Trade deficit worst in seven years

Written By: - Date published: 11:49 am, April 28th, 2016 - 122 comments
Categories: debt / deficit, economy, national - Tags: , , ,

The economic geniuses of the National government strike again!

Trade deficit tipped to affect income and jobs

New Zealand’s trade deficit, at its worst in seven years, is likely to widen further and will hit jobs, an economist has warned.

Official figures show imports exceeded exports to the tune of $3.8 billion in the year to March, the largest shortfall since the $4.1b registered in April 2009.

Low dairy prices, because of a glut of milk, and weak demand from China were largely to blame.

Westpac Bank senior economist Satish Ranchhod expected the deficit would worsen and eventually have an impact on employment and income.

Add it to our record debt, our record pollution, our record housing unaffordability, our rising inequality, our terrible carbon emissions, and our record levels of who-gives-a-shit about facts.

122 comments on “Trade deficit worst in seven years ”

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  1. Paul 1
    28 April 2016 at 11:55 am

    Amazing how quiet the mum has been about the amount of debt our wonderful government has stacked up.
    Especially after all that fuss a year or so ago about getting into surplus.
    But then the owners of our media (and government) don’t want you or me to know that.

    This cartoon by Evans encapsulates so much.

    http://thedailyblog.co.nz/wp-content/uploads/2016/04/Screen-Shot-2016-04-28-at-11.23.13-am.png

    • Hanswurst 1.1
      28 April 2016 at 3:00 pm

      Amazing how quiet the mum has been […]

      Would that be the Herald’s daughter?

    • aerobubble 1.2
      28 April 2016 at 3:02 pm

      Free markets mean the meat we buy must be sold at world prices as its gone to China for processing. Our economy is stiffed by neo lib thinkers all worried about screwig the most profit out of despite the costs, a whole generation of consumers who are familiar with pulp sugarless fruit, tasteless chicken, ham, beef, etc, geez cardboard water salty bacon. Key has stuffed us all up, expecting us to accept worst than mediocre as normalitive.

  2. Ad 2
    28 April 2016 at 12:21 pm

    Good to see Robertson having a go at this.

    Dairy being replaced by tourism is like replacing debt+overwork+pollution with nearly-minimum wage jobs.

    Not a plan, and not even a positive economic shift.

    • Paul 2.1
      28 April 2016 at 12:25 pm

      Relying on tourism as one’s major growth industry as we move into the effects of increasing climate change seems madness to me.

    • Graeme 2.2
      28 April 2016 at 6:49 pm

      With the dollar rising back up tourism filling the gap could get tricky. With our geography the good yielding markets don’t work too well over 70c US

  3. roy cartland 3
    28 April 2016 at 12:23 pm

    Ok, a serious question:
    Are they actually completely useless, or do they actually not work for us the citizens? I.e. Fucking corrupt?

    Are they fools or knaves?

    • Paul 3.1
      28 April 2016 at 12:42 pm

      Knaves. Anyone prepared to sell their country for personal gain is corrupt. And corrupt is a very generous adjective to describe them. Only days ago, there were ceremonies all over the country commemorating the sacrifice of those who died to protect our sovereignty and independence. And this government not only signed the TPP – it led it for the US.

      If you want evidence of a knaves, Key worked for Merrill Lynch, part of the criminal banking system that destroyed the world economy in 2008.

      And some of them are fools as well. Sometimes, when you’re looking for people to shaft and betray their own country’s people, you don’t get the sharpest tools in the shed. Brownlee – incompetent in Christchurch, Lotu-Iiga – out of his depth with corrections. There are other examples.

      They are all knaves.
      Some are fools as well.

      And without the support of a compliant media, this gang would have been evicted a long time ago. Sadly the news coverage in New Zealand now resembles those faux democracies one finds around the world. Its fawning support of the Dear Leader would not look out of place in China, Honduras or Zimbabwe.

      The once proud independent South Pacific nation is a sad shadow of itself. And now we’re inviting the US navy here this year…..

      https://gpjanz.wordpress.com/2016/04/27/warships-are-coming-to-auckland-lets-organise-our-resistance-now/

      • Jones 3.1.1
        28 April 2016 at 12:55 pm

        Corrupt is generous. It is economic treason and it should be illegal.

        • Paul 3.1.1.1
          28 April 2016 at 1:22 pm

          Treason is a serious crime with serious penalties.

          • Johan 3.1.1.1.1
            28 April 2016 at 2:00 pm

            Perhaps we could get a petition started;-)))))

            • mikes 3.1.1.1.1.1
              29 April 2016 at 1:06 am

              If you’re talking treason then first in line would be Roger Douglas, closely followed by his pals Prebble and Caygill.

              NZ could have taken a far fairer and more thoughtful direction if not for Douglas who essentially sold our country down the road. He is a blight on humankind.

      • Draco T Bastard 3.1.2
        28 April 2016 at 3:23 pm

        Only days ago, there were ceremonies all over the country commemorating the sacrifice of those who died to protect our sovereignty and independence.

        Except that they actually didn’t. They died to protect the British Empire and the rulers of that Empire. Today they fight to protect the US Empire and the rulers of that empire.

        • Stuart Munro 3.1.2.1
          28 April 2016 at 5:18 pm

          In those days they thought of England as home, and enjoyed some privileges of empire. A lot of men were happy to go, but British staff incompetence fed them into the meat grinder. It was like Balaclava, asked to do the practically impossible our troops did at great cost, to find the objective wasn’t worth anything. We got our own officers for World War II, still took ‘impossible’ objectives like Monte Casino – but with less of a butcher’s bill.

    • Colonial Viper 3.2
      28 April 2016 at 1:30 pm

      Are they actually completely useless, or do they actually not work for us the citizens? I.e. Fucking corrupt?

      The trans-national 0.01% elite have way more in common with each other than with any of us.

      So yes, they typically work for each others interests, and not in the national interest.

    • AmaKiwi 3.3
      28 April 2016 at 6:40 pm

      Oravida paying us nothing for our water so they can make millions selling it in China should answer your question.

      Or did you forget about Judith Collins’ connection to Oravida?

  4. ge 4
    28 April 2016 at 12:30 pm

    There is no economy in NZ, just a taxpayer funded arrangement and just who pays tax?

