $430.47 = $5,126). And we are barely halfway through my original deposit.

    Banks ONLY make money if they can lend. They get a cut on every loan (the interest they charge the borrower). If they cannot lend, banks would be little more than glorified safe deposit boxes.

    Banks are SUPPOSED to be careful and only lend to people who can repay. If someone can’t repay and the bank loses money the loss is SUPPOSED to cost that bank’s owners (shareholders). The problem comes (2008-2009) when every bank is making loans to NIJA borrowers, borrowers with “No Income, Job, Assets.” A whole bunch of NIJA borrowers defaulted. A lot of “supposedly” blue ribbon banks we going to the wall because they were greedy and go addicted to those high interest NIJA loans. Governments bailed out many of the banks. (Lehman collapsed because it had only $1 in cash on hand for every $43 in loans. But most of the other players were only marginally better: $1 in cash on hand for every $20 to $25 in loans.)

    In NZ we don’t have enough people depositing money relative to what other New Zealanders are borrowing. Half of New Zealanders have more debts than they have assets. So our banks borrow from overseas about two-thirds of the money they lend.

    If overseas banks stop lending to us or demand higher interest rates (because we are defaulting on our loans), we are screwed. Will it happen? You figure it out. Over the past 30 years only three OECD countries have NEVER had a positive balance of trade. (Sold more overseas than they bought from overseas.) One of them is Greece. The second is NEW ZEALAND.

    Our government basks in the glory of not having a lot of crown debt compared to other countries. But our personal and corporate debts are staggering. If our economy does not turn up fast, we are screwed. More people will default on loans. Our banks won’t have money to lend to solid customers for essentials we need from overseas! It’s another credit crisis.

    I don’t usually write long threads, but we need some serious public education on this subject.

    This debt problem is potentially devastating. People need to understand why.

    • vto 7.1
      16 August 2012 at 11:54 am

      I think you have that wrong annakiwi.

      With your original deposit of $1,000, that becomes the 10%. As such the bank can lend out $10,000, not $900. And that $10,000 is simply ink on paper.

      The situation is m,uch worse than you have outlined. As I understand it.

      • AmaKiwi 7.1.1
        16 August 2012 at 12:02 pm

        Damn, I knew I should have had my morning coffee before I wrote this!

      • Ben 7.1.2
        16 August 2012 at 12:31 pm

        Another bit that’s missed but worth mentioning:
        When money is created for the purposes of a loan, ONLY the principle sum is created.

        Say you buy a house and borrow $100,000 at 10% interest (to make it easy). If that interest remains stable over the 30 year term of the loan, you will pay (in total) $315,925.77 – a total interest cost of $215,925.77.

        So the bank created $100,000 – so that money “exists” – but the money which must be repaid as interest is not created.

        This is a problem. For sake of argument, let’s say that the $100,000 principle amount represented all the money in the financial system. You now have a situation in which the amount expected to be repaid is more than three times the amount of money which actually exists. The only way to create that money is for a bank, somewhere, to create it as debt (which also incurs interest, and so we end up repeating the cycle over again).

        If the banks don’t create money, there is not enough money in the system to repay all of the “promissory notes” (read: loans) in the system.

        Our entire economy is based on money created as debt. If the banks stop lending, the entire system will collapse.

        How economists can possibly think they can model an economy accurately while ignoring the function of banks dumbfounds me.

      • mike e 7.1.3
        31 August 2012 at 2:56 am

        Merril lynch where John key laundered money their lending ratio was for every dollar on deposit they lent 38 times that amount not 9 times in your example now banks in Australia have been forced to retain 40% of capital against their will.

    • Polish Pride 7.2
      16 August 2012 at 6:05 pm

      Nothing that shifting to an RBE wouldn’t fix 🙂

  8. AmaKiwi 8
    16 August 2012 at 5:47 pm

    Our problem today is that the world, and we New Zealanders, owe far more money than we can repay in our grandchildren’s lifetimes. “Free market capitalism” has looked great for the last 5 decades because we were all living on credit. Hell, I’d look prosperous, too, if I spent three times what I earn.

    Now the bubble is bursting everywhere. If the debt cannot be repaid two things happen:

    1. The lenders foreclose and take whatever collateral there is; and/or
    2. The collateral isn’t enough to cover the loan so the banks lose money or even go bust.

    In personal terms that means if you are a debtor, you lose your major possessions. If you are a lender, you lose your money in the bank. That destroys businesses and countries’ budgets which means we are out of work. The only winners are the very rich who buy up your possessions very, very cheaply.

    Against this backdrop National is selling our infrastructure before prices drop lower AND making you and me more indebted.

    “A brighter future with National. Yeah right.”

    “The only winners are the very rich who buy up your possessions very, very cheaply.” That couldn’t be my beloved PM. “Yeah right.”

    • mike 8.1
      16 August 2012 at 6:58 pm

      ““The only winners are the very rich who buy up your possessions very, very cheaply.” That couldn’t be my beloved PM. “Yeah right.””

      Nooooo not my John John.

      “Ordinariness is his helium. We push him up to prove that we, too, can rise.

      The Prime Minister is said to practise the politics of aspiration. To aspire is to breathe out, to reach up, to soar.

      John Key bounces from cloud to cloud on the warm updrafts of his nation’s confidence; on New Zealanders’ desperate conviction that politics can be, and should be, the province of ordinary men and women.”

      AmaKiwi a currency trading Merrill Lynch bigwig banker would never do such a thing.

    • Georgecom 8.2
      16 August 2012 at 10:55 pm

      Based on your comments, it’d be interesting to see how many of the ‘mum and dad’ shares end up in the ‘blind’ trusts of, oh lets see, Prime Ministers or Ministerts of Finance?

      It’d be interesting to review the spread of shares in the privatised state assets in 5 years time, see exactly how many have been snapped up by current Government MPs.

  9. Draco T Bastard 9
    16 August 2012 at 6:38 pm

    National’s doing the exact opposite: selling valuable assets to avoid low-cost debt, then taking on about the same amount of debt to build motorways that are worse than worthless, with costs that exceed their benefits.

    And that is the proof that NACT aren’t selling our assets for the benefit of NZ.

  10. captain hook 10
    16 August 2012 at 7:30 pm

    john key is a money trader.
    he only knows how to make money on the ‘turn’ and by ramping or churning.
    that is what is happening here and guess who is paying for it?

  11. AmaKiwi 11
    16 August 2012 at 7:49 pm

    National is selling our infrastructure. “Assets” sounds like an innocent spreadsheet entry. Infrastructure is the heart and lungs which the country needs to breathe.

    The Greek infrastructure up for sale by National’s idealogical compatriots includes power plants, water supplies, roads, bridges, harbors, public transport, schools, hospitals, as well as some of the country’s finest historical landmarks and best public beaches.

