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The cost of asset sales

Written By: - Date published: 5:29 pm, July 24th, 2012 - 25 comments
Categories: bill english, john key, Privatisation - Tags:

So far…

Looter’s Bonus Loyalty Scheme

$250,000,000-$500,000,000: Treasury
Best guess: $360,000,000: Finance and Expenditure Select Committee
Could be: up to $1,000,000,000
No idea: John Key

Brokerage fees

$90,000,000: $7 million this year, $66 million next, $17 million in 2014
$1,100,000: spent so far
Won’t say: Bill English

Iwi settlements over water rights

(not ownership, because no-one owns water. As ImperatorFish says: “It would be like claiming ownership of a cloud or the air we breathe, or the soil beneath our feet. Who ever heard of such a thing?”)
No idea: any of us, least of all John Key

Advertising / PR

$30,000,000 ($120 million direct costs, minus brokerage fees)
Won’t say: John Key or Bill English

Total: $370,000,000 – $?,???,???,??? – a fair chunk of the $6 billion the government hopes for, even before you add on:

Lost Revenue

$100,000,000 per year: government books worse off according to Treasury

25 comments on “The cost of asset sales”

  1. Ad 1

    Cost to taxpayer of consultancy fees prior to IPO $

    Cost to each citizen of losing 49% of the Mighty River Asset $

    Cost to each citizen of subsidizing all of the costs of the sale $

    Cumulative cost to customers and to New Zealand of probable power increases $

    Opportunity cost to citizens of purchase price (since they already own it) $

  2. tc 2

    Key and cohorts haven’t disappointed me with the ever changing rubbery figures and outright lies but the media need to have a good hard look at themselves as the only ones in a position to show this sham for what it is……rewarding your backers with juicy gold plated investments that belong to every kiwi while playing the value down so your rich mates can pay even less and getting the taxpayer to pick up all the costs.

  3. Carol 3

    And Key had the gall to snearingly criticise Labour and the Greens for pulling numbers out of their a*se with respect to the asset shares bonus scheme:

    http://www.parliament.nz/en-NZ/PB/Business/QOA/8/7/3/50HansQ_20120724_00000002-2-State-owned-Assets-Sales-Loyalty-Bonus.htm

    Rt Hon JOHN KEY: —possible, depending on how it was calculated and by whom. Frankly, what we are seeing in this debate is that Labour and the Greens just make up all sorts of numbers.

    It’s time more Kiwis (including tame journos) woke up to what a cynically nasty piece of work our PM is.

  4. SukieDamson 4

    … the normal economics of maximising economic value is replaced by the topsy-turvy economics of maximising current extractable value which tends to drive the firms economic net worth deeply negative…

    The moral hazard of looting

  5. maffoo 5

    cost of the asset sales

    20000 more kids with cold-related respitory diseases
    20000 more elderly people ending up in hospital because they cant afford to heat & eat on the same day

    the human cost is the real cost…. the poor, sick, & old will die in some caes
    & think, if power costs more, imagine how much more it will costs to run hospitals, schools, police stations, central & local govt buildings, street lighting, traffic signals, security lighting on boatramps, wharfs, and parks…..

  6. Tom Gould 6

    According to Tory lapdog John Hartevelt “Labour’s assault misfired at its first shot, touting a ludicrously inflated and totally unrealistic cost.” Pity the gallery lacks a single brain cell these days, having fallen for the old Key trick of ‘no numbers’ then slamming any other number, even from Treasury, as wrong. And lazy, indolent chooks like Hartevelt fall for it every time.

  7. Tracey 7

    for $350m over the next 3 years we could increase paid parental leave and give more kids a greater start in life, but it’s better that money goes to brokers…

    I have a 70 year old retiree living with me at the moent. He’s in Auckland for ten days doing some work, because his pension isn’t enough. He has bad hips and has had since I have known him (back in 2001 we met). They have got steadily worse. Yesterday he forgot to take his pain medication (that’s right, he can’t get on the waiting list until the pain medication no longer works – that from his specialist and GP). So he walked to the bus stop then did a day’s work, and walked home from the busstop. He could barely walk last night. Getting up out of a seat was extremely painful. So he remembered to take his medication today/ last night, and limped out the door this morning, not in much pain but clearly suffering. He has a beautiful rose garden which he can no longer tend and is largely cooped up inside because getting in and out of his car is painful. He has paid, and still pays tax for over 50 years (starting working in taxed jobs at 15). He’s done his share and can’t afford to buy the shares either.

    But I think a loyalty bonus, PR and brokerage fees is better spent than on more hip replacements or other operations.

  8. Tracey 8

    90m in brokerage fees =

    60,000 laptops in schools @ $1500 ea
    2250 hip replacements @ $40,000 ea
    8 years of paid parental leave
    238 years of self defence for high school girls (“The Girls’ Self Defence Project, which has been running in schools across New Zealand for 15 years, has had a positive impact on the lives of more than 77,000 Kiwi girls,” Jacinda Ardern said.

    “The project has consistently delivered positive results, with over 90% of girls participating saying that they felt stronger, more confident, and more educated in techniques to deal with unsafe situations.)

    and so on…

  9. prism 9

    We’ve talked about price rises for electricity as a result of private enterprise and the expected and demanded profit for supplying this vital necessity. Competition between companies too will have tremendous costs while they compete for brand name recognition and customer numbers.

    On Trademe there is an example of the sort of outrageous advertising to sell us what we are already aware that we need and already buying, from Powerco I think. A reclining devil or vampire has a tube feeding blood into his arm – his fingers flex each time there is a transfusion. This advertising, its design and the cost of placement, is just another of the expenses and flim flam we will get from competing power companies which we will pay for.

