web analytics

Ten ways to beat our snowballing debt

Written By: - Date published: 7:22 am, December 9th, 2010 - 69 comments
Categories: economy, john key, leadership, Left, national - Tags: ,

Even Fran O’ Sullivan has been moved to admit (ht: ianmac) that our current Emperor has no clothes:

Speaking frankly, aren’t we all starting to get a bit concerned that the National-led Government seems asleep at the wheel when it comes to dealing with our snow-balling debt?

Speaking frankly, some of us are more than “a bit” concerned, and have been for some time. Anyway, Fran goes on to outline her very own right wing action wish list:

1 – MASTERMIND A REAL TAX SWITCH

Ramp up GST to 20 per cent. Sure it’s regressive…

2 – REVAMP SUPER

Means-test New Zealand Superannuation and move the qualifying age for the able-bodied to 67 by 2017 …

3 – SLASH MOST PUBLIC SECTOR PAY RATES BY AT LEAST 10PC

… Most top state bosses could usefully take a 30 per cent – or more – haircut …

4 – AXE THE MINISTRY OF ECONOMIC DEVELOPMENT

Let’s face it, the ministry was mainly a sop to Jim Anderton …

5 – INTRODUCE A CAPITAL GAINS TAX AND/OR LAND TAX

… It is quite simply a nonsense to continue to run a system which protects the asset-rich …

6 – MEANS TEST GOVERNMENT GRANTS FOR CREATIVE INDUSTRIES

… Axe all top-up student funding for topics such as “gender studies” and the like …

7 – INCREASES IN TAXES

Savagely increase excise taxes for alcohol and tobacco …

8 – TELL LEN BROWN TO GET THE AUCKLAND COUNCIL TO FUND ITS OWN RAIL INVESTMENTS

… If the council was smart it would simply sell down its Auckland International Airport Holding and/or Ports of Auckland …

9 – BRING IN A BANKING PROFITS LEVY

… Step-up prudential supervision so banks can’t fund another era of excess …

10 – ROLL BACK LABOUR’S ELECTION BRIBES

… Nor can we afford interest-free student loans …

There’s a couple of points I agree with, but not many. I think we need to do better. Much better. So what would a leftie action list look like? What would be items on your top ten list for reducing debt?

69 comments on “Ten ways to beat our snowballing debt”

  1. I’m not against raising GST if, as Fran suggests, its offset by removing it on food,

    revamping Super is OK,

    cutting public sector wages is dumb – drive more talented people out of public service, cut household incomes,

    dismantling MED and putting its parts elsewhere is just fiddling around, pointless tinkering

    capital gains/land tax – yup

    means test government grants – small potatoes and probably more complicated than it first appears. Of course, the first thing you would do is stop subsidising the production of Hollywood movies that are going to make billions in profits.

    increasing excise on alcohol and tobacco is ok but if this is actually about harm reduction then there’s whole lot of other things that need to be done. Old Zet’s written about that.

    we don’t expect councils to fund their own roads (even local roads are funded out of the National Land Transport Fund), why should rail get different treatment?

    Banking profit levies seem good to me, but again, there’s other things – not letting them loan with too low deposits, making them raise more of their money in NZ.

    I don’t see how we can afford not to have interest-free student loans. What is with the rightwing instinct to slash education? It’s madness.

    • r0b 1.1

      I’m surprised by your first point on GST Marty. Tell us a bit more about your reasoning?

      • Marty G 1.1.1

        well, GST is regressive, yes, but if you take it off food and it’s already not on housing then it doesn’t apply to a lot of what low income families are spending their money on. You’re effectively taxing consumption of ‘wants’ rather than ‘needs’, and the regressiveness is probably alleviated.

        I think in general for a country that is heavily indebted to the rest of the world working and earning an income is desirable, whereas consumption is less desirable. So, if you could tax income less by taxing consumption more (and that reduction in income tax didn’t all go to the top end but went on making the income tax system more progressive to counteract the regressiveness of GST) and you weren’t taxing consumption of basic needs, that would encourage a better outcome – more take-home income, more saving, less consumption.

        I was actually going to make GST off food funded by raising it on everything else part of the big tax post the other day – but I thought there was enough to chew on already 🙂

        • r0b 1.1.1.1

          Cheers Marty.

        • felix 1.1.1.2

          That’s an interesting point Marty, and I get the “needs vs wants” aspect.

          But wouldn’t it also further entrench the growing gap between those who can’t afford “wants” and those who can?

        • prism 1.1.1.3

          There is obviously still a lot of spending money around for nick-nacks for the houses of the stylish people. They are too sophisticated for three ducks on the wall but still what is bought must be huge and affordable to the aspirational middle-class if you see the number of lifestyle/gracious living shops. Charge them higher GST by all means and also higher on toys which are a commodity – society seems to be stacked to the roof with white bears. (Good if the purchase of every one gave a $ to a fund to preserve the real polar ones.)

          Trouble is higher GST means difficulty in keeping a basic household going, the repairs to the machinery, the appearance spending – haircuts, good clothing and shoes, the furnishings that are needed, and the cost of social mixing, travelling to be with family, going anywhere. There are many people who haven’t enough to manage on and credit if available tends to be overused until there is a debt burden. Reports from the Budgeting Service reiterate this.

          • NickS 1.1.1.3.1

            This.

            Higher GST translates to it becoming more expensive to get stuff I need, such as clothing that will stand up to the abuse I dish out, and parts to keep my bike functional and fairly basic recreational stuff such as tramping (gear, food, fuel). A rise up to 20% would be a bigger kick than the rise to 15%, a change which we’ve seen plenty of evidence that is caused significant issues for those on a low to middle income, an increase which Labour really should get up and promise to reverse completely.

        • aj 1.1.1.4

          You’d have to take it of all food, then that brings up the question of restaurants etc. You’d also have to take it off electricity. An essentail for all households.

      • Uroskin 1.1.2

        Why not bring in the areas of economic activity and trading that are currently exempt into the GST regime so the overall rate can be lowered: housing sales, rents, currency trading (Tobin tax) etc.

  2. Don’t worry about debt, as GW said it is just numbers on paper, or pixels.
    As we all know the global economy has gone tits up, the USA is being run like Zimbabwe or 1930s Germany.
    So lets borrow as much as we can, and party party, because we will never have to pay it back.

  3. Herodotus 3

    At least there is a commencement to this discussion, along with the likes ofrom here “The New economy tax” and when I’m 67. Unfortunately no party can stand up to be elected on such platforms as no one will vote for them (I can see nat/Lab etc standing up next year toincrease the age). So we follow a path that is not the best for us. NZ has to take some medicine, by delaying such decisions only leaves us with a increasing difficult time in trasition from the now situation to future. Just like the housing bubble the longer it goes on without correction the bigger the BANG !!
    Also agree with Fran re reversing Labs implimneted policies-bring back interest into student loans, yet from the savings this will provide pump this back into govt assistance in course fees, fund the instutions with this money, resulting in less people being directly dependant upon the govt for handouts, this will also reduce in the amount students will have to borrow
    From Frans’s list tadded to those of Lab and Nat followers there will be some from all camps that would result in a better NZ (And not all will be in common) . there just is no one willing to cherry pick the ideas and have the skills to implement them. And just taking the common widely accepted ideas e.g. exercise tax, property tax is not enough.
    There almost also for me a requirement back to 1st Principles. What is the govts role & why does govts tax?
    But at least this year there is discussion, as a parting comment unfortunately that vast majority will vote depending on self interest.

    • Colonial Viper 3.1

      What is the govts role & why does govts tax?

      Which also opens up these questions
      1) What is the appropriate role of the private sector in society?
      2) What is the appropriate role of markets in society?
      3) What is the role of social capital in society vs financial capital vs environmental capital?

  4. ianmac 4

    INTRODUCE A CAPITAL GAINS TAX AND/OR LAND TAX
    That would go down well with dairy farmers if it is true that many are in farming for the capital gains!

    • prism 4.1

      ianmac – Capital gains tax, stamp duty, estate duty, financial turnover tax – let the government get their hands in to monied transactions and out of interest under $100 on savings.

      Jeremy Harris – Good with the smarts. What about something positive that encourages everyone in society to be creative with their skills in making things not just in tax evasion.

    • KJT 4.2

      It would go down well with young people who want to farm land rather than capital gains.

  5. Jeremy Harris 5

    A left wing ten point list for reducing debt, hmm:

    1). Raise taxes
    2). Raise taxes
    3). Raise taxes
    4). Raise taxes
    5). Raise taxes
    6). Raise taxes
    7). Raise taxes
    8). Raise taxes
    9). Raise taxes
    10). Raise taxes

    • ianmac 5.1

      Since dropping taxes has increased our debt and diminished revenue, it makes sense to reverse that trend by increasing taxes. Well done Jeremy. Have a word with Bill.

    • Bunji 5.2

      Good to see you’re not letting stereotypes get in the way.
      Looking at the right wing options of:

      Ramp up GST to 20 per cent. Sure it’s regressive…
      5 – INTRODUCE A CAPITAL GAINS TAX AND/OR LAND TAX
      7 – INCREASES IN TAXES
      9 – BRING IN A BANKING PROFITS LEVY

      I’m not sure how that would distinguish left from right.

