Tale of two Irelands

Written By: - Date published: 9:41 am, February 20th, 2014 - 42 comments
Categories: bill english, Economy, john key, treasury - Tags: , , ,

In 2005 Fran O’Sullivan outlined John Key’s plans to “Key chases luck o’ the Irish

Key is clearly on a roll as he lists the options New Zealand could explore if it decided to abandon outdated ideology and take a more pragmatic approach to growing the economy.

And later she writes

By the time he left Europe to head home and stand for the 2001 election as a National candidate, Merrill Lynch had more than 400 staff in Dublin. It now has 700.

keydealerI guess for all his financial genius at deals, Key just couldn’t see what was coming for Ireland and he wasn’t alone.

But jobs weren’t so high in Irelands hub by 2008.

However in February 2010 John Key was now Prime Minister and fully cognisant of Ireland’s collapsed banking system and financial hub collapse. Nonetheless he was cock-a-hoop about New Zealand following the lead he took when he was London-based head of Merrill Lynch’s global foreign exchange business. He had shifted a lot of the bank’s business to Dublin.

The Business Herald article said in Feb 2010

Making New Zealand an international finance centre with “middle and back-office functions” in the funds management industry was one of the recommendations of the Capital Markets Taskforce report last month.

It found the “hub” notion viable but kept the detail of its advice on how to implement the plan out of the report, giving it directly to Mr Key instead.

However in May 2010, reporting for the New York Times, Simon Johnson, former chief economist at the International Monetary Fund stated

Ireland’s politicians, rather than facing up to their problems, are making things ever worse. Simply put, the Irish miracle was a mirage driven by clever use of tax-haven rules and a huge credit boom that permitted real estate prices and construction to grow quickly before declining ever more rapidly.

Not simple enough for our prime Minister it seems because by December 2010 he was publicly venting his frustrations at the slow progress of his Ireland dream. He described the Ministry of Economic development’s desire for appropriate documentation as “absolute rubbish” and that

Economic Development Minister Gerry Brownlee has been ordered to produce an urgent paper covering a zero tax rating for the relevant foreign funds which Key wants incorporated in the November taxation bill and passed by April 1 next year.”

Although the pet hub appeared to be coming to nothing National, with the support of its coalition parties, created part of the dream through the back door through a September 2011 law change. This resulted in the removal of some tax obligations for people not resident in New Zealand through Portfolio Investment Entities (PIE).

Mr Stobo, chair of the $500,000 government-appointed task force committee to look at his pet hub, said this about the law change in September 2011

It represented “significant progress” in establishing the environment necessary for global funds to have back-office processing occur in a New Zealand hub” that reported on the issue last year.

In May 2012 Key backed away from his pet hub. But remember he had still achieved the PIE tax change heralded by former banker Stobo.

Following queries from the Sunday Star-Times last week, Key distanced the government from the controversial aspects of the plan.

“The more costly aspects of the [hub] plan were not seen as an effective use of taxpayer money,” a spokesman said.”

But Bill English says “New Zealand ain’t no Ireland“.

Stephen Jen, from SLJ Macro Partners, and a former global head of currency research at Morgan Stanley, has compared New Zealand’s situation to that of Ireland and southern European nations and has warned it’s just a matter of time before the value of our dollar falls significantly.

Bill agrees with Jen about his view of the currency and the problem with our real estate market BUT otherwise he says Jen is wrong

I think they completely misunderstand the difference between New Zealand and Ireland, I mean Ireland had a banking crisis and they’ve got massive public debt – ours is at reasonable levels.

Bill considers a climbing public debt from 18 million when he took over, to $55 billion, and climbing daily, is “reasonable”.

Bill’s right about one thing though, they had a banking crisis and we didn’t. But it was not for the want of that greatly admired financial genius John Key pushing us toward our own. Mr Key would have his hub today but for Treasury bringing up some pesky bureaucracy and warnings about high risks.

Heck he would have had it in 2010 if he could have. And yet Jen knows we are not in a banking crisis but still fears for us. Bill had no comment about Jen’s summary of our economy as having a “fragile core” and “a growth model based on debt and credit, low savings rates, and current-account deficits”.“

John Key Nat Billboard Corproate voteSo who stopped John Key? Like the Blues Brothers he seemed to be on a mission from God

A. Treasury
B. Bill English
C. Steven Joyce
D. Other. Please specify

Tracey

42 comments on “Tale of two Irelands ”

  1. TightyRighty 1

    silly me, i thought this might have been written by someone with an ounce of economic literacy. Instead it’s just a badly selective cut and paste job that completely ignores the challenges ireland was faced with when it’s currency zone and the global economy went into recession.

