Articles tagged with Finance
New Governance Model to Strengthen New Zealand's Commerce Commission by 2027
1 hour ago | 20 viewsNew Zealand is reforming its Commerce Commission to improve competition regulation by separating governance and regulatory functions, following an independent review that found the current structure ineffective. The new governance model, effective from July 2027, introduces an oversight board with external directors and a panel of expert commissioners to enhance decision-making and market competitiveness. Current leadership will provide continuity during the transition, with the Commerce (Commerce Commission Reform) Amendment Bill now under consideration by the Finance and Expenditure Committee.
Tags: Scott Simpson Dame Paula Rebstock Dr John Small Anne Callinan Commerce Commission Commerce Commission Reform Bill New Zealand Commerce and Consumer Affairs Finance and Expenditure Committee regulatory reformNew Commerce Commission Reform Bill to Strengthen Competition and Market Oversight in NZ
1 hour ago | 36 viewsNew Zealand is reforming its Commerce Commission to enhance competition, innovation, and market fairness by separating governance and regulatory functions, following an independent review that found the current structure inadequate. The new model, effective from July 2027, introduces an oversight board with external directors, a panel of expert commissioners, and delegated regulatory decision-making to improve strategic focus and operational effectiveness. Leadership continuity will be maintained with Dr. John Small as chief commissioner and board chair until 2030, ensuring stability during the transition.
Tags: Scott Simpson Dame Paula Rebstock Dr John Small Anne Callinan Commerce Commission Commerce Commission Reform Bill New Zealand Commerce and Consumer Affairs Finance and Expenditure Committee regulatory reformNew Zealand Economy Grows 0.2% in Q4 2025, Strong Start to 2026
1 week ago | 169 viewsEconomic data shows New Zealand's economy grew by 0.2% in the December quarter, with a 1.1% increase in the second half of 2025 after a flat first half. Finance Minister Nicola Willis notes that despite volatility and challenges like high inflation and interest rates, the economy is now in a stronger position. Although the recent Middle East conflict will affect growth, forecasts still predict continued economic expansion in 2026 under realistic scenarios.
Tags: Nicola Willis Finance Minister New Zealand GDP Stats NZ economy growth inflation interest rates Middle East conflict economic forecastNZ Economy Shows Growth in Late 2025 Despite Global Uncertainties
1 week ago | 140 viewsEconomic data shows New Zealand's economy grew by 0.2% in the December quarter, with a 1.1% increase in the second half of 2025 after a flat first half. Finance Minister Nicola Willis notes that despite volatility and recent Middle East conflicts, the economy is starting from a stronger position than in previous years. While the conflict may impact growth, forecasts still predict continued economic growth in 2026 under realistic scenarios.
Tags: Nicola Willis Finance Minister Stats NZ Gross Domestic Product New Zealand economy economic growth inflation interest rates Middle East conflict economic forecastGuardians of NZ Superannuation Appoint Two New Members to Nominating Committee
3 weeks ago | 199 viewsTwo experienced corporate leaders, Tim Mitchell and Juliet Tainui-Hernandez, have been appointed to the nominating committee for the Guardians of New Zealand Superannuation, alongside the reappointment of Chair Michelle Tsui and member Mark Butcher. The committee is responsible for identifying and recommending qualified candidates for the Guardians Board, which oversees the NZ Super Fund and Elevate NZ Venture Capital Fund. Mitchell and Tainui-Hernandez bring extensive expertise in governance, recruitment, risk management, and global investment, with their terms starting on March 1, while Tsui and Butcher have served since 2018.
Tags: Nicola Willis Tim Mitchell Michelle Tsui Mark Butcher Guardians of New Zealand Superannuation NZ Super Fund Elevate NZ Venture Capital Fund nominating committee Finance MinisterGovernment to Invest $200M in Genesis Energy to Boost NZ Energy Security
1 month ago | 249 viewsThe Government will invest up to $200 million in new Genesis Energy shares to support secure, affordable energy and maintain a 51% Crown ownership. This investment aims to enhance energy security by enabling Genesis to increase flexible capacity and strengthen the long-term value of the state-owned asset. It is part of a broader Government initiative to improve energy reliability and reduce living costs for New Zealanders.
Tags: Nicola Willis Simeon Brown Simon Watts Genesis Energy Government Finance Minister State Owned Enterprises Minister Energy Minister New Zealand Crown investmentGovernment Invests $4M for Bisset Road Social Housing Infrastructure in Kaikohe
1 month ago | 307 viewsThe Government is investing $4 million from the Regional Infrastructure Fund to support essential infrastructure for the Bisset Road social housing project in Kaikohe, which will provide up to 100 affordable rental homes with rents capped at 80 percent of market rates for 25 years. The project, led by Te Hau Ora o Ngāpuhi Limited, aims to create local jobs, apprenticeships, and strengthen regional supply chains by using local timber and contractors. Additional funding includes a $29.7 million grant from the Ministry of Housing and Urban Development and a $13.6 million loan from Community Finance, with infrastructure work underway and the entire development expected to finish by 2027.
