Posts by Russel Norman

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  Power Struggles – by John Small - by Russel Norman

  
  
  
  Pasted below is an article by John Small from Covec that was published in the Dom Post a couple of days ago. In it he argues that NZ Power should reduce prices and significantly improve retail competition, and new generation will still be fundable. He further states that there are some important details that need [...] read more
  May 15, 2013 10:52 am - 38 Comments
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  Will Auckland’s housing price bubble be different this time round? - by Russel Norman

  
  
  
  Maybe. Yesterday, the Reserve Bank signalled enough concern about rising house prices in Auckland that they spooked commentators with the possibility of early rises in the Official Cash Rate (OCR) and a more certain resolve to use complementary tools, like loan-to-value ratios. I have more hope following this statement that the Reserve Bank has learned [...] read more
  April 10, 2013 10:25 am - 12 Comments
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  Open letter to the Speaker re: Question Time - by Russel Norman

  
  
  
  Rt Hon David Carter Speaker of the House of Representatives Parliament Buildings Wellington 20 March 2013 Dear David After sitting through another chaotic question time I feel compelled to write this open letter to you as Speaker. I strongly urge you to revert to the set of rules that Lockwood Smith had developed over the [...] read more
  March 21, 2013 9:24 am - 12 Comments
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  Is Deputy Prime Minister and Finance Minister Bill English a climate change denier? - by Russel Norman

  
  
  
  Is the Deputy Prime Minister of our country a climate change denier? It may well be the case. During question time in Parliament yesterday I wanted to get into the lack of focus and inaction from this Government on climate change which is starkly highlighted by the suffering our drought-stricken farmers are going through. I [...] read more
  March 14, 2013 12:30 pm - 142 Comments
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  From 100% to 5% - by Russel Norman

  
  
  
  The Government has suggested that up to 90% of shares will be owned by New Zealanders, and Treasury’s figures show that around 5% of all New Zealanders will be able to afford to buy shares. Without even thinking of the Australian share float, which will dilute Kiwi ownership, the asset sales program is about a [...] read more
  March 5, 2013 11:13 am - 385 Comments
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  Wheeler on the death of manufacturing etc. etc. - by Russel Norman

  
  
  
  It’s interesting to compare yesterday’s speech by Reserve Bank Governor Graeme Wheeler with Sir Paul Callaghan’s vision for a prosperous New Zealand. Wheeler describes New Zealand’s manufacturing sector as a sunset industry, in terminal decline due to globalisation, competition from low wage countries, and a shift to a service intensive economy. It’s the kind of [...] read more
  February 21, 2013 5:27 pm - 26 Comments
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  Liam Dann on defending the status quo - by Russel Norman

  
  
  
  Liam Dann continued his series of defending the status quo on banking and monetary policy (here and here) this week with his column on Reserve Bank policy. While I appreciate Dann’s contribution to the discussion, his failure to offer a single positive solution effectively denies the huge difficulties our productive sector is facing or the [...] read more
  February 7, 2013 10:18 am - 18 Comments
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  Latest overseas investment decision ABBAsolutely stink - by Russel Norman

  
  
  
  The Overseas Investment Office has just approved the sale of eight Waikato dairy farms comprising 3,205 hectares of land to a Swedish consortium. This decision follows last year’s contentious decision to allow Chinese Company Shanghai Pengxin to purchase the Crafar farms.  The 16 Crafar farms comprised nearly 8000 hectares of farmland. An overseas purchaser must [...] read more
  February 1, 2013 1:21 pm - 3 Comments
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  The green economy: It’s the Green Party versus National, but where is Labour? - by Russel Norman

  
  
  
  (Op-ed published in the Herald on 3 December 2012) Green development and green jobs provide a clear vision and economic direction for our nation. We can have good jobs without destroying the environment, and we can take advantage of the huge green economic opportunities overseas to supply exports with a premium. That’s what smart green [...] read more
  December 5, 2012 1:04 pm - 52 Comments
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  The US experience of QE - by Russel Norman

  
  
