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Category: housing

  • MIL-OSI USA: Durbin Files Amendments To Republicans’ Budget Bill

    US Senate News:

    Source: United States Senator for Illinois Dick Durbin

    February 20, 2025

    WASHINGTON – Ahead of tonight’s vote-a-rama, where Senate Democrats will expose the truth about Republicans’ reconciliation budget bill, U.S. Senate Democratic Whip Dick Durbin (D-IL), Ranking Member of the Senate Judiciary Committee, filed amendments that reflect his priorities as Ranking Member of the Judiciary Committee.

    “Overnight, Senate Republicans will attempt to advance a budget resolution that clears the way to cut taxes for President Trump and Elon Musk’s billionaire friends. And who will be left holding the bag? American families. Democrats are going to hold the floor into the night to expose how Donald Trump and Republicans have eviscerated so many of our institutions for their billionaire buddies,” Durbin said. “While Donald Trump may preach about corruption, fraud, crime, and grocery prices, here’s the reality: he has rid the government of its independent watchdogs, threatened critical funding for survivors of violent crime, endangered America’s food supply chain with his threats of mass deportations, and continues to purge and reassign senior law enforcement officials at DOJ and FBI—making America less safe.”

    Durbin’s amendments include:

    • Establishes a deficit-neutral reserve fund related to protecting from arrest, detention, or removal noncitizen food and farm laborers who do not present a threat to public safety or national security, and whose removal would create an immediate labor shortage and increase prices of household groceries, such as milk, cheese, eggs, meat, and produce. U.S. Senator Michael Bennet (D-CO) is a cosponsor of this amendment.
    • Establishes a deficit-neutral reserve fund related to protecting from mass deportations noncitizens brought to the United States as children who are eligible for DACA. U.S. Senators Alex Padilla (D-CA) and Angus King (I-ME) are cosponsors of this amendment.
    • Establishes a deficit-neutral reserve fund related to protecting Department of Justice (DOJ) and Federal Bureau of Investigation (FBI) personnel who worked on January 6 investigations and prosecutions from being terminated or facing other forms of retribution for their work on these cases.
    • Establishes a deficit-neutral reserve fund related to protecting DOJ and FBI probationary personnel (staff with one to two years of experience or less) from mass layoffs.
    • Establishes a deficit-neutral reserve fund related to preventing DOJ and FBI personnel from being forced to participate in mass deportation efforts to the detriment of their work on child sexual abuse material (CSAM) investigations and prosecutions, responding to the fentanyl crisis, preventing violent crime, protecting national security, and responding to terrorism threats.
    • Establishes a deficit-neutral reserve fund related to ensuring that federal funds for victims of crime, support services for survivors, and victim compensation programs are not subject to further attempted funding freezes.
    • Establishes a deficit-neutral reserve fund related to protecting certain Violence Against Women Act programs that are tailored to communities, such as Native American and indigenous populations, from being cut due to DOJ’s broad anti-DEI efforts.
    • Establishes a deficit-neutral reserve fund related to preventing Elon Musk and the Department of Government Efficiency from accessing classified systems, personnel records, investigative records, and prosecutorial records at DOJ and its component agencies.

    -30-

    MIL OSI USA News –

    February 21, 2025
  • MIL-OSI United Nations: New children’s book promotes the value of all languages

    Source: United Nations 2

    What Makes Us Human is the work of Brazilian linguist and writer Victor Santos, with illustrations by Italian artist Anna Forlati.  

    The book uses the form of a riddle to introduce young readers to the concept of language while underscoring the need to preserve all languages globally.

    “I have existed for a long time, longer than toys, dogs, or anyone you know,” the book begins.

    “My roots date back several centuries. Some are even much older. I am everywhere, in every country, in every city, in every school, and in every home…”

    Linguistic diversity in danger

    UNESCO estimates that there some 8,324 spoken or signed languages, with around 7,000 still in use today. However, linguistic diversity is under threat as many languages are disappearing at an accelerating rate due to globalization and societal changes.

    To help safeguard this heritage, UNESCO is joining forces with publishing houses across the world to translate What Makes Us Human into as many languages as possible, with a special focus on indigenous languages.

    For example, it is now available in Mapuzugún, the native language of the Mapuche people in Chile.

    Courtesy of Nevenca Cayullán

    Nevenca Cayullán, a Mapuche educator, wearing traditional clothing and jewellery.

    Love for the mother tongue

    Nevenca Cayullán, a traditional Mapuche educator, translated the book into her mother tongue. She expressed her love for Mapuzugún in a recent interview with UN News.

    “My mother taught it to me, and that is why I carry it in my skin, in my heart, and in my head,” she said, speaking from Araucanía, the Mapuche heartland.

    “I make it present in all territories, wherever I am. Language is the engine that preserves culture, spirituality, the worldview of our indigenous people, respect, and the value of life.”

    For 25 years, the UN has celebrated International Mother Language Day on 21 February to highlight the importance of preserving linguistic diversity and promoting all mother languages, which in the simplest definition are those naturally acquired without being officially taught.

    ‘A living treasure’

    Ms. Cayullán believes everyone’s “mother tongue” is much more than that.

    “It is a living human treasure, which is why it must be carried, taught, and educated in the establishments where children are confined to monolingualism but have the capacity to learn the culture of indigenous peoples, the land – in this case, the Chilean territory and all territories,” she said.

    With this conviction, she enthusiastically joined the What Makes Us Human project when Planeta Sostenible, the publishing house co-editing the bilingual Mapuzugún-Spanish version of the book with UNESCO, proposed that she translate it.

    “Ultimately, it’s not just about the translation, but also the interpretation of the book. Being a translator and interpreter of the Mapuche language allows me to have the knowledge and capacity to understand such an important text as What Makes Us Human,” she said.

    “It was very relevant because the voice of my people, the voice of my ancestors, will reach others, other countries, other territories, that will learn about my culture. For me, it was incredibly important.”

    Editorial Planeta Sostenible and UNESCO

    Cover of the book What Makes Us Human in its bilingual Mapuzugún-Spanish edition

    Recovering ‘what was already there’

    Ms. Cayullán lives in Chile’s bustling capital, Santiago.  She said the book shows how to recognize the simple things in life.

    “It talks about the games or toys that children use and how we recover them, as well as the value of these games or toys, which are often forgotten. Before all this globalization, many things existed, and this also includes the knowledge of language, which was already there. 

    “However, over time, everything has been left behind. The book talks about how to recover what was already there, how to understand the knowledge provided by what existed before globalization.”

    She said this was especially true for indigenous languages, “especially the language of the Mapuche people.”

    Language makes us human

    When asked what makes us human, Ms. Cayullán highlighted the values of respect and appreciation of linguistic and territorial identity.

    “For us, this is a living treasure that must be passed down, generation after generation. Language is the means we have to communicate with each other and share our culture, which is why what this book says is so important, and it says it in Mapuzugún as well,” she responded.

    What Makes Us Human has been very well received in Chile, where it has initially been distributed in cities where children only speak Spanish.

    “I was at an event where many books were given out, and I obviously went with my Mapuche clothing,” Ms. Cayullán recalled.

    “The children thought that Mapuches no longer existed; they thought I came from, I don’t know, another planet. They received the books very happily, excited to see me and to have a book translated into Mapuzugún. It was a very emotional event.” 

    History of repression

    When the Spanish conquistadores arrived in what is now Chile in the 16th century, Mapuzugún was spoken from the Choapa River, which begins in the Andes mountains, to the island of Chiloé in the south.

    At that time, several groups shared this language. In the face of the Spanish presence, they came together and strengthened their bonds, eventually forming the Mapuche identity.

    The Mapuche are the largest indigenous community in Chile, numbering more than 1.4 million. They mostly live in the central part of the country, but there is also a small group in Neuquén province in Argentina. Most live in urban areas.

    Unfortunately, because of a history of repression, only 10 per cent of Mapuche speak Mapuzugún today, and only another 10 per cent understand it.  

    Carolina Jerez/UNESCO Santiago

    Mapuche children from the Tirúa Youth Orchestra at the launch of the “Mucho Chile” campaign in the capital, Santiago, in 2019.

    Defend and encourage

    When asked whether What Makes Us Human could help children reclaim pride in Mapuzugún, Ms. Cayullán’s response was clear.

    “Yes, of course,” she said.  “Yes, because it is a very easy-to-understand book. I believe that texts should be made with monolingual children in mind. I have faith that it will have an impact on society and the new generation.”

    She is adamant that defending her mother tongue, and encouraging its use, is a duty.

    “I have the responsibility to transmit knowledge. That is why I have this team of traditional educators where I promote speaking Mapuzugún in a city because we all live in Santiago.

    “But from here, we are working with the traditional educators who are currently in schools, teaching these monolingual students from different communes in the metropolitan region.”

    ‘My grandmother talks like you’

    Ms. Cayullán explained that efforts to revitalize her language are slowly beginning to bear fruit through support from the Chilean Ministry of Education which is helping to disseminate What Makes Us Human in schools.

    She noted that since 1992, schools located in Mapuche territories have been teaching Mapuzugún as part of their curriculum.

    “The child recovers their identity by seeing someone, perhaps in traditional clothing, perhaps wearing Mapuche jewelry. They will recover their identity. ‘Oh, my grandmother talks like you, or my grandmother dresses like you, or my aunt’… it’s so significant.” 

    Fear and discrimination

    The Mapuche educator acknowledges that, despite these advances, there is still a “red zone” in southern Chile where speaking Mapuzugún is forbidden.

    “It is forbidden to be indigenous; cultural gatherings are prohibited. And this happens like an everyday war in the red zone,” she said.

    “If one passes by the highway, one sees the Chilean state guard, where they violate the rights of the children but also of the indigenous communities. And those children won’t speak Mapuzugún but they won’t speak out of fear, not because they dislike it.”

    Sadly, Ms. Cayullán also noted some of the discriminatory incidents that indigenous people face because they are different.

    “I walk around Santiago in my traditional attire, and I have often been asked, ‘Do you come from the area where they burn trucks?’ This is a violation of people’s rights. If it’s done to a child who is just starting their life, obviously they won’t speak Mapuzugún and won’t recognize it either.” 

    Respect for diversity

    But What Makes Us Human promotes respect for diversity, which fills her with hope.

    “We should learn to respect all diversity because we live in a diverse world, and today we do not respect that diverse world,” she said.

    “And this diverse world is made up not only of human beings but also everything around us, everything that has life. In that diversity, languages are included.” 

    MIL OSI United Nations News –

    February 21, 2025
  • MIL-OSI: Madison Pacific Properties Inc. (TSX: MPC and MPC.C) announces results of Annual General Meeting

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, Feb. 20, 2025 (GLOBE NEWSWIRE) — Madison Pacific Properties Inc. (the Company), reports the voting results of the Annual General Meeting of its shareholders held February 20, 2025 in Vancouver, British Columbia.

    The following five nominees were re-elected as directors of the Company by the following votes:

    Nominee Votes For Percent Votes Against Percent
    Sam Grippo 4,566,711 98.01% 92,925 1.99%
    Michael W. Delesalle 4,566,711 98.01% 92,925 1.99%
    Mark E. Elliott 4,566,811 98.01% 92,825 1.99%
    Jonathan H. B. Rees 4,659,411 100.00% 225 –
    John DeLucchi 4,552,534 97.70% 107,102 2.30%
             

    Shareholders approved, for a further period of three years, all unallocated stock options issuable pursuant to the Company’s Stock Option Plan, by the following votes:

      Votes For Percent Votes Against Percent
      4,552,434 97.70% 107,202 2.30%
             

    In addition, PricewaterhouseCoopers LLP was re-appointed as the auditor for the Company.

    About the Company: Madison Pacific Properties Inc. is a Vancouver-based real estate company.

    Contact: Mr. John DeLucchi
    President & CEO
    Ms. Bernice Yip
    Chief Financial Officer
    Telephone: (604) 732-6540 (604) 732-6540
         
     Address: 389 West 6th Avenue
    Vancouver, B.C.
    V5Y 1L1
     

    The MIL Network –

    February 21, 2025
  • MIL-OSI New Zealand: Have fun, but stay safe at Electric Avenue this weekend

    Source: New Zealand Police (National News)

    Attributable to Detective Senior Sergeant Karen Simmons

    Police want everybody attending Electric Avenue to have a good time, but ensure they are safe too.

    There will be a Police and Security Team presence at the event to keep you safe. Please talk to us if you have any concerns about your own or someone else’s safety or wellbeing.

    Look after your mates. Make sure you have an agreed meeting point in case anyone gets lost, and a fully charged mobile phone.

    If you are drinking alcohol, eat before you attend the event and have a glass of water in between alcoholic drinks. Never leave your drink unattended and make sure to never take a drink you have not personally seen poured.

    Know Your Stuff will be at the event, however Police advice remains to avoid taking any drugs.

    Have a plan to get home safely after the event, and if you are observing anything where you or somebody else is in danger, call 111 immediately.

    ENDS

    Issued by Police Media Centre

    MIL OSI New Zealand News –

    February 21, 2025
  • MIL-Evening Report: Fiji’s diplomatic move to Jerusalem sparks controversy with Palestine

    RNZ Pacific

    Fijian Prime Minister Sitiveni Rabuka’s announcement this week that the island nation will open a diplomatic mission in Jerusalem has been labelled “an act of aggression” by Palestine.

    On Tuesday, the Fiji government revealed that Cabinet had decided to locate its consulate in Jerusalem, which remains at the centre of the Palestine-Israel decades-long conflict.

    According to an overwhelming United Nations General Assembly Resolution ES‑10/19 on 21 December 2017 (128-9), Israel’s claim to Jerusalem as capital of Israel is “null and void”.

    Previous UN Security Council resolutions demarcated Jerusalem as the capital of the future state of Palestine.

    The Fijian government said in a statement: “Necessary risk assessments will be undertaken by the Ministry of Foreign Affairs and the Ministry of Defence, in consultation with relevant agencies, prior to and during the establishment process.”

    Fiji and Israel established diplomatic relations in 1970 and have partnerships in security and peacekeeping, agriculture, and climate change.

    In a Facebook post on Wednesday, Rabuka said he “received a phone call from my friend Prime Minister Benjamin Netanyahu, expressing his gratitude for Fiji’s decision to open a diplomatic mission in Jerusalem.”

    “Even though very brief, we reaffirmed our commitment to strengthening Fiji-Israel ties,” he said.

    I commend the Republic of Fiji’s government for its historic decision to open an embassy in Jerusalem, the eternal capital of the Jewish people. Thank you, Prime Minister Sitiveni Rabuka @slrabuka, friend of Israel. Thank you Fiji! 🇮🇱🇫🇯 pic.twitter.com/IxCkjPnhQ6

    — Gideon Sa’ar | גדעון סער (@gidonsaar) February 18, 2025

    “I also took the opportunity to express my deepest condolences for the tragic events of October 7, 2023, when Hamas attacked innocent lives in Israel.

    Palestine’s Ministry of Foreign Affairs condemned Rabuka’s decision and is demanding the Fijian government “immediately reverse this provocative decision.”

    ‘Violating international law’
    “With this decision, Fiji becomes the seventh country to violate international law and UN resolutions regarding the city’s legal and political status and the rights of the Palestinian people,” it said in a statement.

    The seven countries include Papua New Guinea.

    The Palestinian Ministry of Foreign Affairs strongly condemns the decision of PM @slrabuka to relocate Fiji’s embassy to occupied #Jerusalem.

    This move blatantly violates international law and UN resolutions, and places #Fiji on the wrong side of history. https://t.co/5x1bCECNXO

    — Palestine Australia, Aotearoa NZ and Pacific (@PalestineAusNZ) February 19, 2025

    “This decision is an act of aggression against the Palestinian people and their rights.

    “It places Fiji on the wrong side of history, harms the chances of achieving peace based on the two-state solution, and represents unacceptable support for the occupation and its crimes.”

    The statement added that Fiji’s move “blatantly defies UN resolutions at a time when the occupying power is escalating its attacks against Palestinians across all of the Palestinian Territory, attempting to displace them from their homeland.”

    The ministry said that it would continue to take political, diplomatic, and legal action against countries that opened or moved their embassies to Jerusalem.

    “It will work to hold them accountable for their unjustified actions against the Palestinian people and their rights.”

    In September 2024, Fiji was one of seven Pacific Island nations that voted against a United Nations resolution to end Israel’s occupation of Palestine.

    This article is republished under a community partnership agreement with RNZ.

    MIL OSI Analysis – EveningReport.nz –

    February 21, 2025
  • MIL-OSI China: Zelensky says meeting with US envoy ‘productive’

    Source: China State Council Information Office

    Ukrainian President Volodymyr Zelensky said Thursday that he held a “productive meeting” with Keith Kellogg, the U.S. special envoy for Ukraine and Russia, in Kiev.

    “We had a detailed conversation about the battlefield situation, how to return our prisoners of war, and effective security guarantees,” he said on social media platform X, formerly known as Twitter.

    Zelensky thanked the United States for the assistance and bipartisan support for Ukraine and voiced readiness to sign “a strong, effective investment and security agreement” with U.S. President Donald Trump.

    “We have proposed the fastest and most constructive way to achieve results,” Zelensky emphasized.

    Kellogg, who arrived in Kiev on Wednesday, met with Zelensky earlier in the day.

    According to Ukrainian presidential spokesperson Serhii Nikiforov, a joint press conference between Zelensky and Kellogg did not take place at the request of the U.S. side.

    Also on Thursday, Kellogg met with Ukrainian Foreign Minister Andrii Sybiha to discuss ways toward “comprehensive, just and lasting peace” in Ukraine.

    After the meeting, Sybiha wrote on X that he affirmed Ukraine’s willingness to achieve peace through strength and briefed Kellogg on Kiev’s vision for the necessary steps.

