10 Jul 2025
1 year ago
1837 views
Associate Justice Minister Nicole McKee says that small businesses will benefit from upcoming reforms to New Zealand’s Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) laws, as the Government moves to make compliance more proportionate and practical for low-risk operators. Associate Justice Minister Nicole McKee has announced Cabinet’s approval to draft a new Anti-Money Laundering and Countering Financing of Terrorism (Omnibus) Amendment Bill to overhaul the existing system. Under current rules, even small businesses and professionals, such as real estate agents, face complex and time-consuming checks, often regardless of how much risk they face,” Mrs McKee says.
09 Jul 2025
1 year ago
2032 views
Associate Justice Minister Nicole McKee today announced further steps in the Government’s overhaul of the AML/CFT regime, strengthening efforts to combat serious financial crime. “This Government is serious about targeting criminals, not tying up legitimate businesses in unnecessary red tape,” Mrs McKee says. “Cabinet has agreed to introduce a bill to strengthen enforcement powers for Police and regulators to crack down on those involved in money laundering.
09 Jul 2025
1 year ago
2307 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
1967 views
Associate Justice Minister Nicole McKee says the Government is continuing to cut through unnecessary bureaucracy with reforms to the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act, which will make life easier for hard-working Kiwi families managing property through family trusts. “For thousands of New Zealanders, setting up a family trust is part of securing their financial future, especially when it comes to their home. But under the current AML regime, selling a house held in a trust triggers a burdensome level of document verification and compliance checks that has little to do with actual risk,” Mrs McKee says.
07 Jul 2025
1 year ago
2340 views
Associate Justice Minister Nicole McKee is making changes to the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act that will make it easier for parents to open bank accounts for their children. “Opening a bank account for children should be a simple and positive step toward teaching them the value of saving. Unfortunately, regulations designed to prevent serious crimes can make the process unnecessarily difficult,” says Mrs McKee.
07 Jul 2025
1 year ago
2094 views
Tens of thousands of households will be better off thanks to changes being made to FamilyBoost to help families with the cost of living, Finance Minister Nicola Willis says. “From the start of this month, families will get larger FamilyBoost rebates on the early childhood education fees they pay, with rebates increasing from 25 per cent to 40 per cent of weekly fees, and those with household incomes of up to $229,000 now eligible to apply. “This means for example that a family with early childhood fees of $100 a week could have their weekly FamilyBoost payment increased from $25 a week to $40 a week, meaning their annual payments would increase from $1,300 to $2,080 over the course of a year, making them hundreds of dollars better off.
03 Jul 2025
1 year ago
2345 views
The Government is strengthening trespass laws to make them more effective and practical for businesses, Justice Minister Paul Goldsmith and Associate Justice Minister Nicole McKee say. “We know our trespass laws are no longer fit for purpose. They’re difficult to enforce and often criminals take no notice.
01 Jul 2025
1 year ago
2108 views
The Government is making it easier for police to punish shoplifters and is introducing stronger penalties for low-level theft, Justice Minister Paul Goldsmith and Associate Justice Minister Nicole McKee say. “Public confidence in our justice system is undermined if people can steal with apparent impunity. It’s disheartening, and our government will not sit by while shoplifters rob businesses of their livelihoods,” Mr Goldsmith says.
01 Jul 2025
1 year ago
2367 views
Former Acting Governor Grant Spencer has been appointed to the Reserve Bank of New Zealand Board, Finance Minister Nicola Willis has announced. Board member Byron Pepper has been reappointed. Both are on five-year terms, beginning today.
27 Jun 2025
1 year ago
2784 views
The government’s secure digital storage capability has been significantly boosted with the opening of the new all-of-government data centre, the Minister Responsible for the GCSB and Minister of Defence Judith Collins says. “This facility will provide a safe, secure storage capability for New Zealand agencies to process and store some of the government’s most sensitive information for the next quarter of a century,” says Ms Collins. “Today we conduct the vast majority of our business digitally, and the amount of government data that requires safe and secure storage is only going to increase.
27 Jun 2025
1 year ago
2710 views
Broadcaster Paul Henry has been appointed to the TVNZ Board, Media and Communications Minister Paul Goldsmith says. “Mr Henry has spent nearly his entire career involved in the broadcasting industry, producing news, current affairs, and entertainment programming both here in New Zealand and overseas. “He was integral in the establishment of the successful multi-platform Paul Henry breakfast show, established and sold a radio station in the Wairarapa, and was heavily involved in the launch of the former radio network Today FM.
26 Jun 2025
1 year ago
2419 views
Economic Growth Minister Nicola Willis has written to the major supermarkets to restate the basic expectation that they take all steps needed to comply with the Fair Trading Act and ensure Kiwi shoppers are not subjected to misleading price claims. “Supermarkets have statutory obligations under the Fair Trading Act to ensure that pricing information is accurate and does not mislead consumers. “I am disappointed that I have to spell out to some of New Zealand’s biggest and most sophisticated retail operators - Foodstuffs North Island, Foodstuffs South Island, and Woolworths - that they should have in place processes to prevent inaccurate pricing, institute and publicise refund policies, and train staff to ensure that when errors are reported, fixes occur system-wide.
23 Jun 2025
1 year ago
3708 views
The Government is attracting new migrants to bring their capital, experience and skills to New Zealand with a flood of formal interest in the new 'golden’ visa. Since only April – less than three months – Immigration New Zealand (INZ) has received 189 applications for the Active Investor Plus visa, significantly more than the 116 applications received over more than two-and-a-half years under previous settings, Economic Growth Minister Nicola Willis says. “New applications under the scheme represent a potential $845 million of new investment in New Zealand business.
19 Jun 2025
1 year ago
2436 views
Prime Minister Christopher Luxon has concluded the successful Shanghai leg of his official visit to China, accompanied by Ministers Louise Upston and Mark Mitchell and a delegation of senior New Zealand business leaders from across the food and beverage, health and wellbeing, education, and tourism sectors. “Our bilateral trade relationship with China is one of our most important, with two-way trade exceeding NZ$39 billion in the year ending March 2025. “This relationship accounts for more than 20 per cent of New Zealand’s total goods and services exports,” Mr Luxon says.
19 Jun 2025
1 year ago
2828 views
Today’s surprise economic result is great news for workers, families and businesses, Finance Minister Nicola Willis said today. “Stats NZ reported today that the economy grew 0. 8 per cent in the first three months of the year, twice the rate forecast by the Treasury and the Reserve Bank a short time ago.