Today’s Economic Roundup

Written By: - Date published: 10:16 am, March 10th, 2011 - 33 comments
Categories: business, economy, monetary policy - Tags:

The Reserve Bank has this morning slashed interest rates by 0.5%.

This is good news for mortgage-owners as the major banks have dropped their floating rates by the same amount.  It is less good news for drivers as this will continue the slide of the kiwi dollar, and the ever-rising oil prices will rise even faster in New Zealand dollar terms.  Expect to hit record petrol prices within a couple of weeks.

Bernard Hickey worries the cut will lock in inflation, with it already forecast to shortly rise over 5%.  Briscoes were already suggesting a lean year for importing retailers as people don’t buy and the rise in dollar cuts margins.

The Reserve Bank felt compelled to make the cut as the earthquake will mean that the likely 2 quarters of recession (last half of 2010, cause: National’s policies) will become a definite 3 quarters of recession as the earthquake wipes out any chance of improvement in the first part of this year.   And it’s also good news for our farmers with record commodity prices combining well with a weaker dollar meaning they get more NZ$ for their output.  Indeed a weaker dollar is generally better for the economy as it helps our exporters and discourages us from buying foreign goods – that’s why China keeps the yuan artificially low.

Away from that, with Auckland suffering a housing shortage, 15,000 families awaiting a Housing NZ home, and now 10,000 homes in Christchurch destroyed and needing replacing, Sovereign Homes has gone into liquidation due to a lack of new building.  Formerly employed skilled tradesmen are joining the exodus overseas.  Like a number of firms, Sovereign struggled through 2008 & 2009, only to be taken out by National’s double-dip recession.  Economists expect more firms to follow suit.

33 comments on “Today’s Economic Roundup”

  1. Sanctuary 1

    We’ve got an economy under the strain of surging inflation and a double dip recession. Bill English’s only “solution” seems to be the final solution.

    After three years of National we’ve got the most serious economic death spiral on our hands since the 1930’s. What is worse, Bill English and John Key are in total denial – they are actually claiming people are better off! Jesus wept.

    They have not got a single idea what to do next, beyond more from the Herbert Hoover playbook of economic disaster.

    • ZeeBop 1.1

      We have a housing shortage, a exodus of skills, a government that excels in adding extra uncertainty to the mix in their useless leadership of delusion and lies. Citizens make our economy and citizens are voting with their feet heading for the airport. National think nothing about raiding savings, pushing wages lower, pouring water on safety nets forcing employees to travel with a larger financial buffer and hold off buying a home. Oil prices are up again! National have done nothing for two years as everyone knew they would return! How can anyone still trust National?

  2. Colonial Viper 2

    Stagflation

    Strangely, many economists don’t think it can happen (according to their BS monetary theories), but those who do often see it as a result of a massive bubble bursting resulting in high unemployment yet increasing prices from the left over concentrated wealth of the bubble.

    http://en.wikipedia.org/wiki/Stagflation

    Bill and John won’t know how to cope with this situation. They have a couple of months tops to set things right or the next Labour Govt will have a shitload of firefighting work to do next year.

    • Rosy 2.1

      “Strangely, many economists don’t think it can happen”
      Weren’t they around in the 1970s?

      • Colonial Viper 2.1.1

        Yes you are quite correct. They didn’t think it could happen at that time, and then it did happen, (after which of course they had to concede it was a possibility) but their theories AFAIK are still extremely uncertain as to what caused it and whether it could happen again.

        The original idea was simple – in times of high unemployment, aggregate demand in the economy would fall, hence inflation would be low. That’s not the way it panned out in the 1970’s as you know. Rising fuel prices then (oil shocks) were a major contributor. And we may be facing oil shocks again in the next year.

        • Bored 2.1.1.1

          History never repeats….yeah right.

          The vast majority of economists follow the established orthodoxy, which I say cynically is very linked to their paymasters best interests. This gives a massive incentive to remain orthodox even when all evidence is to the contrary, selective vision being the symptom. Its been the same with tea leaf readers, chickens entrail examiners and other high priests since forever.

          One thing the economists are going to find very hard to get their thinking around is not only stagflation but also the end of “growth” as they currently measure it. Schumakers Small Is Beautiful is a good place for them to start.