    MIL OSI China News –

    February 21, 2025
  • MIL-OSI New Zealand: Energy – CCUS announcements move New Zealand toward a lower emission future

    Source: Energy Resources Aotearoa

    Energy Resources Aotearoa welcomes the Government’s announcement on a Carbon Capture, Utilisation, and Storage (CCUS) framework that will enable businesses to benefit from storing carbon underground.
    CCUS projects are an essential technology for meeting our emissions goals. The Intergovernmental Panel on Climate Change has previously stated that CCUS is “unavoidable” for countries aiming to achieve net emission reduction targets.
    Energy Resources Aotearoa Chief Executive John Carnegie says that CCUS has considerable potential for reducing our emissions as New Zealand’s energy mix evolves and is encouraged to see the Government aiming to eliminate unnecessary duplication and overlap of regulatory requirements.
    “A clear, risk-based framework is essential to give firms interested in potential CCUS projects confidence in predictable regulatory settings. Having a framework now opens the door to the possibility that projects will get off the drawing board”
    “Many jurisdictions we look to for effective policy examples have already implemented supportive regulatory frameworks to manage CCUS. While we’re still navigating the learning curve, this technology provides substantial emissions reduction and economic growth potential.”
    Carnegie says that moves to enable a CCUS framework go hand-in-hand with government aspirations to secure our future gas supply.
    “These two things can’t be seen in isolation – without a strong supply of gas, New Zealand won’t be able to maximise the benefits of this technology or achieve secure and abundant energy for households and businesses.”
    Carnegie says that while the framework provides clarity for investors, a standalone permitting regime to govern CCUS would give them confidence investing in these long-term projects.
    CCUS will play a vital role in our journey toward net-zero emissions, and Carnegie says Energy Resources Aotearoa is committed to collaborating with the Government to help it thrive.
    “The Government’s second emissions reduction plan clearly outlines CCUS as a vital action required to meet the second and third emissions budgets. We look forward to collaborating with them to cut through red tape, get projects underway and secure our affordable energy future.”

    MIL OSI New Zealand News –

    February 21, 2025
  • MIL-OSI Australia: Low and Mid-Rise policy to unlock 112,000 homes in five years

    Source: New South Wales Government 2

    Headline: Low and Mid-Rise policy to unlock 112,000 homes in five years

    Published: 21 February 2025

    Released by: The Premier, Minister for Planning and Public Spaces


    The Minns Labor Government’s Low and Mid-Rise policy is set to deliver 112,000 homes across New South Wales over the next five years as the next stage of the policy comes into effect.

    The new reforms change planning controls within 800 metres, or 10-minute walk, around 171 town centres and stations to allow dual-occupancies, terraces, townhouses and residential flat buildings across metropolitan Sydney, the Central Coast, Illawarra-Shoalhaven and Hunter regions.

    Without these changes, New South Wales risks becoming a city without a future because it’s simply too expensive to put a roof over your head.

    The Low and Mid-Rise housing policy will reintroduce housing choice and diversity back into our communities, filling the “missing middle” between high-rise apartments and greenfield development.

    Terraces, townhouses and residential flat buildings have a long history in NSW urban planning, but over recent decades have effectively been banned across local government areas.

    Currently, only two of 33 councils in Greater Sydney allow terraces and townhouses in low-density (R2) zones, and residential flat buildings are prohibited in 60 per cent of all medium-density (R3) zones.

    The NSW Government’s changes will remove the restriction on developing terraces, townhouses and low-rise residential flat buildings on R1 and R2 zoned land, while also removing the restriction on delivering medium rise residential flat buildings on R3 and R4 zoned land in these areas.

    These changes still allow councils to assess important development conditions including parking, light access and minimum frontages.

    Allowing these housing types to be permissible again will boost housing supply around transport and town centres, improve affordability, maintain the character of an area and build better communities.

    Sites were selected considering the following criteria:

    • Access to goods and services in the area
    • Public transport frequencies and travel times
    • Critical infrastructure capacity hazards and constraints
    • Local housing targets and rebalancing growth

    These planning reforms will further enable the rollout of the NSW Pattern Book, so those families, young people and downsizers who select these architecturally designed low and mid-rise designs will be able to build them in areas now zoned for low and mid-rise housing.

    The Low and Mid-Rise policy has been consulted on extensively, with the NSW Government publicly exhibiting the policy and carefully considering feedback from councils, town planners, architects, developers, Government agencies, and community groups.

    Due to the extent of bushfire and flood hazards, the Blue Mountains, Hawkesbury and Wollondilly Local Government Areas, have been excluded from stage 2 of the reforms.

    Similar to the Transport Oriented Development sites, the planning controls will apply in heritage conservation areas with council assessment and approval, however not on heritage items.

    This is part of the Minns Labor Government’s plan to build a better NSW with a greater choice of homes, so young people, families and workers have somewhere to live in the communities they choose.

    The policy will come into effect on 28 February 2025.

    For more information visit the Low and Mid-Rise Housing Policy webpage. 

    Premier of New South Wales said:

    “These types of homes have played a really important part in delivering homes over the last century but recently councils have effectively banned them, this reform changes that.

    “Housing is the single largest cost of living pressure people are facing and these changes will deliver more homes for young people, families and workers.

    “The homes built under these reforms will be close to transport, open spaces and services that people need, creating better connected and more liveable neighbourhoods by making the most of existing critical infrastructure.”

    Minister for Planning and Public Spaces Paul Scully said:

    “This policy fills a gap in new housing supply. Allowing low and mid-rise housing in more locations will help increase the number of homes in our state, improve affordability for renters and buyers and give people a choice on the type of home they want to live in.

    “Housing choice and diversity is at the heart of the Minns Government’s planning reforms – a choice of where they want to live, what kind of home they want to live in and when they want to make that move.

    “There has been increasing demand for well-located, medium-density housing. These reforms build on the reforms introduced on 1 July 2024, which allowed dual occupancies and semi-detached homes to be built on nearly all low-rise residentially zoned land in NSW.

    “This will unlock the huge potential of the NSW Pattern Book, with the new patterns being allowed in the areas where these planning controls apply. Those that use the Pattern Book will be able to build in these areas and gain access to a fast-tracked planning approval.”

    MIL OSI News –

    February 21, 2025
  • MIL-OSI United Kingdom: Early years reform to cut costs and deliver on Plan for Change

    Source: United Kingdom – Executive Government & Departments

    Parents to save cash through new guidance to prevent overcharging on childcare whilst £75 million will help deliver final phase of childcare rollout

    Parents are set to save money on childcare thanks to new protections from additional charges on top of the government’s funded childcare offer, increasing access to high-quality early education and putting cash back into working families’ pockets. 

    To ensure no family is priced out of the support they need, the government has published updated guidance today that puts transparency at the heart of how the funded hours should be delivered, supporting local authorities to ensure providers make all additional charges – whether for nappies, wipes or lunch – clear and upfront to parents, and setting out that these charges must not be included as a condition for parents accessing their hours.  

    Giving every child the best start in life is central to the government’s mission to break the unfair link between background and success, and its Plan for Change to get tens of thousands more children a year school-ready by aged five.   

    As part of this, the government is committed to delivering on the promises made to working parents, so they can save up to £7,500 on average from using the full 30 hours a week of government funded childcare support, compared to paying for it themselves. 

    Education Secretary Bridget Phillipson said: 

    Giving every child the best start in life is my top priority, and integral to our mission to ensure tens of thousands more children are school ready every year.  

    That’s why despite the inherited challenges we face, we are pressing ahead with the investment and leadership needed to support families and make sure that every child, regardless of background, can access the high-quality early education they deserve. 

    Today marks an important step towards an early years system that is accessible for parents, sustainable for providers, and better serves children’s development.

    This comes as the government has announced a targeted approach to its next tranche of early years funding to support the sector to deliver the new places needed for parents of children from nine months old looking to take up the entitlements for the first time. 

    Despite having to take tough decisions to fix the foundations of the economy, the government is increasing investment in early years to over £8 billion next year. 

    This includes a dedicated £75 million expansion grant, which will be targeted to providers supporting delivery of the expanded 30 hours of government-funded childcare in September, helping parents with children from nine months back into work and boosting household finances. 

    This means that private and voluntary providers, including childminders, are expected to see significant impact from a share of an average of around £500,000 in local areas. Funding allocations will vary between local authorities, reflecting local circumstances, with some of the largest areas seeing up to £2.1 million. 

    £75m is equivalent, on average, to an additional £80 per two-year old, and £110 per child under-two, though final amounts of funding reaching providers will depend on local circumstances. 

    The government also continues to make quick progress towards its Plan for Change milestone, with thousands of early years educators continuing to benefit from support networks and early maths training this year. 

    The Stronger Practice Hubs programme, which supports early years settings to deliver high-quality education by sharing knowledge and evidence-based approaches via 18 regional Hubs, has been funded for a further year.   

    On top of this, as part of wider work to deliver on the government’s commitment to boost early maths support for children, the Maths Champions programme delivery also launches this month – with up to 800 early years settings to benefit from the training this year.  

    Delivered in partnership with the National Day Nurseries Association and Education Endowment Foundation, an evaluation of the programme showed children in settings receiving the Maths Champions programme can make an average of three months’ additional progress in maths compared to their peers.  

    Educators in this year’s first cohort of 156 settings will take up the training this month, with spaces still available for sign-ups from March to June. 

    These programmes form part of wider vital work to drive high and rising standards across early education, offering improved early learning support and the training that educators need to prepare children for school.  

    The government will continue to work closely with parents and providers to deliver its ambitious reforms so that tens of thousands more children have the invaluable skills needed from communication and maths to personal, physical and social development to have the best possible life chances.  

    Lydia Hodges, head of Coram Family and Childcare, said:  

    We welcome the clarification in this update, which is something we have been calling for to address the high level of variation in childcare costs to parents. Our research shows that additional charges can be a major barrier to families – particularly disadvantaged families – taking up their funded early education entitlements.  

    Supporting childcare providers through these changes will be essential, to ensure the sector remains stable, but this updated guidance is an important step towards a transparent system that allows parents to make informed choices about their childcare options and enables all children to access their entitlements, particularly those who stand to benefit the most from high quality early education.

    Emily Yeomans, Co-CEO of The Education Endowment Foundation, said: 

    Our independent evaluations of the Maths Champions programme have consistently shown its potential in establishing solid foundations in maths for young children. Crucially, this potential is even greater for children from socio-economically disadvantaged backgrounds. 

    A strong grounding in early maths is so important for setting up children for later success, acting as a fundamental enabler of later opportunity. So I’m delighted that we’re able to offer hundreds of early years settings access to the programme this year so that many more children can benefit.

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    Published 21 February 2025