    “National would never do that. Yeah right.”

  12. xtasy 12
    17 August 2012 at 2:14 am

    Red an economic, high ranking report last week:

    Debt can be a problem, but it is all a matter of perspective. If a n economy’s wealth and prospect to grow is taken into account even a total GDP debt of 200 pc like in Japan is not that serious and manageable! So who owns and owes the debt may be more important than the total debt!

    NZ is safe!!!

  13. jack 13
    17 August 2012 at 9:41 am

    Who are we borrowing from? Key’s mates? If that is the case, then you have your answer.

  14. Draco T Bastard 14
    17 August 2012 at 7:38 pm

    http://transportblog.co.nz/2012/08/17/nzta-spends-8m-on-rons-promotion/

    “The Government has been concerned that a lack of ‘messaging clarity’ would undermine the credibility of the $12 billion so called “Roads of National Significance” spend up”, says Silvia Zuur, Smart Transport coordinator.

    A huge amount of public money has been invested to try and manufacture consent for the RoNS, despite the government’s own commissioned SAHA report confirming their minimal economic benefit.

    “With instructions such as: ‘Lack of messaging clarity may undermine the credibility of the programme or leave the way open for critics’ these documents make clear that the government has been preoccupied with neutralizing opposition to the RoNS, rather than evaluating their value to taxpayers and communities”, says Ms Zuur.

    Puhoi to Wellsford $1,671,552
    Waikato $1,089,595
    Western Ring Route and Waterview Connection $1,070,000
    Victoria Park Tunnel $1,089,565
    Tauranga Eastern Link $268,558
    Wellington Northern Corridor $3,080,247
    Christchurch Motorways $154,882

    TOTAL $8,424,399

    No wonder they’re having to borrow money to build the bloody things – they’re wasting millions trying to persuade us that these lemons are actually good for us.

  15. Jenny 15
    31 August 2012 at 2:17 am

    Look at the Victoria Park tunnel. A complete fiasco. That has resulted in huge jam ups for commuters trying to leave the city centre to get over the bridge.

    What was the point?

    400 metres of hugely exspenive tunnel under a skateboard park?

    Pointlessly dragging an ancient old pub up the road and back again.

    For what?

    To fill the pockets of the roading contractors.

    There is no other reason for this idiocy. It has not decreased traffic congestion in the city one iota, instead made it worse.

    And now they want to repeat this fiasco in Waterview but on a much bigger scale.

    For a fraction of the cost of the Waterview White Elephant we could greatly improve public transport across the city. Goodness knows Auckland is crying out for it.

    I suppose public transport will just have to wait until the roading lobby has finished feeding at the trough.

Recent Comments

Recent Posts

  • On Lee’s watch, Economic Development seems to be stuck on scoring points from promoting sporting e...
    Buzz from the Beehive A few days ago, Point of Order suggested the media must be musing “on why Melissa is mute”. Our article reported that people working in the beleaguered media industry have cause to yearn for a minister as busy as Melissa Lee’s ministerial colleagues and we drew ...
    Point of OrderBy Bob Edlin
    2 hours ago

  • New Zealand has never been closed for business
    1. What was The Curse of Jim Bolger?a. Winston Peters b. Soon after shaking his hand, world leaders would mysteriously lose office or shuffle off this mortal coilc. Could never shake off the Mother of All Budgetsd. Dandruff2. True or false? The Chairman of a Kiwi export business has asked the ...
    More Than A FeildingBy David Slack
    2 hours ago

  • Stop the panic – we’ve been here before
    Jack Vowles writes – New Zealand is said to be suffering from ‘serious populist discontent’. An IPSOS MORI survey has reported that we have an increasing preference for strong leaders, think that the economy is rigged toward the rich and powerful, and political elites are ignoring ‘hard-working people’.  ...
    Point of OrderBy poonzteam5443
    5 hours ago

  • Melissa Lee and the media: ending the quest
    Chris Trotter writes –  MELISSA LEE should be deprived of her ministerial warrant. Her handling – or non-handling – of the crisis engulfing the New Zealand news media has been woeful. The fate of New Zealand’s two linear television networks, a question which the Minister of Broadcasting, Communications ...
    Point of OrderBy Bob Edlin
    7 hours ago

  • The Hoon around the week to April 19
    TL;DR: The podcast above features co-hosts and , along with regular guests Robert Patman on Gaza and AUKUS II, and on climate change.The six things that mattered in Aotearoa’s political economy that we wrote and spoke about via The Kākā and elsewhere for paying subscribers in the ...
    The KakaBy Bernard Hickey
    7 hours ago

  • The ‘Humpty Dumpty’ end result of dismantling our environmental protections
    Policymakers rarely wish to make plain or visible their desire to dismantle environmental policy, least of all to the young. Photo: Lynn GrievesonTL;DR: Here’s the top five news items of note in climate news for Aotearoa-NZ this week, and a discussion above between Bernard Hickey and The Kākā’s climate correspondent ...
    The KakaBy Bernard Hickey
    7 hours ago

  • Nicola's Salad Days.
    I like to keep an eye on what’s happening in places like the UK, the US, and over the ditch with our good mates the Aussies. Let’s call them AUKUS, for want of a better collective term. More on that in a bit.It used to be, not long ago, that ...
    Nick’s KōreroBy Nick Rockel
    8 hours ago

  • Study sees climate change baking in 19% lower global income by 2050
    TL;DR: The global economy will be one fifth smaller than it would have otherwise been in 2050 as a result of climate damage, according to a new study by the Potsdam Institute for Climate Impact Research (PIK) and published in the journal Nature. (See more detail and analysis below, and ...
    The KakaBy Bernard Hickey
    8 hours ago

  • Weekly Roundup 19-April-2024
    It’s Friday again. Here’s some of the things that caught our attention this week. This Week on Greater Auckland On Tuesday Matt covered at the government looking into a long tunnel for Wellington. On Wednesday we ran a post from Oscar Simms on some lessons from Texas. AT’s ...
    Greater AucklandBy Matt L
    9 hours ago

  • Jack Vowles: Stop the panic – we’ve been here before
    New Zealand is said to be suffering from ‘serious populist discontent’. An IPSOS MORI survey has reported that we have an increasing preference for strong leaders, think that the economy is rigged toward the rich and powerful, and political elites are ignoring ‘hard-working people’.  The data is from February this ...
    Democracy ProjectBy bryce.edwards
    11 hours ago

  • Clearing up confusion (or trying to)
    Foreign Minister Winston Peters is understood to be planning a major speech within the next fortnight to clear up the confusion over whether or not New Zealand might join the AUKUS submarine project. So far, there have been conflicting signals from the Government. RNZ reported the Prime Minister yesterday in ...
    PolitikBy Richard Harman
    12 hours ago

