The Reserve Bank announced:

“Following the completion of the review commissioned by the Board in March, we are pleased to announce modernised capital rules that will support an efficient and resilient financial system,” said Rodger Finlay, Chair of the RBNZ Board.

“We recalibrated our risk appetite to have regard to our new Financial Policy Remit, and to reflect important developments since 2019, including the introduction of the Depositor Compensation Scheme, and more intensive supervision, enforcement, and resolution approaches. This led us to ease common equity requirements across the system by around $5 billion compared to current levels, while still remaining confident in our system resilience.”

The package announced today includes reduced requirements for common equity, more granular risk weights, simplification of capital instruments, and greater alignment of instruments for the ‘big four’ banks with Australian settings. The final package further refines risk weights consulted on in August.

The previous requirements were somewhere between overly conservative and punitive. They were greater than other jurisdictions. The tension is:

Capital requirements are a foundational part of our prudential framework. Our rules specify the minimum percentage of a deposit taker’s funding that must come from its owners. Capital requirements that are too low risk deposit takers being unable to absorb unexpected losses when they arise and therefore failing – which may impose a direct fiscal cost on New Zealand taxpayers, as well as reducing the long-run prosperity and well-being of New Zealanders. Conversely, capital requirements that are too high can reduce credit availability and increase costs unnecessarily.

So this will allow more lending, at a lower cost.

Melissa Lee has put a bill into the ballot to make some good reforms to the Harmful Digital Communications Act. The ACT has provided relief to many people who have suffered online harm, but has also been weaponised to stop legitimate criticism.

They key changes proposed are:

• Interim orders are only to be made if they are necessary to prevent or reduce ongoing harm to the applicant
• Interim orders without notice must only be made in extraordinary circumstances where ongoing or imminent harm to the applicant is severe
• Provides that digital communications that are in the public interest or made for a lawful purpose are not offences
• Political commentary is given a higher level of protection
• Final orders can’t be made on a without notice basis

These seem eminently sensible, and I hope if the bill is drawn all parties support it.

The health system is slowly turning around, with key indicators improving. Still a long way to go, but the latest data on mental health targets is encouraging. Over the last year we have seen:

• Mental health and addiction-related stays in ED <6hrs from 63.5% to 66.8%
• Accessing specialist mental health and addiction services seen within three weeks of referral from 80.4% to 82.2%
• Accessing primary mental health and addiction services  within one week from 80.8% to 83.4%
• 349 more mental health and addiction professionals trained
• Mental health and addiction ringfenced investment allocated to prevention and early intervention up from 23.9% target to 24.4%

The overall health system targets have mainly improved since the year to June 2024.

• Cancer treatment within 31 days from 83.5% to 86.8%
• 24 month immunisation rate from 76.5% to 82.6%
• Seen in ED within six hours from 71.2% down to 68.9%
• Specialist appt within four months from 61.5% to 65.9%
• Elective treatment within four months from 61.4% to 65.9%

So the ED waiting time is the only one not improved, and has to be the major focus going forward.

For those interested this was the record under Labour:

• Cancer treatment within 31 days from 88.6% to 83.5%, down 5.1 percentage points
• 24 month immunisation rate from 91.9% to 76.5%, down 15.4 percentage points
• Seen in ED within six hours from 89.5% down to 71.2%, down 18.3 percentage points
• Specialist appt within four months from 97.8% to 61.5%, down 36.3 percentage points
• Elective treatment within four months from 95.1% to 61.4%, down 33.7 percentage points

Labour’s legacy was a disaster.

In Nepal, young social media users highlighted displays of wealth by families of government officials. The Govt tried to ban social media, and protests occurred resulting in the fall of their communist Prime Minister.

In Bulgaria, the Government announced tax hikes to fund the pay of high-ranking officials, government administration and security institutions, and protests brought that Government down within weeks.

And the Iranian regime is tottering over massive nationwide protests as a result of a cost of living crisis fuelled by high inflation and tax increases.

Centrist Publishing has released:

Centrist Publishing says it is prepared to respond to dozens of formal complaints following its television campaign forJacinda: The Untold Stories during the Graham Norton show on TVNZ 2, Friday night.

The advertisements — which promote the book’s bestseller status under the tagline “The Real Story”, and reference discussion around a potential UN role and a US$20 million philanthropic gift from Melinda Gates — aired multiple times during Ardern’s interview with Graham Norton on TVNZ 2, and again later in the evening.

That’s very funny that they advertised the book, during hew Graham Norton interview.

Incidentally the book has been on the NZ best seller lists for the last four weeks, yet I’ve yet to see a single review of it in legacy media.

It is a truism to stage that John Clarke was a brilliant man.

This week I am going to the movies to see:

It is appropriate to remember that his did the first formal evaluation of a “knowledge based curriculum” in New Zealand.

