Spin-busting: ‘A growth problem, not a debt problem’

Written By: - Date published: 10:42 am, August 4th, 2008 - 28 comments
Categories: economy, national, spin - Tags:

To justify borrowing for tax cuts, National’s new line is that New Zealand has ‘a growth problem, not a debt problem’. Untrue.


(source)
New Zealand’s growth has been faster in recent years than trend, faster than it was under National, and faster than growth in our major trade partners.

We are in a shallow recession right now but that’s because a) we’ve grown so quickly in the last 8 years that there is little spare capacity for growth in the economy and b) the world is experiencing the beginning of peak oil, that has put petrol prices to record prices, hamstringing the global economy, including New Zealand.

Moreover, National’s borrowing plan would not break us out of the present recession. It’s not roads we are short on; it’s invesmtnet in workers’ skills, a low-carbon transport infrastructure, and more private sector investment in private businesses that are needed. With our economy still basically at full capacity, all National’s borrowing will do is cause inflation.

We don’t have a growth problem: New Zealand has grown as fast as it could for the last decade leading to record-low unemployment and record high wage increases. National’s borrowing would not increase growth (more investment by private business in their capital would help, but business owners continue to prioritise profits over investment). So, we’re left with the real reason for National’s debt plan – to pay for tax cuts.

28 comments on “Spin-busting: ‘A growth problem, not a debt problem’ ”

  1. outofbed 1

    Alternatively of course, National could reduce those extra borrowing costs by further sales of state assets – such as Kiwibank or TVNZ in its second term – as the bills start mounting. In other words, the future sale of Kiwibank will not have been due to any shortcomings in performance on its part ultimately, it will have been required to pay for National’s election bribes during 2008. Cut taxes now, and strip mine state assets later yes, it will be interesting to watch Key trying to defend the indefensible over the course of this election campaign.

    this nails it
    http://election08.scoop.co.nz/gordon-campbell-on-national%E2%80%99s-economic-vision/

  2. Draco TB 2

    Yep, Nationals plan seems to be:
    1.) Cut taxes
    2.) Borrow to fund the tax cuts
    3.) Sell off assets to keep the incoming cash flow so they can cut taxes even more
    4.) Pauperize and bankrupt NZ

  3. vto 3

    If labour is responsible for the growth then labour is responsible for this current ‘shallow recession’, as you call it (but try being realistic and cll it what it is, namely the start of a massive meltdown. good one labour).

  4. vto. you’re smarter than this, you can do better.

    Just because government can influence the economy does not mean that every thing that happens to the economy is due to the Government (note – I didn’t say in the article that our above trend gorwth over the last decade was due in whole or in part to the Laobur-led Govts). You have to be able to point to cause and effect in each instance.

    Likewise, some borrowing can be good if done at the right times for the right reasons, but that doesn’t mean that I’ve boxed myself into supporting any borrowing at any time.

    Just because when it rains my head gets wet does not mean that if my head is wet it must be raining.

    As to the recession, I see us coming out of this with less than 1% of GDP loss – that’s what the experts are predicting too. However, in the medium term the global economy is in for a rocky ride from peak oil and we can expect signficant periods of larger recession.

  5. vto 5

    It has always got to me that pretty much through the entire term of this labour govt Cullen and Clark have consistently crowed about how their good deeds have resulted in the recent economic growth. Everybody knows that the recent growth was due to two things – the previous policies put in place during the nineties and before – and the healthy world economy.

    So if Cullen claims responsibility for that, which he has for a long time, then he is also responsible for this meltdown. (of course, he is in fact responsible for zip all, but he is the one who has claimed it)

    Re the meltdown, I wager the meltdown will be significantly greater than 1%. Did you notice the building consent stats last week? At the same level as January 2001 – don’t know if you were around then but those were dire times. And then seasonally adjusted those stats and the consents are at I think a 32 year low.

    And when are we allowed to start talking about a run on one of the big banks?

  6. SweeetD 6

    If our growth has been so wonderful, how come we are dropping down the OECD scale? Once upon a time HC had a dream to get NZ into the top half of the OECD. NZ does have a growth problem, pretty graphs do not change this.

    [we’re not in the top half of the OECD because we fell so far behind in the 1980s and 1990s, even a decade of fast growth has not been enough to close the gap. We’ve dropped one place in OECD rankings because Greece (or is it Korea?) is also growing fast and over took us but we are both closing on the higher ranked OECD countries. Even if we did have a growth problem, National has no solution to it. SP]

  7. rave 7

    Key is Bush lite crude.
    Infrastructure to slash and burn oil won by wars for oil.
    Big boys toys destroy lives.