  • How to Retrieve Deleted Call Log iPhone Without Computer
    How to Retrieve Deleted Call Log on iPhone Without a Computer: A Step–by–Step Guide Losing your iPhone call history can be frustrating, especially when you need to find a specific number or recall an important conversation. But before you panic, know that there are ways to retrieve deleted call logs on your iPhone, even without a computer. This guide will explore various methods, ranging from simple checks to utilizing iCloud backups and third–party applications. So, let‘s dive in and recover those lost calls! 1. Check Recently Deleted Folder: Apple understands that accidental deletions happen. That‘s why they introduced the “Recently Deleted“ folder for various apps, including the Phone app. This folder acts as a safety net, storing deleted call logs for up to 30 days before permanently erasing them. Here‘s how to check it: Open the Phone app on your iPhone. Tap on the “Recents“ tab at the bottom. Scroll to the top and tap on “Edit“. Select “Show Recently Deleted“. Browse the list to find the call logs you want to recover. Tap on the desired call log and choose “Recover“ to restore it to your call history. 2. Restore from iCloud Backup: If you regularly back up your iPhone to iCloud, you might be able to retrieve your deleted call log from a previous backup. However, keep in mind that this process will restore your entire phone to the state it was in at the time of the backup, potentially erasing any data added since then. Here‘s how to restore from an iCloud backup: Go to Settings > General > Reset. Choose “Erase All Content and Settings“. Follow the on–screen instructions. Your iPhone will restart and show the initial setup screen. Choose “Restore from iCloud Backup“ during the setup process. Select the relevant backup that contains your deleted call log. Wait for the restoration process to complete. 3. Explore Third–Party Apps (with Caution): ...
    Gareth’s WorldBy admin
    14 hours ago

  • How to Factory Reset iPhone without Computer: A Comprehensive Guide to Restoring your Device
    Life throws curveballs, and sometimes, those curveballs necessitate wiping your iPhone clean and starting anew. Whether you’re facing persistent software glitches, preparing to sell your device, or simply wanting a fresh start, knowing how to factory reset iPhone without a computer is a valuable skill. While using a computer with ...
    Gareth’s WorldBy admin
    21 hours ago

  • How to Call Someone on a Computer: A Guide to Voice and Video Communication in the Digital Age
    Gone are the days when communication was limited to landline phones and physical proximity. Today, computers have become powerful tools for connecting with people across the globe through voice and video calls. But with a plethora of applications and methods available, how to call someone on a computer might seem ...
    Gareth’s WorldBy admin
    22 hours ago

  • Skeptical Science New Research for Week #16 2024
    Open access notables Glacial isostatic adjustment reduces past and future Arctic subsea permafrost, Creel et al., Nature Communications: Sea-level rise submerges terrestrial permafrost in the Arctic, turning it into subsea permafrost. Subsea permafrost underlies ~ 1.8 million km2 of Arctic continental shelf, with thicknesses in places exceeding 700 m. Sea-level variations over glacial-interglacial cycles control ...
    Skeptical Science
    22 hours ago

  • Where on a Computer is the Operating System Generally Stored? Delving into the Digital Home of your ...
    The operating system (OS) is the heart and soul of a computer, orchestrating every action and interaction between hardware and software. But have you ever wondered where on a computer is the operating system generally stored? The answer lies in the intricate dance between hardware and software components, particularly within ...
    Gareth’s WorldBy admin
    22 hours ago

  • How Many Watts Does a Laptop Use? Understanding Power Consumption and Efficiency
    Laptops have become essential tools for work, entertainment, and communication, offering portability and functionality. However, with rising energy costs and growing environmental concerns, understanding a laptop’s power consumption is more important than ever. So, how many watts does a laptop use? The answer, unfortunately, isn’t straightforward. It depends on several ...
    Gareth’s WorldBy admin
    22 hours ago

  • How to Screen Record on a Dell Laptop A Guide to Capturing Your Screen with Ease
    Screen recording has become an essential tool for various purposes, such as creating tutorials, capturing gameplay footage, recording online meetings, or sharing information with others. Fortunately, Dell laptops offer several built-in and external options for screen recording, catering to different needs and preferences. This guide will explore various methods on ...
    Gareth’s WorldBy admin
    22 hours ago

  • How Much Does it Cost to Fix a Laptop Screen? Navigating Repair Options and Costs
    A cracked or damaged laptop screen can be a frustrating experience, impacting productivity and enjoyment. Fortunately, laptop screen repair is a common service offered by various repair shops and technicians. However, the cost of fixing a laptop screen can vary significantly depending on several factors. This article delves into the ...
    Gareth’s WorldBy admin
    22 hours ago

  • How Long Do Gaming Laptops Last? Demystifying Lifespan and Maximizing Longevity
    Gaming laptops represent a significant investment for passionate gamers, offering portability and powerful performance for immersive gaming experiences. However, a common concern among potential buyers is their lifespan. Unlike desktop PCs, which allow for easier component upgrades, gaming laptops have inherent limitations due to their compact and integrated design. This ...
    Gareth’s WorldBy admin
    23 hours ago

  • Climate Change: Turning the tide
    The annual inventory report of New Zealand's greenhouse gas emissions has been released, showing that gross emissions have dropped for the third year in a row, to 78.4 million tons: All-told gross emissions have decreased by over 6 million tons since the Zero Carbon Act was passed in 2019. ...
    No Right TurnBy Idiot/Savant
    24 hours ago

  • How to Unlock Your Computer A Comprehensive Guide to Regaining Access
    Experiencing a locked computer can be frustrating, especially when you need access to your files and applications urgently. The methods to unlock your computer will vary depending on the specific situation and the type of lock you encounter. This guide will explore various scenarios and provide step-by-step instructions on how ...
    Gareth’s WorldBy admin
    1 day ago

  • Faxing from Your Computer A Modern Guide to Sending Documents Digitally
    While the world has largely transitioned to digital communication, faxing still holds relevance in certain industries and situations. Fortunately, gone are the days of bulky fax machines and dedicated phone lines. Today, you can easily send and receive faxes directly from your computer, offering a convenient and efficient way to ...
    Gareth’s WorldBy admin
    1 day ago

  • Protecting Your Home Computer A Guide to Cyber Awareness
    In our increasingly digital world, home computers have become essential tools for work, communication, entertainment, and more. However, this increased reliance on technology also exposes us to various cyber threats. Understanding these threats and taking proactive steps to protect your home computer is crucial for safeguarding your personal information, finances, ...
    Gareth’s WorldBy admin
    1 day ago

