Trump and the NZ housing bubble

Written By: - Date published: 7:26 am, November 16th, 2016 - 21 comments
Categories: capitalism, cost of living, debt / deficit, housing - Tags: , , , , ,

Our housing price bubble is sustained in part by lowish mortgage interest rates. We can borrow crazy sums (over long terms) and manage the repayments – in the short term – if nothing goes wrong.

There is every possibility that Trump’s economy is going to chuck a box of bricks on to this delicate balance. Here’s Bernard Hickey:

Opinion: 5 ways Trump could hurt us

Trump has also suggested he would renegotiate US Treasury debt, just as he renegotiated the junk bonds on his casino. If he did this, it would trigger a financial armageddon because US Treasury bonds form the foundation of the global financial markets and banking systems. Treasury yields or interest rates also form the basis of mortgage rates globally, so rising US Treasury yields would also put upward pressure on longer term mortgage rates here. …

A Herald piece:

The Economy Hub: How will Donald Trump influence our interest rates?

Donald Trump is set to have a profound effect on our mortgage rates.

Mark Lister, head of private wealth research at Craigs Investment Partners, told The Economy Hub he expects the Trump effect to see interest rates and inflation jump considerably.

“A lot of Trump’s policies are pro-growth, they will create inflation – it will mean higher interest rates and that will flow through to us in New Zealand,” Lister said.

Despite the Reserve Bank cutting the OCR to a record low of 1.75 per cent this morning, Paul Glass, executive chairman of Devon Funds, said it’s likely New Zealanders will pay more for their mortgages. …

Stuff:

New Zealand property market may be hit by Trump effect

New Zealanders can expect higher home loan interest rates, and more pressure on house prices, thanks to Donald Trump’s victory in the US presidential election.

ASB chief economist Nick Tuffley said how big the effect was would depend on how many of Trump’s policies he was able to enact. “There is no guarantee he will be able to do the dramatic tax cuts and spending he proposes.” But he said long-term interest rates could rise more quickly than they might otherwise, due to the potential for added inflation. …

The Mortgage Supply Company:

With Trump In Charge Our Home Loan Interest Rates Could Increase

…there has been a massive spike in US bond yields. We do not know if this is a “spike” or a permanent change; however this will be a concern to the banks that are sourcing wholesale funds on the world market as it will mean they will need to pay more for the money, which in turn means they will want to lift the home loan interest rates here. …

And so on and so on. Several of those pieces also discuss the possible inflationary effects of a wave of rich Trump / Brexit “refugees” moving to NZ, see especially this piece in The Herald.

New Zealaders are drowning in debt (Kiwis have failed to learn the lessons of their debt gorging ways, and Debt to income ratios ‘at record levels’). We’re highly vulnerable – here’s a warning piece form 2015:

Fears first-home buyers could suffer interest rate crunch

First-home buyers who stretch themselves to the limits of their budgets could feel the pinch when interest rates eventually rise, it has been warned. Interest rates are at historic lows but New Zealanders are still spending near-record proportions of their pay packet on interest costs. Rising house prices mean those purchasing property for the first time are taking on significant levels of debt.

Financial adviser Robert Oddy said that was a looming problem. Wage growth has stagnated in many sectors due to the absence of inflation and Oddy said people were vulnerable. “People are borrowing up to the maximum of their income for a mortgage and interest rates will go up at some stage. A lot of people are going to struggle.

Economist Shamubeel Eaqub said it was the kind of problem that would build over time.

“I wouldn’t expect interest rates to start rising for another 12 to 18 months. But the amount of interest we are paying relative to income is near record levels, and that’s with record low interest rates. As soon as rates rise there will be a massive impact on household budgets.”

He said many people could not cope if interest rates were to rise sharply. “But I don’t expect a sharp rise for many years to come because of the high levels of debt at the moment.” …

The bright orange trigger for that sharp rise in rates may have just arrived.

21 comments on “Trump and the NZ housing bubble”

  1. We live in interesting times.
    Who would have believed that a person like Trump could sweep to power and then we hope that he doesn’t have too much say in what happens to New Zealand; however in the times of a global economy there will no doubt be some effect here.

  2. adam 2

    I see Bernie is talking.

  3. adam 3

    Bernie Sanders: Now More Than Ever, It’s Our Revolution

  4. Draco T Bastard 4

    If he did this, it would trigger a financial armageddon because US Treasury bonds form the foundation of the global financial markets and banking systems.

    There’s actually a real simple solution to possible negative effects – Sovereign Money. Stop basing our money upon that of another nation. We have our own resources, our own skills – our own economy.

