The Reserve Bank Reform Bill

Written By: - Date published: 7:23 am, December 7th, 2018 - 11 comments
Categories: business, capitalism, david parker, Deep stuff, Economy, employment, grant robertson, labour, monetary policy, Politics, treasury - Tags:

Way, way back in the day, there was a Prime Minister called Robert Muldoon who made himself the Minister of Finance. As a total control freak he was the epitome of a leader dominating a command-and-control economy and society. He had a lot of pretty direct control over the Reserve Bank as well.

But his spectre of 35 years ago remains an excuse for never letting politicians near the actual inflation/economy balancing machine called the RBNZ.

That kind of Prime Minister really pushed the boundaries of our constitutional framework, and it was pretty clear to the incoming Lange-led government that some real statutory independence was in order.

So since 1989, 30 years ago, the Reserve Bank has had a lot more separation from direct democratic control. It has its own Board, and the government of the day sets its objectives, which are intended to be as enduring as possible.

The current policy targets agreement provided by this government’s economic objectives for the New Zealand requires the Reserve Bank to “improve the wellbeing and living standards of New Zealanders through a sustainable, productive, and inclusive economy. Our priority is to move towards a low carbon economy, with a strong diversified export base, that delivers decent jobs with higher wages and reduces inequality and poverty.”

Specifically for the part that monetary policy is expected to play, the Government “expects monetary policy to be directed at achieving and maintaining stability in the general level of prices over the medium term and supporting maximum stable employment.”

With stuff-all inflation, and stuff-all headline unemployment, you’d have to say they are meeting their core objectives easily, which shows that their targets are too easy for any useful accountability to anyone.

But after 30 years, another reforming Labour-led government decided it was time to give this Act a shave and a haircut. More specifically, Labour campaigned on a policy to update the Reserve Bank Act, to widen the objectives of the Bank to ensure that monetary policy decision-makers emphasised both those factors, rather than just driving inflation down as the previous government did.

Personally I don’t think it would have killed them to have the Minister of Finance sitting on the Reserve Bank Board as of right. That would not have upset the consensus-based approach to their decisions. Ah but no.

And since our banking system is 90% dominated by foreign banks most of whom are Australian-domiciled, I wanted to see much stronger powers to regulate them. Earlier this year the IMF carried out a comprehensive review of New Zealand’s financial system against international standards, with a focus on the quality of financial sector regulation.

It’s not too long ago that our entire mezzanine finance sector died and killed off a generation of retirements savings with it. It’s even shorter ago that the entire Australian Big Four banks were found by a Royal Commission in Australia to be an usurous, greedy, nasty bunch of pricks. So yes, the IMF were right.

But apparently our branch offices were fine and would never do such a thing. Like butter wouldn’t melt.

We have no reason to trust banks. They own us. The Australian banking system owns us. Why we would not align the regulatory powers of our own Reserve Bank with those of Australia beggars belief. And this is despite the Reserve Bank reacting to the IMF study that according to our previous Governor:

The Reserve Bank recognises that, despite a rebalancing towards more regulation post-GFC, New Zealand’s banking system remains unusual given the emphasis that is placed on self and market discipline, and its relatively low-intensity supervisory approach.”

It is bizarre that our Reserve Bank Governor should think – particularly after the recent Panama Papers revelations – that the most useful thing is to design a system of banking regulation that fits New Zealand conditions. What it needs to do is protect us from the shits that run the money in this world. To do that is needs big, sharp regulatory teeth. And it doesn’t want them.

Instead of a wee tad of direct democratic oversight coming into the picture, the RBNZ will have a committee-based decision-making model that includes Treasury officials. Now, don’t slag Treasury off quickly. They are well on the way to implementing Minister Robertson’s new wellbeing framework for budget bids and for Budget 2019.

But what we have instead is the most anodyne of reforms to the Reserve Bank, simply a set of tweaks to ensure that it is able to emphasise employment targets as well as inflationary ones. But to otherwise dust your hands of another campaign promise.

Here’s the bill text, intended to be passed early next year.

Banking, according to Deputy Prime Minister Winston Peters only yesterday, is one of several industries in New Zealand that is fleecing New Zealanders.

So at least there’s one government politician who gets this. It’s not as if we need another GFC to remind us of what a “self-regulating” banking sector does to a society when its’ profits are threatened. It sucks us dry.