    • Paul 4.1
      28 April 2016 at 12:45 pm

      Jane Kelsey makes a strong argument that all we have is a FIRE economy.
      Finance.
      Insurance.
      Real
      Estate.

      http://idealog.co.nz/etc/2015/07/book-review-fire-economy-jane-kelsey

      • Reddelusion 4.1.1
        28 April 2016 at 4:01 pm

        As you where pounding out post after post and link after link in January of the imminent global financial collapse ( I see they have stopped) your views or parroting your mates on economics and finance needs to be viewed sceptically in regard to any predictive value at all

        • International Rescue 4.1.1.1
          28 April 2016 at 4:20 pm

          They won’t stop. The left has been delusional for so long, they wouldn’t recognise reality if it bit them on the arse. And quoting Kelsey? Another chicken little.

          • lprent 4.1.1.1.1
            28 April 2016 at 6:35 pm

            Jane Kelsey looks at and assesses risks. This means assessing the risk of costs as well as the upside benefits. She specializes in looking at trade agreements.

            The problem has been that idiots at MFAT and several other places with implanted rosy eyed contacts only see $$$$$$$$ sales and never really look at the downside costs. A lot of the time it seems hard to see if they are even looking at the benefits to the country of the benefits to themselves. Like Tim Groser for instance.

            It is hard to find ANY person who is competent at looking at economic risks who doesn’t look at the TPPA and conclude that for NZ it is barely worth the paper as a trade agreement. That is why there has been lukewarm reactions to it from Helen Clark’s ‘better to be in a trade bloc than outside’ (hardly an endorsement of the value of the agreement) to Brian Easton’s bleak assessments of returns.

            In fact it’d take a complete mindless dork who lives on sound bites rather than thinking things through to make your kind of assessment. But then, that is the type of moronic troll that you are..

            • International Rescue 4.1.1.1.1.1
              28 April 2016 at 6:57 pm

              It’s really simple. Trade liberalises economies and liberates the poor. It opens opportunities for NZ to access a wider variety of good and services, and to sell more of ours to other countries. Kelsey et al are anti trade, and no deal would satisfy her. From the nonsensical claims about secrecy to the ill-informed raving abut sovereignty, Kelsey continues to earn the title I gave her. The benefits of the TPP to NZ are many and considerable.

              • Gabby …
                28 April 2016 at 7:07 pm

                Considerable?

                Go on then.

              • lprent …
                28 April 2016 at 7:26 pm

                Clearly you don’t read enough economic history. ‘Free trade’ in restricted trade blocs has been responsible for more economic damage than can easily be measured. Perhaps you should try reading about free trade in the colonial blocs of the 19th and early 20th centuries as a tool of exploitation of poorer economies. You may need a dictionary…

                Free trade does those things when you actually free up trade. Which is why I have supported all of the bilateral and WTO trade treaties up to the TPPA.

                However if you write restrictions into trade and tout it as ‘free trade’ it doesn’t. Like the TPPA which has way more costly restrictions of trade in it for the productive parts of the NZ economy (ie not farming) than any benefits.

                Here is the point based on actual experience rather than some callow moron like yourself sprouting ignorant dogma. For more than 30 years, I have focused on and been employed in exporting in the tech sector. Specifically writing software for both internet and for embedding in and controlling hardware.

                In these rapidly growing sectors, the only thing that the TPPA brings are extra costs and lengthy restrictions of trade. It will restrain the high margin and high employment areas of our export economy. It will also raise costs inside our domestic economy. Both of these will happen sooner rather than later.

                The only thing that the TPPA promises is some slightly better access to some markets for low margin commodity products that employ few people for poor wages. It plans to do even that later rather than sooner.

                It is a shit deal by any trade or economic standard. Rather than look at it closely, we have the economically and commercially ignorant fools like yourself sprouting ill-informed abstractions rather than looking at detail.

                • International Rescue …
                  28 April 2016 at 7:41 pm

                  Clearly you haven’t read what I posted. I didn’t write ‘Free’ trade because such a thing is rare. The TPP offers benefits topping several billion dollars per annum (there is research work being done constantly to update these estimates – see http://asiapacifictrade.org/?page_id=2) with minimal additional costs.

                  Opposition to the TPP is primarily due to jealousy that National negotiated it, and out and out anti-trade ludditism.

                  • Colonial Viper …
                    28 April 2016 at 10:34 pm

                    Nah those $B “benefits” will never occur, and even if they do, they will not flow through to the bottom 95%.

                    We’ve heard this bullshit before. The elite drive through these deals purely for their own benefit.

                    • International Rescue …
                      29 April 2016 at 9:57 am

                      We’ve heard of trade benefits before, and they happen. Even Helen Clark knows we need to be in.

                    • Hanswurst …
                      29 April 2016 at 10:07 am

                      @IR Yes, we will be screwed by the thugs who run the place. We will be doubly screwed if we refuse to pay them their cut. That is the sort of “benefit” that Clark was referring to. She made that clear as far as diplomacy would allow.

                  • Stuart Munro …
                    29 April 2016 at 11:56 pm

                    Piffle.

                    The Gnats have earned a thoroughly wretched reputation through their epic incompetence. Magical thinking like ‘the TPPA will make everything better’ doesn’t beat careful planning and execution.

                    We are a small economy – we cannot handle too much volatility. Our economy must be planned and planned carefully in a trading environment containing so many much larger players.

                    Je suis un rockstar is not a strategy for success for NZ’s economy, any more than it would be for an aspiring new Sumo wrestler. You have to build economic muscle before playing with the big boys.

                    • International Rescue …
                      30 April 2016 at 5:44 pm

                      NZ is recognised internationally as a model economy. Our current Gvt has a very clear plan for economic growth, and has given confidence to the business sector by articulating and following through on that growth agenda. It is interesting you chose the ‘rock star economy’ phrase, because that was coined not by a NZ politician but by a banking economist. Here’s what that same economist had to say just a month or so ago:

                      “You certainly were a rock star back then but you are still doing quite well considering the global back drop – considering we’ve seen equity markets fall across the world, China is slowing and dairy prices are falling, growth here is doing OK,”

                      http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11591736

                      The attitude of the ever diminishing left wing in this country to our excellent economic prospects remains an enormous source of humour for those of us who actually work in the real world.

                • International Rescue …
                  28 April 2016 at 7:43 pm

                  “In these rapidly growing sectors, the only thing that the TPPA brings are extra costs and lengthy restrictions of trade.”

                  How so?

                  • Colonial Viper …
                    28 April 2016 at 10:49 pm

                    Because the corporates want the TPP in order to protect their profits and their rights.

