Work on privatisation under way

Written By: - Date published: 9:08 am, August 23rd, 2010 - 38 comments
Categories: privatisation - Tags:

For the last few months, the Standard has been politely asking Treasury for their papers on the sale of Crown assets.  To say they weren’t keen to share would be an understatement. After several OIAs and numerous deadline extensions we’ve managed to get a few papers dating back to the early days of the National government. You can read them here(9.6mb) but these are some of the key passages:

“While recognising Government policy, and the broad political support for retaining state control and ownership of current commercial assets, we think better performance will be achieved by moving towards greater private sector involvement in SOEs. There are a range of options for achieving this while retaining 100% government ownership.”

” put pressure on SOEs to increase their gearing (which as a side-effect will result in greater dividends being paid to the Crown). The way that Ministers think about SOE gearing and special dividends may link to the wider Crown balance sheet management issues that Ministers are interested in”

“There are strong arguments for the Government to put pressure on SOEs to increase their gearing ie encouraging SOEs to borrow more from the private sector and pay special dividends to the Crown.”

“Higher debt levels put increased pressure on SOEs to perform, by committing a fixed part of their future cashflow to debt servicing”

“Higher debt levels do put SOEs under greater financial stress and increase the chance they will require additional capital from the government”

“Shareholding Ministers and SOEs are likely to have different perspectives on the appropriate balance. SOEs will favour lower than optimal gearings as that increases the SOEs operational flexibility, and reduces the likelihood of having to ask shareholders for additional capital.”

“Without sustained and effective pressure from Ministers, SOEs will tend to err on the side of having too little debt on their balance sheets . We suggest that if persuasion continues to be ineffective Ministers should consider directing an SOE or SOEs to pay a special dividend.

Ministers have never directed an SOE over dividends in the past. Such a direction could undermine the Board’s accountability.”

“Which SOES?

Genesis, Meridian, Mighty River Power, NZ Post, Landcorp, and Solid Energy. Together, these six SOEs make up about 87% of the total SOE portfolio.”

And, from the cover letter:

“There are an additional eight documents covered by your request that I have decided to withhold in full [because they are] still under active consideration“.

It’s clear that this is the first stage of the privatisation agenda others have posted about on the Standard. The Government knows it is politically impossible right now to sell public assets straight out, so it is looking at how to sell the value while retaining the company. They’re calling it “private sector ‘involvement'” but it also provides significant new cashflow to the private sector, so it is privatisation in all but name.

Forcing SOEs to fund special dividends and take on private sector debt by issuing bonds effectively privatises the profit stream of public assets, while leaving the companies nominally in public hands. It’s like selling the pearl, leaving you the oyster shell, and telling you that you’re no worse off. With that privatisation ‘private sector involvement’ comes comes an imperative to maximise short-term profits – leading to asset stripping, and the risk that SOEs will need bailouts in the future. This is just what happened in  the 1980s, when the bailouts led to outright sales.

The eight withheld papers tell us the Government is actively working on this privatisation programme right now. One of the most disturbing aspects of this is that two of those papers examine why New Zealanders are opposed to privatisation. Treasury is just telling to government how to sell our assets, they’re trying to work out the propaganda for it too.

Is this surprising? No. This is National doing what National does. But let’s not pretend their goal is not to cut the value out of our public assets and give to their wealthy mates.   National is the party of privatisation. Their branding might change but their fundamental ideology does not.

38 comments on “Work on privatisation under way ”

  1. forcing the SOEs to sell bonds is like selling the family silver but keeping the box it was stored in, and telling New Zealand we’ve lost nothing

  2. Bored 2

    You might note that every one of the SOEs mentioned were built with state raised capital. Which begs the question, if that was a good model when they were built, what has changed? If capitalists were so keen upon having these things why did they not build them in the first place?

    The answer of course is that capitalists never commit cash to major infrastructural enterprises unless any risk is taken by the public via government. Banks rarely loan developement cash to private companies to build this type of asset. Its too risky. Now what capital wants is a way to clip the ticket on SOEs as no risk rentiers. These risk averse parasites disgust me.

    • Craig Glen Eden 2.1

      Agreed Bored If they want to enter the electricity market go a head build a power station and enter the market. Na to hard why not just pay national some money for their election fund and have National sell off the Nations assets. Screw the tax payer and make out that they are so smart because they have money like they actually earn t it.

  3. Zaphod Beeblebrox 3

    Shouldn’t this cash be going into exportproducing enterprises.

    • ZB 3.1

      Look that’s how the scam works. Work harder NZ to export more, means NZ
      can carry more foriegn owners who need a profit income stream going the other way.
      Its the whole chinese finger trap, the harder you pull to get your fingers out, the
      stronger the trap is.
      We need less foreign ownership, so we don’t have to work as hard to produce
      profits to pay our debts!
      National selling assets when the government books are very rosy is blantent
      corruption in my opinion. Government should be investing in infrastructure
      while cheap oil is still with us by nudging highly indebted foreigner companies
      into bankruptcy, instend National LOWERED their taxes! So they could continue
      paying their debts (undoubtly to themselves as the creditor in the foriegn domicile).
      We should be build stronger local economies where owners live next door, or
      next town over, not in China, Japan, or Europe (US is now bankrupt thanks to neo-liberal
      policies still being employed by Key and National).