    MIL OSI United Kingdom –

    February 21, 2025
  • MIL-OSI New Zealand: Speech to Committee for Auckland

    Source: New Zealand Government

    Good afternoon. Can I acknowledge Ngāti Whātua for their warm welcome, Simpson Grierson for hosting us here today, and of course the Committee for Auckland for putting on today’s event.
    I suspect some of you are sitting there wondering what a boy from the Hutt would know about Auckland, our largest city.
    Well, let me reassure you that I know and love this city. I lived here for two years, many of my friends live here, and I am here almost every week.
    Auckland is critical to New Zealand’s future and today I want to talk about how we create that future, with central government working alongside the Auckland Council and Auckland communities.
    Growth 
    Let me start with the economic picture.
    We are in challenging economic times. The government came to office with New Zealand in the midst of a prolonged cost of living crisis, with high inflation, high interest rates, and after years of profligate debt-fuelled government spending.
    Turning that around is not going to be easy and it is not going to happen immediately.
    We have made good progress. Budget 2024 started the repair job. Business and consumer confidence is returning. The OCR was cut by another 50 basis points on Wednesday, meaning mortgage rate relief for households. The latest Federated Farmers Farm Confidence Survey shows confidence surging by 68 points since July 2024 – the largest one-off improvement in sentiment since the question was introduced.
    But there is a lot to do, and we need to be honest with ourselves. We have been slipping for years. 
    Our challenge as a country isn’t just about the last few years, or even the last decade.
    We have low productivity growth, low capital intensity in our firms, low levels of competition in many sectors, challenges in attracting and retaining skills and talent, low uptake of innovation, unaffordable housing and a growing tail of New Zealanders leaving school without basic skills. 
    But stagnation and mediocrity is not our destiny.
    Not if we make the right choices and not if we have courage.
    Going for economic growth means saying “yes” to things when we’ve said “no” in the past.
    It means taking on some tough political debates that we’ve previously shied away from. I’m going to talk about one today.
    It means bold decisions which may look difficult at the time but which in hindsight will be regarded incontrovertibly as the right thing to do.
    Managed decline is only inevitable if we let it be.
    Auckland Growth 
    So today I want to talk to you about Auckland and how important it is to our plans.
    Auckland is New Zealand’s capital city of growth. It is home to one third of New Zealand’s population and contributes nearly 40% to our national GDP. It has higher labour productivity than the rest of New Zealand, and is home to some of New Zealand’s most exciting growth-industries, with 116 of our country’s top 200 tech firms calling Auckland home. 
    We are not going to be successful in growing our economy if we don’t think carefully about how we enable Auckland, as our largest and most important city, to thrive. 
    I have the enormous privilege of being the Minister of Housing, Infrastructure, RMA Reform and now Transport.
    I am determined to help build an Auckland that is a world-class, international city.
    I make no apologies for being an urbanist. Well-functioning urban environments with abundant housing, transport that gets people where they need to go quickly and efficiently, and functional infrastructure, will do more to create a brighter future for Kiwis than just about anything else government can do. 
    Next year is shaping up as an exciting one. The first trains will run on the City Rail Link and the NZ International Convention Centre will finally open its doors.
    The government is investing heavily into transport in Auckland, through new Roads of National Significance, new busways, and commuter rail.
    These investments build on the significant progress made in recent years, particularly by National-led governments – think of Waterview, the Victoria Park Tunnel, and the starting of the City Rail Link.
    A couple of weeks ago it was my pleasure to mark the start of the extension of the Auckland commuter network to Pukekohe, with the completion of the electrification of the line from Papakura to Pukekohe.
    Later this year the Third Main line rail project will conclude, helping ease congestion and enabling faster train journeys. 
    The growth of the Auckland commuter rail network since the early 2000s has been remarkable and the government is keen to encourage that growth.
    Because the reality is that congestion is choking Auckland.
    The average Auckland commuter spends over 5 days in traffic each year. In fact, in 2024 the Auckland metro area had the highest congestion levels in Oceania. This means Auckland is less productive, less accessible, and less liveable that it should be. 
    Congestion stifles economic growth in Auckland, with studies showing that it costs between $900 million to $1.3 billion per year.
    Congestion is essentially a tax on time, productivity, and growth. And like most taxes, I’m keen to reduce it.
    The government will be progressing legislation this year to allow the introduction of Time of Use pricing on our roads.
    We will send that Bill off to a select committee before the end of March and the public will be able to have their say on it.
    There has been study after study into time of use pricing in New Zealand. It’s time to get on with it.
    The framework we have agreed to will enable local councils to propose time of use schemes on their networks.
    All schemes will be focused on increasing productivity and improving the efficiency of traffic flow in cities. Local councils will propose schemes in their region, with NZTA leading the design of the schemes in partnership with councils to provide strong oversight and to ensure motorists benefit from these schemes. 
    All schemes will require approval from the Government.
    Any money collected through time of use charging will be required to be invested back into transport infrastructure that benefits Kiwis and businesses living and working in the region where the money was raised. Councils will not be able to spend this money on other priorities.
    The Government will prioritise working with Auckland Council on designing a Time of Use pricing scheme that increases productivity and reduces congestion.
    Modelling has shown that successful congestion charging could reduce congestion by up to 8 to 12 percent at peak times, improving travel times and efficiency significantly.
    Auckland Housing 
    That brings me to housing. 
    One of the things I’ve been trying to emphasise since I became a Minister is that housing has a critical role to play in addressing our economic woes.
    There is now a mountain of economic evidence that cities are unparalleled engines of productivity, and the evidence shows bigger is better.
    New Zealand can raise our productivity simply by allowing our towns and cities to grow up and out. We need bigger cities and, to facilitate that, we need more houses. As our biggest city, Auckland has to be a leader in this mission.
    As Housing Minister I am focused on getting the fundamentals of the housing market sorted. 
    The Government’s Going for Housing Growth agenda involves freeing up land for development and removing unnecessary planning barriers, improving infrastructure funding and financing, and providing incentives for communities and councils to support growth.
    Report after report and inquiry after inquiry has found that our planning system, particularly restrictions on the supply of urban land, are at the heart of our housing affordability challenge.
    We are not a small country by land mass, but our planning system has made it difficult for our cities to grow. As a result, we have excessively high land prices driven by market expectations of an ongoing shortage of developable urban land to meet demand. 
    Last year Cabinet agreed to a number of specific actions it would take to free up land for development, which we’ve called Pillar One of our Going for Housing Growth Plan.
    These include new housing growth targets for the country’s largest councils, new rules to make it easier for cities to expand outwards at the urban fringe, such as the abolishment of the rural-urban boundary in Auckland, a strengthening of the intensification provisions in the National Policy Statement on Urban Development including requiring more mixed-use zoning, the abolishment of minimum floor areas and balcony requirements, and making the MDRS optional for councils. 
    These changes build on the existing Auckland Unitary Plan, which evidence shows has made a real difference in Auckland. 
    It also builds on the National Policy Statement on Urban Development brought in by the last government, which we support.
    I am focusing on the fundamentals because ultimately that is what drives price.
    Very soon I will announce Cabinet decisions around better infrastructure funding and financing tools, so growth can be properly funded.
    And I’ll also soon announce decisions on how we will replace the Resource Management Act, the giant millstone on the neck of the New Zealand economy. 
    City Rail Link 
    Speaking of infrastructure, let’s talk about the City Rail Link.
    Without a doubt, the most transformative and ambitious project in recent memory in Auckland is the City Rail Link. 
    Under the feet of Auckland for the better part of a decade has been the most ambitious, and one of the most expensive, projects in the city’s history. Thousands of workers building 3.5 kms of tunnel to bring Auckland’s transportation system into the 21st century.
    When I was made Transport Minister by the Prime Minister earlier this year, I said to my team that I wanted my first visit to be to see City Rail Link. To me, this project epitomises the opportunities in New Zealand’s transport future.    
    Once open next year, CRL will double Auckland’s rail capacity and reduce congestion across the city, enabling Aucklanders to get to where they want to go faster.
    This will be huge for the city. The privilege of not having to worry about missing a train because another one is only minutes away is something, up until now, Aucklanders have only been able to experience in cities like London or Tokyo. But now it’s almost Auckland’s turn.
    I’ve been down to the new stations. Aucklanders are going to be blown away. My prediction is that people will say what they always do once a big new project eventually finishes: why didn’t we do this decades ago?
    It is critical for the city’s future that we take advantage of CRL and ensure that the maximum benefits are felt by Aucklanders. That’s why today I am pleased to announce a number of steps the Government is taking to fully harness the true benefits of City Rail Link.
    Level Crossings
    The first step is removing level crossings. 
    CRL will only achieve its true potential capacity by the removal of level crossings – locations where roads and rail tracks intersect.
    Frankly, every motorist under the sun hates them, me included. They require the direct trading-off between road-user efficiency and rail-user efficiency. 
    Separating our train and roading systems by grade-separating level crossings greatly reduces traffic delays for motorists, while at the same time enables more frequent and reliable trains. It means that, in future, we can run many more trains on the Auckland network, without having to worry about disrupting the road network.
    Crucially, it will also make our railways safer. In the decade between 2013 and 2023, Auckland saw almost 70 crashes – some of these serious, as well as more than 250 pedestrian near-misses and 100 vehicle near misses at level crossings across the city. That’s almost one incident a week. 
    Investment in Auckland’s level crossings delivers a faster, safer, and more reliable transport system. It’s a win, win, win.
    Sorting level crossings in Auckland will take many years and cost a lot – but it is imperative we crack on with the job of doing the most important ones first.
    I am announcing today that, subject to final approval by the NZTA board, the Government will be allocating funding for its share of the cost of accelerating the grade-separation of 7 level crossings in Takāanini and Glen Innes. 
    The work will involve building three new grade-separated road bridges at Manuia Road, Taka Street, and Walters Road; constructing new station access bridges at Glen Innes, Te Mahia and Takāanini Stations, and closing two unsafe crossings at Spartan Road and Manuroa Road.
    Auckland Council has previously indicated that it is willing to fund its share of the cost, so this announcement will provide Aucklanders with confidence that the work will go ahead.
    Removing these level crossings now also enables us to take advantage of already planned network closures and will hopefully avoid the need for disruptions to the rail network in the future to make these much-needed changes.
    We are committed to the most efficient transport system in Auckland for everyone – no matter how you get around. For us, it’s never only about trains, or only about cars, or only about buses, or only about bikes. It must be all of the above – which is exactly why we are prioritising the removal of these level crossings 
    Transit oriented development
    As I’ve said, there are a number of actions being taken across the Auckland Rail network with a focus on transforming connectivity throughout the city. City Rail Link is just one part of it.
    This ambitious programme of work will open up job opportunities, new investment opportunities, and new places to live and work.
    It should also, in theory, result in a significant increase in development density in and around Auckland’s railway stations, especially those benefiting from City Rail Link.
    We have to ask ourselves: are we doing all we can to fully take advantage of this multi-billion-dollar transport investment? 
    I believe that in order to properly unlock economic growth in Auckland, we must embrace the concept of transit-oriented development adopted by the world’s best and most liveable cities.
    This approach promotes compact, mixed-use, pedestrian friendly cities, with development clustered around, and integrated with, mass transit. The idea is to have as many jobs, houses, services and amenities as possible around public transport stations. 
    This is not an untested theory: transit-oriented development has been adopted across the world in cities like Stockholm, Copenhagen, Hong Kong, Tokyo, and Singapore.
    Cities that embrace this approach consistently outperform those that don’t across multiple metrics: they experience increases in productivity, lower unemployment, higher population growth, increased availability of homes, and more stable rents.
    A floor filled with smart people working next to each other, in a building filled with floors of smart people working next to each other, unsurprisingly, enables greater economic opportunities for productive growth. Proximity encourages collaboration and innovation.
    Transit-oriented development creates exactly these kinds of possible agglomeration effects – for example, it has been shown that doubling job density increases productivity by 5 – 10%. 
    The evidence speaks for itself. 
    Let’s look at Stockholm, where development has generally followed the city’s main public transport corridors. There, the gross value added per capita grew 41% between 1993 and 2010. In fact, both Stockholm and Copenhagen rank as among the world’s top cities in terms of per capita GDP.  
    Across the ditch in Sydney, they have just opened their brand-new Sydney Metro development, which has been widely recognised for its successful integration of high-density housing and mixed-use developments. This project is expected to contribute around AUD $5 billion annually to the New South Wales economy.
    To answer the question: are we doing all we can to fully take advantage of City Rail Link? The answer is clearly no.
    So, today I am announcing that the Government will be kicking off a work programme to properly take advantage of the opportunities that transit-oriented development could have on Auckland, and what actions we can take in the short-term to better enable development clusters around City Rail Link stations.
    Right now, Auckland Council is only required to zone 6 stories around rapid transit stops. We are going to need to go much, much higher than that around the CRL stations if we truly want to feel the benefits of transit-oriented development.  
    My aspiration is that in 10-20 years’ time, we have 10-20 storey apartment blocks dotting the rail line as far west as Swanson and Ranui. But for right now, we need to look at how to increase development opportunities around the inner core of stations.
    Take Kingsland, for example.
    Once CRL open Kingslanders will have a 20 minute travel time saving to Aotea station from the project. But Kingsland’s population actually declined by 4.7% between 2019 and 2023; and while Auckland averaged 15,375 annual new builds over the last 5 years, Kingsland built just 22.
    Compare that to Paramatta in Sydney. It too benefits by circa 20 minute time savings from the Sydney Metro project and has upzoned from a few stories to more than 60 in some cases.
    Kingsland is still predominantly made up of single story dwelling zones.
    How about if our aim is to make the special character of suburbs be that they are thriving, liveable, affordable communities with access to regular and reliable public transport?
    For many families, the dream of home ownership looks a little different today. Many young families are now choosing to swap the station wagon for the train station, and the corner dairy for the cafe.
    There will always be a place in New Zealand for the quarter-acre section and the large family home. But we have to be honest with ourselves: that place isn’t within a stones-throw of a transformational piece of transport infrastructure with the ability to shuttle tens of thousands of passengers each day. 
    We must allow Kiwis to make the choice that’s best for them. Permitting more development close to train stations and rapid bus routes supports those who want to live nearer to their work and their friends, just like the significant investment the Government is making in new highways and roads support those who want to live in our world-class towns and suburbs. 
    Change is inevitable. My job as a Minister it to make sure that change is shaped by the lives Kiwis want to live and the homes they want to live in.
    Viewshafts 
    One barrier to proper high-density in Auckland, including around City Rail Link stations, is undoubtedly the current settings of the 73 viewshafts that have restricted the height of the city since the early 1970s. 
    In 2016, the Independent Hearing Panel for the Auckland Unitary Plan recommended further work on the viewshafts, including refining them to improve their efficiency and reduce opportunity costs. In the almost-decade since, this work has not been progressed.
    Some of these viewshafts don’t make a lot of sense. The Unitary Plan protects the view from the tolling booths on the North Shore, so that those people sitting in their cars getting ready to pay their toll for the Harbour Bridge have a nice view of Mt Eden. Of course there hasn’t been tolling booths on the North Shore since the mid-1980s. 
    Forty years later, we are still protecting a view that would be considered dangerous-driving to admire. A study done in 2018, looking at this one view shaft – the E10 – showed that its cost was roughly $1.4 billion in lost development opportunities. This is just the impact of one of the 73 viewshafts. 
    It is worth stressing that the cost is almost certainly much greater than $1.4 billion. It only includes costs to the city centre, and about half the land under E10 falls outside the city centre. So add that on.
    It doesn’t look at the positive externalities of intensification, such as agglomeration and other wider economic benefits. So add that on too.
    It doesn’t look at public land, just private. Add that on. 
    And it’s based on 2014 land values.
    And this is just one viewshaft.
    I hope you’ll agree with me that the cost is immense.
    Aucklanders and local mana whenua have always had a special relationship with the Māunga and Volcanic cones that their city is nestled between. It is right that we acknowledge and protect this special relationship. 
    But even just minor tweaks to existing viewshafts could materially lift development opportunities. The 2018 study showed that rotating the E10 viewshaft just 4.5 degrees to the left maintains the view of Mt Eden for a similar amount of time, whilst saving the city 43% of the lost development opportunity cost.
    Today I can tell you that Mayor Brown and I have had discussions on this issue, and he said he is open to a fresh look at Auckland’s viewshaft settings in its Unitary Plan. We agree that the time is right to start the conversation. This is particularly relevant where the viewshafts impact the CBD and major transit corridors.
    We are committed to trying to find a way though – alongside mana whenua – to get the balance right between economic growth, and the special role these Māunga play in the unique identity of Auckland. 
    We are not proposing to remove these viewshafts. Rather, we are recognising that as the city changes, and there will be areas where the viewshafts should change with it.
    The tollgate viewshaft example above proves that it is possible to eat our cake and have it too. We can both preserve views and enable more development. That is the kind of change that a dynamic city requires to be the best for all its people.
    Conclusion
    Auckland has a bright future. 
    You have the country’s premier convention centre opening early next year. 
    You have City Rail Link opening later next year. 
    You have what are essentially new cities being built to your west, and to your south.
    New roads are opening.
    Congestion pricing is on the way.
    And more housing is being built. 
    Whenever I come here, I get a palpable sense of opportunity knocking.
    This city isn’t waiting: it’s getting on with the mission of growth. 
    It is bursting at the seams with opportunities – now, it is the responsibility of all of us to help make it happen. 
    Thank you.

    MIL OSI New Zealand News –

    February 21, 2025
  • MIL-OSI Economics: IMF Executive Board Concludes 2024 Article IV Consultation with Thailand

    Source: International Monetary Fund

    February 20, 2025

    Washington, DC: On February 11, The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation[1] with Thailand and endorsed the staff appraisal without a meeting on a lapse-of-time basis.

    Thailand’s economy is gradually recovering, but at a slower pace than peers. Economic activity expanded modestly by 1.9 percent in 2023 and 2.3 percent in the first three quarters of 2024, driven by private consumption growth and a rebound in tourism. Inflation remained subdued, averaging 0.4 percent (y/y) annually in 2024, well below the Bank of Thailand’s target range of 1 to 3 percent. External factors such as the decline in global energy and food prices, lower import prices have played a role, but domestic factors such as energy subsidies, price controls, and the unwinding of pandemic-related fiscal support have also contributed to the lower inflation. The current account balance strengthened to 1.4 percent of GDP in 2023, from -3.5 percent of GDP in 2022, and continues to register a moderate surplus as of November 2024, supported by the continued recovery in tourism and higher exports.

    A gradual cyclical recovery is expected to continue. Real GDP is projected to grow by 2.7 percent in 2024 and to increase to 2.9 percent in 2025. This is underpinned by the expansionary fiscal stance envisaged under the 2025 budget, which includes additional cash transfers of 1.0 percent of GDP and a rebound in public investment. Tourism-related sectors are expected to continue to support growth, as well as private consumption that will be further boosted by the authorities’ cash transfers. As growth continues to firm up, inflation is expected to pick up but remain in the bottom half of the target range in 2025. The current account balance is expected to improve further in 2024 and 2025, driven by the ongoing recovery in tourist arrivals.

    Risks to Thailand’s economic outlook are tilted to the downside. On the external front, an escalation of global trade tensions or deepening geoeconomic fragmentation could disrupt Thailand’s export recovery and dampen FDI inflows, while increased commodity price volatility could affect growth and lead to inflation spikes, and potentially tighter-for-longer global financial conditions. The intensification of regional conflicts could disrupt trade and travel flows while more frequent extreme climate events would adversely impact growth prospects. On the domestic front, the private sector debt overhang could impair financial institutions’ balance sheets and further decrease credit supply, negatively affecting growth. Renewed political uncertainty could hinder policy implementation and undermine confidence.

    Executive Board Assessment[2]

    In concluding the 2024 Article IV consultation with Thailand, Executive Directors endorsed the staff’s appraisal, as follows:

    Thailand’s economic recovery is ongoing, but it has been relatively slow and uneven. Economic activity expanded modestly in 2024, driven by private consumption and a rebound in tourism-related activities, while delayed budget implementation slowed the pace of public investment. The slow recovery, compared to ASEAN peers, is also rooted in Thailand’s longstanding structural weaknesses, while emerging external and domestic headwinds have also contributed to subdued inflation. The outlook remains highly uncertain with significant downside risks.

    As economic slack narrows, the focus should shift to rebuilding fiscal space. A less expansionary fiscal stance than envisaged under the FY25 budget would still provide impulse to support the recovery while helping to preserve policy space. Alternatively, reallocating part of the planned cash transfers toward productivity-enhancing investments or social protection would enable stronger inclusive growth and help reduce the public debt-to-GDP ratio. Starting in FY26, a revenue-based medium-term fiscal consolidation is needed to bring down public debt and rebuild buffers.

    Thailand’s fiscal framework can be further strengthened. This would require strengthening fiscal rules to better support the debt anchor by introducing a risk-based rules approach. Costs associated with quasi-fiscal operations such as energy price caps should be adequately accounted for, and fiscal risks closely monitored. Improving data provision for government finance statistics and SOEs is important.

    Staff welcomes the BOT’s decision to cut the policy rate in October and recommends a further reduction in the policy rate to support inflation and also translate into improvements in borrowers’ debt-servicing capacity with limited risk of additional leverage amid tight lending. Given remaining high uncertainty in the outlook, the authorities should stand ready to adjust their monetary policy stance in a data and outlook-dependent manner. Central bank independence with clear communication of policy moves is key to maintaining the credibility and effectiveness of monetary policy in anchoring inflation expectations.

    Effective coordination across policy tools, underpinned by adequate buffers, is essential for managing adverse scenarios. While the flexible exchange rate should continue to act as a shock absorber, the complementary use of FXI might alleviate policy trade-offs by smoothing destabilizing premia when large non-fundamental shocks render the FX market dysfunctional. Further liberalization of the FX ecosystem and phasing out of remaining capital flow management measures would help deepen the FX market and limit the need for FXI over time.

    A comprehensive package of prudential and legal measures needs to be deployed to facilitate an orderly private deleveraging. Staff welcomes the measures already implemented to address both the existing household debt stock and the buildup of new leverage. However, simultaneous and forceful implementation of personal debt workouts via more effective bankruptcy proceedings is essential to lower the existing household debt stock.

    The external position in 2024 was moderately stronger than warranted by fundamentals and desirable policy settings. Policies aimed at promoting investment, enhancing social safety nets, liberalizing the services sector, and minimizing tax incentives and subsidies that distort competition would facilitate external rebalancing.

    Resolute structural reforms are needed to boost productivity and competitiveness. Reform priorities include facilitating competition and openness, upgrading physical and ICT infrastructure, upskilling/reskilling the labor force, increasing export sophistication by leveraging digitalization, and strengthening governance. Providing an adequate social protection floor to vulnerable households could help enhance their resilience to shocks and address structural drivers of household debt accumulation.

    Table 1. Thailand: Selected Economic Indicators, 2019–30

    Per capita GDP (2023): US$7,338

    Exchange Rate (2023): 34.8 Baht/USD

    Unemployment rate (2023): 1 percent

    Poverty headcount ratio at national poverty line (2021): 6.3 percent

    Net FDI (2023): US$ -7.16 billion

    Population (2023): 70.18 million

                       

    Actual

    Projections

    2019

    2020

    2021

    2022

    2023

    2024

    2025

    2026

    2027

    2028

    2029

    2030

    Real GDP growth (y/y percent change) 1/

    2.1

    -6.1

    1.6

    2.5

    1.9

    2.7

    2.9

    2.6

    2.7

    2.7

    2.7

    2.7

    Consumption

    3.4

    -0.3

    1.3

    4.8

    4.6

    4.3

    4.0

    2.9

    2.1

    2.3

    2.6

    2.6

    Gross fixed investment

    2.0

    -4.8

    3.1

    2.3

    1.2

    0.1

    4.1

    2.1

    1.8

    2.3

    2.4

    2.5

    Inflation (y/y percent change)

                           

    Headline CPI (end of period)

    0.9

    -0.3

    2.2

    5.9

    -0.8

    1.2

    1.3

    1.5

    1.5

    1.7

    1.7

    1.8

    Headline CPI (period average)

    0.7

    -0.8

    1.2

    6.1

    1.2

    0.4

    1.0

    1.3

    1.5

    1.6

    1.7

    1.8

    Core CPI (end of period)

    0.5

    0.2

    0.3

    3.2

    0.6

    0.8

    1.3

    1.0

    1.2

    1.4

    1.4

    1.6

    Core CPI (period average)

    0.5

    0.3

    0.2

    2.5

    1.3

    0.6

    1.1

    1.2

    1.1

    1.3

    1.4

    1.5

    Saving and investment (percent of GDP)

                           

    Gross domestic investment

    23.8

    23.8

    28.6

    27.8

    22.5

    20.8

    21.9

    22.2

    22.0

    21.8

    21.8

    21.6

    Private

    16.9

    16.8

    16.9

    17.3

    17.3

    16.7

    16.6

    16.4

    16.3

    16.1

    16.1

    16.0

    Public

    5.7

    6.4

    6.5

    6.1

    5.6

    5.6

    5.9

    5.8

    5.7

    5.7

    5.7

    5.7

    Change in stocks

    1.2

    0.5

    5.1

    4.5

    -0.4

    -1.5

    -0.6

    0.0

    0.0

    0.0

    0.0

    0.0

    Gross national saving

    30.8

    27.9

    26.5

    24.4

    24.0

    22.6

    24.0

    24.5

    24.4

    24.4

    24.5

    24.4

    Private, including statistical discrepancy

    25.8

    26.2

    26.8

    22.6

    21.0

    19.8

    21.8

    21.9

    21.7

    21.7

    21.8

    21.6

    Public

    5.0

    1.8

    -0.3

    1.7

    3.0

    2.8

    2.2

    2.5

    2.7

    2.7

    2.7

    2.8

    Foreign saving

    -7.0

    -4.2

    2.1

    3.5

    -1.4

    -1.8

    -2.2

    -2.3

    -2.4

    -2.6

    -2.7

    -2.8

    Fiscal accounts (percent of GDP) 2/

                           

    General government balance 3/

    0.4

    -4.5

    -6.7

    -4.5

    -2.0

    -2.2

    -3.6

    -3.2

    -2.9

    -2.8

    -2.8

    -2.8

      SOEs balance

    0.4

    0.6

    -0.3

    -0.6

    -0.7

    -0.1

    -0.2

    -0.1

    -0.1

    -0.1

    -0.1

    0.0

    Public sector balance 4/

    0.8

    -3.9

    -7.1

    -5.1

    -2.7

    -2.3

    -3.8

    -3.3

    -3.0

    -2.9

    -2.9

    -2.8

    Public sector debt (end of period) 4/

    41.1

    49.4

    58.3

    60.5

    62.4

    63.3

    64.7

    65.4

    66.0

    66.1

    66.4

    66.4

    Monetary accounts (end of period, y/y percent change)

               

    Broad money growth

    3.6

    10.2

    4.8

    3.9

    1.9

    2.3

    3.7

    3.5

    3.2

    3.8

    3.2

    3.7

    Narrow money growth

    5.7

    14.2

    14.0

    3.1

    4.2

    5.9

    3.2

    4.7

    4.2

    5.1

    4.3

    4.9

    Credit to the private sector (by other depository corporations)

    2.4

    4.5

    4.5

    2.5

    1.5

    0.1

    1.0

    1.6

    1.8

    2.1

    2.3

    2.5

    Balance of payments (billions of U.S. dollars)

                           

    Current account balance

    38.3

    20.9

    -10.7

    -17.2

    7.4

    9.5

    11.9

    13.2

    14.6

    16.5

    18.2

    19.4

    (In percent of GDP)

    7.0

    4.2

    -2.1

    -3.5

    1.4

    1.8

    2.2

    2.3

    2.4

    2.6

    2.7

    2.8

    Exports of goods, f.o.b.