  
  The United States began their programme of quantitative easing (QE) late in 2008 as a response to the Global Financial Crisis (GFC). Since that time, the US Federal Reserve has purchased $1.9 trillion of assets, keeping their financial markets afloat and lowering the US exchange rate. A lower exchange rate helps exporters. I asked the [...] read more
  October 11, 2012 12:42 pm - 34 Comments
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  Minister for Billionaires - by Russel Norman

  
  
  
  Revenue Minister Peter Dunne on 60 Minutes on Sunday night endorsed “legitimate tax avoidance”. That’s an unusual position for the minister responsible for tax collection to take, and quite different from his views of the past: Tax tightening covers asset sales shortfall: Dunne NZ Herald Wednesday June 20, 2012 The Inland Revenue Department’s clampdown on [...] read more
  October 9, 2012 3:36 pm - 20 Comments
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  Inspector-General of Intelligence and Security Annual Reports - by Russel Norman

  
  
  
  The Inspector-General of Intelligence and Security Annual Reports are hard to find and don’t seem to be available online, so we’ve uploaded them. Here they are: 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011  Will post 2012 once available. Russel read more
  September 28, 2012 5:00 pm - 28 Comments
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  A fairer society is a richer society - by Russel Norman

  
  
  
  A new United Nations Trade and Development Report has found that reducing taxes for those who earn the most has not delivered widespread economic prosperity, as promised. In fact, the UN has found that such policies have caused developed economies to stagnate and grow increasingly unequal. The UN report found that better income distribution within [...] read more
  September 14, 2012 12:56 pm - 14 Comments
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  Australian Budget introduces new eco-taxes - by Russel Norman

  
  
  
  The Australian Budget yesterday was remarkable for a number of reasons, not only for the fact that they’re one of the first Western countries to return their Government’s books to surplus. The 2012 Australian Budget institutes a raft of new measures to raise revenues, especially revenues from activities that damage the environment. These new eco-taxes [...] read more
  May 10, 2012 1:16 pm - 5 Comments
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  Our high exchange rate is killing exporters - by Russel Norman

  
  
  
  The high kiwi dollar is preventing the long overdue rebalancing of our economy according to Reserve Bank Governor, Dr Alan Bollard. Dr Bollard made those comments in June 2009 to his Board when the kiwi dollar was worth US$0.63 and the Trade Weighted Index (TWI) was at 60. Since this time, the kiwi dollar has [...] read more
  April 24, 2012 10:27 am - 58 Comments
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  How to crash the budget - by Russel Norman

  
  
  
  The fiscal neutrality or otherwise of the 2010 tax changes is important because it goes to the heart of the economic competence of National.  They claimed the cut to income tax for upper income earners plus the cut to the company tax rate was balanced by the increase in GST and other tax changes. That [...] read more
  April 5, 2012 12:07 pm - 6 Comments
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  Will privatising energy companies improve the Govt’s debt and deficit position? No. - by Russel Norman

  
  
  
  The National Government has used the government deficit and debt to justify the privatisation of assets. As I pointed out in an earlier blog, the deficit and debt problem has been made much worse as a result of this Government’s very poor revenue and spending decisions. But does privatising the assets really help the deficit [...] read more
  March 29, 2012 1:39 pm - 80 Comments
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  Creating debt to justify privatisation - by Russel Norman

  
  
  
  The National Government has consistently used the argument of government debt and the budget deficit as the primary reason for partially privatising our state-owned energy companies: Genesis, Mighty River Power, Meridian, and Solid Energy. Yet the debt and deficit have been made much worse as a result of the decisions of this Government. Our debt [...] read more
  March 22, 2012 7:23 pm - 49 Comments
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  Fukushima II - by Russel Norman

  
  
  
  As I posted earlier, I was able to spend a day in Fukushima on Wednesday. I was able to talk with a couple of the local Mayors as well as a number of locals known to the MP I was travelling with. It was illuminating and I’d like to record a few observations. The first is at [...] read more
  March 16, 2012 9:31 pm - 11 Comments
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  Fukushima Diary - by Russel Norman

  
  
  
  Photos and tweets from my March 14th trip to the Fukushima Prefecture in Japan, where they are still feeling the devastating effects of the 2011 tsunami and nuclear accident one year on. read more
  March 15, 2012 4:17 pm - 7 Comments
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  The Green Growth Advisory Group report - by Russel Norman