      • Bored 3.1.1

        ZB, You are quite correct in what you say, the biggest issue we face as we sell off our incomes is that we lose our freedom. We become a nation of serfs to some party we saw fit to give our assets to.

        Another problem I have with “business” here is that the infrastructural costs do not just benefit citizens, they provide the necessary things that “business” too needs to operate. What these pillocks are saying is that state assets should be privatised so they dont have to pay the taxes etc….what the fools need to realise is that they will still be asked to pay for the usage by whoever buys them, and most likely a lot more.

  4. Bright Red 4

    Raising capital with a bond issue to expand an SOE is one thing. Forcing SOEs to pay special dividends to the Crown, which they in turn fund by issuing bonds (effectively, selling off their profit stream) – that’s privatisation

  5. just saying 5

    Excellent work.

    It’s almost worse than an outright buy-out because in addition to losing the value, the public is underwriting private failure if it occurs.

  6. Bright Red 6

    Silence from the Righties.

    It’s a hard one for them. Key and co have been lying to us, they are planning privatisation.

  7. Anne 7

    “Silence from the Righties.”
    Good grief! The Tory propoganda machine has been caught by surprise. Their research capabilities are going to be streteched on this one. They’ll need a few hours at least to figure out what spin to give their online bovver boys and girls.

    • luva 7.1

      IB has banned most of them

      [lprent: Not that many – they make far more noise than their actual numbers.

      We have accumulated 16 people marked as having permanent bans, two on bans that expire next month, and one that I’m awaiting an apology from for making unfounded assertions about the authors at The Standard.

      Banning is pretty much about behaviour, and around here most of the bad behaviour comes from a small but noisy minority. ]

  8. Draco T Bastard 8

    Who are the Treasury working for? Because it certainly doesn’t appear to be NZ as what they’re recommending there is no less than taxpayer subsidy of the private finance sector.

    • Tiger Mountain 8.1

      Treasury is acting like comprador capitalists as they used to be called, or more accurately the CCs representatives in Government. Dispensing corporate ‘welfare’ no less. Mr “Shithead’ and the treasury minions must be loving this. It will be interesting to see what their fanclub makes of it when they get their script together.

  9. Lanthanide 9

    So just to clarify what all this means, can someone confirm if I’ve got it right?
    – Government will ask SoE for a ‘special’ dividend, which the SoE will not have the funds to pay
    – SoE is forced to sell bonds on the private market to raise money required to return to the government
    – Private investors now own bonds in the SoE, which the SoE will have to pay out at a future date, out of their normal income stream.

    Once the bonds are paid back, the SoE would essentially be 100% government owned again, right? Of course that never happens, because like a ponzi scheme, they have to keep selling bonds to raise the money to pay back the old bonds that are maturing, not to mention fund any other additional ‘special’ dividends that the government has asked for as well.

    • Bright Red 9.1

      The key phrase is “Once the bonds are paid back”.

      When a bond matures, you have to find the cash from somewhere to pay it. Either the SOE would have to save even more for that time, or the government would have to repay its special dividend, or the SOEs would have to issue new bonds to repay the old ones – the latter would be normal practice. From the point of view of the govt’s books, you may as well consider the term of a bond indefinite unless a govt decides to pay down debt.

      • Lanthanide 9.1.1

        Right, that’s what I thought.

      • MrSmith 9.1.2

        Can’t we find a replacement for the word KEY please! I’m am sick to death of people in the MSM using it every chance they get, especially national lakys and having it mentioned here makes me feel ill.

    • Draco T Bastard 9.2

      You forgot one point – the government will be forced to loan more money at interest to keep the SoEs afloat and to put in the needed investment in infrastructure which will come from the private sector as well. As I said – nothing but taxpayer subsidy of the private finance sector. It’s nothing but a huge rort (ponzi scheme) that the Treasury is recommending.

      They should all be fired for this shit.

      • Bright Red 9.2.1

        yeah. borrowing costs money.

        you do it when there’s a good reason – like funding expansion that will give you returns greater than the cost of borrowing.

        But this is just selling off the profit-stream permanently in return for a one-off cash injection (which will probably be used for tax cuts for the rich)

  10. Zaphod Beeblebrox 10

    Don’t you see, this is about energy conservation. Shareholders demand SOE’s maximise profits, so they put up electricity prices to exhorbitant levels. Then we are all forced to freeze to death because we can’t afford the bills! Brilliant!

    Now normally you’d expect everyone to go out and put in photovoltaics- but somehow I don’t expect the SOE’s and the government to encourage that sort of individualism as it will affect the SOE’s profits.

    • DS 10.1

      To be fair, if the pensioners etc all freeze to death then you can ratchet down the Health budget as well.

      Cunning.

    • Bored 10.2

      Shareholders are dangerous creatures because they have only one goal. return on investment. Social or even national economic utility dont come into it. Therein lies the bankruptcy of the “free market” model, we can be as price effecient as sin whilst people who cant afford to be in the market freeze. Some costs we actually socialise because to not do so is highly inefficient as well as anti social.

    • loota 10.3

      I don’t get it. So SOE’s will be forced to take on more debt regardless of the business case (because more debt is the answer, uh, to what again?) and also pay the Govt more in terms of dividends. However to service that debt and to pay the Govt more, SOEs will have to extract more money from the community.

      Huh?

      So the NATs are saying forget making business decisions based on business cases; ideology will do thanks.

