07 Aug 2025
1 year ago
1625 views
Finance Minister Nicola Willis highlights Treasury's report on the dangers of excessive government spending, emphasizing the challenges of using large spending measures in response to one-off shocks like the Covid-19 pandemic. The report criticizes the fiscal response to Covid, pointing out significant errors made and urging policymakers to avoid repeating those mistakes. It emphasizes the importance of restoring fiscal guardrails promptly after increased spending during crises, praising the current Government's commitment to responsible fiscal and economic management.
07 Aug 2025
1 year ago
1979 views
Prime Minister Christopher Luxon is set to host Australian Prime Minister Anthony Albanese for the annual Australia New Zealand Leaders’ Meeting in Queenstown. Luxon looks forward to discussing the strong Australia-New Zealand relationship, highlighting their economic partnership with $32 billion in two-way trade. Albanese will be welcomed by Ngāi Tahu in Queenstown for bilateral talks, a business roundtable, and to enjoy the beauty of Central Otago during his visit from Saturday to Sunday.
06 Aug 2025
1 year ago
1641 views
Finance Minister Nicola Willis has acknowledged the latest labour market data, revealing a lower-than-expected unemployment rate of 5.2% for the June quarter, below the Treasury's forecast of 5.4%. Despite challenges like inflation and rising interest rates, the government's efforts have led to 8,000 fewer unemployed individuals than initially projected, with a focus on economic recovery and job creation through initiatives like government-funded construction projects and investment incentives. Additionally, there has been a notable increase in average hourly earnings by 4.5% in the past year, surpassing the inflation rate of 2.7%.
05 Aug 2025
1 year ago
2619 views
The address at Marsden Point highlighted plans for a new rail link, development of a dry dock, and potential for 'special economic zones' to boost Northland's economic relevance to New Zealand. The focus was on the importance of trade for New Zealand's economy, with discussions on the need for a second major port due to capacity constraints at existing ports like Tauranga and Auckland. The address also emphasized the significance of energy security, job creation, and export growth through initiatives like the Marsden Point Rail Link and the proposed Special Economic Zones legislation.
31 Jul 2025
1 year ago
1935 views
The $17.5 million investment in sustainable tourism aims to boost regional economies by supporting jobs and incomes at popular natural attractions in New Zealand. The funding will improve visitor planning and management at key sites like Aoraki Mount Cook National Park and Milford Sound, ensuring the conservation areas continue to attract tourists with stunning nature. Additionally, investments in Great Walks and DOC campsites will enhance service and management, contributing to the country's economic growth driven by tourism expenditure of $44.4 billion and over 300,000 jobs.
27 Jul 2025
1 year ago
1788 views
Starting tomorrow, New Zealand will see increased accessibility of various building products such as plasterboard, cladding systems, external doors, and windows, aiming to boost the construction industry and lower building costs. The government, led by Building and Construction Minister Chris Penk, is focused on driving economic growth, creating jobs, and improving wages through initiatives like allowing quality overseas building products into the market. These changes are part of a broader effort to introduce competition, reduce costly monopolies, and streamline the use of international building standards, with the Building Product Specifications document being a key resource for this transition.
23 Jul 2025
1 year ago
2936 views
Dr Shane Reti, Pacific Peoples Minister, attended the Pacific Islands Forum Economic Ministers Meeting in Suva, Fiji, reaffirming New Zealand's commitment to Pacific-led priorities and announcing new support for climate resilience and public health initiatives. The Forum focused on strengthening regional ties, addressing economic development, banking access, and labor mobility challenges. Dr Reti launched Fiji's NZ$3.2 million participation in the Pacific Climate-Smart Agriculture and Sustainable Land Management Partnership to develop climate-resilient crops and sustainable farming practices, and announced NZ$4 million in support of Fiji's response to its national HIV outbreak to reduce transmission and fight stigma.