                    That’s why they consistently refuse to be governed by NZ laws or by the NZ parliament.

                    • Pat …
                      28 April 2016 at 11:37 pm

                      you must remember CV that our Aussie friend takes his cues from the RW funded think tanks in the land of the free and the home of the brave….or corporate central.

                    • International Rescue …
                      29 April 2016 at 9:58 am

                      I ask again…how so? Not left wing anti business hysteria.

                  • Colonial Viper …
                    29 April 2016 at 10:11 am

                    How so? What a dickhead. Stop wasting our time with your stalling and do your own research.

                    • International Rescue …
                      29 April 2016 at 6:15 pm

                      Why? LPrent made the claim. I’m certainly curious to know if that claim is correct. Aren’t you? Or are you believing everything you’re spoon fed?

                    • lprent []
                      29 April 2016 at 7:37 pm

                      WTF:CV and I usually disagree.

                      Are you a complete idiotic fuckwit?

                    • International Rescue …
                      30 April 2016 at 5:11 pm

                      LP…No. I’m still waiting for your answer.

              • Paul …
                28 April 2016 at 7:51 pm

                ‘Trade liberalises economies and liberates the poor.’

                Tell that to the people of Bangladesh.

                • Incognito …
                  28 April 2016 at 11:19 pm

                  Paul, stop being such a misery guts; sweat shops and child & slave labour are liberating from hopeless inhumane squalor or non-existence, surely … Some CEOs deserve sainthood or at least a knighthood. The latter is much easier to obtain and you don’t have to die first to have it bestowed on you. In fact, a terminal disease is known to speed up the process.

                  Feeling a little sarcy tonight …

                • International Rescue …
                  29 April 2016 at 9:43 am

                  Willingly. You think they were better off before?

              • Draco T Bastard …
                28 April 2016 at 9:26 pm

                Trade liberalises economies and liberates the poor.

                Then why is history replete with examples of it doing the exact opposite? NZ’s a great example unless you consider the increasing poverty of the last three decades the poor being ‘liberated’.

                • International Rescue …
                  29 April 2016 at 9:52 am

                  “Then why is history replete with examples of it doing the exact opposite?”

                  It isn’t. The standard of living across trading nations is far higher than in those that are isolationist. It is also far higher than it was before the advent of global trade.

                  • Draco T Bastard …
                    29 April 2016 at 10:52 am

                    The standard of living across trading nations is far higher than in those that are isolationist.

                    Nope. All the ‘first world’ nations developed their economies under very strict trade rules that made importing (but not exporting) very expensive. This meant that producing the product locally was more financially viable. In other words, living standards were increased because of protectionism and not trade.

                    As an example Africa had a faster increase of living standards before it was forced to become an open economy by the IMF. Afterwards the living standard went down somewhat and development has been mediocre ever since as all the money and resources get sucked out to the ‘rich’ countries. Same is happening in NZ.

                    See, it’s actually the development and diversification that improves living standards and trade actually prevents that. Thing is, if we had the level playing field that all economists and politicians say that we need trade wouldn’t happen at all.

                    You should read history some time and not just believe the myths propagated by ignorant shmucks.

                    • International Rescue …
                      29 April 2016 at 6:19 pm

                      “This meant that producing the product locally was more financially viable. In other words, living standards were increased because of protectionism and not trade.”

                      You really are living in lala land. Are you trying suggest that the people of the Soviet Union were better off than the people in the US? Or the people of North Korea than NZ’ers? Protectionism doesn’t, mean ‘no trade’. The west has been trading liberally for decades, and we have the overwhelming wealth to show for it.

                      If you honestly believe strict protectionism is the way forward, I invite you to visit North Korea. There aren’t too many other countries still stupid enough to agree with you.

                    • Draco T Bastard …
                      29 April 2016 at 9:48 pm

                      Are you trying suggest that the people of the Soviet Union were better off than the people in the US?

                      False equivalence. The USSR was trading quite extensively – they just weren’t trading with the West. The people of the USSR were worse off because they had a dictatorial system in place and the managers fucked up badly – same as our dictators are doing now actually.

                      The west has been trading liberally for decades, and we have the overwhelming wealth to show for it.

                      Yep, so liberally most Western nations still have significant subsidies and tariffs in place – oh, wait.

                      If you honestly believe strict protectionism is the way forward, I invite you to visit North Korea.

                      Last time I looked the DPRK was both a military dictatorship and under significant embargoes. In other words, their populace is heavily controlled, the managers are a bunch of fuckwits and even getting the basic knowledge into and across the country so that the people there could do something about is difficult.

                      So, tell me, why is the DPRK embargoed anyway?

                      If you honestly believe strict protectionism is the way forward,

                      Actually, I believe in free-trade but that to me means that all rules and regulations are equivalent and that they’re not designed to benefit the few. Under such conditions trade would be minimal as it should be.

                      Also, I believe in using trade to get the knowledge to develop and diversify our economy. Trade in knowledge would do the world far more good than trade in goods.

              • mikes …
                29 April 2016 at 1:20 am

                I hate to ‘credentialize’ but…

                According to Nobel prize winning economist (I know, I know) Professor Joseph Stiglitz, the TPP is the “worst trade deal ever.”

                People like him and Professor Kelsey have outstanding academic achievements, but more importantly have vast amounts of meticulously researched knowledge of such agreements and years upon years of experience with such agreements, yet ‘international rescue’ (thunderbirds,,,really?) you think you know better than them?

                Pull the other one mate..

                • International Rescue …
                  29 April 2016 at 10:04 am

                  “People like him and Professor Kelsey have outstanding academic achievements, ”

                  So? Has kelsey ever worked in the world of business? Has she ever engaged in any real trade activity outside the class room? Has she ever run a business? Earned an income from outside the trough? Read her bio. Kelsey is a hard left, anti trade, shrill, whose income is solely dependent on her continued denigration of trade and liberal economics.

                  • Draco T Bastard …
                    29 April 2016 at 9:51 pm

                    And the RWNJ comes in with the but, but, but, has she ever been in the REAL WORLD… bollocks because he’s just been shown to be an ignorant shmuck and has no argument.

                    • International Rescue …
                      30 April 2016 at 5:37 pm

                      No, just questioning the credentials of a professional trougher with zero real world experience to cast her doom and gloom on those of us who actually earn a living, employ people, make money for the country, etc etc.

