27 Aug 2025
1 year ago
1619 views
The Government plans urgent legislative and policy changes to remove barriers for competitor supermarkets in New Zealand, aiming to boost competition and offer better deals for consumers. These changes include fast-track approvals for new supermarkets, streamlining building consent processes, and amending regulations to combat predatory pricing. The initiative aims to encourage new domestic competitors and potential international retailers like Costco to expand in New Zealand, with further considerations on potentially restructuring major supermarket players Foodstuffs and Woolworths to enhance market competition.
26 Aug 2025
1 year ago
1671 views
The Social Investment Fund, recently launched by Social Investment Minister Nicola Willis, targets children facing challenging family or schooling situations, such as those with incarcerated parents or who have been suspended from school early. Data-driven evidence supports the approach of intervening early to improve outcomes for these vulnerable groups, benefitting both individuals and society as a whole. With a budget of $190 million over four years, the Fund aims to invest in effective solutions, empower community organizations, and measure the impact of interventions transparently.
26 Aug 2025
1 year ago
1508 views
The Social Investment Fund, recently launched by Social Investment Minister Nicola Willis, targets children facing challenging family or school situations, such as those with incarcerated parents or who have been suspended from school before age 13. By investing in these priority groups, the fund aims to improve outcomes for individuals and communities, based on data showing early intervention can lead to better long-term results and cost savings for the government. With a budget of $190 million over four years, the Fund emphasizes evidence-based approaches and transparent impact measurement, empowering organizations to make targeted investments that work.
26 Aug 2025
1 year ago
1591 views
The Social Investment Fund, recently launched by Social Investment Minister Nicola Willis, targets children facing challenging family or educational circumstances, including those with parents in jail or who have been in the care system. Data-driven evidence supports early intervention for these children to improve outcomes and reduce long-term government costs. The Fund, with a budget of $190 million over four years, aims to invest in effective strategies, empower community organizations, and measure the impact of interventions transparently.
25 Aug 2025
1 year ago
1569 views
Finance Minister Nicola Willis supports the Reserve Bank's consultation on reviewing capital settings for banks and deposit takers to address concerns about impacts on competition, lending costs, and economic growth. The Minister's Financial Policy Remit emphasized the need to balance financial stability with competition, prompting the Bank to consider changes like aligning capital requirements with risk and adjusting overall capital ratio requirements to lower lending rates. The proposed changes aim to benefit smaller players in the market, reduce barriers for new entrants, and create a more competitive environment in the New Zealand banking sector.
22 Aug 2025
1 year ago
1457 views
Finance Minister Nicola Willis has welcomed the release of the Finance and Expenditure Committee (FEC) Inquiry into banking competition, focusing on business, rural banking, and lending to Māori entities. The inquiry supports the Government's efforts to enhance competition in the banking sector for better services for Kiwis. The report, based on submissions from 148 stakeholders and public hearings, will be reviewed by the Government for proposed action items by November 2025.
20 Aug 2025
1 year ago
1468 views
Finance Minister Nicola Willis highlights the benefits of falling interest rates, including support for growth, businesses, job creation, and mortgage holders. The Reserve Bank has reduced the Official Cash Rate (OCR) from 3.25 to 3 percent, with further decreases expected. Lower interest rates stimulate economic activity, reduce mortgage repayments, and are seen as a positive response to economic challenges, signaling improving conditions and effective economic management by the government.
19 Aug 2025
1 year ago
1371 views
Finance Minister Nicola Willis is pleased with Fitch Ratings affirming New Zealand's AA+ credit rating, attributing it to the government's prudent financial management. Fitch acknowledges New Zealand's strong commitment to fiscal consolidation and warns that a deviation from this path could impact creditworthiness. Willis emphasizes the importance of maintaining fiscal responsibility to avoid a credit downgrade, which would raise government debt costs and potentially affect households and businesses.
15 Aug 2025
1 year ago
1582 views
KiwiRail and Hyundai Mipo Dockyard have settled on a $144 million payment to cover costs incurred from the cancelled Project iReX ferries, with KiwiRail emphasizing the decision was not a reflection on Hyundai. The settlement frees up more funding for other Government projects, debunking claims that canceling the contract would cost taxpayers the full $551 million contract value. The settlement marks the end of mismanagement by the previous government, which failed to consider necessary port infrastructure, resulting in a near quadrupling of project costs before its cancellation in December 2023.
07 Aug 2025
1 year ago
1646 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.
06 Aug 2025
1 year ago
1647 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%.
02 Aug 2025
1 year ago
2225 views
The speaker expresses gratitude to various individuals for their contributions to the National Party, highlighting achievements in law and order, education, healthcare, and the economy over the past two years. They emphasize the progress made in reducing violent crime, improving education, and enhancing healthcare services. The speaker also outlines plans to further stimulate economic growth, create jobs, and increase wages by streamlining processes for businesses operating on DOC land and implementing charges for foreign visitors at high volume sites to generate revenue for conservation efforts.
30 Jul 2025
1 year ago
1944 views
Kiwibank has been authorized to enhance its competition with the dominant Australian-owned banks in New Zealand's banking sector by raising up to $500 million in capital for growth. This move is aimed at enabling Kiwibank to better compete with the big four Australian banks while preserving its New Zealand identity. The government has approved measures to ensure Kiwibank's New Zealand identity, including maintaining majority government ownership and requiring key operational aspects to remain in New Zealand.
28 Jul 2025
1 year ago
1829 views
The Government, led by Prime Minister Christopher Luxon and Minister of Finance Nicola Willis, is prioritizing economic growth to create jobs, raise incomes, and assist New Zealanders with the cost of living. Initiatives such as scrapping surcharges, tax relief, and the introduction of FamilyBoost aim to alleviate financial burdens for families. By focusing on key areas like talent development, competitive business settings, global trade, innovation, and infrastructure, the Government aims to boost wages by growing the economy in the long term.
21 Jul 2025
1 year ago
2011 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.