  • Server-Based Computing Powering the Modern Digital Landscape
    In the ever-evolving world of technology, server-based computing has emerged as a cornerstone of modern digital infrastructure. This article delves into the concept of server-based computing, exploring its various forms, benefits, challenges, and its impact on the way we work and interact with technology. Understanding Server-Based Computing: At its core, ...
    Gareth’s WorldBy admin
    1 day ago

  • Vroom vroom go the big red trucks
    The absolute brass neck of this guy.We want more medical doctors, not more spin doctors, Luxon was saying a couple of weeks ago, and now we’re told the guy has seven salaried adults on TikTok duty. Sorry, doing social media. The absolute brass neck of it. The irony that the ...
    More Than A FeildingBy David Slack
    1 day ago

  • Jones finds $410,000 to help the government muscle in on a spat project
    Buzz from the Beehive Oceans and Fisheries Minister Shane Jones relishes spatting and eagerly takes issue with environmentalists who criticise his enthusiasm for resource development. He relishes helping the fishing industry too. And so today, while the media are making much of the latest culling in the public service to ...
    Point of OrderBy Bob Edlin
    1 day ago

  • Again, hate crimes are not necessarily terrorism.
    Having written, taught and worked for the US government on issues involving unconventional warfare and terrorism for 30-odd years, two things irritate me the most when the subject is discussed in public. The first is the Johnny-come-lately academics-turned-media commentators who … Continue reading → ...
    KiwipoliticoBy Pablo
    1 day ago

  • Despair – construction consenting edition
    Eric Crampton writes – Kainga Ora is the government’s house building agency. It’s been building a lot of social housing. Kainga Ora has its own (but independent) consenting authority, Consentium. It’s a neat idea. Rather than have to deal with building consents across each different territorial authority, Kainga Ora ...
    Point of OrderBy poonzteam5443
    1 day ago

  • Coalition promises – will the Govt keep the commitment to keep Kiwis equal before the law?
    Muriel Newman writes – The Coalition Government says it is moving with speed to deliver campaign promises and reverse the damage done by Labour. One of their key commitments is to “defend the principle that New Zealanders are equal before the law.” To achieve this, they have pledged they “will not advance ...
    Point of OrderBy poonzteam5443
    1 day ago

  • An impermanent public service is a guarantee of very little else but failure
    Chris Trotter writes –  The absence of anything resembling a fightback from the public servants currently losing their jobs is interesting. State-sector workers’ collective fatalism in the face of Coalition cutbacks indicates a surprisingly broad acceptance of impermanence in the workplace. Fifty years ago, lay-offs in the thousands ...
    Point of OrderBy poonzteam5443
    1 day ago

  • What happens after the war – Mariupol
    Mariupol, on the Azov Sea coast, was one of the first cities to suffer almost complete destruction after the start of the Ukraine War started in late February 2022. We remember the scenes of absolute destruction of the houses and city structures. The deaths of innocent civilians – many of ...
    Open ParachuteBy Ken
    1 day ago

  • Babies and benefits – no good news
    Lindsay Mitchell writes – Ten years ago, I wrote the following in a Listener column: Every year around one in five new-born babies will be reliant on their caregivers benefit by Christmas. This pattern has persisted from at least 1993. For Maori the number jumps to over one in three.  ...
    Point of OrderBy poonzteam5443
    1 day ago

  • Should the RBNZ be looking through climate inflation?
    Climate change is expected to generate more and more extreme events, delivering a sort of structural shock to inflation that central banks will have to react to as if they were short-term cyclical issues. Photo: Lynn Grieveson / The KākāMy pick of the six newsey things to know from Aotearoa’s ...
    The KakaBy Bernard Hickey
    1 day ago

  • Bernard's pick 'n' mix of the news links
    The top six news links I’ve seen elsewhere in the last 24 hours, as of 9:16 am on Thursday, April 18 are:Housing: Tauranga residents living in boats, vans RNZ Checkpoint Louise TernouthHousing: Waikato councillor says wastewater plant issues could hold up Sleepyhead building a massive company town Waikato Times Stephen ...
    The KakaBy Bernard Hickey
    1 day ago

  • Gordon Campbell on the public sector carnage, and misogyny as terrorism
    It’s a simple deal. We pay taxes in order to finance the social services we want and need. The carnage now occurring across the public sector though, is breaking that contract. Over 3,000 jobs have been lost so far. Many are in crucial areas like Education where the impact of ...
    Gordon CampbellBy lyndon
    1 day ago

  • Meeting the Master Baiters
    Hi,A friend had their 40th over the weekend and decided to theme it after Curb Your Enthusiasm fashion icon Susie Greene. Captured in my tiny kitchen before I left the house, I ending up evoking a mix of old lesbian and Hillary Clinton — both unintentional.Me vs Hillary ClintonIf you’re ...
    David FarrierBy David Farrier
    1 day ago

  • How extreme was the Earth's temperature in 2023
    This is a re-post from Andrew Dessler at the Climate Brink blog In 2023, the Earth reached temperature levels unprecedented in modern times. Given that, it’s reasonable to ask: What’s going on? There’s been lots of discussions by scientists about whether this is just the normal progression of global warming or if something ...
    Skeptical Science
    2 days ago

  • Backbone, revisited
    The schools are on holiday and the sun is shining in the seaside village and all day long I have been seeing bunches of bikes; Mums, Dads, teens and toddlers chattering, laughing, happy, having a bloody great time together. Cheers, AT, for the bits of lane you’ve added lately around the ...
    More Than A FeildingBy David Slack
    2 days ago

  • Ministers are not above the law
    Today in our National-led authoritarian nightmare: Shane Jones thinks Ministers should be above the law: New Zealand First MP Shane Jones is accusing the Waitangi Tribunal of over-stepping its mandate by subpoenaing a minister for its urgent hearing on the Oranga Tamariki claim. The tribunal is looking into the ...
    No Right TurnBy Idiot/Savant
    2 days ago

  • What’s the outfit you can hear going down the gurgler? Probably it’s David Parker’s Oceans Sec...
    Buzz from the Beehive Point  of Order first heard of the Oceans Secretariat in June 2021, when David Parker (remember him?) announced a multi-agency approach to protecting New Zealand’s marine ecosystems and fisheries. Parker (holding the Environment, and Oceans and Fisheries portfolios) broke the news at the annual Forest & ...
    Point of OrderBy Bob Edlin
    2 days ago

  • Will politicians let democracy die in the darkness?
    Bryce Edwards writes  – Politicians across the political spectrum are implicated in the New Zealand media’s failing health. Either through neglect or incompetent interventions, successive governments have failed to regulate, foster, and allow a healthy Fourth Estate that can adequately hold politicians and the powerful to account. ...
    Point of OrderBy poonzteam5443
    2 days ago