      In fact the left would have had a big stimulus and not let us get into such a recessionary hole. The problem is low company tax from unprofitable business in the recession, and low GST take from people not having money to spend… If we weren’t in a recession (and the figures will come out showing we’ve double-dipped), or hadn’t introduced such big tax cuts for the rich, we wouldn’t have a problem…

      • Colonial Viper 5.2.1

        IMO there’s been no double dip, for the real economy and for workers its been one long slide down. You need to have had some significant up turn first for there to have been a double dip.

        Unless you call the plane levelling off briefly before plummeting again a double dip.

    • Colonial Viper 5.3

      Jeremy

      Govt can fund economic down turn deficits by borrowing or by raising taxes. (Key could close deficits through massive Govt cut backs which NAT would love to do and have draft plans for but they won’t dare to scare the horses now).

      If you borrow, you get loaned money from wealthy capital holders which you have to pay all of it back with interest.

      If you take the money from wealthy capital holders (CGT, land tax, estate tax, highest income earners), full stop.

      That’s the difference.

      Then use that tax take and put it into activity which will give ordinary people jobs doing things that we need to get done as a country anyways.

  6. just saying 6

    [ lprent: deleted as per request. ]

    • just saying 6.1

      Why is there no ‘edit’ time since I pushed post in error and was (obviously) not finished?
      Admin, please delete the above. I’m in a hurry and really didn’t have time for this.
      It’s all a bit pointless anyway.

  7. r0b 7

    What struck me about Fran’s list was how grindingly negative it all was. Cut cut cut punish punish punish. Nothing positive, nothing about how sustainable, innovative, green-led growth could make the debt problem disappear in a different way.

    This is why conservatives are useless in government. No vision.

    • Marty G 7.2

      agree with that. If it’s about redirecting the economy, there has to be good to balance the bad.

    • Colonial Viper 7.3

      Is it redirecting the same ship what we need, or starting work on a brand new ship?

    • insider 7.4

      Because it wasn’t presented as an economic vision just ways to address an urgent issue. All of these things are things that can be done relatively quickly with a pen stroke. You are talking about longer term structural changes. The structural changes you want may be impossible if your coutnry is bankrupt. (although it could be argued that bankruptcy might make it easier as it provides a circuit breaking moment)

      • Draco T Bastard 7.4.1

        But wouldn’t it be better just to do the necessary structural changes and redirecting the economy to a sustainable path rather than just fiddling around the edges NACT have been doing and which Fran suggests more of?

        • insider 7.4.1.1

          No reason you can’t do both but I think this is about timing and effect. The issue FoS is wanting addressed is a short term one and her measures are quick fixes. You’re more interested in longer term issues and they take time to address and to see the results. Eg you could immediately change tax rates so that they support ‘sustainable’ industries but it will take a lot longer to have an effect.

  8. me 8

    Legalize cannabis. Save a billion dollars in jail costs. Make a millions in taxes. Make more millions in tourism. Win win win.

  9. Adrian 9

    There is GST on housing , on a section and new first home, say about 350k there is $52,500 of gst therefore we are borrowing from offshore 50k for each house to pay the GSt on a new one of which almost everything is made in NZ. Thats just bloody nuts. Put the GST up another 5% and we just exacerbate the problem. Just on houses at say 25,000 new ones a year at 50k each that’s $1.25 billion borrowed a year from the bloody banks. Theres your first move.

    • Colonial Viper 9.1

      But! If you lessen the amount of interest bearing debt that they can pile onto NZ’ers, where will the banks keep getting their record profits? What are they going to pay their record bonus earning CEOs with? You’re so unfair 😕

  10. Tiger Mountain 10

    Electricity generation and supply should be returned to full public ownership for a start, with minimal compensation to the bludging sector that has been creaming it from what should always have been a public utility.

    A whole lot of potential nationalisation cases, large and small, including SOEs could be looked at, just to really make the righties fill their pants. Outflow of capital to offshore owners in the form of repatriated profits is a major reason for the foreign account deficit over many years, though there were a couple of interesting quarters recently.

  11. SPC 11

    KIWI SAVER

    The first change is to reform Kiwi Saver. The only subsidy that should remain is the $1000 start-up and only for those over 18 who are working. It should simply become compulsory at the 2% rate – and all the money saved should be available for buying a first home, (insulation/energy efficient upgrade of an existing home) and when unemployed at a draw down rate or for study.

    That reduces the deficit by $1Bpa.

    TAX REFORM

    And while I support a reduced tax on interest income (to not tax the inflation proofing component) that has to come from a new source of tax revenue (such as from a CGT).

    GST

    I support a 20% rate GST and a 10% rate for food, rates, medical and education spending and power. Basically 20% on discretionary spending (imports) and 10% on necessities (domestic) – but within the free trade rules system.

    I would exempt new property from GST (to lower new home cost), but add GST to mortgages (the “surcharge” Bollard wanted). Why? Well the higher mortgage cost because of the added GST, the lower the OCR. The lower the OCR the lower the businesss borrowing rate and the lower the dollar value (however this concept works best with a CGT funding a lower tax on interest income and pressure on banks to finance their loans from on-shore).

    Note that even if the home owner paid 20% GST on their mortgage – the may not pay any more than they do now because the OCR funding cost base to banks will be lower.

    Effectively a 20% rate GST on mortgages creates tax revenue/income/wealth out the existing anti-inflation OCR monetary policy settings.

    I suspect that this tax change will lower GST cost for lower income and most middle income families yet raise more tax revenue overall. But I am not sure how much extra revenue would be involved.

    INCOME TAX CHANGE

    Reduce the cost of WFF at the top end – after the recent tax cuts in this income area, this is appropriate.

    TERTIARY EDUCATION

    Interest free loans are a vital part of establishing an incentive to remain here to work – a point of difference to those who leave. This should be extended by having debt written off over 10 years for doctors and nurses and teachers and CRI scientists.

    I would however increase university funding by increasing fees – that means a greater incentive for graduates to stay and not leave, as only those who leave pay the interest on the higher fee debt.

    SUPER

    Apparently we go from 13% to 20% of people on Super by 2030. How much of that extra 7% cost can be met by the growing Cullen Fund (now $18B) is the question. I don’t see how changing Super settings before 2030 will change much unless any savings are placed into the Cullen Fund. Attempts to make savings and using them to manage current budget issues is a smokes and mirrors con played by those who want the money for personal income tax cuts or for spending programmes. Shame on those involved. The serious contributors would want any savings to the current cost of Super placed into the Cullen Fund.

    Sure it can be argued that those in work over 65 are very costly. They receive over $300 a week while working and we pay someone else under 65 $198 a week to remain unemployed (if often lower down the job chain). The best way to get their buy in to change is to place all of the savings made into the Cullen Fund to guarantee their Super when they do leave work.

    I remember advising Anne Hercus back in 1983 to make Super a retirement benefit, she preferred the surtax on rich peoples savings income (as I remember advising Douglas to establish a CGT, he preferred an Assets Tax – but this was the one thing he said he would do in correspondence in 1983 that he later did not and he said a lot then).

    Increasing the age to $373 a week Super is harsh on the poor on UB ($198) IB and SB while in their 50’s and 60’s – even those on the IB by far the most generous receive nearly $100 a week than on Super. It’s also harsh on those who will not live into their 80’s – most Maori and most Polynesians a growing share of our population.

    So I favour work testing Super from age of 65, meaning those who would be on the UB, SB and IB with any age increase do get Super.

    This is fairer and also means those working after age 67 add to the saving made.

    • r0b 11.1

      Some interesting stuff there. Good on you for putting some real effort into the question!

    • Lanthanide 11.2

      “The first change is to reform Kiwi Saver. […] all the money saved should be available […] when unemployed at a draw down rate or for study.”

      Are you suggesting a compulsory, or voluntary draw-down rate from your kiwisaver account if unemployed or wanting to study?

      I definitely think this should not be compulsory, and I’m not even sure if it should be voluntarily allowed if you’re unemployed. The whole point of kiwisaver is to set yourself up for a better future; letting you buy a house with the money is arguably setting you up for a better future, but letting you fund 6 months of unemployment (when you might otherwise have found a job, through desperation, after 4 months) only weakens your long-term outlook because when you get to retirement age there could be significantly less left in your account due to that withdrawal (and losing the compound growth on that money).

      Taking out money to study, or pay back a student loan I could see as acceptable, but there’s the same loophole there for people to simply sign up for a polytech course, take the money but not actually attend. Also becomes problematic with whether you should allow all types of study, or restrict it to useful trades/professions.

      At the moment there are already provisions for taking your money out due to ‘extreme hardship’ and other early-out options, and I think these are probably sufficient.

      • Vicky32 11.2.1

        Lanth, you say “(when you might otherwise have found a job, through desperation, after 4 months) ” which would be all very well, if desperation had anything to do with it! It makes no difference how desperate the unemployed person is – trust me, I know!
        Desperate or not – if jobs don’t exist, the unemployed person can’t find them.
        Deb

      • SPC 11.2.2

        I suggest compulsory Kiwi Saver at the 2% rate for those who work full-time (get the 40 hour minimum wage rate).

        I would support the ability of the unemployed to choose to draw down (over a period of time) their Kiwi Saver account to support them while they are on the UB. Given the end of redundancy packages at least the 2% employer input to the Kiwi Saver is something.

        You are aware that many older workers over 60 on UB SB or IB are unlikely to work before they retire. Some could spend years on $198 a week UB and then on finally reaching age 65 they get $373 a week. They do not need the Kiwi Saver income when 65, but before they get to that age so they are alive and well.

