Articles tagged with Deficit
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NZ Pre-Election Update: Stronger Economy, Lower Deficit, More Jobs & Wages
29 Sep 2026, 12:52 PM | 1 week ago | 93 viewsFinance Minister Nicola Willis announced that New Zealand’s updated pre-election economic forecast shows stronger growth, smaller deficits, bigger surpluses, reduced debt, and rising wages outpacing inflation. The improved outlook is attributed to households and businesses performing better than expected, resulting in increased tax revenue and lower government borrowing, which frees up funds for public priorities and strengthens resilience against global uncertainties. Willis emphasized the importance of maintaining fiscal discipline and cautious spending to sustain this positive trajectory amid ongoing international risks.
Tags: Nicola Willis New Zealand Treasury Finance Minister economic growth government deficit debt wages fiscal disciplineMilldale Housing Project Approved: Boosting Auckland Region Development
03 Oct 2025, 1:05 PM | 1 year ago | 1169 viewsInfrastructure Minister Chris Bishop and Regional Development Minister Shane Jones have approved the Milldale housing project in Wainui, Auckland, which is expected to provide 1100 residential allotments and inject $595 million into the region over three years. The project aims to address housing shortages by creating jobs and streamlining development processes through the Fast-track Approvals Act. Minister Jones is collaborating with Minister Bishop on legislative changes to expedite regional housing projects and other developments in the pipeline.
Tags: Chris Bishop Shane Jones Milldale project housing development infrastructure deficit Auckland region resource management reforms legislative changes regional housing developmentsAccelerated Land Acquisition Bill Boosts Infrastructure Projects
22 Aug 2025, 8:35 AM | 1 year ago | 1480 viewsThe passing of the Public Works Act Amendment Bill will expedite critical infrastructure projects, aiming to address New Zealand's infrastructure deficit by streamlining land acquisition processes. The new accelerated process offers incentives and recognition payments to landowners, while also introducing a faster objections resolution mechanism. The Government plans to further modernize the Public Works Act to improve landowner engagement, disaster recovery support, and overall efficiency in delivering public infrastructure projects.
Tags: Public Works Act Amendment Bill Infrastructure Minister Chris Bishop Land Information Minister Chris Penk infrastructure projects critical infrastructure accelerated land acquisition process Public Works Act landowners infrastructure deficit New Zealand.New Zealand Faces Tariff Increase on US Exports: Implications and Response
01 Aug 2025, 4:10 PM | 1 year ago | 2035 viewsThe United States will increase tariffs on New Zealand exports from 10% to 15% starting August 7, aligning New Zealand with other US trading partners like Japan and South Korea based on trade deficits. Despite New Zealand's modest surplus of around US$500 million with the US, the overall trade relationship is balanced and complementary. Trade and Investment Minister Todd McClay is urgently seeking to discuss the tariff increase with the US Trade Representative to mitigate its impact on exporters and consumers and maintain the strength of the trading relationship.
Tags: United States New Zealand Todd McClay tariffs trade deficits trade relationship US Trade Representative exporters consumers open trade