TLDR & TLDL: This week, the Government cut petrol tax and bus and train fares in response to sharply higher fuel costs and a bad poll. The US Federal Reserve finally hiked interest rates and the United States threatened to sanction China if it helped Russia in Ukraine. Simon Bridges retired and was replaced by Nicola Willis as National’s Finance spokesperson. Wellington discovered its water wasn’t being fluoridated because its councils hadn’t invested to replace ageing treatment plants.
The podcast of our weekly ‘hoon’ webinar above included myself, Peter Bale and special guests Professor Robert Patman and Professor Natalia Chaban talking last night about these events of the week, in particular the tragedy and implications from Russia’s invasion of Ukraine, the risks of China choosing to help Russia, the fuel tax cuts and Nicola Willis’ elevation.
This is the freely available weekly sampler email newsletter and podcast I send to both free and paid subscribers. The explanatory and accountability journalism I do on housing unaffordability, climate change inaction and child poverty reduction is only possible with the support of paid subscribers. I thank them and welcome more. Paid subscribers get all the daily emails and podcasts I produce, along with the ability to comment on articles. They also get exclusive invites to attend the weekly hoon via zoom webinar at 4pm on Fridays and my weekly Ask Me Anything session at midday on Fridays.
Five facts that changed this week
Fuel taxes were cut and bus and train fares will be halved
The Government surprised everyone by deciding on Monday to cut fuel excise duties and road user charges by 25 cents a litre overnight for at least three months to help motorists deal with the rise in petrol prices to well over $3/litre. Grant Robertson said it would cost $350m for the three months, but this money was available and unspent in the Covid Response fund, which meant the Government wouldn’t need to borrow more to pay for it.
It also announced bus and train fares would be halved from April 1 at a cost of $25m to $40m per three months, which was welcomed by public transport campaigners and climate activists, who argued the total annual extra cost of making bus and train fares totally free of around $320m made the move do-able.
Here’s the piece I wrote with a podcast on Monday morning arguing cutting fuel taxes to deal with the immediate pain of higher oil prices would be a political issue in dealing with climate change.
Then I put out a special news email as the news conference was finishing.
The next morning I put out an analysis and podcast on the announcement, and in particular what was missing from the point of view of renters with children, and from a climate change point of view.
Why Aotearoa-NZ needs to diversify away from China
This week US officials said they had discovered China had agreed to Russian requests to send drones and missiles to Russia in Ukraine. They said there would be ‘consequences’ for China if this was confirmed, suggesting the United States is on the verge of pushing for secondary sanctions against China for its support of Russia, or at least its failure to condemn Russia.
I put out an analysis and podcast on why Aotearoa-NZ should accelate moves to diversify our exports and imports away from China to avoid the fallout from any de-globalisation that ends with China and Russia together alone behind a new iron curtain.
The Fed hiked and forecast six more
This week the US Federal Reserve finally hiked it’s official cash rate for the first time since December 2018 and forecast six more hikes this year.
I put out an analysis and podcast on Thursday morning that looked at whether this was the end of the Powell Put, and why that mattered to us.
Christopher Luxon replaced a retiring Simon Bridges with Nicola Willis
Simon Bridges surprised us all by announcing his retirement from politics at the age of 45 to start a new career in commerce. Christopher Luxon chose his deputy Nicola Willis to replace Bridges as Finance spokesperson.
I talked about that in the podcast above and in the comments of yesterday’s Ask Me Anything, which had over 80 comments. I’ve opened it up for all to read. Only paid subscribers can comment and get the invites to the weekly hoon and Ask Me Anything events. That’s a hint…
Wellington discovered its water wasn’t being fluoridated
This is an extraordinary local story that speaks to the systematic underinvestment in public infrastructure and services over the last 30 years, which is hurting our physical, social and economic health day in and day out.
I put out an analysis and podcast on Friday on how this came about and what effect it is having. I’ve included a few of the latest scoops from others below.
Weekend reading and listening
Some fun things
Click through to see the short video. It’s glorious.
Ka kite ano
Bernard
The week that was for the week's end