                  • Incognito …
                    30 April 2016 at 9:44 pm

                    To find Jane Kelsey’s credentials you can visit her profile on the University of Auckland website: https://unidirectory.auckland.ac.nz/profile/j-kelsey

                    I’ll leave it to you to make your own value judgements or to change your mind on whether she’s “a professional trougher with zero real world experience” whatever all that means.

                    I am always deeply touched by people who marginalise, ridicule and seemingly despise other people because of lack of “real world experience”, they never “worked in the world of business”, or never “engaged in any real trade activity outside the class room”. I presume this means teachers, nurses, doctors (unless self-employed, of course), public servants, politicians, for example, but not tax lawyers, bankers, consultants, accountants, real estate agents, mortgage & insurance brokers, and the likes.

                    • International Rescue …
                      2 May 2016 at 11:14 am

                      Good try, but no. Apart perhaps from politicians, particularly Labour ones. So let me use the example of teachers to show you what I mean. Teachers engage in the real world, and experience real world problems every day. They are also accountable for their performance, as are the other professions you noted. Tax lawyers, banker, accountants etc earn a living off their own efforts in their own area of expertise. They are owed an income by and from no-one. Ms Kelsey, on the other hand comments from her ivory tower on matters of the economy and trade in which she has never participated. This is academia at it’s worst.

                  • Incognito …
                    8 May 2016 at 12:28 am

                    at International Rescue 2 May 2016 at 11:14 am:

                    That’s an interesting reply, thank you.

                    Prof. Kelsey has a tenured position but this doesn’t mean she’s not accountable at all.

                    You do know, I assume, that she also (successfully) applies for contestable & competitive grant funding to do research.

                    You do know, I assume, that she supervises students, which comes will all the academic accountability that you can imagine.

                    You do know, I hope, that Jane Kelsey is a member of and participates in NZ society and is not a hermit who lives in a desert. I struggle with your reference to “her ivory tower”; what does it really mean or imply?

                    This is academia at it’s worst. [sic]

                    This sounds like you have jumped on the anti-intellectual bandwagon for no other reason than that it suits your view of the World. As I said before, you’re free to make your own value judgements but they won’t get you far in a debate with reasonable and rational people.

                    • International Rescue …
                      8 May 2016 at 10:06 am

                      I know all of that, but do you seriously think I’m going to be impressed with her ‘supervising other students’ and receiving ‘contestable grants’? Do you seriously think this makes up for a total absence of ANY real world experience in the subject she purports to be an expert?

                      My judgement is not based on her academic experience but her total lack of practical experience. That makes her dangerous. And I have the same opinion about right wing academics.

                  • Incognito …
                    8 May 2016 at 12:12 pm

                    @ International Rescue 8 May 2016 at 10:06 am:

                    I find it puzzling why you chose to ignore the points I addressed in my reply.

                    For example, you wrote “They [teachers] are also accountable for their performance, as are the other professions you [that’ll be me] noted.”

                    My reply was that academics are also accountable for their performance and operate in a contestable and competitive environment but somehow you missed or ignored this!?

                    You also wrote “Teachers engage in the real world, and experience real world problems every day.”

                    To this I replied that professors (and most academics) are teachers too, of students. This seemed to have escaped you too!?

                    I don’t expect you to be “impressed” with anybody’s credentials, just to give them due attention, which you won’t do for some reason!?

                    Lastly, I cannot fathom why Prof. Kelsey’s “total lack of practical experience” – as if she’s not from this planet or as if she gets all her “experience” from watching YouTube clips and Facebook posts – “makes her dangerous”!? Dangerous to what or whom and in what way?

                    • International Rescue …
                      8 May 2016 at 6:44 pm

                      “My reply was that academics are also accountable for their performance and operate in a contestable and competitive environment but somehow you missed or ignored this!?”

                      I didn’t ignore it – the comment is largely irrelevant. The ‘real world’ teachers are exposed to is that which effects their students and the substance of what they teach. Kelsey has never experienced trade, she’s never had to do a deal, sell a commodity, earn an income outside of the protection of academia. If you seriously think competing for grant monies is comparable to what export businesses experience day in and day out, you’re dreaming.

                      As for accountability, who has held her accountable for the nonsense she’s spouted on the TPP? No-one. Years of scaremongering, of exagerating costs and understating benefits, and she gets away with it.

                      Dangerous? Oh yes. Kelsey is advocating against trade arrangements that will significantly benefit NZ, providing foreign exchange earnings and jobs.

            • ropata 4.1.1.1.1.2
              28 April 2016 at 6:57 pm

              Best analysis I have seen (apologies for length)
              https://philaznz.wordpress.com/2016/04/27/one-more-shot-across-the-bow-of-tppa/

              While it is difficult to predict an actual dollar figure that could be attached to our exposure to ISDS cases, a single one could quite easily wipe out several years’ worth of net trade benefits. Even harder to measure, yet undeniable, is the loss of collective agency that comes as a direct result of subordinating the public good to private gain. And finally there is the creation of a new privileged class, with means at its disposal which are unavailable to New Zealand businesses, who are bound by New Zealand laws adjudicated in New Zealand courts. This is a truly abhorrent notion: that somehow the foreign investor’s desire for profit should prevail over our natural and sovereign right to manage our affairs as we see fit.
              …
              The holy grail at the end of this “trade” agreement is ostensibly more exports. This, of course, assumes that our trading partners represent a source of increasing demand. But the two largest ones are in the doldrums with no sign of a way out, and some of the others look like dominos about to fall. Simply put, the world in general is experiencing “Peak Credit” and the implications for any real economic growth globally are extremely poor. This means basing any forecast of benefits we may see from the liberalising effects of the TPPA on business as usual is naive. The reason so much of this agreement’s text and focus revolves around investment is simple: with the global decline of consumer-driven economic growth, those who are in a position to do so are now more interested in acquisition and control of assets which can be used to generate rents. The ISDS provisions in TPPA and similar multilateral treaties (TTIP, TISA) are a vehicle for removing barriers to this trend. We encourage this behaviour at our peril.

          • Incognito 4.1.1.1.2
            28 April 2016 at 11:02 pm

            You obviously don’t know the difference between quoting, citing, and referring to.

        • Paul 4.1.1.2
          28 April 2016 at 7:44 pm

          Have you noticed the heading of this post?
          The collapse will happen.
          Pay attention.
          Read widely.

          http://www.bloomberg.com/news/articles/2016-04-20/soros-says-china-s-debt-fueled-economy-resembles-u-s-in-2007-08

        • gnomic 4.1.1.3
          29 April 2016 at 2:35 am

          You still appear to be a demented idiot. Why not just go away? Surely there is some right wing nut job site where your spewings would be lapped up?

