Articles tagged with Economic Growth
New Overseas Investment Law Speeds Approvals and Boosts NZ Economic Growth
1 week ago | 80 viewsAssociate Finance Minister David Seymour welcomes the Overseas Investment Amendment Act, which accelerates overseas investment decisions to 15 working days for most sectors, aiming to boost New Zealand business growth, productivity, and wages. The law simplifies the screening process with a modified national interest test, maintains stricter rules for sensitive assets like farmland and residential land, and allows overseas investors with a New Zealand investor resident visa to purchase high-value homes to encourage investment. Immigration Minister Erica Stanford highlights that attracting international investors brings capital, skills, and connections vital for economic development and growth.
Tags: David Seymour Erica Stanford Overseas Investment Act New Zealand LINZ Active Investor Plus immigration foreign investment economic growth productivityFast-Track Approvals Amendment Bill Passed to Boost Economy and Grocery Competition
1 week ago | 76 viewsThe Fast-track Approvals Amendment Bill has been passed to streamline and expedite the approval process for important projects, particularly benefiting supermarket competition and regional development. The amendments aim to reduce consent processing times by over six weeks, making it easier for new supermarkets to open and boosting economic growth. Ministers emphasize that these changes will promote affordability, regional prosperity, and faster project delivery by addressing previous inefficiencies and red tape.
Tags: Nicola Willis Chris Bishop Shane Jones economic growth supermarket competition resource consent grocery affordability regional development government policy statementNew Zealand's Planning Reform Boosts Growth, Cuts Costs, and Modernizes Laws
1 week ago | 99 viewsFinance Minister Nicola Willis and RMA Reform Minister Chris Bishop announced a major overhaul of New Zealand’s planning rules aimed at boosting economic growth, job creation, and income levels by replacing the Resource Management Act with a more efficient, pro-growth system. The reforms, introduced through two new bills—the Planning Bill and the Natural Environment Bill—are projected to save $13.3 billion in costs over 30 years and increase GDP by at least 0.56% annually by 2050, while strengthening property rights and reducing regulatory burdens. The Government plans to pass the legislation by 2026, inviting public input through the Select Committee process.
Tags: Nicola Willis Chris Bishop Simon Court New Zealand Resource Management Act Planning Bill Natural Environment Bill RMA Reform Finance Minister economic growthReserve Bank Cuts OCR Again to 2.25%, Boosting Kiwi Economy in 2026
3 weeks ago | 134 viewsThe Reserve Bank has lowered the Official Cash Rate to 2.25%, marking the ninth reduction since July 2024, which is boosting economic activity and supporting forecasts of falling inflation and rising growth. This easing of rates is benefiting households by increasing mortgage renewal opportunities and enabling more Kiwis to purchase their first homes, with 23,600 first-time buyers in the past year. Finance Minister Nicola Willis highlights that these positive economic trends offer hope and improved financial choices for New Zealand families and businesses.
Tags: Nicola Willis Reserve Bank Official Cash Rate OCR New Zealand inflation economic growth mortgage lending first home buyers Kiwi familiesNew Zealand Business Investor Visa Now Open for Experienced Investors
3 weeks ago | 134 viewsNew Zealand has launched the Business Investor Visa to attract experienced investors who will actively contribute to established businesses, supporting economic growth and job creation. The visa offers two investment pathways: $1 million for a three-year work-to-residence option and $2 million for a 12-month fast-track to residence. This initiative aims to sustain local businesses, protect jobs, and bring fresh capital and expertise into the economy as part of broader efforts to boost investment and growth.
Tags: Business Investor Visa New Zealand Immigration Erica Stanford investment business growth Active Investor Plus visa economic growth overseas investorsNZ Government Proposes Digital Food Labels to Boost New Supermarkets Entry
1 month ago | 134 viewsThe New Zealand Government is proposing a trial of digital food labelling for lower-risk imported goods to reduce costly re-labelling requirements for new supermarkets entering the market. This initiative aims to provide allergen, ingredient, and nutrition information via QR codes and digital platforms while ensuring compliance with food safety regulations. Public consultation on the trial is open until December 19, 2025, with the goal of enhancing market entry flexibility and supporting trans-Tasman digital labelling efforts.
Tags: Nicola Willis Andrew Hoggard New Zealand Food Act digital labels supermarkets food labelling food safety economic growthNew Zealand's Medicines Advertising Ban Lifted, Boosting Economic Growth
1 month ago | 170 viewsThe Medicines Amendment Bill in New Zealand has lifted the prohibition on advertising medicines at medical conferences and trade shows, signaling the country's readiness for business, according to Regulation Minister David Seymour and Health Minister Simeon Brown. This change is expected to inject cash into local economies through the Red Tape Tipline and provide Kiwis with increased access to needed medicines. The move is projected to generate $90 million in revenue over the next few years, attracting major medical conferences to New Zealand and fostering economic activity.
