Articles tagged with Nicola Willis
Showing 15 of 125 articles
FamilyBoost Payments Support Over 97,500 NZ Families with Childcare Costs
27 Jul 2026 | 1 month ago | 332 viewsOver 97,500 New Zealand families have received FamilyBoost payments, which were expanded last year to increase the rebate from 25% to 40%, raise the maximum weekly payment to $120, and extend eligibility to households earning up to $229,000 annually. These changes have resulted in a 70% increase in average payments, helping over 12,000 families each quarter to better manage early childhood education costs and balance work and family life. The government encourages eligible families to register for FamilyBoost, emphasizing its role in supporting working parents and strengthening the economy by easing childcare cost pressures.
Tags: FamilyBoost Nicola Willis New Zealand early childhood education childcare costs working parents Finance Minister government support Inland Revenue family paymentsNZ Inflation Hits 4.1% Due to Oil Price Surge; Govt Emphasizes Fiscal Discipline
21 Jul 2026 | 1 month ago | 390 viewsToday’s inflation rate of 4.1% is largely driven by a global oil price shock, with petrol and diesel prices rising significantly, while core inflation remains within the Reserve Bank's target range. Finance Minister Nicola Willis emphasizes the Government’s prudent response, including targeted support for those most affected by fuel costs and maintaining fiscal discipline to avoid exacerbating inflation. Despite global volatility, New Zealand’s economy is projected to grow steadily with job creation and wages outpacing inflation, supporting long-term affordability and resilience.
Tags: Nicola Willis Finance Minister Stats NZ Consumers Price Index inflation petrol prices diesel prices Reserve Bank New Zealand Government Middle East conflictNew Zealand Launches Strategic Diesel Reserve with Refurbished Marsden Point Tanks
06 Jul 2026 | 2 months ago | 468 viewsTwo refurbished tanks at Northland’s Marsden Point are now operational to store New Zealand’s strategic diesel supply, following a $21.6 million government investment to enhance fuel resilience amid global uncertainties. Z Energy was selected to supply and manage the 90 million litre diesel reserve, with the Crown controlling its release to ensure national security without affecting Z Energy’s stockholding obligations. The first diesel shipment has arrived, with the second expected soon, and fuel stock reporting will resume its regular weekly schedule as global conditions stabilize.
Tags: Nicola Willis Shane Jones Christopher Luxon Rob Buchanan Z Energy Marsden Point New Zealand Channel Infrastructure Regional Infrastructure Fund MBIENZ Government Accounts Show Stronger Economy with Higher Revenue and Lower Deficit
01 Jul 2026 | 2 months ago | 581 viewsThe latest government accounts reveal stronger-than-expected core Crown revenue and lower expenses, indicating an improving economy. Corporate tax revenue rose by $700 million, reflecting increased business profitability, and the deficit was $3 billion lower than forecast. Despite recent challenges like the Middle East conflict, economic indicators such as falling oil prices, rising business confidence, and increased exports suggest the economy is regaining momentum.
Tags: Nicola Willis Finance Minister New Zealand government accounts economy Crown revenue corporate tax OBEGALx Middle East conflict inflation expectationsKiwiSaver Contribution Increase Boosts Retirement Savings for 1.8 Million Kiwis
20 Jun 2026 | 2 months ago | 563 viewsNearly 99.5% of KiwiSaver contributors have accepted the increased default contribution rate from 3% to 3.5%, enhancing their retirement savings and financial security. This change affects about 1.8 million employees, with contributions rising from 6% to 7% of wages when including employer matches, and will increase further in 2028. The higher contributions are projected to significantly boost retirement funds, helping young New Zealanders both in retirement and in purchasing their first homes.