    242.7

    227.0

    270.6

    285.2

    280.7

    293.6

    301.8

    312.5

    327.2

    343.1

    359.0

    375.5

    Growth rate (dollar terms)

    -3.3

    -6.5

    19.2

    5.4

    -1.5

    4.6

    2.8

    3.6

    4.7

    4.9

    4.6

    4.6

            Growth rate (volume terms)

    -3.7

    -5.8

    15.4

    1.2

    -2.7

    2.1

    1.9

    2.7

    3.5

    3.6

    3.2

    3.2

    Imports of goods, f.o.b.

    216.0

    186.6

    238.6

    271.6

    261.4

    274.9

    284.6

    295.1

    309.1

    324.1

    339.1

    354.9

    Growth rate (dollar terms)

    -5.6

    -13.6

    27.9

    13.8

    -3.8

    5.2

    3.5

    3.7

    4.7

    4.9

    4.6

    4.7

            Growth rate (volume terms)

    -5.8

    -10.4

    18.0

    1.0

    -4.1

    3.7

    3.5

    3.3

    3.4

    3.3

    3.3

    3.3

    Capital and financial account balance 5/

    -24.7

    -2.6

    3.6

    6.9

    -4.9

    -9.5

    -11.9

    -13.2

    -14.6

    -16.5

    -18.2

    -19.4

    Overall balance

    13.6

    18.4

    -7.1

    -10.2

    2.6

    0.0

    0.0

    0.0

    0.0

    0.0

    0.0

    0.0

    Gross official reserves (including net forward position, end of period) (billions of U.S. dollars)

    259.0

    286.5

    279.2

    245.8

    254.6

    262.5

    262.5

    262.5

    262.5

    262.5

    262.5

    262.5

    (Months of following year’s imports)

    16.7

    14.4

    12.3

    11.3

    11.1

    11.1

    10.7

    10.2

    9.7

    9.3

    8.9

    8.5

    (Percent of short-term debt) 6/

    338.0

    315.3

    291.2

    236.3

    242.7

    239.6

    231.7

    222.5

    213.7

    206.2

    199.6

    252.3

    (Percent of ARA metric)

    252.5

    278.3

    263.3

    222.3

    233.2

    231.8

    226.4

    219.2

    212.3

    205.4

    199.3

    200.0

    Exchange rate (baht/U.S. dollar)

    31.0

    31.3

    32.0

    35.1

    34.8

    35.3

    …

    …

    …

    …

    …

    …

    NEER appreciation (annual average)

    7.2

    -0.3

    -4.5

    -1.8

    3.9

    …

    …

    …

    …

    …

    …

    …

    REER appreciation (annual average)

    5.8

    -2.6

    -5.7

    -1.1

    1.2

    …

    …

    …

    …

    …

    …

    …

    External debt

                           

    (In percent of GDP)

    31.7

    38.0

    38.9

    40.6

    38.2

    38.4

    38.5

    38.6

    38.7

    38.7

    38.8

    38.8

    (In billions of U.S. dollars)

    172.7

    190.1

    196.9

    201.4

    196.5

    202.4

    213.1

    223.8

    233.8

    245.9

    257.0

    270.0

    Public sector 7/

    38.0

    37.2

    41.5

    41.2

    35.8

    38.4

    40.8

    43.3

    45.6

    48.1

    50.8

    53.7

    Private sector

    134.0

    152.9

    155.4

    160.3

    160.7

    164.5

    172.9

    181.1

    188.8

    198.3

    206.8

    217.0

    Medium- and long-term

    74.6

    79.4

    82.3

    82.3

    80.3

    80.7

    86.5

    91.1

    95.3

    101.5

    107.1

    114.0

    Short-term (including portfolio flows)

    59.4

    73.5

    73.1

    78.0

    80.4

    83.8

    86.4

    90.0

    93.5

    96.8

    99.7

    103.0

    Debt service ratio 8/

    7.8

    7.5

    6.3

    7.3

    7.9

    7.8

    7.8

    7.3

    8.3

    9.3

    10.3

    10.3

    Memorandum items:

                           

    Nominal GDP (billions of baht)

    16889.2

    15661.3

    16188.6

    17378.0

    17922.0

    18603.0

    19371.2

    20282.2

    21143.0

    22211.7

    23164.5

    24307.8

    (In billions of U.S. dollars)

    544.0

    500.5

    506.3

    495.6

    515.0

    527.1

    553.9

    580.2

    604.8

    635.4

    662.7

    695.4

    Output Gap (in percent of potential output)

    0.2

    -4.2

    -4.1

    -2.0

    -1.5

    -0.7

    0.0

    0.1

    0.0

    0.0

    0.0

    0.0

    Sources: Thai authorities; CEIC Data Co. Ltd.; and IMF staff estimates and projections.

    1/ This series reflects the new GDP data based on the chain volume measure methodology, introduced by the Thai authorities in May 2015.

    2/ On a fiscal year basis. The fiscal year ends on September 30.

    3/ Includes budgetary central government, extrabudgetary funds, and local governments.

    4/ Includes general government and SOEs.

    5/ Includes errors and omissions.

    6/ With remaining maturity of one year or less.

    7/ Excludes debt of state enterprises.

    8/ Percent of exports of goods and services.

                                                             

    [1] Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country’s economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board.

    [2] The Executive Board takes decisions under its lapse-of-time procedure when the Board agrees that a proposal can be considered without convening formal discussions.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Pavis Devahasadin

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    @IMFSpokesperson

    MIL OSI Economics –

    February 21, 2025
  • MIL-OSI USA: U.S. Senators Tommy Tuberville, Katie Britt Congratulate Director Patel, Urge FBI to Immediately Fill Open Slots at Redstone Arsenal

    US Senate News:

    Source: United States Senator Tommy Tuberville (Alabama)
    WASHINGTON, D.C. – U.S. Senators Tommy Tuberville (R-AL) and Katie Britt (R-AL) today sent a letter to Kash Patel following his Senate confirmation as the Director of the Federal Bureau of Investigation (FBI). In the letter, they urge Director Patel to immediately fill 1,000 of the open slots at FBI’s campus in Huntsville on Redstone Arsenal.
    The Senators wrote,“We are proud to represent the great state of Alabama, home to Redstone Arsenal which is the epicenter of the FBI’s technological capabilities and advanced training.  As threats to our nation become more sophisticated, FBI-Redstone Arsenal’s operations will need to continue growing.”
    “The North Campus is well prepared to support this mission by delivering state-of-the-art training to address cyber threats, emerging technologies, and the Field Offices’ investigative efforts.  The South Campus is currently under construction and will host even more capacity to address current and future threats,” they continued.
    “Given the strategic investments at Redstone Arsenal and how its synergies align with your mission of restoring the FBI’s focus to the safety and security of the American people, we urge you to assign an additional 1,000 employees to FBI-Redstone as a first step to ultimately filling the approximately 4,000 open slots the campus can accommodate.  This will send a message to our adversaries that the FBI’s leadership is back to prioritizing the pressing threats to our homeland. We look forward to working closely with you to Make America Safe Again,” the Senators added.
    The full text of the letter is available here.
    Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, HELP, and Aging Committees.

    MIL OSI USA News –

    February 21, 2025
  • MIL-OSI USA: Tuberville, Schmitt Reintroduce the ENABLE Act, Empower Americans with Disabilities

    US Senate News:

    Source: United States Senator Tommy Tuberville (Alabama)
    WASHINGTON – U.S. Senator Tommy Tuberville (R-AL) joined U.S. Senator Eric Schmitt (R-MO) in reintroducing the bipartisan, bicameral Ensuring Nationwide Access to Better Life Experience (ENABLE) Act. The ENABLE Act preserves the ability of people with disabilities and their families to save and invest through tax-free savings accounts while protecting eligibility to federal programs by making permanent key provisions related to Achieving a Better Life Experience (ABLE) accounts. 
    Sen. Tuberville also cosponsored the legislation last Congress.
    “Every human being is created by God and has inherent dignity, including those with disabilities. After 40 years in the education sector, I have seen firsthand how important it is for teachers, parents, community members, and Congress to work together to ENABLE these people for success. This legislation provides crucial safeguards for people with disabilities to help them invest, save, and achieve independence. I appreciate Senator Schmitt’s leadership on this issue that I know is close to his heart and look forward to working with him to get this legislation across the finish line,” said Sen. Tuberville.
    “I was proud to lead the introduction of the ENABLE Act in the 118th Congress, where this critical legislation passed the Senate. I entered public service to fight for people like my son Stephen. Stephen was born with a rare genetic disease, is on the autism spectrum, has epilepsy, and is non-verbal. I know firsthand how critical ABLE accounts are to individuals with disabilities and their families. ABLE accounts allow individuals with disabilities to save for their future and ease burdens on their families. It’s a common-sense solution that provides an easy fix for those who depend on ABLE Accounts, and I’m proud to have bipartisan, bicameral support for this important piece of legislation,” said Sen. Schmitt.
    U.S. Senators Tuberville and Schmitt are joined by U.S. Senators John Boozman (R-AR), Katie Britt (R-AL), Chris Coons (D-DE), John Fetterman (D-PA), Tim Kaine (D-VA), Mark Kelly (D-AZ), Amy Klobuchar (D-MN), Jerry Moran (R-KS), Dan Sullivan (R-AK), Thom Tillis (R-NC), Chris Van Hollen (D-MD), and Raphael Warnock (D-GA) in cosponsoring the legislation.
    U.S. Representative Lloyd Smucker (R-PA-11) led the effort in the House of Representatives.
    Read full text of the legislation here.
    BACKGROUND: 
    ABLE accounts—529A accounts—allow people with disabilities and their families to save and invest through tax-free savings accounts without losing eligibility for federal programs like Medicaid and Supplemental Security Income (SSI). There are three provisions related to these accounts in the Tax Cuts and Jobs Act (TCJA):
    ABLE to Work: an individual with a disability who is employed can contribute an additional amount to his or her ABLE account. This additional contribution cannot be greater than either:
    the prior year’s federal poverty level for a one-person household ($15,060 in 2024), or
    the beneficiary’s yearly compensation.

    ABLE Saver’s Credit: an individual with a disability who make qualified contributions to their ABLE account can qualify for a nonrefundable saver’s credit of up to $1,000.
    529 to ABLE rollover: an individual with a disability may rollover from a 529 education savings account to an ABLE account that are less than or equal to the annual ABLE contribution limit tax and penalty free.
    The ENABLE Act would make permanent the above provisions that are set to expire.
    Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, HELP, and Aging Committees.

    MIL OSI USA News –

    February 21, 2025
  • MIL-OSI USA: Florida Businessman Sentenced in Connection with Migrant Labor Employment Scheme, Payroll Tax Evasion, and Worker Death

    Source: US State of California

    A Florida man was sentenced yesterday to 48 months in prison and ordered to forfeit more than $5.5 million to the United States as well as forfeit numerous real properties and cash, and to pay over $55 million in restitution for conspiracy to commit wire fraud, conspiracy to defraud the United States and willful violation of a workplace standard that resulted in the death of his employee. Manual Domingos Pita, of Wesley Chapel, previously pleaded guilty to those charges on July 9, 2024.

    According to court documents, Pita owned and operated Domingos 54 Construction, a subcontracting business for the wood framing of new construction homes. Domingos 54 was a shell construction company that Pita used to provide workers, including undocumented aliens, with construction jobs. However, Pita failed to secure the required workers compensation insurance coverage for these employees by falsifying in worker’s compensation insurance applications the number of workers for which he sought coverage. In addition, Pita failed to pay any federal employment taxes on the wages that these workers earned during the course of the scheme between 2018 and 2022. As a result, Pita caused several worker’s compensation insurance companies to sustain a loss of over $22.7 million in premiums that they could have charged had they been aware of the number of workers which they had been manipulated into covering with their policies. In addition, Pita failed to pay to the IRS over $33.7 million in federal employment taxes on those workers’ wages.

    Between February and July 2019, investigators with the Occupational Safety and Health Administration (OSHA) issued six citations to Domingos 54 for failure to provide fall protection to workers. Even after being cited for these violations, Pita continued to ignore OSHA requirements. In March 2020, Pita assigned a worker and three other carpenters to install sheeting on the roof of a residential home in windy conditions without providing the required fall-protection gear or ensuring its use. As a result, one of the workers was blown off the roof and died from his injuries.

    “Pita’s history of OSHA violations and deception tragically led to a worker’s death,” said Principal Deputy Assistant Attorney General Adam Gustafson of the Justice Department’s Environment and Natural Resources Division. “We are committed to upholding the rule of law by prosecuting fraud and enforcing worker safety standards.”

    “The defendant in this case engaged in a deliberate scheme to defraud insurance companies, the government and evade taxes, resulting in huge losses to the U.S. Treasury, and to personally enrich himself,” said Acting U.S. Attorney for the Middle District of Florida Sara C. Sweeney. “In addition, flagrant violations of OSHA safety standards put workers at unacceptable risk, ultimately resulting in the death of an employee. My office is committed to federally prosecuting and holding accountable anyone who violates these laws and regulations.”

    “Mr. Pita repeatedly violated the longstanding policies designed to protect the workforce which resulted in a tragic death,” said Special Agent in Charge Matthew Fodor of the FBI’s Tampa Field Office. “The FBI and its partners will aggressively pursue those who selfishly ignore the laws and policies in place to protect America’s workforce.”

    “Not only does this type of scheme give an illegal advantage over honest competitors, it intends to allow the use of illegal, undocumented labor to achieve that advantage,” said Special Agent in Charge Ron Loecker of IRS Criminal Investigation’s Tampa Field Office. “It’s a blatant form of cheating that undercuts fair competition, costs the government millions of dollars in tax revenue, and skirts our nation’s immigration laws. This case reaffirms our unwavering commitment to prosecuting those who engage in fraud at the expense of workers, taxpayers, and law-abiding businesses.”

    The FBI, IRS Criminal Investigation, Homeland Security Investigations, Florida Department of Financial Services’ Bureau of Insurance Fraud-Criminal Investigations and the Department of Labor’s Office of Inspector General investigated the case.

    Assistant U.S. Attorney Jay L. Hoffer for the Middle District of Florida and Senior Trial Attorney Banumathi Rangarajan of the Environment and Natural Resources Division’s Environmental Crimes Section prosecuted the case.

    MIL OSI USA News –

    February 21, 2025
  • MIL-Evening Report: Deepfakes can ruin lives and livelihoods – would owning the ‘rights’ to our own faces and voices help?

    Source: The Conversation (Au and NZ) – By Graeme Austin, Chair of Private Law, Te Herenga Waka — Victoria University of Wellington

    Getty Images

    Not that long ago, the term “deepfake” wasn’t in most people’s vocabularies. Now, it is not only commonplace, but is also the focus of intense legal scrutiny around the world.

    Known in legal documents as “digital replicas”, deepfakes are created by artificial intelligence (AI) to simulate the visual and vocal appearance of real people, living or dead.

    Unregulated, they can do a lot of damage, including financial fraud (already a problem in New Zealand), political disinformation, fake news, and the creation and dissemination of AI-generated pornography and child sexual abuse material.

    For professional performers and entertainers, the proliferation and increasing sophistication of deepfake technology could demolish their ability to control and derive income from their images and voices.

    And deepfakes might soon take away jobs: why employ a professional actor when a digital replica will do?

    One possible solution to this involves giving individuals the ability to enforce intellectual property (IP) rights to their own image and voice. The United States is currently debating such a move, and New Zealand lawmakers should be watching closely.

    Owning your own likeness

    Remedies already being discussed in New Zealand include extending prohibitions in the Harmful Digital Communications Act to cover digital replicas that do not depict a victim’s actual body.

    Using (or amending) the Crimes Act, the Fair Trading Act and the Electoral Act would also be helpful.

    At the same time, there will be political pressure to ensure regulation does not stymie investment in AI technologies – a concern raised in a 2024 cabinet paper.

    Legislation introduced to the US Congress last year – the Nurture Originals, Foster Art, and Keep Entertainment Safe Bill – proposes a new federal intellectual property right that individual victims can use against creators and disseminators of deepfakes.

    Known informally as the “No Fakes Bill”, the legislation has bipartisan and industry support, including from leading entertainment worker unions. The US Copyright Office examined the current state of US law and concluded that enforceable rights were “urgently needed”.

    From the New Zealand perspective, the No Fakes Bill contains both helpful ideas and possible pitfalls. As we discuss in a forthcoming paper, its innovations include expanding IP protections to “everyday” individuals – not just celebrities.

    All individuals would have the right to seek damages and injunctions against unlicensed digital replicas, whether they’re in video games, pornographic videos, TikTok posts or remakes of movies and television shows.

    But these protections may prove illusory because the threshold for protection is so high. The digital replica must be “readily identifiable as the voice or visual likeness of an individual”, but it’s not clear how identifiable the individual victim of a deepfake needs to be.

    Well known New Zealand actors such as Anna Paquin and Cliff Curtis would certainly qualify. But would a New Zealand version of the bill protect an everyday person, “readily identifiable” only to family, friends and workmates?

    Can you license a digital replica?