        I doubt that drawing down some of their savings to supplement their UB will mean they are less likely to obtain work if it is available – are you someone who believes that those on benefits need the desperation of poverty to motivate them to work? Is that something you read on Kiwiblog

        • Rob 11.2.2.1

          In the circumstance you mentioned yes it would be beneficial to draw on Kiwisaver. However people leave their jobs multiple times during their life if they drew on Kiwisaver every time there would be little point in the fund as a superannuation vehicle. This could be addressed by allowing people to retire earlier than 65 by claiming Kiwisaver and getting UB level funding with it but that is not really something that should be encouraged.

          • Rob 11.2.2.1.1

            Saying this other countries have mandatory redundancy protection which we could look at. Its not the same thing as Kiwisaver though and you need to look at whether you would really want it in the same scheme together.

  12. Rob 12

    My first two would actually be tax increases:
    1. Introduce Capital Gains at an initially low level and use this funding for point 6
    2. Restore the top tax rate although perhaps to a higher amount say 45% at a much higher level to ensure the government can fund all it needs to and discourage businesses paying high salaries for no reason siphoning money out of our business economy for private spending
    3. Compulsory Kiwisaver to require all people to save for their future
    4. Restart Cullen Fund contributions to make the system less cost intensive later
    5. Reduce the levels of tax on interest of savings to encourage it
    6. Have the government directly invest in the expansion of industry in non-traditional fields (e.g. Kiwibank) to allow them to grow in a more productive manner for NZ. This should in the long term grow the private economy
    7. Encourage local consumption and use of services to grow the domestic economy and reduce spending on imports which sends money out of NZ
    8. Put more effort into increasing tourism to bring more money here
    9. Raise the age of superannuation or move to a requirement of no longer being able to work full time post 65 rather than an automatic entitlement to reduce the cost of the system on government and allow us to maintain a larger active workforce
    10. Make all tertiary education work on a free but bonded system so the only people who gain personal debt for it are those who leave the country after getting their degree

    • insider 12.1

      Some things to think about.

      5. Reduce the levels of tax on interest of savings to encourage it

      Most people’s savings are in their houses but you want to tax them. Why reward the cash rich and penalise those saving in other ways? Isn’t a better way to even out the discrepencies so that no model is favoured so that savings are diverse.

      7. Encourage local consumption and use of services to grow the domestic economy and reduce spending on imports which sends money out of NZ

      Some imports actually reduce our costs. Oil’s a good example. We export high quality $100bbl oil and import lower quality $80 oil. Your system would encourage a national budget loss of $20 (not real numbers just for example)

      8. Put more effort into increasing tourism to bring more money here

      I’d rather put that money into something that earns a lot more and employs people that earn a lot more, eg export of professional services and high value manufactured goods

      10 – Make all tertiary education work on a free but bonded system so the only people who gain personal debt for it are those who leave the country after getting their degree

      How well are we able to pursue those people? Why not just make it free and avoid all the compliance costs? People will go overseas as they have done for generations.

      • Rob 12.1.1

        Good points.

        5. I want to tax houses because prices are going out of control leading to people getting unaffordable mortgages which creates more debt also a capital gains tax would not be a cost to home owners unless they move which they don’t necessarily have to.

        7. That’s because using higher grade goods for a lower grade purpose is a waste of money as with your oil example. At any rate an encouragement to shop locally would for the great majority of sales only affect things like food, clothes and cleaning products which we are perfectly capable of producing for ourself cheaper. Also for such a comparison for what we lose by spending locally is the production cost vs the full retail price of an import minus its taxes rather than simply comparing market value for market value.

        8. That’s fair enough, I would be keen to support those industries too however they are a lot more complex for us to support.

        10. We have extradition treaties with most major economies if people don’t pay while overseas our friendly countries will assist us. If they run off to a random third world country then yes we may have difficulties but the likelihood is they will go to the USA, Australia or the UK. We invest a significant amount of wealth in training people for the New Zealand workforce up till they finish school/university when they go overseas we lose that investment. We spend 18-21 years supporting a dependent to have no capital return from it which is quite simply a bad investment. We should hope to discourage people leaving before they have contributed back an equivalent amount to what we spent on them if we want to build our own economy rather than other peoples.

        • insider 12.1.1.1

          Rob

          5 . are you, me or anyone else able to judge what is and isn’t an appropriate price? As you say people don’t have to move so will be self regulating. Sounds like you want to save people from themselves but maybe they don’t need it. CGT should be on everything relevant not just houses. Otherwise it will distort decision making.

          7. What I meant is that we have some natural advantages and should exploit them. We produce some products that have a high value elsewhere but can be substituted adequately by lower cost products. Why not exploit that opportunity? A focus on local may not be best for the economy.

          10 – I know we have treaties but I wonder how successful they actually are and how much it costs to administer. We also gain from a lot of immigrants with similar or better skills. So it is a trade, and I’d rather their earnings stayed here than were repatriated as loan payments to their home countries.

          • Rob 12.1.1.1.1

            5. Houses are not at an appropriate price in my mind because right now they are over 11 times the average wage when they used to be around 3.5 times it only a few decades ago which indicates the price is around 3 times higher than it should naturally be. Houses should not be used by people as an investment they are something critical to life and rent and houses right now are simply too high in price which creates debt issues. What I mean by people don’t have to move is the fact that there is only cost to people using housing as an investment which is how it should be. I don’t see how it would distort decision making.

            7. I agree we have some natural advantages. These are however a very small part of our economy in general a countries advantages in producing goods comes merely from the fact they invest in infrastructure for them which is what we should be doing rather than important goods. There is for example only one NZ tinned fruit company left which last I heard was planning to close down, you cannot tell me that other countries can tin fruit that much better than us. It is due to market distortions created by wage differences and we should not allow the fact that it is cheaper for the company to allow our economy to shift to a system that is more expensive for the country.

            10. They seem to work fine under the current loan scheme which has a lot of people overseas. We get a lot of that money back. Yes we do get immigrants coming in with high skills too and it could be considered a trade but we want the best deal for ourselves which is maximum number of NZers staying and maximum number of immigrants with skills/cash coming in. As much as you may like immigrants from other countries to not have student debt the fact is they have more expensive university systems than us and that will be happening regardless of what we do to our university system.

      • SPC 12.1.2

        It’s simple enough to enact a CGT that excluded the first $500,000 of occupied primary residence housing – it only takes so much saving to own a 1/4 acre house for a family.

        And it is not right that the component of interest income required to maintain the value of saving (index to inflation) should be taxed.

        • insider 12.1.2.1

          Why is it not right? Shares and dividends go up and down in value but there is no issue of fairness in that, so does property. All are forms of savings. Why is cash somehow different?

          • Rob 12.1.2.1.1

            Bank interest is an encouragement to save rather than invest. Investing carries with it risk people will lose all their money as in the share market.

            • insider 12.1.2.1.1.1

              I’d have thought interest was quite literally a capital gain on an investment. Are you saying there was no risk for all those people that put their savings into interest bearing deposits with the 55 or so finance companies that failed in recent years? ever heard of the BNZ failure of 1990s? Banks have risks attached to them too, in case you hadn’t noticed.

              • SPC

                There is only a capital gain on any investment if it rises in value faster than inflation.

                As for whether saving is an investment, put it this way – banks make their money borrowing money cheap and lending money more expensively. Are they being taxed on their profit doing this, or on their capital gains – capital losses?

                • Colonial Viper

                  Well they are doing it for profit so yeah they are taxed as a company operating for profit.

                  i.e.

                  You can do up and flip houses, sell shares, speculate on the financial markets or serve ice cream cones. If you do it for a business you are taxed as a business.

                • insider

                  SPC

                  My point is interest bearing bank accounts do not merit special tax treatment compared to any other form of income, but that cuts both ways. Currently I suspect it is overtaxed as I’m not aware of the ability to offset costs against the interest gained – instead it is treated as profit. eg companies get taxed on profit not revenue.

                  Rob thinks that interest from savings accounts are special and need different treatment. I can’t understand why compared to money ‘saved’ in a pension fund or other form of appreciating asset. It’s all money and all designed to get some form of return.

                  • Colonial Viper

                    If the country evaluates a fiscal need to increase its domestic savings rate, making bank deposits more attractive – however it is done – is required. That form of savings should be encouraged above and beyond more speculative forms (property developments, finance companies leveraging property developments, etc).

                    A negative or near zero savings rate implies a lot of negative consequences for a country, not least a deteriorating balance of payments, dollar strength hurting our exporters, reliance on interest bearing foreign loans, and encouragement of unsustainable consumerism.

                    I can’t understand why compared to money ‘saved’ in a pension fund or other form of appreciating asset.

                    You mean a pension fund which invests in a hedge fund which invests in AAA rated subprime mortgage based securities?

                    We should not forget so quickly that bond market speculators used peoples pension funds in their games and trashed the retirement of so many people.

                    Literally millions of people in the US now have to keep working or live in near poverty because the twin nest eggs they thought they had (the value of their property and their pension funds) both collapsed around the same time by upwards of 30%.

                    That is why bank deposits have always been regarded as valuable. (And why govt guarantees on more risky forms of investments quite inappropriate).

                • Draco T Bastard

                  As for whether saving is an investment, put it this way – banks make their money borrowing money cheap and lending money more expensively.

                  Actually, banks make their profit by printing money and loaning that out at interest. There’s no way that the amount they have on deposit could return the amount of profit they make.