  11. BLiP 11

    Now we see what National Ltdâ„¢ meant when it said it was going to “deepen the markets”. And the result, sink or swim, suckers.

  12. ZB 12

    We breed the best dairy cows (invest and build core infrastructure and services) and then National
    get into power and sell the best milkers! Sorry even Fonterra isn’t that stupid. Fact is you can
    expose a market to outside investors without selling the silver. You sell a ownership right
    to the production for that year! Not the frigging dairy herd! National have no idea about
    business, only about harving them up and selling them low.

    Its the bottom of the market, why is National even considering this?

    • Bored 12.1

      Look ZB, let you into a little secret. The selling of cows on dairy farms to overseas interests is actually a smokescreen so we dont notice that the whole of the proposed John Key Memorial Cycleway falling into overseas private hands. Its a double whammy because foreign interests noticing the depletion of oil based urea fertilisers are going to mine the urea soaked soil beneath the cows. Brownlee put them onto it, hush hush. I also hear that the Cycleway will become an SOE shortly, the capital costs of construction being done with a public bond float.

  13. marsman 13

    Sneaky Nasty NACT.

  14. G Duff 14

    I believe there is a good opportunity for Local and Central Government to issue what I term “InfrastructureBonds” to help fund much needed infrastructure.

    Many retired people were badly let down by the collapse of the finance sector over the last four years and are looking for a safe place to invest their retirement savings. They want a fair return on their funds but above all want a return of their funds at the end of the investment term.
    For the SOE, or Local body, this does not require them to give up Govenment/Taxpayer or Ratepayer ownership or control of their enterprise, but allows them to raise sufficient capital for much needed expansion.
    While Rates or taxes should fund most of the budget, the local authorities from time to time require capital for new roads, sewerage works, or maybe in the case of Greater Auckland, a rail link to the Airport.
    These are the sorts of ventures which could be encouraged to the long term benefit of all.
    I prefer this option to that of Toll roads or Public-Private Partnerships. which tend to privatise the profits and socialize the losses.

    • loota 14.1

      Many retired people were badly let down by the collapse of the finance sector over the last four years and are looking for a safe place to invest their retirement savings. They want a fair return on their funds but above all want a return of their funds at the end of the investment term.

      What kind of ass-backwards capitalism is this?

      Creating an investment vehicle for the sakes of putting money into it without any plan of generating value? How do you think these bond holders are going to get paid their capital back plus interest? By SOE’s magicking $$$ out of think air?

      So lets start with answering the basic question of whether or not any SOEs actually need extra funds for investment now and what they are going to use those funds for – what ROI can they get for the funds they borrow.

      Coz if they can’t get a good ROI on the funds they are supplied with through the issuing of bonds its a very bad deal for them and a very bad deal for tax payers.

  15. tc 15

    Treasury appear to have a severe case of the double diptons.

    • Draco T Bastard 15.1

      They’ve been so well trained in the illogic of neo-liberalism that they fail to recognise when something is logically false.

  16. innocent bystander 16

    SOEs already borrow from th private sector. They also often pay dividends to the Crown. The question in relation to borrowing is one of degree ie are they incentivised to borrow at the optimum amount to deliver services to other SOEs or the public in the most efficient and effective way. The special dividend would be used to ensure the former where other incentivies haven’t worked. Read the report.

    Personally I find the selective quoting that some posters do here worrying becuase it dumbs down the debate rather than invigorating it with cogent arguments. I for one would a appreciate a well structured argument for or against Treasury’s advice rather than some half arsed political smear.

  17. David Lloyd 17

    Why don’t they privatise Treasury?

