In the News 8th April 2016
Panama, Helen Clark, Vanuatu and Lydia Ko
PM John Key states, "I like Panama hats but I don't think they look good on me."
New Zealand is identified as a country that is friendly to and encouraging of foreign owned trusts. Laws surrounding these trusts are transparent and follow international legal guidelines, but operate on a 'don't ask, don't tell' philosophy.
For example, a British citizen can deposit any sum of money into a New Zealand bank account after setting up a trust in the country. This can be money that has or has not already been taxed where it was earned in Britain. New Zealand is under no obligation to notify Britain of the existence of this trust and bank account unless it is specifically asked for information from British official agencies.
John Key stated as early as 2005 that he envisioned New Zealand as the perfect off-shore banking location. Shipping from the country's remote location makes the development of manufacturing industries economically impractical. Because they don't rely on shipping, service based industries, including IT and banking, offer an opportunity to compete in the global market.
It is estimated that New Zealand earns in excess of $24 million in accountancy fees from foreign trusts. Questions are being asked if that addition to the NZ economy is enough to counteract the negative publicity of being labelled a tax haven.
Questions to ponder:
- Where is Panama? https://en.wikipedia.org/wiki/Panama
- How do trusts work? http://www.raymondkhouri.co.nz/resources/trusts
- What is the advantage to establishing a trust?
- Where did the phrase "don't ask, don't tell" originate?
- Why is manufacturing in NZ so challenging? http://www.business.govt.nz/support-and-advice/advice-mentoring/manufacturing-overseas
- Who have been some of the more well known people implicated in the Panama Papers? http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11616473
- Why should New Zealanders care about this issue?
Helen Clark Considered for the Role as United Nations Secretary General
Former NZ Prime Minister Helen Clark is a serious contender for the top position in the United Nations. This would be the first time a New Zealander and a woman was appointed to the job.
Since losing her bid for a fourth term as PM of New Zealand to John Key in 2008, Helen Clark has worked as the Administrator of the UN Development Programme. She is charged with overseeing millions of dollars in funding to connect developing nations with the expertise needed to advance economically, culturally and environmentally.
The current head of the UN is Ban Ki-moon from South Korea. Other contenders for the job are listed on the UN website, http://www.un.org/pga/70/sg/
New Zealand politicians from all parties have rallied around Clark's nomination. If chosen, her appointment will doubtless raise the profile of New Zealand internationally.
Questions to Ponder:
http://www.un.org/en/index.html
- What is the United Nations?
- Who benefits from its existence?
- What are its strengths and weaknesses?
- What changes could be made to make it more effective?
Lydia Ko and Jordan Spieth
Title:_________________________________________________________
Questions to Ponder:
- How old was the youngest golfer to reach World Number 1 ranking?
- What is the difference in age between the youngest and the oldest golfer to reach World Number 1 ranking?
Title:_________________________________________________________
- For each player, how much time elapsed between their ranking as World Number 1 and their winning of 12 LPGA/PGA tournaments?
- What advantage is there to ranking and winning at an earlier age?
Do Bad Things Come in Threes?
Questions to Ponder:
- What causes earthquakes? https://en.wikipedia.org/wiki/Earthquake
- What is the Richter Scale?
- Why is the depth of the earthquake considered an important piece of data?
- Why has the area bordering the Pacific Ocean been labelled the "Ring of Fire"?
- Where is the origin of the saying "Bad things come in threes"? http://www.phrases.org.uk/bulletin_board/32/messages/643.html
Where the Heck?
In the News
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