            • SPC 12.1.2.1.1.2

              Saving funds borrowing from banks for business investment (or investment to own a home).

          • SPC 12.1.2.1.2

            Because insider, when the value of shares and property rises there is no tax applied as there is with the inflation component in the tax on interest income (not until there is a CGT). So equivalence requires a change.

            If there was a CGT, there would not be a problem with a tax on all the interest income. But if asset values were not adjusted for inflation, a CGT could be unfair, thus there is a need for inflation proofing of assets and cash savings before tax is liable under such a reformed system. And only a reformed system provides the revenue to reduce interest income tax revenue.

            A CGT by nature includes all assets excepting those exempted (which usually involves the family home up to a certain value).

            A CGT should allow inflation proofing of the asset over the time it was held before sale – thus say a rental property bought for $100,000 and sold for $500,000 ($1M and $5M for a farm) – if the asset was held for some time, then the value would adjust by inflation and thus reduce the amount of CG assessed for tax purposes. Another variable would be capital improvements (increasing the asset inflation proof cost before the CG was determined).

            Generally businesses either pay CG taxes in their company tax and or the shareholders reap the increased share value resulting from rise in asset values – and the CG would be paid here by the people owning the shares (and receiving the dividends). Imputation etc complicates matters a little – but if shareholders can adjust their CG liability for the inflation component there is no need to do so for dividends.

          • Colonial Viper 12.1.2.1.3

            !

            Putting money into a third or fourth house within a year or two is not savings. You are now investing-speculating (depending on how aggressive your posture is on the activity).

            It is also a form of investing-speculating which is usually leveraged i.e. it requires people to take a mortgage, go into debt, and encourages banks to use hot liquid capital from overseas to fund that mortgage. These increase the fragility of our economic system (when we must make it more resilient) and the latter risks the refueling of an asset bubble.

            So one reason we must stop viewing property as a form of savings is simple: the first move that most people make when buying even their first home is getting into debt up to their eye balls. So what kind of saving scheme is that? Unless property values are rocketing up, all you end up doing is making a loss through interest payments and sending that extra money to Australian banking shareholders.

            LAB has a clear policy stance on this IMO – capital has got to be taken out of the property asset sector. NZ cannot keep pouring its capital into property, and there must be no more property bubbles.

            The upshot of this is that property values will fall/stagnate as capital gets relocated into factories, labs and tech houses.

  13. ianmac 13

    I suppose Fran must get credit for producing a plan given that even she believes “……….the National-led Government seems asleep at the wheel.”
    Grounds for discussion anyway. Forgotten how some of her ideas would match up with the Greens’ plan.

    • insider 13.1

      Was it a plan or just an end of year hotch potch of issues and knee jerks? Is getting rid of MED really a key issue to dealing with debt up there with CGT? Sounds like a few personal gripes were chucked in for the hell of it.

  14. felix 14

    What is it with these fucking tories and raising taxes? They’ve just raised GST to 15% and they’re already talking about 20%.

    Bunch of lying scheming scumbags.

    • Lanthanide 14.1

      I have no problem with raising GST, like Marty iff low-end tax rates are lowered and high-end ones are kept the same.

      • felix 14.1.1

        Forgive me if I seem sceptical about the Key/Hide govt actually doing that to the advantage of poor people Lanth.

        • Rosy 14.1.1.1

          I have a problem with it – because GST appears to be sticky in a downward direction whereas income tax doesn’t seem to have that problem. Lobbying will mean the top-end rates will overtime be lowered to meet the low-end ones. So a regressive taxation regime over a slightly longer period of time.

  15. Well of corse the tax system needs overhauling. High tax for the rich and lower for the less well of and poor.
    However there are other ways of getting money for health and education ;the two main reasons for taxes.
    I would nationalize the casinos .Its disgusting that all or most of our casinos are overseas owned or privately owned.Let the state own and run them with some imput from local bodies. \The Lotto raffle and the other lotto related raffles to be state owned.Pay a decent win but lets channel the profits to education and health.
    What about the slot machines .Let them be run by the local bodies to help pay for well worth projects .
    I know that if we did this the religious and the moral would oppose such a move .My answer to them is how would they raise the money needed to run a democratic fair country. The various tax sytems cerainly need overhauling and tax evasion should be stamped upon .
    Finaly may I say I realise there are downfalls to gambling but man has gambled since the begining of time .