    Under the US bill, the new IP rights can be licensed. The bill does not ban deepfakes altogether, but gives individuals more control over the use of their likenesses. An actor could, for example, license an advertising company to make a digital replica to appear in a television commercial.

    Licences must be in writing and signed, and the permitted uses must be specified. For living individuals, this can last only ten years.

    So far, so good. But New Zealand policy analysts should look carefully at the scope of any licensing provisions. The proposed IP right is “licensable in whole or in part”. Depending on courts’ interpretation of “in whole”, individuals could unknowingly sign away all uses of their images and voice.

    The No Fakes Bill is also silent on the reputational interests of individuals who license others to use their digital replicas.

    Suppose a performing artist licensed their digital replica for use in AI-generated musical performances. They should not, for example, have to put up with being depicted singing a white supremacist anthem, or other unsanctioned uses that would impugn their dignity and standing.

    Protectng parody and satire

    On the other side of the ledger, the No Fakes Bill contains freedom of expression safeguards for good faith commentary, criticism, scholarship, satire and parody.

    The bill also protects internet service providers (ISPs) from liability if they quickly remove “all instances” of infringing material once notified about it.

    This is useful language that might be adopted in any New Zealand legislation. Also, the parody and satire defence would be an advance on New Zealand’s copyright law, which currently contains no equivalent exception.

    But the US bill contains no measures empowering victims to require ISPs to block local subscribers’ access to online locations that peddle in deepfakes. Known as “site-blocking orders”, these injunctions are available in at least 50 countries, including Australia. But New Zealand and the US remain holdouts.

    For individual victims of deepfakes circulating on foreign websites that are accessible in New Zealand, site-blocking orders could offer the only practical relief.

    The No Fakes Bill is by no means a perfect or comprehensive solution to the deepfakes problem. Many different weapons will be needed in the legal and policy armoury – including obligations to disclose when digital replicas are used.

    Even so, creating an IP right could be a useful addition to a suite of measures aimed at reducing the economic, reputational and emotional harms deepfakes can inflict.

    The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. Deepfakes can ruin lives and livelihoods – would owning the ‘rights’ to our own faces and voices help? – https://theconversation.com/deepfakes-can-ruin-lives-and-livelihoods-would-owning-the-rights-to-our-own-faces-and-voices-help-249929

    MIL OSI Analysis – EveningReport.nz –

    February 21, 2025
  • MIL-OSI China: Chinese premier stresses boosting consumption, expanding domestic demand

    Source: People’s Republic of China – State Council News

    BEIJING, Feb. 20 — Chinese Premier Li Qiang has emphasized boosting consumption and improving people’s livelihoods through stronger and more targeted measures, in a bid to strengthen the fundamental role of consumption in driving economic development.

    Li made the remarks at a study session held by the State Council on Thursday.

    The premier noted that consumption must be prioritized for expanding domestic demand and driving economic growth, urging more effective measures to promote consumption and improve the consumption environment.

    More efforts should be made to facilitate service consumption, improve the supply of education, medical care, culture, sports, tourism, elderly care and household services, and accelerate the application of artificial intelligence (AI) to unlock consumption potential of AI terminal products, he said.

    He urged to develop high-quality products and services in more segments to stimulate new consumer demand.

    He also emphasized the need to relax market access in relevant industries, and boost high-quality product supply to meet emerging consumer demands.

    Liu Yuanchun, president of the Shanghai University of Finance and Economics, gave a lecture at the session. Vice premiers Ding Xuexiang and He Lifeng, and State Councilor Shen Yiqin participated in discussions.

    MIL OSI China News –

    February 21, 2025
  • MIL-OSI Security: Oakland Resident Convicted Of Dealing Firearms Without A License And Illegally Possessing Firearm And Ammunition

    Source: Office of United States Attorneys

    OAKLAND – Robert Davis was convicted of engaging in the business of dealing firearms without a license and firearms possession by a federal jury, announced Acting United States Attorney Patrick D. Robbins and Bureau of Alcohol, Tobacco, Firearms, and Explosives Special Agent in Charge Jennifer L. Cicolani.

    The jury found Davis, 31 of Oakland, California, guilty of selling for profit firearms that he purchased illegally in Texas.  The jury also found that on a separate occasion Davis illegally possessed a firearm and ammunition as a felon.  The jury acquitted Davis of an additional charge that Davis had possessed and shipped firearms. The verdicts followed a week-long jury trial before the Honorable Araceli Martínez-Olguín, U.S. District Judge.

    Evidence at trial showed that Davis travelled back and forth between California and Texas, where he illegally bought firearms at gun shows. After purchasing the firearms, the defendant shipped the firearms back to the Bay Area where he advertised and sold them for profit, principally using Instagram.  The evidence further showed that on December 22, 2021, law enforcement searched the defendant’s residence and found a loaded 5.7mm firearm in his home. Law enforcement also found more than 100 rounds of ammunition throughout the apartment as well as in Davis’s vehicle. Because Davis previously had been convicted of a felony, he was ineligible to possess the firearm and the ammunition.

    Davis is currently in custody pending sentencing which has not yet been scheduled.

    The maximum statutory penalty for the violation of 18 U.S.C. § 922(a)(1)(A) is five years in prison and a fine of $250,000, and the maximum statutory penalty violation of 18 U.S.C. § 922(g)(1) is ten years in prison and a fine of $250,000.  However, any sentence will be imposed by the court only after consideration of the U.S. Sentencing Guidelines and the federal statute governing the imposition of a sentence, 18 U.S.C. § 3553.

    Assistant U.S. Attorneys Evan Mateer and Jonah Ross are prosecuting the case with the assistance of Kevin Costello, Mark DiCenzo, and Amala James.  The prosecution is the result of an investigation by the ATF, Alameda County Sheriff’s Office, and Fort Worth (TX) Police Department.
     

    MIL Security OSI –

    February 21, 2025
  • MIL-OSI USA: Senators Coons, Cassidy reintroduce the Retirement Security for American Hostages Act

    US Senate News:

    Source: United States Senator for Delaware Christopher Coons
    WASHINGTON – Today, U.S. Senators Chris Coons (D-Del.) and Bill Cassidy, M.D. (R-La.) reintroduced the Retirement Security for American Hostages Act to ensure American hostages and wrongful detainees don’t see reduced Social Security earnings as a result of being unlawfully held abroad. In addition to Senators Coons and Cassidy, this legislation is co-sponsored by Senators Tim Kaine (D-Va.), Susan Collins (R-Maine), and Ron Wyden (D-Ore.). This legislation was previously introduced in the 118th Congress.
    “The financial impact of wrongful detention doesn’t end when Americans come home – the damage can last into their years of retirement,” said Senator Coons. “Americans like Paul Whelan – unjustly held in a Russian prison for six years until the Biden Administration secured his release – see severely reduced Social Security benefits for the rest of their lives and have precious little time to make those earnings back. The Retirement Security for American Hostages Act provides a straightforward and practical solution so that years spent in foreign detention don’t translate into permanently reduced retirement benefits for these Americans who have already suffered so much.”
    “Losing one’s freedom is enough to endure. Americans held hostage should not also lose their Social Security benefits,” said Senator Cassidy. “Ensuring their benefits are protected makes a difference in someone’s life.” 
    “Hostage US strongly supports the Retirement Security for American Hostages Act. As the leading organization providing reintegration support, guidance, and resources to Americans held hostage or wrongfully detained abroad, we see firsthand the long-term impact captivity has on individuals and their loved ones. This critical piece of legislation prevents reduced retirement security when hostages return home and means former captives can rebuild their lives without additional hardship. Americans who have endured captivity should have financial protections and this commonsense legislation will provide much-needed relief to those who have already suffered so much,” said Liz Cathcart, Executive Director of Hostage US.
    “The lives of Americans held hostage or wrongfully detained are forever altered in damaging ways that can continue upon their release and return home,” said Diane Foley, President, the James W. Foley Legacy Foundation. “This bill provides an important measure of relief to reduce the burdens faced by those who are lucky enough to be freed.” 
    Last summer, several Americans were released from wrongful detention in Russia as part of a historic prisoner exchange, and additional Americans have been released from hostage situations since then. These individuals now face financial obstacles resulting from their captivity, including diminished Social Security benefits when they reach retirement. Because they may not have received a paycheck or paid payroll taxes while in captivity, their Average Indexed Monthly Earnings (AIME), which determines their Social Security benefit upon retirement, may have diminished by a meaningful amount.
    The Retirement Security for American Hostages Act would amend the Social Security Administration’s (SSA) calculation of benefits for individuals identified as wrongful detainees by the federal government. The bill ensures that when calculating Social Security benefits, the SSA would assume “deemed wages” equal to the national average for each month a former hostage or detainee was held, preventing unjust reductions in their retirement benefits.
    Senator Coons has led numerous bills supporting American hostages and wrongful detainees and addressing financial hardships they often face upon their return. He reintroduced the Retirement Security for American Hostages Act alongside two other hostage bills today–– the Fair Credit for American Hostages Act and the Stop Tax Penalties on American Hostages Act. The first is a bill with Senator Thom Tillis (R-N.C.) that would empower former hostages and detainees to restore credit scores that may have been negatively impacted during their detention. The latter is with Senator Mike Rounds (R-S.D.) and would stop the IRS from imposing fines and penalties on American hostages and wrongful detainees for late tax payments while they are held abroad. Both of those bills unanimously cleared the Senate last year.
    A one-pager is available here.
    The full text of the legislation can be found here. 

    MIL OSI USA News –

    February 21, 2025
  • MIL-OSI USA: Senators Coons, Tillis reintroduce the Fair Credit for American Hostages Act

    US Senate News:

    Source: United States Senator for Delaware Christopher Coons
    WASHINGTON – U.S. Senators Chris Coons (D-Del.) and Thom Tillis (R-N.C.) reintroduced the Fair Credit for American Hostages Act today to protect the credit scores of Americans who have been held hostage or wrongfully detained abroad. In addition to Senators Coons and Tillis, this legislation is co-sponsored by Senators Ron Wyden (D-Ore.), Cynthia Lummis (R-Wyo.), Chris Van Hollen (D-Md.), and Mike Rounds (R-S.D.). This legislation was originally introduced in the 118th Congress, and passed the Senate unanimously in December.
    “When you’re held hostage or wrongfully detained in a foreign prison for months or years on end, you’re not thinking about whether there’s enough money coming into your bank account to pay your utility bill—but right now, financial institutions just see someone who’s not paying their bills. Americans who’ve already endured the trauma of wrongful detention abroad shouldn’t come home to find their credit score ruined,” said Senator Coons. “The Fair Credit for American Hostages Act addresses this injustice, providing crucial protection for these heroic Americans and their families who have already endured far too much, so that time spent in foreign detention doesn’t harm their financial futures long after they’re home.”
    “No one should ever have to fear returning home to financial ruin and a damaged credit history due to their inability to make timely payments while being held hostage in a foreign country,” said Senator Tillis. “This commonsense legislation ensures that Americans held captive abroad won’t have to grapple with the financial distress of a ruined credit score, so they can focus on rebuilding their lives.”
    “Hostage US strongly supports the Fair Credit for American Hostages Act. As the leading organization providing reintegration support, guidance, and resources to Americans held hostage or wrongfully detained abroad, we see firsthand the long-term impact captivity has on individuals and their loved ones. This critical piece of legislation prevents damaged credit when hostages return home and means former captives can rebuild their lives without additional hardship. Americans who have endured captivity should have financial protections and this commonsense legislation will provide much-needed relief to those who have already suffered so much,” said Liz Cathcart, Executive Director of Hostage US.
    “The Foley Foundation appreciates Senator Coons’ consistent, bipartisan leadership to address the often profound challenges faced by Americans who survive unjust captivity abroad. These bills offer common sense solutions to the financial issues former hostages face as they seek to restore their lives and livelihoods,” said Benjamin Gray, Executive Director of the Foley Foundation.
    Americans who are held hostage or wrongfully detained abroad often cannot pay their bills while in detention. Upon their release and return to the United States, many find that their credit scores have suffered due to missed payments. This bipartisan legislation would prevent credit rating agencies from considering payments missed during the detention of Americans who have been held hostage or wrongfully detained abroad.
    Senator Coons has led numerous bills supporting American hostages and wrongful detainees and addressing financial hardships they often face upon their return. He reintroduced the Fair Credit for American Hostages Act alongside two other hostage bills today––the Stop Tax Penalties on American Hostages Act and Retirement Security for American Hostages Act. The first is a bill with Senator Mike Rounds (R-S.D.) that would stop the IRS from imposing fines and penalties on American hostages and wrongful detainees for late tax payments while they are held abroad. This bill unanimously cleared the Senate last year. The latter is a bill with Senator Bill Cassidy, M.D. (R-La.) that would ensure that hostages and wrongful detainees are not penalized in calculating their Social Security benefits. 
    A one-pager is available here.
    The full text of the legislation can be found here.

    MIL OSI USA News –

    February 21, 2025
  • MIL-OSI USA: Crapo on Extension of Trump Tax Cuts: Failure is Not an Option

    US Senate News:

    Source: United States Senator for Idaho Mike Crapo
    Washington, D.C.–Ahead of debate on the Senate FY2025 Budget Resolution, U.S. Finance Committee Chairman Mike Crapo (R-Idaho) set the record straight on the pro-growth Trump tax cuts, which lowered rates for Americans across the board and benefitted middle-income Americans the most.  He warned that, if the tax cuts are allowed to lapse at the end of the year, American families and businesses will face the largest tax hike in U.S. history.

    Full remarks as delivered:
    “Today, we are debating the narrow Senate FY2025 Budget Resolution that fulfills promises to secure America’s borders, increase our national defense, unleash our energy potential and finally start to get our fiscal house in order. 
    “In the near future, I expect us to move forward with a Budget Resolution that allows us to prevent a more than $4 trillion tax hike on American households–the largest tax hike in history of America–that will be felt by virtually every American if the tax cuts expire at the end of this year.
    “Because the other side has filed a litany of tax amendments that rehash various false narratives and each side will only have one minute to debate, I’m going to spend some time right now explaining why we can’t afford a $4 trillion-plus tax increase; the positive impact the Trump tax cuts had on the economy; and some of the key provisions that expire at the end of year. 
    “At the end of this year, many key provisions of President Trump’s 2017 Tax Cuts and Jobs Act are set to expire, triggering an over-$4 trillion tax hike on American families and businesses.
    “While taxes will increase on Americans of all income levels, the majority of this tax hike, about $2.6 trillion, will fall on those making less than $400,000 per year.
    “An average family of four making about $80,000 per year would see a $1,700 tax hike in 2026.
    “Another $600 billion plus will hit millions of small business owners, who could see federal tax rates skyrocket up to 43.4 percent.
    “Tens of millions of families will see their child tax credit cut in half from $2,000 to $1,000.
    “The list goes on, but first I’ll talk about what the Trump tax cuts actually did, and why failing to extend key provisions would be economically devastating for millions of hardworking taxpayers.
    “So, what did the Trump tax cuts do?
    “There’s been a lot of talk recently about how extending these expiring tax cuts are all for billionaires and corporations, but the facts show otherwise.
    “The 2017 tax bill increased take-home pay and powered a growing economy. 
    “Individuals across all income brackets received a tax cut, not just–as opponents suggest–for the uber wealthy.
    “In fact, the Trump tax cuts made the tax code more progressive, meaning the highest income earners now pay a greater share of all income taxes than they did before 2017.
    “The majority of benefits accrued to working middle-class families.
    “Between the bill’s passage in 2017 and 2021, the bottom 50 percent of earners received the largest reduction in average tax rates at 17.3 percent. 
    “In addition to lowering tax rates across the board, the Trump tax cuts doubled the standard deduction and the child tax credit and provided tax relief to America’s entrepreneurs and small businesses.
    “The effects of pro-growth tax reform were almost immediate. 
    “Not only did taxpayers get to keep more of their hard-earned money, but a growing economy helped median household income reach an all-time high.
    “The labor market improved, workers saw wage growth and the unemployment rate fell dramatically to 3.5 percent–the lowest in 50 years. 
    “And the lowest-income workers experienced the largest wage growth.
    “Corporate inversions became a thing of the past, and America became the place to do business. 
    “All Americans reaped the benefits of a booming economy. 
    “Extending this current, proven tax policy–and building on it–is the best way to restore economic prosperity and opportunity for working families, many of whom are still struggling to recover from the historic inflation of the last four years.
    “As American families contend with increased costs of everyday living, the last thing they need is another massive tax hike on top of that inflation.
    “Failure is simply not an option.
    “So, what happens if the Trump tax cuts expire?
    “As I’ve said, if we do not extend these tax policies, Americans will be hit with an over-$4 trillion tax increase.
    “More than $2.6 trillion will fall on households earning less than $400,000 per year.
    “An average family of four making $80,000 will be saddled with a $1,700 tax increase.  This is the equivalent of six to eight weeks’ worth of groceries for a family of four.
    “Tens of millions of families will see their child tax credit cut in half to $1,000, and
    90 percent of taxpayers would see their standard deduction cut in half.
    “Owners of over 20 million small businesses will face a massive tax hike, with tax rates up to 43.4 percent.
    “7 million taxpayers will be impacted by the Alternative Minimum Tax, up from just 200,000 taxpayers currently.
    “Many more small businesses and farms will have their death tax exemption cut in half.
    “The National Association of Manufacturers recently highlighted that if we allow the Trump tax cuts to expire, 6 million jobs would be at risk; $540 billion in employee compensation will be lost, and U.S. GDP will be reduced by $1.1 trillion.
    “So, while we aren’t considering tax policy as part of this reconciliation package, it is important to set the record straight on what’s at stake in the upcoming tax debate. 
    “And the stakes couldn’t be higher.
    “Tonight, you’re going to hear dozens and dozens of tax amendments, and we’re going to respond to each of those by explaining that that debate is not this budget.
    “The budget that we’re debating today is on the border, national defense, and increasing our oil and gas production to strengthen our economy.
    “And Senate and House Republicans are working together to act as quickly as possible to make the Trump tax cuts permanent, but that will be in the next step. 
    “We must prevent a massive tax hike and provide relief and certainty to families and businesses across America.”