  5. Colonial Viper 5
    28 April 2016 at 1:31 pm

    Westpac Bank senior economist Satish Ranchhod expected the deficit would worsen and eventually have an impact on employment and income.

    I love these fucking Big Bank Orthodox Economists.

    The only economists allowed to speak in the media nowadays.

    What does he mean that our chronic trade deficit could “eventually” have an impact on employment and income???

    • Johan 5.1
      28 April 2016 at 1:57 pm

      “Mate she’ll be right”, after all we could always borrow another few billion dollars from the Chinese to keep us afloat until our economy starts to pick up. Don’t you have faith in the smiling assassin;-)))???

    • Nic the NZer 5.2
      28 April 2016 at 6:11 pm

      Thats plain english as far as i can see. There does seem to be some bewilderment introduced by the supporting text however.

      As stated 3.8 billion dollars of income left the economy over the last year. Unless something (hint govt deficit) replaces the country will lose that turnover in future periods likely meaning lower NZ income and employment turning over in the NZ economy.

      That should be clear to everyone here but unfortunately at the standard we are bombarded by left wing propaganda and judging by Johans comment the propaganda is winning.

      • lprent 5.2.1
        28 April 2016 at 7:12 pm

        Of course here we have the mindless economic parroting by unthinking right wing fools like yourself.

        Rather than looking at the issue being a macro economic issue for the whole of NZ, you need to look at it as being regional issue.

        The commodity export markets are affected, and mostly one particular part of that. Export ones based on IP seldom get affected by commodity prices because they aren’t selling low margin barely processed products.

        Since the latter employs a whole lot more people than the former, mostly in Auckland, the effects will tend to be quite regionally based.

        The reduced income will hit into the areas of the economy that rely on trickle feed from dairy sector. Even there, it will affect the areas with lots of recent (ie over the last decade or so) dairy that rely on a higher cost base to produce. So Canterbury, Southland, and other areas with high conversion rates of farms to dairy.

        That in turn will probably affect rural banking and the service industries in those areas. Sure there will be an effect in Auckland, but it will be pretty damn minor. Auckland derives much of it’s high margin income directly or indirectly from exporting high value products and services. The locals (unlike service parasites like google or facebook) actually pay taxes directly from profits or indirectly via wages and forgone export GST, which is more than you can say for most of the rural economy.

        From a rural downturn, the tax take is unlikely to be heavily affected. The numbers of people employed in the sector isn’t that large. The main problem is just going to be a loss of expectation of capital gains in rural land – which isn’t a bad thing.

        The biggest thing that it does is force the movement towards knowledge based exporting both rural and urban, rather than rural rentiers flogging off commodities into an open world market. That is a damn good thing for NZ over the medium and long term.

        Perhaps you should peddle your ignorant old-fashioned economics somewhere that can believe your crap?

        • Colonial Viper 5.2.1.1
          28 April 2016 at 7:32 pm

          Given that the trade deficit is a macro measure and hardly ever quoted on a regional basis, I don’t think you can blame Nic the NZer for viewing the macro perspective.

          Further the current account deficit, of which the trade deficit is one component, describes the net money loss from the NZ economy. Nic the NZer is spot on saying that money MUST be replaced (i.e. by either a government deficit or private borrowing) or the NZ economy will shrink by the net amount of money exported, cent for cent.

          Last comment. IMO Auckland is shielded from the down turn in the real economy by two factors – increasing private debt levels pumping money into the Auckland economy (i.e. via the property market) and increasing economic activity due to population growth.

          Earnings from Auckland’s high tech/export sector are fine and all, but how is it you can tell that Auckland as a region is not deeply in the red when it comes to its contribution to NZ’s trade deficit (or the more complete current account deficit).

          I reckon it might be.

          • Nic the NZer 5.2.1.1.1
            28 April 2016 at 7:42 pm

            Accounting is so last decade. Lprent has a new fangled economics to discuss here.

            • Colonial Viper 5.2.1.1.1.1
              28 April 2016 at 7:58 pm

              No idea how we are going to successfully steer our way through the next 10-20 years at this rate.

        • Nic the NZer 5.2.1.2
          28 April 2016 at 7:39 pm

          Thats the thinking mans left wing view is it? Are you sure your disaggregated regions ran a trade deficit to begin with? Considering much of our commodity production comes from the regions it seems unlikely they would have despite the country as a whole doing so to me.

          • Colonial Viper 5.2.1.2.1
            28 April 2016 at 8:07 pm

            These are the top 3 categories of imports into NZ by $$$:
            —-
            Main import commodities 2012 2007
            NZ$(million)
            Petroleum and products 8,366 5,785
            Mechanical machinery and equipment 6,071 5,230
            Vehicles, parts, and accessories 4,882 4,854
            —-

            Just guessing here that Auckland takes up the lions share of the petroleum and the vehicle imports which come into NZ. And maybe the mech machinery one too.

      • Paul 5.2.2
        28 April 2016 at 7:53 pm

        You support this level of economic mismanagement.

        http://www.nationaldebtclocks.org/debtclock/newzealand

        • Colonial Viper 5.2.2.1
          28 April 2016 at 8:11 pm

          Paul, I’ve been trying real hard to educate you mate.

          Unless NZ:

          1) Gets off a debt based money supply and goes to sovereign issuance of currency OR

          2) We change decades of poor performance and shift into a regular current account surplus

          then NZ MUST increase its public sector debt levels to compensate for the net monies flowing out of the country by allowing the Government to spend into the local economy.

          You want English to cut NZ government debt?

          It’s really easy.

          You slash government spending, you increase the tax take from households and busineses, and you put in place additional fines and fees around everything the public touches.

          Why not eh? Government debt will come down and you can call that good economic management, just like the neolibs do.

        • Nic the NZer 5.2.2.2
          28 April 2016 at 9:32 pm

          To answer your question in brief the govt deficit and debt is irrelevant. I would make many decisions different to National myself but would be quite far from worrying about the deficit because it does very little harm in itself. Trying to cut it almost always does more.

