Latest Releases

Deposit guarantee scheme introduced

beehive.govt.nz — Sun, 12 Oct 2008 17:26:03 +1300

Finance Minister Michael Cullen has announced that, using his powers under the Public Finance Act, the government is to introduce an opt-in retail deposit guarantee scheme.

"The scheme will cover all retail deposits of participating New Zealand-registered banks and retail deposits by locals in non-bank deposit-taking entities. This would include building societies, credit unions and deposit-taking finance companies," he said.

The deposit guarantee scheme does not include related party liabilities.

The new scheme is an opt-in scheme and would take the form of a bilateral contractual agreement between the Crown and the individual institutions which take up the guarantee.

The scheme will be free for institutions with total retail deposits under $5 billion. A fee of ten basis points per annum will be charged on total deposits above $5 billion. This means that a bank with $20 billion in retail deposits would pay $15 million in fees per annum.

The government is offering this deposit guarantee to address the current situation of international financial market turbulence and it will be for a two- year term in the first instance. This will give time to see how well international financial markets stabilise in the months ahead.

"The deposit guarantee is designed to give assurance to New Zealand depositors. The New Zealand banking system remains sound. We want to ensure that ordinary New Zealanders feel that their deposits are safe in the current uncertain international financial market conditions," Dr Cullen said.

The Reserve Bank will be releasing further details later today.

Sports Minister pays tribute to Rowing's golden duo

beehive.govt.nz — Thu, 09 Oct 2008 14:43:35 +1300

Sport and Recreation Minister Clayton Cosgrove has paid tribute to Caroline and Georgina Evers-Swindell who announced their retirement from competitive rowing today.

"Caroline and Georgina Evers-Swindell are undoubtedly New Zealand's finest female rowers and leave an extraordinary legacy of success.

"The word "great" is often over-used in sport, but it is a description which is truly fitting for two athletes who have achieved repeatedly at the Olympics and at world championships," Mr Cosgrove said.

"Caroline and Georgina have also conducted themselves with dignity and exhibited true sportsmanship.

"They have provided inspiration and joy for all New Zealanders who see them affectionately simply as "the twins".

"On a personal level, I feel honoured and privileged to have been part of the crowd cheering them on for their nail-biting, thrilling victory at the Beijing Olympics. It was a great day for New Zealand and a fitting triumph for their fantastic rowing careers.

"I wish them well in their future endeavours," Mr Cosgrove said.

Mr Cosgrove said the government has been proud to support Georgina and Caroline Evers-Swindell throughout their careers.

Govt invests in strategic vision for maternity services

beehive.govt.nz — Thu, 09 Oct 2008 14:22:37 +1300

Health Minister David Cunliffe and Associate Health Minister Steve Chadwick today welcomed the findings of the review into maternity services in Wellington.

"I'm pleased that we're able to reassure Wellington women and their families about the quality and safety of maternity services," David Cunliffe said.

"We would like to acknowledge the case that led to this Wellington review, and extend our sincere condolences to the family for their loss."

In July the Ministers asked the Director-General of Health to commission a clinician-led review following the death of a baby during a delivery at Kenepuru Maternity Facility.

"The review is a useful and important tool, and has shown us where there is still more work to do. This includes workforce development, improved relationships and greater national leadership. The recommendations have fed into the strategic vision for maternity services, which we are releasing today for consultation."

"While the review team praised the DHBs and the community LMCs for their efforts in developing effective working relationships, it also recommended that formal steps be taken to further strengthen these, including the possibility of establishing a midwifery liaison position," Steve Chadwick said.

"We will be closely watching the DHB's progress in implementing the local recommendations.

"David Cunliffe and I have prioritised solutions for the midwifery shortage. I am very pleased to announce today that the Labour-led government is investing an additional $1.75 million annually to support the midwifery workforce."

These initiatives include:

$1.5 million for ongoing post-graduate training to support retention of midwives
financial support for overseas trained midwives to meet their registration requirements
resources to promote midwifery as a career choice.

The government also expects there will be up to 80 new places for first year midwifery students from 2009.

This builds on previous initiatives including additional funding of $11.4 million annually for midwives from July 2007, and $4.7 million over two years for a one-year mentoring programme for new graduate midwives.

"Training more midwives in New Zealand and supporting our existing midwives with post-graduate training will make a real difference to strengthening the workforce, and building it for the future.

"Today we are also releasing the draft Maternity Action Plan for consultation. This has been developed with an expert sector group over the last year, and is a significant step forward for maternity.

