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Ngati Tamaoho Treaty settlement third reading

Minister for Treaty of Waitangi Negotiations Andrew Little acknowledges and welcomes the rangatira of Ngāti Tamaoho who came to Parliament for the significant third reading of their Treaty settlement legislation.

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Unacceptable culture and conduct

Justice Minister Andrew Little and Under-Secretary Jan Logie have received the independent review into allegations of sexual misconduct, harassment and bullying at leading law firm Russell McVeagh.

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Eighty new Police recruits begin training

Police recruitment is taking another significant step forward with the arrival of eighty new recruits who begin training today at the Royal New Zealand Police College.

Police Minister Stuart Nash has extended a welcome to the recruits of Wing 319 who arrived over the weekend and begin their formal training today.

“I am delighted to see the diverse demographics of Wing 319,” Mr Nash says.

“There are 37 women, representing 46 per cent of the new recruits in this wing. Police have a goal of women making up 50 percent of new recruits as part of the longer-term plan to have more women entering senior ranks.

“Fifteen percent of the new recruits identify as Maori, just under eight percent as Pasifika, and nine percent as Asian. The youngest recruit is 18 years old and the eldest is 46.

“There is a tough 16-week training course ahead of these 80 recruits and I wish them all the best. They have shown a great deal of dedication and hard work to even make it into formal training and I acknowledge their commitment and the support of their families.

“Before they arrive at Police College every applicant sits a series of tests. They have to demonstrate their fitness levels, reasoning abilities and character, undergo reference checks and a medical examination. They must prove their skills at communication, building relationships, solving problems and delivering a high standard of service.

“We are building a stronger policing presence in our neighbourhoods to increase community safety and prevent crime. We set aside $300 million in new operating funding in this year’s Budget as a first step towards our goal of 1800 new Police officers and 485 new support staff over three years.

“I offer my thanks also to the Chief Executive of MBIE, Carolyn Tremain, who has agreed to be the Patron of Wing 319. Ms Tremain will offer valuable guidance and act as a mentor to the recruits, sharing her extensive knowledge of leadership and service in the public and private sectors,” Mr Nash says.

 


Ngāi Tai ki Tāmaki Claims Settlement Bill

Minister for Treaty of Waitangi Negotiations Andrew Little acknowledges and welcomes the rangatira of Ngāi Tai ki Tāmaki for coming to Parliament for the third and final reading of their Treaty settlement legislation.

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Multinationals to pay fair share of tax

New measures to ensure multinational companies pay their fair share of tax will come into force next week.

The Taxation (Neutralising Base Erosion and Profit Shifting) Bill tonight passed its third reading in Parliament. Revenue Minister Stuart Nash says it takes effect from 1 July and will considerably improve the integrity of the tax system.

“Companies should ideally pay tax in the right country,” says Mr Nash. “This legislation will ensure that multinationals pay tax based on the actual economic activity they carry out in New Zealand.

“It is not in the interest of New Zealand taxpayers if multinational companies avoid paying taxes here. The changes address the problem of companies operating cross-border and using aggressive tax structuring to reduce the tax they pay.

“Estimates from Inland Revenue are that these measures could result in an extra $200 million of tax revenue each year, once fully phased in. This will contribute to other Government priority areas like health, housing, education and policing.

“Ultimately however this is a matter of fairness – multinationals paying their fair share. Most multinationals operating here pay the tax they should and are compliant. But some adopt base erosion or profit shifting [BEPS] strategies to minimise their tax obligations.

“The BEPS strategies distort investment and threaten the integrity of tax systems all over the world. It also means Governments lose out on tax revenue. Unlike smaller domestic companies and individuals, large companies with cross-border structures can exploit opportunities to get around tax rules.

Mr Nash says the BEPS legislation is a first step, and he has asked Inland Revenue officials to work closely with international agencies like the OECD and G20 to consider whether further measures are required.

“These changes enjoy the unanimous support of Parliament and are possible thanks to the work of MPs from all political parties, as well as valuable advice from tax professionals and useful submissions from members of the public.

“We will have a better, fairer tax system as a result of these changes,” Mr Nash said.

The changes will prevent multinationals from using BEPS strategies, including:

  • artificially high interest rates on loans from related parties to shift profits out of New Zealand
  • related-party transactions which are intended to shift profits to offshore group members in a manner that does not reflect the actual economic activities undertaken in New Zealand and offshore
  • hybrid mismatch arrangements that exploit differences between countries' tax rules to achieve an advantageous tax position
  • artificial arrangements to avoid having a taxable presence or a permanent establishment in New Zealand
  • tactics to stymie an Inland Revenue investigation, such as withholding relevant information that is held by an offshore group member.

Heretaunga Tamatea Claims Settlement Bill

Minister for Treaty of Waitangi Negotiations Andrew Little has welcomed and acknowledged rangatira of Heretaunga Tamatea iwi who attended Parliament today to hear the third reading of their Treaty settlement legislation.

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Aquaculture drives seafood export earnings

New Zealand’s export earnings from seafood are on the rise, with aquaculture leading the way, says Fisheries Minister Stuart Nash.


The Ministry for Primary Industries’ Situation and Outlook report for June 2018 predicts New Zealand’s seafood export earnings will grow from $1.8 billion to $2.1 billion by June 2022.

“Aquaculture is set to be the main driver for the forecast growth, thanks largely to increased mussel harvests, and higher prices as demand continues to grow in key markets,” says Mr Nash.

“We expect hatchery-bred spat to be a boon for mussel production. We are already seeing better mussels as a result of hatchery spat produced through the SPATnz Primary Growth Partnership programme.

“We are also seeing salmon production increasing with three new farms operating in the Marlborough Sounds. 

“Aquaculture export earnings are forecast to reach $430 million this year and reach nearly $600 million in 2022. Export earnings for New Zealand’s wild capture fish products are expected to reach $1.4 billion this year and climb to $1.5 billion in 2022.

“We expect to see higher prices as a result of more people wanting to eat fish and reduced global supply due to China’s plans to reduce its catch,” says Mr Nash.

“It is clear the environmental credibility of our seafood products will be a vital factor in our export success. The Marine Stewardship Council has certified many of our fisheries as sustainable. Further certification of this kind will support export prices.

“Innovative approaches to harvesting will also play their role.  This Government’s recent regulation changes have allowed the use of innovative trawl technology to allow more precise fishing and to produce high quality products such as those under the new Tiaki brand.”

 


Three Strikes repeal not going to Cabinet

A proposal to repeal Three Strikes is not going before Cabinet today on the basis that New Zealand First have indicated they would be unlikely to support it, says Justice Minister Andrew Little.

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