    • tricledrown 1.1

      Tightarse Almighty.
      Was that the Merrill Lynch Ponzi scheme that wan’t talked about above where for every dollar on deposit at ML $38 were printed and lent to speculators in Ireland while John Key was in charge.
      Or was that the Financial report that Merrill Lynch foisted on the Irish Govt who paid €14 million for 7 pages of lies on the state of the Irish economy ,while the Irish govt was waiting for this report Merrill Lynch took its money(insider trading) and ran knowing well before anyone else the Irish economy was a house of cards stacked in favour of Criminals who have got away with hundreds of billions.

      • tricledrown 1.1.1

        That’s why this hub was cancelled and Key and Nactional have not once mentioned the financial hub idea once not once.
        Because of Merrill Lynch and JohnKeys deep involvment in setting up this failed Ponzi scheme in Ireland.
        New Zealand was very lucky this Key sponseted scheme never got to be in NZ.

        • travellerev 1.1.1.1

          Rofl!!! So that is why the NZSM opened up for derivatives gambling and started a brand spanking new “slush fund” Clearing House to enable gambling on our dairy market and what not!

          And perhaps that is also why Bill English thought that investing in $112 Billion in Derivatives (As of 2011 and counting) was such a brilliant Idea!.

          If that dollar goes so goes NZ! Courtesy of John Key and his bankster mates.

    • felix 1.2

      Actually no, it’s about the challenges ireland was faced with when it’s currency zone and the global economy went into recession.

      You just don’t like being reminded that Key tried to take us down the same path.

  2. Lanthanide 2

    New Zealand will realistically never be in the same position as Ireland, because we do not have a massive export market merely 2 hours away by plane. The tyranny of distance ensures we can never replicate what Ireland achieved.

    Actually something my BF and I were talking about a while ago, around 2005 or so Japan was mulling applying to join the European Union, although they never made a formal request of it. The EU constitution doesn’t actually prohibit such a membership, Japan would just have to get enough votes from the other member countries. One of the arguments now about stopping Turkey from joining the EU is that they don’t have a similar enough cultural heritage, despite being on the edge of Europe (I think it’s really just a form of xenophobia / trying not to extend their currency to another country).

    At least if NZ petitioned to join the EU, we’d have the cultural heritage squarely on our side.

    • tricledrown 2.1

      Lanth the culture of Stupidity.
      Ireland grew initialy after economic union on the back of massive subsidies €40 billion a year it could afford to lower taxes with those sort of subsidies Now former Eastern block countries are getting their slice of subsidies from the EU.they can cut taxes in a race to the bottom.

  3. One Anonymous Bloke 3

    Stobo’s group’s blueprint for the hub, tabled in Cabinet, said these deals should be contractually locked in to prevent a change of government torpedoing the deals, and the details of payments should be made “commercial in confidence” and not be available for public scrutiny.

    Perhaps the Quisling shill realised that the next government will have a mandate to tear up the contracts.

    • karol 3.1

      In trying to find where OAB got this quote from, I realised there’s a consistent typo in the post. The name is “Stobo” not “Sobo”.

      OAB’s quote is from the “May 13” link to Dom Post – but it’s dated 2012, not 2013.

      [lprent: corrected ]

  4. karol 4

    Thanks, Tracey. Some good sleuthing there.

    I was particularly interested to read the tie in between Key’s Merrill lynch connection with Ireland, and his talking up a similar approach in NZ.

    It actually shows the limitations in his approach to leading a country, and reinforced by the apparent differences between Key and English.

    • Tracey 4.1

      For me most interesting was how eager he was. It was push push… vent frustration… push then nothing.

      Did someone suggest the pie concession to make him feel like he hadnt totally backed down. If yes, who?

      Who can tell this pm not to do something he really wants to do, and succeed?

  5. ianmac 5

    Tracey. Are you suggesting that Mr Key is ignorant or incompetent? For years we have been told of Mr Key’s huge business success, and of the National Party’s superior Economic Management. So clearly your post must be wrong. Mr Key is infallible. His humble beginnings and a boyish grin must indicate great messiah promise and like Jesus he cannot make mistakes.
    Come to that are you daring to suggest that Fran O’Sullivan is not a good judge of economic matters? Shame on you!

  6. Actually he did say it was entirely foreseeable and what’s more he says in a breakfast TV interview that “the banks” must have known in their heart of harts that they would never get their money back.

