Finance News & Articles
New Zealand Government Boosts Crown Liquidity Facility for Local Government Financing
1 week ago | 109 viewsThe Government is increasing and extending the Crown Liquidity Facility (CLF) for the New Zealand Local Government Funding Agency Limited (LGFA) to support local government borrowing. The CLF helps LGFA secure competitively priced financing for local authorities during exceptional circumstances. The facility, established in 2011 and never used, is being raised to $3 billion and extended to June 2037 to assist in financing critical infrastructure and public services.
Tags: Government Crown Liquidity Facility New Zealand Local Government Funding Agency Limited Finance Minister Nicola Willis financing infrastructure public services Global Financial Crisis councilsNew Zealand Government Eases Climate Reporting Burden for Businesses to Boost Market Growth
2 weeks ago | 161 viewsCommerce and Consumer Affairs Minister Scott Simpson announces changes to support business growth and capital markets in New Zealand. The Government is adjusting climate reporting regulations to reduce costs and encourage listings on the NZX. Changes include raising the reporting threshold, adjusting liability settings, and excluding managed investment schemes. These adjustments aim to ensure robust reporting, maintain market competitiveness, and provide clearer information on investments for KiwiSaver and managed funds.
Tags: Government business growth capital markets climate reporting compliance costs Scott Simpson market capitalisation climate disclosures KiwiSaver investment Financial Markets Conduct Amendment BillFinance Minister Pleased with Inflation Remaining in Reserve Bank's Target Range
2 weeks ago | 144 viewsActing Finance Minister Chris Bishop welcomes latest figures showing inflation within Reserve Bank's target range, with annual CPI inflation rising from 2.7% to 3% in the year to September 2025. Expectations are for inflation to decline towards 2% in the first half of next year, easing pressure on households and businesses. Top contributors to the annual increase were electricity (up 11.3%) and local authority rates and payments (up 8.8%), emphasizing the need for increased electricity supply and competition and the impact of local government rates on New Zealanders' finances.
Tags: Chris Bishop Stats NZ Reserve Bank inflation CPI government households businesses electricity local authorityAndrew Wilson Joins Board of Guardians of NZ Super Fund
3 weeks ago | 137 viewsAndrew Wilson, a former investment banker with extensive experience in global markets, has been appointed to the Board of the Guardians of New Zealand Superannuation, overseeing the $85 billion Superannuation Fund. Prior to this role, Wilson held key positions at institutions like the Reserve Bank of New Zealand, Bank of England, and Goldman Sachs Asset Management. Acting Finance Minister Chris Bishop highlighted Wilson's valuable expertise in investment management and global markets, emphasizing his potential to make a significant impact on the Guardians' work. Wilson's official appointment to the Board is scheduled to commence on 20 October.
Tags: Andrew Wilson Chris Bishop Investment banker Guardians of New Zealand Superannuation Reserve Bank of New Zealand Bank of England Rothschild Asset Management Goldman Sachs Asset Management Fixed Income Currency & Money MarketsReserve Bank Eases Lending Restrictions for First Home Buyers, Finance Minister Welcomes Move
3 weeks ago | 209 viewsFinance Minister Nicola Willis has praised the Reserve Bank's plan to relax lending restrictions, aiming to assist first home buyers in achieving home ownership. The Reserve Bank is considering increasing the limit on new lending to owner-occupiers with less than a 20% deposit to 25%, potentially aiding more first-time buyers. Additionally, the proposal includes raising the amount banks can lend to residential property investors with deposits under 30% from 5% to 10%, following the introduction of debt-to-income restrictions to enhance banking system resilience.
Tags: Finance Minister Nicola Willis Reserve Bank lending restrictions first home buyers property ladder Kiwis loan to value DTI restrictions banking systemAccelerated Overseas Investment Decisions Boost New Zealand Business Growth and Job Creation
1 month ago | 167 viewsAssociate Finance Minister David Seymour highlights the importance of faster overseas investment decisions for businesses to access capital and create jobs with higher wages. Changes to the Overseas Investment Act have led to significant improvements in processing times, with almost 87% of consent applications processed faster than before. The government aims to streamline the process further to attract more investment, boost economic growth, and support job creation in New Zealand.
Tags: David Seymour LINZ Overseas Investment Act New Zealanders Minister Capital Investment Processing times National Interest Test RegulationsUnlocking Capital: Government to Sell Chorus Securities for Infrastructure Investment
1 month ago | 130 viewsThe Government is considering selling its investment in Chorus to free up capital for more beneficial projects in New Zealand, following the completion of the Ultra-Fast Broadband initiative in 2022. Minister of Finance Nicola Willis highlights the need to redirect the capital into investments that will benefit New Zealanders, with Infrastructure Minister Chris Bishop aiming to expedite the sale to private investors by early 2026 to allocate the proceeds towards hospitals, schools, and roads in Budget 2026. NIFFCo will conduct due diligence on the securities, evaluate market interest, and provide recommendations on the optimal sales process, with a decision on the sale expected by the end of 2025 to ensure value-for-money expectations are met.
Tags: Government Chorus NIFFCo Nicola Willis Chris Bishop Treasury fiscal strategy economic growth New ZealandersGovernment Financial Progress: 2024/25 Statements Reflect Fiscal Discipline and Investment Boost
1 month ago | 132 viewsFinance Minister Nicola Willis highlighted the 2024/25 government financial statements, showcasing progress in restoring fiscal discipline. Key points include a decrease in core Crown expenses, steady net core Crown debt, and a better-than-forecast deficit in the operating balance. The Government's focus on savings has allowed for increased investment in key sectors while maintaining tax relief, with future plans to further reduce government spending as part of ongoing fiscal discipline efforts.