          Just as i have not finished putting the boot into lprent we might want to consider the impacts (in my old fashioned ignorant view). As a result of this we might see lower levels of polluting NZs water supplies in order to send our milk production overseas and make a few select cow cockies exceedingly wealthy. But that would require recognising that these people would be better employed doing something more nationally constructive than

        • Nic the NZer 5.2.2.3
          28 April 2016 at 9:56 pm

          … growing more cows and pouring more cowshit into our waterways. But that will almost certainly require that the govt be willing to find something more constructive to employ these under employed persons in doing it (because the market wont).

          So we could have what sounds a constructive plan or we could have a bit of a whine about the fact some foreigners want to hold onto (save) some of their NZ income (because we think it looks good politically).

          As usual lprent doesnt have a clue where i am coming from. What i am suggesting is probably closest to social credit (that well known right wing party).

    • Incognito 5.3
      28 April 2016 at 11:22 pm

      It’s a “gut feeling”.

  6. Ralf Crown 6
    28 April 2016 at 2:14 pm

    It will be worse, and it is not diary prices but incompetence. I am in China writing this. Yesterday I was at a huge supermarket, and I saw woman after women leaving with bags of flavoured yogurt in small 150 gram packages. The kids love it. All New Zealand is selling is boring 1 litre packages of milk, which is not used in China. Nobody buy. Wrong product – wrong packaging – wrong customer and the customer will not change their mind about what to buy. The other side is the money, it is not the price, but that that New Zealand government has made it is almost impossible to work on a small business level with China. “Money laundering” and “terrorism” are the Key (note spelling) words to put in so many restrictions that it scares everyone away. Open up New Zealand, stop licking USA down the back side. Asia is our real partner. Free trade is just not the goods, it is the free and unrestricted money flow.

    • Colonial Viper 6.1
      28 April 2016 at 2:20 pm

      Fonterra has major offices in China and has had for many years. If they haven’t caught on to how to market there by now, there is something very wrong.

      • lprent 6.1.1
        28 April 2016 at 7:29 pm

        Fonterra aren’t exactly a organisation that has shown much interest in being aware of markets and marketing. They appear to exist to sell commodity bulk products on a world market with no expertise displayed apart from that of production and processing.

        • Colonial Viper 6.1.1.1
          28 April 2016 at 7:39 pm

          All while their executives pay themselves top dollar for being such highly skilled bastards they couldn’t read future production forecasts out of Russia, India and South/Central America.

      • Ralf Crown 6.1.2
        29 April 2016 at 5:09 pm

        Correction – not ”offices” but “ivory towers”. Their knowledge stops at the paint on the office walls. Air-condition is too comfortable.

    • Draco T Bastard 6.2
      28 April 2016 at 3:20 pm

      Wow, you’re actually suggesting that we open up for money laundering and other crimes.

      • Ralf Crown 6.2.1
        29 April 2016 at 4:29 pm

        Are YOU suggesting we continue to make trade so difficult with these rules that it will not work. The trade deficit is the evidence. Money laundering is reported to be some 0.4% of money exchange, with the present regime we stop the other 99.6% as well, more or less. The criminals have already their own methods, it does not matter to them. It will matter to people’s welfare in New Zealand.

        • Draco T Bastard 6.2.1.1
          29 April 2016 at 9:54 pm

          Trade, under the Level Playing field that’s needed, essentially doesn’t exist. It’s not abut making it easy or hard but about making it so that each country is equivalent. Thing is, once that’s done then trade is no longer worthwhile.

          You’re not calling for free-trade – you’re demanding that we take it easier on the criminals.

          • Ralf Crown 6.2.1.1.1
            4 May 2016 at 6:32 pm

            It is called the “Saddam method”. We stop all trade so we are sure that no criminals get a chance. It is the same principle both Saddam Hussein and the USA is using. In a village there are one terrorist and 1,000 innocent. Let’s kill everyone, and then we can be sure the bad guy is gone too. Criminals have their own methods, and stopping trade is not the only way to catch them, but the most convenient and best PR. Free trade is the same as free money flow. One does not exist without the other. New Zealand cumulative trade deficit is ballooning. Want to keep your beer and benefit, change you mind.

            • Draco T Bastard 6.2.1.1.1.1
              4 May 2016 at 7:43 pm

              One does not exist without the other. New Zealand cumulative trade deficit is ballooning.

              That’s because we’re not developing our economy because of trade. Instead we’re trying to do more of the same, inefficient BS (literally).

              Free trade is the same as free money flow. One does not exist without the other.

              More bollocks from a fucken idiot who hasn’t got a clue WTF he’s talking about.

              We have all the money we could ever need right here right now – if the government fixed the monetary system. Made it non-dependent upon massive private borrowing and created it themselves and spent it into the economy building up productive infrastructure such as extraction and processing facilities, R&D, factories to use the results of that and supporting health, schooling (including tertiary) and many other government services. It’s also how the UBI would be funded.

              That money would then circulate in the economy supporting the limited private sector.

              And there you go, just explained why we don’t need trade.

              We’re presently losing it all because of the present system wealth accumulation system otherwise known as ‘capitalist free-trade’ that is anything but free. It was set up to enrich the already rich and it’s doing that and so destroying our societies and our environment and may end up with the total eradication of humans in the on going Sixth Great Extinction.

              Want to keep your beer and benefit, change you mind.

              The only bludgers are the rich and they most definitely should not keep their beer or their massive government subsidies.

  7. NZJester 7
    28 April 2016 at 2:25 pm

    Nationals top 5 priorities
    #1 Money
    #2 Money
    #3 Money
    #4 Money
    #5 Money

    If it is not Money they are not interested. That is money into their pockets and their friends pockets only. The rest of New Zealand is not a priority to them!

    • Anno1701 7.1
      28 April 2016 at 3:28 pm

      Nationals top priorities
      #1 Money
      #2 Money
      #3 Money
      #4 Money
      #5 Money
      #6 Ponytails….

      • Sorrwerdna 7.1.1
        28 April 2016 at 4:07 pm

        Labours top 5 priorities:
        #1 Attack National
        #2 Attack National
        #3 Attack National
        #4 Attack National
        #5 Attack National

        • Draco T Bastard 7.1.1.1
          28 April 2016 at 6:28 pm

          Your attempt to replicate the above humour is droll.