Banking is but one of a series of oligopolies exercising cartel-like behaviour over this country that are sucking us to a husk. These near-cartels include:

  • fuel (for which the government has had to provide specific investigative powers)
  • building materials
  • electricity both generator and lines
  • telephone and internet
  • housing rent prices
  • supermarkets and groceries
  • liquor
  • water

… and other goods and services with barely any price regulation that we totally rely on for our very lives as well as a functioning society.

That list above contains a multitude of regulatory nightmares, affecting millions of New Zealanders, and this government will face a couple of terms just getting to grips with any of them.

And if this government doesn’t understand after the debacle it is facing in NZTA of “self-regulation” in the car and truck industry, it is only a matter of time before we get yet another avoidable disaster in any of them, including banking.

Regrettably this government has near-zero regulatory experience in its cabinet, and the person with any is David Parker and he is flooded.

In that Wellington situation, for the Reserve Bank, status quo has largely prevailed.

11 comments on “The Reserve Bank Reform Bill ”

  • Comments are now closed

  1. Antoine 1
    7 December 2018 at 7:32 am

    I agree with much of what you say, but it is a nonsense to say that electricity lines are cartel-like and face ‘barely any price regulation’. Most lines companies are under heavy price regulation. They have to be, as there is not competition in the sector. Not comparable with the other items in your list.

    A.

    • KJT 1.1
      9 December 2018 at 6:02 am

      One of the hidden costs of privatization. The cost of regulations, monitoring and controls, to ensure one eyed profit centred private companies do not plunder the public and run down the infrastructure.
      Underlines the stupidity, of the whole privatisation of the power companies. Not to mention privatising control of banking.

  2. Phil 2
    7 December 2018 at 9:13 am

    Your entire post is woefully under-informed. The ‘anodyne’ changes you note represent only Phase One (specifically focusing on how monetary policy and inflation targeting are implemented) of a huge review of the RBNZ.

    There is a consultation paper out in the public arena right now focusing on how the RB deals with regulation and supervision of banks.

    https://treasury.govt.nz/news-and-events/reviews-consultation/reviewing-reserve-bank-act/public-consultation

  3. Blazer 3
    7 December 2018 at 9:22 am

    Reform of the banking sector is well overdue.
    They have proved time and again that they cannot be trusted.

    Still cannot understand why more NZ’ers do not embrace Kiwi Bank.
    The present ANZ chairman in his former role did his best to sideline it.

    Since the repeal of Glass Steagal the Wall St banks have dominated politics ,with disasterous results ,culminating in the GFC and ludicrous inequality and an international debt money go round that can never be repayed.

    I love the way ,most peoples biggest financial burden,i.e rent or mortgage is excluded from inflation figures.

    The Reserve Bank needs more teeth and to tear the cosy banking cartels to…shreds.

    • Antoine 3.1
      7 December 2018 at 10:14 am

      Can you please not tear my bank into shreds as i am still using it

      A.

    • WILD KATIPO 3.2
      7 December 2018 at 10:57 am

      Good comments and good article by Advantage. And while some parts may seem to some to be broad brush strokes, that is only because space would not permit. This govt at least is recognizing that the whole ‘deregulation thing’ is feeding overseas fat wallets and bleeding us and our govt coffers dry… so to speak.

  4. Draco T Bastard 4
    7 December 2018 at 12:01 pm

    Specifically for the part that monetary policy is expected to play, the Government “expects monetary policy to be directed at achieving and maintaining stability in the general level of prices over the medium term and supporting maximum stable employment.”

    Then they’re doing it wrong as evidenced by the GFC and other recessions over the years.

    The problem is two fold:
    1. The private bank’s creation of money which massively pushes up inflation especially in housing
    2. The hot flow of money across borders which can cause recessions when rich people, acting as a herd, remove all the money that they can get their hands on from an economy

    Both of these need to be addressed. The first one by banning the private banks from creating money and the second by banning foreign ownership and sales of NZ goods in foreign currency.

    Earlier this year the IMF carried out a comprehensive review of New Zealand’s financial system against international standards, with a focus on the quality of financial sector regulation.

    So, what did they say?