    Mind you we have a choice here. Either we follow Iceland’s example, arrest our prime minister and the bankers responsible or we follow Ireland. They feel obliged to pay back unsecured gambling debts of the international elite. I hope for the first but reality tells me that Kiwi’s are suckers and hey he is the most popular of all prime ministers it seems!

  7. felix 7

    “I guess for all his financial genius at deals, Key just couldn’t see what was coming for Ireland “

    You make it sound like it was an accident.

    • Tracey 7.1

      I hope I did not. I hope I sounded like I consider Key knew exactly what he was doing. Not in our best interests or Irelands. But in the interests of “someones” for sure.

  8. captain hook 8

    Donkeyote is only any good going forward. When the shit hits the fan he hits the track.

    • When the Bankers Trust bank collapsed in 1995 because they got caught scamming their customers with, I kid you not, misleading fraudulent derivatives, John Key told Eugene Bingham from the NZ Herald: And when the shit hit the fan I said, right I’m out of here” and he left for a new position at Merrill Lynch. That position? Starting a new and exiting new product line…. Oh oops, Derivatives!!! And yes, he was mainly responsible of setting up that department in non other than Ireland.

      No wonder, Eugene Bingham, editor of the NZ Herald removed the 5 pages of the “unauthorized biography” pertaining to John Key’s career in banking from the NZ Herald after I send him an open letter confronting him with his glib and banker celebrating not so unauthorized fluff piece

  9. TightyRighty 9

    Ah tricledown, the lefty invented straw man argument that you rail against so hard.

  10. bad12 10

    Tax the speculative capitalists back to their caves, promote a tax base which grossly favors the productive capitalists over the speculative capitalists even to the extent of the provision of an even lower than the present taxation of productive capitalism using the upper level of taxation of speculative capital to fill any gaps…

    • Tracey 10.1

      So, bad, who do you think has the kind of authority to tell John to “let it go?”

      • bad12 10.1.1

        Hmmm, at a guess, Cameron, Obama,the head of the US Fed, the IMF at whose tender mercies and hands Slippery the PM and the National Government are hell bent upon placing the fortunes of New Zealand at the whim of once the bell rings and 80 billion dollars of Government debt is racked up,

        Or,

        A combination of all of the above along with anyone else in the form of countries and/or banks who have a significant amount of ‘skin’ in the ‘game’ considering that Slippery the PM would likely have had to undercut them to attract the biggest criminals the world has ever encountered to these shores…

    • Draco T Bastard 10.2

      Tax the speculative capitalists back to their caves,

      Not that long ago speculators like John Key were hung. I’d prefer a modernised version of this.

  11. blue leopard (Get Lost GCSB Bill) 11

    @ Tracey

    Thank you for the excellent article

  12. newsense 12

    So in other news Labour had run debt through the ceiling- we have much more debt now than we did then and we are at reasonable debt levels.

    Tory maths.

    • tc 12.1

      Tory maths: tax cuts/gst rise will be fiscally neutral so says the govt….treasury states they cost over 1b per annum in lost crown revenue.

      This simple example shows how the wilful lies have become MSM assisted ‘truths’, black is white, stick with us and it’ll all be OK……yeah right.

  13. captain hook 13

    The Irish economy expanded rapidly during the Celtic Tiger years (1994–2007) due to a low corporate tax rate, low ECB interest rates, and other systemic factors (such as soft surveillance of banking supervision including against observance of Basel Core Principles, underdeveloped public financial management and anti-corruption systems and adoption of poor policies including a corporate tax system that fostered non-tradable goods and services through the construction industry). This led to an expansion of credit and a property bubble which petered out in 2007. Irish banks, already over-exposed to the Irish property market, came under severe pressure in September 2008 due to the global financial crisis of 2007–2010.

    Irish banks’ foreign borrowings rose from €15bn to €110bn in 2004-08.[11] Much of this was borrowed on a three-month rollover basis to fund building projects that would not be sold for several years. When the properties could not be sold due to oversupply, the result was a classic asset–liability mismatch. At the time of the 2008 government bank guarantee the banks were said to be illiquid (but not insolvent) by €4bn, which turned out to be a huge underestimate.

    Is that enough or does anyone out there want more?

