Beijing imposed new legislation on the former British colony earlier this month despite protests from Hong Kongers and Western nations, setting the financial hub on a more authoritarian track.Australia, Canada and the UK all suspended extradition treaties with Hong Kong earlier this month. US President Donald Trump has ended preferential economic treatment for Hong Kong.Peters said New Zealand will treat military and dual-use goods and technology exports to Hong Kong in the same way as it treats such exports to China as part of a review of its overall relationship with Hong Kong.Travel advice has been updated to alert New Zealanders to the risks presented by the new security law, he added.China is New Zealand’s largest trading partner, with annual two-way trade recently exceeding NZ$32 billion ($21 billion).New Zealand’s ties with China have frayed recently after the pacific nation backed Taiwan’s participation at the World Health Organization (WHO). Topics : New Zealand has suspended its extradition treaty with Hong Kong and made a number of other changes following China’s decision to pass a national security law for the territory, Foreign Affairs Minister Winston Peters said on Tuesday.”New Zealand can no longer trust that Hong Kong’s criminal justice system is sufficiently independent from China,” Peters said in a statement.”If China in future shows adherence to the ‘one country, two systems’ framework then we could reconsider this decision.”
The amendment, put forward by Lord Browne and Baronness Drake, both Labour peers, and Lord Turner, a cross-bencher and former chair of the Pensions Commission, compels ministers to lay regulations restricting charges before Parliament before the end of April 2015.This follows recent statements from the shadow government, which called on prime minister David Cameron to ensure the charge cap was implemented, to protect savers.The sudden ramp-up in pressure over charges in auto-enrolment schemes comes after the current pensions minister, Steve Webb, announced a postponement of the cap by one year.Originally, the government began consulting on capping charges in late 2013, with expected implementation of a cap – of between 75 and 100 basis points – by April 2014.However, the minister admitted the cap was too complex, and that enforcing it from April would be unfair to those currently going through auto-enrolment.In response to this, opposition party members berated the government, accusing it of bowing to lobbying by the insurance industry.Labour pensions spokesmen Gregg McClymont said the move was characteristic of the government, and questioned its commitment to implementing a cap in the future.Minister Steve Webb has consistently denied cancelling the cap altogether, and said one would be implemented by April 2015 at the latest.However, with political parties gearing up for a general election in May 2015, doubts remain over how much the Department for Work & Pensions can get through Parliament before it is dismissed.It is unclear whether the amendment will remain in the Bill before its ascent into law by the summer.The coalition government also control the second chamber, meaning the amendment could get voted down before its final publication.In addition to the political debate, analysis from the government showed current charges within DC schemes are higher than previous estimates, with some falling above proposed capped levels. Members of the UK opposition party have increased pressure on the government after it postponed the implementation of a cap on charges, by tabling amendments to pensions legislation passing through Parliament.The Pensions Bill, which is currently passing through the UK House of Lords, Parliament’s second chamber, is expected to become law by the summer.Within it lies the legislative perimeter allowing the government to impose a cap on charges for defined contribution (DC) auto-enrolment schemes.However, after the government backed down on imposing a cap by April 2014, the opposition party, which has long supported a cap on charges, tabled an amendment forcing action by ministers.
Go back to the e-newsletterNestled on the top floor of the InterContinental Sydney Double Bay, The Rooftop is this summer’s chicest bar destination, offering panoramic views of Double Bay and the harbour.The Rooftop will reopen for the summer season to both hotel guests and visitors from Saturday 1 October 2016.Open daily from midday until one hour past sunset, The Rooftop is a relaxed poolside bar by day and a stylish Mediterranean-inspired lounge in the early evening, offering guests a unique place to soak up the sun or enjoy a refreshing after-work aperitif. With its splitrock sandstone walls and lounges overlooking the pool, The Rooftop is the perfect place to chill out and enjoy the Sydney sunset while taking in the picture-perfect vistas of Double Bay.Visitors can unwind over a glass of champagne, or choose from one of Sydney’s best summer cocktail lists, featuring summer classics such as the Rooftop Mojito and the signature Bayside Martini. There is a summer bar menu with small plates such as citrus-marinated olives, oysters with champagne mignonette, a charcuterie plate and pulled pork sliders. And for those with a sweet tooth, there are treats such as strawberries with vanilla bean cream and a warm, salt caramel-filled doughnut.Guests will be seated on a first come, first served basis (reservations are not available). Children under 18 must be accompanied by an adult and the space may be closed at certain times due to inclement weather. There is no minimum spend for The Rooftop.Go back to the e-newsletter