  • Matt Doocey doubles down on trans “healthcare”
    Citizen Science writes –  Last week saw two significant developments in the debate over the treatment of trans-identifying children and young people – the release in Britain of the final report of Dr Hilary Cass’s review into gender healthcare, and here in New Zealand, the news that the ...
    Point of OrderBy poonzteam5443
    2 days ago

  • A TikTok Prime Minister.
    One night while sleeping in my bed I had a beautiful dreamThat all the people of the world got together on the same wavelengthAnd began helping one anotherNow in this dream, universal love was the theme of the dayPeace and understanding and it happened this wayAfter such an eventful day ...
    Nick’s KōreroBy Nick Rockel
    2 days ago

  • Texas Lessons
    This is a guest post by Oscar Simms who is a housing activist, volunteer for the Coalition for More Homes, and was the Labour Party candidate for Auckland Central at the last election. ...
    Greater AucklandBy Guest Post
    2 days ago

  • Bernard's pick 'n' mix of the news links at 6:06 am
    The top six news links I’ve seen elsewhere in the last 24 hours as of 6:06 am on Wednesday, April 17 are:Must read: Secrecy shrouds which projects might be fast-tracked RNZ Farah HancockScoop: Revealed: Luxon has seven staffers working on social media content - partly paid for by taxpayer Newshub ...
    The KakaBy Bernard Hickey
    2 days ago

  • Fighting poverty on the holiday highway
    Turning what Labour called the “holiday highway” into a four-lane expressway from Auckland to Whangarei could bring at least an economic benefit of nearly two billion a year for Northland each year. And it could help bring an end to poverty in one of New Zealand’s most deprived regions. The ...
    PolitikBy Richard Harman
    3 days ago

  • Bernard's six-stack of substacks at 6:26 pm
    Tonight’s six-stack includes: launching his substack with a bunch of his previous documentaries, including this 1992 interview with Dame Whina Cooper. and here crew give climate activists plenty to do, including this call to submit against the Fast Track Approvals bill. writes brilliantly here on his substack ...
    The KakaBy Bernard Hickey
    3 days ago

  • At a glance – Is the science settled?
    On February 14, 2023 we announced our Rebuttal Update Project. This included an ask for feedback about the added "At a glance" section in the updated basic rebuttal versions. This weekly blog post series highlights this new section of one of the updated basic rebuttal versions and serves as a ...
    Skeptical Science
    3 days ago

  • Apposite Quotations.
    How Long Is Long Enough? Gaza under Israeli bombardment, July 2014. This posting is exclusive to Bowalley Road. ...
    Bowalley Road
    3 days ago

  • What’s a life worth now?
    You're in the mall when you hear it: some kind of popping sound in the distance, kids with fireworks, maybe. But then a moment of eerie stillness is followed by more of the fireworks sound and there’s also screaming and shrieking and now here come people running for their lives.Does ...
    More Than A FeildingBy David Slack
    3 days ago

  • Howling at the Moon
    Karl du Fresne writes –  There’s a crisis in the news media and the media are blaming it on everyone except themselves. Culpability is being deflected elsewhere – mainly to the hapless Minister of Communications, Melissa Lee, and the big social media platforms that are accused of hoovering ...
    Point of OrderBy poonzteam5443
    3 days ago

  • Newshub is Dead.
    I don’t normally send out two newsletters in a day but I figured I’d say something about… the news. If two newsletters is a bit much then maybe just skip one, I don’t want to overload people. Alternatively if you’d be interested in sometimes receiving multiple, smaller updates from me, ...
    Nick’s KōreroBy Nick Rockel
    3 days ago

  • Seymour is chuffed about cutting early-learning red tape – but we hear, too, that Jones has loose...
    Buzz from the Beehive David Seymour and Winston Peters today signalled that at least two ministers of the Crown might be in Wellington today. Seymour (as Associate Minister of Education) announced the removal of more red tape, this time to make it easier for new early learning services to be ...
    Point of OrderBy Bob Edlin
    3 days ago

  • Bryce Edwards: Will politicians let democracy die in the darkness?
    Politicians across the political spectrum are implicated in the New Zealand media’s failing health. Either through neglect or incompetent interventions, successive governments have failed to regulate, foster, and allow a healthy Fourth Estate that can adequately hold politicians and the powerful to account. Our political system is suffering from the ...
    Democracy ProjectBy bryce.edwards
    3 days ago

  • Was Hawkesby entirely wrong?
    David Farrar  writes –  The Broadcasting Standards Authority ruled: Comments by radio host Kate Hawkesby suggesting Māori and Pacific patients were being prioritised for surgery due to their ethnicity were misleading and discriminatory, the Broadcasting Standards Authority has found. It is a fact such patients are prioritised. ...
    Point of OrderBy poonzteam5443
    3 days ago

  • PRC shadow looms as the Solomons head for election
    PRC and its proxies in Solomons have been preparing for these elections for a long time. A lot of money, effort and intelligence have gone into ensuring an outcome that won’t compromise Beijing’s plans. Cleo Paskall writes – On April 17th the Solomon Islands, a country of ...
    Point of OrderBy poonzteam5443
    3 days ago

  • Climate Change: Criminal ecocide
    We are in the middle of a climate crisis. Last year was (again) the hottest year on record. NOAA has just announced another global coral bleaching event. Floods are threatening UK food security. So naturally, Shane Jones wants to make it easier to mine coal: Resources Minister Shane Jones ...
    No Right TurnBy Idiot/Savant
    3 days ago

  • Is saving one minute of a politician's time worth nearly $1 billion?
    Is speeding up the trip to and from Wellington airport by 12 minutes worth spending up more than $10 billion? Photo: Lynn Grieveson / The KākāTL;DR: The six news items that stood out to me in the last day to 8:26 am today are:The Lead: Transport Minister Simeon Brown announced ...
    The KakaBy Bernard Hickey
    3 days ago

  • Long Tunnel or Long Con?
    Yesterday it was revealed that Transport Minister had asked Waka Kotahi to look at the options for a long tunnel through Wellington. State Highway 1 (SH1) through Wellington City is heavily congested at peak times and while planning continues on the duplicate Mt Victoria Tunnel and Basin Reserve project, the ...
    Greater AucklandBy Matt L
    3 days ago

  • Smoke And Mirrors.
    You're a fraud, and you know itBut it's too good to throw it all awayAnyone would do the sameYou've got 'em goingAnd you're careful not to show itSometimes you even fool yourself a bitIt's like magicBut it's always been a smoke and mirrors gameAnyone would do the sameForty six billion ...
    Nick’s KōreroBy Nick Rockel
    3 days ago