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    Point of OrderBy poonzteam5443
    3 days ago
  • Newshub is Dead.
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    Nick’s KōreroBy Nick Rockel
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  • Seymour is chuffed about cutting early-learning red tape – but we hear, too, that Jones has loose...
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    Point of OrderBy Bob Edlin
    3 days ago
  • Bryce Edwards: Will politicians let democracy die in the darkness?
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    Democracy ProjectBy bryce.edwards
    3 days ago
  • Was Hawkesby entirely wrong?
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    Point of OrderBy poonzteam5443
    3 days ago
  • PRC shadow looms as the Solomons head for election
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    Point of OrderBy poonzteam5443
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  • Climate Change: Criminal ecocide
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    No Right TurnBy Idiot/Savant
    3 days ago
  • Is saving one minute of a politician's time worth nearly $1 billion?
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    The KakaBy Bernard Hickey
    3 days ago
  • Long Tunnel or Long Con?
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    3 days ago
  • Smoke And Mirrors.
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  • What is Mexico doing about climate change?
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    3 days ago
  • State of humanity, 2024
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    More Than A FeildingBy David Slack
    3 days ago
  • Govt’s Wellington tunnel vision aims to ease the way to the airport (but zealous promoters of cycl...
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    Point of OrderBy Bob Edlin
    4 days ago
  • The case for cultural connectedness
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    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
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    4 days ago
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    The KakaBy Bernard Hickey
    4 days ago
  • True Blue.
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    Nick’s KōreroBy Nick Rockel
    4 days ago
  • Who is running New Zealand’s foreign policy?
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    PolitikBy Richard Harman
    4 days ago
  • 2024 SkS Weekly Climate Change & Global Warming News Roundup #15
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    4 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 ...

    4 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 ...
    5 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
    5 days ago
  • No Longer Trusted: Ageing Boomers, Laurie & Les, Talk Politics.
    Turning Point: What has turned me away from the mainstream news media is the very strong message that its been sending out for the last few years.” “And what message might that be?” “That the people who own it, the people who run it, and the people who provide its content, really don’t ...
    5 days ago
  • Mortgage rates at 10% anyone?
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    Point of OrderBy xtrdnry
    6 days ago
  • Sad tales from the left
    Michael Bassett writes –  Have you noticed the odd way in which the media are handling the government’s crackdown on surplus employees in the Public Service? Very few reporters mention the crazy way in which State Service numbers rocketed ahead by more than 16,000 during Labour’s six years, ...
    Point of OrderBy poonzteam5443
    6 days ago
  • In Whose Best Interests?
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  • Don’t Question, Don’t Complain.
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    Nick’s KōreroBy Nick Rockel
    6 days ago
  • Auckland faces 25% water inflation shock
    Three Waters became a focus of anti-Government protests under Labour, but its dumping by the new Government hasn’t solved councils’ funding problems and will eventually hit the back pockets of everyone. Photo: Lynn Grieveson/Getty ImagesTL;DR: The six news items that stood out to me at 8:06 am today are:The Government ...
    The KakaBy Bernard Hickey
    6 days ago
  • Small accomplishments and large ironies
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    More Than A FeildingBy David Slack
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  • The Song of Saqua: Volume VII
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  • Accelerating the Growth Rate?
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    6 days ago
  • The only thing we have to fear is tenants themselves
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    More Than A FeildingBy David Slack
    7 days ago
  • Peters talks of NZ “renewing its connections with the world” – but who knew we had been discon...
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    Point of OrderBy Bob Edlin
    7 days 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
    5 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
    11 hours 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
    12 hours 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
    14 hours 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
    15 hours 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
    18 hours 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
    18 hours 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
    23 hours 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
    1 day 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
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    BeehiveBy beehive.govt.nz
    2 days ago
  • Patterson promoting NZ’s wool sector at International Congress
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    BeehiveBy beehive.govt.nz
    3 days ago
  • Removing red tape to help early learners thrive
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    3 days ago
  • RMA changes to cut coal mining consent red tape
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    BeehiveBy beehive.govt.nz
    3 days ago
  • McClay reaffirms strong NZ-China trade relationship
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    3 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
    3 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
    3 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
    3 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 ...
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    4 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 ...
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    6 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 ...
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    7 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 ...
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    7 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 ...
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    7 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 ...
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    7 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
    7 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 ...
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    7 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 ...
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    7 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 ...
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  • 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 ...
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    1 week 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 ...
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    1 week 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 ...
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    1 week 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 ...
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    1 week ago
  • Boosting NZ’s trade and agricultural relationship with China
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  • Freshwater farm plan systems to be improved
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    1 week ago
  • New Fast Track Projects advisory group named
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    1 week ago

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