  8. vto 8

    Ah yes Sweeeetd I keep forgetting about that. Back into the top half of the OECD it was. But we have in fact gone the other way – the reason? Sweet f a in the way of growth-promoting policies. This govt has squandered an amazing opportunity. They have just sat on their arse (when it comes to economic matters) and gorged themselves.

    The government is rich and the people are poor.

  9. Quoth the Raven 9

    So according to you vto National can’t be blamed for the slow growth, high unemployment, slow wage growth, higher level of poverty and two years of recession when it was in power and Labour can’t be responsible for the strong economic growth that New Zealand has had since they’ve been in power but the shallow period of growth we’re in now is solely down to Labour. How? Vto do you take LSD, like everyday?

  10. Felix 10

    The government is rich and the people are poor.

    Funny how I never hear poor people saying that.

    Perhaps it’s because what you actually mean is “the govt redistributes the wealth of the country to ensure that the poor are not so poor”

    Nah, you’re probably right, the govt collects money to make itself “rich”.

  11. vto 11

    LSD looks like your prerogative QtR … “the shallow period of growth we’re in now”. There is no growth now QtR. It is actually contracting.

    And I din’t say what you said I said. Cullen, I said, is the one who has claimed it all for himself. He is the one who claims the good but blames other for the bad. Duh. That was the point of the point.

  12. Quoth the Raven 12

    My mistake vto I should’ve said negative growth and you did say Cullen is not to blame for for this meltdown. Maybe I have been taking LSD today. Anyway remember when I pointed out that Bernard Hickey had written this about Labour’s last budget:
    Whatever happened to their mantra that they wouldn’t pay for tax cuts by running up debts? Their (quite powerful) argument that it wasn’t right for National to pay for tax cuts with debt is now dead as the proverbial. Their rebuttal that the debt is only paying for infrastructure is, strictly speaking, true, but debt wouldn’t have to be raised without the tax cuts. There’s no getting away from this. They are raiding the Reserve Bank’s cookie jar and borrowing from foreigners for an irresponsible spending and tax cutting budget.

    I was wondering whether Hickey would be critical of National’s plans. After saying that you’d be sure he would be. Well, he’s come out defending National’s plans, hypocracy anyone?

  13. vto 13

    QtR the hypocrisy is as thick as cowshed shit in both camps on various matters. It seems to be an unfortunate political reality.

    Re borrowing to pay for tax cuts – well people aren’t silly. The govt budget is pretty much a household budget. As long as you’ve got any debt then the argument can so very easily be made that the debt could be for anything in the budget. If you go out and pay cash for a wide screen telly and then borrow for a house then clearly the house debt could be written up as telly debt. The debt can be applied anywhere.

    So it is with this issue – are the borrowings for tax cuts? or infrastructure? or kiwisaver? or the Cullen fund? Or for students free loans? The list goes on.

    But I think there is a little difference in that when you borrow to pay for a house you do so because there is no other realistic way for the vast majority of people to buy a house. And imo it is similar with certain larger items in the national interest. eg. infrastructure.

    And another related matter – imo it is unfair to require this generation to use its cash for infrastructure that spans generations. Sure, obviously it would be fantastic to leave our grandkids etc a debt free set of amazing infrastructure, but we aint rich enough to do that (unless Southland becomes the next Arabian Peninsula). And there is a limit to how much one generation should be required to undergo hardship for the following generations.

  14. lprent 14

    vto: Actually I agree. What I disagree on is what they want to raise debt on. If it spans generations then there should be a fairly high expectation that it will in fact benefit future generations.

    Obviously I’m reasonably sensitive about this because I’m in the generation that the previous John Key (Sir Robert Muldoon) used that argument on my parents. Consequently I’ve not only had to help pay for restructuring the useless command economy he left, but also the debt. This was debt to pay for infrastructure that would ensure that my generation would be wealthy enough to pay for easily (right – like that happened). The infrastructure was to be paid for by debt, and that meant that muldoon could pay for SMP’s for his constituency – the rural community.

    Does this sound familiar… Translate SMP’s into tax-cuts and to me it rings with a horrible cackle.