Tags: KiwiSaver Nicola Willis New Zealand retirement contribution rates financial security superannuation wages property ladder employee deductionsNZ Economy Grows Strongly in Q1 2026 with GDP Up 0.8% Amid Global Uncertainty
18 Jun 2026 | 2 months ago | 710 viewsNew Zealand's economy showed strong momentum in the March 2026 quarter, growing 0.8%, nearly three times faster than Australia and twice as fast as the US, with GDP per capita and real purchasing power also rising. This growth reflects the resilience of New Zealanders amid challenging conditions and was supported by business investment and government policies, though uncertainty from the Middle East conflict may impact future growth. Despite short-term caution, the government remains focused on fiscal responsibility and expects economic growth to strengthen over time, leading to more jobs and higher incomes.
Tags: Nicola Willis Stats NZ New Zealand Australia United States Treasury Budget 2026 Middle East Kiwis Investment BoostAgriZeroNZ Launches $51M Early Adoption Accelerator to Boost NZ Farm Tech
09 Jun 2026 | 3 months ago | 673 viewsThe Government and industry have jointly launched the AgriZeroNZ Early Adoption Accelerator, contributing up to $51 million each to support the rollout of innovative farm technologies that enhance New Zealand farmers' competitiveness and emissions efficiency. This co-funded program focuses on practical, scalable solutions, building on prior investments in emissions-reducing research, with tools like EcoPond already available and more technologies expected soon. AgriZeroNZ invites companies and industry groups to participate in projects over the next three years, aiming to provide farmers with diverse technology choices tailored to their operations.
Tags: AgriZeroNZ Nicola Willis Todd McClay Early Adoption Accelerator New Zealand farmers farm technologies emissions reduction EcoPond agriculture innovation Crown fundingGovernment Completes Recommissioning of 93M Litres Diesel Storage at Marsden Point
07 Jun 2026 | 3 months ago | 575 viewsThe Government has completed the recommissioning of 93 million litres of diesel storage capacity at Marsden Point to store newly purchased diesel reserves. Two shipments, arriving soon and in July, will provide about nine days’ average diesel consumption to safeguard New Zealand’s fuel supply amid global uncertainties. Funded by $21.6 million from the Regional Infrastructure Fund, this measure aims to maintain economic stability despite ongoing Middle East conflicts affecting fuel supply and prices.
Tags: Marsden Point Northland Channel Infrastructure NZ Nicola Willis Shane Jones diesel storage New Zealand Regional Infrastructure Fund fuel supply Middle East conflictNew Zealand Doubles Trades Academy Places to 20,000 Boosting Vocational Education
02 Jun 2026 | 3 months ago | 659 viewsThe New Zealand Government is doubling trades academy places from 10,000 to 20,000 with a $69 million investment to provide more young people with practical skills and industry experience while still at school. Additionally, $15 million is allocated to Industry Skills Boards to develop new vocational subjects integrated into the national qualification system, ensuring alignment with industry needs. These initiatives aim to elevate vocational pathways to the same status as other educational routes, offering diverse opportunities for youth to succeed in skilled careers.
Tags: New Zealand Nicola Willis Erica Stanford trades academy vocational education Budget 2026 Industry Skills Boards apprenticeships qualifications reforms vocational pathwaysNew Zealand’s Diesel Reserve Shipment En Route to Marsden Point for Fuel Security
01 Jun 2026 | 3 months ago | 639 viewsNew Zealand is receiving two shipments of diesel reserve, with the first arriving mid-June and the second expected in early July, providing around nine days of typical diesel consumption. The government is refurbishing tanks at Marsden Point, funded by $21.6 million from the Regional Infrastructure Fund, to store the fuel, which will be controlled by the Crown and managed by Z Energy. Finance Minister Nicola Willis emphasizes that this reserve enhances the country's fuel security and resilience against potential supply disruptions.