"The Plan identifies what more can be done to further improve maternity services. It identifies action in the short, medium and long term in seven priority areas, and picks up on the national recommendations from the Wellington review, including workforce development, improving relationships and collaboration between professional groups, and developing joint standards across all maternity service providers."

Background information

Why were maternity services in Wellington reviewed?

In July 2008, the Minister of Health, David Cunliffe and the Associate Minister of Health, Steve Chadwick, asked the Director-General of Health to commission a clinician-led review following the death of a baby during a delivery at Kenepuru Maternity Facility in June 2008. The review was to look at the quality, safety and management of maternity services in Wellington, and identify opportunities for improvement.

For more information visit http://www.moh.govt.nz/maternity

What is the Maternity Action Plan?

The Maternity Action Plan is a five year strategic vision for the development of maternity services.

Why develop a Maternity Action Plan?

It is timely to consider past achievements, current strategies and issues, and develop a plan for the future of maternity services. The sector is calling for national leadership and a strategic approach to maternity services, and a response to the significant increase in births as well as workforce pressures.

Significant steps have already been taken in recent years to improve data collection, survey consumer opinion, consider rural issues and better understand workforce shortages, however this work can be better planned and co-ordinated.

Who developed the Maternity Action Plan?

In October 2007 the Ministry of Health established a Maternity Services Strategic Advisory Group which included experts from a wide range of professionals and consumer organisations involved in the maternity sector. The Group was tasked with developing a vision for maternity services and preparing a draft action plan. The overall aim is to contribute to improved outcomes for mothers, babies and their families, reduce inequalities and increase public confidence in the safety and quality of maternity services.

What are the priority areas in the Plan?

The seven priority areas are: national co-ordination and integration of maternity services, a maternity-specific quality improvement framework, maternity information systems and data collection, reducing inequalities in access to services and outcomes, workforce development, and multidisciplinary co-operation.

When will the Plan be implemented?

The Plan outlines a range of proposed short, medium and longer term actions which will be implemented over the next five years.

How do I make a submission on the Plan?

For information on how to make a submission and a copy of the Plan visit the Ministry of Health's website at www.moh.govt.nz/publications. Submissions close 31 December 2008. The Ministry will also run regional forums, hui and fono over November and December to discuss the draft Plan. The Ministry of Health expects a final Plan to be considered by the Government at the end of March 2009.

What are the new workforce initiatives?

assisting overseas-trained midwives to come to New Zealand to work. A financial support package will assist them to meet the Midwifery Council requirements, by refunding the cost of their registration application, their first Annual Practicing Certificate (APC) and contributing to the cost of the education modules they need to complete to achieve a full APC
funding for postgraduate education for midwives, as evidence shows that investing in ongoing education helps support and retain health professionals. The Clinical Training Agency (CTA) currently funds postgraduate education for medical practitioners and registered nurses, and it is timely to extend it to midwives. The funding will be available to midwives employed to work in secondary/tertiary care settings and self-employed midwives working as LMCs in community settings
the government expects there will be up to 80 new places for first year midwifery students from 2009. Some of these places are dependent upon relevant qualification approval processes. A DVD will also be developed to promote midwifery as a career.

What other midwifery workforce initiatives are already in place?

Funding for midwives increased by around $11.4 million annually from July 2007
$2 million fund for rural midwifery
A one-year mentoring pilot support programme for new graduate midwives (worth $4.7 million over two years)
The Ministry funds the New Zealand College of Midwives to run a rural locum register - putting available midwives in touch with regions that need them.

All national parks now protected from mining

beehive.govt.nz — Thu, 09 Oct 2008 13:58:32 +1300

All national parks will now be protected from mining, Conservation Minister Steve Chadwick announced today.

"The Labour-led government is updating the law to extend protection to Kahurangi and Rakiura national parks, as well as several additions to other national parks, 24 marine reserves, two wilderness areas and three reserves," Steve Chadwick said.

"While the primary reason for these changes is to protect our unique natural heritage, this update will also provide local communities and the minerals industry with certainty that mining activities cannot take place in these areas."

The list of public conservation areas for which mining access is restricted is contained in Schedule 4 of the Crown Minerals Act 1991, which was added to the Act in 1997.

Schedule 4 currently only applies to public conservation areas that existed in 1991, but can be added to by the joint recommendation of the Ministers of Energy and Conservation.

"The schedule will now be consistent with the primary purpose of the additional areas and their management plans.

"Since consultation began on these additions, the government has created six further marine reserves and a number of other protected areas. We will soon begin consultation on whether these new areas should also be added to Schedule 4.