22 Jul 2025
1 year ago
2133 views
The NZ-UAE Comprehensive Economic Partnership Agreement (CEPA) legislation has passed, giving Kiwi exporters access to a $500 billion market that imports 90% of its food, with tariffs on 98.5% of exports immediately removed, rising to 99% in three years. Agriculture, Trade, and Investment Minister Todd McClay highlights the benefits of the agreement in lowering costs, increasing access, and enhancing New Zealand's presence in the Middle East, aiming to capitalize on UAE consumers' demand for safe, fresh products. The CEPA aims to boost two-way trade between New Zealand and the UAE, worth $1.35 billion last year, by reducing red tape, promoting services trade, and supporting investment links, aligning with the government's goal of doubling export value in a decade.
21 Jul 2025
1 year ago
1996 views
New data released by Stats NZ today shows inflation at 2.7 per cent for the 12 months to the June 2025 quarter, remaining within the Reserve Bank's target range, according to Finance Minister Nicola Willis. This marks the fourth consecutive quarter of inflation being within the target range, contrasting with previous higher rates under the previous government. Local authority rates and payments were noted as the largest contributor to annual inflation, prompting the government to call for better management to keep rates under control and ensure economic growth for job creation and public services funding.
20 Jul 2025
1 year ago
2007 views
Billions of dollars in government-funded infrastructure projects are set to begin in the next few months, creating thousands of jobs and driving economic activity nationwide. The projects include new roads, hospitals, schools, and government buildings, aimed at improving infrastructure quality to boost the economy and help with the cost of living. The Infrastructure for Growth work program has delivered on actions to strengthen the infrastructure pipeline, with future projects totaling $207 billion planned across various sectors.
17 Jul 2025
1 year ago
1864 views
Over 80,700 individuals transitioned from benefits to employment in the past year, reflecting the government's focus on facilitating job opportunities despite economic challenges. While the total number of beneficiaries has increased, particularly in Jobseeker Support, this aligns with seasonal trends and the government's efforts to provide enhanced support services for job seekers. Initiatives such as increased case management, community job coaching, and regular work seminars aim to assist individuals in securing and maintaining employment, with a focus on transitioning people off welfare and into work during the economic recovery period.
16 Jul 2025
1 year ago
2246 views
Regulation Minister David Seymour and Health Minister Simeon Brown welcome ANZCA and RANZCO medical conferences coming to New Zealand in 2026, with 3300 delegates expected, generating millions in economic activity. ANZCA will bring 1500 delegates, injecting over $3 million, while RANZCO's congress will host 1800 delegates, contributing more than $2 million. The Government's move to end the prohibition on advertising medicines at conferences aims to boost the economy, provide knowledge to medical professionals, and enhance access to healthcare innovations.
15 Jul 2025
1 year ago
2252 views
The Coalition Government is seeking feedback on a draft Fuel Security Plan to ensure reliable fuel access for New Zealanders during disruptions, focusing on improving resilience, infrastructure, low-carbon alternatives, and managing the transition to new energy technologies. Associate Energy Minister Shane Jones emphasizes the importance of fuel security for economic and national resilience, highlighting recent measures to boost reserves and improve storage locations. Public submissions on the plan are open from July 15 to August 25, with feedback accepted through the MBIE website.
09 Jul 2025
1 year ago
2292 views
The Government’s responsible fiscal management has supported the Reserve Bank to keep the Official Cash Rate low, Finance Minister Nicola Willis says. The Reserve Bank of New Zealand today announced it would keep the Official Cash Rate (OCR) at 3. 25 per cent while continuing to foreshadow further reductions in the OCR.
08 Jul 2025
1 year ago
3609 views
Science, Innovation and Technology Minister Dr Shane Reti has launched New Zealand’s first AI Strategy to boost productivity and grow a competitive economy. “AI could add $76 billion to our GDP by 2038, but we’re falling behind other small, advanced economies on AI-readiness and many businesses are still not planning for the technology,” says Dr Reti. “We must develop stronger Kiwi AI capabilities to drive economic growth, and this Strategy sends a strong signal that New Zealand supports the uptake of AI.