    It is bizarre that our Reserve Bank Governor should think – particularly after the recent Panama Papers revelations – that the most useful thing is to design a system of banking regulation that fits New Zealand conditions. What it needs to do is protect us from the shits that run the money in this world. To do that is needs big, sharp regulatory teeth. And it doesn’t want them.

    Not bizarre at all when it’s obviously a Priest of the Church of Deregulation who’s in charge of the RBNZ. It doesn’t help that the government are worshippers at the same church.

    So at least there’s one government politician who gets this. It’s not as if we need another GFC to remind us of what a “self-regulating” banking sector does to a society when its’ profits are threatened. It sucks us dry.

    The banking sector sucks us dry. It’s actually designed to do that which is why it charges interest.

    The fix is a state banking system that makes both business and mortgages available at 0% interest. The money is created by the RBNZ (Reserve currency) as needed to make those loans. The funding to run this banking system would be from taxes but it is not a subsidy as everyone needs and uses those services.

    Banking is but one of a series of oligopolies exercising cartel-like behaviour over this country that are sucking us to a husk. These near-cartels include:

    … and other goods and services with barely any price regulation that we totally rely on for our very lives as well as a functioning society.

    Essential services which have a demand monopoly should always be provided by government and not the private sector.

    That list above contains a multitude of regulatory nightmares, affecting millions of New Zealanders, and this government will face a couple of terms just getting to grips with any of them.

    I’m pretty sure that they won’t even look at them as the still believe the lie that the private sector does it best despite all the evidence proving otherwise.

    And if this government doesn’t understand after the debacle it is facing in NZTA of “self-regulation” in the car and truck industry, it is only a matter of time before we get yet another avoidable disaster in any of them, including banking.

    QFT

  5. CHCOff 5
    7 December 2018 at 2:19 pm

    A House is a Home, the common market of and by all NZ citizens of all classes.

    Those the type of feathers which would give the most benefit being ruffled.

    Why put further resources into the outer shells of speculation and money laundering? Better to have an approach where such things naturally atrophy and die.

    Decoupling, not regulating.

  6. Tuppence Shrewsbury 6
    7 December 2018 at 3:33 pm

    FInd it a bit strange that a government that wants to reform electoral law that blatantly favours it’s support parties should “just be allowed as it’s 30 years since muldoon” to reform one of the sanest, safest and most bipartisan pieces of legislation ever enacted in New Zealand.

    But ok, nothing bad could happen here.

    • KJT 6.1
      7 December 2018 at 9:20 pm

      What fantasy world do you live in. The RBA, has been one of the most destructive legacies of the 84 and 90’s Governments.

      http://kjt-kt.blogspot.com/2013/05/the-reserve-bank-debt-and-property.html

      “In New Zealand we have the “Reserve Bank Act”.

      Which basically requires the reserve bank to kill the rest of the economy, whenever Auckland house prices, or wages, rise.

      Originally enacted, as a circuit breaker, to cap excessive inflation in the 80’s, politicians have kept it, long past its use by date, because in their limited view, what works once, briefly, will work perpetually.
      It could be argued that it was somewhat successful in curbing very high inflation, on that limited occasion, though others would note that the end of very high inflation ended with the slowing of the rise in oil prices.

      Now, every time the New Zealand productive economy struggles off its knees, the reserve bank delivers another knockout.”

  7. Philj 7
    8 December 2018 at 7:36 pm

    There is an alternate narrative to the MSM banking one, almost the opposite to what you have been told.
    In summary, the mainstream Bank/financial system is the problem. You decide.
    Michael Hudson is well qualified to critique the fraud that we are in. Happy thinking!

    https://youtu.be/k6y35aO_fpU

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    New Zealand’s longest-running political roadshow rolled into Opotiki yesterday, with New Zealand First leader Winston Peters knowing another poll last night showed he would make it back to Parliament and National would need him and his party if they wanted to form a government. The Newshub Reid Research poll ...
    PolitikBy Richard Harman
    5 days ago

  • September AMA
    Hi,As September draws to a close — I feel it’s probably time to do an Ask Me Anything. You know how it goes: If you have any burning questions, fire away in the comments and I will do my best to answer. You might have questions about Webworm, or podcast ...
    David FarrierBy David Farrier
    5 days ago