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    Eric Crampton writes – Kainga Ora is the government’s house building agency. It’s been building a lot of social housing. Kainga Ora has its own (but independent) consenting authority, Consentium. It’s a neat idea. Rather than have to deal with building consents across each different territorial authority, Kainga Ora ...
    Point of OrderBy poonzteam5443
    2 days ago
  • Coalition promises – will the Govt keep the commitment to keep Kiwis equal before the law?
    Muriel Newman writes – The Coalition Government says it is moving with speed to deliver campaign promises and reverse the damage done by Labour. One of their key commitments is to “defend the principle that New Zealanders are equal before the law.” To achieve this, they have pledged they “will not advance ...
    Point of OrderBy poonzteam5443
    2 days ago
  • An impermanent public service is a guarantee of very little else but failure
    Chris Trotter writes –  The absence of anything resembling a fightback from the public servants currently losing their jobs is interesting. State-sector workers’ collective fatalism in the face of Coalition cutbacks indicates a surprisingly broad acceptance of impermanence in the workplace. Fifty years ago, lay-offs in the thousands ...
    Point of OrderBy poonzteam5443
    2 days ago
  • What happens after the war – Mariupol
    Mariupol, on the Azov Sea coast, was one of the first cities to suffer almost complete destruction after the start of the Ukraine War started in late February 2022. We remember the scenes of absolute destruction of the houses and city structures. The deaths of innocent civilians – many of ...
    2 days ago
  • Babies and benefits – no good news
    Lindsay Mitchell writes – Ten years ago, I wrote the following in a Listener column: Every year around one in five new-born babies will be reliant on their caregivers benefit by Christmas. This pattern has persisted from at least 1993. For Maori the number jumps to over one in three.  ...
    Point of OrderBy poonzteam5443
    2 days ago
  • Should the RBNZ be looking through climate inflation?
    Climate change is expected to generate more and more extreme events, delivering a sort of structural shock to inflation that central banks will have to react to as if they were short-term cyclical issues. Photo: Lynn Grieveson / The KākāMy pick of the six newsey things to know from Aotearoa’s ...
    The KakaBy Bernard Hickey
    2 days ago
  • Bernard's pick 'n' mix of the news links
    The top six news links I’ve seen elsewhere in the last 24 hours, as of 9:16 am on Thursday, April 18 are:Housing: Tauranga residents living in boats, vans RNZ Checkpoint Louise TernouthHousing: Waikato councillor says wastewater plant issues could hold up Sleepyhead building a massive company town Waikato Times Stephen ...
    The KakaBy Bernard Hickey
    2 days ago
  • Gordon Campbell on the public sector carnage, and misogyny as terrorism
    It’s a simple deal. We pay taxes in order to finance the social services we want and need. The carnage now occurring across the public sector though, is breaking that contract. Over 3,000 jobs have been lost so far. Many are in crucial areas like Education where the impact of ...
    2 days ago
  • Meeting the Master Baiters
    Hi,A friend had their 40th over the weekend and decided to theme it after Curb Your Enthusiasm fashion icon Susie Greene. Captured in my tiny kitchen before I left the house, I ending up evoking a mix of old lesbian and Hillary Clinton — both unintentional.Me vs Hillary ClintonIf you’re ...
    David FarrierBy David Farrier
    2 days ago
  • How extreme was the Earth's temperature in 2023
    This is a re-post from Andrew Dessler at the Climate Brink blog In 2023, the Earth reached temperature levels unprecedented in modern times. Given that, it’s reasonable to ask: What’s going on? There’s been lots of discussions by scientists about whether this is just the normal progression of global warming or if something ...
    2 days ago
  • Backbone, revisited
    The schools are on holiday and the sun is shining in the seaside village and all day long I have been seeing bunches of bikes; Mums, Dads, teens and toddlers chattering, laughing, happy, having a bloody great time together. Cheers, AT, for the bits of lane you’ve added lately around the ...
    More Than A FeildingBy David Slack
    2 days ago
  • Ministers are not above the law
    Today in our National-led authoritarian nightmare: Shane Jones thinks Ministers should be above the law: New Zealand First MP Shane Jones is accusing the Waitangi Tribunal of over-stepping its mandate by subpoenaing a minister for its urgent hearing on the Oranga Tamariki claim. The tribunal is looking into the ...
    No Right TurnBy Idiot/Savant
    2 days ago
  • What’s the outfit you can hear going down the gurgler? Probably it’s David Parker’s Oceans Sec...
    Buzz from the Beehive Point  of Order first heard of the Oceans Secretariat in June 2021, when David Parker (remember him?) announced a multi-agency approach to protecting New Zealand’s marine ecosystems and fisheries. Parker (holding the Environment, and Oceans and Fisheries portfolios) broke the news at the annual Forest & ...
    Point of OrderBy Bob Edlin
    2 days ago
  • Will politicians let democracy die in the darkness?