    As well there will be big fat payouts to the top people for just continuing supply of what we would have bought anyway. When their daughters marry there will be a big fat wedding paid for out of our pockets, and big fat holidays, and big fat desks and fine furnishings, or austere to show how serious they are, but with furnishings imported from Italy etc. (Italian office furniture was imported by some of the chosen after we restructured government, so that’s not just something from my fertile mind.)

    It’s interesting how mothers and fathers who provide the children that we need to maintain ourselves in all ways, get so little monetary or other recognition and expenses, yet electricity company managers will be gold-plated, when it’s a technical job in the main which should be done by someone with that expertise plus an accountant and small office staff.

  10. Jackal 10

    National devalueing our assets

    John Key is showing his financial illiteracy again, being that a bonus shares scheme would cost between $250 to $500 million according to Treasury, and perhaps even exceed $1 billion. What information Key is basing his assertion on that free shares could be an economic gain for the government has not been made public, probably because it doesn’t exist.

  11. Observer AKL 11

    New Zealanders own these assets. They are about to be taken off the common man and put into the ownership of relatively few wealthy people here and in foreign countries.

    The assets provide power which is a vital basic necessity to every New Zealander. To keep control over costs, and to avoid paying unneeded private shareholders, the common man must retain these vital assets or get them back from the rich.

    It is for this reason the political parties declaring an interest in the common man, must vow to retain the Assets or get them back from the wealthy.

    The day Labour and the Greens make that vow is the day New Zealanders will know that common sense has returned to our Parliament. At the moment, Labour and Greens appear harmless and convictionless. Shams really. They are firmly in the camp of the few wealthy.

    The smaller parties – New Zealand First and Mana – are the only ones taking the vast majority of Kiwis seriously.

    • jack 11.1

      And Winston will do it. That’s why I voted for him in 2011 and why I will vote for him in 2014. I read an article about Key in the Listener… pure puffery.. sounded like a fairy tail compared to what Key is really doing. Shame, the public believe this bullshit.

      • xtasy 11.1.1

        Problem is: Winston is not Owen Glen, who he fell out with, and he certainly has not got that guy’s money, or other money, which would be needed for buying back the assets.

        Labour is totally dodgy on this one too, but at least saying they will not commit to buying shares back, as it may be impossible (due to budgetary restraints).

        The main problem is: English has already SPENT the money that is yet to be earned from the asset sales, so he and Key and the gang already put NZ further into debt, and at the same time want to sell something that is not even “cleared” yet due to legal challenges, due to market risks about the returns to be expected, and due to the costs of seeing all this through now, which vary between a few million and mega millions.

        Has there ever been a more irresponsible, inexpert, dumb and incompetent government in NZ over the last two decades, who announces big plans and sales, but who has not even analysed, planned and accounted for what the process will involve and cost. Is this not idiocy pure? But too many Kiwis sit and watch dumb commercialised TV, surf on the web and “chat” on Facebook, Twit Turf and whatever, rather than THINK and ACT.

        Has all tha education been for nothing, or has education dropped so far, that it has lost all meaning?

        Well, if the ones that should stand up are “overwhelmed”, it seems, they rather pack their bags and move to Aus, same as some young neighbours of mine are doing right now.

    • OneTrack 11.2

      But neither Labour or the Greens are making that commitment. Maybe they have decided that they want the existing capital assets transformed into cash in the hand assets, that they can spend on what they want.

  12. xtasy 12

    John Key and his ministers more or less go by this line:

    Well, this may be somewhere in the range of bla, bla, bla, well that is not sure, but it maybe less, or more, or it may be totally off that figure, I presume, given the opposition always give us wrong figures, while we are trying to work out the real figures, which could be somewhere there, here or anywhere, really, who knows, we will find out in the end some time sooner or later?!

    Any other questions?

    If that does not work:

    Well that is purely an “OPERATIONAL matter”, which is not within my direct ministerial responsibility.

    Remember:

    In NAZI Germany, all were just doing and fulfilling “their duties”, they were not responsible, knew nothing much of anything, and they were all innocent after all. It may have also fallen into the category of “operational matters”, I presume.

    Accountability of a Key led government, sort of, I presume. But who is now really “responsible” and in charge, and above all “accountable” and “knows” what will happen in detail?

  13. Observer AKL 13

    Hi Xstasy

    I take your points …. and the already SPENT … money

    But if Labour and Greens were to take a principled vow to return the shares to the New Zealand public, would it be a turning point in NZ politics?

    The 70% of kiwis who do not want the assets to slip into the clutching hands of the wealthy and overseas owners – would be heartened. I think.

    Additionally, the purchasers of Key’s shares, would be advised that the they will not get back the cost of their purchase – in view of the huge expense of mounting the float – and in view of the anxiety they caused powerless people.

    They would get back only what the nation could reasonably afford. Then only, over a period of time so as not to stress the economy.

    • xtasy 13.1

      Thanks, I get your point and guarded agreement.

      The problem for NZ and NZers is: Previous governments have signed up for abiding by WTO and other agreements, whether these are FTAs or whatever, so entering into commercial agreements or contracts, which naturally the planned sale of up to 49 per cent of shares in the formerly state owned assets will also mean, that will “bind” NZ and NZers legally.

      It should never go ahead, it must be stopped right from the outset, and since the law on mixed ownership has sadly passed, all that can and must be done now is, to on one hand go ahead with the petition for a referendum, but also to take all kinds of actions to make it impossible for the deals to go ahead.

      It is simply economic nonsense, as even leading economists will vow (Gareth Morgan was cautiously critical, the guy from Berle or so was also, same as others), to sell strategic assets in this way.