    MIL OSI USA News –

    February 21, 2025
  • MIL-OSI USA: Crapo Joins Bill to Protect Western Way of Life

    US Senate News:

    Source: United States Senator for Idaho Mike Crapo

    Washington, D.C.–U.S. Senators Mike Crapo (R-Idaho) and John Barrasso (R-Wyoming) introduced legislation to protect multiple use policy on federal lands.  The legislation would block the Bureau of Land Management’s (BLM) finalized Public Lands Rule.
    “Idaho is fortunate to be home to some of our nation’s most unique landscapes and vast natural resources,” said Crapo.  “We have a responsibility to ensure our local communities are consulted on decisions that impact the land on which they live and depend.  The BLM’s rule goes against both congressional intent and the will of those who work, recreate or live on or near federal lands.”
    Co-sponsors of this legislation include U.S. Senators Cynthia Lummis (R-Wyoming), John Curtis (R-Utah), Jim Risch (R-Idaho) and Kevin Cramer (R-North Dakota).
    Background:
    The final BLM rule runs counter to the agency’s multiple use mandate under the Federal Land Policy and Management Act of 1976 (FLPMA).
    According to FLPMA, the BLM is required to balance the multiple uses of public lands including recreation, energy, mining, timber and grazing.
    The “Conservation and Landscape Health” rule rearranges agency priorities by putting a new, single use on equal footing with long established uses that Congress explicitly directed. 
    The rule also places an outsized focus on the use of restrictive Areas of Critical Environmental Concern designations that have compromised land and water health across the West.
    Full text of the legislation can be found here.

    MIL OSI USA News –

    February 21, 2025
  • MIL-OSI USA: Barrasso: Senate GOP Will Secure the Border, Restore Peace Through Strength, and Unleash American Energy

    US Senate News:

    Source: United States Senator for Wyoming John Barrasso

    WASHINGTON, D.C. – U.S. Senator John Barrasso (R-Wyo.), Senate Majority Whip, today spoke on the Senate Floor about the Senate Budget Resolution.

    Click HERE to watch Senator Barrasso’s remarks.

    Sen. Barrasso’s remarks as prepared:

    “The Democrat Leader has a lot to say about the Senate Budget Resolution. None of it is accurate.

    “I have the budget resolution with me. The key section is five pages long. That’s it. Every American can read it for themselves.

    “This resolution focuses on three things.

    “First, securing the border.

    “Second, restoring peace through strength.

    “Third, unleashing American energy.

    “It’s not complicated. It’s common sense. Americans overwhelmingly support these goals.

    “Senate Republicans are moving forward.

    “Let’s talk about border security.

    “This budget allocates $175 billion to secure our border. That includes funding for President Trump’s successful executive orders to deport criminal illegal immigrants.

    “Border Patrol Agents and ICE Agents need more resources.

    “There are currently more than 600,000 illegal immigrants with criminal records in our country.

    “President Trump and Homeland Security Secretary Kristi Noem are moving at lightning speed to deport them. That makes our communities safer.

    “Their strong actions have led to double the number of arrests of illegal immigrants compared to arrests under President Biden.

    “These arrests are making our communities safer and sending a message to would-be illegal immigrants around the world. They are turning around and going home.

    “Illegal border crossings between the U.S. and Mexico are at their lowest in 5 years.

    “President Trump’s actions are working.

    “They are working so well that the Trump administration says it is running out of money for deportations.

    “Border Czar Tom Homan told us that. Secretary Noem told us that. Secretary of Defense Pete Hegseth told us that. Attorney General Pam Bondi told us that.

    “Senate Republicans will act quickly to get the administration the resources they requested and need.

    “This budget will allow us to finish the wall.

    “It is a step towards hiring more border agents.

    “It means more detention beds so dangerous criminals are off the streets.

    “It means more deportation flights so dangerous criminals are out of our country.

    “Now, let’s talk about our national security.

    “This bill allocates $150 billion to restore peace through strength.

    “We live in a dangerous world. The threats against the United States are higher than we’ve seen in decades.

    “There is the threat of terrorism. You saw the danger of terrorism in New Orleans this year.

    “There is the threat of the Chinese Communist Party. They are rapidly building up their military. Meanwhile, over the past four years, weak leadership undermined our military.

    “There is the threat of Iran. They are the largest state sponsor of terrorism. They are also racing towards a nuclear bomb.

    “Weakness invites conflict. Strength deters war.

    “This budget is a big step towards rebuilding our military and protecting our nation after four years of weakness.

    “We are already seeing a surge of young people who want to join the military.

    “Under President Trump and Secretary Hegseth, recruitment is at its highest levels in 15 years.

    “With this budget, America will be stronger. Our military will be more lethal.

    “Now let’s talk about American energy dominance.

    “This bill would take the handcuffs off of American energy production.

    “The previous administration caused painfully high prices with its energy blunders. It locked up affordable, reliable, American-made energy.

    “Families suffered from soaring prices. Our economy struggled.

    “Passing this budget allows us to reject the energy failures of the past four years. It puts a premium on affordable, reliable American energy.

    “The federal government would also see its revenue increase as we produce more American energy.

    “If you listen to Senate Democrats, it’s abundantly clear that they do not support these goals.

    “Democrats are opposed to securing our border, rebuilding our military, and unleashing American energy.

    “Democrats are standing in the way of common-sense priorities that Americans overwhelmingly support.

    “Democrats are a party in panic mode. Their high prices and open border agenda
    are out of touch with the American people.

    “Democrats used this very process a few years ago to raise taxes and pass trillions of dollars in Wasteful Washington Spending.

    “They wasted taxpayer money to subsidize electric vehicles for the rich. They sent stimulus checks to criminals like the Boston Marathon Bomber.

    “The federal government is too big and spends too much.

    “Republicans will end the Wasteful Washington Spending and get America back on track.

    “After 4 years of high prices and open borders, Americans deserve a path to safety and prosperity.

    “Starting with the Republican budget, they will finally get it.”

    MIL OSI USA News –

    February 21, 2025
  • MIL-OSI USA: Cornyn, GOP Colleagues Urge ATF to Rescind Unconstitutional Biden Rules, Align with Trump 2A Agenda

    US Senate News:

    Source: United States Senator for Texas John Cornyn

    WASHINGTON – U.S. Senator John Cornyn (R-TX) and 29 of his Senate GOP colleagues today sent a letter to the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF) Deputy Director Marvin Richardson urging him to align the agency with President Trump’s Second Amendment priorities as laid out in his recent Executive Order and calling on him to identify and rescind former President Biden’s unlawful firearms regulations, including the “Engaged in the Business” rule, pistol brace rule, so-called “ghost gun” rule, and “zero tolerance” policy under which ATF has revoked the licenses of federal firearm licensees (FFLs) over minor bookkeeping violations:

    They wrote: “On Friday, February 7, 2025, President Donald J. Trump took decisive action to reaffirm law-abiding Americans’ Second Amendment rights in issuing his Executive Order, Protecting Second Amendment Rights.  We urge you to immediately align ATF’s rules and policies with the President’s strong support for the Second Amendment.”

    “Under former President Joe Biden, ATF adopted numerous policies and rules that infringed upon Americans’ Second Amendment protections. President Trump’s Executive Order directs Attorney General Pam Bondi to review and develop a plan of action regarding President Biden’s unlawful firearms regulations. We ask that you work with the Attorney General to quickly identify and rescind these policies.”

    Senate Majority Leader John Thune (R-SD) and Senators Thom Tillis (R-NC), John Barrasso (R-WY), Cindy Hyde-Smith (R-MS), Shelley Moore Capito (R-WV), Jim Justice (R-WV), Jim Risch (R-ID), Cynthia Lummis (R-WY), Steve Daines (R-MT), Ted Cruz (R-TX), Kevin Cramer (R-ND), Mike Crapo (R-ID), James Lankford (R-OK), John Hoeven (R-ND), Roger Marshall (R-KS), Rick Scott (R-FL), Lindsey Graham (R-SC), Ted Budd (R-NC), Bill Hagerty (R-TN), Tim Sheehy (R-MT), Pete Ricketts (R-NE), Bill Cassidy (R-LA), Joni Ernst (R-IA), Marsha Blackburn (R-TN), Todd Young (R-IN), Markwayne Mullin (R-OK), Deb Fischer (R-NE), Jim Banks (R-IN), and Jerry Moran (R-KS) joined the letter.

    The full text of the letter is available here and below.

    February 20, 2025

    Marvin G. Richardson

    Deputy Director

    Bureau of Alcohol, Tobacco, Firearms and Explosives

    99 New York Avenue, NE

    Washington, DC 20226

    Dear Deputy Director Richardson:

    Thank you for your service in leading the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) during the presidential transition. On Friday, February 7, 2025, President Donald J. Trump took decisive action to reaffirm law-abiding Americans’ Second Amendment rights in issuing his Executive Order, Protecting Second Amendment Rights.  We urge you to immediately align ATF’s rules and policies with the President’s strong support for the Second Amendment.

    Under former President Joe Biden, ATF adopted numerous policies and rules that infringed upon Americans’ Second Amendment protections. President Trump’s Executive Order directs Attorney General Pam Bondi to review and develop a plan of action regarding President Biden’s unlawful firearms regulations. We ask that you work with the Attorney General to quickly identify and rescind these policies. In particular, we call your attention to the following anti-Second Amendment regulations and policies, which must be immediately rescinded:

    • The engaged in the business rule, which is an unconstitutional attempt to move ATF to do all it can to impose universal background checks on law-abiding Americans. ATF has been enjoined, at least temporarily, from enforcing the rule because it violated the text of the Gun Control Act. 
    • The pistol brace rule, which improperly reclassifies pistols equipped with stabilizing braces as “short-barreled rifles” (SBRs), thereby subjecting them to stringent regulations and serious criminal penalties under the National Firearms Act and the Gun Control Act. We are troubled by the fact that ATF promulgated this rule after it previously determined that attaching a stabilizing brace to a pistol did not render the pistol an SBR.  This rule threatens to put stabilizing braces out of reach of millions of gun owners, including disabled combat veterans who rely on them to be able to shoot heavy pistols. Furthermore, the rule made law-abiding Americans felons overnight for having lawfully purchased stabilizing brace equipped pistols. Multiple courts have already found the rule to be arbitrary and capricious under the Administrative Procedure Act, and it was ordered vacated by the U.S. District Court for the Northern District of Texas.  We appreciate the Government’s recent motions to hold ATF’s 5th and 11th Circuit appeals defending the rule in abeyance and to postpone oral argument, and ATF should work quickly to accede to the vacatur given the ongoing litigation. 
    • The so-called “ghost gun” rule,  which cracks down on law-abiding hobbyists who are exercising their Second Amendment rights to privately build firearms—a longstanding tradition that traces back to the Colonial Era.  The regulations are currently before the Supreme Court, but ATF should act immediately to rescind this rule.
    • The “zero tolerance” policy, under which ATF has revoked the licenses of federal firearm licensees (FFLs) over minor bookkeeping violations.  This policy violates a decades-long precedent of ATF working with FFLs to address these minor, unintentional violations and revoking FFL licenses only in cases of major, willful violations that threaten public safety. ATF should develop a program to restore the federal firearms licenses of those FFLs whose licenses were unfairly revoked—or surrendered under duress—where they did not engage in willful conduct (as understood prior to June 23, 2021, when the policy was announced) and do not represent at threat to public safety.

    In addition to promptly rescinding these rules and policies, we urge you to immediately destroy the hundreds of millions of ATF Form 4473 firearm transaction records and other licensee records that are over 20 years old. These records have no particular law enforcement value but do contain the sensitive information of millions of law-abiding gun owners.  ATF should likewise return to the policy of allowing FFLs to destroy Form 4473 in their possession that are over 20 years old, which the Biden Administration initiated in violation of the federal prohibition on gun registration.  Ending the policy of retaining these very old records will save money for the American taxpayer and counteract ATF’s unconstitutional rule change.  

    Furthermore, we urge you to “continue collaboration to improve the process for” National Firearms Act applications. Congress recently instructed ATF to make these improvements.  While NFA wait times have improved significantly, ATF must continue to “address ongoing delays in application processing times” until the archaic process is at least as efficient as the National Instant Criminal Background Check System. There is no reason that the right to purchase a firearm should be so greatly delayed; a right delayed is a right denied.

    The foregoing should not be considered a full accounting of every action or policy for which ATF may be held responsible under President Trump’s Executive Order but represent obvious and high priority places for ATF to initiate compliance.

    We look forward to working with you through the transition as you implement President Trump’s agenda and reorient ATF toward protecting Americans’ Second Amendment rights.

    Sincerely,

    /s/

    MIL OSI USA News –

    February 21, 2025
  • MIL-OSI New Zealand: Carbon capture one step closer

    Source: New Zealand Government

    The Government has made key decisions on a Carbon Capture, Utilisation, and Storage (CCUS) framework to enable businesses to benefit from storing carbon underground will support New Zealand’s businesses to continue operating while reducing net carbon emissions, Energy and Climate Change Minister Simon Watts says.
    “Economic growth is a key focus for this Government, and we want the energy sector to be the engine for our economy – driving electrification and unlocking economic growth,” Mr Watts says.
    “The Government is committed to removing regulatory barriers to enable the supply of abundant, affordable energy to power our homes and businesses – and to reduce net carbon emissions.”
    The Government has made decisions on the key elements of a CCUS framework, designed to enable carbon capture and storage in New Zealand, with legislation expected to be introduced this year.
    “Under our CCUS framework, businesses that capture and store CO2   will be rewarded through the Emissions Trading Scheme (ETS), our Government’s key tool to reducing net emissions. This will help reduce emissions obligations for New Zealand businesses as we progress towards a low-emissions economy,” Mr Watts says.
    “By making these decisions, we are aligning New Zealand with other countries that are successfully utilising CCUS to drive economic growth and attract investment. Our framework not only supports innovation but also provides a pathway for businesses to remain competitive while reducing net emissions.
    “Ensuring safe and effective storage of CO2 is critically important. That’s why our framework will require any CCUS project to undertake a thorough assessment of storage site suitability and proposed operations, followed by ongoing monitoring.
    “CCUS is gaining momentum internationally as a way to reduce net emissions and support economic growth. In New Zealand, this innovative approach has significant untapped potential of capturing CO2 emissions that would not otherwise benefit Kiwis to create valuable products and materials.
    “Our Government’s second emissions reduction plan, which was released at the end of last year, highlighted carbon capture and storage as a key tool to meeting the second and third emissions budgets.”

    MIL OSI New Zealand News –

    February 21, 2025
  • MIL-OSI New Zealand: Auckland fruit fly – controls on produce movements now in place

    Source: Ministry for Primary Industries

    Biosecurity New Zealand has now placed legal controls on the movement of fruit and vegetables in the Auckland suburb of Birkdale and nearby areas on the North Shore following the detection of a single male Oriental fruit fly, says Biosecurity New Zealand Commissioner North Mike Inglis.

    The horticulture pest was found in one of Biosecurity New Zealand’s national surveillance traps which are placed in fruit trees in residential back yards. Other traps in the area checked in recent days showed no signs of other flies and our initial investigations have found no other signs to date.

    “While there is no evidence of a breeding population at this stage, we need community help to make sure we successfully find and eradicate any further fruit flies that may be present in the area,” Mr Inglis says.

    Biosecurity New Zealand staff have been busy in the area today laying more traps and giving out information to households. Around 100 additional traps which specifically target oriental fruit fly are being placed within a 1500m area of the original find.

    “There have been 13 previous fruit fly incursions in New Zealand, which we have successfully eradicated so we have a very strong and detailed operational plans to guide our work.

    “The rules now in place prohibit moving fruit and vegetables out of a specified controlled area around where the fruit fly was found.

    “You can find a detailed map of the controlled area and a full description of the boundaries and rules in place here: https://mpi.govt.nz/fruitfly .”

    The controlled area has two zones – A and B. Zone A is a 200-metre zone. Zone B covers 1500m.

    Zone A

    No whole fresh fruit and vegetables, except for leafy vegetables and soil-free root vegetables, can be moved outside Zone A. This applies to all produce, regardless of whether it was bought or grown.

    Zone B

    All fruit and vegetables grown within Zone B cannot be moved out of the controlled area.

    “These legal controls are an important precaution. Should there be any more flies out there, this will help prevent their spread out of the area,” Mr Inglis says.

    “It is likely the restrictions will be in place for at least two weeks.”

    Signs will also be put in place notifying people of the restrictions and marking the controlled area boundaries.

    “While it’s disappointing to detect another Oriental fruit fly so soon after closing our previous response in Papatoetoe, the latest find highlights the value of our trapping and surveillance efforts.

    “It is not unprecedented to have multiple detections. In 2019, we successfully responded to fruit fly detections in three Auckland suburbs, showing the effectiveness of New Zealand’s biosecurity system,” Mr Inglis says.

    Biosecurity New Zealand is working closely with the horticultural industry.

    “We all appreciate this will be inconvenient for the many people living in and around the controlled area, but following these directions is a critical precaution to protect our horticultural industries, home gardens and our New Zealand way of life.”

    To report suspected finds of fruit fly, call MPI’s Pest and Diseases Hotline on 0800 80 99 66.

    Detail about the controlled area

    Zone A

    No fruit and vegetables (other than leafy or soil free root vegetables and cooked, processed, preserved, dried, frozen and canned fruit) can be moved from Zone A of the controlled area.

    Compost and green waste from gardens also cannot be moved out of this zone.

    Residents in Zone A are asked to avoid composting fruit and vegetables. To dispose of fruit and vegetable waste, use a sink waste disposal unit if available, or bins provided by Biosecurity New Zealand. These bins will be delivered shortly, and residents advised of their location.

    Zone B

    No fruit and vegetables grown in the Zone B can be moved out of the controlled area. You are free to move commercially purchased fruit and vegetables (e.g. fruit and vegetables brought at the supermarket) out of the area. Homegrown produce waste and garden waste needs to be disposed of in Biosecurity New Zealand bins.

    Check out https://mpi.govt.nz/fruitfly for further information.

    Biosecurity New Zealand will provide further media updates at approximately 10am on Saturday and Sunday. 

    Media queries to media@mpi.govt.nz or 029 894 0328.

    MIL OSI New Zealand News –

    February 21, 2025
  • MIL-OSI USA: Hartford, Stamford Campuses Open ‘Innovate Labs’ Where Technology, Fun, and New Skills Connect

    Source: US State of Connecticut

    Freshman Barbara Hawke Lopez was the captain of her high school robotics team and enjoys coding and emerging technology.

    When she discovered that Innovate Labs was opening a facility on the UConn Stamford campus, with hands-on learning opportunities in emerging technology, she was intrigued.