  • Bludgers lying in the scratcher making fools of us all
    The mediocrity who stands to be a Prime Minister has a litany.He uses it a bit like a Koru Lounge card. He will brandish it to say: these people are eligible. And more than that, too: These people are deserving. They have earned this policy.They have a right to this policy. What ...
    More Than A FeildingBy David Slack
    5 days ago

  • More “partnerships” (by the look of it) and redress of over $30 million in Treaty settlement wit...
    Buzz from the Beehive Point of Order has waited until now – 3.45pm – for today’s officially posted government announcements.  There have been none. The only addition to the news on the Beehive’s website was posted later yesterday, after we had published our September 26 Buzz report. It came from ...
    Point of OrderBy Bob Edlin
    5 days ago

  • ALEX HOLLAND: Labour’s spending
    Alex Holland writes –  In 2017 when Labour came to power, crown spending was $76 billion per year. Now in 2023 it is $139 billion per year, which equates to a $63 billion annual increase (over $1 billion extra spend every week!) In 2017, New Zealand’s government debt ...
    Point of OrderBy poonzteam5443
    5 days ago

  • If not now, then when?
    Labour released its fiscal plan today, promising the same old, same old: "responsibility", balanced books, and of course no new taxes: "Labour will maintain income tax settings to provide consistency and certainty in these volatile times. Now is not the time for additional taxes or to promise billions of ...
    No Right TurnBy Idiot/Savant
    5 days ago

  • THE FACTS:  77% of Kiwis believe NZ is becoming more divided
    The Facts has posted –        KEY INSIGHTSOf New Zealander’s polled: Social unity/division 77%believe NZ is becoming more divided (42% ‘much more’ + 35% ‘a little more’) 3%believe NZ is becoming less divided (1% ‘much less’ + 2% ‘a little less’) ...
    Point of OrderBy poonzteam5443
    5 days ago

  • Gordon Campbell on the cynical brutality of the centre-right’s welfare policies
    The centre-right’s enthusiasm for forcing people off the benefit and into paid work is matched only by the enthusiasm (shared by Treasury and the Reserve Bank) for throwing people out of paid work to curb inflation, and achieve the optimal balance of workers to job seekers deemed to be desirable ...
    Gordon CampbellBy lyndon
    5 days ago

  • Wednesday’s Chorus: Arthur Grimes on why building many, many more social houses is so critical
    New research shows that tenants in social housing - such as these Wellington apartments - are just as happy as home owners and much happier than private tenants. Photo: Lynn Grieveson / The KākāTL;DR: The election campaign took an ugly turn yesterday, and in completely the wrong direction. All three ...
    The KakaBy Bernard Hickey
    5 days ago

  • Bennie Bashing.
    If there’s one thing the mob loves more than keeping Māori in their place, more than getting tough on the gangs, maybe even more than tax cuts. It’s a good old round of beneficiary bashing.Are those meanies in the ACT party stealing your votes because they think David Seymour is ...
    Nick’s KōreroBy Nick Rockel
    6 days ago

  • The kindest cuts
    Labour kicks off the fiscal credibility battle today with the release of its fiscal plan. National is expected to follow, possibly as soon as Thursday, with its own plan, which may (or may not) address the large hole that the problems with its foreign buyers’ ban might open up. ...
    PolitikBy Richard Harman
    6 days ago

  • Green right turn in Britain? Well, a start
    While it may be unlikely to register in New Zealand’s general election, Britain’s PM Rishi Sunak has done something which might just be important in the long run. He’s announced a far-reaching change in his Conservative government’s approach to environmental, and particularly net zero, policy. The starting point – ...
    Point of OrderBy xtrdnry
    6 days ago

  • At a glance – How do human CO2 emissions compare to natural CO2 emissions?
    On February 14, 2023 we announced our Rebuttal Update Project. This included an ask for feedback about the added "At a glance" section in the updated basic rebuttal versions. This weekly blog post series highlights this new section of one of the updated basic rebuttal versions and serves as a ...
    Skeptical Science
    6 days ago

  • How could this happen?
    Canada is in uproar after the exposure that its parliament on September 22 provided a standing ovation to a Nazi veteran who had been invited into the chamber to participate in the parliamentary welcome to Ukrainian President Zelensky. Yaroslav Hunka, 98, a Ukrainian man who volunteered for service in ...
    Open ParachuteBy Ken
    6 days ago