"At the same time, we intend to consult on a proposal to simplify the application of Schedule 4 by making it ‘opt out' rather than ‘opt in'. This would mean that the schedule would automatically apply to generic protected categories, such as national parks and marine reserves, unless a particular area is specifically excluded," Steve Chadwick said.

The changes are gazetted today and come into effect in 28 days time.

New rules simplify company directors disclosure

beehive.govt.nz — Thu, 09 Oct 2008 13:18:03 +1300

Directors and officers of listed companies will have simplified and reduced disclosure requirements under amended Securities Market regulations, Commerce Minister Lianne Dalziel announced today.

The previous regime required all directors and those officers who 'take part' in the management of a listed company's business, generally, had to disclose any securities trading within five trading days of the transaction taking place.

"This went too far and wasn't serving the market in any way. It imposed compliance obligations that were disproportionate to the risk involved," Lianne Dalziel said.

The amendment will reduce the number of officers who fall within the regime because it narrows the definition of 'officers' to persons who report directly to the Board of Directors and their direct reports.

The changes introduce simpler forms, allow one form to be used to record different and multiple types of transactions, and permit a person authorised by the director or officer to sign disclosure forms and lodge them with NZX on the director‘s or officer's behalf.

The Securities Markets (Disclosure of Relevant Interests by Directors and Officers) Amendment Regulations 2008 come into effect on 9 October 2008.

Improvements to redundancy rights planned

beehive.govt.nz — Thu, 09 Oct 2008 12:41:07 +1300

Options for a statutory minimum for redundancy compensation and notice will go out for public consultation next year, Labour Minister Trevor Mallard announced today.

The recommendations to consider a statutory minimum for redundancy are contained in a report by the Public Advisory Group on Restructuring and Redundancy, released by Trevor Mallard today.

"The government's preference is for some sort of statutory minimum, subject to consultation via a discussion document process next year. The current law offers no statutory entitlements to employees for notice or compensation in the event of redundancy, unless these were provided in their employment agreement.

"This means that employees who are made redundant who do not have these protections negotiated into their employment agreements do not have the best protections and support they could have. The Labour-led government has improved workers rights in numerous areas over the last nine years, and this consultation on redundancy is an ongoing part of our plans looking ahead," Trevor Mallard said.

"Introducing a minimum floor for redundancy compensation and notice would bring New Zealand's legal protections in to line with international trends and be consistent with recent developments in the minimum code," Trevor Mallard said.

The advisory group - which included union, business and public sector representatives - recommended the Government consider:

A statutory requirement for redundancy compensation and notice, including options for introducing a statutory formula
Extensions to the Security in Change initiative (aimed at smoothing the transition of people made redundant into alternative jobs) and the need for wider policies to help activate the labour market, and
Encouraging but not requiring notification to government agencies of potential or upcoming redundancy situations.

The Department of Labour will prepare a discussion document, expected to be released for public consultation next April. The discussion document would include options for introducing a statutory minimum for redundancy notice and compensation, extending the Security in Change initiative and possible mandatory notification arrangements.

The Public Advisory Group's report and associated cabinet paper is available at http://www.ers.govt.nz/relationships/r-r-report.html

Joint commitment to improving Pacific peoples health

beehive.govt.nz — Thu, 09 Oct 2008 12:23:36 +1300

During a visit to Langimalie Health Centre today, Health Minister David Cunliffe and Pacific Island Affairs Minister Luamanuvao Winnie Laban highlighted their ministries commitment to working together to reduce health inequalities in the New Zealand health system for Pacific peoples.

"Pacific people have a poorer health status than other non-Māori New Zealanders, such as shorter life expectancy, higher rates of mortality from avoidable and treatable causes. Ensuring that our Pacific people are getting the health services they need is a priority for this government," Mr Cunliffe said.

Using the strengths of both agencies to combat the serious health issues facing Pacific people, the Ministry of Health and the Ministry of Pacific Island Affairs have been working together on the 2008 Joint Pacific Health Action Plan.

"Focus is on the critical areas that will make the greatest difference to the health of Pacific peoples in New Zealand - improving child health outcomes; addressing chronic disease risk factors, such as smoking and obesity; and improving prevention, detection and management of chronic diseases such as diabetes, cardiovascular disease and cancer," Mr Cunliffe said.

"We are working across agencies to address the causes of ill health and improve the way the health system "works" for our Pacific people.

"Organisations like Langimalie, who understand our Pacific communities and their needs, are key players. Langimalie is a Tongan concept for wellbeing and health, which is essential to Pacific peoples being able to reach their potential," said Laban.

A new biennial joint action plan will be developed by the Ministries of Health and Pacific Island Affairs for 2009 and 2010. The Ministry of Health is also developing a Strategic Framework that will bring more focus to activity occurring across the health system and help prioritise Pacific health action.