        • The Economic Illiteracy Support Group 2.1.1.2

          In this case the cause of stagflation is easy to spot – there are hard limits being reached on essential economic inputs such as oil and metals, which is driving up import prices. This is effectively “imported inflation” which is 100% resistant to any Reserve Bank policies; the inflation due to demand outrunning supply in the world markets will occur no matter what the interest rates are in NZ.

          So we are stuck in a strange hybrid world – the external economy is inflating as demand outruns supply, but the internally traded NZ economy is heavily deflationary as local growth contracts; hence stagflation. The effect can be seen in your weekly grocery bill (or petrol tank fill) where anything that is traded internationally as a commodity (petrol, milk, wheat) or which depends on one of those commodities as an input is rapidly increasing in price. On the other side of the equation, the value of locally produced goods and services that are not critically dependent on commodities (say, a haircut) are decreasing in value as too much supply chases too little demand. This will continue until demand destruction due to high prices in the commodity markets occurs, and prices fall internationally, eventually flowing through to the local NZ economy.

          Thankfully Alan Bollard is not the extremist ideologue that Don Brash was, and seems to recognise that the internal deflationary challenges are where he should be focusing his attention, rather than trying to choke off imported inflation by increasing interest rates (which is an insane policy almost by definition).

          And just as an aside, the country’s experience over the last 12 months indicates that strongly rising prices for our international commodities (i.e. dairy) completely fail to flow through to the wider economy. The benefits of high dairy prices are felt amongst Fonterra’s 11,000 shareholders and their direct suppliers, but not much wider than that If commodity prices were a magic bullet, the country would not have gone into recession in the fourth quarter of last year.

          • Colonial Viper 2.1.1.2.1

            This will continue until demand destruction due to high prices in the commodity markets occurs, and prices fall internationally, eventually flowing through to the local NZ economy.

            Unfortunately when we talk about “demand destruction” surrounding dairy, hort and ag products we’re basically talking about starvation in many quarters of the developing world, combined with food poverty in the developed world. Yeah that should be an oxymoron I know.

            • The Economic Illiteracy Support Group 2.1.1.2.1.1

              Given that the current neoliberal orthodoxy only allows one kind of rationing – price – I think you’re entirely right. I do wonder what people in a few hundred years time will think of that kind of moral bankruptcy.

    • Draco T Bastard 2.2

      From what I can make out, stagflation is a result of the fact that fixed costs cannot be removed. This means that every business needs a minimum income to cover those costs but, with rising unemployment, more and more people spend less reducing turnover which means that profit on each individual item needs to be higher to get the same total return.

      Businesses are putting up prices to cover their fixed costs (which are also rising) as turnover reduces due to unemployment and laying off people to minimise their variable costs which reduces turnover.

      • Herodotus 2.2.1

        DTB not just fixed costs – So not only are nontradables going up e.g. power, rates. But also what our economy is based on oil, but this is compounded by the commencement of a devaluing currancy, which then negates what has previously kept inflation low – Imported consumables.
        In your “with rising unemployment, more and more people spend less reducing turnover which means that profit on each individual item needs to be higher to get the same total return.” there are only a very few industries that are able to do this – primarily The Banks, Power coys, potentially supermarkets . Around either 7:15 or just after 8:00 on ZB there was a spokesperson for NZIER and Bank economist talking about chances of OCR cut. The NZIER even commented regarding the banks ongoing profitable levels being maintained.

        • Colonial Viper 2.2.1.1

          Banks have become a parasitic leach on the economy.

          Even as the host turns anaemic and pale they keep sucking at the same rate.

  3. Pascal's bookie 3

    P1)We have an independent reserve bank tasked soley with monetary stability.

    P2)We have inflation running at around 4-5%

    P3)The official base rate was just cut to 2.5%, or about half the current inflation rate.

    ergo

    C) Is that the time? Goodness me.

  4. Bored 4

    For all you watchers of trends….the DOW Jones average which was at 14000 in October 2008, crashed to around 7000 in March 2009. With the bailout it has run back up to 12000 today.

    Oil in September 2008 spiked to US$120 per barrel…it has increased in the last month by 20% to US$105, with Brent Crude reaching US$118. Concurrently corn has increased in price during the last year by 93%.

