Patulous – spreading; spread widely apart; wide open or distended.
• Rural regions and their manufacturing-based economies are shrinking
• Decline at odds with high mineral endowment in rural areas
• RMA and lack of incentives are major hurdles to resource development
The minerals sector can help revive New Zealand’s struggling rural economies, but only if the government reduces the complexity of the Resource Management Act and creates financial incentives for local government.
This is a key finding of Poverty of Wealth: Why Minerals Need to be Part of the Rural Economy, the latest report produced by public policy think tank, The New Zealand Initiative. . .
Fonterra farm fund seen as stepping stone – Andrea Fox:
Dairy farmers interested in buying land through an equity partnership trust being proposed by Fonterra would need to show they would be profitable enough to one day buy back the farm, says the co-operative’s shareholder council.
Fonterra is planning a new fund to invest in farms and has begun talks with potential investors.
The trust would be a partner that would invest in farming operations through a minority stake.
Council chairman Ian Brown said the trust could be particularly helpful to young farmers wanting to buy their first farm. Established farmers wanting to buy the next-door property and those involved in equity farming partnerships could also find it useful, he said.
Whatever the type of farming operation, it would have to be profitable, and profitable enough, to have the ability to buy the trust out at some point, Brown said. . .
Maniototo farm impresses Peren Cup judges -Sally Rae:
When the judges of the Sir Geoffrey Peren Cup competition visited the Lindsay family’s farm in the Maniototo, they were impressed with what they saw.
Creekside Farms Ltd is farmed by Adam Lindsay, his partner Jules Blanchard, and his mother Karen Lindsay.
The family was one of four entrants in this year’s competition, which is held annually in the region that is hosting Perendale New Zealand’s national conference.
A field day was held last week at Creekside Farms, between Kyeburn and Ranfurly, where an impressive farming operation, including extensive development, was outlined. . .
Hailstorm misses strawberries – Sally Brooker:
Waimate’s main strawberry fields escaped last week’s hailstorm and are looking good for the season.
Donald Butler, who, with wife Jackie, owns Butler’s Berry Farm and Cafe, said they were lucky the hail that bombarded the east coast last Wednesday skirted around their property alongside State Highway 1 at Hook, just north of Waimate.
”It was close, but it’s all good.”
The fruit was ”all coming on quite nicely”, with strawberries already on sale. Those he took to the Otago Farmers’ Market in Dunedin on Saturday sold quickly and customers told him they were ”tasting good”. . .
Primary Industries Minister Nathan Guy and Trade Minister Tim Groser have welcomed the one year anniversary today of the Economic Cooperation Agreement between New Zealand and the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu on Economic Cooperation (ANZTEC).
“Since then exports to have increased over 20 percent compared with the same period the previous year, a $150 million increase,” says Mr Groser.
“Over 69 percent of New Zealand’s exports to Chinese Taipei are now tariff free, representing savings of around $78.4 million to date.”
The agreement will see complete removal of tariffs on New Zealand’s current exports to Chinese Taipei, with 99 percent eliminated in four years. . .
Associate Minister for Primary Industries Jo Goodhew has welcomed the implementation of a programme that allows timber products to be exported to Australia without chemical treatment.
“After a successful trial last summer, the Secure Pathway Programme has been opened up to industry in a bid to reduce the use of methyl bromide during the flight season of the burnt pine longhorn beetle,” Mrs Goodhew says.
“All exporters now have a new option for treating products such as sawn timber, timber mouldings, panel products and veneer sheets.
“The alternative process creates a physical barrier between the wood product and this wood boring beetle, preventing infestation and reducing the usage of methyl bromide.” . .
Inflation targeting has delivered price stability without reducing long-term growth, and remains the appropriate focus for monetary policy, Reserve Bank Governor Graeme Wheeler said today. . .
“Price stability has brought many benefits. It enables people to plan and contract with greater certainty for longer periods. It reduces the inflation risk premium in interest rates and the need for speculative inflation hedges, and it reduces the insidious toll that inflation exacts on the more vulnerable and less financially sophisticated,” Mr Wheeler said.
The opposition’s calls for a less rigorous approach to controlling inflation is foolish.
Inflation is theft, it erodes the real value of savings and that hits the poorest hardest.
