The Government’s failure to fix Auckland’s broken housing market has forced the Reserve Bank to keep the Official Cash Rate (OCR) higher than normal hurting exporters and jobs, the Green Party said today. The Reserve Bank kept the OCR unchanged today at 2.25 percent despite economic conditions that favour further cuts. The Bank cited high Auckland house prices and a need for additional housing supply there. “Housing market pressures are building in some other regions,” it added. “National’s failure to...

Mortgage-lending stats released today by the Reserve Bank show that the Government’s unwillingness to put rules in place for property speculation means investors are snapping up houses at the expense of first-time buyers, the Green Party said today. The Reserve Bank’s figures show that 7,006 new mortgage loans were approved for investors in the month to March, while just 2,044 were approved for first-time home buyers. The amount of money lent to investors to buy property was almost three times...

Hawke’s Bay Regional Investment Company (HBRIC) should dump the Ruataniwha Dam proposal, as it has barely scraped together enough interested farmers to use the scheme, the Green Party said today.   “The Ruataniwha Dam has become a farce and should be called off,” said Green Party water spokesperson Catherine Delahunty.   “HBRIC has only just scraped together farmers to commit to use 43 million cubic metres of water, when they need subscribers for 45 million cubic metres of water to...

The National Government must change its economic strategy if it is to have any hope of stopping climate change, the Green Party said today. The comments come following the release of a Royal Society NZ report showing wide-ranging measures must be adopted to curb climate pollution in New Zealand. “New Zealand's top scientists have shown in this report that reducing emissions will require a re-think of the current strategy for agriculture, and that climate targets won’t be met by relying...

27 April 2016 National should let KiwiRail compete for funding from the enormous roading budget and scrap the two-tiered funding system which grossly favour costly highway projects, the Green Party said today. The comments come following a report by KiwiRail showing it considered shutting down its entire freight business to meet the Government’s requirements to deliver a short-term profit. “The $3 billion a year in National’s transport budget should be opened-up to be invested in rail, not just roads," said...

Green Party Chief of Staff Andrew Campbell has announced his resignation from the position after five and a half years with the party. Andrew Campbell has overseen the recruitment process for his replacement, and it is anticipated an appointment will be made within the coming weeks. “Andrew indicated his intention to leave the Greens after the 2014 election, but offered to stay on to oversee the transition to our new male Co-leader James Shaw, and lead the internal change management...

The Green Party says the National Government must commit to stop burning coal at the Huntly power station in 2018 to achieve its own target of 90 percent renewable electricity by 2025. Veteran electricity consultant Toby Stevenson said today it is highly unlikely that New Zealand will reach a level of 90 percent renewable electricity by 2025. The statement comes in the wake of an electricity industry backlash against the decision by Genesis Energy to stop burning coal at Huntly...

Climate Minister Paula Bennett acknowledged this morning on TVNZ’s Q&A that the National Government had knowingly allowed business to buy carbon credits in the Ukraine and Russia that did not result in actual cuts in emissions, the Green Party said today.   This acknowledgement comes in the wake of a report by the Morgan Foundation which showed these false cuts in pollution equated to a quarter of the emissions the Government claimed to have reduced between 2008 and 2012. “Minister...

The Green Party is calling the concept of a 1.3 million hectare Forest Future a potential game-changer that could give New Zealand a real shot a creating a safer climate for future generations. Climate-focused business group Pure Advantage today released a report calling for the planting of 1.3 million hectares of forest to combat climate change and shift New Zealander to a low-carbon economy. “Planting on this scale is a huge but necessary step towards creating a safer climate for...

Wellington bus operator Infratil’s decision to repower its iconic electric trolley buses with electric drivetrains is a victory for the environment and all those who campaigned to keep clean buses in the capital, the Green Party said. “Electric buses will be excellent for Wellington’s air quality and for reducing our contribution to climate pollution,” said Green Party transport spokesperson Julie Anne Genter. “I want to congratulate Infratil for making a good decision, and also congratulate the people who signed postcards...