      Even where asset sales of this type happened, Norway has kept about two thirds of Statoil (the state dominated and owned energy company there), same as Tamasek from Singapore has much more than 51 per cent shareholding in the strategic assets held with energy generation and trade.

      51 per cent is a silly “majority” and will expose the government to undue pressures from private shareholders, to simply get the maximum returns in dividends, rather than invest in the assets and new assets to expand business. Look at the bus companies and even water companies in NZ that have been privatised, there has been little investment in infrastructure and improvements, rather a “milking” of the revenues!

      So maybe do all to sabotage this idiot plan!?

  14. Observer AKL 14

    Thanks Xtasy

    Overseas investors may well look for ways of sheltering under their sovereign Trade Agreements. We would expect America to be aggressive in pursuit of their “rights” to screw the less well off. Their FTAs are designed very carefully to fatten the US of A.

    The local “Mummy and Daddy investors” may find that Parliament really has the ultimate power to give and the power to take away. Ask Mr. key.

    You are right though, every effort should be made to stop the stupidity before it gets any further.

    I have a hunch that many nations would be pleased to see little New Zealand do the right thing by its common man. There is a hellish huge stench hovering over money (and the people who have excess of it) around the world. A sick in the guts feeling.

    Business, as distinct from the trading investment racket, knows that the bulk of a nation needs spending power if it is to thrive. The success of Business is absolutely tied to the wallets of the ordinary people. No wonder serious Economists do not support imposition of higher costs on the basic necessities of life.

    Around the world, it is time to shift a little of the vast wealth of those who have into the hands of the common man.

    Our current Parliament had the opportunity to do that. But the aristocratic Maori Members in league with John Key have done the exact opposite. Proving themselves to be the true enemies of Business and the market place; and of the Common Man.

  15. If asset sales are such a good idea, why doesn’t John Key sell 49% of his house to me and I’ll rent that 49% back to him at whatever I decide is a reasonable rate of return. Plus, if I still own 49% of his house in a few years time, he can pay me a further bonus for holding on to it for him. We don’t need to worry about exact dollar figures now, John. You can trust me to charge “market rates” and not abuse my monopoly position, but of course I won’t sign anything that would bind me to that promise. Oh yeah, and don’t expect me to invest in maintainence. I’ll just wait until the house is on the verge of collapse and then come back to you cap in hand, stating that the house is too big to be allowed to fail, and that you need to pay for the repairs I avoided.

    What’s that John? It’s a stupid idea?

    Why, yes it is John. Yes it is.

