Articles tagged with Nicola Willis
New Zealand Enhances Screen Production Rebate to Boost Global Competitiveness
3 days ago | 79 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 competitionNew Zealand Labour Market Update: Government's Economic Rebuilding Efforts Highlighted
4 days ago | 96 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 ZealandersInnovative AgriZeroNZ Investment: Wearable Device to Cut Agricultural Emissions and Boost Farm Productivity
6 days ago | 77 viewsThe Government and industry have invested $1.2 million through AgriZeroNZ to develop a wearable device for cows that can significantly reduce nitrous oxide emissions and nitrate leaching on farms. This investment is part of AgriZeroNZ's efforts to accelerate the development of emissions reduction tools for farmers, aligning with the Government's goal of doubling export value in 10 years. The project by Canterbury start-up Āmua is just one of several innovative ventures supported by AgriZeroNZ, aiming to drive productivity, high-value jobs, and a future-ready economy through science, technology, and innovation.
Tags: Nicola Willis Shane Reti AgriZeroNZ Āmua Government Innovation Technology Science Agribusiness CanterburyFast-track Approvals Amendment Bill Boosts Grocery Competition for Kiwi Shoppers
6 days ago | 101 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 Government Boosts Crown Liquidity Facility for Local Government Financing
1 week ago | 130 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
3 weeks ago | 215 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 systemUnlocking Capital: Government to Sell Chorus Securities for Infrastructure Investment
1 month ago | 133 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 ZealandersGovernment Financial Progress: 2024/25 Statements Reflect Fiscal Discipline and Investment Boost
1 month ago | 135 viewsFinance Minister Nicola Willis highlighted the 2024/25 government financial statements, showcasing progress in restoring fiscal discipline. Key points include a decrease in core Crown expenses, steady net core Crown debt, and a better-than-forecast deficit in the operating balance. The Government's focus on savings has allowed for increased investment in key sectors while maintaining tax relief, with future plans to further reduce government spending as part of ongoing fiscal discipline efforts.
Tags: Government Financial Statements Nicola Willis GDP Crown Expenses Debt OBEGALx Fiscal Discipline Budget.New Zealand Boosts Local Businesses with Procurement Rule Changes
1 month ago | 194 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 companiesFinance Minister Hails OCR Cut, Easing Pressure on Kiwi Households and Businesses
1 month ago | 151 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 inflationGovernment Backs Community Housing Providers with New Loan Guarantee Scheme to Boost Social Homes
1 month ago | 199 viewsThe Government has introduced a new loan guarantee scheme to support community housing providers in delivering more social homes at a lower cost, with banks providing debt financing at reduced rates. This initiative aims to remove obstacles and inefficiencies in social housing delivery, with the Crown guaranteeing 80% of loans to eligible providers. The scheme, available until 2027, supports up to $900 million in new lending and refinancing, empowering community housing providers to expand and improve housing accessibility for those in need.
Tags: Government community housing providers loan guarantee scheme Nicola Willis Chris Bishop ANZ ASB BNZ Kiwibank WestpacNew FamilyBoost Scheme Expands Eligibility and Refunds for Kiwi Families
1 month ago | 186 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 RevenueGovernment Ensures Capital Support for Vital Electricity Infrastructure Investments in New Zealand
1 month ago | 215 viewsThe Government assures power companies it will provide capital for critical electricity infrastructure investments to ensure energy security and competitiveness. Measures include supporting equity injections for strategic projects and addressing gaps in the energy system to lower consumer prices. The Energy Package focuses on security of supply through LNG import facilities and building better markets by incentivizing new energy projects and strengthening regulatory bodies.
Tags: Government power companies investment electricity infrastructure Nicola Willis Crown MOM companies energy security Simon Watts New ZealandDr. Anna Breman Appointed as New Governor of New Zealand Reserve Bank
1 month ago | 198 viewsDr Anna Breman, First Deputy Governor of Sweden's central bank, has been appointed as the new Governor of the Reserve Bank of New Zealand by Finance Minister Nicola Willis. Dr Breman brings a strong background in economics, having held leadership roles at the Riksbank and Swedbank, and worked with various institutions including the World Bank. She was selected from a pool of 300 candidates based on criteria such as leadership skills, technical expertise, stakeholder engagement, resilience, and cultural understanding. Dr Breman's appointment is for a five-year term starting on December 1, succeeding Christian Hawkesby who will support her transition before leaving his interim Governor role.
Tags: Dr Anna Breman Nicola Willis Sweden New Zealand Riksbank Stockholm School of Economics Swedbank World Bank United States Christian HawkesbyNew Skilled Migrant Residence Pathways to Boost Kiwi Businesses
1 month ago | 347 viewsThe New Zealand Government is introducing two new skilled migrant residence pathways to help businesses attract and retain the workforce they need. These pathways include the Skilled Work Experience pathway for migrants with at least five years of relevant work experience and the Trades and Technician pathway for migrants with specified qualifications and work experience. The government aims to balance attracting higher-skilled workers with managing migration levels responsibly, prioritizing New Zealanders for jobs, and ensuring that skilled and experienced migrants are placed in occupations where they are most needed.
Tags: Kiwi businesses Government Nicola Willis skilled migrant residence pathways Economic Growth Minister Immigration Minister Erica Stanford skilled workers New Zealanders immigration solutions