David Caygill
Encyclopedia
David Caygill, CBE
(born 1948) is a former New Zealand politician. After being New Zealand's youngest city councillor at 22 (in Christchurch), he was an MP from 1978
to 1996
, representing the Labour Party
. He served as Minister of Finance
between 1988 and 1990.
from 1971 to 1980.
as MP for the Christchurch electorate of St Albans
. He served for six terms.
was formed after the 1984 elections
, Caygill aligned himself with Roger Douglas
, the controversial Minister of Finance
. Douglas, Caygill, and Richard Prebble
were together dubbed "the Troika", and were responsible for most of the economic reform undertaken by the Labour
government. The "Rogernomics
" reforms, which were based on free market
economic theory, were unpopular with many traditional Labour
supporters, but Caygill managed to avoid the worst of the condemnation directed towards Douglas and Prebble. When the two became founding members of the ACT New Zealand political party in 1994, Caygill chose not to join them.
Caygill was appointed Minister of Trade and Industry, and Minister of National Development, on 26 July 1984. The Prime Minister
at that time was David Lange
.
in his place. After Lange himself had resigned, Caygill retained his position under both Geoffrey Palmer and Mike Moore, Lange's short-lived successors as Prime Minister.
In his last budget as Minister of Finance before retiring, Caygill lifted the quarantining of rental losses on investment property, allowing an investor to offset losses on their investment property against their other taxable income.
In 1991, a year after the Labour Party had lost office, Caygill was replaced as finance spokesperson by Michael Cullen, who was more moderate in his economic policies. Caygill continued to hold a senior position in the Labour Party, however, and when Helen Clark
became leader in 1993, Caygill replaced her as deputy leader. At the 1996 elections
, Caygill retired from Parliament
. He was replaced as deputy leader by Michael Cullen.
. He chaired a ministerial inquiry into the New Zealand electricity market
in 2000, and was appointed chairman of the Electricity Commission
in 2007. He is a board member of the Energy Efficiency and Conservation Authority
. He is the chair of the Education New Zealand Trust.
In 2010, Caygill was appointed by the National Government
as one of the commissioners at Environment Canterbury. He holds the role of deputy chair.
Order of the British Empire
The Most Excellent Order of the British Empire is an order of chivalry established on 4 June 1917 by George V of the United Kingdom. The Order comprises five classes in civil and military divisions...
(born 1948) is a former New Zealand politician. After being New Zealand's youngest city councillor at 22 (in Christchurch), he was an MP from 1978
New Zealand general election, 1978
The 1978 New Zealand general election was a nationwide vote to elect the 39th New Zealand Parliament. It saw the governing National Party, led by Robert Muldoon, retain office, although the opposition Labour Party managed to win the largest share of the vote...
to 1996
New Zealand general election, 1996
The 1996 New Zealand general election was held on 12 October 1996 to determine the composition of the 45th New Zealand Parliament. It was notable for being the first election to be held under the new Mixed Member Proportional electoral system, and produced a parliament considerably more diverse...
, representing the Labour Party
New Zealand Labour Party
The New Zealand Labour Party is a New Zealand political party. It describes itself as centre-left and socially progressive and has been one of the two primary parties of New Zealand politics since 1935....
. He served as Minister of Finance
Minister of Finance (New Zealand)
The Minister of Finance is a senior figure within the government of New Zealand. The position is often considered to be the most important Cabinet role after that of the Prime Minister....
between 1988 and 1990.
Christchurch City Council
Caygill was a councillor of Christchurch City CouncilChristchurch City Council
The Christchurch City Council is the local government authority for Christchurch in New Zealand. It is a territorial authority elected to represent the people of Christchurch. Since 2007, the Mayor of Christchurch is Bob Parker, who stood as an independent candidate...
from 1971 to 1980.
Member of Parliament
Caygill was first elected to Parliament in the 1978 electionsNew Zealand general election, 1978
The 1978 New Zealand general election was a nationwide vote to elect the 39th New Zealand Parliament. It saw the governing National Party, led by Robert Muldoon, retain office, although the opposition Labour Party managed to win the largest share of the vote...
as MP for the Christchurch electorate of St Albans
St Albans (New Zealand electorate)
St Albans was a parliamentary electorate in Christchurch, New Zealand from 1881 to 1890, then from 1946 to 1996.-Population centres:The electorate was centred on the Christchurch suburb of St Albans.-History:...
. He served for six terms.
Lange Ministry
When the Fourth Labour GovernmentFourth Labour Government of New Zealand
The Fourth Labour Government of New Zealand was the government of New Zealand from 26 July 1984 to 2 November 1990. It enacted major social and economic reforms, including reformation of the tax system. The economic reforms were known as Rogernomics after Finance Minister Roger Douglas...
was formed after the 1984 elections
New Zealand general election, 1984
The 1984 New Zealand general election was a nationwide vote to determine the shape of the 41st New Zealand Parliament. It marked the beginning of the Fourth Labour Government, with David Lange's Labour Party defeating long-serving Prime Minister Robert Muldoon of the National Party. It was also the...
, Caygill aligned himself with Roger Douglas
Roger Douglas
Sir Roger Owen Douglas , is a New Zealand politician who formerly served as a senior New Zealand Labour Party Cabinet minister. He became arguably best-known for his prominent role in the radical economic restructuring undertaken by the Fourth Labour Government during the 1980s...
, the controversial Minister of Finance
Minister of Finance (New Zealand)
The Minister of Finance is a senior figure within the government of New Zealand. The position is often considered to be the most important Cabinet role after that of the Prime Minister....