    And if every nation did that we could eliminate the poverty that is a result of the present system.

    • Henry Filth 4.1

      I’ve read “Sovereign Money” a couple of times, and whilst I can see how the model works at the national level, I’m having trouble understanding how international trade fits into the model.

      Do you think you could expand on this a little?

      Thanks

  5. AB 5

    Low interest rates are fuelling bubbles – housing, share-market. Virtually free money for anyone with existing assets as collateral (i.e. free money for the wealthy).
    This cheap money is supposed to go into productive investment that creates economic activity & real jobs. But that’s hard work and very last-century – now it’s much easier to chase tax-free, speculative capital gain.
    Meanwhile prudent savers who set aside something of their income from labour are trashed.

  6. Gosman 6

    Why would Trump renegotiate Treasury bills so that he has to pay higher yields on them? Surely he is only interested in reducing his costs not increasing them.

  7. Enough is Enough 7

    Although the state of the world economy scares the shit out of me, the Trump effect is exaggerated in my view.

    8 years ago we looked forward to the change that was coming to America as a result of the election of Obama.

    Today we fear the change that is coming to America as a result of the election of Trump.

    The hope that we had back then turned into nothing as result of the Washington machine.

    The fear we currently have is much the same.

    America has a true separation of powers. That was bad for Obama’s aspirations but will be good for curtailing Trump. Notwithstanding the Republican dominance of government, he will still struggle as he is in essence an independent and the career politicians on Capitol Hill will not simply roll over for him.

  8. Michelle 8

    enough is enough you cant blame Obama for not making the changes he promised the American system is set up so the rich and powerful white men maintain there power if you have the house and the senate you have to have a majority in both to pass legislation. Obama did not have this luxury and now we have the republicans who have an out right majority and we will see more inequalities in the USA under Trumpet who has blown his trumpet and it worked. To the poor whites that voted for him hard luck your gonna be poorer and worse of and to the stupid shallow American women that voted for him you have stepped back a hundred years so much for womens rights you have poo pooed on all of the gains made by women globally nothing to be proud of a very sad day but oh well Americans have spoken and as the saying goes you made your bed now you have to lie in it.

  9. Infused 9

    If you did the tiniest bit of research, you’d find the LVRs have kicked in some time ago and no, you can’t borrow large sums of money.

    If people were dumb enough not to think that interest rates will rise, then that’s their problem.

  10. Red 10

    Dow at record high contrary to prediction a trump win would crash the stock market, obviously investors and business are not that worried The chicken littles or Paul’s of this world should just settle down, sure something’s will go wrong some things will go right, the delusion is thinking one man can control it, trump is a capitalist, he has overseas interests, sure he will pair back a few things, try to deal with some inequality issues but he is not going to throw the baby out with the bath water, for all his bluster and rhetoric trump is no fool and I suggest he will go down a better president than Obama, who was a president who wanted be a celebrity vs trump who is a celebrity and wants to be president

  11. greg 11

    luckly i payed off the mortgage 2.5 years ago
    let the fun begin

  12. Nic the NZer 12

    This is very confusing, here are some relevant facts to orient from (with related quotes),

    “Trump has also suggested he would renegotiate US Treasury debt, just as he renegotiated the junk bonds on his casino.”

    Wouldn’t make too much of this. The US government largely owes its debt to itself that includes 16% Social Security investments, 13% Other us govt entities and 12% the Fed (which rebates its profits to the govt). That’s 41% of the US govt debt it simply pays itself the interest on,
    http://www.forbes.com/sites/mikepatton/2014/10/28/who-owns-the-most-u-s-debt/#5e2ee4ba1907

    “Treasury yields or interest rates also form the basis of mortgage rates globally, so rising US Treasury yields would also put upward pressure on longer term mortgage rates here.”

    Notably in many countries it has become obvious there is a link (dominated by the central bank) between cash rates and the interest rates on govt securities. Actual re-negotiating then could be enforced by the central banks dominating the interest rates on govt debt downwards anyway. In Japan investors pay the govt to borrow, because of a negative central bank rate. In the US the govt already pays extremely low rates due to the very low cash rate set by the Fed. In practice its easy to understand (imagine your a bank or financial institution), govt debt is a savings account, the cast rate is the current account. If the central bank sets a low (or negative) rate on your current account then the rate at which its better to put funds in the savings account changes (which effects the rate govt pays on its borrowings). Its also worth noting you buy US securities with US$ and they pay back US$, so if there is an effect it becomes diluted by traversing the Forex markets.