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    Feeding The Flames: It is simply not enough to demand an end to “corruption”, or “inequality”, or the overbearing influence of the authorities in Beijing. These are just “lowest common denominator” demands: the sort of slogans that pull people onto the streets. They are not a plan.WHERE’S THE PLAN? Across ...
    1 week ago
  • 11,000 employed under Labour
    The labour market statistics have been released, and unemployment has risen to 4.2%. There are 115,000 unemployed - 11,000 fewer than when Labour took office. In that time the minimum wage has gone up by $2 an hour, which shows that the right's fears about increases causing unemployment are simply ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • Boycott this democratic fraud
    The Foreign Affairs, Defence and Trade Committee has called for submissions on Andrew Little's tyrannical Terrorism Suppression (Control Orders) Bill. Normally I encourage participation in the democratic process. I am not doing so in this case. Instead, I encourage all of you to boycott this submissions process, and to post ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • Why Mars is cold despite an atmosphere of mostly carbon dioxide
    Climate Explained is a collaboration between The Conversation, Stuff and the New Zealand Science Media Centre to answer your questions about climate change. If you have a question you’d like an expert to answer, please send it to climate.change@stuff.co.nz If tiny concentrations of carbon dioxide can hold enough heat ...
    SciBlogsBy Guest Author
    1 week ago
  • Climate Change: Ban private jets
    Aviation is one of the fastest growing sources of greenhouse gas emissions, and within it, one of the fastest sources is elite travel: billionaires flitting around the world in their private jets, spewing excessive pollution into the atmosphere just so they can avoid mixing with us dirty peasants. But in ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • Climate Change: Untold Suffering
    That's what we face if we don't stop climate change, according to a warning from 11,000 scientists:The world’s people face “untold suffering due to the climate crisis” unless there are major transformations to global society, according to a stark warning from more than 11,000 scientists. “We declare clearly and unequivocally ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • The left and violent misogyny
    by Phil Duncan Here’s just a few of the kind of threats issued day in and day out against gender-critical women – feminists, marxists, etc – overwhelmingly by MEN (albeit men identifying as women). “Kill all Terfs”. “Shoot a Terf today”. “All terfs deserve to be shot in the head”. ...
    RedlineBy Admin
    1 week ago
  • Imperialism and the iPhone
    This is the third of the synopses of parts of the opening chapter of John Smith’s Imperialism in the 21st Century (New York, Monthly Review Press, 2016). The synopsis and commentary below is written by Phil Duncan. Unlike the humble cup of coffee and t-shirt that we looked at in ...
    RedlineBy Admin
    1 week ago
  • The freshwater mussel housing crisis: eviction by invasive weeds?
    Tom Moore Traditionally a food source and cutting tool, freshwater mussels/kākahi are now widely valued as water filters that help clean our waterbodies and maintain ecosystem health throughout Aotearoa. The improvement they provide in water quality can make it easier for other animals to live in streams and rivers, as ...
    SciBlogsBy Guest Author
    1 week ago
  • Back it up Luxon: endorsing the destructive past is not actually the way forward
    And to think he gave all the potential goodwill away with that moronic, cult-like statement (repeated ad nauseam by many National hardliners) that Key is quite simply “the greatest PM we ever had”… Installation complete: this was nothing ...
    exhALANtBy exhalantblog
    1 week ago
  • Good riddance
    National MP and former Conservation Minister Maggie Barry will not seek re-election next year. Good riddance. Because in case anyone has forgotten, barry is a bullying thug who terrorised both public servants and fellow MPs. She is one of the people who makes Parliament a toxic workplace, and our country ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • Climate Change: D-Day
    The Zero Carbon Bill is back in the House today for its second reading. While this isn't the final stage, its still effectively D-Day for the bill. Because today, at around 5pm, is when we're going to find out if it has a majority, whether National will support it or ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • Winston is right
    Winston Peters is in court today, suing a bunch of former Minister and civil servants over their pre-election leak of his superannuation repayment. He's characterised the leak as malicious, and said that it is repugnant that his information was passed on to Ministers to use for political advantage. And he's ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • Media impartiality
    Sky's economics editor, Ed Conway has posted a Twitter thread responding to a claim that - as far as I can see - Labour never made:
    Are NHS operation cancellations at an all-time high? That's the impression you might have been left with if you read this story from the ...
    1 week ago
  • Finish what’s on your plate
    Murray Cox Do I have to finish my favourite genome? That’s an often-asked question. Geneticists generally strive to produce high-quality genomes that sequence every last gene, making full use of the state-of-the-art technologies coming on stream. Sequencing DNA means determining the order of the four chemical building blocks – called ...
    SciBlogsBy Genomics Aotearoa
    1 week ago
  • Gainful Employment: A Cautionary Tale.