    In two examples that the Nat’s want to raise debt to ensure growth, roads and fibre to the home – I don’t believe that either will benefit my families kids. To date all I have heard is some vague waffle that essentially comes down to “…have faith in muldoon ummm Key. You just need a leader with courage.” rather than some actual numbers and risk assessments.

    Bugger off – I’m too old to be caught by that crap, and so will a significant portion of the voters. We’ve seen it all before – and we paid for the tee-shirt many time over.

  15. Draco TB 15

    But I think there is a little difference in that when you borrow to pay for a house you do so because there is no other realistic way for the vast majority of people to buy a house. And imo it is similar with certain larger items in the national interest. eg. infrastructure.

    IMO, this is wrong. A nation should never have to borrow for infrastructure. All that really needs to be done is that income taxes need to be raised to cover the investment and once finished the taxes get dropped again. This has the advantage that government spending will remain inflation neutral unlike deficit spending which forces inflation upwards.

    And another related matter – imo it is unfair to require this generation to use its cash for infrastructure that spans generations.

    I’ve addressed this part here.

  16. Matthew Pilott 16

    Just a quick point, the difference between a govt budget and a houehold is that it does not earn an income as such. It can set a income level as required and can choose to set that at the level of expenditure. So the tv/mortgage example doesn’t quite work – a government could choose to fund everything through cash inflows, not debt, a household does not have the option.

    So when we can afford something but choose to reduce government income and fund it by debt there is no household equivalent. If anything it would be like making two purchases, one funded by debt and the other funded from income.

  17. vto 17

    Wasn’t Muldoon’s think big more actually setting up some industries that could be of value in the future, rather than actual infrastructure. The methanol plant for example. Muldoon was out of control in many other ways too though so perhaps a little different. And as for SMP’s for his constituency – student loans paid by the workers (I refuse to call them free) are the same thing politically. Throw the money at some people you want to vote for you.

    Draco, I have to disagree a great deal. Tax is something that should be used with absolute caution. It’s not just some pool of money that the wgtn power freaks can just dip into at will (tho many do seem to think that way). My point on the political spectrum is such that the people and their own financials come first, the government second. The current govt’s attitude to this is the reverse – witness Cullen’s many words over the years betraying his philosophy here. It is not right.

  18. Draco TB 18

    Draco, I have to disagree a great deal. Tax is something that should be used with absolute caution.

    I agree – there would have to be some very strict rules about such use and probably the use of an independent institution like the RBNZ but I’m not about to speculate on that just ATM.

    My point on the political spectrum is such that the people and their own financials come first, the government second.

    I’m of the opinion that there’s no difference. The individual needs society to achieve what they want and vice versa. There needs to be a balance between the two though. If the government takes too much then the people suffer and the economy collapses but if the government takes too little then government services collapse, the people suffer and the economy collapses. I think Cullen has been trying to walk this fine line and doing a fairly good job of it so far.

  19. Quoth the Raven 19

    Farrar has demonstrated the same hypocracy when it comes to National’s plans and Labour’s budget:
    The Labour line of not borrowing for tax cuts is dead and discredited. Now as I have said, I actually do not have a problem with borrowing for capital investment so long as the operating surplus (OBEGAL) remains positive and large enough to cover the Cullen Fund and a buffer on top of that. But OBEGAL will not be high enough to even cover the Cullen Fund until 2016.

    So where does that leave National’s increased borrowing?

    He has in fact cut them so much he needs to borrow money to put into his Cullen Fund. Anyone else doing that would be howled down. It is indeed a “poison pill’ budget like in 1990 designed to force the next Government to run a deficit or cut spending.

    There will be spending cuts regardless of who is in office. The only difference is Labour calls them “reprioritisation’.

    So this will make it tougher for National. they certainly will be able to deliver tax cuts larger than these ones, but not massively larger unless they get more rigorous with saying no to various spending proposals.

    National’s just promised billions of new spending has Farrar changed his tune now. Okay so DPF is not as bad as Hickey but it’s still poor form. I’m not registered with kiwiblog so can anyone who is bring up the right’s collective amnesia around Labour’s last budget.

  20. Swampy 20

    “Obviously I’m reasonably sensitive about this because I’m in the generation that the previous John Key (Sir Robert Muldoon) used that argument on my parents. Consequently I’ve not only had to help pay for restructuring the useless command economy he left, but also the debt. This was debt to pay for infrastructure that would ensure that my generation would be wealthy enough to pay for easily (right – like that happened). The infrastructure was to be paid for by debt, and that meant that muldoon could pay for SMP’s for his constituency – the rural community.