  • Always Be Campaigning
    The big screen is a great place to lay out the ways of the salesman. He comes ready-made for Panto, ripe for lampooning.This is not to disparage that life. I have known many good people of that kind. But there is a type, brazen as all get out. The camera ...
    More Than A FeildingBy David Slack
    6 days ago

  • STEPHEN FRANKS: Press seek to publicly shame doctor – we must push back
    The following is a message sent yesterday from lawyer Stephen Franks on behalf of the Free Speech Union. I don’t like to interrupt first thing Monday morning, but we’ve just become aware of a case where we think immediate and overwhelming attention could help turn the tide. It involves someone ...
    Point of OrderBy poonzteam5443
    6 days ago

  • Competing on cruelty
    The right-wing message calendar is clearly reading "cruelty" today, because both National and NZ First have released beneficiary-bashing policies. National is promising a "traffic light" system to police and kick beneficiaries, which will no doubt be accompanied by arbitrary internal targets to classify people as "orange" or "red" to keep ...
    No Right TurnBy Idiot/Savant
    6 days ago

  • Further funding for Pharmac (forgotten in the Budget?) looks like a $1bn appeal from a PM in need of...
    Buzz from the Beehive One Labour plan  – for 3000 more public homes by 2025 – is the most recent to be posted on the government’s official website. Another – a prime ministerial promise of more funding for Pharmac – has been released as a Labour Party press statement. Who ...
    Point of OrderBy Bob Edlin
    6 days ago

  • Bryce Edwards: The Vested interests shaping National Party policies
    As the National Party gets closer to government, lobbyists and business interests will be lining up for influence and to get policies adopted. It’s therefore in the public interest to have much more scrutiny and transparency about potential conflicts of interests that might arise. One of the key individuals of ...
    Democracy ProjectBy bryce.edwards
    6 days ago

  • Labour may be on way out of power and NZ First back in – but will Peters go into coalition with Na...
    Voters  are deserting Labour in droves, despite Chris  Hipkins’  valiant  rearguard  action.  So  where  are they  heading?  Clearly  not all of them are going to vote National, which concedes that  the  outcome  will be “close”. To the Right of National, the ACT party just a  few weeks  ago  was ...
    Point of OrderBy tutere44
    6 days ago

  • GRAHAM ADAMS: Will the racists please stand up?
    Accusations of racism by journalists and MPs are being called out. Graham Adams writes –    With the election less than three weeks away, what co-governance means in practice — including in water management, education, planning law and local government — remains largely obscure. Which is hardly ...
    Point of OrderBy poonzteam5443
    6 days ago

  • Gordon Campbell on whether Winston Peters can be a moderating influence
    As the centre-right has (finally!) been subjected to media interrogation, the polls are indicating that some voters may be starting to have second thoughts about the wisdom of giving National and ACT the power to govern alone. That’s why yesterday’s Newshub/Reid Research poll had the National/ACT combo dropping to 60 ...
    Gordon CampbellBy lyndon
    6 days ago

  • Tuesday’s Chorus: RBNZ set to rain on National's victory parade
    ANZ has increased its forecast for house inflation later this year on signs of growing momentum in the market ahead of the election. Photo: Lynn Grieveson / The KākāTL;DR: National has campaigned against the Labour Government’s record on inflation and mortgage rates, but there’s now a growing chance the Reserve ...
    The KakaBy Bernard Hickey
    6 days ago

  • After a Pittsburgh coal processing plant closed, ER visits plummeted
    This is a re-post from Yale Climate Connections by Katie Myers. This story was originally published by Grist and is part of Covering Climate Now, a global journalism collaboration strengthening coverage of the climate story. Pittsburgh, in its founding, was blessed and cursed with two abundant natural resources: free-flowing rivers and a nearby coal seam. ...
    Skeptical Science
    7 days ago

  • September-23 AT Board Meeting
    Today the AT board meet again and once again I’ve taken a look at what’s on the agenda to find the most interesting items. Closed Agenda Interestingly when I first looked at the agendas this paper was there but at the time of writing this post it had been ...
    Greater AucklandBy Matt L
    7 days ago