    Transformative Politics: The idea is to turn each recipient into an unwitting accomplice in their own transformation. From interested observer to hyped-up activist, sharing our messages promiscuously with ‘friends’. You’ll be part of an ever-expanding circulatory system, Jennifer, for the ideas that will win us the election.”JENNIFER SKITTERED her chair ...
    1 week ago
  • New Zealand should not fund bigotry
    Two years ago, the Cook Islands government announced that it was planning to join the civilised world and decriminalise consensual homosexual sex between men. Now, they've reversed their position, and decided to criminalise lesbians into the bargain:Two years ago, in a step welcomed by many people including the gay and ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • New Fisk
    No Right TurnBy Idiot/Savant
    1 week ago
  • More tyranny in Australia
    The boycott is a fundamental tool of protest. By choosing who we buy from, we can send a message, and hopefully change corporate behaviour. Historically, boycotts have been effective, for example over apartheid in South Africa and Israel, in forcing divestment from Myanmar, and in ending bus segregation in the ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • Submission for rationality and science against the assaults of pre-modernism and post-modernism
    Jan Rivers spoke at the Abortion Legislation Select Committee in favour of the bill, but in opposition to calls from other submitters to exchange the word ‘woman’ for ‘person’ throughout the bill. Jan is a supporter of the feminist group Speak Up For Women and has recently written an excellent ...
    RedlineBy Daphna
    2 weeks ago
  • My loyal readership of … Cam girls and Pornbots?
    I checked my traffic stats:I was intrigued by 'monica29' - who was this very dedicated individual?  I clicked on the link, to be greeted with ...Ho, hum.Spreadin' the word, spreadin' the word.  Doesn't matter who hears it, as long as it gets out there. ...
    2 weeks ago
  • Worth repeating forever
    There have been three polls since the election was announced, and I will shamelessly steal YouGov / UK Polling Report's Anthony Wells' summary of them:Survation – CON 34%, LAB 26%, LDEM 19%, BREX 12%, GRN 1% Ipsos MORI – CON 41%, LAB 24%, LDEM 20%, BREX 7%, GRN 3% YouGov ...
    2 weeks ago
  • Lutte Ouvriere on the explosion in Chile
    The following article is translated from Lutte Ouvrière, the weekly newspaper of the organisation usually known by the same name in France. When, for the second time this year, Chilean President Piñera announced an increase in the price of Metro tickets from 800 to 830 pesos, students in the high ...
    RedlineBy Admin
    2 weeks ago
  • Wage theft – I’m fucking over it.
    Today, a worker contacted me asking if she could go to the police over her employer stealing thousands of dollars from her in unpaid wages. The employer also did not pay this worker’s taxes or student loan which amounts to tax fraud. As a workers rights activist, who founded the ...
    PosseBy chloeanneking
    2 weeks ago
  • On The Rebound.
    Signed, Sealed, Delivered, They're Yours: Is there any person more vulnerable than a jilted lover on the rebound? Or, anything more certain than that the charmer, the predator, the glib spinner of lies and promises will seek such broken people out? Yes, of course, he will love every one of ...
    2 weeks ago
  • Rabbi urges congregation to vote against Corbyn
    Though Jonathan Romain is a fairly high profile Rabbi, writing in several papers and popping up on TV and the radio, this story doesn't seem to have made it to the Guardian yet, so I'll take the unusual step of linking the Stephen Pollard edited Jewish Chronicle:Rabbi Dr Jonathan Romain ...
    2 weeks ago
  • My absurdly optimistic prediction
    There's an election afoot, and that is when noted opinion formers such as myself get to make wild fools of ourselves by pretending we have the faintest idea what will happen.So, here is my absurdly optimistic prediction:Labour - 285Conservative - 262SNP - 53Lib Dems - 20PC - 5Ireland - 18 ...
    2 weeks ago
  • October ’19 – NZ blogs sitemeter ranking
    Image Credit: Increase Social Media Traffic & Website Traffic I notice a few regulars no longer allow public access to the site counters. This may happen accidentally when the blog format is altered. If your ...
    2 weeks ago
  • A mountain of a challenge in banning glyphosate
    Belinda Cridge I was reading my son a story last night. A great tale of derring-do of five mountaineers scaling the Matterhorn for the first time. One in the party had tried six times previously and failed, this was the last attempt before winter closed another season. They tried a ...
    SciBlogsBy Guest Author
    2 weeks ago
  • This government has a problem with secrecy
    As introduced, the Zero Carbon Bill included an expansive secrecy clause, which would have covered virtually all decisions by the Climate Change Commission over our most important policy area. The Ministry for the Environment admitted this was a mistake (or as they put it, an "oversight"), and the select committee ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • A small New Zealand songbird that hides food for later use provides insights into cognitive evolutio...
    Rachael Shaw, Victoria University of Wellington When we think about animals storing food, the image that usually comes to mind is a squirrel busily hiding nuts for the winter. We don’t usually think of a small songbird taking down an enormous invertebrate, tearing it into pieces and hiding these titbits ...
    SciBlogsBy Guest Author
    2 weeks ago
  • Referenda on Euthanasia – NZ First’s Victory – or a Major Miscalculation?
    . . NZ First’s success in putting the euthenasia bill to a public referenda may not be the victory they believe it to be. They may even have sounded the death-knell for a second Labour-NZ First-Green coalition. On 23 July this year, NZ First MP, Jenny Marcroft, submitted a Supplementary ...
    Frankly SpeakingBy Frank Macskasy
    2 weeks ago

