Articles tagged with Finance
Strong Q3 Economic Growth Boosts Confidence Ahead of Christmas, Says Finance Minister
1 week ago | 100 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
1 week ago | 85 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
2 weeks ago | 129 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
2 weeks ago | 108 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
1 month ago | 232 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
1 month ago | 244 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 familiesGovernment Accepts Banking Competition Recommendations for Increased Innovation and Consumer Benefits
1 month ago | 158 viewsThe Government has accepted or partially accepted all recommendations from the Finance and Expenditure Committee's inquiry into banking competition, focusing on business, rural banking, and lending to Māori entities. The findings highlighted concerns about high banking profitability, market concentration, barriers to entry, and regulatory settings, aligning with the Commerce Commission's report. Actions include allowing Kiwibank's parent company to raise capital, emphasizing banking competition in policies, encouraging standardization of financial information, disclosing account profitability, expanding regulatory sandbox trials, developing a licensing model for innovation, and coordinating monitoring through the Treasury.
Tags: Government Finance and Expenditure Committee Nicola Willis Commerce Commission Kiwibank Reserve Bank Scott Simpson Financial Markets Authority Treasury Māori.New Zealand Labour Market Update: Government's Economic Rebuilding Efforts Highlighted
1 month ago | 237 viewsLabour market statistics released today show a slight increase in unemployment to 5.3% in the September quarter, aligning with forecasts. The Finance Minister emphasizes the government's commitment to rebuilding the economy and creating more job opportunities for New Zealanders. Efforts include reducing taxes, boosting investments, and supporting businesses to drive economic recovery and job growth.
Tags: Labour market statistics Government Economy Job opportunities Kiwis Finance Minister Nicola Willis Stats NZ Unemployment New ZealandersNew Zealand Government Boosts Crown Liquidity Facility for Local Government Financing
1 month ago | 334 viewsThe Government is increasing and extending the Crown Liquidity Facility (CLF) for the New Zealand Local Government Funding Agency Limited (LGFA) to support local government borrowing. The CLF helps LGFA secure competitively priced financing for local authorities during exceptional circumstances. The facility, established in 2011 and never used, is being raised to $3 billion and extended to June 2037 to assist in financing critical infrastructure and public services.
Tags: Government Crown Liquidity Facility New Zealand Local Government Funding Agency Limited Finance Minister Nicola Willis financing infrastructure public services Global Financial Crisis councilsReserve Bank Eases Lending Restrictions for First Home Buyers, Finance Minister Welcomes Move
2 months ago | 323 viewsFinance 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.
Tags: Finance Minister Nicola Willis Reserve Bank lending restrictions first home buyers property ladder Kiwis loan to value DTI restrictions banking systemFinance Minister Hails OCR Cut, Easing Pressure on Kiwi Households and Businesses
2 months ago | 235 viewsFinance 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.
Tags: Official Cash Rate Kiwi households Finance Minister Nicola Willis monetary policy interest rates growth jobs investment inflationNew FamilyBoost Scheme Expands Eligibility and Refunds for Kiwi Families
2 months ago | 306 viewsThe 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.
Tags: Nicola Willis FamilyBoost ECE early childhood education Government Finance Minister households eligibility refunds Inland RevenueAndrew Barclay Appointed as TVNZ Board Chair by Minister Paul Goldsmith
2 months ago | 280 viewsAndrew Barclay has been appointed as the new TVNZ Board Chair by Minister for Media and Communications Paul Goldsmith, with a professional career in global investment banking. His skills will provide strong oversight of financial performance and strategic decision-making for TVNZ. Barclay will join the TVNZ Board on November 3, succeeding Alastair Carruthers, who has chaired the Board since 2023.
Tags: Andrew Barclay TVNZ Board Chair Minister for Media and Communications Paul Goldsmith global investment banking finance financial performance public broadcaster TVNZ Board Alastair CarruthersFinance Minister Appoints Hayley Gourley to Reserve Bank's Monetary Policy Committee
3 months ago | 305 viewsFinance 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.
Tags: Finance Minister Nicola Willis Hayley Gourley Reserve Bank Monetary Policy Committee Official Cash Rate OCR New Zealand agribusinesses Professor Bob BuckleGlobal Uncertainty Impacts Economy: Minister Willis on Latest Stats NZ Data
3 months ago | 383 viewsFinance 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.
Tags: Economic data global uncertainty consumers businesses Finance Minister Nicola Willis Gross Domestic Product tariffs investment decisions interest rates