Articles tagged with Nicola Willis
Dr. Anna Breman Appointed as New Governor of New Zealand Reserve Bank
1 day ago | 66 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
2 days ago | 149 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 solutionsFinance Minister Appoints Hayley Gourley to Reserve Bank's Monetary Policy Committee
1 week ago | 104 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
1 week ago | 107 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 ratesEnhanced FamilyBoost Program to Benefit Thousands of Households with Early Childhood Education Costs
1 week ago | 73 viewsStarting next month, tens of thousands of households will receive increased support for early childhood education through the expanded FamilyBoost scheme, as announced by Finance Minister Nicola Willis. The legislation for the expanded ECE support scheme has passed through Parliament, with Labour reversing its position to support the enhanced FamilyBoost. Changes include increasing the proportion of ECE fees families can claim from 25 to 40 percent, raising the household income limit for FamilyBoost, and making about 21,000 more households eligible for assistance.
Tags: Nicola Willis FamilyBoost ECE households Labour scheme entitlement Income Tax Act Inland RevenueNew Commerce Act Amendments Boost Public Protection and Business Certainty
1 week ago | 82 viewsThe Government is updating the Commerce Act after nearly 20 years to enhance protection for the public and provide more certainty for businesses, focusing on promoting competition, innovation, and fair markets. Key changes include preventing unfair tactics, clearer merger rules, strengthening the Commerce Commission, and facilitating beneficial collaborations among businesses. The amendments aim to ensure the Commerce Commission is more effective, separate governance and regulatory functions, and give the Commission stronger tools to assess mergers and competition concerns, ultimately promoting fairer markets and consumer choice.
Tags: Government Commerce Act Economic Growth Minister Nicola Willis Commerce and Consumer Affairs Minister Scott Simpson Competition Innovation Commerce Commission Collaboration Mergers ConsumersFinance Minister Thanks Departing Reserve Bank Chair for Service
3 weeks ago | 151 viewsFinance Minister Nicola Willis thanked departing Reserve Bank Chair Neil Quigley for his long service, acknowledging his contributions over 15 years as a board member and nine as Chair. Quigley resigned immediately, citing the completion of key tasks and the timing being right for a transition to a new Chair. Deputy Chair Rodger Finlay will temporarily assume the Chair's duties until a permanent appointment is made, and the vacancy on the board left by Quigley will be filled in the future.
Tags: Finance Minister Nicola Willis Reserve Bank Chair Neil Quigley board member Chair resignation funding agreement capital settings new GovernorNew Zealand Government Initiates Breakthrough Measures to Boost Supermarket Competition
4 weeks ago | 278 viewsThe Government plans urgent legislative and policy changes to remove barriers for competitor supermarkets in New Zealand, aiming to boost competition and offer better deals for consumers. These changes include fast-track approvals for new supermarkets, streamlining building consent processes, and amending regulations to combat predatory pricing. The initiative aims to encourage new domestic competitors and potential international retailers like Costco to expand in New Zealand, with further considerations on potentially restructuring major supermarket players Foodstuffs and Woolworths to enhance market competition.
Tags: Government supermarkets New Zealand legislative changes Nicola Willis competition Kiwi shoppers zoning regulations grocery sectorNew Social Investment Fund Targets At-Risk Children for Positive Change
1 month ago | 234 viewsThe Social Investment Fund, recently launched by Social Investment Minister Nicola Willis, targets children facing challenging family or schooling situations, such as those with incarcerated parents or who have been suspended from school early. Data-driven evidence supports the approach of intervening early to improve outcomes for these vulnerable groups, benefitting both individuals and society as a whole. With a budget of $190 million over four years, the Fund aims to invest in effective solutions, empower community organizations, and measure the impact of interventions transparently.