  • Kiwis to have their say on End of Life Choice
    Jenny Marcroft MP, Spokesperson for Health New Zealand First backs the public to decide on the End of Life Choice Bill via a referendum at the 2020 General Election. The Bill, with New Zealand First’s referendum provision incorporated, passed its final reading in Parliament this evening. New Zealand First Spokesperson for ...
    2 hours ago
  • Addressing miscarriages of justice
    Darroch Ball, Spokesperson for Justice New Zealand First is proud that a key Coalition Agreement commitment which will provide for a more transparent and effective criminal justice system has been realised. Legislation to establish the Criminal Cases Review Commission, an independent body focused on identifying and responding to possible miscarriages of ...
    1 day ago
  • Week That Was: Historic action on climate change
    "Today we have made a choice that will leave a legacy... I hope that means that future generations will see that we, in New Zealand, were on the right side of history." - Jacinda Ardern, Third Reading of the Zero Carbon Bill ...
    6 days ago
  • Tax-free deployments for Kiwi troops
    Darroch Ball, New Zealand First List MP A Member’s bill has been proposed that would provide income tax exemptions for all New Zealand Defence Force (NZDF) personnel while on operational deployment overseas. The Income Tax (Exemption for Salary or Wages of NZDF Members on Active Deployment) Amendment Bill proposed by New Zealand First ...
    6 days ago
  • A balanced Zero Carbon Bill passed
    Rt Hon Winston Peters, New Zealand First Leader New Zealand First is proud to have brought common sense to the Climate Change Response (Zero Carbon) Amendment Bill, which passed its final reading in Parliament today. Party Leader Rt Hon Winston Peters says months of hard work went into negotiating a balanced ...
    1 week ago
  • Paramedics’ status to be recognised
    Jenny Marcroft MP, Spokesperson for Health New Zealand First has listened to calls to recognise paramedics as registered health professionals under the Health Practitioners’ Competence Assurance Act (the Act). Today, the Coalition Government announced plans for paramedics to be registered as health practitioners under the Act, and the establishment of a ...
    1 week ago
  • Week That Was: 2,000 teachers in two years
    We began the week by commemorating the New Zealand Wars and celebrating a major increase in the number of teachers. Then, we were busy supporting offenders into work and getting our rail back on track after years of underinvestment. And that's just the start! ...
    2 weeks ago
  • Winning an election one conversation at a time
    In October I was sworn in as the Mayor of Lower Hutt. It’s the privilege of my life to serve Hutt people as their Mayor. There is something really special to be able to serve the community where I was raised, and where I live.   ...
    2 weeks ago
  • Closer cooperation with Korean horse racing industry
    Rt Hon Winston Peters, Deputy Prime Minister, Minister for Racing Racing Minister Winston Peters met with Korea Racing Authority Chairperson Nak Soon Kim in Seoul today to discuss closer cooperation between the New Zealand and Korean horse racing industries. As part of the visit to the Seoul Racecourse, Mr Peters witnessed ...
    2 weeks ago
  • Otago to lead digital creativity
    Hon Shane Jones, Minister for Regional Economic Development The Provincial Growth Fund (PGF) is investing $10 million to establish Otago as the centre of New Zealand’s creative digital industry over the next ten years, Regional Development Minister Shane Jones announced today. “The initiative will bring us closer to the vision of ...
    2 weeks ago
  • Young Otago students encouraged to take on forestry careers
    Hon Shane Jones, Minister for Regional Economic Development The Provincial Growth Fund (PGF)’s skills and employment programme will help young Otago people into long-term forestry careers, Regional Economic Development Minister Shane Jones announced today. Te Ara Mahi will invest $63,000 in the 2020 school year to support eight 17 and 18 ...
    2 weeks ago
  • PGF backing Dunedin’s waterfront ambitions
    Hon Shane Jones, Minister for Regional Economic Development The Provincial Growth Fund (PGF) will support local plans to revitalise and stimulate economic development opportunities in Otago, Regional Economic Development Minister Shane Jones has announced. The four Regional Economic Development Ministers have approved an in-principle investment of $19.9 million towards the region’s ...
    2 weeks ago
  • M. Bovis eradication progress welcomed
    Mark Patterson, Spokesperson for Primary Industries New Zealand First is pleased to have received the Technical Advisory Group (TAG) report on the Coalition Government’s Mycoplasma bovis eradication efforts, which shows significant progress in the fight against the disease. New Zealand First Spokesperson for Primary Industries, Mark Patterson, says the report’s findings ...
    2 weeks ago
  • PGF boosts Otago’s engineering and manufacturing sector
    Hon Shane Jones, Minister for Regional Economic Development Hon David Parker, Minister for Trade and Export Growth The Provincial Growth Fund (PGF) is investing to support economic growth opportunities for Otago’s engineering and manufacturing sectors, Regional Development Minister Shane Jones and Trade and Export Minister David Parker announced today. Almost $20 million ...
    2 weeks ago
  • Minister Peters discusses Pacific challenges and denuclearisation in Seoul
    Rt Hon Winston Peters, Deputy Prime Minister, Minister of Foreign Affairs Foreign Minister Winston Peters and his South Korean counterpart, Kang Kyung-wha, discussed in Seoul today opportunities to work more closely in the Pacific and the situation on the Korean Peninsula. Mr Peters and Minister Kang confirmed New Zealand and the ...
    2 weeks ago
  • PGF supports high speed broadband for marae at Parihaka Pa
    Hon Shane Jones, Minister for Regional Economic Development  Hon Nanaia Mahuta, Minister for Māori Development The three marae in the historic Parihaka Pa complex in Taranaki have been upgraded to high speed broadband with the support of the Provincial Growth Fund (PGF), Regional Economic Development Minister Shane Jones announced today. “Connecting the ...
    2 weeks ago
  • Advancing Pacific Partnerships 2019 launched
    Hon Ron Mark, Minister of Defence Minister of Defence Ron Mark will today launch the Advancing Pacific Partnerships 2019 Defence Assessment  during a speech at Te Papa.  The Assessment outlines how Defence will partner with our Pacific Island neighbours and invest in Pacific regional security architecture. The Plan aligns with the Coalition ...
    2 weeks ago
  • PGF funding could transform Gisborne company into “beacon of employment” in two years
    A new Provincial Growth Fund investment could create about 80 new jobs in Gisborne over the next two years, turning a local small business into a “beacon of employment” in the process. Regional Economic Development Parliamentary Under-Secretary Fletcher Tabuteau said the PGF’s Te Ara Mahi funding stream would provide $1.6m ...
    2 weeks ago
  • Week That Was: Two years of progress
    This week, we’re taking action on climate change, expanding trades education – and celebrating two years of progress! ...
    3 weeks ago
  • Minister of Foreign Affairs to visit the Republic of Korea and Japan
    Rt Hon Winston Peters, Deputy Prime Minister, Minister of Foreign Affairs Minister of Foreign Affairs Winston Peters will travel to the Republic of Korea and Japan next week. “The Republic of Korea and Japan are two of New Zealand’s closest partners in the region with whom we share common values and ...
    3 weeks ago
  • New Zealand to lead Bougainville Referendum Regional Police Support Mission
    Rt Hon Winston Peters, Deputy Prime Minister, Minister of Foreign Affairs Minister of Foreign Affairs Winston Peters has announced today that New Zealand is leading a police support mission in Bougainville as the region prepares to vote in a non-binding referendum on its political future. “New Zealand has accepted an invitation ...
    3 weeks ago
  • We’re taking action on climate change
    “I refuse to accept the challenge of climate change is too hard to solve.” – Jacinda Ardern ...
    3 weeks ago