“In the 20 years before the Act, annual real GDP growth averaged 2.2 percent while annual inflation was volatile around an average of 11.4 percent. Since 1990, real GDP growth and annual inflation have averaged 2.6 and 2.3 percent respectively, and there has been a marked decline in inflation variability.”
Mr Wheeler said the Reserve Bank is a ‘flexible inflation targeter’.
“We seek to anchor inflation expectations close to the price stability objective while retaining discretion to respond to inflation and output shocks in a flexible manner.”
This flexible, medium-term approach to policy was drawn on at the outset of the Global Financial Crisis when the Bank lowered the Official Cash Rate by almost 6 percentage points in 2008-2009, even though headline inflation was initially well above target. This policy stance was able to cushion the impact of the crisis.
In order to do its job effectively, Monetary Policy needs to be supported by prudent fiscal policy and sound structural adjustment policies. Monetary policy can affect the demand for housing and help ease imbalances in the housing market while supply is increased. But it cannot free up more land constrained by zoning regulations, address procedural and pricing issues around planning consents, offset tax policies in the housing sector, or raise productivity in the construction sector. . .
The tax and spend policies proffered by opposition parties before the election would have been inflationary and pushed up interest rates.
Housing prices reflect supply and demand. The best way to address that is to increase the supply where it’s not meeting demand. Local government has a big part of play in doing that by sensible zoning and simple and timely consent processes.
The full speech is here.
New Zealand has another first place to celebrate:
The Animal Protection Index, which ranks 50 countries across the world on their animal welfare standards, places New Zealand (along with the United Kingdom, Austria and Switzerland)in first place.
The Index is a breakthrough project by global charity, World Animal Protection, with the aim of improving the welfare of animals through policy and attitudinal change; and ultimately through enhanced legal protection.
Bridget Vercoe, Country Director at World Animal Protection in New Zealand, says:
“It is extremely pleasing to see New Zealand ranked up there with the highest index score. This is something we can all be very proud of.”
“Whilst this is great news for New Zealand, there are still improvements to be made in animal welfare. The Animal Welfare Act, which is currently under review, is a good example of how New Zealand is continuing to make positive change for animals. To stay at number one, it is vital we keep progressing in matters of animal welfare.”
“World Animal Protection looks forward to working with the Government to ensure New Zealand maintains its leadership position.”
For The Animal Protection Index countries were ranked according to a number of indicators.These indicators include:
The recognition of animal sentience (animals can feel pain and suffer); the presence of effective governance structures; implementation of animal protection policy; legislation and standards; provision of humane education and promotion of effective communication and awareness. Animals used in farming; animals in captivity; companion animals (pets); animals used for draught or recreational purposes; animals used in scientific research and wild animals are each considered separately.
The ranking is to be celebrated but should not be seen as cause for complacency.
Animal welfare is important everywhere on moral grounds. In New Zealand it is also economically important because of our dependence on exports of primary production especially produce from the sheep, beef, dairy, deer and fishing sectors.
The full report is here.
1420 – Henry V of England entered Paris.
1640 – End of the Iberian Union: Portugal acclaimed as King, João IV of Portugal, thus ending a 60 year period of personal union of the crowns of Portugal and Spain and the end of the rule of the House of Habsburg (also called the Philippine Dynasty).
1761 Marie Tussaud, French creator of wax sculptures (Madame Tussauds), was born (d. 1850).
1768 – The slave ship Fredensborg sank off Tromøy in Norway.
1821 – The first constitution of Costa Rica was issued.
1822 – Pedro I was crowned Emperor of Brazil.
1824 – U.S. presidential election, 1824: Since no candidate had received a majority of the total electoral college votes in the election, the United States House of Representatives was given the task of deciding the winner in accordance with the Twelfth Amendment to the United States Constitution.
1826 – French philhellene Charles Nicolas Fabvier forced his way through the Turkish cordon and ascended the Acropolis of Athens, which had been under siege.
1834 – Slavery was abolished in the Cape Colony in accordance with the Slavery Abolition Act 1833.
1898 – The first movie was shot in New Zealand.
1864 – In his State of the Union Address President Abraham Lincoln reaffirmed the necessity of ending slavery as ordered ten weeks earlier in the Emancipation Proclamation.
1913 – The Buenos Aires Subway started operating, the first underground railway system in the southern hemisphere and in Latin America.