    Bryce Edwards writes  – Politicians across the political spectrum are implicated in the New Zealand media’s failing health. Either through neglect or incompetent interventions, successive governments have failed to regulate, foster, and allow a healthy Fourth Estate that can adequately hold politicians and the powerful to account. ...
    Point of OrderBy poonzteam5443
    3 days ago
  • Matt Doocey doubles down on trans “healthcare”
    Citizen Science writes –  Last week saw two significant developments in the debate over the treatment of trans-identifying children and young people – the release in Britain of the final report of Dr Hilary Cass’s review into gender healthcare, and here in New Zealand, the news that the ...
    Point of OrderBy poonzteam5443
    3 days ago
  • A TikTok Prime Minister.
    One night while sleeping in my bed I had a beautiful dreamThat all the people of the world got together on the same wavelengthAnd began helping one anotherNow in this dream, universal love was the theme of the dayPeace and understanding and it happened this wayAfter such an eventful day ...
    Nick’s KōreroBy Nick Rockel
    3 days ago
  • Texas Lessons
    This is a guest post by Oscar Simms who is a housing activist, volunteer for the Coalition for More Homes, and was the Labour Party candidate for Auckland Central at the last election. ...
    Greater AucklandBy Guest Post
    3 days ago
  • Bernard's pick 'n' mix of the news links at 6:06 am
    The top six news links I’ve seen elsewhere in the last 24 hours as of 6:06 am on Wednesday, April 17 are:Must read: Secrecy shrouds which projects might be fast-tracked RNZ Farah HancockScoop: Revealed: Luxon has seven staffers working on social media content - partly paid for by taxpayer Newshub ...
    The KakaBy Bernard Hickey
    3 days ago
  • Fighting poverty on the holiday highway
    Turning what Labour called the “holiday highway” into a four-lane expressway from Auckland to Whangarei could bring at least an economic benefit of nearly two billion a year for Northland each year. And it could help bring an end to poverty in one of New Zealand’s most deprived regions. The ...
    PolitikBy Richard Harman
    3 days ago
  • Bernard's six-stack of substacks at 6:26 pm
    Tonight’s six-stack includes: launching his substack with a bunch of his previous documentaries, including this 1992 interview with Dame Whina Cooper. and here crew give climate activists plenty to do, including this call to submit against the Fast Track Approvals bill. writes brilliantly here on his substack ...
    The KakaBy Bernard Hickey
    3 days ago
  • At a glance – Is the science settled?
    On February 14, 2023 we announced our Rebuttal Update Project. This included an ask for feedback about the added "At a glance" section in the updated basic rebuttal versions. This weekly blog post series highlights this new section of one of the updated basic rebuttal versions and serves as a ...
    3 days ago
  • Apposite Quotations.
    How Long Is Long Enough? Gaza under Israeli bombardment, July 2014. This posting is exclusive to Bowalley Road. ...
    3 days ago
  • What’s a life worth now?
    You're in the mall when you hear it: some kind of popping sound in the distance, kids with fireworks, maybe. But then a moment of eerie stillness is followed by more of the fireworks sound and there’s also screaming and shrieking and now here come people running for their lives.Does ...
    More Than A FeildingBy David Slack
    3 days ago
  • Howling at the Moon
    Karl du Fresne writes –  There’s a crisis in the news media and the media are blaming it on everyone except themselves. Culpability is being deflected elsewhere – mainly to the hapless Minister of Communications, Melissa Lee, and the big social media platforms that are accused of hoovering ...
    Point of OrderBy poonzteam5443
    3 days ago
  • Newshub is Dead.
    I don’t normally send out two newsletters in a day but I figured I’d say something about… the news. If two newsletters is a bit much then maybe just skip one, I don’t want to overload people. Alternatively if you’d be interested in sometimes receiving multiple, smaller updates from me, ...
    Nick’s KōreroBy Nick Rockel
    4 days ago
  • Seymour is chuffed about cutting early-learning red tape – but we hear, too, that Jones has loose...
    Buzz from the Beehive David Seymour and Winston Peters today signalled that at least two ministers of the Crown might be in Wellington today. Seymour (as Associate Minister of Education) announced the removal of more red tape, this time to make it easier for new early learning services to be ...
    Point of OrderBy Bob Edlin
    4 days ago
  • Bryce Edwards: Will politicians let democracy die in the darkness?
    Politicians across the political spectrum are implicated in the New Zealand media’s failing health. Either through neglect or incompetent interventions, successive governments have failed to regulate, foster, and allow a healthy Fourth Estate that can adequately hold politicians and the powerful to account. Our political system is suffering from the ...
    Democracy ProjectBy bryce.edwards
    4 days ago
  • Was Hawkesby entirely wrong?
    David Farrar  writes –  The Broadcasting Standards Authority ruled: Comments by radio host Kate Hawkesby suggesting Māori and Pacific patients were being prioritised for surgery due to their ethnicity were misleading and discriminatory, the Broadcasting Standards Authority has found. It is a fact such patients are prioritised. ...
    Point of OrderBy poonzteam5443
    4 days ago
