Point of Order: Buzz from the Beehive - 29/5/27

Performer of a karakia in Parliament was not miffed by being muzzled – but Waititi demands reprimand

Six ministers have posted announcements on the government’s official website in the past 24 hours, two of them contributing to one media statement in the matter of the decision to support the Papua New Guinea response to the devastating landslide in Enga Province.

Three statements dealt with the passage of legislation, one dealing with immigration matters (the management of mass arrivals), another with the New Zealand Superannuation Fund’s investment opportunities, and the third to settle the Whakatōhea treaty claim.

Peter Williams: Cullen Fund doing well

But it could have been so much better

On the surface the New Zealand Superannuation Fund, the so called Cullen Fund, which is now 20 years old, has done pretty well. It’s this country’s sovereign wealth fund, a sort of slush fund to help pay the country’s bills in the next decade, particularly the old age pension.

It’s now worth 65 billion dollars. Since it started the government has put in just under 25 billion and with an annualized rate of return over 20 years of 9.76 percent it’s now up to what it is.