    “New Zealanders can expect higher home loan interest rates,”

    Ever noticed that loan rates in NZ pretty much track the OCR (with a margin)? Its not by accident its the essence of RBNZ policy. The 90-day rate is the rate NZ banks lend reserves to each other at.
    http://www.rbnz.govt.nz/statistics/key-graphs/key-graph-90-day-rate

    Later on there is some additional description incorporating this fact better,
    “But he said long-term interest rates could rise more quickly than they might otherwise, due to the potential for added inflation.”

    So the higher interest rates are something the RBNZ might impose in NZ given the higher inflation rate rises. The correctness of that prognosis fundamentally relies on how accurate the forecast of added inflation is of course.

    Shamubeel Equab is more clear on this,
    “He said many people could not cope if interest rates were to rise sharply. “But I don’t expect a sharp rise for many years to come because of the high levels of debt at the moment.””

    eg if the RBNZ doesn’t want mass defaults its unlikely to raise the OCR to begin with. The forecasts of central bank interest rate rises and ‘normality’ have of course been going on for many years now. In Japan they have been going on for decades actually.

  13. UncookedSelachimorpha 13

    An awful lot of analysis…

    I think it misses a crucial point – since when did Trump have a policy? He says stuff, then he says other stuff, and sometimes opposite stuff. Suggesting he is likely to do something in particular, is a bold prediction. He will promote Trump and his Trump relatives, that seems likely, but beyond that I don’t think you can be confident in anything!

  14. Murray Simmonds 14

    Somwhat oblique or off-topic, but there is a very interesting article on The Kondratieff Wave on this link:

    http://charleshughsmith.blogspot.co.nz/2016/11/now-is-winter-of-our-discontent-our-era.html

    The article is reposted on Zero Hedge this morning.

    Essentially it summarises cyclic rises and falls in the war-peace cycle since the American Civil war – periodic cycles of discontent of about 50-60 years. Trump presumably is a result of the fact that we seem to have hit a new trough.

  15. greg 15

    the other side of the coin is savers have been subsidizing borrowers .
    those that are over there heads cant say they weren’t warned debt should always be treated with respect and we have all heard the stories of homes being used as atm machines , rampant speculation sounds like the piper is knocking. 2008 gfc was a warning the bailout and low rates bought us time to pay down our debt.