  • Electorate Watch: West Coast-Tasman
    Continuing my series on interesting electorates, today it’s West Coast-Tasman.A long thin electorate running down the northern half of the west coast of the South Island. Think sand flies, beautiful landscapes, lots of rain, Pike River, alternative lifestylers, whitebaiting, and the spiritual home of the Labour Party. A brief word ...
    Nick’s KōreroBy Nick Rockel
    7 days ago

  • Big money brings Winston back
    National leader Christopher Luxon yesterday morning conceded it and last night’s Newshub poll confirmed it; Winston Peters and NZ First are not only back but highly likely to be part of the next government. It is a remarkable comeback for a party that was tossed out of Parliament in ...
    PolitikBy Richard Harman
    7 days ago

  • 20 days until Election Day, 7 until early voting begins… but what changes will we really see here?
    As this blogger, alongside many others, has already posited in another forum: we all know the National Party’s “budget” (meaning this concept of even adding up numbers properly is doing a lot of heavy, heavy lifting right now) is utter and complete bunk (read hung, drawn and quartered and ...
    exhALANtBy exhalantblog
    1 week ago

  • A night out
    Everyone was asking, Are you nervous? and my response was various forms of God, yes.I've written more speeches than I can count; not much surprises me when the speaker gets to their feet and the room goes quiet.But a play? Never.YOU CAME! THANK YOU! Read more ...
    More Than A FeildingBy David Slack
    1 week ago

  • New Zealand resumes peacekeeping force leadership
    New Zealand will again contribute to the leadership of the Multinational Force and Observers (MFO) in the Sinai Peninsula, Egypt, with a senior New Zealand Defence Force officer returning as Interim Force Commander. Defence Minister Andrew Little and Foreign Affairs Minister Nanaia Mahuta have announced the deployment of New Zealand ...
    BeehiveBy beehive.govt.nz
    5 hours ago

  • New national direction provides clarity for development and the environment
    The Government has taken an important step in implementing the new resource management system, by issuing a draft National Planning Framework (NPF) document under the new legislation, Environment Minister David Parker said today. “The NPF consolidates existing national direction, bringing together around 20 existing instruments including policy statements, standards, and ...
    BeehiveBy beehive.govt.nz
    8 hours ago

  • Government shows further commitment to pay equity for healthcare workers
    The Government welcomes the proposed pay equity settlement that will see significant pay increases for around 18,000 Te Whatu Ora Allied, Scientific, and Technical employees, if accepted said Health Minister Ayesha Verrall. The proposal reached between Te Whatu Ora, the New Zealand Public Service Association Te Pūkenga Here Tikanga Mahi ...
    BeehiveBy beehive.govt.nz
    9 hours ago

  • 100 new public EV chargers to be added to national network
    The public EV charging network has received a significant boost with government co-funding announced today for over 100 EV chargers – with over 200 charging ports altogether – across New Zealand, and many planned to be up and running on key holiday routes by Christmas this year. Minister of Energy ...
    BeehiveBy beehive.govt.nz
    1 day ago

  • Safeguarding Tuvalu language and identity
    Tuvalu is in the spotlight this week as communities across New Zealand celebrate Vaiaso o te Gagana Tuvalu – Tuvalu Language Week. “The Government has a proven record of supporting Pacific communities and ensuring more of our languages are spoken, heard and celebrated,” Pacific Peoples Minister Barbara Edmonds said. “Many ...
    BeehiveBy beehive.govt.nz
    2 days ago

  • New community-level energy projects to support more than 800 Māori households
    Seven more innovative community-scale energy projects will receive government funding through the Māori and Public Housing Renewable Energy Fund to bring more affordable, locally generated clean energy to more than 800 Māori households, Energy and Resources Minister Dr Megan Woods says. “We’ve already funded 42 small-scale clean energy projects that ...
    BeehiveBy beehive.govt.nz
    4 days ago

  • Huge boost to Te Tai Tokerau flood resilience
    The Government has approved new funding that will boost resilience and greatly reduce the risk of major flood damage across Te Tai Tokerau. Significant weather events this year caused severe flooding and damage across the region. The $8.9m will be used to provide some of the smaller communities and maraes ...
    BeehiveBy beehive.govt.nz
    5 days ago