    We in NZ are at the periphery of the empire. They sneeze, we catch colds. Draw your own conclusions.

  5. Salsy 5

    The company i work for just announced we are going to be forced to do a 4 day week. It feels like the beginning of the end – theyve been losing money for a while now. My partner works so if i lose my job we still survive plus I can freelance. What worries me the most, is all the people who have families and mortgages depending on that income, really sad…

    • Colonial Viper 5.1

      Can the company do better than it is at the moment?

      Could the employees buy it out for nothing and turn it into a worker owned co-op?

      • neoleftie 5.1.1

        ohhh that is interesting..actaully if the govt can loan money to the mediacorp then why not set up a fund at no or small interest and loan it for start-up worker Co-ops.
        Will look for productivity figures based on Co-ops vs traditional ownership models

  6. neoleftie 6

    well the oucome is looking increasingly dark – did you notice the bodylanguage and language of bollard – “Uncertainity”, “I hope” and “unknown” were some of the words used to discribe the current economic situation. Cutting the ORC is all well and good but wage rise pressure ( RAISED MIN WAGE ) and increased import prices are all causing inflationary effects.
    The system is very very unbalanced and spiraling downwards.
    Interest rate have fallen already in response to the fall in the ORC but this just wont stimulate internal business investment to the levels needed to stabilise the job market, decrease unemployment and in turn increase private spending. Businesses are struggling now, profits down,..spiraling out control..

    Tories are in a massive bind now..
    1) can they reprioritise spending without casuing unemplyment to rise? ( peter to paul )
    2) can they borrow more to prop up the economy? prudent advice suggests no.
    3) they cant cut the tax rake as there is a projected short-fall over the next 3 years.
    4) the cant print more – too many inflationary influencers now.

    options anyone???
    Look to cunliffe to expand the tax rake
    – tax short-term monetary flows.

    • Zaphod Beeblebrox 6.1

      If you adopt 4) you don’t need to worry about 2). The increased tax take due to improved spending will mean you don’t need to worry about 1) or 3) either.

      What about inflation you say? Well things like oil prices, food prices and insurance aren’t affected by anything they do- so whats the harm, its not like NZ businesses or strapped for work and customers at the moment.

    • Colonial Viper 6.2

      The Tories actually have some options, but they will not consider them seriously because they are ideologically incongruent with what National has already planned out.

      As someone else mentioned today, large portions of the inflation NZ is experiencing is imported inflation. Nothing we do onshore is going to affect that. Food prices are high because we are being forced to pay global rates, not because we are willing and able to pay more for milk. Changes in the OCR or printing money won’t change that. Petrol is high because we are being forced to pay global rates, not because we are able and willing to pay more for premium. Changes in the OCR or printing money won’t change that.

      Further, why should annual inflation of 5% or 6% be considered a problem, when unemployment at close to 7% is no big deal?

      What I would suggest –

      1) Tax and spend. Create direct employment, bump up benefits, expand services and facilities for citizens, lower the low band income tax rate. This will push money into the economy.

      2) Destroy debt. Print every adult NZ citizen a cheque for $1000 which can be used only to pay down bank and utilities debt incurred before 2011. (A slightly higher level of inflation destroys debt faster as well).

      3) Low interest, low fee loans to productive enterprises for capital equipment. (e.g. through KiwiBank)

      If it becomes necessary to control inflation.
      – Jack up the income tax rate on higher earners and middle income
      – Raise bank CFR
      – Increase compulsory element of KiwiSaver.
      – Make it harder to qualify for personal loans and loans for 2nd and 3rd properties.

      In general we also have to reduce our use of oil because oil is gonna be very expensive.

      edit – I see Zaphod you made some similar points

      • neoleftie 6.2.1

        Yes CV but tax who and at what rate? realistically.
        We cant print money as this is hugely inflationary, obviously we face enough inflationary measure offshore that is impacting on consumable prices lessening spending.
        This is hunker down / batten the hatches time for the private sector facing huge uncertainity.
        The state must step up expenditure but how?
        See we are in a bind even with the ten billion of offshore insuance money that is going to flood into the economy in about 6 – 18 months

        • Rosy 6.2.1.1

          A robin hood tax I’m still trying to see the downside on this. The financiers that caused the problem shoulder some of the burden.