Recent Comments

Recent Posts

  • CTU speech – DPM
    Ladies and gentlemen, NZCTU President Richard Wagstaff, members of respective unions – thank you for the invitation to speak to you today. This might be preaching to the choir, but the importance of trade unions in New Zealand’s historical arch is difficult to understate. And it is my belief that ...
    BeehiveBy beehive.govt.nz
    4 hours ago
  • Police Association Annual Conference
    "Let’s start by acknowledging that it has been a huge year. " Police Association Annual Conference James Cook Grand Chancellor Hotel Wellington Nau mai, haere mai. Tēnā koutou, tēnā koutou, ka nui te mihi, ki a koutou katoa. President of the Police Association, Chris Cahill; Members of the Association and ...
    BeehiveBy beehive.govt.nz
    5 hours ago
  • 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 ...
    BeehiveBy beehive.govt.nz
    8 hours 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 ...
    BeehiveBy beehive.govt.nz
    8 hours 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 ...
    BeehiveBy beehive.govt.nz
    9 hours 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 ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • New trapping guide for community and expert trappers alike
    The Minister for Conservation Eugenie Sage has launched a new comprehensive trapping guide for community trappers to help them protect our native birds, plants and other wildlife, at Zealandia in Wellington today. ‘A practical guide to trapping’, has been developed by the Department of Conservation (DOC), and was launched during ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • 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 ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Major upgrade for Taranaki Base Hospital
    The Government has approved the next stage of a major redevelopment of Taranaki Base Hospital, which will deliver new and improved facilities for patients. Health Minister Dr David Clark has announced details of a $300 million dollar project to build a new East Wing at the New Plymouth hospital. It ...
    BeehiveBy beehive.govt.nz
    2 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 ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Howard Leaque Beekeeper programme graduation
    Thank you for the opportunity to be here to present certificates to the 16 graduates who have completed a beekeeping course delivered by the Howard League.  Let us start by acknowledging Auckland Prison’s Deputy Prison Director Tom Sherlock, and Acting Assistant Regional Commissioner of Corrections Northern Region Scott Walker - ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Finance Minister to attend APEC meetings
    Finance Minister Grant Robertson leaves this weekend to attend the APEC Finance Ministers meeting in Santiago, Chile. Discussions between APEC Finance Ministers at the meeting will include the effects of the current global economic uncertainty, risks for APEC economies and sustainable development of the region. While at APEC Grant Robertson ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Pacific languages are a source of strength, they ground us and build confidence
    The Minister for Pacific Peoples Aupito William Sio says for Pacific people, language can be a source of strength. It can help ground us and give us confidence. When we speak them, our languages provide us with an immediate and intimate access to our identity and our story - and ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Major boost to support disabled people in sport and recreation
    The Coalition Government has announced an action plan to improve the wellbeing of disabled New Zealanders by addressing inequalities in play, active recreation and sport. The initiative includes training to develop a workforce that understands the needs of children and young people with a range of impairments, advocacy for fit ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • More prefab homes to be built as red tape cut
    The construction sector is being freed up to allow more homes to be built more quickly as the Government cuts through some of the red tape of the Building Act.  “Every New Zealander deserves a warm, dry, safe home and old inefficiencies in the Building Act make building slow and ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Further details of Prince of Wales and Duchess of Cornwall visit to New Zealand
    Prime Minister Jacinda Ardern has welcomed further details on the Prince of Wales and Duchess of Cornwall’s visit to New Zealand next month. Their Royal Highnesses will visit New Zealand from 17-23 November – their third joint visit to New Zealand and first in four years. They arrive in Auckland ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • O’Connor in Thailand to push for RCEP deal
    Minister of State for Trade and Export Growth and Minister of Agriculture, Damien O’Connor, heads to Thailand today to attend the final Regional Comprehensive Economic Partnership (RCEP) Ministerial meeting, as negotiations enter their final stages. “The RCEP Agreement would anchor New Zealand in a regional agreement that covers 16 countries, ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Young Pacific people can access earning and learning opportunities in Hawke’s Bay, Otago and South...
    Pacific young people living in the Hawke’s Bay, Southland and Otago regions will have access to support services that have proved successful in helping young people find new earning and learning opportunities. “Tupu Aotearoa is about changing Pacific young peoples’ lives. Our young people are talented, they are smart, they ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Protecting wellbeing – ACC HQSC Trauma Forum
    Introduction As the Minister for ACC I thank you all for the work that you do supporting New Zealanders in their literally most vulnerable moments. From those who hold people’s lives in their hands, to the people who research technique, technology and trends, your work is highly valued. A special ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • NZ economy in good shape – notes prepared for speeches in Christchurch
    Notes prepared for speeches in Christchurch – Wednesday 9 October 2019 Today’s topic, “trends and opportunities for the New Zealand economy,” is certainly one getting a great deal of commentary at the moment. Looking across the media landscape lately you’ll notice we aren’t the only ones having this discussion. There ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • World Mental Health Day a reminder of the importance of mental health work
    Minister of Health Dr David Clark and Associate Minister of Health Peeni Henare say this year’s World Mental Health Day theme is a reminder of why the Government’s work on mental health is so important. “This year the World Federation for Mental Health has made suicide prevention the main theme ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Cultural Ministers Meeting
    Associate Arts, Culture and Heritage Minister Carmel Sepuloni will represent the government at Australia’s Meeting of Cultural Ministers in Adelaide this week. “This year’s meeting is special because New Zealand is expected to become an International Member of the Meeting of Cultural Ministers at this Australian forum,” Carmel Sepuloni said. “The meeting is an opportunity to ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • 608 claims resolved by GCCRS in first year