Links to post

Recent Comments

Recent Posts

  • Rāhui day 3
    I’m here in lockdown with my flatmate and her two girls (6 and 2) and it. is. a time. They’re usually really active so to start with the only boardgame in the house is the copy of Guess Who that the 6 year old got for her birthday. Flatmate commented ...
    The little pakehaBy chrismiller
    4 hours ago
  • A test of civil society.
    The CV-19 (COVID) pandemic has seen the imposition of a government ordered national quarantine and the promulgation of a series of measures designed to spread the burden of pain and soften the economic blow on the most strategically important and most vulnerable sectors of society. The national narrative is framed ...
    KiwipoliticoBy Pablo
    9 hours ago
  • Life in Lock Down: Day 2
    . . Lock Down: Day 2 – A photo essay with observations . March 27 – Day 2 of our Strange New World. The Park and Ride near my suburb, usually filled with hundreds of vehicles, had just… four; . . Another drive into Wellington City on a highway nearly ...
    Frankly SpeakingBy Frank Macskasy
    13 hours ago
  • How Do You Feel? What Do You Think?
    Fortune's Children: Under extraordinary pressure, the leader of the Government and the leader of the Opposition will each show us what they are made of. Have they been blessed with intelligence, grace, wit, poise, toughness, empathy and humour – and in what measure? More importantly, to what extent have they ...
    14 hours ago
  • Landlords are NOT an essential service
    If you’ve ever had the misfortune of having to rent a property on the open market in New Zealand, which is one of the most expensive in the entire world, you’ll likely be keenly aware of just how arrogant and entitled landlords and their real estate agents can be.Unfortunately for ...
    17 hours ago
  • A “new Society” post-COVID19 will definitely emerge. The question is: on what path?
    Society-wise, aside from the specific morbidity shall we say of the medically-oriented aspects of this COVID-19 crisis, what is unfolding before the world is in more than one way an instructive study of humanity and reactions to a high intensity, high stress environment in real time. Friends, we are at ...
    exhALANtBy exhalantblog
    1 day ago
  • Raise the Bar: Everything you need to know about the wage subsidy
    Right now low waged and insecure workers are feeling the economic brunt of the looming #Covid19 Recession. In response legal advocate Toby Cooper* and hospitality and worker’s rights advocate Chloe Ann-King, are putting together a series of legal blogs about your employment rights: In this legal blog we outline some ...
    PosseBy chloeanneking
    1 day ago
  • The massacre of prisoners in Modelo jail, Bogota, March 21
    by Equipo Jurídico Pueblos and Gearóid Ó Loingsigh (25/03/2020) An escape plan in question On the night of March 21st and the early morning of the 22nd, the forces of the Colombian state stormed into the Modelo prison in Bogotá, murdering 23 prisoners and injuring 83, in response to the ...
    RedlineBy Admin
    1 day ago
  • We are not America
    When the government banned semi-automatic weapons in response to a terrorist atrocity, gun-nuts were outraged. Mired in toxic American gun culture, they thought owning weapons whose sole purpose was killing people was some sort of "constitutional right", a necessity for "defending themselves" against the government. Now, the Court of Appeal ...
    No Right TurnBy Idiot/Savant
    1 day ago
  • When will we know the lockdown is working?
    Just before midnight on Wednesday March 25, Aotearoa New Zealand entered a countrywide alert level four lockdown. For at least the next four weeks, everyone who isn’t an essential worker is confined to their bubble. We are doing this to stop the explosive growth in people contracting and dying from ...
    SciBlogsBy Siouxsie Wiles
    1 day ago
  • Lock Down: Day 1
    . . Lock Down: Day 1 – A photo essay with observations . Day one of the Level 4 nationwide lock-down (or, DefCon 4 as I sometimes cheekily call it) started at 11.59PM on 25 March. For a moment, most of the nation held it’s collective breath. In that brief ...
    Frankly SpeakingBy Frank Macskasy
    2 days ago
  • A Compelling Recollection.
    Broad, Sunlit Uplands: How those words fired my young imagination! Or, perhaps, it is more accurate to say: how those words fused, in my young mind, with the image printed on every packet of Fielder’s Cornflour. Always fascinated by history, especially modern history, I cannot hear Churchill’s wonderfully evocative words, even ...
    2 days ago
  • The Warehouse – where everyone gets a virus
    . . 24 March 2020 9.46AM Number of covid19 cases in Aotearoa New Zealand: 102 . As of 11.59 on Thursday, most of New Zealand will go into “lock down”. People will be expected not to travel to work; not to socialise; and to stay home. I will not be ...
    Frankly SpeakingBy Frank Macskasy
    2 days ago
  • After the Pandemic
    It will pass. What happens next? Not immediately, but longer term. There are many opinions, fewer certainties. Will it “change everything!” as many confidently, and contradictorily predict? In this post I look at how foresight can help bound some of the uncertainties so you can more objectively consider the future. ...
    SciBlogsBy Robert Hickson
    2 days ago
  • Coronavirus – Cuba shows the way
    We’ve been meaning t write something on Cuba and the coronavirus but have just discovered a very good article on the subject in the US left publication Jacobin.  The article looks at how Cuba, a poor country but one where capitalism has been done away with, is leading the way ...
    RedlineBy Admin
    2 days ago
  • Using privacy law to prevent the death penalty
    In 2018, El Shafee Elsheikh and Alexanda Kotey - two British citizens who had purportedly been stripped of their citizenship by the British government - were captured while fighting for Isis in Syria. The British government then conspired to hand them over to the US, and agreed to provide evidence ...
    No Right TurnBy Idiot/Savant
    3 days ago
  • It’s Time For Disaster Socialism.
    Transformers: The disaster of the Great Depression was transformed into a new and fairer society by the democratic socialism of the First Labour Government. The disaster of the Covid-19 Pandemic offers a similar transformative possibility to the Labour-NZ First-Green Government. Seize the time, Jacinda! You will never have a better ...
    3 days ago
  • Skeptical Science New Research for Week #12, 2020
    Tamper with The System? Well, we already are. But there's a difference between accidentally trickling sand into a precision gearbox versus formulating a plan to alter it on the fly with improvements in mind. One action is more or less innocently unscrupulous, the other amenable to earning an easy ...
    3 days ago
  • Avoidable hospitalisations: Helping our health system get through COVID-19
    Associate Prof George Thomson, Louise Delany, Prof Nick Wilson While it is possible that New Zealand can use intense public health controls to eradicate COVID-19 from the country – we must also plan for other scenarios where thousands of New Zealanders are sick – including many urgently hospitalised.1 Better resilience ...
    SciBlogsBy Public Health Expert
    3 days ago
  • Raise the Bar: 10 questions to ask your employer proposing redundancy
    Kia ora my name is Chloe Ann-King* and I am the founder of Raise the Bar, a campaign and non-profit that gives free legal aid, advocacy and tautoko to hospitality workers in Aotearoa. Right now all over our country hospo workers are being fired at will, having shifts cut or being ...
    PosseBy chloeanneking
    3 days ago
  • An equitable way to support business
    The Herald reports that the government is planning to lend billions of dollars to large businesses to keep them operating during the pandemic. As with mortgage relief, this is necessary: we need companies to stay in business, to reduce the economic damage and help things get restarted again when this ...
    No Right TurnBy Idiot/Savant
    4 days ago
  • Hard News: Together Alone
    We're about to do something unprecedented as a nation. We hope that by taking this extraordinary action before a single life in New Zealand has been lost to the deadly novel virus we will save tens of thousands of lives. Our  lives. We'll do it together, in households, in isolation ...
    4 days ago
  • Why timing is everything: ‘A time to refrain from embracing’ starts today
    “There is a time for everything,    and a season for every activity under the heavens.”So writes the author of Ecclesiastes, a book in the Old Testament that’s counted as a ‘wisdom’ book and written as if by an unnamed king of Jerusalem. But who would have thought there would be a time ...
    PunditBy Tim Watkin
    4 days ago
  • Dealing with the Covid-19 Tsunami.
    I was surprised when the prime minister described the Economic Response to Covid-19 package as the ‘largest peacetime government spend in New Zealand's history’. Reflecting – checking through history – I realised that the term ‘spend’ was crucial and the package had no income tax cuts. Even so, it has ...
    PunditBy Brian Easton
    4 days ago
  • What about renters?
    The government today announced the latest part of its pandemic relief package: a six-month mortgage holiday for people whose incomes have been affected by the pandemic. Which is great, because these people are going to need help, and that's what the government should be doing. At the same time, it ...
    No Right TurnBy Idiot/Savant
    4 days ago
  • Living within our means.
    Years ago the Argentine sociologist Carlos Weisman wrote a book titled “Living within our Means.” It was a critique of Argentine society that focused on the paradoxical question of why, in a land of plenty, there was so much economic instability, inequality, corruption and political turmoil. His conclusion was basically ...
    KiwipoliticoBy Pablo
    4 days ago
  • Transparency and the pandemic
    Parliament will be leading by example and adjourning tomorrow after a special sitting to consider an epidemic notice and state of emergency. Day-to-day oversight of the government will be delegated to a select committee. But that's not the only overight mechanism. The OIA will still be law, and (so far) ...
    No Right TurnBy Idiot/Savant
    4 days ago
  • ‘Overjoyed’: a leading health expert on New Zealand’s coronavirus shutdown, and the challengin...
    Michael Baker, University of Otago Overjoyed. That’s not a word epidemiologists normally use, but that’s how I felt after hearing Prime Minister Jacinda Ardern’s announcement about New Zealand’s COVID-19 shutdown of everything except essential services for at least four weeks from midnight on Wednesday. More than anything, I just ...
    SciBlogsBy Public Health Expert
    4 days ago
  • One way to solve the housing crisis
    How much homelessness is caused by house hoarding? We're about to find out. The pandemic has destroyed tourism, which means that house hoarders who put their hoarded properties up as short-term tourist rentals are now offering them on the ordinary rental market:Property investors are pulling properties from Airbnb to offer ...
    No Right TurnBy Idiot/Savant
    5 days ago
  • The pros and cons of planting trees to address global warming
    This is a re-post from Yale Climate Connections by Bruce Lieberman It seems like such a simple, straightforward, empowering idea: plant trees – a lot of trees – all over the world, and watch the planet’s temperature fall. Who doesn’t love a tree or two, even far more – the right ...
    5 days ago
  • Not a grand coalition, but a government of national salvation
    According to Newshub, Simon Bridges is open to joining a “grand coalition” with Labour as we hunker down to go into a month long lockdown. The idea is sound. Before now, the role of the opposition was to scrutinise and oppose. In the context of what almost amounts to a ...
    PunditBy Liam Hehir
    5 days ago
  • Raise the Bar: hospitality workers & wage subsidy entitlements
    Kia ora my name is Chloe Ann-King* and I am the founder of Raise the Bar, a campaign and non-profit that gives free legal aid, advocacy and tautoko to hospitality workers in Aotearoa. Right now all over our country hospo workers are being fired at will, having shifts cut or ...
    PosseBy chloeanneking
    5 days ago
  • Lifting our game against COVID-19
    We need to be lifting our game against COVID-19. You and I need to help those working to prevent the spread of COVID-19 while they’re trying to lift the testing and treatment efforts. We don’t want to be playing this game running backwards. Best to play it solidly forward, from ...
    SciBlogsBy Grant Jacobs
    5 days ago
  • The maths and ethics of minimising COVID-19 deaths in NZ
    Prof Tony Blakely, Prof Michael Baker, and Prof Nick Wilson The NZ Government must do more to clearly articulate its COVID-19 strategy: eradication or ‘flattening the curve’ mitigation. But to do so means understanding the maths and ethics of both these strategies. In this blog, we adapt our work for ...
    SciBlogsBy Public Health Expert
    5 days ago
  • All aboard the Covid Train
    A few days ago I was starting to write something about the pandemic, which now seems unconscionable. It took the form of a letter to an agony aunt:“Dear Deidre, I have an ugly confession. I am quite excited by Covid-19.”This is how the piece went:“I’m not a psychopath, honest. Although the ...
    PunditBy Phil Vine
    5 days ago
  • 2020 SkS Weekly Climate Change & Global Warming Digest #12
    Story of the Week... Toon of the Week... Climate Feedback Article Review... Coming Soon on SkS... Climate Feedback Claim Reviews... SkS Week in Review... Poster of the Week... Story of the Week... In Just 10 Years, Warming Has Increased the Odds of Disasters The likelihood of extreme events ...
    6 days ago
  • We are all socialists now
    Last week, the government announced a $12 billion initial package to support people during the pandemic. Today, the Reserve Bank is buying government bonds - effectively printing money - to keep up the money supply during the crisis. Normally such moves would have the right apoplectic. Instead, the National Party ...
    No Right TurnBy Idiot/Savant
    6 days ago
  • A plea to experts: safeguard your role in public life
