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 ”

  • Comments are now closed

  1. Marty G 1
    23 August 2010 at 9:22 am

    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
    23 August 2010 at 9:34 am

    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
      23 August 2010 at 9:59 am

      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
    23 August 2010 at 9:52 am

    Shouldn’t this cash be going into exportproducing enterprises.

    • ZB 3.1
      23 August 2010 at 10:58 am

      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
        23 August 2010 at 1:31 pm

        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
    23 August 2010 at 9:53 am

    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
    23 August 2010 at 10:07 am

    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
    23 August 2010 at 10:26 am

    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
    23 August 2010 at 10:38 am

    “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
      24 August 2010 at 12:05 am

      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
    23 August 2010 at 11:25 am

    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
      23 August 2010 at 11:43 am

      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
    23 August 2010 at 11:27 am

    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
      23 August 2010 at 11:38 am

      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
        23 August 2010 at 11:58 am

        Right, that’s what I thought.

      • MrSmith 9.1.2
        23 August 2010 at 8:24 pm

        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
      23 August 2010 at 11:57 am

      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
        23 August 2010 at 12:01 pm

        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
    23 August 2010 at 11:33 am

    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
      23 August 2010 at 1:22 pm

      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
      23 August 2010 at 1:39 pm

      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
      23 August 2010 at 1:48 pm

      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
    23 August 2010 at 12:43 pm

    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
    23 August 2010 at 2:59 pm

    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
      23 August 2010 at 4:33 pm

      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
    23 August 2010 at 5:52 pm

    Sneaky Nasty NACT.

  14. G Duff 14
    23 August 2010 at 6:10 pm

    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
      24 August 2010 at 1:06 am

      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
    23 August 2010 at 8:41 pm

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

    • Draco T Bastard 15.1
      24 August 2010 at 12:58 am

      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
    24 August 2010 at 7:20 am

    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
    26 August 2010 at 11:49 am

    Why don’t they privatise Treasury?

Links to post

Recent Comments

Recent Posts

  • 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
    5 hours 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
    10 hours 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
    12 hours 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
    13 hours 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
    14 hours 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
    17 hours 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
    18 hours 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
    22 hours 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
    1 day 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
    2 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
    2 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
    2 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
    2 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
    3 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
    3 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
    3 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
    3 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
    3 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
    3 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
    3 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
    3 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
    4 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
    4 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
    4 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
    6 days 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
    6 days 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
    7 days 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
    7 days 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
    7 days 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
    7 days 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
    7 days 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
    7 days 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
    7 days ago

  • Government redress for Te Korowai o Wainuiārua
    The Government is continuing the bipartisan effort to restore its relationship with iwi as the Te Korowai o Wainuiārua Claims Settlement Bill passed its first reading in Parliament today, says Treaty Negotiations Minister Paul Goldsmith. “Historical grievances of Te Korowai o Wainuiārua relate to 19th century warfare, land purchased or taken ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Focus on outstanding minerals permit applications
    New Zealand Petroleum and Minerals is working to resolve almost 150 outstanding minerals permit applications by the end of the financial year, enabling valuable mining activity and signalling to the sector that New Zealand is open for business, Resources Minister Shane Jones says.  “While there are no set timeframes for ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Applications open for NZ-Ireland Research Call
    The New Zealand and Irish governments have today announced that applications for the 2024 New Zealand-Ireland Joint Research Call on Agriculture and Climate Change are now open. This is the third research call in the three-year Joint Research Initiative pilot launched in 2022 by the Ministry for Primary Industries and Ireland’s ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Tenancy rules changes to improve rental market
    The coalition Government has today announced changes to the Residential Tenancies Act to encourage landlords back to the rental property market, says Housing Minister Chris Bishop. “The previous Government waged a war on landlords. Many landlords told us this caused them to exit the rental market altogether. It caused worse ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Boosting NZ’s trade and agricultural relationship with China
    Trade and Agriculture Minister Todd McClay will visit China next week, to strengthen relationships, support Kiwi exporters and promote New Zealand businesses on the world stage. “China is one of New Zealand’s most significant trade and economic relationships and remains an important destination for New Zealand’s products, accounting for nearly 22 per cent of our good and ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Freshwater farm plan systems to be improved
    The coalition Government intends to improve freshwater farm plans so that they are more cost-effective and practical for farmers, Associate Environment Minister Andrew Hoggard and Agriculture Minister Todd McClay have announced. “A fit-for-purpose freshwater farm plan system will enable farmers and growers to find the right solutions for their farm ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • New Fast Track Projects advisory group named
    The coalition Government has today announced the expert advisory group who will provide independent recommendations to Ministers on projects to be included in the Fast Track Approvals Bill, say RMA Reform Minister Chris Bishop and Regional Development Minister Shane Jones. “Our Fast Track Approval process will make it easier and ...
    BeehiveBy beehive.govt.nz
    1 week ago

Page generated in The Standard by Wordpress at 2024-04-18T15:11:02+00:00