Tags: Shane Jones Tama Potaka Ngāpuhi Te Hau Ora o Ngāpuhi Te Runanga a Iwi o Ngāpuhi Regional Infrastructure Fund Ministry of Housing and Urban Development Community Finance Kaikohe Bisset RoadNew Zealand Job Growth Boosts Economy as Unemployment Rate Slightly Rises
1 month ago | 309 viewsFinance Minister Nicola Willis highlights that an additional 15,000 people gained jobs in New Zealand in the last quarter of the year, alongside increased hours worked and job-seeking activity, indicating a growing economy. Although the unemployment rate rose slightly to 5.4%, it remains below Treasury forecasts, with expectations of a future decline as economic recovery continues. Additionally, the proportion of young people not in education, training, or employment decreased, reflecting positive outcomes from government efforts to support business growth and employment.
Tags: Nicola Willis New Zealand Finance Minister Stats NZ unemployment rate Treasury economy employment youth employment business confidence2026 Budget Preview: Focus on Core Services and Fiscal Responsibility
1 month ago | 344 viewsThe Government will present its 2026 Budget on 28 May, focusing on supporting core public services such as health care, education, defence, and law and order. Finance Minister Nicola Willis emphasizes tight control of discretionary spending, prioritizing limited commitments without excessive expenditure. The Budget aims to deliver savings and reprioritize existing funds to maintain essential services while restoring fiscal responsibility.
Tags: Government 2026 Budget Finance Minister Nicola Willis public services health care education defence law and order public financesStrong Q3 Economic Growth Boosts Confidence Ahead of Christmas, Says Finance Minister
3 months ago | 625 viewsFinance Minister Nicola Willis welcomed the strong 1.1% economic growth in the third quarter, driven by 14 of 16 sectors, signaling a positive turnaround after challenging years. Key job-rich sectors like manufacturing, construction, and business services showed significant growth, alongside increases in exports and investment, indicating promising future job prospects and higher incomes. With GDP per capita rising 0.9% and forecasts predicting accelerated growth and lower unemployment next year, the government’s strategy to strengthen the economy appears effective.
Tags: economy growth Nicola Willis Finance Minister Stats NZ Treasury Reserve Bank manufacturing sector construction business services GDP per capitaReserve Bank Eases Capital Requirements to Boost NZ Bank Competition and Lending
3 months ago | 490 viewsFinance Minister Nicola Willis has welcomed the Reserve Bank’s decision to ease some capital requirements imposed on banks in 2019, including adjustments to risk weights. These changes aim to enhance competition, particularly benefiting smaller banks and increasing lending to key sectors like agriculture. The revised requirements maintain prudence while promoting a more balanced approach between risk management and fostering competition, with gradual implementation planned.
Tags: Nicola Willis Reserve Bank Finance Minister New Zealand banking sector capital requirements risk weights competition lending agriculture sectorNew Zealand's Planning Reform Boosts Growth, Cuts Costs, and Modernizes Laws
3 months ago | 411 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 growthAustralia-New Zealand 2+2 Dialogue: Advancing Climate Action and Renewable Energy Cooperation
3 months ago | 354 viewsOn 5 December 2025, Australia and New Zealand held their third Climate and Finance Ministers’ 2+2 Dialogue, emphasizing collaboration on climate action, renewable energy investment, and regulatory alignment to lower energy costs, enhance security, and capitalize on economic opportunities from the net zero transition. They committed to joint initiatives including upgrading energy efficiency programs, aligning EV and battery standards, supporting sustainable aviation fuel development, and advancing sustainable finance frameworks to boost trade and investment. Additionally, the ministers reinforced their partnership in supporting Pacific resilience, coordinating economic reforms, and fostering regional cooperation to address climate impacts and promote long-term prosperity.
Tags: Nicola Willis Simon Watts Jim Chalmers Chris Bowen Climate Change Renewable Energy Net Zero Sustainable Finance Pacific PartnershipRegulatory Standards Bill: Enhancing Transparency and Accountability in New Zealand Law
4 months ago | 487 viewsRegulation Minister David Seymour celebrates the passing of the Regulatory Standards Bill, emphasizing its importance in revealing the true costs of regulations to the public and reducing regulatory burdens through political pressure. The bill aims to enhance transparency and accountability in legislation by establishing a Regulatory Standards Board to assess consistency with principles of responsible regulation. By promoting evidence-based policy and providing recourse for individuals affected by overreaching regulations, the bill ultimately seeks to improve New Zealand's productivity and empower citizens to hold decision-makers accountable.
Tags: Regulation Minister David Seymour Regulatory Standards Bill Kiwis’ rights Public Finance Act Reserve Bank Act Bill of Rights Act Regulatory Standards Board Regulatory Impact Statements Earthquake Prone Buildings lawFamilyBoost Scheme Expands, Thousands of Households Benefit with $150+ Payments - Finance Minister Nicola Willis
4 months ago | 514 viewsThe FamilyBoost scheme has expanded, with over 11,500 households now receiving at least $150 a fortnight in payments. Families can claim larger rebates on early childhood education fees, leading to over 78,000 households benefiting from the program. The average payment for the September quarter is nearly $100 per fortnight, encouraging eligible households to apply through the IRD website.
Tags: FamilyBoost payments households scheme Finance Minister Nicola Willis rebates early childhood education New Zealanders young families