    Does this sound familiar ”

    What sounds familiar is
    – Blame National for all the bad in the economy
    – Give Labour credit for fixing National’s mistakes

    So Roger Douglas’s reforms of the late 1980s must have been 100% right, never mind that they have been roundly condemned by the Left in general.

    Muldoon followed in the footsteps of a long line of previous governments, National and Labour. He cannot wholly be held responsible for the situation NZ found itself in at the time he was in office. Nor can it be reasonable to pretend there was a major difference between the policies of Roger Douglas and Ruth Richardson.

  21. Swampy 21

    “If the government takes too much then the people suffer and the economy collapses but if the government takes too little then government services collapse, the people suffer and the economy collapses. I think Cullen has been trying to walk this fine line and doing a fairly good job of it so far.”

    No, Cullen and Co have pushed the envelope too far in the direction of the government pushing the private sector out of too many parts of the marketplace so the government can have a greater share or a monopoly.

  22. Kevyn 22

    Correct me if I’m wrong, but isn’t GDP only a measure of consumption quantity rather than consumption quality? As such I can improve my quality of life and reduce the GDP at the same time. For instance the money I spend on an imported cylinder wrap is money I can’t spend on something made in NZ. Once I have installed the wrap my spending on NZ made electricity will fall and I might spend that saved money on a subscription to a foreign magazine. Since the magazine is imported it doesn’t count in the GDP. Now, I am still using as much hot water as did before, thus getting the same standard of living in that regard, but I am also enjoying a new source of reading pleasure so in that respect my standard of living has improved. Yet by using energy more efficiently I have reduced the GDP.

    So is fixating on growing the GDP actually a good thing? In the context of borrwing for roads as a means to increase GDP it seems this will actually work more sucessfully than borrowing to improve the railways. Firstly because imports aren’t included in the GDP spending heaps of money importing wagons and locomotives and electricla equipment won’t increase the GDP whereas spending heap on locally produced cement and gravel and rebar and employing lots of people to put it all together will increase GDP. Whatever impact the two investment option may have on future fuel and vehicle imports is irrelevant if the motivation is confined solely to growing the GDP. But the impact on the balance of payments is going to be quite different and that might affect my future quality of life much more than the artficially grown GDP might.

  23. r0b 23

    I know a lot of debates here feature “GDP”, but it’s actually a very odd measure. Some of the issues are discussed here:
    http://www.latimes.com/news/opinion/la-oe-costanza10mar10,0,5656929.story?track=ntothtml
    or here:
    http://dieoff.org/page11.htm
    an alternative is described here:
    http://en.wikipedia.org/wiki/Genuine_Progress_Indicator
    and many other places e.g. here:
    http://www.rprogress.org/sustainability_indicators/genuine_progress_indicator.htm

  24. Kevyn 24

    r0b, Excellent links. Just what I wanted.

    The graph at the 2nd link shows a remarkable coincidence between abrupt changes in the GPI trend and some of the most surprising abrupt changes in the US car buyers preferences. Maybe America’s GPI mood-swings are detected soonest by astute car designers and legislators; or the car is so central to American life that their satisfaction/disatisfaction shows up there first.
    The first long plateau ends when the Lee Iococca’s Mustang starts the pony car horsepower race.
    The next plateau begins when Congress enacts federal mandatory vehicle safety standards.
    That plateau ends when OPEC starts pushing Americans into small imports.
    The next plateau begins when Lee Iococca joins Chrysler and launches the MPV (mini passenger van) as the new American station wagon.
    That plateau ends when Chrysler-Jeep launch the SUV.
    Unfortunately the graph stops before either the Hummer or Prius were released. The tables in the Genuine Progress Indicator 2006 have much less dramatic trend changes but they are still there. The GPI actually goes up when the Hummer/Escalade and other mega-SUVs are released, dips at 9/11 then continues rising slowly. The last year is 2004. Eagerly awaiting for an update covering the Prius release and 2006 fuel price surge.

    I wonder if our GPI is reflected in house prices or sizes?

  25. lprent 25

    Swampy:

    What sounds familiar is
    – Blame National for all the bad in the economy
    – Give Labour credit for fixing National’s mistakes

    If the hat fits – then wear it. The track record of National is exactly that within my adult life. They simply do not seem to be able to do anything right.

    Of course I’ve only really had 2 national governments that I’ve observed closely.