    I am a pundit, somebody who opines and comments on the news. There are no real qualifications to punditry though having a rudimentary way with words and good general knowledge helps. That is one reason there is a constant oversupply of would-be pundits and why it is quite hard to ...
    PunditBy Liam Hehir
    6 days ago
  • Enlightenment when?
    I recently encountered the following prescription from a Faculty of Education at a leading New Zealand University. At first I wondered if it was another product of the postmodern generator (http://www.elsewhere.org/journal/pomo/), designed to create gibberish in the postmodern form, but I’m told it is real: The “schooled” society: Towards the ...
    SciBlogsBy Michael Corballis
    6 days ago
  • What the Crisis Can teach Us
    The coronavirus pandemic has of course had a major impact on individual lives and on societies as a whole. But, long after the crisis has passed (assuming it does), we will begin to realise that its real and lasting significance lies in the lessons it has taught us, if only ...
    Bryan GouldBy Bryan Gould
    7 days ago
  • Hammering home measures to stop COVID-19
    COVID-19 has plunged Aotearoa New Zealand (indeed, the world) into territory that, while maybe not totally unprecedented, certainly hasn’t been seen during the lifetimes of most of us here today. Our borders are closed to non-citizens, we’re being told not to gather in groups of more than 500 outside/100 inside, ...
    PunditBy Andrew Geddis
    7 days ago
  • What does ‘level two’ mean – and why does it matter?
    For the last few weeks, I’ve been urging you to prepare yourself, your family, business, and community for Covid-19. Now it’s time for real action.  Yesterday the director-general of health Dr Ashley Bloomfield announced another 13 confirmed cases of Covid-19 in New Zealand, bringing our total to date to 52. ...
    SciBlogsBy Siouxsie Wiles
    7 days ago
  • 2020 SkS Weekly Climate Change & Global Warming News Roundup #12
    A chronological listing of news articles linked to on the Skeptical Science Facebook Page during the past week, i.e., Sun, Mar 15, 2020 through Sat, Mar 21, 2020 Editor's Pick Now Isn’t the Time to Forget About Our Climate Change Efforts   Tasha Tilberg, Lindsey Wixson, and Liu Wen photographed ...
    7 days ago
  • Is the Guardian becoming  a real newspaper again?
    by Jan Rivers The article has been corrected to show that it was Ewen MacAskill, former Guardian journalist and not Luke Harding who travelled to meet Edward Snowden with journalist Glenn Greenwald and filmmaker Laura Poitras.  Some of the Guardian’s well-known journalists who did not sign the protest letter are ...
    RedlineBy Daphna
    1 week ago
  • Life asserts itself regardless
    by Cultural Worker Late March 2020 amidst the virus. With gigs crashing and burning all around it was without much hope that I called a long standing rest home booking: “ Hi, I’m supposed to be entertaining at your place this afternoon – is it still on?” “”If you don’t ...
    RedlineBy Daphna
    1 week ago
  • Politics, the possible, and the pandemic
    Whenever people demand real change from their politicians, we're told that "politics is the art of the possible". The implication is that change isn't possible, so we'd better just get used to the sucky status quo. But now that there's a pandemic, a lot of things we were previously told ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • The Only Way Through This Crisis Is Together.
    Together: In leading New Zealand through the Covid-19 Pandemic, the Prime Minister could do a lot worse than allow herself to be guided by the spirit of collective sacrifice and co-operation that animated the New Zealanders of 80 years ago. Most Kiwis alive today have had no opportunity to prove their ...
    1 week ago
  • GFC vs Covid-19
    It is said that generals fight the last war. In the case of the early stages of the Global Financial Crisis (GFC) they had learned from the Great Depression of the 1930s and they fought intelligently and successfully. Later their advice would be ignored in favour of the Austerians who ...
    PunditBy Brian Easton
    1 week ago
  • Nobody Left Behind.
    Solidarity Forever: All over the world, the arrival of the Covid-19 virus has exposed the fragility of the walls we erect around ourselves and our loved ones. It has shattered our illusions of autonomy and revealed to us how utterly dependent we all are on other human-beings. Finally, we see ...
    1 week ago
  • Rebuilding a truly “Democratic” counter, or a “moderate Republican” bolt-hol...
    Looking across the various arguments for/against the leading candidates to take the Democratic Nomination, you might honestly be very hard pressed to tell. There are a number of things that have now started happening since Amy Klobuchar and “Mayor Pete” Buttigieg both threw the towel in and immediately (and ...
    exhALANtBy exhalantblog
    1 week ago
  • Abortion law reform a win for women
    by Daphna Whitmore Abortion is no longer in the Crimes Act in New Zealand. The law reform passed yesterday and now abortion is a medical matter between a woman and her doctor. Many women’s groups and progressive people have campaigned for reform for decades. The women’s liberation movement and some ...
    RedlineBy Daphna
    1 week ago
  • How to spot bogus science stories and read the news like a scientist
    Doug Specht, University of Westminster and Julio Gimenez, University of Westminster When fake news, misreporting and alternative facts are everywhere, reading the news can be a challenge. Not only is there plenty of misinformation about the coronavirus pandemic, climate change and other scientific topics floating around social media, you also ...
    SciBlogsBy Guest Author
    1 week ago
  • Why New Zealand needs to continue decisive action to contain coronavirus
    Michael Baker, University of Otago and Nick Wilson, University of Otago With some of the toughest border restrictions and a newly-announced NZ$500 million boost to health services, New Zealand is among a small number of countries with a strategy to contain the COVID-19 pandemic. New Zealand is also fortunate in ...
    SciBlogsBy Public Health Expert
    1 week ago
  • Parliament and the pandemic II
    As expected, the government has introduced a sessional order to allow Parliament to operate during the pandemic. You can read it on the Order Paper here, but the short version is that questions and motions can be filed electronicly, select committees can work remotely, and the the Business Committee can ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • When a virus goes viral: pros and cons to the coronavirus spread on social media
    Axel Bruns, Queensland University of Technology; Daniel Angus, Queensland University of Technology; Timothy Graham, Queensland University of Technology, and Tobias R. Keller, Queensland University of Technology News and views about coronavirus has spread via social media in a way that no health emergency has done before. Platforms like Twitter, Facebook, ...
    SciBlogsBy Guest Author
    1 week ago
  • How to survive 14 days of self-isolation
    So you’ve recently returned from overseas, come into contact with someone who tested positive, got a bit of a dry cough yourself or perhaps just want to self isolate for 14 days to avoid other people who might have COVID-19. Here are a few tips and tricks to help get ...
    1 week ago
  • Abortion Legislation Bill passes third reading
    Some fave speeches:     ...
    Boots TheoryBy Stephanie Rodgers
    1 week ago
  • Why Leadership Matters – More Than Anything.
    Our Good Fortune: Precisely because she has never been an ideologue (she calls herself a “pragmatic idealist”) Jacinda Ardern has a political nimbleness and spontaneity which, when infused with her exceptional emotional intelligence, produces spectacular demonstrations of leadership. Jacinda's empathic political personality contrasts sharply with the less-than-sunny ways of her ...
    1 week ago
  • Skeptical Science New Research for Week #11, 2020
    1 week ago
  • 68-51
    The Abortion Legislation Bill has just passed its third reading, 68-51. NZ First MPs bailed because their referendum amendment didn't pass, but there were plenty of MPs to provide a majority without them. The bill is a long way from perfect - most significantly, it subjects pregnant people who need ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • The ‘herd immunity’ route to fighting coronavirus is unethical and potentially dangerous
    As most of the world tries to suppress the coronavirus spread, some countries are going it alone – trying to manage the pandemic through so-called “herd immunity”. Herd immunity means letting a large number of people catch a disease, and hence develop immunity to it, to stop the virus spreading. ...
    SciBlogsBy Guest Author
    1 week ago
  • Eight new COVID-19 cases today. It’s no surprise when you look at some numbers
    So, as I sit at home with a very, very slight headache (i.e. not at work when I would otherwise be so), the now familiar figure of Ashley Bloomfield reports eight new confirmed cases of COVID-19  including two in Waikato. A surprise, given that we had just twelve yesterday? No. ...
    SciBlogsBy Marcus Wilson
    1 week ago
  • The WINZ Paradox versus the new COVID-19 Reality: Get real people, seriously…
    Many who advocated for, and voted for, the current Coalition – particularly those who voted Labour and the Green Party – expected to see a sea change in the reality of social services. A real, deep change of attitude, approach of process through which the system negotiates the difficult and ...
    exhALANtBy exhalantblog
    1 week ago
  • The Air New Zealand bailout
    Stuff reports that the government is going to have to throw $2 - 3 billion at Air new Zealand to get it through the pandemic. Good. While international routes are basicly closed, Air New Zealand is a strategic asset which is vital to our tourism industry, not to mentioning airfreight. ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • Why NZ’s tough coronavirus travel rules are crucial to protecting lives at home and across the Pac...
    New Zealand’s border restrictions will come with significant job and business losses in the tourism sector, both at home and in the Pacific. But the new travel rules are absolutely necessary to protect the health of New Zealanders and people right across Pacific Islands, because New Zealand is a gateway ...
    SciBlogsBy Guest Author
    1 week ago
  • The tiniest of teeth
    Back in early 2018, as a shoddy legal tactic to try and avoid the prisoner voting ban being formally declared inconsistent with the BORA by the Supreme Court, Justice Minister Andrew Little floated the idea of greater legal protection for human rights. When the Supreme Court case didn't go the ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • One simple, common factor to success against COVID-19
    Professor Philip Hill and Associate Professor James Ussher Most infectious diseases have an Achilles heel, the secret is to find it. The question is if we don’t have a drug or a vaccine for COVID-19, is there something else we can do to beat it? Some people estimate that, without ...
    SciBlogsBy Guest Author
    1 week ago
  • National should isolate Simon Bridges
    The Coalition Governments $12.1 billion economic package to help combat the financial effects of COVID-19 was generally well received across the board, even amongst many business leaders who would normally be critical of a Labour led Government.However there was one glaringly obvious exception, Simon Bridges. The so-called leader of the ...
    2 weeks ago
  • How testing for Covid-19 works
    With confirmed cases of Covid-19 in New Zealand up to 12, many influential people are writing open letters and opinion pieces and doing press conferences asking why we aren’t pulling out all the stops and testing thousands of people a day like they are in South Korea. The thing is, ...
    SciBlogsBy Siouxsie Wiles
    2 weeks ago
  • The COVID-19 package and the limits of capitalism
    by Daphna Whitmore The willingness to put human life before business shows that sometimes capitalism is capable of suspending its relentless drive for profit. For a short time it can behave differently. Flatten the curve is the public health message since COVID-19 suddenly overwhelmed the hospital system in northern Italy. ...
    RedlineBy Daphna
    2 weeks ago
  • Black April, May and June?
    Worldwide, the 1918 influenza epidemic – wrongly called ‘Spanish’ flu – lasted about two years. However, it lasted about six weeks in New Zealand (remembered as ‘Black November’, because the dead turned a purplish-black). It is thought about 7000 Pakeha died and 2,500 Maori. The population mortality rate was about ...
    PunditBy Brian Easton
    2 weeks ago
  • COVID 19 has struck… as has a lot of terrible ineptitude from far too many
    In a world and a time when the worst off and most vulnerable have been asked, time and again, to foot the bill for the complete subjugating to the will of the 1% thanks to the GFC, at a point where the world as a whole is now seeing quite ...
    exhALANtBy exhalantblog
    2 weeks ago
  • What’s in the Coronavirus Package?
    With the economy already reeling from a crisis that’s barely begun, the Government today sought to provide reassurance to workers and businesses in the form of a massive phallic pun to insert much-needed cash into the private sector and help fight the looming pandemic. Here are the key components: $5.1 ...
    The CivilianBy admin
    2 weeks ago
  • I just had my benefit suspended during a fucking pandemic
    I am a member of the working poor and so still need state welfare to make rent. So I had booked an appointment for yesterday with my caseworker at Work and Income New Zealand (WINZ) to apply for a transition to work grant. However the current health advice in New ...
    PosseBy chloeanneking
    2 weeks ago
  • A good first step
    Today the government announced a financial package to deal with the effects of the pandemic. So far, it looks good: an initial $500 million for health to deal with immediate priorities, wage subsidies for affected businesses, $585 a week from WINZ for people self-isolating who can't work from home, and ...
    No Right TurnBy Idiot/Savant
    2 weeks ago