Tags: Medicines Amendment Bill New Zealand advertising medical conferences trade shows Regulation Minister David Seymour Health Minister Simeon Brown Red Tape Tipline pharmaceutical companies economic growthCostco's Expansion Plans Bring Economic Boost to New Zealand Shoppers
1 month ago | 190 viewsUS supermarket giant Costco is planning to open a second store in South Auckland, welcomed by Economic Growth Minister Nicola Willis. The Government is facilitating quick approvals for new supermarkets through legislation and working closely with Costco for efficient consenting processes. Kiwi Property has agreed to sell land for the new Costco store, expected to boost the economy, create jobs, and enhance competition for shoppers.
Tags: Nicola Willis Costco New Zealand South Auckland Kiwi shoppers Economic Growth Minister Kiwi Property Drury Auckland’s economy construction jobsNew Zealand Enhances Screen Production Rebate to Boost Global Competitiveness
1 month ago | 211 viewsThe Government of New Zealand is updating the International Screen Production Rebate to enhance the country's competitiveness in the global film and television industry, responding to industry feedback and increasing incentives to attract screen investment. Changes include lowering the minimum qualifying spend for feature films, reducing thresholds for incentives, expanding eligibility for post-production projects, and removing caps on certain costs. These updates aim to diversify the screen economy, strengthen partnerships in growing markets, and support the local industry while attracting new investment and technology.
Tags: Government International Screen Production Rebate New Zealand Nicola Willis film television streaming productions economic growth incentives global competitionEden Park Planning Restrictions Costing Millions: Public Feedback Invited for Proposed Changes
1 month ago | 218 viewsThe Government released an investigative report revealing that Eden Park's planning restrictions may be causing significant economic losses and job reductions, prompting calls for public feedback on proposed changes. The report highlights how current rules are hindering Eden Park's ability to contribute to Auckland's economic growth by imposing strict limits on events and activities. Recommendations include expanding event uses, increasing concert allowances, and implementing noise standards, with a public consultation process underway until November 19, 2025 to gather feedback for potential rule changes aimed at boosting local jobs and economic growth.
Tags: Eden Park planning restrictions lost revenue RMA Reform Minister Chris Bishop economic growth local planning rules public feedback events tourism sectors consultation.Fast-track Approvals Amendment Bill Boosts Grocery Competition for Kiwi Shoppers
1 month ago | 191 viewsThe Government has introduced the Fast-track Approvals Amendment Bill to create a fast-track consent option for new supermarkets, aiming to improve grocery competition and provide better prices and choices for consumers. The Bill streamlines the approval process by allowing new supermarket developments to bypass standard resource consent processes and be referred to a fast-track expert panel for quicker decisions. The amendments aim to enhance the efficiency of the Fast-track Approvals Act, with technical changes to cut project application processing times and reduce processing and consideration times by an estimated six weeks or more.
Tags: Government Nicola Willis Economic Growth Minister Chris Bishop RMA Reform Shane Jones Regional Development Minister supermarket grocery competitionNew Zealand Biosecurity Laws Strengthened to Safeguard Economy
1 month ago | 227 viewsBiosecurity Minister Andrew Hoggard highlights the importance of strengthening New Zealand's biosecurity laws to protect against invasive pests and diseases, supporting economic growth in the food and fibre sector, which contributes significantly to the country's GDP. The proposed changes aim to enhance biosecurity defenses, with penalties for failing to declare risk goods at the border, improved management of pests and diseases, and more efficient import rules to support trade while maintaining high biosecurity standards. The Minister emphasizes the need to prevent incursions to safeguard New Zealand's competitive advantage in the global food and fibre export industry, with a draft bill reflecting these changes expected to progress through Parliament in the near future.
Tags: Andrew Hoggard Biosecurity Minister New Zealand biosecurity laws invasive pests economic growth food and fibre sector GDP pests and diseases export industryRolleston Access Improvements Driving Jobs & Growth | Canterbury Transport Project
2 months ago | 228 viewsTransport Minister Chris Bishop highlights that the Rolleston Access Improvements project on State Highway 1 will boost jobs and economic growth in the rapidly expanding Canterbury region. The project aims to enhance transport connections for residents and businesses in the Selwyn district, a key area for growth and access to Christchurch. The government's $7 billion infrastructure investment includes this project, with the first stage focusing on constructing a new roundabout, pedestrian and cycle subway, and various road upgrades to improve safety and efficiency, with completion expected by the end of 2026.
Tags: Rolleston Transport Minister Chris Bishop Canterbury infrastructure projects road improvements economic growth construction NZTA Fulton Hogan State Highway 1.Unlocking Capital: Government to Sell Chorus Securities for Infrastructure Investment
2 months ago | 241 viewsThe 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.
Tags: Government Chorus NIFFCo Nicola Willis Chris Bishop Treasury fiscal strategy economic growth New ZealandersNew Zealand Boosts Local Businesses with Procurement Rule Changes
2 months ago | 308 viewsChanges 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.
Tags: New Zealand Government contracts Economic Growth Minister Nicola Willis procurement rules businesses economic benefit test Kiwi businesses taxpayer money international companies