We have lost so much in NZ over the last 20 years by choosing to take politicians so seriously.

[email protected]

Stuff writes:

“Takiri Mai te Ata Trust regional manager Catherine Manning said the Wellington-based trust received an email this week stating it had to either start supplying the vape kits or have its contract terminated, despite signing a new contract earlier that year.”

They are funded to stop people smoking.

“Health NZ gives the trust just under $3 million across a two year period. It must complete targets to renew its contract – such as having 60% of its referrals enrolled, and recieved [sic] 1500 referrals last year.”

So, Takiri Mai te Ata Trust had to enrol at least 1,500 smokers over two years at a minimum average cost of $2,000 each.  What Stuff does not ask, or tell readers, is what the Trust’s quit rate was. They were given $3 million of taxpayer funding and that is a lot of money.

It transpires that Casey Costello’s $575,000 vape kit trial, which got a lot of stick from the usual suspects at Otago Public Health, has contributed 36% of all confirmed quitters in just the first eight months of 2025.  That is amazing data so why does Stuff bury it:

“Of the 5261 people who quit smoking between January and August this year, 1889 people – 36% of people who quit smoking – used a Health New Zealand vape kit.”

At $319 per confirmed quitter, this seems great value compared to a minimum $2,000 for an enrolled smoker at the Takiri Mai te Ata Trust, where we have no clue as to how many quit after millions of taxpayers dollars. 

Despite 25-years of taxpayer support for the Takiri Mai te Ata Trust, potentially adding up to tens of millions, the words of Trust regional manager Catherine Manning suggest it had forgotten the point of taxpayer funding, is smoking cessation:

“Vaping did not morally or ethically align with Māori tikanga, and she said the trust had a desire to protect both the breath and the whakapapa.”

That’s nice. But if they won’t use the methods that are most effective in getting Maori to stop smoking, then they shouldn’t expect taxpayer money for being ineffective.

Full marks to Casey Costello for backing what works and axing what doesn’t. 

The BBC reports:

Campaigner Keira Bell has told the BBC she believes the planned clinical trial of puberty blocking drugs for gender-questioning children is unethical and children “are essentially going to be harmed”.

The Pathways trial, run by King’s College London researchers, will look at how to improve care for children under 16 at NHS gender clinics.

The UK medicines’ regulator has approved the study to begin in January, and the research team says it has been designed “to meet rigorous scientific and ethics standards”.

Ms Bell and fellow campaigner, psychotherapist James Esses, have sent lawyers’ letters to Health Secretary Wes Streeting and medical research organisations arguing it should be stopped.

I disagree on this issue.

Medical “establishments” in multiple countries did fail to provide good care to young persons who are gender dysphoric or incongruent. There was a culture that any incongruence must mean they are trans, and should get puberty blockers. Shamefully staff who protested this were often silenced for forced out. It is quite possible a large number of girls who were merely lesbians, were convinced they were in fact trans as only one solution was put forward to their gender incongruence or dysphoria. It is quite legitimate to be very wary of what many of these medical groups did or said.

The Cass Review found that the evidence for the benefits and risks of puberty blockers was weak, and the (Labour) UK Government banned them as a result until there was better evidence. The NZ Government has taken a similar stance to the UK Government.

But one can condemn what happened in the past, but also be open to what a proper trial will find in terms of benefits and risks. Just because the evidence in the past was poor or weak, doesn’t mean we should say that there is no need to try and gain strong useful evidence.

My general position is that the younger the person is, the higher the barrier should be to assessing whether they should be able to consent to and receive drugs such as puberty blockers. An 8 year old is very different to a 14 year old, for instance. But I am very interested in the findings of a high quality trial, and then an informed debate on whether puberty blockers are appropriate for gender dysphoria – and if so at what age and under what conditions.

I quote Dr Hilary Cass:

Dr Hilary Cass said she was “really pleased” Prof Simonoff and the KCL team were undertaking the trial.

She said: “My review uncovered a very weak evidence base for benefits from the use of puberty blockers for children and young people with gender dysphoria. In fact, some children had more negative than positive effects.

“However, given that there are clinicians, children and families who believe passionately in the beneficial effects, a trial was the only way forward to make sense of this.”

She added: “Although a lot of media attention has focused on the trial, they have a much broader research programme. Following the outcomes for young people who do not elect for a medical pathway will be just as important as following those who do.”

I agree with Dr Cass.

Today I was counterprotesting the anti-Israel protest in Auckland CBD by holding a sign saying HAMAS RAPED ROMI GONEN and almost immediately anti-Israel protesters came to block the public’s view of my sign with a large kheffiyeh. Romi Gonen, by the way, is a civilian Israeli hostage who was kidnapped from the Nova music festival.