  • Napier’s largest public housing development comes with solar
    The largest public housing development in Napier for many years has been recently completed and has the added benefit of innovative solar technology, thanks to Government programmes, says Housing Minister Dr Megan Woods. The 24 warm, dry homes are in Seddon Crescent, Marewa and Megan Woods says the whanau living ...
    BeehiveBy beehive.govt.nz
    5 days ago

  • Te Whānau a Apanui and the Crown initial Deed of Settlement I Kua waitohua e Te Whānau a Apanui me...
    Māori: Kua waitohua e Te Whānau a Apanui me te Karauna te Whakaaetanga Whakataunga Kua waitohua e Te Whānau a Apanui me te Karauna i tētahi Whakaaetanga Whakataunga hei whakamihi i ō rātou tāhuhu kerēme Tiriti o Waitangi. E tekau mā rua ngā hapū o roto mai o Te Whānau ...
    BeehiveBy beehive.govt.nz
    6 days ago

  • Plan for 3,000 more public homes by 2025 – regions set to benefit
    Regions around the country will get significant boosts of public housing in the next two years, as outlined in the latest public housing plan update, released by the Housing Minister, Dr Megan Woods. “We’re delivering the most public homes each year since the Nash government of the 1950s with one ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Immigration settings updates
    Judicial warrant process for out-of-hours compliance visits 2023/24 Recognised Seasonal Employer cap increased by 500 Additional roles for Construction and Infrastructure Sector Agreement More roles added to Green List Three-month extension for onshore Recovery Visa holders The Government has confirmed a number of updates to immigration settings as part of ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Poroporoaki: Tā Patrick (Patu) Wahanga Hohepa
    Tangi ngunguru ana ngā tai ki te wahapū o Hokianga Whakapau Karakia. Tārehu ana ngā pae maunga ki Te Puna o te Ao Marama. Korihi tangi ana ngā manu, kua hinga he kauri nui ki te Wao Nui o Tāne. He Toa. He Pou. He Ahorangi. E papaki tū ana ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Renewable energy fund to support community resilience
    40 solar energy systems on community buildings in regions affected by Cyclone Gabrielle and other severe weather events Virtual capability-building hub to support community organisations get projects off the ground Boost for community-level renewable energy projects across the country At least 40 community buildings used to support the emergency response ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • COVID-19 funding returned to Government
    The lifting of COVID-19 isolation and mask mandates in August has resulted in a return of almost $50m in savings and recovered contingencies, Minister of Health Dr Ayesha Verrall announced today. Following the revocation of mandates and isolation, specialised COVID-19 telehealth and alternative isolation accommodation are among the operational elements ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Appointment of District Court Judge
    Susie Houghton of Auckland has been appointed as a new District Court Judge, to serve on the Family Court, Attorney-General David Parker said today.  Judge Houghton has acted as a lawyer for child for more than 20 years. She has acted on matters relating to the Hague Convention, an international ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Government invests further in Central Hawke’s Bay resilience
    The Government has today confirmed $2.5 million to fund a replace and upgrade a stopbank to protect the Waipawa Drinking Water Treatment Plant. “As a result of Cyclone Gabrielle, the original stopbank protecting the Waipawa Drinking Water Treatment Plant was destroyed. The plant was operational within 6 weeks of the ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • Govt boost for Hawke’s Bay cyclone waste clean-up
    Another $2.1 million to boost capacity to deal with waste left in Cyclone Gabrielle’s wake. Funds for Hastings District Council, Phoenix Contracting and Hog Fuel NZ to increase local waste-processing infrastructure. The Government is beefing up Hawke’s Bay’s Cyclone Gabrielle clean-up capacity with more support dealing with the massive amount ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • Taupō Supercars revs up with Government support
    The future of Supercars events in New Zealand has been secured with new Government support. The Government is getting engines started through the Major Events Fund, a special fund to support high profile events in New Zealand that provide long-term economic, social and cultural benefits. “The Repco Supercars Championship is ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • There is no recession in NZ, economy grows nearly 1 percent in June quarter
    The economy has turned a corner with confirmation today New Zealand never was in recession and stronger than expected growth in the June quarter, Finance Minister Grant Robertson said. “The New Zealand economy is doing better than expected,” Grant Robertson said. “It’s continuing to grow, with the latest figures showing ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • Highest legal protection for New Zealand’s largest freshwater springs