. Douglas, Caygill, and Richard Prebble
Richard Prebble
Richard William Prebble CBE, born 7 February 1948, was for many years a member of the New Zealand Parliament. Initially a member of the Labour Party, he joined the newly formed ACT New Zealand party under Roger Douglas in 1996.-Early and personal life:...
were together dubbed "the Troika", and were responsible for most of the economic reform undertaken by the Labour
New Zealand Labour Party
The New Zealand Labour Party is a New Zealand political party. It describes itself as centre-left and socially progressive and has been one of the two primary parties of New Zealand politics since 1935....
government. The "Rogernomics
Rogernomics
The term Rogernomics, a portmanteau of "Roger" and "economics", was coined by journalists at the New Zealand Listener by analogy with Reaganomics to describe the economic policies followed by Roger Douglas after his appointment in 1984 as Minister of Finance in the Fourth Labour Government...
" reforms, which were based on free market
Free market
A free market is a competitive market where prices are determined by supply and demand. However, the term is also commonly used for markets in which economic intervention and regulation by the state is limited to tax collection, and enforcement of private ownership and contracts...
economic theory, were unpopular with many traditional Labour
New Zealand Labour Party
The New Zealand Labour Party is a New Zealand political party. It describes itself as centre-left and socially progressive and has been one of the two primary parties of New Zealand politics since 1935....
supporters, but Caygill managed to avoid the worst of the condemnation directed towards Douglas and Prebble. When the two became founding members of the ACT New Zealand political party in 1994, Caygill chose not to join them.
Caygill was appointed Minister of Trade and Industry, and Minister of National Development, on 26 July 1984. The Prime Minister
Prime Minister of New Zealand
The Prime Minister of New Zealand is New Zealand's head of government consequent on being the leader of the party or coalition with majority support in the Parliament of New Zealand...
at that time was David Lange
David Lange
David Russell Lange, ONZ, CH , served as the 32nd Prime Minister of New Zealand from 1984 to 1989. He headed New Zealand's fourth Labour Government, one of the most reforming administrations in his country's history, but one which did not always conform to traditional expectations of a...
.
Minister of Finance
When Douglas was fired by Prime Minister Lange, Caygill was appointed Minister of FinanceMinister of Finance (New Zealand)
The Minister of Finance is a senior figure within the government of New Zealand. The position is often considered to be the most important Cabinet role after that of the Prime Minister....
in his place. After Lange himself had resigned, Caygill retained his position under both Geoffrey Palmer and Mike Moore, Lange's short-lived successors as Prime Minister.
In his last budget as Minister of Finance before retiring, Caygill lifted the quarantining of rental losses on investment property, allowing an investor to offset losses on their investment property against their other taxable income.
In 1991, a year after the Labour Party had lost office, Caygill was replaced as finance spokesperson by Michael Cullen, who was more moderate in his economic policies. Caygill continued to hold a senior position in the Labour Party, however, and when Helen Clark
Helen Clark
Helen Elizabeth Clark, ONZ is a New Zealand political figure who was the 37th Prime Minister of New Zealand for three consecutive terms from 1999 to 2008...
became leader in 1993, Caygill replaced her as deputy leader. At the 1996 elections
New Zealand general election, 1996
The 1996 New Zealand general election was held on 12 October 1996 to determine the composition of the 45th New Zealand Parliament. It was notable for being the first election to be held under the new Mixed Member Proportional electoral system, and produced a parliament considerably more diverse...
, Caygill retired from Parliament
Parliament of New Zealand
The Parliament of New Zealand consists of the Queen of New Zealand and the New Zealand House of Representatives and, until 1951, the New Zealand Legislative Council. The House of Representatives is often referred to as "Parliament".The House of Representatives usually consists of 120 Members of...
. He was replaced as deputy leader by Michael Cullen.
Life after politics
After leaving politics, Caygill returned to his original occupation, law. For some time, he was a partner at Buddle Findlay, a prominent law firm. He also worked for a number of government bodies, and was chair of the Accident Compensation CorporationAccident Compensation Corporation
The Accident Compensation Corporation is a New Zealand Crown entity responsible for administering the Accident Compensation Act 2001. The Act provides support to citizens, residents, and temporary visitors who have suffered personal injuries....
. He chaired a ministerial inquiry into the New Zealand electricity market
New Zealand Electricity Market
New Zealand's electricity market is regulated by the Electricity Industry Participation Code administered by the Electricity Authority . The Authority was established in November 2010 to replace the Electricity Commission and its publication explains how the market works.- Overview :Until 1987,...
in 2000, and was appointed chairman of the Electricity Commission
Electricity Commission (NZ)
The New Zealand Electricity Commission was a government authority set up in 2003 to regulate the Electricity sector in New Zealand.The Commission was established under the Electricity Act to regulate the operation of the electricity industry and markets in accordance government energy policy...
in 2007. He is a board member of the Energy Efficiency and Conservation Authority
Energy Efficiency and Conservation Authority
Energy Efficiency and Conservation Authority is a New Zealand government/crown agency responsible for promoting energy efficiency and conservation....
. He is the chair of the Education New Zealand Trust.
In 2010, Caygill was appointed by the National Government
Fifth National Government of New Zealand
The Fifth National Government of New Zealand is the current government of New Zealand. It is led by Prime Minister John Key.After the 2008 general election the National Party and its allies were able to form a government, taking over from Helen Clark's Fifth Labour Government. The National party...
as one of the commissioners at Environment Canterbury. He holds the role of deputy chair.