    The Greater Christchurch Claims Resolution Service has resolved 608 insurance and EQC claims in its first year in operation, Minister Megan Woods has announced. The government service, which celebrates its first birthday today, provides a one stop shop to help Cantabrians still battling to get their homes repaired or rebuilt ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • NZ economy in good shape
    Today’s topic, “trends and opportunities for the New Zealand economy,” is certainly one getting a great deal of commentary at the moment. Looking across the media landscape lately you’ll notice we aren’t the only ones having this discussion. There has been an increasing amount of attention paid to the outlook ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • NZTA to refocus on safety following review
    The Government is acting swiftly to strengthen NZTA’s regulatory role following a review into the Transport Agency, and Ministry of Transport’s performance as its monitor, Transport Minister Phil Twyford said today. An independent review by Martin Jenkins has found NZTA failed to properly regulate the transport sector under the previous ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Joint Cooperation Statement on Climate Change between the Netherlands and New Zealand
    The Netherlands and New Zealand have a long-standing and close relationship based on many shared interests and values. We value the rule of law, our democracies, and multilateralism.  And we value our environment – at home and globally. Right now there are major global challenges in all of these areas – ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Government putting right Holidays Act underpayment in Health
    The Government is putting right a decade’s worth of underpayment to nurses, doctors and other health workers, says Health Minister Dr David Clark.  Initial sampling of District Health Boards payroll records has found that around $550-$650 million is owed to DHB staff to comply with the Holidays Act. It’s expected ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Government accounts show strong economy
    A strong surplus and low debt show the economy is performing well, and means the Government is in a good position to meet the challenges of global economic uncertainty. “The surplus and low levels of debt show the economy is in good shape. This allows the Government to spend more ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Ministers approve application to expand Waihi mine
    New applications from mining company OceanaGold to purchase land in Waihi for new tailings ponds associated with its gold mines have been approved. Minister of Finance Grant Robertson and Associate Minister of Finance David Parker considered the applications under the Overseas Investment Act. Earlier this year, applications from OceanaGold to ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Tuia 250 Voyage flotilla launches with tribute to tangata whenua
    New Zealanders in Tūranganui-a-Kiwa / Poverty Bay will witness Māori, Pākehā and Pacific voyaging traditions come together today as the Tuia 250 Voyage flotilla assembles for the first time, Māori Crown Relations: Te Arawhiti Minister Kelvin Davis says. “Tuia 250 is a national commemoration and an opportunity for honest conversations ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Visit to advance trade agenda with Europe and the Commonwealth
    Minister for Trade and Export Growth David Parker leaves tomorrow for Dubai, London and Berlin for a series of meetings to advance New Zealand’s trade interests.  In Dubai he will visit New Zealand’s Pavilion at Expo 2020 where construction is underway.  There he will meet Minister of State for International Cooperation, Her ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • More cancer drugs confirmed – even more on horizon
    Confirmation that PHARMAC will fund two new cancer drugs is further evidence of the good progress the Government is making to improve the treatment of New Zealand’s leading cause of death, Health Minister David Clark says. From 1 December PHARMAC will fund alectinib (Alecensa) for ALK positive advanced non-small cell ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Boost for women in high performance sport
    An additional $2.7 million has been announced for the Government Strategy for Women and Girls in Sport and Active Recreation on the first anniversary of the strategy’s launch. Sport and Recreation Minister Grant Robertson gave the opening address to the first Sport NZ Women + Girls Summit in Wellington today, ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Parent support to help retain skilled migrants
    As part of its work to ensure businesses can get the skilled workers they need, the Coalition Government is re-opening and re-setting the Parent Category visa programme, Immigration Minister Iain Lees-Galloway says. The move will: support skilled migrants who help fill New Zealand’s skills gaps by providing a pathway for ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Senior NZDF Officer to lead Peacekeeping Mission in the Sinai Peninsula, Egypt
    Minister of Defence Ron Mark has today announced Major General Evan Williams of the New Zealand Defence Force has been selected as the commander of a significant, longstanding peacekeeping mission in the Middle East. In December, Major General Williams takes over as Force Commander for the Multinational Force and Observers ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Nurses star as Govt rebuilds health workforces
    A record number of nurses are now working to deliver health services to New Zealanders as the Government’s increased funding and new initiatives rebuild key workforces start to show results, Health Minister Dr David Clark says. •    1458 more DHB nurses since the Government took office •    106 more midwives ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • New agricultural trade envoy appointed
    Farmer and former Nuffield scholar Mel Poulton has been appointed New Zealand’s Special Agricultural Trade Envoy, Minister for Trade and Export Growth, David Parker, and Minister of Agriculture, Damien O’Connor, announced today. The position supports key Government objectives, including raising the value of New Zealand agricultural goods and services. Mel is ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Pacific and Māori voyaging heritage celebrated for Tuia 250
    New Zealand’s Pacific and Māori voyaging heritage is acknowledged and celebrated today as waka of the Tuia 250 voyage flotilla arrive in Tūranga / Gisborne. “Today we celebrate Tangata Whenua, the first people of Aotearoa, and the triumphs of the voyaging tradition that brought our ancestors here from Polynesia 1000 ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Pacific languages are a root from which prosperity will grow
    “Fijian Language Week starts on Sunday and the theme reminds us how important it is that we each have something to anchor ourselves to, something that can help us pause and feel in control in a rapidly changing world,” says Minister for Pacific Peoples Aupito William Sio. “Family, culture, faith, ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • NZ Government establishes innovative, industry-focused Airspace Integration Trials Programme
    The Government is establishing an Airspace Integration Trials Programme to support the safe testing and development of advanced unmanned aircraft and accelerate their integration into the aviation system, Research, Science and Innovation Minister Megan Woods announced today. The Government will work with leading, innovative aviation industry partners to test and ...
    BeehiveBy beehive.govt.nz
    2 weeks ago