Fonterra’s Capital Restructuring

Fonterra's Capital Restructuring When Fonterra was formed under its own special legislation, the government sought to level the playing field for competitors and expose Fonterra to pressures to perform. Constraints were placed on the mega co-op, many of which have since been removed or relaxed. Fonterra is now proposing a capital restructure [...]

How are the Government’s Commercial Businesses Faring?

How are the Government’s Commercial Businesses Faring? Currently, the government owns or part-owns eighteen large commercial businesses with combined assets totalling $78 billion. These businesses include three electricity generator/retailers, an airline, a post/courier company, a bank and minority stakes in three airports amongst other enterprises. Together these commercial enterprises account for 10% [...]

Gambling – A cost or a benefit?

Gambling – A cost or a benefit? Gambling is a form of entertainment subject to much debate. Gambling provides enjoyment for many, problems for some and is a source of funding for others. Despite its controversy, the majority of studies to date look solely at one side of the issue, that of [...]

Hannah at APEC CEO Summit 2021 launch

Hannah at APEC CEO Summit 2021 Launch The TDB team is proud of our analyst Hannah Pattullo, who shared the stage with PM Jacinda Ardern as the youth panellist at recent APEC CEO Summit 2021 launch event. Hannah spoke on behalf of New Zealand youth, with a message to APEC leaders surrounding the importance of [...]

BFG review for Treasury

BFG Review for Treasury Mid last year The Treasury commissioned TDB to conduct a review of the Business Finance Guarantee (BFG), a scheme set up to provide loans to struggling businesses amid COVID-19. Based on our analysis of New Zealand’s BFG scheme and review of similar schemes in comparable countries, we recommended [...]

The year of zoom

The year of Zoom Welcome to the November 2020 edition of the TDB Digest. For many of our readers, lockdown life this year saw just about everything moved to Zoom or other video-conference providers, from client meetings to team chats to Friday work beers. Despite the drop in physical contact, TDB members [...]

Market studies by the Commerce Commission

Market studies by the Commerce Commission The government has stated it will progress legislation to allow the Commerce Commission to undertake “market studies” of various sectors. But what are market studies; what will be the scope of such studies; who will be able to initiate them and who will pay; and which [...]

Georgia – The Public Sector Balance Sheet

Georgia - The Public Sector Balance Sheet The New Zealand government currently owns thirteen state-owned enterprises (SOEs). The Georgian government on the other hand owns approximately 160 SOEs with a further 70-plus owned by local government. Over the last year, TDB director Phil Barry has had the opportunity to work on behalf [...]

State-owned enterprises in Georgia

State-owned enterprises in Georgia The New Zealand government currently owns thirteen state-owned enterprises (SOEs). The Georgian government on the other hand owns approximately 160 SOEs with a further 70-plus owned by local government. Over the last year, TDB director Phil Barry has had the opportunity to work on behalf of the International [...]

The Mixed Ownership Model – did it work?

The Mixed-Ownership Model - did it work? In a recent article in the NBR entitled “SOEs’ selldown rewarded investors, not taxpayers”, Brent Sheather discussed the results of the selldown by the Crown of 49% of its shares in Meridian Energy, Genesis Energy and Mercury (the “Mixed Ownership Model”). Sheather noted the large [...]