  • PRC shadow looms as the Solomons head for election
    PRC and its proxies in Solomons have been preparing for these elections for a long time. A lot of money, effort and intelligence have gone into ensuring an outcome that won’t compromise Beijing’s plans. Cleo Paskall writes – On April 17th the Solomon Islands, a country of ...
    Point of OrderBy poonzteam5443
    4 days ago
  • Climate Change: Criminal ecocide
    We are in the middle of a climate crisis. Last year was (again) the hottest year on record. NOAA has just announced another global coral bleaching event. Floods are threatening UK food security. So naturally, Shane Jones wants to make it easier to mine coal: Resources Minister Shane Jones ...
    No Right TurnBy Idiot/Savant
    4 days ago
  • Is saving one minute of a politician's time worth nearly $1 billion?
    Is speeding up the trip to and from Wellington airport by 12 minutes worth spending up more than $10 billion? Photo: Lynn Grieveson / The KākāTL;DR: The six news items that stood out to me in the last day to 8:26 am today are:The Lead: Transport Minister Simeon Brown announced ...
    The KakaBy Bernard Hickey
    4 days ago
  • Long Tunnel or Long Con?
    Yesterday it was revealed that Transport Minister had asked Waka Kotahi to look at the options for a long tunnel through Wellington. State Highway 1 (SH1) through Wellington City is heavily congested at peak times and while planning continues on the duplicate Mt Victoria Tunnel and Basin Reserve project, the ...
    4 days ago
  • Smoke And Mirrors.
    You're a fraud, and you know itBut it's too good to throw it all awayAnyone would do the sameYou've got 'em goingAnd you're careful not to show itSometimes you even fool yourself a bitIt's like magicBut it's always been a smoke and mirrors gameAnyone would do the sameForty six billion ...
    Nick’s KōreroBy Nick Rockel
    4 days ago
  • What is Mexico doing about climate change?
    This is a re-post from Yale Climate Connections The June general election in Mexico could mark a turning point in ensuring that the country’s climate policies better reflect the desire of its citizens to address the climate crisis, with both leading presidential candidates expressing support for renewable energy. Mexico is the ...
    4 days ago
  • State of humanity, 2024
    2024, it feels, keeps presenting us with ever more challenges, ever more dismay.Do you give up yet? It seems to ask.No? How about this? Or this?How about this?When I say 2024 I really mean the state of humanity in 2024.Saturday night, we watched Civil War because that is one terrifying cliff we've ...
    More Than A FeildingBy David Slack
    4 days ago
  • Govt’s Wellington tunnel vision aims to ease the way to the airport (but zealous promoters of cycl...
    Buzz from the Beehive A pet project and governmental tunnel vision jump out from the latest batch of ministerial announcements. The government is keen to assure us of its concern for the wellbeing of our pets. It will be introducing pet bonds in a change to the Residential Tenancies Act ...
    Point of OrderBy Bob Edlin
    4 days ago
  • The case for cultural connectedness
    A recent report generated from a Growing Up in New Zealand (GUiNZ) survey of 1,224 rangatahi Māori aged 11-12 found: Cultural connectedness was associated with fewer depression symptoms, anxiety symptoms and better quality of life. That sounds cut and dry. But further into the report the following appears: Cultural connectedness is ...
    Point of OrderBy poonzteam5443
    5 days ago
  • Useful context on public sector job cuts
    David Farrar writes –    The Herald reports: From the gory details of job-cuts news, you’d think the public service was being eviscerated.   While the media’s view of the cuts is incomplete, it’s also true that departments have been leaking the particulars faster than a Wellington ...
    Point of OrderBy poonzteam5443
    5 days ago
  • Gordon Campbell On When Racism Comes Disguised As Anti-racism
    Remember the good old days, back when New Zealand had a PM who could think and speak calmly and intelligently in whole sentences without blustering? Even while Iran’s drones and missiles were still being launched, Helen Clark was live on TVNZ expertly summing up the latest crisis in the Middle ...
    5 days ago
  • Govt ignored economic analysis of smokefree reversal
    Costello did not pass on analysis of the benefits of the smokefree reforms to Cabinet, emphasising instead the extra tax revenues of repealing them. Photo: Hagen Hopkins, Getty Images TL;DR: The six news items that stood out to me at 7:26 am today are:The Lead: Casey Costello never passed on ...
    The KakaBy Bernard Hickey
    5 days ago
  • True Blue.
    True loveYou're the one I'm dreaming ofYour heart fits me like a gloveAnd I'm gonna be true blueBaby, I love youI’ve written about the job cuts in our news media last week. The impact on individuals, and the loss to Aotearoa of voices covering our news from different angles.That by ...
    Nick’s KōreroBy Nick Rockel
    5 days ago
  • Who is running New Zealand’s foreign policy?
    While commentators, including former Prime Minister Helen Clark, are noting a subtle shift in New Zealand’s foreign policy, which now places more emphasis on the United States, many have missed a key element of the shift. What National said before the election is not what the government is doing now. ...
    PolitikBy Richard Harman
    5 days ago

