The Insider
Treat with caution
Recent stories of misconduct, unethical and even criminal activities by banks in Australia have only worsened their reputation. In this country, the Government has waved the regulatory stick already, and the Reserve Bank is inching towards requiring banks to hold more capital in reserve. But in the background there is also the fear that tighter regulation could have the perverse effect of drying up lending, if the banks decide they can make more money with less hassle in other countries. Or, as one former Finance Minister liked to observe, “the only thing worse than a profitable bank is a non-profitable bank”.
Buying by the rules
Officials are consulting on new rules for government procurement. The plan is to align departmental spending with wider political priorities. Among those are lifting the size and skills of the domestic construction workforce and supporting the transition to a net zero emissions economy. Not surprisingly, there is some cynicism in the private sector and in departments. One senior executive of a “preferred” supplier of electric cars says they have had hardly a sniff of business from departments since ministers told agencies that electric vehicle purchases were a priority. Neither are his competitors being rushed off their feet. Departmental bosses will be fearful of breaching budgets and thus incurring ministerial wrath as they seek to comply with the new priorities.
Big energy fights back
The oil and gas industry has continued its pushback against the ban on new exploration permits outside onshore Taranaki, and has begun airing TV adverts pointing out some of the negative effects. This seems unlikely to change many minds — Labour and the Greens see the ban as an essential part of the long-term transition to a lowemissions economy. National has said it would repeal the ban, but even some in the party have their doubts, as polling shows it is popular among the “housewives of Remuera”, even if no one knows how to replace the gas. A senior Greenpeace campaigner complained that “running prime time TV ads is eye-wateringly expensive” and the oil sector should use its “wealth and influence” to do something practical. But as one energy analyst responded, Greenpeace uses a lot more “wealth and influence” on its campaigns.
Silent revolution
More than a few political strategists were watching to see how the “Defend New Zealand Sovereignty” rallies panned out last Saturday. The protests were centred on anger about NZ joining up to the United Nations Global Compact for Safe, Orderly and Regular Migration, which some fear will open the borders to “undesirable” people and also ban any criticism of pro-migration policy. Some of the people attracted to the protest also warned that the Government was pushing for a UN takeover of the world, and the compulsory implementation of Sharia Law. Added to this were anti-1080, anti-vax and anti-other-things groups. Various right-wing blogs and twitter accounts went into overdrive predicting a turnout to rival the recent protests in France and the beginning of a revolutionary wave in this country. But as a result, it seemed that more people turned up to observe this new mass political movement than to participate in it.
Summer’s end
After a long summer break, MPs return to Parliament next Tuesday. Some have been away so long, they may have forgotten where their offices are. The start is later than usual, but within the rule that the first day must be no later than the last Tuesday in February. There are only 90 scheduled sitting days this year, which doesn’t leave a lot of time for the Government to pass legislation.
Frozen out
One MP who will find it difficult to find his way around is former National MP, and now independent, Jami-Lee Ross (left). His new office is over in Bowen House, about as far as possible from his former colleagues’ offices. Ross has also been told he will not have access to the area around National MPs’ offices. He has said they are still welcome to come to “Siberia” for a cup of tea, but the biscuits are likely to be very stale before any take up his offer.
The sound of anger
Wellington’s normally polite citizens are again being driven close to revolution. First, it was changes to the bus system, which had some Wellingtonians making the ultimate protest: no longer thanking the driver. Now, a councillor has suggested it’s time to end the practice of tooting car horns in the Mt Victoria tunnel. The result has been a cacophony of honking. Even non-tooters have been sounding their horns in protest at the threat to tradition, but also to show the council that it really has bigger transport issues to worry about.