  • Bowel Screening hits halfway point
    The roll out of the National Bowel Screening Programme has reached the halfway mark, with 10 out of 20 District Health Boards now part of the programme. MidCentral DHB, which covers Palmerston North, Manawatu and surrounding districts, this week became the latest to DHB to offer free bowel screening to ...
    BeehiveBy beehive.govt.nz
    1 hour ago
  • More vaccines for meningococcal disease
    The Government welcomes PHARMAC’s decision to fund a vaccine to protect young people from meningococcal disease from 1 December this year. “Meningococcal disease is a serious threat which people at higher risk should be protected from,” says Associate Health Minister Julie Anne Genter. “The combined pharmaceutical budget was increased by ...
    BeehiveBy beehive.govt.nz
    1 hour ago
  • Fisheries innovation projects supported
    Groups involved with innovative fisheries research projects are encouraged to apply for government support in the latest funding round from the Sustainable Food and Fibre Futures programme. Fisheries Minister Stuart Nash says the SFF Futures funding is designed to be flexible enough to support small or large projects across a ...
    BeehiveBy beehive.govt.nz
    16 hours ago
  • Government fixes culturally arranged marriage visa issue
    The Government has fixed an issue affecting how Immigration New Zealand has processed visa applications for culturally arranged marriages, which will now see a consistent process applied which ensures people with legitimate arranged marriages can visit New Zealand while also preventing any rorting of the system. Earlier this year Immigration ...
    BeehiveBy beehive.govt.nz
    20 hours ago
  • Extension for Royal Commission into Mosque attacks
    The Royal Commission into the Attacks on Christchurch Mosques will report back on 30 April 2020 to give it more time to hear submissions and consider information, Internal Affairs Minister Tracey Martin announced today. The Royal Commission was originally scheduled to report back to Government by 10 December 2019. “There has ...
    BeehiveBy beehive.govt.nz
    22 hours ago
  • Terrorism and Trade on agenda as Foreign Minister visits the United States
    Foreign Minister Winston Peters will travel to Washington DC today to attend a ministerial meeting focused on defeating ISIS, and to continue pursuing New Zealand’s trade opportunities. Mr Peters will participate in a meeting of Foreign and Defence Ministers from key countries contributing to the Global Coalition to Defeat ISIS. ...
    BeehiveBy beehive.govt.nz
    23 hours ago
  • Hoiho get extra support alongside 168 community conservation groups backing nature
    The recently crowned Bird of the Year, the hoiho/yellow eyed penguin, is getting a much needed helping hand alongside more than 168 other community conservation projects announced Minister for Conservation Eugenie Sage today. 168 community conservation projects throughout New Zealand are benefiting from $8 million in government grants, including $500,000 ...
    BeehiveBy beehive.govt.nz
    23 hours ago
  • New safety measures for modified pistols
    Controls on assault rifles and semi-automatic firearms are to be broadened to include some types of pistols, under changes to a bill currently making its way through Parliament. Police Minister Stuart Nash has tabled a Supplementary Order Paper to the Arms Legislation Bill, which is currently before a Select Committee ...
    BeehiveBy beehive.govt.nz
    24 hours ago
  • Minister of Defence to visit Singapore and Thailand
    Minister of Defence Ron Mark will travel to Singapore today to conduct a counterpart visit and to co-chair the third annual Singapore-New Zealand Defence Ministers’ Meeting with his counterpart, Minister for Defence Dr Ng Eng Hen. “Singapore is one of our most important defence partners in the region, and our ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Future secured for Salisbury School
    Nelson’s Salisbury School is to be rebuilt, creating a modern and suitable learning environment for students at the residential special school, Education Minister Chris Hipkins and Associate Education Minister Tracey Martin announced today. The school for girls aged 8-15, in Richmond, was earmarked for closure by National until the process ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Resource management reform options released
    The panel undertaking a comprehensive review of the Resource Management Act has identified the main issues to be addressed and options for reform and is calling for feedback to inform its final report.  In July the Government announced the comprehensive review of the resource management system, including the RMA - ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Criminal Cases Review Commission established
    An important safety valve has been added to New Zealand’s criminal justice system with the third reading of the Criminal Cases Review Commission Bill today. The Criminal Cases Review Commission (CCRC) will investigate claimed miscarriages of justice. “We’ve seen how our justice system can very occasionally get things spectacularly wrong, ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Racing Industry destined to be on-track
    Racing Minister Winston Peters welcomes the tabling of the Racing Industry Transition Agency (RITA) 2019 Annual Report in Parliament today. He says the 2019 Annual Report marks the point when New Zealand’s racing industry’s decline was arrested and a turnaround started. RITA’s 2019 Annual Report recorded an industry net profit ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • New Zealand firefighter support to Queensland
    The New Zealand Government is today sending 21 firefighters to help fight the ongoing catastrophic Australian bushfires. “The fires in Australia are in some of the toughest, most challenging conditions ever,” says Internal Affairs Minister Tracey Martin.  “As of yesterday morning, there were 100 active bushfire-related incidents across Queensland and ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Supporting all schools to succeed
      More frontline support for schools through a new education agency, as part of a redesigned Ministry of Education More support for principals and school boards including through a new centre of leadership and local leadership advisor roles New independent disputes panels for parents and students Management of school property ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Reform to support better outcomes for Māori learners and whānau
    The Government’s reform of the Tomorrow’s Schools system is a watershed moment in education and an opportunity to create meaningful change for ākonga Māori and their whānau, Associate Education Minister Kelvin Davis said today. “Last year through Kōrero Mātauranga | Education Conversation, Māori teachers, parents, ākonga, whānau, hapū and iwi ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Infrastructure pipeline growing
    Infrastructure Minister is welcoming the first of many updated project pipelines from the newly established New Zealand Infrastructure Commission today. The New Zealand Infrastructure Commission, Te Waihanga, has released an expanded pipeline of major capital projects – another crucial step towards delivering better infrastructure outcomes. “The first iteration of the ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Tighter firearms law to further improve safety
    Tougher gun laws designed to improve public safety through firearms prohibition orders are proposed in a new document released for public input. Police Minister Stuart Nash says firearms prohibition orders (FPOs) would give new powers to Police to ensure high-risk individuals come nowhere near firearms. “We have already prohibited the ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • New TVNZ chair & directors confirmed
    Andy Coupe has been confirmed as TVNZ’s new Board Chair. “Mr Coupe has strong commercial and capital markets experience and TVNZ has benefited from his technical knowledge of business and finance, as well as his extensive governance experience,” the Minister of Broadcasting, Communications and Digital Media Kris Faafoi said.  Andy ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Hutt Road cycle path officially opened
    Associate Minister of Transport Julie Anne Genter today officially opened a separated pathway, following the completion of the Kaiwharawhara Stream bridge, which will improve safety for cyclists and pedestrians along Hutt Road.  The $6.8m Hutt Road project provides a separated path for cycling and pedestrians, the replacement of informal parking ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Announcement of new Ambassador to Russia