  • $41m to support clean energy in South East Asia
    New Zealand is demonstrating its commitment to reducing global greenhouse emissions, and supporting clean energy transition in South East Asia, through a contribution of NZ$41 million (US$25 million) in climate finance to the Asian Development Bank (ADB)-led Energy Transition Mechanism (ETM). Prime Minister Christopher Luxon and Climate Change Minister Simon Watts announced ...
    BeehiveBy beehive.govt.nz
    11 hours ago
  • Minister releases Fast-track stakeholder list
    The Government is today releasing a list of organisations who received letters about the Fast-track applications process, says RMA Reform Minister Chris Bishop. “Recently Ministers and agencies have received a series of OIA requests for a list of organisations to whom I wrote with information on applying to have a ...
    BeehiveBy beehive.govt.nz
    13 hours ago
  • Judicial appointments announced
    Attorney-General Judith Collins today announced the appointment of Wellington Barrister David Jonathan Boldt as a Judge of the High Court, and the Honourable Justice Matthew Palmer as a Judge of the Court of Appeal. Justice Boldt graduated with an LLB from Victoria University of Wellington in 1990, and also holds ...
    BeehiveBy beehive.govt.nz
    13 hours ago
  • Education Minister heads to major teaching summit in Singapore
    Education Minister Erica Stanford will lead the New Zealand delegation at the 2024 International Summit on the Teaching Profession (ISTP) held in Singapore. The delegation includes representatives from the Post Primary Teachers’ Association (PPTA) Te Wehengarua and the New Zealand Educational Institute (NZEI) Te Riu Roa.  The summit is co-hosted ...
    BeehiveBy beehive.govt.nz
    14 hours ago
  • Value of stopbank project proven during cyclone
    A stopbank upgrade project in Tairawhiti partly funded by the Government has increased flood resilience for around 7000ha of residential and horticultural land so far, Regional Development Minister Shane Jones says. Mr Jones today attended a dawn service in Gisborne to mark the end of the first stage of the ...
    BeehiveBy beehive.govt.nz
    14 hours ago
  • Anzac commemorations, Türkiye relationship focus of visit
    Foreign Affairs Minister Winston Peters will represent the Government at Anzac Day commemorations on the Gallipoli Peninsula next week and engage with senior representatives of the Turkish government in Istanbul.    “The Gallipoli campaign is a defining event in our history. It will be a privilege to share the occasion ...
    BeehiveBy beehive.govt.nz
    15 hours ago
  • Minister to Europe for OECD meeting, Anzac Day
    Science, Innovation and Technology and Defence Minister Judith Collins will next week attend the OECD Science and Technology Ministerial conference in Paris and Anzac Day commemorations in Belgium. “Science, innovation and technology have a major role to play in rebuilding our economy and achieving better health, environmental and social outcomes ...
    BeehiveBy beehive.govt.nz
    17 hours ago
  • Comprehensive Partnership the goal for NZ and the Philippines
    Prime Minister Christopher Luxon held a bilateral meeting today with the President of the Philippines, Ferdinand Marcos Jr.  The Prime Minister was accompanied by MP Paulo Garcia, the first Filipino to be elected to a legislature outside the Philippines. During today’s meeting, Prime Minister Luxon and President Marcos Jr discussed opportunities to ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Government commits $20m to Westport flood protection
    The Government has announced that $20 million in funding will be made available to Westport to fund much needed flood protection around the town. This measure will significantly improve the resilience of the community, says Local Government Minister Simeon Brown. “The Westport community has already been allocated almost $3 million ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Taupō takes pole position
    The Government is proud to support the first ever Repco Supercars Championship event in Taupō as up to 70,000 motorsport fans attend the Taupō International Motorsport Park this weekend, says Economic Development Minister Melissa Lee. “Anticipation for the ITM Taupō Super400 is huge, with tickets and accommodation selling out weeks ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Cost of living support for low-income homeowners
    Local Government Minister Simeon Brown has announced an increase to the Rates Rebate Scheme, putting money back into the pockets of low-income homeowners.  “The coalition Government is committed to bringing down the cost of living for New Zealanders. That includes targeted support for those Kiwis who are doing things tough, such ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Government backing mussel spat project
    The Coalition Government is investing in a project to boost survival rates of New Zealand mussels and grow the industry, Oceans and Fisheries Minister Shane Jones has announced. “This project seeks to increase the resilience of our mussels and significantly boost the sector’s productivity,” Mr Jones says. “The project - ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Government focused on getting people into work
    Benefit figures released today underscore the importance of the Government’s plan to rebuild the economy and have 50,000 fewer people on Jobseeker Support, Social Development and Employment Minister Louise Upston says. “Benefit numbers are still significantly higher than when National was last in government, when there was about 70,000 fewer ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Clean energy key driver to reducing emissions
    The Government’s commitment to doubling New Zealand’s renewable energy capacity is backed by new data showing that clean energy has helped the country reach its lowest annual gross emissions since 1999, Climate Change Minister Simon Watts says. New Zealand’s latest Greenhouse Gas Inventory (1990-2022) published today, shows gross emissions fell ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Earthquake-prone buildings review brought forward
    The Government is bringing the earthquake-prone building review forward, with work to start immediately, and extending the deadline for remediations by four years, Building and Construction Minister Chris Penk says. “Our Government is focused on rebuilding the economy. A key part of our plan is to cut red tape that ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Thailand and NZ to agree to Strategic Partnership
    Prime Minister Christopher Luxon and his Thai counterpart, Prime Minister Srettha Thavisin, have today agreed that New Zealand and the Kingdom of Thailand will upgrade the bilateral relationship to a Strategic Partnership by 2026. “New Zealand and Thailand have a lot to offer each other. We have a strong mutual desire to build ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Government consults on extending coastal permits for ports
    RMA Reform Minister Chris Bishop and Transport Minister Simeon Brown have today announced the Coalition Government’s intention to extend port coastal permits for a further 20 years, providing port operators with certainty to continue their operations. “The introduction of the Resource Management Act in 1991 required ports to obtain coastal ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Inflation coming down, but more work to do
    Today’s announcement that inflation is down to 4 per cent is encouraging news for Kiwis, but there is more work to be done - underlining the importance of the Government’s plan to get the economy back on track, acting Finance Minister Chris Bishop says. “Inflation is now at 4 per ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • School attendance restored as a priority in health advice
    Refreshed health guidance released today will help parents and schools make informed decisions about whether their child needs to be in school, addressing one of the key issues affecting school attendance, says Associate Education Minister David Seymour. In recent years, consistently across all school terms, short-term illness or medical reasons ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Unnecessary bureaucracy cut in oceans sector
    Oceans and Fisheries Minister Shane Jones is streamlining high-level oceans management while maintaining a focus on supporting the sector’s role in the export-led recovery of the economy. “I am working to realise the untapped potential of our fishing and aquaculture sector. To achieve that we need to be smarter with ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Patterson promoting NZ’s wool sector at International Congress
