02 Sep 2026
1 month ago
451 views
The Reserve Bank raised the Official Cash Rate to 2.75% and expects the economic recovery to strengthen and broaden, supported by a resilient export sector and increased household spending. Inflation is anticipated to return to the mid-point of the target range, boosting purchasing power. Finance Minister Nicola Willis welcomed the assessment, highlighting the economy's resilience amid global challenges and the export-driven nature of the recovery.
02 Sep 2026
1 month ago
489 views
Finance Minister Nicola Willis welcomed the Reserve Bank’s assessment that the economic recovery is resuming and expected to broaden, highlighted by a 0.25 basis point increase in the Official Cash Rate to 2.75 percent. The Reserve Bank anticipates a strengthening recovery driven by a resilient export sector, increased household spending, and rising purchasing power as inflation moves toward the target range. Willis emphasized the economy’s resilience amid global challenges and noted that this recovery is export-led rather than reliant on rising house prices, offering a positive outlook despite ongoing difficulties.
12 May 2026
5 months ago
956 views
Defence Minister Chris Penk highlighted the vital role New Zealand businesses play in supporting national security by providing essential equipment, services, and infrastructure to the Defence Force. This year’s award recipients contribute to regional growth, innovation, and the Defence Capability Plan’s goals, which include doubling defence spending by 2025. Additionally, the Defence Industry Advisory Council has been revitalized with updated membership and terms to better align with government defence and economic priorities.
02 Sep 2025
1 year ago
1555 views
Fresh data released today indicates that international visitor arrivals and spending are on the rise, boosting New Zealand's tourism sector and economy, as highlighted by Tourism and Hospitality Minister Louise Upston. The year ending June 2025 saw international tourism contribute $12.1 billion to the economy, a 4.3% increase from the previous year, with a 5% rise in visitor arrivals totaling 3.38 million. Despite positive growth, Upston emphasizes the need for continued efforts to further enhance the tourism sector, referencing initiatives like the Tourism Growth Roadmap aimed at doubling tourism exports by 2034.
07 Aug 2025
1 year ago
1637 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.
31 Jul 2025
1 year ago
2971 views
Local Government Minister Simon Watts emphasizes the importance of councils' spending transparency and its impact on ratepayers. The government aims to empower ratepayers by providing clear data on council performance and spending, allowing for better engagement and accountability. Additionally, there is a focus on councils delivering essential services efficiently and supporting communities through a potential rates capping system to ensure responsible spending.