  • Week That Was: COVID-19 Alert Level 4
    The COVID-19 situation in New Zealand is moving fast - and to avoid what we've seen overseas - the Government's response must be to move fast too. We're committed to keeping New Zealanders safe and well-informed every step of the way. ...
    11 hours ago
  • SPEECH: Green Party Co-leader James Shaw – Ministerial statement on State of National Emergency an...
    Thank you, Mr. Speaker.  The scale of what we face right now is unlike anything we have ever seen before. Overcoming it is our common purpose. ...
    3 days ago
  • Winston Peters urging New Zealanders overseas to stay put
    Foreign Minister Winston Peters is encouraging New Zealanders overseas to stay where they are amid the COVID-19 pandemic. "We are reaching a point where the best option for most New Zealanders offshore is to shelter in place, by preparing to safely stay where they are.” "This includes following the instructions ...
    4 days ago
  • New Zealanders overseas encouraged to shelter in place
    Rt. Hon. Winston Peters, Deputy Prime Minister, Minister of Foreign Affairs Foreign Minister Winston Peters is encouraging the tens of thousands of New Zealanders travelling overseas to consider sheltering in place, in light of COVID-19.  “Since 18 March, we have been warning New Zealanders offshore that the window for flying ...
    4 days ago
  • Ground-breaking abortion law passes, giving NZers compassionate healthcare
    Ground-breaking law has passed that will decriminalise abortion and ensure women and pregnant people seeking abortions have compassionate healthcare. ...
    1 week ago
  • Package supports Kiwis to put collective health first
    The Green Party says that the measures announced by the Government today will help families and businesses to prioritise our collective health and wellbeing in the response to COVID-19. ...
    1 week ago
  • Winston Peters: COVID-19 rescue package ‘more significant’ than any worldwide
    As New Zealanders brace for a global downturn due to Covid-19, Deputy Prime Minister Winston Peters says his Coalition Government’s rescue package "more significant" than any other he's seen around the world. The Coalition is to reveal a multi-billion-dollar stimulus plan on Tuesday afternoon designed to cushion the economic blow ...
    2 weeks ago
  • Our response to COVID-19
    We know some people are feeling anxious about COVID-19. While the situation is serious, New Zealand has a world-class health system and we’re well-prepared to keep New Zealanders safe. ...
    2 weeks ago
  • ‘Demerit Points System’ will address youth crime
    Darroch Ball MP, Spokesperson for Law and Order A New Zealand First member’s bill drawn from the ballot today seeks to overhaul the youth justice system by instigating a system of demerit points for offences committed by young offenders. “The ‘Youth Justice Demerit Point System’ will put an end to ...
    2 weeks ago
  • Investment in kingfish farming
    Hon. Shane Jones, Minister for Regional Economic Development The Provincial Growth Fund is investing $6 million in a land-based aquaculture pilot to see whether yellowtail kingfish can be commercially farmed in Northland, Regional Economic Development Minister Shane Jones announced today. A recirculating land-based aquaculture system will be built and operated ...
    2 weeks ago
  • 1BT grants for Northland planting
    Hon. Shane Jones, Minister for Forestry Forestry Minister Shane Jones has announced two One Billion Trees programme grants of more than $1.18 million to help hapu and iwi in Northland restore whenua and moana. “Many communities around Aotearoa have benefited from One Billion Trees funding since the programme was launched ...
    2 weeks ago
  • New Zealand reaffirms support for Flight MH17 judicial process
    Rt. Hon. Winston Peters, Deputy Prime Minister, Minister of Foreign Affairs Ahead of the start of the criminal trial in the Netherlands on 9 March, Foreign Minister Winston Peters has reaffirmed the need to establish truth, accountability and justice for the downing of Flight MH17 ...
    2 weeks ago
  • PGF investment in green hydrogen
    Rt. Hon. Winston Peters, Deputy Prime Minister The Government is investing $19.9 million through the Provincial Growth Fund in a game-changing hydrogen energy facility in South Taranaki, Deputy Prime Minister Winston Peters announced today. “The development of alternative energy initiatives like this one is vital for the Taranaki region’s economy. ...
    2 weeks ago
  • Coronavirus support for Pacific
    Rt. Hon. Winston Peters, Minister for Foreign Affairs Foreign Affairs Minister Winston Peters says New Zealand is partnering with countries in the Pacific to ensure they are prepared for, and able to respond to the global threat of Coronavirus (COVID-19). “There are currently no confirmed cases of COVID-19 in the ...
    2 weeks ago
  • Green Party passes landmark law to ensure deaf and disabled voices heard equally in democracy
    Chlöe Swarbrick's Members Bill to support disabled general election candidates has passed into law. ...
    2 weeks ago