          • neoleftie 6.2.1.1.1

            that Rosy is something that all those of the wide left totally agree about…ping the hotmoney men, the speculators who just take take take and do nothing for the common person apart from massive contributions in private spending.

            • Rosy 6.2.1.1.1.1

              Meanwhile we sit on our hands waiting for Labour to provide more background on their economic policy.

              • Herodotus

                A robin hood tax I’m still trying to see the downside on this. Whilst we have a base current aqcount deficit – Sure since Nat got in this has reduced from 8% to about 2%. Much of this is attributable to that NZ took heed of our debt problem, many individuals/families cut expenditure and reduced debt due to the foreseable looming issue that is here. Uncertainity of jobs.
                The issue is globalisation – NZ legistales for this tax – Multi nats look else where where their money earns greater returns for marginal risk (remember that as our debt levels increase and there are only a few industries that ean there way here) our risk profile increases and we pay premiums for offshore money. So there is potential exit offshore NZ then goes back to the late 70’s when govt had to control money flows. Farmers had to have offshore $ to buy cars machinery etc. How else could this effect us – lack of immigrants wanting to enter, lack of repatriation, reduced offshore technol;ogy e.g. up to date medical facilities. And unlike your link NZ is not a financial hub yet ( it will come JK has this as an aim ) with institutionalised banking system as London is.
                then there are multi nat who just float around the world utilising arbitage leverage to pick and choose what is best for them. e.g.
                http://www.bloomberg.com/news/2010-10-21/google-2-4-rate-shows-how-60-billion-u-s-revenue-lost-to-tax-loopholes.html
                defination of Arbitage Leverage for assistance
                http://en.wikipedia.org/wiki/Arbitrage
                Unfortunately we are price takers, having to accept whatever the world will offer to us, not price setters.
                And printing more $$ does not contribute much to the money supply. Think of all the kiwi$ that have been created out of nowhere bythe banks
                http://www.economicshelp.org/blog/inflation/money-supply-inflation/
                http://en.wikipedia.org/wiki/Money_supply
                Must be getting late and I am being lazy 2 wiki links in one post !!!

                • Rosy

                  These links make me even keener on a transaction tax limited to speculative financial transactions.
                  “The German and French governments are both pushing this; Austria and Spain are in support and today the European parliament threw its weight behind a tiny tax on financial transactions that could help us fulfil our commitments to tackling poverty and climate change, and help prevent such huge cuts in public spending…The European politicians voted on resolutions that concluded that if imposing the financial transaction tax worldwide was too difficult, then the EU should press ahead and impose it at a European level.”

                  Even the IMF believe financial institutions should be subject to new taxes, although it favours a bank levy and a financial activities tax on the sector’s profits and pay . Although as you point out banks can avoid profit-based taxes as Barclays has shown. A tax on speculative transactions would be far harder to avoid.

        • Zaphod Beeblebrox 6.2.1.2

          Govt bonds, low interest rates or printing money. What’s the diff?

          • neoleftie 6.2.1.2.1

            depends on the mix and inflationary affect

            • Zaphod Beeblebrox 6.2.1.2.1.1

              With low interest rates the money is borrowed from off-shore with the others you don’t have to borrow a cent. If you have excess human and economic capacity I really don’t see whats the problem with creating more of your currency.

              The US Fed did it and are they are hardly having horrendous inflationary problems.

              Japan responded to their economic slowdown in the 1990s by choking off government spending and they ended up with zero interest rates and virtual deflation- didn’t work out well for them.

        • Colonial Viper 6.2.1.3

          In an industrialised productive economy with high unemployment printing money is not inflationary.

          If that money is used to destroy debt for instance, and not put into general spending, it definitely is not inflationary.

          If that money is put into productive equipment, it definitely is not inflationary.

          You asked who we should tax. I would say that is the wrong question. The correct question is what should we tax. And the answer is – assets and land/property. Possibly also financial transactions.

          The state must step up expenditure but how?

          I already told you in this posts and above. Start cutting cheques for people to use. Start employing people directly. Get projects on the boil.