New GM regulations give greater assurances

beehive.govt.nz — Thu, 09 Oct 2008 12:20:46 +1300

New regulations for the conditional release of genetically-modified organisms (GMOs) will provide greater assurance for industry and the public in regard to traceability and segregation, Environment Minister Trevor Mallard announced today.

"The regulations, gazetted today and effective from 7 November 2008 (28 days after gazettal), tighten up the regime around the ability to segregate and trace conditionally released GMOs," Trevor Mallard said.

"The changes are the result of the cooperation agreement with the Green Party. They mean that when the Environmental Risk Management Authority (ERMA) receives an application to conditionally release a GMO, the applicant will have to show how they plan to keep the GMOs separate from other organisms and how they propose to trace the GMO, if that is appropriate.

"The purpose of the changes is to provide a greater level of transparency, accountability and public openness in the management of GM crops should they be approved for use in New Zealand. The new regulation also provides greater certainty to applicants on the information that they would need to provide to ERMA before a conditional release application would be considered.

"The decision on any conditions that must apply to any approval is still for ERMA to make. But the regulation changes makes it now clear that ERMA will consider segregation and traceability issues for all GMO conditional release applications.

"There is now greater transparency around the possible imposition of such conditions.

The new regulations clarify the rules and will help ERMA in its work of realising the recommendations of the Royal Commission on Genetic Modification - proceeding cautiously in enabling New Zealand to pursue the benefits of genetic modification technology," Trevor Mallard said.

Other background

Conditional release means that the release of an organism outside strict containment is approved with controls. Compliance with these is monitored by the Ministry for Agriculture and Forestry. ERMA has not yet approved any conditional release of a GMO.

To date some strictly controlled GM field tests have been approved eg brassicas, onions). ERMA is currently considering the first ever application for a GM conditional release - for a GM vaccine to combat horse flu. This was going to a public hearing on 7 October. The horse flu vaccine will also need approval from the NZ Food Safety Authority's Agricultural Compounds and Veterinary Medicines Group.

Regulations being developed for international carbon credits

beehive.govt.nz — Thu, 09 Oct 2008 12:08:26 +1300

The government is developing regulations to specify the carbon credits known as assigned amount units that will be accepted for compliance with the emissions trading scheme, Climate Change Minister David Parker announced today.

"The ETS legislation allows imported assigned amount units, or AAUs, to be surrendered under the New Zealand emissions trading scheme, but only where these AAUs meet the environmental conditions specified in regulations," David Parker said.

"It's important that people buying AAUs to comply with the emissions trading scheme know exactly which ones they'll be allowed to surrender. The regulations will need to be worked through carefully to make sure the classes of AAUs that will be accepted are clearly defined.

"Where a country has AAUs for sale for reasons other than successful domestic emissions reduction policy, the government will be seeking assurances that the units have been appropriately ‘greened'.

"One obvious example of a greening arrangement is where the seller country has legislation in place requiring all revenue from AAU sales to be invested in emissions reduction or other environmental projects.

"AAUs from countries with strong emissions reduction policies are also likely to be accepted. In future, if the New Zealand scheme is linked with another country's emissions trading scheme, then AAUs from that country would also be accepted."

The draft regulations are being prepared now and will be released early in the new year. There will be an opportunity for the public to make submissions before the regulations are finalised.

The regulations are expected to be issued in June 2009 and come into force three months later.

For more information about the emissions trading scheme, visit www.climatechange.govt.nz or call 0800 CLIMATE (254 628).

Environment Judge Appointed

beehive.govt.nz — Wed, 08 Oct 2008 19:05:37 +1300

Jane Evelyn Borthwick, Barrister of Christchurch, has been appointed an Environment Judge, Attorney-General Michael Cullen announced today.

Ms Borthwick, who has a BA (Hons) in Geography and LLB (Hons), was admitted to the bar in 1994. Following admission she worked for six months with Rob Harrison, a Criminal Barrister, before joining Saunders and Co and being admitted into partnership in 1998. In June 2003 Ms Borthwick joined Young Hunter as an Associate leaving the firm in 2007 to commence practice at the Bar when she joined Canterbury Chambers.

Ms Borthwick's practice has, particularly over the last 4 years, been principally focused on resource management with extensive involvement in water rights issues throughout Canterbury. Other relevant resource management work included acting as a hearing commissioner in respect of several marine farm and water right applications in Canterbury.

Ms Borthwick will be sworn in at Christchurch on 11 November 2008 and will sit in Christchurch.