Tags: Nicola Willis Shane Jones New Zealand Marsden Point diesel reserve Channel Infrastructure Z Energy Regional Infrastructure Fund fuel security crude oil tanksGovernment to Boost NZ Superannuation Fund Contributions to $3.1 Billion by 2030
28 May 2026 | 3 months ago | 685 viewsThe New Zealand Government plans to contribute $3.1 billion to the Superannuation Fund over the next four years, an increase of $2.2 billion due to updated population and inflation forecasts. The Guardians of New Zealand Superannuation have lowered their expected long-term returns from 7.8% to 7.2%, reflecting anticipated weaker global equity market performance. Contributions will continue until 2054, with superannuation costs projected to rise from $24.7 billion to $31.2 billion by 2029/30 as the population ages.
Tags: New Zealand Superannuation Fund Nicola Willis Government contributions Super Fund Guardians of New Zealand Superannuation Treasury Budget forecasts inflation forecasts population projections Finance MinisterBudget 2026 Invests $400M to Strengthen NZ Roads and Improve Disaster Preparedness
28 May 2026 | 3 months ago | 1053 viewsBudget 2026 allocates $400 million to enhance infrastructure resilience, emergency management, and hazard information across New Zealand, focusing on protecting vulnerable communities from severe weather and natural disasters. Key projects include strengthening critical state highways prone to landslides and erosion, developing the first national Flood Map for property-level risk assessment, and modernizing emergency systems for real-time coordination during crises. This investment aims to reduce long-term costs, improve disaster preparedness, and ensure faster recovery by proactively addressing infrastructure weaknesses and improving risk management.
Tags: Nicola Willis Chris Bishop Budget 2026 New Zealand Flood Map SH2 Waioweka Gorge SH3 Awakino Gorge SH25 Coromandel SH60 Tākaka HillBudget 2026: Targeted Support and Fuel Resilience Amid Global Crisis
28 May 2026 | 3 months ago | 652 viewsThe Budget addresses the global fuel crisis with temporary, targeted support and provisions for further action if needed, including increased funding for frontline services, a $50 weekly boost to the In-Work Tax Credit, and $150 million for strategic fuel reserves. It also supports public transport, raises mileage rates for support workers, and sets aside a $450 million reserve for additional measures should conditions worsen. Emphasizing fiscal discipline, the Government aims to protect households and businesses while maintaining New Zealand’s financial resilience amid ongoing global uncertainties.
Tags: Nicola Willis Budget 2026 New Zealand fuel crisis Fire and Emergency Corrections Police Customs EducationBudget 2026 Introduces Prudential Levy on NZ Banks and Financial Firms
28 May 2026 | 3 months ago | 715 viewsBudget 2026 introduces a new prudential levy on banks, non-bank deposit takers, insurers, and financial market participants to cover Reserve Bank regulatory costs, aligning with international practices and ensuring taxpayers do not bear these expenses. The levy, expected to raise around $209 million over four years, will be paid to the Reserve Bank and returned to the government via increased dividends, with implementation planned for mid-2027 after consultation. This measure aims to strengthen New Zealand’s financial system by funding supervision, licensing, monitoring, and crisis management of regulated entities, including 27 banks, 14 non-bank deposit takers, 81 insurers, and five financial market infrastructures.
Tags: Budget 2026 prudential levy Reserve Bank Nicola Willis Financial Markets Authority Commerce Commission New Zealand banks insurers financial market participants financial regulationBudget 2026: New Prudential Levy on NZ Banks and Financial Market Players
28 May 2026 | 3 months ago | 706 viewsBudget 2026 introduces a new prudential levy on banks, non-bank deposit takers, insurers, and financial market participants to fund the Reserve Bank’s regulatory and supervisory services, ensuring these costs are borne by the industry rather than taxpayers. The levy, estimated to raise around $209 million over four years, aligns with international practices and will be implemented by mid-2027 after sector consultation. It targets a broad range of financial entities, including 27 banks, 14 non-bank deposit takers, 81 insurers, and five financial market infrastructures, supporting the Reserve Bank’s role in maintaining financial stability.
Tags: Budget 2026 prudential levy Reserve Bank Nicola Willis Financial Markets Authority Commerce Commission New Zealand banks insurers financial market infrastructure financial regulation