  • What is Mexico doing about climate change?
    This is a re-post from Yale Climate Connections The June general election in Mexico could mark a turning point in ensuring that the country’s climate policies better reflect the desire of its citizens to address the climate crisis, with both leading presidential candidates expressing support for renewable energy. Mexico is the ...
    Skeptical Science
    4 days ago

  • State of humanity, 2024
    2024, it feels, keeps presenting us with ever more challenges, ever more dismay.Do you give up yet? It seems to ask.No? How about this? Or this?How about this?When I say 2024 I really mean the state of humanity in 2024.Saturday night, we watched Civil War because that is one terrifying cliff we've ...
    More Than A FeildingBy David Slack
    4 days ago

  • Govt’s Wellington tunnel vision aims to ease the way to the airport (but zealous promoters of cycl...
    Buzz from the Beehive A pet project and governmental tunnel vision jump out from the latest batch of ministerial announcements. The government is keen to assure us of its concern for the wellbeing of our pets. It will be introducing pet bonds in a change to the Residential Tenancies Act ...
    Point of OrderBy Bob Edlin
    4 days ago

  • The case for cultural connectedness
    A recent report generated from a Growing Up in New Zealand (GUiNZ) survey of 1,224 rangatahi Māori aged 11-12 found: Cultural connectedness was associated with fewer depression symptoms, anxiety symptoms and better quality of life. That sounds cut and dry. But further into the report the following appears: Cultural connectedness is ...
    Point of OrderBy poonzteam5443
    4 days ago

  • Useful context on public sector job cuts
    David Farrar writes –    The Herald reports: From the gory details of job-cuts news, you’d think the public service was being eviscerated.   While the media’s view of the cuts is incomplete, it’s also true that departments have been leaking the particulars faster than a Wellington ...
    Point of OrderBy poonzteam5443
    4 days ago

  • Gordon Campbell On When Racism Comes Disguised As Anti-racism
    Remember the good old days, back when New Zealand had a PM who could think and speak calmly and intelligently in whole sentences without blustering? Even while Iran’s drones and missiles were still being launched, Helen Clark was live on TVNZ expertly summing up the latest crisis in the Middle ...
    Gordon CampbellBy lyndon
    4 days ago

  • Govt ignored economic analysis of smokefree reversal
    Costello did not pass on analysis of the benefits of the smokefree reforms to Cabinet, emphasising instead the extra tax revenues of repealing them. Photo: Hagen Hopkins, Getty Images TL;DR: The six news items that stood out to me at 7:26 am today are:The Lead: Casey Costello never passed on ...
    The KakaBy Bernard Hickey
    4 days ago

  • True Blue.
    True loveYou're the one I'm dreaming ofYour heart fits me like a gloveAnd I'm gonna be true blueBaby, I love youI’ve written about the job cuts in our news media last week. The impact on individuals, and the loss to Aotearoa of voices covering our news from different angles.That by ...
    Nick’s KōreroBy Nick Rockel
    4 days ago

  • Who is running New Zealand’s foreign policy?
    While commentators, including former Prime Minister Helen Clark, are noting a subtle shift in New Zealand’s foreign policy, which now places more emphasis on the United States, many have missed a key element of the shift. What National said before the election is not what the government is doing now. ...
    PolitikBy Richard Harman
    5 days ago

  • 2024 SkS Weekly Climate Change & Global Warming News Roundup #15
    A listing of 31 news and opinion articles we found interesting and shared on social media during the past week: Sun, April 7, 2024 thru Sat, April 13, 2024. Story of the week Our story of the week is about adults in the room setting terms and conditions of ...
    Skeptical Science
    5 days ago

  • Feline Friends and Fragile Fauna The Complexities of Cats in New Zealand’s Conservation Efforts

    Cats, with their independent spirit and beguiling purrs, have captured the hearts of humans for millennia. In New Zealand, felines are no exception, boasting the highest national cat ownership rate globally [definition cat nz cat foundation]. An estimated 1.134 million pet cats grace Kiwi households, compared to 683,000 dogs ...

    Gareth’s WorldBy admin
    5 days ago

  • Or is that just they want us to think?
    Nice guy, that Peter Williams. Amiable, a calm air of no-nonsense capability, a winning smile. Everything you look for in a TV presenter and newsreader.I used to see him sometimes when I went to TVNZ to be a talking head or a panellist and we would yarn. Nice guy, that ...
    More Than A FeildingBy David Slack
    5 days ago

  • Fact Brief – Did global warming stop in 1998?
    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. Did global warming stop in ...
    Skeptical Science
    6 days ago

  • Arguing over a moot point.
    I have been following recent debates in the corporate and social media about whether it is a good idea for NZ to join what is known as “AUKUS Pillar Two.” AUKUS is the Australian-UK-US nuclear submarine building agreement in which … Continue reading → ...
    KiwipoliticoBy Pablo
    6 days ago

  • $41m to support clean energy in South East Asia
    New Zealand is demonstrating its commitment to reducing global greenhouse emissions, and supporting clean energy transition in South East Asia, through a contribution of NZ$41 million (US$25 million) in climate finance to the Asian Development Bank (ADB)-led Energy Transition Mechanism (ETM). Prime Minister Christopher Luxon and Climate Change Minister Simon Watts announced ...
    BeehiveBy beehive.govt.nz
    1 hour ago

  • Minister releases Fast-track stakeholder list
    The Government is today releasing a list of organisations who received letters about the Fast-track applications process, says RMA Reform Minister Chris Bishop. “Recently Ministers and agencies have received a series of OIA requests for a list of organisations to whom I wrote with information on applying to have a ...
    BeehiveBy beehive.govt.nz
    3 hours ago

  • Judicial appointments announced
    Attorney-General Judith Collins today announced the appointment of Wellington Barrister David Jonathan Boldt as a Judge of the High Court, and the Honourable Justice Matthew Palmer as a Judge of the Court of Appeal. Justice Boldt graduated with an LLB from Victoria University of Wellington in 1990, and also holds ...
    BeehiveBy beehive.govt.nz
    4 hours ago

  • Education Minister heads to major teaching summit in Singapore
    Education Minister Erica Stanford will lead the New Zealand delegation at the 2024 International Summit on the Teaching Profession (ISTP) held in Singapore. The delegation includes representatives from the Post Primary Teachers’ Association (PPTA) Te Wehengarua and the New Zealand Educational Institute (NZEI) Te Riu Roa.  The summit is co-hosted ...
    BeehiveBy beehive.govt.nz
    5 hours ago

  • Value of stopbank project proven during cyclone
    A stopbank upgrade project in Tairawhiti partly funded by the Government has increased flood resilience for around 7000ha of residential and horticultural land so far, Regional Development Minister Shane Jones says. Mr Jones today attended a dawn service in Gisborne to mark the end of the first stage of the ...
    BeehiveBy beehive.govt.nz
    5 hours ago