  • Tariff concessions on COVID-19 related products
    New Zealand will temporarily remove tariffs on all medical and hygiene imports needed for the COVID-19 response. Trade and Export Growth Minister David Parker and Commerce and Consumer Affairs Minister Kris Faafoi said today that the New Zealand Customs Service will apply tariff concessions to all diagnostic reagents and testing ...
    BeehiveBy beehive.govt.nz
    10 hours ago
  • Clarification of modification to wage subsidy scheme
    Minister of Finance Grant Robertson has clarified that the changes to the wage subsidy scheme announced yesterday mean that employers should be passing on the full subsidy to workers, except in the case where the person’s normal income is less than the level of the subsidy. “We still want employers ...
    BeehiveBy beehive.govt.nz
    12 hours ago
  • Face masks flowing to DHBs
    Medical face masks from the national reserve supply are now being distributed to District Health Boards, while at the same time local production is being ramped up. Yesterday more than 640,000 masks were sent to DHBS – that is an immediate two week supply, with more to follow in coming ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • COVID-19: Further steps to protect New Zealanders’ jobs
    The Government has made modifications to the wage subsidy scheme to ensure people don’t lose their jobs during the national lockdown. These changes will soften the impact of COVID-19 on workers, families and businesses, and position them to exit the lockdown and look to recovery, Finance Minister Grant Robertson says. ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Tax relief for Mycoplasma Bovis farmers
    Farmers whose herds were culled in response to the outbreak of Mycoplasma bovis will be able to minimise the tax treatment of their income in some circumstances. Revenue Minister Stuart Nash says Cabinet has agreed to change the law. It means farmers may be eligible to spread their income over ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • $27 million for NGOs and community groups to continue providing essential services
    A $27 million dollar package, effective immediately, is being provided to social sector services and community groups to ensure they can continue to provide essential support to communities as we stay at home as a nation to stop the spread of COVID-19, Minister for Social Development Carmel Sepuloni announced. “At ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Statement on guilty plea of March 15 terrorist
    “The guilty plea today will provide some relief to the many people whose lives were shattered by what happened on March 15,” Prime Minister Jacinda Ardern said. “These guilty pleas and conviction bring accountability for what happened and also save the families who lost loved ones, those who were injured, ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • COVID-19 updates
    The Prime Minister is holding daily press conferences to update New Zealanders on the Government's response to COVID-19. Links to videos and transcripts of these updates below. These transcripts also include All of Government press conferences led by Director Ministry of Health's Director-General of Health Dr Ashley Bloomfield. 25 March: Live update from the Prime ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Police numbers break through 10,000 mark
    Frontline Police numbers have broken through the 10,000 mark for the first time in history as officers step forward to keep the community safe during the COVID19 lockdown. “Two Police graduations in Auckland and Wellington in the past week have been conducted in unprecedented circumstances,” Police Minister Stuart Nash said. ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Urgent tax measures for economic recovery
    Urgent legislation has been passed to support the package of economic and social measures needed to recover from the impact of the coronavirus outbreak. “The COVID-19 Response (Taxation and Social Assistance Urgent Measures) Bill will cushion New Zealanders from the worst economic impacts of the COVID-19 outbreak,” said Revenue Minister ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Further support for farmers and growers as drought persists
    From tomorrow, Government support for farmers and growers affected by drought will be expanded and extended across the country, with access to Rural Assistance Payments (RAPS) available throughout the North Island, parts of the South Island and the Chatham Islands, Social Development Minister Carmel Sepuloni announced. “These challenging conditions have ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • COVID-19: Temporary changes to Education Act
    Parliament has passed amendments to legislation that give the Secretary of Education stronger powers to act in the fight to limit the spread of COVID-19, Education Minister Chris Hipkins said today. “They are part of a suite of changes passed under the COVID-19 Response (Urgent Management Measures) Legislation Bill,” Chris ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Canada, Australia, Chile, Brunei and Myanmar join NZ and Singapore in committing to keeping supply a...
    Canada, Australia, Chile, Brunei and Myanmar have joined forces with New Zealand and Singapore by committing to keep supply chains open and remove any existing trade restrictive measures on essential goods, especially medical supplies, in the face of the Covid-19 crisis.  Trade and Export Growth Minister David Parker today welcomed ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • COVID-19: Rent increase freeze and more protection for tenants
    Immediate freeze on rent increases Tenancies will not be terminated during the lock-down period, unless the parties agree, or in limited circumstances Tenants who had previously given notice can stay in their if they need to stay in the tenancy during the lock-down period Tenants will still be able to ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Working together to protect businesses and workers
    As New Zealand unites to lock-down in the fight against COVID-19, the Finance Minister is urging all businesses and workers to stay connected over the next four weeks. “We understand the extreme pressure many businesses are under right now. I know most business owners think of their workers as family ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • State of National Emergency declared to fight COVID-19
    A State of National Emergency has been declared across the country as the Government pulls out all the stops to curtail the spread of COVID-19. “Today we put in place our country’s second ever State of National Emergency as we fight a global pandemic, save New Zealanders’ lives and prevent ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Prime Minister’s statement on State of National Emergency and Epidemic Notice
    Mr Speaker I wish to make a Ministerial Statement under Standing Order 347 in relation to the recent declaration of a State of National Emergency. Having considered the advice of the Director Civil Defence Emergency Management, the Minister of Civil Defence declared a State of National Emergency for the whole of ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Deadline for domestic travel extended
    People needing to travel on domestic flights, trains and Cook Strait ferries to get home before the country moves into level 4 lock-down tomorrow night will be able to continue using the passenger services until midnight on Friday, Transport Minister Phil Twyford said today. Domestic passenger services, particularly ferries, have ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Mortgage holiday and business finance support schemes to cushion COVID impacts
    The Government, retail banks and the Reserve Bank are today announcing a major financial support package for home owners and businesses affected by the economic impacts of COVID-19. The package will include a six month principal and interest payment holiday for mortgage holders and SME customers whose incomes have been ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Government working to keep air freight moving
    Minister of Transport Phil Twyford has today announced details of the Government’s support package to keep key air freight moving and ensure New Zealanders retain access to essential goods during the four-week level 4 lockdown. “The Government is working with airlines and air freight operators to ensure New Zealand’s key ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • New Zealand moves to COVID-19 Alert Level 3, then Level 4 in 48 hours
    New Zealand moved up to COVID-19 Alert Level 3 – Restrict New Zealand to move up to COVID-19 Alert Level 4 – Eliminate, in 48 hours Two-staged approach to give people and businesses time to prepare  Level 3, from tomorrow Non-essential businesses must close All events and gatherings must be ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Prime Minister: COVID-19 Alert Level increased
    Good afternoon  The Cabinet met this morning to discuss our next actions in the fight against COVID-19.  Like the rest of the world, we are facing the potential for devastating impacts from this virus. But, through decisive action, and through working together, do we have a small window to get ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Govt takes significant economic decisions as NZ readies for Alert Level 4 in COVID-19 fight
    The Government is announcing significant further support for the economy, workers and businesses as the country unites to prepare for Alert Level 4 in the fight against COVID-19. Cabinet today agreed to remove the cap on the Government’s wage subsidy scheme, which will inject a further $4 billion into the ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Govt backs RBNZ move to support economy with lower interest rates
    The Government is backing the Reserve Bank’s latest action to support the economy by reducing longer-term interest rates, meaning lower costs for businesses and mortgage holders, and a lower currency to help our exporters. The Minister of Finance has signed a memorandum of understanding and a letter of indemnity with ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Government statement on commercial cooperation during COVID-19
    The Government has asked the Commerce Commission to take account of the exceptional circumstances created by COVID-19 when monitoring business behaviour in coming weeks.   “The purpose of my request to the Commerce Commission is to make sure businesses can work together in ways that will allow them to provide ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • New Zealand temporarily closes diplomatic posts in Barbados and Myanmar due to COVID-19
    The New Zealand Government has temporarily closed its High Commission in Bridgetown, Barbados and its Embassy in Yangon, Myanmar due to the COVID-19 pandemic, Foreign Minister Winston Peters says.   “Due to the increasing scarcity of air links in and out of Bridgetown and Yangon, and the pressure COVID-19 is placing ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Supporting Māori communities and businesses through
    Associate Health and Whānau Ora Minister Peeni Henare has today announced the Government’s plan to support Māori communities and businesses in the face of COVID-19. “Our Government’s $12.1 billion economic package will help many Māori whānau, workers and businesses, whether it’s through wage subsidies, income support and worker redeployment, or ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Guidelines for hospitality establishments released
    The Government and the hospitality industry have worked together to produce guidelines to assist with managing and reducing transmission of COVID-19, Health Minister David Clark announced today.  The guidelines developed between the Government, Hospitality New Zealand and SkyCity Entertainment Group, set out how the new restrictions on physical distancing and ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Nation steps up to COVID-19 Alert Level 2
    Four stage Alert System for COVID-19 announced New Zealand moved up to COVID-19 Alert Level 2 – Reduce Contact New Zealanders over 70 and those with certain medical conditions told to stay at home as much as they can to reduce risk of contact with the virus Workplaces to implement ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • PM Address – Covid-19 Update
    Kia ora koutou katoa I’m speaking directly to all New Zealanders today to give you as much certainty and clarity as we can as we fight Covid-19. Over the past few weeks, the world has changed. And it has changed very quickly. In February it would have seemed unimaginable to ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • NZ and Singapore commit to keeping supply and trade links open, including on essential goods and med...
    New Zealand and Singapore have jointly committed to keep supply chains open and to remove any existing trade restrictive measures on essential goods, especially medical supplies, in the face of the Covid-19 crisis. Trade and Export Growth Minister David Parker welcomed the commitment. “This is an important collective response, and ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Joint Ministerial Statement by Singapore and New Zealand -Covid-19 situation
    JOINT MINISTERIAL STATEMENT BY SINGAPORE AND NEW ZEALAND AFFIRMING COMMITMENT TO ENSURING SUPPLY CHAIN CONNECTIVITY AMIDST THE COVID-19 SITUATION  The COVID-19 pandemic is a serious global crisis.  As part of our collective response to combat COVID-19, Singapore and New Zealand are committed to maintaining open and connected supply chains. We ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Transit between Australia and New Zealand
    Travel restrictions, closing our border to almost all travelers came into force from 23:59 on Thursday 19 March 2020 (NZDT).  All airlines were informed of these restrictions before they came into force. Immigration Minister Iain Lees-Galloway says “The transit of passengers between Australia and New Zealand has been agreed upon and ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • $100 million to redeploy workers
    The Government has allocated $100 million to help redeploy workers affected by the economic impact of COVID-19, with the hard-hit region of Gisborne-Tairāwhiti to be the first helped, Economic Development Minister Phil Twyford, Forestry and Regional Economic Development Minister Shane Jones and Employment Minister Willie Jackson announced today. Phil Twyford ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • More support for wood processing
    The Provincial Growth Fund (PGF) is ramping up support for Tairāwhiti’s wood processing sector to bolster the region’s economy at a time of heightened uncertainty, Regional Economic Development Minister Shane Jones announced today. Following earlier announcements today of a regional support package for Tairāwhiti, Minister Jones has also announced a ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Govt steps in to protect Air New Zealand
    The Coalition Government has stepped in to protect Air New Zealand with a significant financial deal that protects essential routes and allows the company to keep operating. The Government and Air New Zealand have agreed a debt funding agreement through commercial 24-month loan facilities of up to $900 million*. The ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Stronger border measures to protect NZers from COVID-19
    The Government has taken further measures to protect New Zealanders from the COVID-19 virus, effectively stopping all people from boarding a plane to New Zealand from 11:59pm today, except for returning New Zealanders, Prime Minister Jacinda Ardern announced today.  New Zealanders’ partners, legal guardians or any dependent children travelling with ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Action on indoor gatherings and events to protect public health
    The Government has reinforced its commitment to protecting the health of New Zealanders from COVID-19 through the cancellation of indoor events with more than 100 people.  “Protecting the health of New Zealanders is our number one priority, and that means we need to reduce the risks associated with large gatherings,” ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • New Zealanders advised not to travel overseas
    The New Zealand Government is advising New Zealanders not to travel overseas due to COVID-19, Foreign Minister Winston Peters has announced. “We are raising our travel advice to the highest level: do not travel,” Mr Peters said. “This is the first time the New Zealand Government has advised New Zealanders ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Govt announces aviation relief package
    Transport Minister Phil Twyford today outlined the first tranche of the $600 million aviation sector relief package announced earlier this week as part of the Government’s $12.1 billion COVID-19 economic response. The initial part of the aviation package aims to secure the operators of New Zealand’s aviation security system, and ...
    BeehiveBy beehive.govt.nz
    1 week ago