    The first was Muldoon and that started with the long-term fuckup called national superannuation with its classic passing of costs to future generations. It ended with an economy that was massively constrained by paying the interest on government debt.

    The second was Bolger’s that started with the Mother of All Budgets that drastically cut benefit payments and massively deepened a recession. For all of the excuses that some people use for that budget, there was no need to do it fiscally (no world bank leaning down the back, and having some borrowing capabilities), it was done for purely ideological reasons.

    In the last 9 years, the national opposition has looked like the same set of blind faith ideologues that cause problems. This one just appears to want to do everything covertly and to get in by badmouthing the government rather than showing their own long-term policies. Reminds me of muldoon in 1975, and also sounds like a recipe for another disaster for NZ.

    Labour is less dangerous to have in power because they actually use their brains. They aren’t perfect but they don’t make long-term screw ups like the Nat’s routinely do. I’d argue with a lot of the policy decisions, but at least they tend to be thought out.

  26. vto 26

    Hey Draco (way back up there somewhere) you referred to there needing to be a balance between the people and the government when it comes to taxtion. Of course.

    Between the people and society you mentioned. This is wrong imo. The govt is not society. The people together are society. The govt is an appendage that can carry out some jobs for that society.

    This is where the philosophical differences between left and right crop up. I do nto accept govt as some sort of over-arching representative of my society. At all. My society is the people around me, the first concentric ring around me being my immediate family. Next concentric ring, wider family and friends. Next the local community. Next the district.. etc until the nation state is reached.

    The importance seemingly placed by th left on the position of govt in our society is what turns me off it. It is poorly placed and by its own nature is incapable of performing those tasks hurled at it by, generally, the left. The results of that poor placement are thick on the ground.