    The Government has accepted the Environment Court’s recommendation to give special legal protection to New Zealand’s largest freshwater springs, Te Waikoropupū Springs (also known as Pupū Springs), Environment Minister David Parker announced today.   “Te Waikoropupū Springs, near Takaka in Golden Bay, have the second clearest water in New Zealand after ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • More support for victims of migrant exploitation
    Temporary package of funding for accommodation and essential living support for victims of migrant exploitation Exploited migrant workers able to apply for a further Migrant Exploitation Protection Visa (MEPV), giving people more time to find a job Free job search assistance to get people back into work Use of 90-day ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • Strong export boost as NZ economy turns corner
    An export boost is supporting New Zealand’s economy to grow, adding to signs that the economy has turned a corner and is on a stronger footing as we rebuild from Cyclone Gabrielle and lock in the benefits of multiple new trade deals, Finance Minister Grant Robertson says. “The economy is ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • Funding approved for flood resilience work in Te Karaka
    The Government has approved $15 million to raise about 200 homes at risk of future flooding. More than half of this is expected to be spent in the Tairāwhiti settlement of Te Karaka, lifting about 100 homes there. “Te Karaka was badly hit during Cyclone Gabrielle when the Waipāoa River ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • Further business support for cyclone-affected regions
    The Government is helping businesses recover from Cyclone Gabrielle and attract more people back into their regions. “Cyclone Gabrielle has caused considerable damage across North Island regions with impacts continuing to be felt by businesses and communities,” Economic Development Minister Barbara Edmonds said. “Building on our earlier business support, this ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • New maintenance facility at Burnham Military Camp underway
    Defence Minister Andrew Little has turned the first sod to start construction of a new Maintenance Support Facility (MSF) at Burnham Military Camp today. “This new state-of-art facility replaces Second World War-era buildings and will enable our Defence Force to better maintain and repair equipment,” Andrew Little said. “This Government ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • Foreign Minister to attend United Nations General Assembly
    Foreign Minister Nanaia Mahuta will represent New Zealand at the 78th Session of the United Nations General Assembly (UNGA) in New York this week, before visiting Washington DC for further Pacific focussed meetings. Nanaia Mahuta will be in New York from Wednesday 20 September, and will participate in UNGA leaders ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • Midwives’ pay equity offer reached
    Around 1,700 Te Whatu Ora employed midwives and maternity care assistants will soon vote on a proposed pay equity settlement agreed by Te Whatu Ora, the Midwifery Employee Representation and Advisory Service (MERAS) and New Zealand Nurses Association (NZNO), Minister of Health Dr Ayesha Verrall announced today. “Addressing historical pay ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • New Zealand provides support to Morocco
    Aotearoa New Zealand will provide humanitarian support to those affected by last week’s earthquake in Morocco, Foreign Minister Nanaia Mahuta announced today. “We are making a contribution of $1 million to the International Federation of Red Cross and Red Crescent Societies (IFRC) to help meet humanitarian needs,” Nanaia Mahuta said. ...
    BeehiveBy beehive.govt.nz
    3 weeks ago

  • Government invests in West Coast’s roading resilience
    The Government is investing over $22 million across 18 projects to improve the resilience of roads in the West Coast that have been affected by recent extreme weather, Prime Minister Chris Hipkins confirmed today.  A dedicated Transport Resilience Fund has been established for early preventative works to protect the state ...
    BeehiveBy beehive.govt.nz
    3 weeks ago

  • Government invests in Greymouth’s future
    The Government has today confirmed a $2 million grant towards the regeneration of Greymouth’s CBD with construction of a new two-level commercial and public facility. “It will include a visitor facility centred around a new library. Additionally, it will include retail outlets on the ground floor, and both outdoor and ...
    BeehiveBy beehive.govt.nz
    3 weeks ago

  • Nanaia Mahuta to attend PIF Foreign Ministers’ Meeting
    Foreign Minister Nanaia Mahuta will attend the Pacific Islands Forum (PIF) Foreign Ministers’ Meeting, in Suva, Fiji alongside New Zealand’s regional counterparts. “Aotearoa New Zealand is deeply committed to working with our pacific whanau to strengthen our cooperation, and share ways to combat the challenges facing the Blue Pacific Continent,” ...
    BeehiveBy beehive.govt.nz
    3 weeks ago

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