    Today, Hawke Lopez is employed as a lab assistant there, teaching her peers how to experiment with new technology, and helping them develop their confidence in the automation of the future.

    “When you come into the lab, there is almost always someone playing a game using virtual reality,’’ said Hawke Lopez, who is studying journalism and cognitive science. “Other students come in to 3D print everything from pop culture-inspired objects to fidget-spinner toys. There’s a good mix of activities.’’

    “The lab is very new-user friendly and there are always two or three people there to help you if you get stuck,’’ she said. The lab, which opened in September 2024, is located in Room 310.
    “People are excited when they discover it, and I think it is a good addition to our campus and the overall business environment. It is helping student develop confidence and career skills,’’ she said.

    Hartford Campus Debuted Lab Last Week

    But Stamford students aren’t the only ones with new experiences. Innovate Labs opened another facility in Hartford last week. This newest Lab can be found on the first floor of the Graduate Business Learning Center in Hartford, at 100 Constitution Plaza. All students, regardless of major, as well as faculty and staff are welcome to explore the Lab.

    On the opening day, Feb. 10, student workers demonstrated 3D pens, VR headsets and circuitry that can track a user’s heart rate. The event drew students and staff from the GBLC, Storrs, and the nearby Hartford Times Building.

    A festive balloon arch welcomed students and faculty to the first-floor center that includes stations featuring the Internet of Things (IoT) devices, virtual and augmented reality, 3D printing and modeling, voice and smart technology, drones, robotic, and circuitry and sensors. Both the Stamford and Hartford Innovate Labs are modeled after the original lab located in the School of Business in Storrs.

    Lucy Ledesma, a junior majoring in the dual-degree MEM program and a Lab Outreach Specialist in Storrs, traveled to Hartford to demonstrate the technology. “I think it’s great that students on other campuses are getting to have the experiences we have,’’ she said.

    Innovate Labs Tech Manager, Sophia Hatzis, a sophomore majoring in sociology and mechanical engineering, said initially some students are reluctant to experiment.

    “At first they might not know how to get started, but there is always someone there to walk them through it and build their confidence to try more advanced things,’’ she said.

    Bringing Energy and Excitement to Campus

    Innovate Labs is part of the Digital Frontiers Initiative (DFI) at the School of Business. The program bridges academia and industry through cutting-edge research, innovation, and partnerships. DFI operates under the umbrella of the Connecticut Information Technology Institute at UConn.

    “Our goal is to create an opportunity for students to develop new skills that will foster the next generation of learners, leaders, entrepreneurs and innovators,’’ said OPIM professor Jon Moore, who is also the Executive Director of DFI. He created and oversees all three labs.

    The original Innovate Lab opened in Storrs eight years ago, after some recent graduates said they would have liked more emerging technology skills as they entered the workforce.

    “People can start where they are comfortable,’’ Moore said. “We encourage people to push themselves out of their comfort zone but also to acquire skills that match their career interests. Not only is it valuable but keeps students on campus and engaged but it brings energy and excitement to campus.’’

    OPIM professor Wei Chen, the Academic Director of the DFI, agreed.

    “The Innovate Labs are a vibrant space where students can explore emerging technologies and bring their ideas to life,’’ he said. “It’s an incredible opportunity for them to experiment, collaborate, and gain hands-on experience with the latest tools shaping the future.’’

    Students Can Advance to Local Makerspaces

    Another advantage of the regional Innovate Labs is that once students get comfortable with the technology there, they can expand their ideas at nearby makerspaces.

    Stamford students have access to GE’s CoCreate, a 65,000-square-foot maker space, that welcomes everyone from chefs to designers to contractors or homeowners to use their equipment and explore the “community playground.’’

    The Digital Frontiers Initiative is in conversation with GE CoCreate about joint workshops, events, and projects.

    In Hartford, DFI is building a dynamic relationship with MakerSpace CT, which is just a short walk from both Hartford campuses. Students have an opportunity to earn three months of free membership to this space by participating in a one of Innovate Labs’ non-credit programs, Innovate2Create. This program is designed to help students turn their idea into a marketable prototype. The nine-week program includes guest speakers from MakerspaceCT, and will conclude with a pitch presentation there in the spring.

    For UConn students who are interested, Innovate Labs offer employment opportunities, with students having the choice of working on the tech team (which oversees inventory and learning), the outreach team (which leads workshops, clubs, and classes), or the marketing team. Lab workers from all three campuses collaborate, and live-feed cameras allow them to share ideas, solve problems, or just say hello from across the state.

    Moore is now working towards offering workshops for non-UConn students, particularly elementary, middle and high school students in the area.

    If you would like to learn more about DFI, or take a guided tour of one of the Innovate Labs, please contact Katherine Lorange at Katherine.Lorange@uconn.edu.

    MIL OSI USA News –

    February 21, 2025
  • MIL-OSI Security: Florida Businessman Sentenced in Connection with Migrant Labor Employment Scheme, Payroll Tax Evasion, and Worker Death

    Source: United States Attorneys General 10

    A Florida man was sentenced yesterday to 48 months in prison and ordered to forfeit more than $5.5 million to the United States as well as forfeit numerous real properties and cash, and to pay over $55 million in restitution for conspiracy to commit wire fraud, conspiracy to defraud the United States and willful violation of a workplace standard that resulted in the death of his employee. Manual Domingos Pita, of Wesley Chapel, previously pleaded guilty to those charges on July 9, 2024.

    According to court documents, Pita owned and operated Domingos 54 Construction, a subcontracting business for the wood framing of new construction homes. Domingos 54 was a shell construction company that Pita used to provide workers, including undocumented aliens, with construction jobs. However, Pita failed to secure the required workers compensation insurance coverage for these employees by falsifying in worker’s compensation insurance applications the number of workers for which he sought coverage. In addition, Pita failed to pay any federal employment taxes on the wages that these workers earned during the course of the scheme between 2018 and 2022. As a result, Pita caused several worker’s compensation insurance companies to sustain a loss of over $22.7 million in premiums that they could have charged had they been aware of the number of workers which they had been manipulated into covering with their policies. In addition, Pita failed to pay to the IRS over $33.7 million in federal employment taxes on those workers’ wages.

    Between February and July 2019, investigators with the Occupational Safety and Health Administration (OSHA) issued six citations to Domingos 54 for failure to provide fall protection to workers. Even after being cited for these violations, Pita continued to ignore OSHA requirements. In March 2020, Pita assigned a worker and three other carpenters to install sheeting on the roof of a residential home in windy conditions without providing the required fall-protection gear or ensuring its use. As a result, one of the workers was blown off the roof and died from his injuries.

    “Pita’s history of OSHA violations and deception tragically led to a worker’s death,” said Principal Deputy Assistant Attorney General Adam Gustafson of the Justice Department’s Environment and Natural Resources Division. “We are committed to upholding the rule of law by prosecuting fraud and enforcing worker safety standards.”

    “The defendant in this case engaged in a deliberate scheme to defraud insurance companies, the government and evade taxes, resulting in huge losses to the U.S. Treasury, and to personally enrich himself,” said Acting U.S. Attorney for the Middle District of Florida Sara C. Sweeney. “In addition, flagrant violations of OSHA safety standards put workers at unacceptable risk, ultimately resulting in the death of an employee. My office is committed to federally prosecuting and holding accountable anyone who violates these laws and regulations.”

    “Mr. Pita repeatedly violated the longstanding policies designed to protect the workforce which resulted in a tragic death,” said Special Agent in Charge Matthew Fodor of the FBI’s Tampa Field Office. “The FBI and its partners will aggressively pursue those who selfishly ignore the laws and policies in place to protect America’s workforce.”

    “Not only does this type of scheme give an illegal advantage over honest competitors, it intends to allow the use of illegal, undocumented labor to achieve that advantage,” said Special Agent in Charge Ron Loecker of IRS Criminal Investigation’s Tampa Field Office. “It’s a blatant form of cheating that undercuts fair competition, costs the government millions of dollars in tax revenue, and skirts our nation’s immigration laws. This case reaffirms our unwavering commitment to prosecuting those who engage in fraud at the expense of workers, taxpayers, and law-abiding businesses.”

    The FBI, IRS Criminal Investigation, Homeland Security Investigations, Florida Department of Financial Services’ Bureau of Insurance Fraud-Criminal Investigations and the Department of Labor’s Office of Inspector General investigated the case.

    Assistant U.S. Attorney Jay L. Hoffer for the Middle District of Florida and Senior Trial Attorney Banumathi Rangarajan of the Environment and Natural Resources Division’s Environmental Crimes Section prosecuted the case.

    MIL Security OSI –

    February 21, 2025
  • MIL-OSI: Federal Home Loan Bank of San Francisco Announces Annual and Fourth Quarter 2024 Operating Results

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, Feb. 20, 2025 (GLOBE NEWSWIRE) — The Federal Home Loan Bank of San Francisco (Bank) today announced its unaudited annual and fourth quarter 2024 operating results.

    • Net income for the full year of 2024 totaled $402 million.
    • Net income for the fourth quarter of 2024 was $90 million.
    • In 2024, the Bank allocated $93 million to its Affordable Housing Program (AHP) and voluntary housing and community development initiatives.

    “The Federal Home Loan Bank of San Francisco continues to be a vital force for economic growth and stability across our three-state region, providing steadfast support to our members and communities in all market conditions,” said Joseph E. Amato, interim president and chief executive officer of the Bank. “Throughout 2024, we delivered on-demand, low-cost liquidity to our members, empowering them to strengthen local economies and support community lending. Our collaboration with members to drive impactful affordable housing and economic development projects through our grant programs reflects our unwavering commitment to addressing housing affordability and enhancing the financial well-being of the communities we serve. Furthermore, our Bank responds to the urgent needs of our communities including those created by natural disasters. We recently committed $2 million to aid wildfire recovery efforts in Southern California, comprised of $1.4 million in matching funds from member financial institutions for local relief organizations, and $600 thousand in donations for nonprofit organizations to bolster both immediate and long-term disaster response efforts. Together with our members, we will ensure our communities have the resources needed to recover from these devastating wildfires.”

    Financial Results

    Net income for 2024 was $402 million, a decrease of $137 million compared with 2023. The decrease was primarily attributable to a decrease in net interest income of $219 million and an increase in other expense of $19 million, partially offset by an increase in other income of $86 million.

    • The $219 million decrease in net interest income was attributable to lower average balances of advances and short-term investments and higher costs of interest-bearing liabilities. The decrease was also attributable to $106 million of higher net advance prepayment fees in the prior year. These decreases to net interest income were partially offset by lower average balances of consolidated obligation bonds and discount notes, an increase in the average balances of available-for-sale securities, and higher yields on interest-earning assets.
    • The $86 million increase in other income was primarily driven by $33 million in net realized losses recognized in the prior year from derivatives economically hedging prepaid advances, along with $30 million of other income recognized in 2024 in connection with the termination of a long-term funding arrangement entered into with a member borrower in 2017.
    • The $19 million increase in other expense was attributable to a $25 million increase in the Bank’s charitable, “mission-oriented” contributions in the current year, mainly to fund downpayment assistance grants to middle-income homebuyers (delivered by participating member financial institutions).

    For the fourth quarter of 2024, net income was $90 million, a decrease of $30 million compared to the same period during the prior year. This decrease was primarily attributable to a decrease in net interest income of $14 million, mainly driven by lower average balances of advances and short-term investments. The decrease in net income was also attributable to an $8 million increase in the Bank’s charitable, “mission-oriented” contributions relative to the prior-year period, mainly to fund the Access to Housing and Economic Assistance for Development (AHEAD) Program. Additionally, the provision for credit losses increased by $8 million which was largely attributable to decreases in the fair values and the present value of expected cash flows of certain private-label residential mortgage-backed securities.

    Balance Sheet and Capital

    At December 31, 2024, total assets were $81.7 billion, a decrease of $11.1 billion from $92.8 billion at December 31, 2023. This decline was primarily driven by a reduction in advances of $15.7 billion, from $61.3 billion at December 31, 2023, to $45.6 billion at December 31, 2024. Advances declined primarily due to maturities of advances acquired by nonmembers in connection with certain Bank member acquisitions. Investments at December 31, 2024, were $35.0 billion, a net increase of $4.7 billion from $30.3 billion at December 31, 2023, attributable to net purchases of $2.7 billion in short-term investments and $2.0 billion in U.S. Treasury securities.

    As of December 31, 2024, the Bank exceeded all regulatory capital requirements. The Bank exceeded its 4.0% regulatory requirement with a regulatory capital ratio of 8.9% at December 31, 2024. The increase in the regulatory capital ratio from 8.0% at December 31, 2023 mainly resulted from the decrease in total assets during 2024. The Bank also exceeded its risk-based capital requirement of $1.1 billion with $7.3 billion in permanent capital. Total retained earnings increased to $4.5 billion at December 31, 2024, from $4.3 billion at December 31, 2023.

    On February 19, 2025, the Bank’s board of directors declared a quarterly cash dividend on the average capital stock outstanding during the fourth quarter of 2024 at an annualized rate of 8.75%. The quarterly dividend rate is consistent with the Bank’s dividend philosophy of endeavoring to pay a quarterly dividend rate that is equal to or greater than the current market rate for highly rated investments and that is sustainable under current and projected earnings while maintaining appropriate levels of capital. The quarterly dividend will total $63 million, and the Bank expects to pay the dividend on March 11, 2025.

    Affordable Housing Program and Voluntary Housing and Community Commitments

    The Bank’s community programs and targeted initiatives address the unique affordable housing and economic development needs of communities across its district of Arizona, California, and Nevada. The AHP is an annual statutory grant program that supports the creation, preservation, or purchase of affordable housing and is funded with 10% of the Bank’s previous year’s net income. Since its inception in 1990, the Bank awarded over $1.35 billion in grants to aid the purchase, development, or rehabilitation of over 154,600 affordable homes in the regions the Bank’s members serve.

    In addition, early in 2024, the Bank’s board of directors approved plans to voluntarily allocate an additional 5% of its 2023 annual net earnings (income before interest expense related to dividends paid on mandatorily redeemable capital stock and the assessment for the AHP) to fund affordable housing and economic development initiatives.

    To meet these commitments, the Bank recorded a total allocation of $93 million in 2024, an increase of $14 million compared to 2023. The $93 million allocation included $52 million related to the statutory AHP program and $41 million related to voluntary housing and economic development initiatives. The Bank’s voluntary contributions were disbursed through multiple initiatives during 2024, including, but not limited to:

    • $20 million in downpayment assistance grants delivered by Bank members to over 400 homebuyers,
    • $7 million awarded to 84 organizations across Arizona, California, and Nevada through the AHEAD Program,
    • $2 million benefiting Native American communities for essential infrastructure and affordable housing development, and
    • $1 million delivered through a targeted matching grant program distributed across 45 grants for local housing counseling agencies to expand homeownership opportunities for low- to moderate-income prospective homebuyers.

    Financial Highlights
    (Unaudited)
    (Dollars in millions)

    Selected Balance Sheet Items
      at Period End
      Dec 31, 2024     Dec 31, 2023  
    Total Assets $ 81,735     $ 92,828  
    Advances   45,637       61,335  
    Mortgage Loans Held for Portfolio, Net   693       754  
    Investments, Net1   34,961       30,294  
    Consolidated Obligations:      
    Bonds   58,174       64,297  
    Discount Notes   14,378       19,187  
    Mandatorily Redeemable Capital Stock   331       706  
    Capital Stock – Class B – Putable   2,458       2,450  
    Retained Earnings   4,483       4,290  
    Accumulated Other Comprehensive Income/(Loss)   63       (72 )
    Total Capital   7,004       6,668  
           
    Selected Other Data at Period End   Dec 31, 2024       Dec 31, 2023  
    Regulatory Capital Ratio2   8.90 %     8.02 %
      Three Months Ended   Twelve Months Ended  
    Selected Operating Results for the Period Dec 31, 2024     Dec 31, 2023   Dec 31, 2024   Dec 31, 2023  
    Net Interest Income $ 148   $ 162   $ 580   $ 799  
    Provision for/(Reversal of) Credit Losses   5     (3)     —     4  
    Other Income/(Loss)   15     22     93     7  
    Other Expense   57     52     219     200  
    Affordable Housing Program Assessment   11     15     52     63  
    Net Income/(Loss) $ 90   $ 120   $ 402   $ 539  
                     
      Three Months Ended   Twelve Months Ended  
    Selected Other Data for the Period Dec 31, 2024     Dec 31, 2023   Dec 31, 2024   Dec 31, 2023  
    Net Interest Margin3   0.72 %   0.72 %   0.69 %   0.71 %
    Return on Average Assets   0.43     0.52     0.47     0.47  
    Return on Average Equity   5.15     7.29     5.89     7.60  
    Annualized Dividend Rate4   8.75     8.25     8.75     7.49  
    Average Equity to Average Assets Ratio   8.36     7.15     8.02     6.23  
     
    1. Investments consist of federal funds sold, interest-bearing deposits, trading securities, available-for-sale securities, held-to-maturity securities, and securities purchased under agreements to resell.
    2. The regulatory capital ratio is calculated as regulatory capital divided by total assets. Regulatory capital includes retained earnings, Class B capital stock, and mandatorily redeemable capital stock (which is classified as a liability) but excludes accumulated other comprehensive income/(loss). Total regulatory capital as of December 31, 2024, and 2023, was $7.3 billion and $7.4 billion, respectively.
    3. Net interest margin is calculated as net interest income (annualized) divided by average interest-earning assets.
    4. Cash dividends are declared, recorded, and paid during the period, on the average capital stock outstanding during the previous quarter.
     

    Federal Home Loan Bank of San Francisco
    The Federal Home Loan Bank of San Francisco is a member-driven cooperative helping local lenders in Arizona, California, and Nevada build strong communities, create opportunity, and change lives for the better. The tools and resources we provide to our member financial institutions–commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions propel homeownership, finance affordable housing, drive economic vitality, and revitalize whole neighborhoods. Together with our members and other partners, we are making the communities we serve more vibrant, equitable, and resilient.

    Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
    This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including statements related to the Bank’s dividend philosophy and dividend rates. These statements are based on our current expectations and speak only as of the date hereof. These statements may use forward-looking terms, such as “endeavoring,” “will,” and “expects,” or their negatives or other variations on these terms. The Bank cautions that by their nature, forward-looking statements involve risk or uncertainty and that actual results could differ materially from those expressed or implied in these forward-looking statements or could affect the extent to which a particular objective, projection, estimate, or prediction is realized, including future dividends. These forward-looking statements involve risks and uncertainties including, but not limited to, the Risk Factors set forth in our Annual Report on Form 10-K and other periodic and current reports that we may file with the Securities and Exchange Commission, as well as regulatory and accounting rule adjustments or requirements; the application of accounting standards relating to, among other things, hedge accounting of derivatives and underlying financial instruments, along with related fair values; future operating results; the withdrawal of one or more large members; high inflation and interest rates that may adversely affect our members and their customers; and our ability to pay a quarterly dividend rate that is equal to or greater than similar current rates for highly rated investments. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.

    The MIL Network –

    February 21, 2025
  • MIL-OSI Russia: IMF Executive Board Concludes 2024 Article IV Consultation with Thailand

    Source: IMF – News in Russian

    February 20, 2025

    Washington, DC: On February 11, The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation[1] with Thailand and endorsed the staff appraisal without a meeting on a lapse-of-time basis.

    Thailand’s economy is gradually recovering, but at a slower pace than peers. Economic activity expanded modestly by 1.9 percent in 2023 and 2.3 percent in the first three quarters of 2024, driven by private consumption growth and a rebound in tourism. Inflation remained subdued, averaging 0.4 percent (y/y) annually in 2024, well below the Bank of Thailand’s target range of 1 to 3 percent. External factors such as the decline in global energy and food prices, lower import prices have played a role, but domestic factors such as energy subsidies, price controls, and the unwinding of pandemic-related fiscal support have also contributed to the lower inflation. The current account balance strengthened to 1.4 percent of GDP in 2023, from -3.5 percent of GDP in 2022, and continues to register a moderate surplus as of November 2024, supported by the continued recovery in tourism and higher exports.

    A gradual cyclical recovery is expected to continue. Real GDP is projected to grow by 2.7 percent in 2024 and to increase to 2.9 percent in 2025. This is underpinned by the expansionary fiscal stance envisaged under the 2025 budget, which includes additional cash transfers of 1.0 percent of GDP and a rebound in public investment. Tourism-related sectors are expected to continue to support growth, as well as private consumption that will be further boosted by the authorities’ cash transfers. As growth continues to firm up, inflation is expected to pick up but remain in the bottom half of the target range in 2025. The current account balance is expected to improve further in 2024 and 2025, driven by the ongoing recovery in tourist arrivals.

    Risks to Thailand’s economic outlook are tilted to the downside. On the external front, an escalation of global trade tensions or deepening geoeconomic fragmentation could disrupt Thailand’s export recovery and dampen FDI inflows, while increased commodity price volatility could affect growth and lead to inflation spikes, and potentially tighter-for-longer global financial conditions. The intensification of regional conflicts could disrupt trade and travel flows while more frequent extreme climate events would adversely impact growth prospects. On the domestic front, the private sector debt overhang could impair financial institutions’ balance sheets and further decrease credit supply, negatively affecting growth. Renewed political uncertainty could hinder policy implementation and undermine confidence.

    Executive Board Assessment[2]

    In concluding the 2024 Article IV consultation with Thailand, Executive Directors endorsed the staff’s appraisal, as follows:

    Thailand’s economic recovery is ongoing, but it has been relatively slow and uneven. Economic activity expanded modestly in 2024, driven by private consumption and a rebound in tourism-related activities, while delayed budget implementation slowed the pace of public investment. The slow recovery, compared to ASEAN peers, is also rooted in Thailand’s longstanding structural weaknesses, while emerging external and domestic headwinds have also contributed to subdued inflation. The outlook remains highly uncertain with significant downside risks.

    As economic slack narrows, the focus should shift to rebuilding fiscal space. A less expansionary fiscal stance than envisaged under the FY25 budget would still provide impulse to support the recovery while helping to preserve policy space. Alternatively, reallocating part of the planned cash transfers toward productivity-enhancing investments or social protection would enable stronger inclusive growth and help reduce the public debt-to-GDP ratio. Starting in FY26, a revenue-based medium-term fiscal consolidation is needed to bring down public debt and rebuild buffers.

    Thailand’s fiscal framework can be further strengthened. This would require strengthening fiscal rules to better support the debt anchor by introducing a risk-based rules approach. Costs associated with quasi-fiscal operations such as energy price caps should be adequately accounted for, and fiscal risks closely monitored. Improving data provision for government finance statistics and SOEs is important.

    Staff welcomes the BOT’s decision to cut the policy rate in October and recommends a further reduction in the policy rate to support inflation and also translate into improvements in borrowers’ debt-servicing capacity with limited risk of additional leverage amid tight lending. Given remaining high uncertainty in the outlook, the authorities should stand ready to adjust their monetary policy stance in a data and outlook-dependent manner. Central bank independence with clear communication of policy moves is key to maintaining the credibility and effectiveness of monetary policy in anchoring inflation expectations.

    Effective coordination across policy tools, underpinned by adequate buffers, is essential for managing adverse scenarios. While the flexible exchange rate should continue to act as a shock absorber, the complementary use of FXI might alleviate policy trade-offs by smoothing destabilizing premia when large non-fundamental shocks render the FX market dysfunctional. Further liberalization of the FX ecosystem and phasing out of remaining capital flow management measures would help deepen the FX market and limit the need for FXI over time.

    A comprehensive package of prudential and legal measures needs to be deployed to facilitate an orderly private deleveraging. Staff welcomes the measures already implemented to address both the existing household debt stock and the buildup of new leverage. However, simultaneous and forceful implementation of personal debt workouts via more effective bankruptcy proceedings is essential to lower the existing household debt stock.

    The external position in 2024 was moderately stronger than warranted by fundamentals and desirable policy settings. Policies aimed at promoting investment, enhancing social safety nets, liberalizing the services sector, and minimizing tax incentives and subsidies that distort competition would facilitate external rebalancing.

    Resolute structural reforms are needed to boost productivity and competitiveness. Reform priorities include facilitating competition and openness, upgrading physical and ICT infrastructure, upskilling/reskilling the labor force, increasing export sophistication by leveraging digitalization, and strengthening governance. Providing an adequate social protection floor to vulnerable households could help enhance their resilience to shocks and address structural drivers of household debt accumulation.

    Table 1. Thailand: Selected Economic Indicators, 2019–30

    Per capita GDP (2023): US$7,338

    Exchange Rate (2023): 34.8 Baht/USD

    Unemployment rate (2023): 1 percent

    Poverty headcount ratio at national poverty line (2021): 6.3 percent

    Net FDI (2023): US$ -7.16 billion

    Population (2023): 70.18 million

                       

    Actual

    Projections

    2019

    2020

    2021

    2022

    2023

    2024

    2025

    2026

    2027

    2028

    2029

    2030

    Real GDP growth (y/y percent change) 1/

    2.1

    -6.1

    1.6

    2.5

    1.9

    2.7

    2.9

    2.6

    2.7

    2.7

    2.7

    2.7

    Consumption

    3.4

    -0.3

    1.3

    4.8

    4.6

    4.3

    4.0

    2.9

    2.1

    2.3

    2.6

    2.6

    Gross fixed investment

    2.0

    -4.8

    3.1

    2.3

    1.2

    0.1

    4.1

    2.1

    1.8

    2.3

    2.4

    2.5

    Inflation (y/y percent change)

                           

    Headline CPI (end of period)

    0.9

    -0.3

    2.2

    5.9

    -0.8

    1.2

    1.3

    1.5

    1.5

    1.7

    1.7

    1.8

    Headline CPI (period average)

    0.7

    -0.8

    1.2

    6.1

    1.2

    0.4

    1.0

    1.3

    1.5

    1.6

    1.7

    1.8

    Core CPI (end of period)

    0.5

    0.2

    0.3

    3.2

    0.6

    0.8

    1.3

    1.0

    1.2

    1.4

    1.4

    1.6

    Core CPI (period average)

    0.5

    0.3

    0.2

    2.5

    1.3

    0.6

    1.1

    1.2

    1.1

    1.3

    1.4

    1.5

    Saving and investment (percent of GDP)

                           

    Gross domestic investment

    23.8

    23.8

    28.6

    27.8

    22.5

    20.8

    21.9

    22.2

    22.0

    21.8

    21.8

    21.6

    Private

    16.9

    16.8

    16.9

    17.3

    17.3

    16.7

    16.6

    16.4

    16.3

    16.1

    16.1

    16.0

    Public

    5.7

    6.4

    6.5

    6.1

    5.6

    5.6

    5.9

    5.8

    5.7

    5.7

    5.7

    5.7

    Change in stocks

    1.2

    0.5

    5.1

    4.5

    -0.4

    -1.5

    -0.6

    0.0

    0.0

    0.0

    0.0

    0.0

    Gross national saving

    30.8

    27.9

    26.5

    24.4

    24.0

    22.6

    24.0

    24.5

    24.4

    24.4

    24.5

    24.4

    Private, including statistical discrepancy

    25.8

    26.2

    26.8

    22.6

    21.0

    19.8

    21.8

    21.9

    21.7

    21.7

    21.8

    21.6

    Public

    5.0

    1.8

    -0.3

    1.7

    3.0

    2.8

    2.2

    2.5

    2.7

    2.7

    2.7

    2.8

    Foreign saving

    -7.0

    -4.2

    2.1

    3.5

    -1.4

    -1.8

    -2.2

    -2.3

    -2.4

    -2.6

    -2.7

    -2.8

    Fiscal accounts (percent of GDP) 2/

                           

    General government balance 3/

    0.4

    -4.5

    -6.7

    -4.5

    -2.0

    -2.2

    -3.6

    -3.2

    -2.9

    -2.8

    -2.8

    -2.8

      SOEs balance

    0.4

    0.6

    -0.3

    -0.6

    -0.7

    -0.1

    -0.2

    -0.1

    -0.1

    -0.1

    -0.1

    0.0

    Public sector balance 4/

    0.8

    -3.9

    -7.1

    -5.1

    -2.7

    -2.3

    -3.8

    -3.3

    -3.0

    -2.9

    -2.9

    -2.8

    Public sector debt (end of period) 4/

    41.1

    49.4

    58.3

    60.5

    62.4

    63.3

    64.7

    65.4

    66.0

    66.1

    66.4

    66.4

    Monetary accounts (end of period, y/y percent change)

               

    Broad money growth

    3.6

    10.2

    4.8

    3.9

    1.9

    2.3

    3.7

    3.5

    3.2

    3.8

    3.2

    3.7

    Narrow money growth

    5.7

    14.2

    14.0

    3.1

    4.2

    5.9

    3.2

    4.7

    4.2

    5.1

    4.3

    4.9

    Credit to the private sector (by other depository corporations)

    2.4

    4.5

    4.5

    2.5

    1.5

    0.1

    1.0

    1.6

    1.8

    2.1

    2.3

    2.5

    Balance of payments (billions of U.S. dollars)

                           

    Current account balance

    38.3

    20.9

    -10.7

    -17.2

    7.4

    9.5

    11.9

    13.2

    14.6

    16.5

    18.2

    19.4

    (In percent of GDP)

    7.0

    4.2

    -2.1

    -3.5

    1.4

    1.8

    2.2

    2.3

    2.4

    2.6

    2.7

    2.8

    Exports of goods, f.o.b.

    242.7

    227.0

    270.6

    285.2

    280.7

    293.6

    301.8

    312.5

    327.2

    343.1

    359.0

    375.5

    Growth rate (dollar terms)

    -3.3

    -6.5

    19.2

    5.4

    -1.5

    4.6

    2.8

    3.6

    4.7

    4.9

    4.6

    4.6

            Growth rate (volume terms)

    -3.7

    -5.8

    15.4

    1.2

    -2.7

    2.1

    1.9

    2.7

    3.5

    3.6

    3.2

    3.2

    Imports of goods, f.o.b.

    216.0

    186.6

    238.6

    271.6

    261.4

    274.9

    284.6

    295.1

    309.1

    324.1

    339.1

    354.9

    Growth rate (dollar terms)

    -5.6

    -13.6

    27.9

    13.8

    -3.8

    5.2

    3.5

    3.7

    4.7

    4.9

    4.6

    4.7

            Growth rate (volume terms)

    -5.8

    -10.4

    18.0

    1.0

    -4.1

    3.7

    3.5

    3.3

    3.4

    3.3

    3.3

    3.3

    Capital and financial account balance 5/

    -24.7

    -2.6

    3.6

    6.9

    -4.9

    -9.5

    -11.9

    -13.2

    -14.6

    -16.5

    -18.2

    -19.4

    Overall balance

    13.6

    18.4

    -7.1

    -10.2

    2.6

    0.0

    0.0

    0.0

    0.0

    0.0

    0.0

    0.0

    Gross official reserves (including net forward position, end of period) (billions of U.S. dollars)

    259.0

    286.5

    279.2

    245.8

    254.6

    262.5

    262.5

    262.5

    262.5

    262.5

    262.5

    262.5

    (Months of following year’s imports)

    16.7

    14.4

    12.3

    11.3

    11.1

    11.1

    10.7

    10.2

    9.7

    9.3

    8.9

    8.5

    (Percent of short-term debt) 6/

    338.0

    315.3

    291.2

    236.3

    242.7

    239.6

    231.7

    222.5

    213.7

    206.2

    199.6

    252.3

    (Percent of ARA metric)

    252.5

    278.3

    263.3

    222.3

    233.2

    231.8

    226.4

    219.2

    212.3

    205.4

    199.3

    200.0

    Exchange rate (baht/U.S. dollar)

    31.0

    31.3

    32.0

    35.1

    34.8

    35.3

    …

    …

    …

    …

    …

    …

    NEER appreciation (annual average)

    7.2

    -0.3

    -4.5

    -1.8

    3.9

    …

    …

    …

    …

    …

    …

    …

    REER appreciation (annual average)

    5.8

    -2.6

    -5.7

    -1.1

    1.2

    …

    …

    …

    …

    …

    …

    …

    External debt

                           

    (In percent of GDP)

    31.7

    38.0

    38.9

    40.6

    38.2

    38.4

    38.5

    38.6

    38.7

    38.7

    38.8

    38.8

    (In billions of U.S. dollars)

    172.7

    190.1

    196.9

    201.4

    196.5

    202.4

    213.1

    223.8

    233.8

    245.9

    257.0

    270.0

    Public sector 7/

    38.0

    37.2

    41.5

    41.2

    35.8

    38.4

    40.8

    43.3

    45.6

    48.1

    50.8

    53.7

    Private sector

    134.0

    152.9

    155.4

    160.3

    160.7

    164.5

    172.9

    181.1

    188.8

    198.3

    206.8

    217.0

    Medium- and long-term

    74.6

    79.4

    82.3

    82.3

    80.3

    80.7

    86.5

    91.1

    95.3

    101.5

    107.1

    114.0

    Short-term (including portfolio flows)

    59.4

    73.5

    73.1

    78.0

    80.4

    83.8

    86.4

    90.0

    93.5

    96.8

    99.7

    103.0

    Debt service ratio 8/

    7.8

    7.5

    6.3

    7.3

    7.9

    7.8

    7.8

    7.3

    8.3

    9.3

    10.3

    10.3

    Memorandum items:

                           

    Nominal GDP (billions of baht)

    16889.2

    15661.3

    16188.6

    17378.0

    17922.0

    18603.0

    19371.2

    20282.2

    21143.0

    22211.7

    23164.5

    24307.8

    (In billions of U.S. dollars)

    544.0

    500.5

    506.3

    495.6

    515.0

    527.1

    553.9

    580.2

    604.8

    635.4

    662.7

    695.4

    Output Gap (in percent of potential output)

    0.2

    -4.2

    -4.1

    -2.0

    -1.5

    -0.7

    0.0

    0.1

    0.0

    0.0

    0.0

    0.0

    Sources: Thai authorities; CEIC Data Co. Ltd.; and IMF staff estimates and projections.

    1/ This series reflects the new GDP data based on the chain volume measure methodology, introduced by the Thai authorities in May 2015.

    2/ On a fiscal year basis. The fiscal year ends on September 30.

    3/ Includes budgetary central government, extrabudgetary funds, and local governments.

    4/ Includes general government and SOEs.

    5/ Includes errors and omissions.

    6/ With remaining maturity of one year or less.

    7/ Excludes debt of state enterprises.

    8/ Percent of exports of goods and services.

                                                             

    [1] Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country’s economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board.

    [2] The Executive Board takes decisions under its lapse-of-time procedure when the Board agrees that a proposal can be considered without convening formal discussions.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Pavis Devahasadin

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    @IMFSpokesperson

    https://www.imf.org/en/News/Articles/2025/02/20/pr25040-thailand-imf-executive-board-concludes-2024-article-iv-consultation-with-thailand

    MIL OSI

    MIL OSI Russia News –

    February 21, 2025
  • MIL-OSI Security: A Secret in South Philly

    Source: Federal Bureau of Investigation (FBI) State Crime Alerts (c)

    Asking a community to come forward

    Investigators are confident that the same tightknit South Philly community that raised Richard—and served as a partial backdrop to his love story with Danielle—is keeping the secret of what happened to the couple.

    “The city of Philadelphia is more like a town than a city,” Blessington explained. “Everybody knows everybody. Everybody kind of looks out for everybody.”

    While some area residents have shared information with the FBI, Blessington said, others may be worried about being seen as traitors to their community. But as the what-ifs of the case continue to haunt the victims’ families into a third decade, investigators ask that potential tipsters come out of hiding.

    “…What I can tell those people—and there are people who know things—[is]: If we only do one thing very, very well, we protect the people that are brave enough and try and help us out,” Blessington said. 

    You can learn more about Danielle and Rich, as well as view their pictures, at fbi.gov/missing.

    Investigators encourage anyone with information about the whereabouts of Danielle, Richard, and/or his truck—a black 2001 Dodge Dakota with Pennsylvania license plates YFH 2319—to call the FBI Philadelphia Field Office directly at 215-418-4000. The FBI is offering a reward of up to $15,000 for information leading to the arrest and conviction of anyone involved in the disappearance of Danielle Imbo and Richard Petrone.

    And the case team can help potential tipsters work through any concerns, navigate difficult emotions, and work through different legalities related to coming forward.

    “After 20 years, we really need to bring Rich and Danielle home,” Blessington said.

    MIL Security OSI –

    February 21, 2025
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