          • Colonial Viper 7.1.1.1.1
            28 April 2016 at 7:41 pm

            I would have put it down as

            #1 Get power
            #2 Get power
            #3 Get power
            #4 Get power
            #5 Get power

            • b waghorn 7.1.1.1.1.1
              28 April 2016 at 8:27 pm

              I would suggest
              #1 tried this didn’t work
              # 2 tried that didn’t work
              # 3 had good idea stolen by opposition
              #4 might try this what do you think?
              #5 fuck it let’s just hope national sink them selves

            • Incognito 7.1.1.1.1.2
              28 April 2016 at 11:32 pm

              Indeed, power to the power of five.

  8. esoteric pineapples 8
    28 April 2016 at 3:04 pm

    This government has managed to get rid of everything it calls “nice to have” from night classes to social services to the environment and we are still hugely worse off than when they came to power.

  9. Draco T Bastard 9
    28 April 2016 at 3:08 pm

    Green Party finance spokesperson Julie-Anne Genter said the trade deficit was unlikely to shrink unless New Zealand invested more in innovation like other small rich countries had.

    “They do this through active government regulation, reducing pollution, insuring that there’s adequate taxation policies.

    “So for example in New Zealand, a lack of a Capital Gains Tax is extremely bad for investment in the productive sector of the economy.”

    Now that’s a much better point.

  10. Glenn 10
    28 April 2016 at 4:19 pm

    Lactose intolerance by ethnicity.
    http://milk.procon.org/view.resource.php?resourceID=000661

    I’m surprised we sell any dairy products to many of our trading partners.

  11. dave 11
    28 April 2016 at 6:28 pm

    interesting how long before this happens ?????one day you have to pay it back
    https://youtu.be/j_ktN_h7-J4

    remember this article from 2014
    http://www.forbes.com/sites/jessecolombo/2014/04/17/12-reasons-why-new-zealands-economic-bubble-will-end-in-disaster/#641c1db8796c
    its happening

  12. North 12
    28 April 2016 at 8:41 pm

    The Fake Man Key has fucked us up. Total. And left us with Max. Of The Dead Eyes Just Like Daddy. Oh God that’s a strain must be discouraged. I’m speaking large here though not eugenically.

  13. The Other Mike 13
    28 April 2016 at 9:40 pm

    BM! Where are you with a cure?

    Sure you can fix this, stat!

    Hello?

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  • 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
    4 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
    4 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
    4 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
    4 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
    4 days 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
    5 days ago

  • A pallid shade of Green III
    Clearly Labour's focus groups are telling it that it needs to pay more attention to climate change - because hot on the heels of their weaksauce energy efficiency pilot programme and not-great-but-better-than-nothing solar grants, they've released a full climate manifesto. Unfortunately, the core policies in it - a second Emissions ...
    No Right TurnBy Idiot/Savant
    5 days ago

  • A coalition of racism, cruelty, and chaos
    Today's big political news is that after months of wibbling, National's Chris Luxon has finally confirmed that he is willing to work with Winston Peters to become Prime Minister. Which is expected, but I guess it tells us something about which way the polls are going. Which raises the question: ...
    No Right TurnBy Idiot/Savant
    5 days ago

  • More migrant workers should help generate the tax income needed to provide benefits for job seekers
    Buzz from the Beehive Under something described as a “rebalance” of its immigration rules, the Government has adopted four of five recommendations made in an independent review released in July, The fifth, which called on the government to specify criteria for out-of-hours compliance visits similar to those used during ...
    Point of OrderBy Bob Edlin
    5 days ago

  • Letter To Luxon.
    Some of you might know Gerard Otto (G), and his G News platform. This morning he wrote a letter to Christopher Luxon which I particularly enjoyed, and with his agreement I’m sharing it with you in this guest newsletter.If you’d like to make a contribution to support Gerard’s work you ...
    Nick’s KōreroBy Nick Rockel
    5 days ago

  • LINDSAY MITCHELL: Alarming trend in benefit numbers
    Lindsay Mitchell writes –  While there will not be another quarterly release of benefit numbers prior to the election, limited weekly reporting continues and is showing an alarming trend. Because there is a seasonal component to benefit number fluctuations it is crucial to compare like with like. In ...
    Point of OrderBy poonzteam5443
    5 days ago

  • BRIAN EASTON: Has there been external structural change?
    A close analysis of the Treasury assessment of the Medium Term in its PREFU 2023 suggests the economy may be entering a new phase.   Brian Easton writes –  Last week I explained that the forecasts in the just published Treasury Pre-election Economic and Fiscal Update (PREFU 2023) was ...
    Point of OrderBy poonzteam5443
    5 days ago

  • CRL Progress – Sep-23
    It’s been a while since we looked at the latest with the City Rail Link and there’s been some fantastic milestones recently. To start with, and most recently, CRL have released an awesome video showing a full fly-through of one of the tunnels. Come fly with us! You asked for ...
    Greater AucklandBy Matt L
    5 days ago

  • Monday’s Chorus: Not building nearly enough
    We are heading into another period of fast population growth without matching increased home building or infrastructure investment.Photo: Lynn Grieveson / The KākāTL;DR: Labour and National detailed their house building and migration approaches over the weekend, with both pledging fast population growth policies without enough house building or infrastructure investment ...
    The KakaBy Bernard Hickey
    5 days ago

  • Game on; Hipkins comes out punching
    Labour leader Chris Hipkins yesterday took the gloves off and laid into National and its leader Christopher Luxon. For many in Labour – and particularly for some at the top of the caucus and the party — it would not have been a moment too soon. POLITIK is aware ...
    PolitikBy Richard Harman
    5 days ago

  • Tax Cut Austerity Blues.
    The leaders have had their go, they’ve told us the “what?” and the “why?” of their promises. Now it’s the turn of the would be Finance Ministers to tell us the “how?”, the “how much?”, and the “when?”A chance for those competing for the second most powerful job in the ...
    Nick’s KōreroBy Nick Rockel
    6 days ago

  • MIKE GRIMSHAW:  It’s the economy – and the spirit – Stupid…
    Mike Grimshaw writes – Over the past 30-odd years it’s become almost an orthodoxy to blame or invoke neoliberalism for the failures of New Zealand society. On the left the usual response goes something like, neoliberalism is the cause of everything that’s gone wrong and the answer ...
    Point of OrderBy poonzteam5443
    6 days ago

  • 2023 SkS Weekly Climate Change & Global Warming News Roundup #38
    A chronological listing of news and opinion articles posted on the Skeptical Science Facebook Page during the past week: Sun, Sep 17, 2023 thru Sat, Sep 23, 2023. Story of the Week  Opinion: Let’s free ourselves from the story of economic growth A relentless focus on economic growth has ushered in ...
    Skeptical Science
    6 days ago