Tags: Government Financial Statements Nicola Willis GDP Crown Expenses Debt OBEGALx Fiscal Discipline Budget.Finance Minister Hails OCR Cut, Easing Pressure on Kiwi Households and Businesses
1 month ago | 148 viewsFinance Minister Nicola Willis highlights the positive impact of the 50 basis point Official Cash Rate reduction on Kiwi households and businesses, easing financial pressure. The reduction in OCR will lead to lower interest rates for mortgage-holders and businesses, stimulating growth and investment. The Government's focus on responsible economic management, along with lower interest rates, aims to support recovery and drive policies for job and income growth to benefit all New Zealanders.
Tags: Official Cash Rate Kiwi households Finance Minister Nicola Willis monetary policy interest rates growth jobs investment inflationNew FamilyBoost Scheme Expands Eligibility and Refunds for Kiwi Families
1 month ago | 183 viewsThe Government has expanded the FamilyBoost scheme to provide more help with early childhood education (ECE) costs for Kiwi families, allowing households with incomes up to just under $230,000 to claim back 40% of their ECE costs, up to $300 a week. Finance Minister Nicola Willis encourages eligible families to check their eligibility on the Inland Revenue website and apply for the increased refunds. The Income Tax (FamilyBoost) Amendment Act increased the proportion of ECE fees families can claim, with an increase in the maximum amount families can claim per week and an expanded household income limit for eligibility.
Tags: Nicola Willis FamilyBoost ECE early childhood education Government Finance Minister households eligibility refunds Inland RevenueDr. Anna Breman Appointed as New Governor of New Zealand Reserve Bank
1 month ago | 192 viewsDr Anna Breman, First Deputy Governor of Sweden's central bank, has been appointed as the new Governor of the Reserve Bank of New Zealand by Finance Minister Nicola Willis. Dr Breman brings a strong background in economics, having held leadership roles at the Riksbank and Swedbank, and worked with various institutions including the World Bank. She was selected from a pool of 300 candidates based on criteria such as leadership skills, technical expertise, stakeholder engagement, resilience, and cultural understanding. Dr Breman's appointment is for a five-year term starting on December 1, succeeding Christian Hawkesby who will support her transition before leaving his interim Governor role.
Tags: Dr Anna Breman Nicola Willis Sweden New Zealand Riksbank Stockholm School of Economics Swedbank World Bank United States Christian HawkesbyFinance Minister Appoints Hayley Gourley to Reserve Bank's Monetary Policy Committee
1 month ago | 224 viewsFinance Minister Nicola Willis appointed Hayley Gourley to the Reserve Bank’s Monetary Policy Committee (MPC), responsible for setting the Official Cash Rate (OCR) in New Zealand. Gourley's diverse experience in corporate, rural, and financial sectors will enhance the Committee's discussions, following the recommendation of the Reserve Bank's Board. She will succeed Professor Bob Buckle on 1 October 2025, who will retire at the end of September after making significant contributions to the MPC.
Tags: Finance Minister Nicola Willis Hayley Gourley Reserve Bank Monetary Policy Committee Official Cash Rate OCR New Zealand agribusinesses Professor Bob BuckleParliament Passes Bill for Fairer and More Effective Revenue Collection on Imported and Exported Goods
1 month ago | 227 viewsParliament has passed the Customs (Levies and Other Matters) Amendment Bill, aiming to enhance revenue collection on imported and exported goods. The bill introduces a levy regime to recover Customs' goods management costs, allows for the collection of product stewardship fees, and streamlines the process for seeking GST refunds on returned imported goods. Customs Minister Casey Costello emphasizes that the bill does not change existing charges or introduce new ones, highlighting the importance of spreading costs across importers through a levy regime.
Tags: Customs Minister Casey Costello Parliament revenue collection imported goods exported goods Customs legislation product stewardship fees waste minimisation legislation GST refunds levy regimeNew Bill Bans Surcharges on Foreign and Commercial Cards for Easier Payments: Impact on Businesses and Consumers
1 month ago | 240 viewsThe Government, led by Commerce and Consumer Affairs Minister Scott Simpson, is expanding the surcharge ban to include foreign-issued cards and commercial cards, aiming to simplify transactions for businesses and consumers. The Retail Payment System (Ban on Merchant Surcharges) Amendment Bill has passed its first reading, prohibiting surcharges on in-store EFTPOS, Visa, and Mastercard payments. The ban, set to be implemented within a month of passing the Bill, aims to save businesses up to $90 million annually and prevent surprise costs for Kiwi shoppers at payment terminals.
Tags: Government payment pain point surcharge ban foreign cards Commerce and Consumer Affairs Minister Scott Simpson Retail Payment System Amendment Bill Commerce Commission banking fees merchant service fees interchange feesNew Capital Settings Proposals Aim to Boost Competition in New Zealand Banking Sector
2 months ago | 486 viewsFinance Minister Nicola Willis supports the Reserve Bank's consultation on reviewing capital settings for banks and deposit takers to address concerns about impacts on competition, lending costs, and economic growth. The Minister's Financial Policy Remit emphasized the need to balance financial stability with competition, prompting the Bank to consider changes like aligning capital requirements with risk and adjusting overall capital ratio requirements to lower lending rates. The proposed changes aim to benefit smaller players in the market, reduce barriers for new entrants, and create a more competitive environment in the New Zealand banking sector.
Tags: Finance Minister Nicola Willis consultation Reserve Bank capital settings banking industry lending New Zealanders competition efficiency