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    6 days ago
  • Speaker: Catalonia, interrupted
    Two years have now gone by since the Friday afternoon when my university-student son and I headed out of our Barcelona flat to a nearby primary school, designated as a polling station for the vote that was to be held the following Sunday: the referendum on Catalonia’s independence from Spain ...
    6 days ago
  • Sage Decisions Unwisely Over-Ruled.
    Overruled: The joint decision of Finance Minister, Grant Robertson (Labour) and his Associate Minister, David Parker (Labour) arguably the two most powerful ministers in Jacinda Ardern’s government, to grant OceanaGold the consents which Land Information Minister, Eugenie Sage (Greens) had earlier denied them, offers bitter proof of how hard fighting ...
    6 days ago
  • Government may ban voting in effort to get more people to do it
    More than double the number of people who will vote in this year’s local body elections have tried marijuana or urinated somewhere they shouldn’t have. As local elections look set for the lowest turnout in decades, with many regions falling well short of 40%, the Government is exploring a number ...
    The CivilianBy admin
    7 days ago
  • Woman: Deleted.
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    RedlineBy Daphna
    1 week ago
  • The Hollowest of Men Ride Again… SURPRISE!
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    exhALANtBy exhalantblog
    1 week ago
  • Barbaric
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    No Right TurnBy Idiot/Savant
    1 week ago
  • Fighting Monsters.
    Freedom Of Speech? The Säuberung (cleansing by fire) was the work of the German Student Union which, on 10 May 1933, under the watchful eye of the Nazi Reichminister for Propaganda, Joseph Goebbels, consigned 25,000 books to the flames in a ritual exorcism of “un-German thought”. According to the logic of the ...
    1 week ago
  • The next wave of kaupapa Māori politics: its constitutional, it must be.
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    EllipsisterBy Ellipsister
    1 week ago
  • Night lights of NZ from orbit
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    SciBlogsBy Duncan Steel
    1 week ago
  • Reporters deliver uplifting news to fleeing Japanese residents: they won’t miss any rugby
    New Zealand’s media is doing its part in Japan, reassuring those in the path of the storm that they won’t miss any rugby while away from their flooded homes. New Zealand sports reporters stationed in Japan for the Rugby World Cup have had the rare and heartwarming opportunity to inform ...
    The CivilianBy admin
    1 week ago
  • Government in contentious discussions about whether to put surplus on red or black
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    The CivilianBy admin
    1 week ago
  • Jordanian teachers’ successful strike has lessons for here
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    RedlineBy Admin
    1 week ago
  • Why some people still think climate change isn’t real
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    SciBlogsBy Guest Author
    1 week ago
  • The SIS unlawfully spied on Nicky Hager
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    No Right TurnBy Idiot/Savant
    1 week ago
  • October 2019 – Newsletter
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    Closing the GapBy Tracey Sharp
    1 week ago
  • And they wonder why we think they’re environmental vandals…
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    No Right TurnBy Idiot/Savant
    1 week ago
  • Climate Change: Paying the price in California
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    No Right TurnBy Idiot/Savant
    1 week ago
  • Let’s Hear It For Up-Close-And-Personal, Hard-Copy Democracy!
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    1 week ago
  • 10/10: World Day Against the Death Penalty
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    No Right TurnBy Idiot/Savant
    1 week ago
  • Talking Freer Lives: a Marxist gender-critical perspective from Australia
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    RedlineBy Admin
    1 week ago
  • Government spin accepted by union leadership
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    RedlineBy Daphna
    1 week ago
  • Forbidden Thoughts
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    RedlineBy Daphna
    1 week ago
  • Much love to my loyal Ukrainian readership
    For some reasons, my post about the mystery message from inside the Downing Street bunker seemed to catch people's attention.  Quite a lot of hits from NZ (unsurprisingly) and the USA (a bit more puzzlingly, but hi there, USAians!!) and 76 views from the Ukraine.I've celebrated my Ukrainian readers in ...
    1 week ago
  • Another day of bonkers GNUmours (again, sorry)
    First, almost a score of Labour MPs seem to have sent a letter to the EU basically begging them to accept a deal - any deal - just so Britain can get the Heck on with Brexiting instead of being trapped in limbo:
    To avoid no deal, deliver on the ...
    1 week ago
  • Labour vs working class immigrants – again!
    by Phil Duncan In 2016 the National-led government suspended the Parent Visa Category, through which migrants were able to bring their parents into New Zealand.  Since then over 5,700 people have been in immigration limbo, stuck on the visa wait list. Labour is now bringing back the scheme.  Well, sort ...