  • Anzac commemorations, Türkiye relationship focus of visit
    Foreign Affairs Minister Winston Peters will represent the Government at Anzac Day commemorations on the Gallipoli Peninsula next week and engage with senior representatives of the Turkish government in Istanbul.    “The Gallipoli campaign is a defining event in our history. It will be a privilege to share the occasion ...
    BeehiveBy beehive.govt.nz
    5 hours ago

  • Minister to Europe for OECD meeting, Anzac Day
    Science, Innovation and Technology and Defence Minister Judith Collins will next week attend the OECD Science and Technology Ministerial conference in Paris and Anzac Day commemorations in Belgium. “Science, innovation and technology have a major role to play in rebuilding our economy and achieving better health, environmental and social outcomes ...
    BeehiveBy beehive.govt.nz
    8 hours ago

  • Comprehensive Partnership the goal for NZ and the Philippines
    Prime Minister Christopher Luxon held a bilateral meeting today with the President of the Philippines, Ferdinand Marcos Jr.  The Prime Minister was accompanied by MP Paulo Garcia, the first Filipino to be elected to a legislature outside the Philippines. During today’s meeting, Prime Minister Luxon and President Marcos Jr discussed opportunities to ...
    BeehiveBy beehive.govt.nz
    19 hours ago

  • Government commits $20m to Westport flood protection
    The Government has announced that $20 million in funding will be made available to Westport to fund much needed flood protection around the town. This measure will significantly improve the resilience of the community, says Local Government Minister Simeon Brown. “The Westport community has already been allocated almost $3 million ...
    BeehiveBy beehive.govt.nz
    1 day ago

  • Taupō takes pole position
    The Government is proud to support the first ever Repco Supercars Championship event in Taupō as up to 70,000 motorsport fans attend the Taupō International Motorsport Park this weekend, says Economic Development Minister Melissa Lee. “Anticipation for the ITM Taupō Super400 is huge, with tickets and accommodation selling out weeks ...
    BeehiveBy beehive.govt.nz
    1 day ago

  • Cost of living support for low-income homeowners
    Local Government Minister Simeon Brown has announced an increase to the Rates Rebate Scheme, putting money back into the pockets of low-income homeowners.  “The coalition Government is committed to bringing down the cost of living for New Zealanders. That includes targeted support for those Kiwis who are doing things tough, such ...
    BeehiveBy beehive.govt.nz
    1 day ago

  • Government backing mussel spat project
    The Coalition Government is investing in a project to boost survival rates of New Zealand mussels and grow the industry, Oceans and Fisheries Minister Shane Jones has announced. “This project seeks to increase the resilience of our mussels and significantly boost the sector’s productivity,” Mr Jones says. “The project - ...
    BeehiveBy beehive.govt.nz
    1 day ago

  • Government focused on getting people into work
    Benefit figures released today underscore the importance of the Government’s plan to rebuild the economy and have 50,000 fewer people on Jobseeker Support, Social Development and Employment Minister Louise Upston says. “Benefit numbers are still significantly higher than when National was last in government, when there was about 70,000 fewer ...
    BeehiveBy beehive.govt.nz
    1 day ago

  • Clean energy key driver to reducing emissions
    The Government’s commitment to doubling New Zealand’s renewable energy capacity is backed by new data showing that clean energy has helped the country reach its lowest annual gross emissions since 1999, Climate Change Minister Simon Watts says. New Zealand’s latest Greenhouse Gas Inventory (1990-2022) published today, shows gross emissions fell ...
    BeehiveBy beehive.govt.nz
    1 day ago

  • Earthquake-prone buildings review brought forward
    The Government is bringing the earthquake-prone building review forward, with work to start immediately, and extending the deadline for remediations by four years, Building and Construction Minister Chris Penk says. “Our Government is focused on rebuilding the economy. A key part of our plan is to cut red tape that ...
    BeehiveBy beehive.govt.nz
    2 days ago

  • Thailand and NZ to agree to Strategic Partnership
    Prime Minister Christopher Luxon and his Thai counterpart, Prime Minister Srettha Thavisin, have today agreed that New Zealand and the Kingdom of Thailand will upgrade the bilateral relationship to a Strategic Partnership by 2026. “New Zealand and Thailand have a lot to offer each other. We have a strong mutual desire to build ...
    BeehiveBy beehive.govt.nz
    2 days ago

  • Government consults on extending coastal permits for ports
    RMA Reform Minister Chris Bishop and Transport Minister Simeon Brown have today announced the Coalition Government’s intention to extend port coastal permits for a further 20 years, providing port operators with certainty to continue their operations. “The introduction of the Resource Management Act in 1991 required ports to obtain coastal ...
    BeehiveBy beehive.govt.nz
    2 days ago

  • Inflation coming down, but more work to do
    Today’s announcement that inflation is down to 4 per cent is encouraging news for Kiwis, but there is more work to be done - underlining the importance of the Government’s plan to get the economy back on track, acting Finance Minister Chris Bishop says. “Inflation is now at 4 per ...
    BeehiveBy beehive.govt.nz
    2 days ago

  • School attendance restored as a priority in health advice
    Refreshed health guidance released today will help parents and schools make informed decisions about whether their child needs to be in school, addressing one of the key issues affecting school attendance, says Associate Education Minister David Seymour. In recent years, consistently across all school terms, short-term illness or medical reasons ...
    BeehiveBy beehive.govt.nz
    2 days ago

  • Unnecessary bureaucracy cut in oceans sector
    Oceans and Fisheries Minister Shane Jones is streamlining high-level oceans management while maintaining a focus on supporting the sector’s role in the export-led recovery of the economy. “I am working to realise the untapped potential of our fishing and aquaculture sector. To achieve that we need to be smarter with ...
    BeehiveBy beehive.govt.nz
    2 days ago

  • Patterson promoting NZ’s wool sector at International Congress
    Associate Agriculture Minister Mark Patterson is speaking at the International Wool Textile Organisation Congress in Adelaide, promoting New Zealand wool, and outlining the coalition Government’s support for the revitalisation the sector.    "New Zealand’s wool exports reached $400 million in the year to 30 June 2023, and the coalition Government ...
    BeehiveBy beehive.govt.nz
    3 days ago

  • Removing red tape to help early learners thrive
    The Government is making legislative changes to make it easier for new early learning services to be established, and for existing services to operate, Associate Education Minister David Seymour says. The changes involve repealing the network approval provisions that apply when someone wants to establish a new early learning service, ...
    BeehiveBy beehive.govt.nz
    3 days ago