The protesters remained in front of me blocking my sign for the entire duration of the protest. I took footage:

I have never before got angry at any of these protests, even though I found the same man blocking a sign a few weeks ago saying HAMAS IS A TERRORIST ORGANISATION to be appalling. Today crossed a line. It is disgusting, appalling, outrageous beyond belief that the same demographic of people who otherwise tell the world to “believe all women” and that the burden of proof should be reversed in criminal rape cases are silencing Romi Gonen’s story.

I asked the man in the first video how he would feel if Hamas had raped his mother or his sister. No reply. I note that both of the people who blocked the sign are Kaiāwhina (helpers) i.e. staff associated with the event.

The Herald reports:

A long-running investigation into West Auckland social services provider Waipareira Trust’s hundreds of thousands of dollars of political donations to the campaigns of its chief executive John Tamihere has concluded with the charity avoiding deregistration.

Incredible.

A further story reports:

As the Waipareira Trust faced pressure from regulators in May 2023 over whether it would recoup more than $385,000 advanced in contentious loans to support the political campaigns of its chief executive John Tamihere, the charity awarded its boss a bonus totalling the exact amount owed to enable repayment.

This was just blatant defiance of the regulator and the law. They were told the it was illegal to donate to political campaigns, so they said it was a loan. They were then told the loan must be repaid, and they paid a non-contractural bonus to Tamihere in the exact amount of the loan, which effectively did make it a donation again. It was blatant defiance, yet the charity regulator rewards them with a wet bus ticket instead of reregistration.

A spokeswoman for regulator Charities Services also said the settlement would see changes at the top of the Waipareira Trust. “Tamihere will no longer be employed by Te Whānau o Waipareira Trust,” the spokeswoman said, adding that he would remain employed by a cluster of other charities restructured as the Waipareira Investment Group.

In a statment published Thursday afternoon on Waipareira’s Facebook page, chairman Raymond Hall acknowledged the CRB decision, but disputed any change in role for Tamihere.

“There are no changes to Waipareira’s trustees or executive leadership because of this decision. John Tamihere continues in his role as chief executive officer of Te Whānau o Waipareira Trust,” Hall said.

Charities Services just look like incompetent fools.

When news first broke of the US attack on Venezuela, I was perplexed as just bombing Venezuela was unlikely to overthrow Maduro, and a full invasion could be costly. I did wonder if it was part of a plan to capture Maduro, and so it was. In just 150 minutes Maduro was a prisoner of the United States, and not a single US solider was killed. From a military point of view it was an incredible operation, and one that could cause other country leaders to have a nervous night’s sleep – be it Cuba or Denmark.

Maduro rigged the last election and was an illegitimate President. His departure will be welcomed by many Venezuelans. There is already huge celebrations. He was guided by Cuban security guards as he couldn’t even trust his own people not to turn on him.

While Maduro was a bad man, does that mean the US was justified in using military force to seize him? There are many countries with bad leaders. The answer is somewhere between a possible yes and a probable no. He was under indictment from US courts on drug charges, and there was a precedent based on the invasion of Panama to seize Manuel Noriega. However Panama actually had declared war on the US, and a US marine was shot at a road block. This gave George H W Bush greater justification. Also there was broad political consensus in the US for military action. I doubt the actions in Venezuela are legal under international law, but it is no surprise Trump would not be concerned with opinions on this.

It is also worth noting that Trump sent troops in to arrest Maduro on drug smuggling charges, but a few weeks ago he pardoned Juan Orlando Hernández, the former president of Honduras, from his 45 year sentence for drug smuggling.

I thought that the removal of Maduro would see María Corina Machado Parisca become President – the 2025 Nobel Peace Prize Winner and opposition leader. But Trump rather dismissively said she is a “nice woman” but not got enough support to be President of Venezuela. Maybe he is annoyed at her for winning what he saw as his peace prize. So for now VP Delcy Venezuela is the President of Venezuela.

Trump has said Secretary of State Marco Rubio and Defense Secretary Pete Hegseth will lead a team to run Venezuela, making this tweet before that announcement even funnier. For those who don’t know Rubio is the Secretary of State, Acting National Security Advisor and Acting National Archivist of the United States.

It is very unclear what will happen next. Trump is not going to do an Iraq and remove all aspects of the previous administration from power (which was a critical mistake). In fact he seems to be doing what I thought should have been done in Iraq, which is to tell the next in line to run the country but behave well or they’ll be captured also.

He has also said US oil companies will take over the running of Venezuela oil. Now their infrastructure was run down by the previous Government, which is partly when so many are now in poverty there. But Trump is saying some of the money will go to the US to reimburse them, so for once we do have a US war that was about oil! (the left thing every US war is about oil!). I am not sure how US companies can run Venezuela oil without US troops on the ground.

It is also very unclear if there will be regional fighting for power, as nature abhors a vacuum. So while the outcome of Maduro in custody with no loss of US life is a good one, it could still turn very messy.