    RedlineBy Admin
    1 week ago
  • Speak Up for Women press statement: on Massey University and Feminism 2020
    The following was released yesterday (Tues, October 8) by the women’s liberation organisation Speak Up for Women. On 23 September Speak Up For Women announced that we would be holding an event at the Massey University Theaterette in Wellington. The event is called Feminism 2020. The intention of the event ...
    RedlineBy Admin
    1 week ago
  • Farmers support dirty rivers
    The government is currently consulting on plans to improve freshwater quality. So naturally, farmers oppose it:South Taranaki farmers are preparing to fight proposed national freshwater changes that some fear will bankrupt them. The Government's proposed National Environment Standard on Freshwater Management, released in September, rated the Waingongoro River as one ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • No-one cares about local government
    Yesterday was the last day for (reliably) posting your vote away in local body elections. Turnouts are mostly much lower than the equivalent time last year (Palmerston North is down 2.3%), and so naturally people are pushing their online-voting snake oil again. Because the online census worked so well, lets ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • The political ghosts of eugenics may matter more than the genetic
    This essay, on the political legacy of the eugenics movement, by Kenan Malik was originally published in the Observer on 6 October 2019, under the headline ‘The spirit of eugenics is still with us, as immigrants know to their cost’. Birth control. Intelligence tests. Town planning. Immigration controls. It’s striking how ...
    RedlineBy Daphna
    1 week ago
  • “Surplus” again
    Another year, and the government has announced another enormous government "surplus". And just like last year, its nothing of the sort. When we have people homeless and sick and hungry, when we have schools and hospitals still falling down, when we have underpaid public servants and infrastucture unmaintained or unbuilt, ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • Inside the Downing Street bunker
    James Forsyth at The Spectator (I know, I know) has tapped one of his contacts inside Number Ten for an insight into the Johnson administration's thinking and strategy.It is fascinating, unsettling and quite, quite mad.  Some key points:Negotiations have stalled and the Johnson administration are keen to blame the EU: ...
    1 week ago
  • Taking Control Of The Nation’s Story.
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    1 week ago
  • Are GNUs extinct?
    Another round of tactical talks about forming a Government of National Unity have come to nothing with the Liberal Democrats still refusing countenance putting Jeremy Corbyn into Downing Street:Opposition talks on Monday made little headway over when to try and vote down Boris Johnson's government and who might succeed him as ...
    1 week ago
  • Labour chickens out again
    When the government was elected, it promised to lead the way on electric vehicles, and specifically to make the government vehicle fleet emissions-free where-practicable by 2025.They lied:There are 15,473 vehicles in the government fleet and only 78 are electric. When the coalition Government came into power in late 2017, the ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • Transgender extremism, violence at work against feminist meeting at British Labour Party conference
    by Nick Rogers The debate around the meaning of sex and gender made an appearance at this year’s British Labour Party conference in Brighton. Women’s Place UK – an organisation that questions the demand that biological males who self-identify as woman should have access to women’s spaces, to all-women shortlists, ...
    RedlineBy Admin
    1 week ago
  • Rebelling in Wellington
    Yesterday I went down to Wellington to participate in the Extinction Rebellion protest. Its part of the latest global wave of XR actions, with actions happening all over the world. Some of those protests are massively disruptive: in Canada, XR is blocking major bridges, stopping people from getting to work. ...
    No Right TurnBy Idiot/Savant
    1 week ago
  • ‘The Workshop’ – Report: Talking about Poverty and Welfare Reform: A Guide to Strategies that ...
    The Workshop is a charitable trust for public good. The Workshop undertake research to find ways of communicating that will build support for the solutions that work to solve complex social and environmental problems. See their Report on Talking about Poverty and Welfare Reform below. ...
    Closing the GapBy Tracey Sharp
    2 weeks ago
  • Exclusive language
    What is language? We generally assume that it a facility unique to humans, allowing us to share what’s in and on our minds. We can tell of our plans, our past exploits, our knowledge. It also allows us to lie. And yet there are vast numbers of people we can’t ...
    SciBlogsBy Michael Corballis
    2 weeks ago
  • April 2018 – Submission to the NZ Govt Tax Working Group
    You can read our submission HERE ...
    Closing the GapBy Tracey Sharp
    2 weeks ago