  • RMA changes to cut coal mining consent red tape
    Changes to the Resource Management Act will align consenting for coal mining to other forms of mining to reduce barriers that are holding back economic development, Resources Minister Shane Jones says. “The inconsistent treatment of coal mining compared with other extractive activities is burdensome red tape that fails to acknowledge ...
    BeehiveBy beehive.govt.nz
    3 days ago

  • McClay reaffirms strong NZ-China trade relationship
    Trade, Agriculture and Forestry Minister Todd McClay has concluded productive discussions with ministerial counterparts in Beijing today, in support of the New Zealand-China trade and economic relationship. “My meeting with Commerce Minister Wang Wentao reaffirmed the complementary nature of the bilateral trade relationship, with our Free Trade Agreement at its ...
    BeehiveBy beehive.govt.nz
    4 days ago

  • Prime Minister Luxon acknowledges legacy of Singapore Prime Minister Lee
    Prime Minister Christopher Luxon today paid tribute to Singapore’s outgoing Prime Minister Lee Hsien Loong.   Meeting in Singapore today immediately before Prime Minister Lee announced he was stepping down, Prime Minister Luxon warmly acknowledged his counterpart’s almost twenty years as leader, and the enduring legacy he has left for Singapore and South East ...
    BeehiveBy beehive.govt.nz
    4 days ago

  • PMs Luxon and Lee deepen Singapore-NZ ties
    Prime Minister Christopher Luxon held a bilateral meeting today with Singapore Prime Minister Lee Hsien Loong. While in Singapore as part of his visit to South East Asia this week, Prime Minister Luxon also met with Singapore President Tharman Shanmugaratnam and will meet with Deputy Prime Minister Lawrence Wong.  During today’s meeting, Prime Minister Luxon ...
    BeehiveBy beehive.govt.nz
    4 days ago

  • Antarctica New Zealand Board appointments
    Foreign Minister Winston Peters has made further appointments to the Board of Antarctica New Zealand as part of a continued effort to ensure the Scott Base Redevelopment project is delivered in a cost-effective and efficient manner.  The Minister has appointed Neville Harris as a new member of the Board. Mr ...
    BeehiveBy beehive.govt.nz
    4 days ago

  • Finance Minister travels to Washington DC
    Finance Minister Nicola Willis will travel to the United States on Tuesday to attend a meeting of the Five Finance Ministers group, with counterparts from Australia, the United States, Canada, and the United Kingdom.  “I am looking forward to meeting with our Five Finance partners on how we can work ...
    BeehiveBy beehive.govt.nz
    4 days ago

  • Pet bonds a win/win for renters and landlords
    The coalition Government has today announced purrfect and pawsitive changes to the Residential Tenancies Act to give tenants with pets greater choice when looking for a rental property, says Housing Minister Chris Bishop. “Pets are important members of many Kiwi families. It’s estimated that around 64 per cent of New ...
    BeehiveBy beehive.govt.nz
    4 days ago

  • Long Tunnel for SH1 Wellington being considered
    State Highway 1 (SH1) through Wellington City is heavily congested at peak times and while planning continues on the duplicate Mt Victoria Tunnel and Basin Reserve project, the Government has also asked NZ Transport Agency (NZTA) to consider and provide advice on a Long Tunnel option, Transport Minister Simeon Brown ...
    BeehiveBy beehive.govt.nz
    4 days ago

  • New Zealand condemns Iranian strikes
    Prime Minister Christopher Luxon and Foreign Minister Winston Peters have condemned Iran’s shocking and illegal strikes against Israel.    “These attacks are a major challenge to peace and stability in a region already under enormous pressure," Mr Luxon says.    "We are deeply concerned that miscalculation on any side could ...
    BeehiveBy beehive.govt.nz
    5 days ago

  • Huge interest in Government’s infrastructure plans
    Hundreds of people in little over a week have turned out in Northland to hear Regional Development Minister Shane Jones speak about plans for boosting the regional economy through infrastructure. About 200 people from the infrastructure and associated sectors attended an event headlined by Mr Jones in Whangarei today. Last ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Health Minister thanks outgoing Health New Zealand Chair
    Health Minister Dr Shane Reti has today thanked outgoing Health New Zealand – Te Whatu Ora Chair Dame Karen Poutasi for her service on the Board.   “Dame Karen tendered her resignation as Chair and as a member of the Board today,” says Dr Reti.  “I have asked her to ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Roads of National Significance planning underway
    The NZ Transport Agency (NZTA) has signalled their proposed delivery approach for the Government’s 15 Roads of National Significance (RoNS), with the release of the State Highway Investment Proposal (SHIP) today, Transport Minister Simeon Brown says.  “Boosting economic growth and productivity is a key part of the Government’s plan to ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Navigating an unstable global environment
    New Zealand is renewing its connections with a world facing urgent challenges by pursuing an active, energetic foreign policy, Foreign Minister Winston Peters says.   “Our country faces the most unstable global environment in decades,” Mr Peters says at the conclusion of two weeks of engagements in Egypt, Europe and the United States.    “We cannot afford to sit back in splendid ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • NZ welcomes Australian Governor-General
    Prime Minister Christopher Luxon has announced the Australian Governor-General, His Excellency General The Honourable David Hurley and his wife Her Excellency Mrs Linda Hurley, will make a State visit to New Zealand from Tuesday 16 April to Thursday 18 April. The visit reciprocates the State visit of former Governor-General Dame Patsy Reddy ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Pseudoephedrine back on shelves for Winter
    Associate Health Minister David Seymour has announced that Medsafe has approved 11 cold and flu medicines containing pseudoephedrine. Pharmaceutical suppliers have indicated they may be able to supply the first products in June. “This is much earlier than the original expectation of medicines being available by 2025. The Government recognised ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • NZ and the US: an ever closer partnership
    New Zealand and the United States have recommitted to their strategic partnership in Washington DC today, pledging to work ever more closely together in support of shared values and interests, Foreign Minister Winston Peters says.    “The strategic environment that New Zealand and the United States face is considerably more ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Joint US and NZ declaration
    April 11, 2024 Joint Declaration by United States Secretary of State the Honorable Antony J. Blinken and New Zealand Minister of Foreign Affairs the Right Honourable Winston Peters We met today in Washington, D.C. to recommit to the historic partnership between our two countries and the principles that underpin it—rule ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • NZ and US to undertake further practical Pacific cooperation
    Foreign Minister Winston Peters has announced further New Zealand cooperation with the United States in the Pacific Islands region through $16.4 million in funding for initiatives in digital connectivity and oceans and fisheries research.   “New Zealand can achieve more in the Pacific if we work together more urgently and ...
    BeehiveBy beehive.govt.nz
    1 week ago

Page generated in The Standard by Wordpress at 2024-04-19T05:26:13+00:00