  
  
  
  Over the weekend, the Government released the report of the Green Growth Advisory Group (GGAG). The GGAG is appointed by the Government and headed by Phil O’Reilly from Business NZ. The report is a timid acknowledgement of the growing global and domestic green economy and the opportunities and risks that creates for New Zealand. As [...] read more
  March 5, 2012 1:26 pm - 22 Comments
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  Crafar saga will keep Govt busy for 2012 - by Russel Norman

  
  
  
  The Overseas Investment Office’s habit of rubber stamping applications to buy New Zealand land finally met a brick wall with the recent High Court decision regarding the Crafar farms. The Crafar Farms went bust a few years ago and are now being sold by receivers Korda Mentha on behalf of Australian banks and finance companies [...] read more
  February 24, 2012 5:51 pm - 12 Comments
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  Super Fund invests in Chinese property bubble? - by Russel Norman

  
  
  
  The New Zealand Superannuation Fund has, on our behalf, decided to take a $23 million bet on a property development company with significant exposure to China — a country where some reports say that there are 64 million vacant apartments. The Fund’s stake in Hong Kong-based property development company Sun Hung Kai is the tenth [...] read more
  February 9, 2012 8:05 am - 4 Comments
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  Horizons chairman hot under the collar on World Cup Tickets - by Russel Norman

  
  
  
  On Sunday we released information gained under the Local Government Official Information and Meetings Act that several regional councillors had received gifts and hospitality from Fonterra in the form of Rugby World Cup tickets for quarterfinal and bronze medal matches. There is a clear conflict of interest when the regulator is accepting gifts from the [...] read more
  December 14, 2011 12:28 pm - 2 Comments
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  Fonterra’s fencing rule a step in the right direction - by Russel Norman

  
  
  
  I want to congratulate Fonterra for announcing that all waterways on Fonterra farms must be fenced within 18 months as condition of supply. This is a positive step in addressing our declining water quality. Previously Fonterra farmers were encouraged to fence off their waterways as part of the voluntary Clean Streams Accord. But it’s great [...] read more
  December 5, 2011 11:23 am - 18 Comments
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  Greens answer the hard questions on freshwater management - by Russel Norman

  
  
  
  The Green Party recently received an open letter to politicians and the New Zealand public regarding freshwater management in New Zealand. The letter addressed some of the more difficult questions surrounding freshwater management, which came out of the “Reimagining Freshwater Geographies” workshop recently held at the University of Auckland and attended by 34 environmental and [...] read more
  November 22, 2011 2:52 pm - 4 Comments
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  Dairy compliance message is failing - by Russel Norman

  
  
  
  Bay of Plenty Regional Council recently expressed their concern that some dairy operators are still not getting the message that it’s not okay to pollute NZ’s waterways with effluent. There have been eight prosecutions in the past year in the Bay of Plenty regarding breaches of dairy effluent disposal rules and conditions. This is eight [...] read more
  November 14, 2011 1:10 pm - 40 Comments
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  Dams will damn our rivers - by Russel Norman

  
  
  
  Fed Farmers have welcomed National’s $400 million water storage and irrigation investment announced yesterday. Of course Fed Farmers would. Damming rivers to store water for irrigation means farmers can convert more land to dairying, which is highly profitable at the moment. But Fed Farmers pretend that damming rivers to store water for irrigation won’t hurt [...] read more
  November 10, 2011 2:10 pm - 45 Comments
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  The truth about the RMA - by Russel Norman

  
  
  
  Nick Smith has made various claims about RMA delays. This letter has some inconvenient truths for the Minister.   read more
  November 3, 2011 9:15 am - 6 Comments
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  World Economic Forum calls for government leadership on green job creation - by Russel Norman

  
  
  
  The World Economic Forum, a group consisting of the world’s leading corporate citizens, is calling on governments to take the lead in green job creation through the retrofitting of commercial buildings to make them more energy efficient. The report, entitled A Profitable & Resource Efficient Future: Catalysing Retrofit Finance & Investing in Commercial Real Estate, [...] read more
  November 1, 2011 3:00 pm - 7 Comments
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  Open letter to Auckland councillors over the development of Te Arai beach - by Russel Norman

  
  