    Foreign Affairs Minister Winston Peters today announced the appointment of career diplomat Si’alei van Toor as New Zealand’s next Ambassador to Russia. “I’m pleased to appoint Ms van Toor to this position. She brings a wealth of experience to the role having previously served as Senior Trade Adviser to the ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Half Year Economic and Fiscal Update
    The Treasury’s 2019 Half Year Economic and Fiscal Update (HYEFU) will be released on Wednesday December 11, Finance Minister Grant Robertson says. The Coalition Government will publish the 2020 Budget Policy Statement at the same time, outlining the priorities for Budget 2020. Further details on arrangements for the release will ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Giving a Boost to Kiwi small businesses
    A new initiative to better support small businesses through hands-on mentoring and advice has been launched by the Minister for Small Business. The first event in the Kiwi Business Boost series of regional workshops and online tools has been launched in Wairoa by Stuart Nash. “The Business Boost initiative combines ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Nearly three quarters of Rolleston connected to UFB
    The latest Quarterly Connectivity Report shows that more and more New Zealanders are moving to Ultra-fast Broadband (UFB), with Rolleston having the highest uptake at 74 per cent, as at the end of September. “This means that nearly three quarters of Rolleston’s households and businesses have moved to ultra-fast services. ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Historic day for landmark climate change legislation in New Zealand
    The passing of the Climate Change Response (Zero Carbon) Amendment Bill will help ensure a safe planet for our kids and grandkids, the Minister for Climate Change James Shaw said today. The landmark legislation which provides a framework to support New Zealanders to prepare for, and adapt to, the effects ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Release of Oranga Tamariki Practice Review
    The review of Oranga Tamariki practice around the planned uplift of a Hastings baby in May shows significant failings by the Ministry and that the planned and funded changes to shift from a child crisis service to a proper care and protection service need to be accelerated, Children’s Minister Tracey ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Minister wishes students success in exams
    Education Minister Chris Hipkins has wished students the best of luck for this year’s NCEA and New Zealand Scholarship exams which start tomorrow. Around 140,000 students will have participated in 119 NCEA and New Zealand Scholarship exams by the end of the exam period on 3 December. “I want to ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • New High Commissioner to the United Kingdom announced
    Foreign Affairs Minister Winston Peters today announced the appointment of Bede Corry as New Zealand’s next High Commissioner to the United Kingdom. “The appointment of a senior diplomat to this important role underlines the significance New Zealand places on our relationship with the United Kingdom,” said Mr Peters. “The United ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • New Police recruits making Auckland safer
    An innovative approach to boosting the number of frontline Police has seen 20 new officers graduate from one of the uncommon training wings in Auckland. Police Minister Stuart Nash says the graduation of 20 constables today means that 1,765 new Police officers have been deployed since the coalition government took ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Over 1.2 million hours of community work helps local communities
    Corrections Minister Kelvin Davis says the 1.2 million hours of community work completed by offenders in the last financial year has helped local communities right across the country. “Community work sentences are a great way for people to pay something positive back to society. There is a massive benefit to ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Te Huringa o Te Tai – Police Crime Prevention Strategy
    "A pathway for Police in leadership with Iwi Māori, to achieve the aspirations of Māori whānau." Police launch of Te Huringa o Te Tai, Pipitea Marae,  Thorndon Quay, Wellington Nau mai, haere mai. Tēnā koutou, tēnā koutou, ka nui te mihi, ki a koutou. Hello everyone, warm greetings to you all. ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Kiwis getting higher pay
    Working New Zealanders are getting more in their back pockets under the Coalition Government’s economic plan. Stats NZ data today shows average weekly ordinary time earnings are up by $83 since the Government took office. This shows that working New Zealanders are getting higher take-home pay, and that employers are ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • More support for schools to reduce energy consumption and environmental impact
    The Government is supporting schools to cut down their energy consumption and reduce environmental impacts, with a quarter of all schools having their lights replaced with LEDs, a sustainability contestable fund and a plan to improve the environmental sustainability of all schools in the future. Education Minister Chris Hipkins and ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • New Zealand’s manaakitanga highlighted in China
    Tourism Minister Kelvin Davis heads to China on Friday to lead the New Zealand Government presence at the China-New Zealand Year of Tourism closing ceremony. The ceremony will take place at Canton Tower in Guangzhou on Sunday 10 November. “The Year of Tourism has been mutually beneficial for both New ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Climate change research boost
    Should we plan for drought or deluge and how is CO2 released from the ocean’s floor? Several climate change projects were given a boost in the latest Marsden Fund investment of $83.6 million, Research, Science and Innovation Minister Megan Woods said today. “Climate change is long-term challenge that requires out-of-the-box ...
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    1 week ago
  • Significant progress on Regional Comprehensive Economic Partnership (RCEP)
    Leaders of 16 countries negotiating the Regional Comprehensive Economic Partnership (RCEP) have announced the completion of negotiation on the text as well as agreement on virtually all market access issues between 15 countries. The leaders said they will work with India to resolve its outstanding concerns in a way that ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Learn how to stay safe on World Tsunami Awareness Day
    Civil Defence Minister Hon Peeni Henare says World Tsunami Awareness Day today (5 November) is a chance for all New Zealanders to learn more about the tsunami risk in our regions and the right actions to take to stay safe. “All of New Zealand’s coastline is at risk of tsunami. ...
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    1 week ago
  • Formal recognition at last for paramedics’ frontline medical role
    New Zealand’s more than 1000 paramedics are to have their role as key frontline health professionals formally recognised and regulated in the same way as doctors and nurses, Health Minister David Clark says. The Government has agreed to regulate paramedics under the Health Practitioners Competence Assurance Act 2003. “Paramedic leaders ...
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    1 week ago
  • Government improving protections for consumers and workers when businesses fail
    Changes to insolvency law announced by the Government today will include requirements to honour up to 50 per cent of the value of gift cards or vouchers held by consumers, Commerce and Consumer Affairs Minister Kris Faafoi says. “When a business is insolvent, these consumers are often left out of ...
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    1 week ago
  • Outstanding public service recognised
    Six New Zealanders tonight received medals for their meritorious work in the frontline public service. The Public Service Medal, established by Her Majesty Queen Elizabeth II, is awarded annually. “For the second year this Government has recognised public servants who have made a real difference to the lives of New ...
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    1 week ago