  • Methane reducing cattle feed one step closer
    The Government today announced its support for a project that could substantially reduce agricultural greenhouse gas emissions from cattle. The announcement was made as part of Prime Minister Jacinda Ardern’s and Agriculture Minister Damien O’Connor’s visit to Nelson’s Cawthron Aquaculture Park. The Cawthron Institute will receive $100,000 from the Government’s ...
    BeehiveBy beehive.govt.nz
    5 hours ago
  • Bill to refresh superannuation system passes first reading
    Social Development Minister Carmel Sepuloni has welcomed the first reading of the New Zealand Superannuation and Veteran’s Pension Legislation Amendment Bill. “Every New Zealander has a stake in New Zealand Superannuation and Veteran’s Pension,” says Carmel Sepuloni. “They are our most common form of social assistance – nearly 800,000 New ...
    BeehiveBy beehive.govt.nz
    7 hours ago
  • Government announces next steps in fight against measles
    Babies in Auckland aged six months and over can receive a free vaccination and children will all have access to vaccines, Associate Minister of Health Julie Anne Genter announced today at Papatoetoe High School.   The move comes as part of Government efforts to step up the fight against measles. ...
    BeehiveBy beehive.govt.nz
    8 hours ago
  • Speech to the New Zealand Institute of International Affairs, Pacific Futures: Connections, Identity...
    ***Check against delivery*** Good morning. It is a pleasure to be here, and to have the honour of opening this important conference on behalf of the New Zealand Institute of International Affairs. Let us take the opportunity to acknowledge all the people who have helped make today possible, including our special ...
    BeehiveBy beehive.govt.nz
    9 hours ago
  • Police trial new response to high risk events
    Police Minister Stuart Nash says the safety of frontline officers and members of the public will be the focus of a new trial of specialist Police response teams in three of our largest urban centres. Police have this morning released details of an initiative to be trialled in Counties Manukau, ...
    BeehiveBy beehive.govt.nz
    9 hours ago
  • New awards celebrate fisheries sustainability
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    BeehiveBy beehive.govt.nz
    11 hours ago
  • More progress for women and we can do more
    Minister for Women Julie Anne Genter welcomes leaders in the private sector taking action on closing their gender pay gaps to ensure a fairer workplace for all New Zealanders. Ms Genter today launched a new report, Addressing the gender pay gap and driving women’s representation in senior leadership, from the Champions for ...
    BeehiveBy beehive.govt.nz
    15 hours ago
  • Proposals to curb environmental damage help our coasts and the oceans
    Government Ministers today welcomed the release of a marine environment report highlighting the four key issues affecting our oceans, estuaries and coastlines.  The release underlines the importance of government proposals to combat climate pollution, ensure clean freshwater, protect biodiversity, make land use more sustainable, and reduce waste and plastic.    Environment ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • New mental health facility for Waikato
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    1 day ago
  • 500 new te reo Māori champions in our classrooms
    The Government is making progress on its goal to integrate te reo Māori into education by 2025, with over 500 teachers and support staff already graduating from Te Ahu o te Reo Māori,  Associate Education Minister Kelvin Davis announced today. Kelvin Davis made the announcement at an awards ceremony in Waikanae today, for ...
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    1 day ago
  • Minister James Shaw welcomes 2018 Census first release
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    BeehiveBy beehive.govt.nz
    1 day ago
  • Driving transparency, ethics and accountability in government use of algorithms
    Minister for Statistics James Shaw today announced a public consultation on a proposed algorithm charter for government agencies. The charter has been developed by the Government Chief Data Steward in response to growing calls for more transparency in government use of data. Computer algorithms – procedures or formulas for solving ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • New Zealand and the Netherlands working together on climate change
    Agriculture Minister Damien O’Connor, Climate Change Minister James Shaw and visiting Dutch Prime Minister Mark Rutte co-hosted a business roundtable in Auckland this morning focused on working together to address climate change.  “The Netherlands is an important partner for New Zealand. We share a strong agricultural history. Sustainable agribusiness and ...
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    1 day ago
  • Protecting fairness for workers and businesses
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    1 day ago
  • Indigenous Freshwater Fish Bill Passes
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    BeehiveBy beehive.govt.nz
    2 days ago
  • Kiwis to take part in world’s biggest earthquake drill
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    2 days ago
  • Rising wages and low inflation supporting Kiwis
