14 Oct 2025
1 year ago
1319 views
Finance 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.
10 Oct 2025
1 year ago
1228 views
The 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.
09 Oct 2025
1 year ago
1215 views
Finance 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.
09 Oct 2025
1 year ago
1319 views
Changes to government procurement rules in New Zealand aim to give local businesses a better chance at winning contracts by introducing an economic benefit test, effective from 1 December. These new rules, resulting from feedback received during consultation, include simplifying processes, reducing the number of rules, and emphasizing the economic value and job creation for Kiwis. The changes are designed to make it easier for both local and international businesses to compete for government contracts while upholding international trade commitments and ensuring responsible use of taxpayer money.
08 Oct 2025
1 year ago
1120 views
Finance 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.
01 Oct 2025
1 year ago
1336 views
The Government has introduced a new loan guarantee scheme to support community housing providers in delivering more social homes at a lower cost, with banks providing debt financing at reduced rates. This initiative aims to remove obstacles and inefficiencies in social housing delivery, with the Crown guaranteeing 80% of loans to eligible providers. The scheme, available until 2027, supports up to $900 million in new lending and refinancing, empowering community housing providers to expand and improve housing accessibility for those in need.
01 Oct 2025
1 year ago
1203 views
The 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.
01 Oct 2025
1 year ago
1298 views
The Government assures power companies it will provide capital for critical electricity infrastructure investments to ensure energy security and competitiveness. Measures include supporting equity injections for strategic projects and addressing gaps in the energy system to lower consumer prices. The Energy Package focuses on security of supply through LNG import facilities and building better markets by incentivizing new energy projects and strengthening regulatory bodies.
24 Sep 2025
1 year ago
1356 views
Dr 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.
23 Sep 2025
1 year ago
1400 views
The New Zealand Government is introducing two new skilled migrant residence pathways to help businesses attract and retain the workforce they need. These pathways include the Skilled Work Experience pathway for migrants with at least five years of relevant work experience and the Trades and Technician pathway for migrants with specified qualifications and work experience. The government aims to balance attracting higher-skilled workers with managing migration levels responsibly, prioritizing New Zealanders for jobs, and ensuring that skilled and experienced migrants are placed in occupations where they are most needed.
18 Sep 2025
1 year ago
1202 views
Finance 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.
18 Sep 2025
1 year ago
1256 views
Finance Minister Nicola Willis highlighted the impact of global uncertainty on consumers and businesses based on released economic data. Stats NZ reported a 0.9% decline in real Gross Domestic Product in the second quarter following an initial increase. Willis attributed this downturn to international turmoil and tariffs affecting investment decisions. Looking ahead, there are positive signs of economic recovery, with lower interest rates, increased mortgage lending, and a forecasted strengthening of economic growth as tariff-related uncertainty diminishes.
17 Sep 2025
1 year ago
1297 views
Starting next month, tens of thousands of households will receive increased support for early childhood education through the expanded FamilyBoost scheme, as announced by Finance Minister Nicola Willis. The legislation for the expanded ECE support scheme has passed through Parliament, with Labour reversing its position to support the enhanced FamilyBoost. Changes include increasing the proportion of ECE fees families can claim from 25 to 40 percent, raising the household income limit for FamilyBoost, and making about 21,000 more households eligible for assistance.
16 Sep 2025
1 year ago
1207 views
The Government is updating the Commerce Act after nearly 20 years to enhance protection for the public and provide more certainty for businesses, focusing on promoting competition, innovation, and fair markets. Key changes include preventing unfair tactics, clearer merger rules, strengthening the Commerce Commission, and facilitating beneficial collaborations among businesses. The amendments aim to ensure the Commerce Commission is more effective, separate governance and regulatory functions, and give the Commission stronger tools to assess mergers and competition concerns, ultimately promoting fairer markets and consumer choice.
29 Aug 2025
1 year ago
1129 views
Finance Minister Nicola Willis thanked departing Reserve Bank Chair Neil Quigley for his long service, acknowledging his contributions over 15 years as a board member and nine as Chair. Quigley resigned immediately, citing the completion of key tasks and the timing being right for a transition to a new Chair. Deputy Chair Rodger Finlay will temporarily assume the Chair's duties until a permanent appointment is made, and the vacancy on the board left by Quigley will be filled in the future.