  
  Posted below is an letter to the mayor and councillors of Auckland from concerned Aucklander John Shaw. John is a surfer who’s passionate about the stunning beauty of Te Arai beach north of Auckland and doesn’t want to see its natural character destroyed by development  like so many of our other pristine beaches.   Dear [...] read more
  October 21, 2011 5:01 pm - 2 Comments
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  Bay of Plenty Regional Council ready to ask the hard questions - by Russel Norman

  
  
  
  I am encouraged to read today the Bay of Plenty regional council’s policy position on management and land use change in the Lake Rotorua catchment, which includes the recognition that land management changes alone will not be enough to achieve water quality targets. Lake Rotorua is seriously degraded and a huge reduction in the amount [...] read more
  October 21, 2011 4:14 pm - No Comments
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  Pictures from Tauranga - by Russel Norman

  
  
  
  Over the past week Metiria and I have been up in Tauranga. Here are some of the pictures we’ve taken. I was lucky enough to go on a helicopter flight this morning and see the Rena up close. Earlier in the week Metiria was on Motiti Island and got these pictures. read more
  October 21, 2011 11:19 am - 16 Comments
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  Building industry sees eye-to-eye with Green economic policies - by Russel Norman

  
  
  
  The Construction Strategy Group has recently published their report on the state of the building industry entitled Valuing the Role of Construction in the NZ Economy. The Construction Strategy Group is a lobby group and is made up of a who’s who in the industry. Their report outlines a number of key initiatives they’d like [...] read more
  October 19, 2011 9:19 am - 3 Comments
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  Why Sir Paul Callaghan needs to reconsider clean technology - by Russel Norman

  
  
  
  Sir Paul Callaghan’s opinion piece in the Herald critiques our economic plan to create 100,000 new green jobs. His paper raises some important points about the record of previous governments and their attempts to pick winners in the research and development (R&D) field. A key element of our Green Jobs initiative launched on September 21 [...] read more
  October 11, 2011 1:00 pm - 16 Comments
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  Kiwis consider water pollution our biggest environmental issue - by Russel Norman

  
  
  
  A new study recently released by Lincoln University has found that water pollution is rated by New Zealanders as the most important environmental issue facing our country. The Public Perceptions of New Zealand’s Environment 2010 study, which surveyed over 2000 people, states: “It is clear that New Zealanders have a very high desire for a [...] read more
  September 29, 2011 4:17 pm - 8 Comments
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  A warning from the OECD on NZ’s deteriorating water quality - by Russel Norman

  
  
  
  I was a key note speaker on Tuesday at the DIPCON conference in on Diffuse Pollution and Eutrophication in Rotorua. Tomorrow Dr Kevin Parris of the Trade and Agriculture Directorate of the OECD in Paris will be presenting the findings of a recent OECD report highlighting New Zealand’s deteriorating water quality. His findings across OECD [...] read more
  September 22, 2011 4:39 pm - 2 Comments
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  Govt subsidising pollution and clean-up - by Russel Norman

  
  
  
   The Government is simultaneously subsidising pollution and pollution clean-up. Our lowland rivers and lakes are in poor shape, and the Government knows it must do something to clean them up. That is why Environment Minister Nick Smith today announced  the criteria and assessment panel for a new $9 million water clean-up fund. Unfortunately, at [...] read more
  September 14, 2011 4:21 pm - 29 Comments
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  Canterbury water management in no-mans-land - by Russel Norman

  
  
  
  I recently was the guest speaker at the Annual General Meeting of the Water Rights Trust (WRT) in Christchurch, where outgoing Chairman Murray Rodgers gave an impassioned speech about the poor state of water resources and water governance in Canterbury. Murray remains as a trustee of the WRT and is also a member of the [...] read more
  August 29, 2011 3:55 pm - 18 Comments
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  Greens’ clean water initiative - by Russel Norman

  
  
  
  Yesterday we launched the Greens’ clean water initiative. You can read all about it here. It involves setting minimum standards, for water quality and for agricultural practice; putting a price on irrigation water; and using the funds raised to provide support for the cleaning up of rivers and lakes. It has received a predictable response from the polluting [...] read more
  August 22, 2011 9:40 am - 32 Comments