1913 – The Ford Motor Company introduced the first moving assembly line.
1913 – Crete, was annexed by Greece.
1918 – Iceland became a sovereign state, yet remained a part of the Danish kingdom.
1918 – The Kingdom of Serbs, Croats and Slovenes (later known as the Kingdom of Yugoslavia) was proclaimed.
1919 – Lady Astor became the first female Member of Parliament to take her seat in the House of Commons (she had been elected to that position on November 28).
1925 – World War I aftermath: The final Locarno Treaty was signed in London, establishing post-war territorial settlements.
1932 – Matt Monro, English singer, was born.
1933 – Pilot E.F. (‘Teddy’) Harvie and his passenger, Miss Trevor Hunter, set a record for the longest flight within New Zealand in a single day. They flew approximately 1880 km between North Cape and Invercargill in 16 hours 10 minutes.
1934 – Politburo member Sergei Kirov was shot dead by Leonid Nikolayev at the Communist Party headquarters in Leningrad.
1935 Woody Allen, American film director, actor, and comedian, was born.
1939 Lee Trevino, American golfer, was born.
1940 Richard Pryor, American actor, comedian, was born.
1945 Bette Midler, American actress and singer, was born.
1946 Gilbert O’Sullivan, Irish singer, was born.
1952 – The New York Daily News reported the news of Christine Jorgenson, the first notable case of sexual reassignment surgery.
1955 – American Civil Rights Movement: In Montgomery, Alabama, seamstress Rosa Parks refused to give up her bus seat to a white man and is arrested for violating the city’s racial segregation laws.
1958 – The Central African Republic became independent from France.
1958 – The Our Lady of the Angels School Fire in Chicago killed 92 children and three nuns.
1959 – Cold War: Opening date for signature of the Antarctic Treaty, which set aside Antarctica as a scientific preserve and bans military activity on the continent.
1961 – The independent Republic of West Papua was proclaimed in modern-day Western New Guinea.
1965 – The Border Security Force was formed in India as a special force to guard the borders.
1969 – Vietnam War: The first draft lottery in the United States was held since World War II.
1971 – Cambodian Civil War: Khmer Rouge rebels intensified assaults on Cambodian government positions, forcing their retreat from Kompong Thmar and nearby Ba Ray.
1971 – The Indian Army recaptured part of Kashmir occupied forcibly by Pakistan.
1973 – Papua New Guinea gained self government from Australia.
1974 – TWA Flight 514, a Boeing 727, crashed northwest of Dulles International Airport killing all 92 people on-board.
1974 – Northwest Orient Airlines Flight 6231, crashed northwest of John F. Kennedy International Airport.
1981 – A Yugoslavian Inex Adria Aviopromet DC-9 crashed in Corsica killing all 180 people on-board.
1981 – The AIDS virus was officially recognized.
1982 – At the University of Utah, Barney Clark became the first person to receive a permanent artificial heart.
1988 – Benazir Bhutto was appointed Prime Minister of Pakistan.
1989 – 1989 Philippine coup attempt: The right-wing military rebel Reform the Armed Forces Movement attempted to oust Philippine President Corazon Aquino in a failed bloody coup d’état.
1989 – Cold War: East Germany’s parliament abolished the constitutional provision granting the communist party the leading role in the state.
1990 – Channel Tunnel sections started from the United Kingdom and France meet 40 metres beneath the seabed.
1991 – Cold War: Ukrainian voters overwhelmingly approve a referendum for independence from the Soviet Union.
2001 – Captain Bill Compton brought Trans World Airlines Flight 220, an MD-83, into St. Louis International Airport bringing to an end 76 years of TWA operations following TWA’s purchase by American Airlines.
2001 Aiko, Princess Toshi of Japan, was born.
2009 – The Treaty of Lisbon, which amended the Treaty on European Union and the Treaty establishing the European Community, which together comprise the constitutional basis of European Union, came into effect.
2013 – China launched Yutu or Jade Rabbit, its first lunar rover, as part of the Chang’e 3 lunar exploration mission.
2013 – At least four were killed and 63 injured following a Metro-North Railroad train derailment nearSpuytenDuyvil, Bronx, New York City.
Sourced from NZ History Online & Wikipedia.