  • The End Of The World.
    Have you been looking out of your window for signs of the apocalypse? Don’t worry, you haven’t been door knocked by a representative of the Brian Tamaki party. They’re probably a bit busy this morning spruiking salvation, or getting ready to march on our parliament, which is closed. No, I’ve ...
    Nick’s KōreroBy Nick Rockel
    7 days ago

  • Climate Town: The Brainwashing Of America's Children
    Climate Town is the YouTube channel of Rollie Williams and a ragtag team of climate communicators, creatives and comedians. They examine climate change in a way that doesn’t make you want to eat a cyanide pill. Get informed about the climate crisis before the weather does it for you. The latest ...
    Skeptical Science
    1 week ago

  • Has There Been External Structural Change?
    A close analysis of the Treasury assessment of the Medium Term in its PREFU 2023 suggests the economy may be entering a new phase. Last week I explained that the forecasts in the just published Treasury Pre-election Economic and Fiscal Update (PREFU 2023) was similar to the May Budget BEFU, ...
    PunditBy Brian Easton
    1 week ago

  • Another Labour bully
    Back in June, we learned that Kiri Allan was a Parliamentary bully. And now there's another one: Labour MP Shanan Halbert: The Labour Party was alerted to concerns about [Halbert's] alleged behaviour a year ago but because staffers wanted to remain anonymous, no formal process was undertaken [...] The ...
    No Right TurnBy Idiot/Savant
    1 week ago

  • Climate Change: Ignoring our biggest problem
    Its that time in the election season where the status quo parties are busy accusing each other of having fiscal holes in a desperate effort to appear more "responsible" (but not, you understand, by promising to tax wealth or land to give the government the revenue it needs to do ...
    No Right TurnBy Idiot/Savant
    1 week ago

  • JERRY COYNE: A good summary of the mess that is science education in New Zealand
    JERRY COYNE writes –  If you want to see what the government of New Zealand is up to with respect to science education, you can’t do better than listening to this video/slideshow by two exponents of the “we-need-two-knowledge-systems” view. I’ve gotten a lot of scary stuff from Kiwi ...
    Point of OrderBy poonzteam5443
    1 week ago

  • Good news on the GDP front is accompanied by news of a $5m govt boost for Supercars (but what about ...
    Buzz from the Beehive First, we were treated to the news (from Finance Minister Grant Robertson) that the economy has turned a corner and New Zealand never was in recession.  This was triggered by statistics which showed the economy expanded 0.9 per cent in the June quarter, twice as much as ...
    Point of OrderBy Bob Edlin
    1 week ago

  • The Scafetta Saga
    It has taken 17 months to get a comment published pointing out the obvious errors in the Scafetta (2022) paper in GRL. Back in March 2022, Nicola Scafetta published a short paper in Geophysical Research Letters (GRL) purporting to show through ‘advanced’ means that ‘all models with ECS > ...
    Real ClimateBy Gavin
    1 week ago

  • Friday's Chorus: Penny wise and pound foolish
    TL;DR: In the middle of a climate emergency and in a city prone to earthquakes, Victoria University of Wellington announced yesterday it would stop teaching geophysics, geographic information science and physical geography to save $22 million a year and repay debt. Climate change damage in Aotearoa this year is already ...
    The KakaBy Bernard Hickey
    1 week ago

  • CHRIS TROTTER: Calling the big dog’s bluff
      For nearly thirty years the pundits have been telling the minor parties that they must be good little puppies and let the big dogs decide. The parties with a plurality of the votes cast must be allowed to govern – even if that means ignoring the ...
    Point of OrderBy poonzteam5443
    1 week ago

  • The electorate swing, Labour limbo and Luxon-Hipkins two-step
     Another poll, another 27 for Labour. It was July the last time one of the reputable TV company polls had Labour's poll percentage starting with a three, so the limbo question is now being asked: how low can you go?It seems such an unlikely question because this doesn't feel like the kind ...
    PunditBy Tim Watkin
    1 week ago

  • A Womance, and a Nomance.
    After the trench warfare of Tuesday night, when the two major parties went head to head, last night was the turn of the minor parties. Hosts Newshub termed it “the Powerbrokers' Debate”.Based on the latest polls the four parties taking part - ACT, the Greens, New Zealand First, and Te ...
    Nick’s KōreroBy Nick Rockel
    1 week 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
    2 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
    2 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
    3 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
    4 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
    6 days 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
    7 days 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
    1 week 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
    1 week 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
    1 week 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
    1 week 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
    1 week 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
    1 week 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
    1 week 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
    1 week 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
    1 week 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
    1 week 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
    2 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
    2 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
    2 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
    2 weeks ago

  • PREFU shows no recession, growing economy, more jobs and wages ahead of inflation
    Economy to grow 2.6 percent on average over forecast period Treasury not forecasting a recession Inflation to return to the 1-3 percent target band next year Wages set to grow 4.8 percent a year over forecast period Unemployment to peak below the long-term average Fiscal Rules met - Net debt ...
    BeehiveBy beehive.govt.nz
    3 weeks ago

  • New cancer centre opens in Christchurch
    Prime Minister Chris Hipkins and Minister of Health Dr Ayesha Verrall proudly opened the Canterbury Cancer Centre in Christchurch today. The new facility is the first of its kind and was built with $6.5 million of funding from the Government’s Infrastructure Reference Group scheme for shovel-ready projects allocated in 2020. ...
    BeehiveBy beehive.govt.nz
    3 weeks ago

  • Government invests in top of the south’s roading resilience
    $12 million to improve the resilience of roads in the Nelson, Marlborough and Tasman regions Hope Bypass earmarked in draft Government Policy Statement on land transport $127 million invested in the top of the south’s roads since flooding in 2021 and 2022 The Government is investing over $12 million to ...
    BeehiveBy beehive.govt.nz
    3 weeks ago

  • New Zealanders continue to support the revitalisation of te reo as we celebrate Te Wiki o te Reo Mā...
    Ko tēnei te wiki e whakanui ana i tō tātou reo rangatira. Ko te wā tuku reo Māori, e whakanuia tahitia ai te reo ahakoa kei hea ake tēnā me tēnā o tātou, ka tū ā te Rātū te 14 o Mahuru, ā te 12 o ngā hāora i te ahiahi. ...
    BeehiveBy beehive.govt.nz
    3 weeks ago

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