Links to post

Recent Comments

Recent Posts

  • 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
    5 hours 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
    8 hours 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
    14 hours 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
    21 hours 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
    1 day 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
    1 day 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
    1 day 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
    1 day 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
    1 day 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
    2 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
    4 days 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
    4 days 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
    4 days 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
    4 days 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
    4 days 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
    4 days 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
    4 days 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
    4 days 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
    5 days ago
  • Government redress for Te Korowai o Wainuiārua
    The Government is continuing the bipartisan effort to restore its relationship with iwi as the Te Korowai o Wainuiārua Claims Settlement Bill passed its first reading in Parliament today, says Treaty Negotiations Minister Paul Goldsmith. “Historical grievances of Te Korowai o Wainuiārua relate to 19th century warfare, land purchased or taken ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Focus on outstanding minerals permit applications
    New Zealand Petroleum and Minerals is working to resolve almost 150 outstanding minerals permit applications by the end of the financial year, enabling valuable mining activity and signalling to the sector that New Zealand is open for business, Resources Minister Shane Jones says.  “While there are no set timeframes for ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Applications open for NZ-Ireland Research Call
    The New Zealand and Irish governments have today announced that applications for the 2024 New Zealand-Ireland Joint Research Call on Agriculture and Climate Change are now open. This is the third research call in the three-year Joint Research Initiative pilot launched in 2022 by the Ministry for Primary Industries and Ireland’s ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Tenancy rules changes to improve rental market
    The coalition Government has today announced changes to the Residential Tenancies Act to encourage landlords back to the rental property market, says Housing Minister Chris Bishop. “The previous Government waged a war on landlords. Many landlords told us this caused them to exit the rental market altogether. It caused worse ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Boosting NZ’s trade and agricultural relationship with China
    Trade and Agriculture Minister Todd McClay will visit China next week, to strengthen relationships, support Kiwi exporters and promote New Zealand businesses on the world stage. “China is one of New Zealand’s most significant trade and economic relationships and remains an important destination for New Zealand’s products, accounting for nearly 22 per cent of our good and ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Freshwater farm plan systems to be improved
    The coalition Government intends to improve freshwater farm plans so that they are more cost-effective and practical for farmers, Associate Environment Minister Andrew Hoggard and Agriculture Minister Todd McClay have announced. “A fit-for-purpose freshwater farm plan system will enable farmers and growers to find the right solutions for their farm ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • New Fast Track Projects advisory group named
    The coalition Government has today announced the expert advisory group who will provide independent recommendations to Ministers on projects to be included in the Fast Track Approvals Bill, say RMA Reform Minister Chris Bishop and Regional Development Minister Shane Jones. “Our Fast Track Approval process will make it easier and ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Pacific and Gaza focus of UN talks
    Foreign Minister Winston Peters says his official talks with the United Nations Secretary-General Antonio Guterres in New York today focused on a shared commitment to partnering with the Pacific Islands region and a common concern about the humanitarian catastrophe in Gaza.    “Small states in the Pacific rely on collective ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Government honours Taranaki Maunga deal
    The Government is honouring commitments made to Taranaki iwi with the Te Pire Whakatupua mō Te Kāhui Tupua/Taranaki Maunga Collective Redress Bill passing its first reading Parliament today, Treaty Negotiations Minister Paul Goldsmith says. “This Bill addresses the commitment the Crown made to the eight iwi of Taranaki to negotiate ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Enhanced partnership to reduce agricultural emissions
    The Government and four further companies are together committing an additional $18 million towards AgriZeroNZ to boost New Zealand’s efforts to reduce agricultural emissions. Agriculture Minister Todd McClay says the strength of the New Zealand economy relies on us getting effective and affordable emission reduction solutions for New Zealand. “The ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • 110km/h limit proposed for Kāpiti Expressway
    Transport Minister Simeon Brown has welcomed news the NZ Transport Agency (NZTA) will begin consultation this month on raising speed limits for the Kāpiti Expressway to 110km/h. “Boosting economic growth and productivity is a key part of the Government’s plan to rebuild the economy and this proposal supports that outcome ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • New Zealand Biosecurity Awards – Winners announced
    Two New Zealanders who’ve used their unique skills to help fight the exotic caulerpa seaweed are this year’s Biosecurity Awards Supreme Winners, says Biosecurity Minister Andrew Hoggard. “Strong biosecurity is vital and underpins the whole New Zealand economy and our native flora and fauna. These awards celebrate all those in ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Attendance action plan to lift student attendance rates
    The Government is taking action to address the truancy crisis and raise attendance by delivering the attendance action plan, Associate Education Minister David Seymour announced today.   New Zealand attendance rates are low by national and international standards. Regular attendance, defined as being in school over 90 per cent of the ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • World must act to halt Gaza catastrophe – Peters
    Foreign Minister Winston Peters has told the United Nations General Assembly (UNGA) in New York today that an immediate ceasefire is needed in Gaza to halt the ongoing humanitarian catastrophe.    “Palestinian civilians continue to bear the brunt of Israel’s military actions,” Mr Peters said in his speech to a ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Speech to United Nations General Assembly: 66th plenary meeting, 78th session
    Mr President,   The situation in Gaza is an utter catastrophe.   New Zealand condemns Hamas for its heinous terrorist attacks on 7 October and since, including its barbaric violations of women and children. All of us here must demand that Hamas release all remaining hostages immediately.   At the ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Government woolshed roadshow kicks off
    Today the Government Agriculture Ministers started their national woolshed roadshow, kicking off in the Wairarapa. Agriculture Minister Todd McClay said it has been a tough time for farmers over the past few years. The sector has faced high domestic inflation rates, high interest rates, adverse weather events, and increasing farm ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • PM heads to Singapore, Thailand, and Philippines
    Prime Minister Christopher Luxon will travel to Singapore, Thailand and the Philippines this week (April 14-20), along with a senior business delegation, signalling the Government’s commitment to deepen New Zealand’s international engagement, especially our relationships in South East Asia. “South East Asia is a region that is more crucial than ever to ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Prime Minister launches Government Targets
    Prime Minister Christopher Luxon has announced further steps to get New Zealand back on track, launching nine ambitious Government Targets to help improve the lives of New Zealanders. “Our Government has a plan that is focused on three key promises we made to New Zealanders – to rebuild the economy, ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Natural hydrogen resource should be free of Treaty claims entanglement
    Natural hydrogen could be a game-changing new source of energy for New Zealand but it is essential it is treated as a critical development that benefits all New Zealanders, Resources Minister Shane Jones says. Mr Jones is seeking to give regulatory certainty for those keen to develop natural, or geological, ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Government responds to unsustainable net migration
    ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • New Zealand on stage at global Space Symposium
    Space Minister Judith Collins will speak at the Space Symposium in the United States next week, promoting New Zealand’s rapidly growing place in the sector as we work to rebuild the economy. “As one of the largest global space events, attended by more than 10,000 business and government representatives from ...
    BeehiveBy beehive.govt.nz
    1 week ago

Page generated in The Standard by Wordpress at 2024-04-16T05:10:41+00:00