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Home / Business

The Insider: Yesterday's man

NZ Herald
11 Jun, 2015 05:00 PM4 mins to read

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Press releases put out this week still proclaimed Russel Norman as Green Party co-leader. Photo / Mark Mitchell

Press releases put out this week still proclaimed Russel Norman as Green Party co-leader. Photo / Mark Mitchell

The Greens may have changed leaders - and dropped their chief of staff - but sometimes the message takes a while to get through. Press releases put out this week still proclaimed Russel Norman as co-leader.

Economical family

If the latest OECD report on the NZ economy - out this week - seems a little more informed than previous versions, there could be a good reason. The lead economist, David Carey, is a New Zealand boy. His father, Richard Carey, also works at the OECD, after time at NZ Treasury.

Among lots of other information, the OECD document provides a summary of recommendations from past reviews, and what action New Zealand has taken, if any. If nothing else, this provides a handy guide to political hot potatoes. For example, the recommendation to "Raise the pension eligibility age in line with longevity". Result? "No action taken." Then there's "Implement a capital gains tax". Again: "No action taken." Ditto for "Target the Working for Families programme more tightly on the working poor". And so on through the issues politicians would prefer not to confront.

Audits awaited

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The Novopay debacle has created some real problems for schools in filing their audited financial statements on time. However some audit delays have set off officials' alarm bells, with the Auditor-General's office saying it has concerns about the financial viability of Hukarere College and Te Aute College. The two Hawkes Bay schools are among the worst offenders - both going for four years without issuing audit reports. Likewise, several smaller licensing trusts are not complying with their reporting obligations and are years behind filing audited reports. No government department or select committee is responsible for monitoring licensing trusts, so they essentially get a free ride. There are also problems in other areas; the Tai Tokerau Maori Trust Board, for example, still needed to get four years of financial statements audited. The Insider is sure that in every case, audits will eventually find every cent was well spent.

Creche on the move

Another central Wellington icon is about to change - the creche at the Reserve Bank is to move. For years, the creche has looked after the children of MPs, Reserve Bank staff, MoBIE, Child, Youth and Family and the Ministry of Social Development. The creche that operates in the building at the foot of The Terrace is privately run, and must now look for a new home as the Reserve Bank's priorities change.

Paying to watch

There's been a bit of a fuss over some government departments spending $360,000 on pay-TV subscriptions over the past two years. Labour MPs wondered if this was the best use of taxpayers' money. Of course, some taxpayers may also wonder if paying for all those Sky TV channels in MPs' offices is value for money. It's true Parliament TV is the most watched channel, but some viewers have been known to stray to the occasional sporting fixture. Excellent value for taxpayers, no doubt.

Men of property

Champagne corks should be popping on Shortland St, according to a press release yesterday from accountants Moore Stephens Markhams. Among the top five legal firms, says the release, the net incomes of equity partners ranged from $624,000 to $1,070,000, a substantial increase since a similar survey in 2013. The accountants say this extra income is largely due to Auckland's rampant property market, and the resulting legal work carrying out transactions and meeting unitary plan, resource management and environmental requirements.

Credit card anarchy

Richard Branson's finance company, Virgin Money, is putting Sex Pistols designs on its money cards.
Richard Branson's finance company, Virgin Money, is putting Sex Pistols designs on its money cards.

For those of a certain age, the Sex Pistols remain the symbol of anti-establishment anarchy. But as generations go by the anarchists join the establishment and gradually turn from wild to mild. Case in point: Richard Branson's finance company, Virgin Money, is putting Sex Pistols designs on its money cards. And yes, the cards will carry such famous phrases as "Never mind the bollocks" and "Anarchy in the UK". Because, as one critic noted, "Nothing says 'anarchy' like a credit card."

Labouring the point

Workplace Relations and Safety Minister Michael Woodhouse has been in Geneva this week for the International Labour Conference. He says he was there to discuss both his Workplace Relations and Safety and Immigration portfolios. Given his title, his international counterparts must have been wondering where New Zealand's Labour Minister was.

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