Tags: Social Investment Fund Nicola Willis children parents jail care system school data evidence outcomesNew Social Investment Fund Targets At-Risk Children for Positive Impact
1 month ago | 227 viewsThe Social Investment Fund, recently launched by Social Investment Minister Nicola Willis, targets children facing challenging family or school situations, such as those with incarcerated parents or who have been suspended from school before age 13. By investing in these priority groups, the fund aims to improve outcomes for individuals and communities, based on data showing early intervention can lead to better long-term results and cost savings for the government. With a budget of $190 million over four years, the Fund emphasizes evidence-based approaches and transparent impact measurement, empowering organizations to make targeted investments that work.
Tags: Social service providers opportunity change lives Social Investment Fund Nicola Willis children parents schooling situations data evidenceNew Social Investment Fund Targets Vulnerable Children for Positive Impact
1 month ago | 205 viewsThe Social Investment Fund, recently launched by Social Investment Minister Nicola Willis, targets children facing challenging family or educational circumstances, including those with parents in jail or who have been in the care system. Data-driven evidence supports early intervention for these children to improve outcomes and reduce long-term government costs. The Fund, with a budget of $190 million over four years, aims to invest in effective strategies, empower community organizations, and measure the impact of interventions transparently.
Tags: Social Investment Fund Nicola Willis children parents school data evidence outcomes government support communitiesNew Capital Settings Proposals Aim to Boost Competition in New Zealand Banking Sector
1 month ago | 381 viewsFinance Minister Nicola Willis supports the Reserve Bank's consultation on reviewing capital settings for banks and deposit takers to address concerns about impacts on competition, lending costs, and economic growth. The Minister's Financial Policy Remit emphasized the need to balance financial stability with competition, prompting the Bank to consider changes like aligning capital requirements with risk and adjusting overall capital ratio requirements to lower lending rates. The proposed changes aim to benefit smaller players in the market, reduce barriers for new entrants, and create a more competitive environment in the New Zealand banking sector.
Tags: Finance Minister Nicola Willis consultation Reserve Bank capital settings banking industry lending New Zealanders competition efficiencyGovernment Initiatives to Boost Banking Competition Unveiled by Finance Minister Nicola Willis
1 month ago | 206 viewsFinance Minister Nicola Willis has welcomed the release of the Finance and Expenditure Committee (FEC) Inquiry into banking competition, focusing on business, rural banking, and lending to Māori entities. The inquiry supports the Government's efforts to enhance competition in the banking sector for better services for Kiwis. The report, based on submissions from 148 stakeholders and public hearings, will be reviewed by the Government for proposed action items by November 2025.
Tags: Finance Minister Nicola Willis FEC Inquiry banking competition Government Commerce Commission Kiwis Kiwibank Reserve Bank financial stabilityHow Falling Interest Rates Benefit Growth, Businesses, Jobs, and Kiwis: Finance Minister's Insights
1 month ago | 187 viewsFinance Minister Nicola Willis highlights the benefits of falling interest rates, including support for growth, businesses, job creation, and mortgage holders. The Reserve Bank has reduced the Official Cash Rate (OCR) from 3.25 to 3 percent, with further decreases expected. Lower interest rates stimulate economic activity, reduce mortgage repayments, and are seen as a positive response to economic challenges, signaling improving conditions and effective economic management by the government.
Tags: interest rates growth businesses jobs Kiwis mortgages Finance Minister Nicola Willis Reserve Bank Official Cash RateFinance Minister Applauds Fitch Ratings for Preserving New Zealand's Strong Credit Rating Amid Borrowing Challenges
1 month ago | 249 viewsFinance Minister Nicola Willis is pleased with Fitch Ratings affirming New Zealand's AA+ credit rating, attributing it to the government's prudent financial management. Fitch acknowledges New Zealand's strong commitment to fiscal consolidation and warns that a deviation from this path could impact creditworthiness. Willis emphasizes the importance of maintaining fiscal responsibility to avoid a credit downgrade, which would raise government debt costs and potentially affect households and businesses.
Tags: Finance Minister Nicola Willis Fitch Ratings New Zealand credit rating borrowing public finances fiscal consolidation debt GDP