6. Briefly in our political economy

Willie Jackson listens as Bob Rolleston approaches, shouting, during a protest in front of Parliament. Photo by Lynn Grieveson

Here's the news in brief from New Zealand's political economy on Tuesday, including a confronting hikoi outside Parliament for Treaty Settlements Minister Andrew Little, Mercury (formerly Mighty River Power) losing its place in a key global stock index to A3 Milk, meat prices falling as mycoplasma bovis culling intensifies, MPI denying it might block all stock movements on Gypsy Day (June 1) to contain the disease, and movements in TVNZ's political reporting team.

Confronted - Treaty Minister Andrew Little and Employment Minister Willie Jackson were confronted by protestors on Parliament's lawn following a hikoi by Ngāi Te Rangi, Ngāti Ranginui and Ngāti Pūkenga from Tauranga yesterday over what they see as the Crown's failure to follow tikanga Māori processes. This was sparked by the Government signing a Deed of Settlement with Pare Hauraki, a collective of 12 Hauraki iwi. Ngāi Te Rangi kaumatua Bob Rolleston cried and shouted "this is bullsh*t" at Jackson, Little and Labour's Māori vice-president Tane Phillips.

Off index - Government-controlled electricity gentailer Mercury (formerly Mighty River Power) has been replaced in a key global MSCI index by A2 Milk Co . The index is used by passive fund managers to guide their purchases and Mercury's removal makes it slightly less attractive to global investors. See more on Pro here.

Oversupply - Meat prices have fallen more than five percent over the last month as cattle slaughter numbers have risen 20 percent, in part because of the cullings ordered by MPI to deal with mycoplasma bovis. "The attempted eradication of the m. bovis disease from NZ is disrupting the local market," AgriHQ analyst Reece Brick said in his monthly sheep and beef report. "More than 11,000 cattle (primarily dairy cows) have already been processed, but the number of farmers under quarantine is rising rapidly. Either a lot more cattle will need to be culled or attempts to eradicate the spread will be cancelled."

Running repairs - Revenue Minister Stuart Nash announced plans to close a loophole that had opened up for non-profit organisations that has allowed them to avoid paying GST on the sales of assets or insurance payouts.

Guard changing - Broadcasting Minister Clare Curran announced the appointment of Ruth Harley as a member and the new chair of the Broadcasting Commission (NZ On Air).

Gallery moves - RNZ Press Gallery reporter Benedict Collins and former Mediaworks gallery reporter Maiki Sherman have moved to TVNZ's Press Gallery office to join political editor Jessica Mutch. They replace Katie Bradford , who has moved to TVNZ in Auckland, and Andrea Vance , who moved back to Stuff to become a roving correspondent based in Wellington. Also, TVNZ's Q+A political panel show, which is now hosted by former TVNZ political editor Corin Dann, is moving from its 9 am slot on Sunday mornings on TV1 to 9.30 pm on Sunday nights on TV1 from July 29. It will have a higher ratings lead-in at 9.30 pm.