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    2 days ago
  • NZ economy strong amid global headwinds
    New Zealand’s economic strength and resilience has been recognised in a major update on the state of the global economy. The IMF’s latest World Economic Outlook released overnight shows a reduced global growth forecast over the next two years as issues like the US-China trade war and Brexit take hold. ...
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    2 days ago
  • Keeping New Zealanders safer with better counter-terrorism laws
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    2 days ago
  • Improved succession and dispute resolution core of Ture Whenua changes
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  • Speech to CTU Biennial Conference
    Let me first thank all the new unionists and members in the room. There is nothing more important to improving people’s working lives than people making the decision to care, to get on board and help, to take up the reins and get involved. Congratulations to you. You bring the ...
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  • Minister ensures continued Whenuapai flight operations
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    2 days ago
  • NZ joins Coalition of Finance Ministers for Climate Action
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  • Feedback Sought – Section 71 – Lyttelton Parking
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    3 days ago
  • Feedback Sought – Section 71 – Hagley Oval
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    3 days ago
  • CTU speech – DPM
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    3 days ago
  • Police Association Annual Conference
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  • New Zealand announces a further P-3 deployment in support of UN sanctions
    Minister of Foreign Affairs Winston Peters and Minister of Defence Ron Mark have announced the New Zealand Government’s decision to again deploy a Royal New Zealand Air Force P-3K2 (P-3) maritime patrol aircraft to support the implementation of United Nations Security Council (UNSC) resolutions imposing sanctions against North Korea. New ...
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    3 days ago
  • New Zealand deeply concerned at developments in north-east Syria
    Foreign Affairs Minister Winston Peters says New Zealand continues to have serious concerns for peace and stability in north-east Syria. “Recent reports that hundreds of ISIS-affiliated families have fled from a camp are deeply concerning from a humanitarian and security perspective”, Mr Peters says. “While we acknowledge Turkey’s domestic security ...
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    3 days ago
  • Government on high alert for stink bugs
    Biosecurity Minister Damien O’Connor is warning travelling Kiwis to be vigilant as the high-season for the crop-eating brown marmorated stink bug (BMSB) is under way. “We’re on high alert to stop BMSB arriving in NZ. The high season runs until April 30 and we’ve strengthened our measures to stop stink ...
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    3 days ago
  • Better protections for students in halls of residence
    The Government is moving swiftly to change the law to improve the welfare and pastoral care of students living in university halls of residence and other tertiary hostels. Cabinet has agreed to several changes, including creating a new mandatory Code of Practice that sets out the duty of pastoral care ...
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    4 days ago
  • New trapping guide for community and expert trappers alike
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  • Widening Access to Contraceptives Welcomed
    Associate Health Minister Julie Anne Genter welcomes PHARMAC’s move to improve access to long-acting reversible contraception (LARCs). PHARMAC has today announced it will fund the full cost of Mirena and Jaydess for anyone seeking long term contraception, lifting previous restrictions on access to Mirena. “I welcome women having greater choices ...
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    4 days ago
  • Major upgrade for Taranaki Base Hospital
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    5 days ago
  • Extra support for rural families
    Extra funding will allow Rural Support Trusts to help farming families, says Minister for Rural Communities and Agriculture Damien O’Connor. “I know that rural families are worried about some of the challenges facing them, including the ongoing uncertainty created by the Mycoplasma bovis outbreak. “Those concerns sit alongside ongoing worries ...
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    6 days ago
  • Howard Leaque Beekeeper programme graduation
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    1 week ago
  • Finance Minister to attend APEC meetings
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    1 week ago
  • Pacific languages are a source of strength, they ground us and build confidence
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    1 week ago
  • Major boost to support disabled people in sport and recreation
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  • More prefab homes to be built as red tape cut
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    1 week ago