    Associate Agriculture Minister Mark Patterson is speaking at the International Wool Textile Organisation Congress in Adelaide, promoting New Zealand wool, and outlining the coalition Government’s support for the revitalisation the sector.    "New Zealand’s wool exports reached $400 million in the year to 30 June 2023, and the coalition Government ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Removing red tape to help early learners thrive
    The Government is making legislative changes to make it easier for new early learning services to be established, and for existing services to operate, Associate Education Minister David Seymour says. The changes involve repealing the network approval provisions that apply when someone wants to establish a new early learning service, ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • RMA changes to cut coal mining consent red tape
    Changes to the Resource Management Act will align consenting for coal mining to other forms of mining to reduce barriers that are holding back economic development, Resources Minister Shane Jones says. “The inconsistent treatment of coal mining compared with other extractive activities is burdensome red tape that fails to acknowledge ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • McClay reaffirms strong NZ-China trade relationship
    Trade, Agriculture and Forestry Minister Todd McClay has concluded productive discussions with ministerial counterparts in Beijing today, in support of the New Zealand-China trade and economic relationship. “My meeting with Commerce Minister Wang Wentao reaffirmed the complementary nature of the bilateral trade relationship, with our Free Trade Agreement at its ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Prime Minister Luxon acknowledges legacy of Singapore Prime Minister Lee
    Prime Minister Christopher Luxon today paid tribute to Singapore’s outgoing Prime Minister Lee Hsien Loong.   Meeting in Singapore today immediately before Prime Minister Lee announced he was stepping down, Prime Minister Luxon warmly acknowledged his counterpart’s almost twenty years as leader, and the enduring legacy he has left for Singapore and South East ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • PMs Luxon and Lee deepen Singapore-NZ ties
    Prime Minister Christopher Luxon held a bilateral meeting today with Singapore Prime Minister Lee Hsien Loong. While in Singapore as part of his visit to South East Asia this week, Prime Minister Luxon also met with Singapore President Tharman Shanmugaratnam and will meet with Deputy Prime Minister Lawrence Wong.  During today’s meeting, Prime Minister Luxon ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Antarctica New Zealand Board appointments
    Foreign Minister Winston Peters has made further appointments to the Board of Antarctica New Zealand as part of a continued effort to ensure the Scott Base Redevelopment project is delivered in a cost-effective and efficient manner.  The Minister has appointed Neville Harris as a new member of the Board. Mr ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Finance Minister travels to Washington DC
    Finance Minister Nicola Willis will travel to the United States on Tuesday to attend a meeting of the Five Finance Ministers group, with counterparts from Australia, the United States, Canada, and the United Kingdom.  “I am looking forward to meeting with our Five Finance partners on how we can work ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Pet bonds a win/win for renters and landlords
    The coalition Government has today announced purrfect and pawsitive changes to the Residential Tenancies Act to give tenants with pets greater choice when looking for a rental property, says Housing Minister Chris Bishop. “Pets are important members of many Kiwi families. It’s estimated that around 64 per cent of New ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Long Tunnel for SH1 Wellington being considered
    State Highway 1 (SH1) through Wellington City is heavily congested at peak times and while planning continues on the duplicate Mt Victoria Tunnel and Basin Reserve project, the Government has also asked NZ Transport Agency (NZTA) to consider and provide advice on a Long Tunnel option, Transport Minister Simeon Brown ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • New Zealand condemns Iranian strikes
    Prime Minister Christopher Luxon and Foreign Minister Winston Peters have condemned Iran’s shocking and illegal strikes against Israel.    “These attacks are a major challenge to peace and stability in a region already under enormous pressure," Mr Luxon says.    "We are deeply concerned that miscalculation on any side could ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Huge interest in Government’s infrastructure plans
    Hundreds of people in little over a week have turned out in Northland to hear Regional Development Minister Shane Jones speak about plans for boosting the regional economy through infrastructure. About 200 people from the infrastructure and associated sectors attended an event headlined by Mr Jones in Whangarei today. Last ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Health Minister thanks outgoing Health New Zealand Chair
    Health Minister Dr Shane Reti has today thanked outgoing Health New Zealand – Te Whatu Ora Chair Dame Karen Poutasi for her service on the Board.   “Dame Karen tendered her resignation as Chair and as a member of the Board today,” says Dr Reti.  “I have asked her to ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Roads of National Significance planning underway
    The NZ Transport Agency (NZTA) has signalled their proposed delivery approach for the Government’s 15 Roads of National Significance (RoNS), with the release of the State Highway Investment Proposal (SHIP) today, Transport Minister Simeon Brown says.  “Boosting economic growth and productivity is a key part of the Government’s plan to ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Navigating an unstable global environment
    New Zealand is renewing its connections with a world facing urgent challenges by pursuing an active, energetic foreign policy, Foreign Minister Winston Peters says.   “Our country faces the most unstable global environment in decades,” Mr Peters says at the conclusion of two weeks of engagements in Egypt, Europe and the United States.    “We cannot afford to sit back in splendid ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • NZ welcomes Australian Governor-General
    Prime Minister Christopher Luxon has announced the Australian Governor-General, His Excellency General The Honourable David Hurley and his wife Her Excellency Mrs Linda Hurley, will make a State visit to New Zealand from Tuesday 16 April to Thursday 18 April. The visit reciprocates the State visit of former Governor-General Dame Patsy Reddy ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Pseudoephedrine back on shelves for Winter
    Associate Health Minister David Seymour has announced that Medsafe has approved 11 cold and flu medicines containing pseudoephedrine. Pharmaceutical suppliers have indicated they may be able to supply the first products in June. “This is much earlier than the original expectation of medicines being available by 2025. The Government recognised ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • NZ and the US: an ever closer partnership
    New Zealand and the United States have recommitted to their strategic partnership in Washington DC today, pledging to work ever more closely together in support of shared values and interests, Foreign Minister Winston Peters says.    “The strategic environment that New Zealand and the United States face is considerably more ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Joint US and NZ declaration
    April 11, 2024 Joint Declaration by United States Secretary of State the Honorable Antony J. Blinken and New Zealand Minister of Foreign Affairs the Right Honourable Winston Peters We met today in Washington, D.C. to recommit to the historic partnership between our two countries and the principles that underpin it—rule ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • NZ and US to undertake further practical Pacific cooperation
    Foreign Minister Winston Peters has announced further New Zealand cooperation with the United States in the Pacific Islands region through $16.4 million in funding for initiatives in digital connectivity and oceans and fisheries research.   “New Zealand can achieve more in the Pacific if we work together more urgently and ...
    BeehiveBy beehive.govt.nz
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