This tweet seems to sum things up rather well!

Steven Price has an insightful take on the Talley vs TVNZ defamation judgment. He doesn’t say the decision is necessarily wrong, but he is very critical of the reasoning by Justice Jagose.

Price says that he expected the case to be decided on whether TVNZ had a defence of truth and/or whether it was a responsible communication in the public interest. But instead the Judge basically ruled that all but one of the stories were not defamatory at all, as in they didn’t lower the reputation of Talley’s at all.

Prince concludes:

I suspect this judgment will be appealed. One problem is that, because of the way the judge approached the case, particularly in his findings about meaning, there is no analysis of all the evidence relating to truth (or not) and responsible communication (or not) for almost all the broadcasts and articles sued over. So if my analysis above is anywhere in the ballpark, and an appeal is upheld, we’re probably looking at a new trial. Which seems very hard on both parties.

If I was Talleys, I would be appealing. That doesn’t mean they will win next time, but that the reasoning in this decision was rather poor.

The United States has launched military strikes in Venezuela. There has been no word yet on what the intent of the strikes are, and whether there will be a ground invasion.

The intent could be regime change, or to take Maduro into custody, or just to discourage the drug trade.

At this stage it appears to be more than just missiles from carriers. There are reports of numerous US planes in Venezuela air space also striking targets.

UPDATE: The BBC reports Trump saying they have Maduro and his wife in custody. Huge.

Few things disturb me more than a parent killing their children just to spite the other parent and stop them gaining access to them. It is such an evil malicious act.

The majority of parents who do this are men. But not universally. The Guardian reports:

An American woman accused of killing two of her children after a Colorado judge demanded she comply with a custody order has been extradited from Britain, where she was arrested, to the United States to face charges.

Kimberlee Singler was arrested in Kensington, west London, by officers from the UK’s National Crime Agency in December 2023, a week after her nine-year-old daughter and seven-year-old son were found dead in their home in Colorado Springs, Colorado.

Singler’s 11-year-old daughter was injured but survived. Singler had superficial knife wounds and told police that a man had entered the apartment and attacked the family. The surviving daughter initially backed Singler’s story but eventually told an investigator that her mother said that God made her do it, according to court documents in the United Kingdom.

God had nothing to do with it. She murdered two of her own children rather than allow their father to be able to see them. She tried to frame him for the murders.

Singler, 37, fought extradition and denied attacking her children. Her London defense attorney, Edward Fitzgerald, argued that Singler should not be extradited because if convicted of first-degree murder in Colorado, she would face a mandatory sentence of life without parole – a sentence that violates European human rights law.

Life without parole is the minimum she should get.

I highly recommend this speech (https://www.youtube.com/watch?v=r4Cig58bsr8) by Ben Shapiro to TPUSA calling out grifters such as Nick Fuentes, Candace Owens and Steve Bannon, but also their enablers such as Tucker Carlson and Megyn Kelly.

He knew Carlson and Kelly were following him as speakers, but put the truth ahead of friendships.

Radio NZ reported:

An Otago businessman who founded the country’s biggest ski area is being remembered as someone who shaped his local community over many decades.

Wānaka farmer and entrepreneur John Allandale Lee died peacefully on Sunday surrounded by family,

He was seen as a key figurehead in the economic takeoff of the Cardrona Valley

Lee’s family confirmed the 89-year-old’s passing in a statement on Wednesday.

A second-generation Waiorau farmer, Lee grew up in the tough alpine clime of the Cardrona Valley’s Pisa Range.

“In the late 1960s, the population of Cardrona was in decline, and as things were looking bleak, John got creative – all with the goal of bringing life back to the valley.”

Lee and his wife, Mary bought the historic Cardrona Hotel in 1970 and Mt Cardrona Station a year later.

The couple would spend the following years developing a ski area at Cardrona.

Cardrona Alpine Resort was opened to the public in 1980 and now stands as New Zealand’s biggest ski area.

It is hard to overstate his impact for the Cardrona region. He was a visionary. I actually worked on Cardona during university holidays for a couple of years and it was arguably my best ever job. Great people and a great ski field.

The Guardian reports:

Two Palestine Action-affiliated prisoners have paused their hunger strikes due to deteriorating health but have vowed to resume the protest next year.

Qesser Zuhrah and Amu Gib have temporarily resumed eating, according to a statement released by Prisoners for Palestine group on Tuesday evening.

The pair were among eight prisoners on hunger strike facing charges related to alleged break-ins or criminal damage on behalf of Palestine Action before the group was banned under terrorism legislation in July, charges they deny and have called to be dropped.

So they are “pausing” their hunger strikes until next year. I wonder how many Big Macs they can eat in the next 10 days?

In theory I have been on a 10 year hunger strike. I just pause it three times a day.