Articles tagged with Nicola Willis
New Zealand Government Monetises $702M Chorus Debt to Fund Key Infrastructure Projects
2 days ago | 94 viewsThe New Zealand Government has entered binding agreements to monetise $642 million of interest-free loans provided to Chorus for fibre broadband rollout, generating net proceeds of approximately $702 million. This early monetisation enables reinvestment in critical infrastructure projects such as roads, hospitals, and schools, supporting economic growth and addressing the country's infrastructure deficit. The transaction does not affect Chorus ownership or services and reflects the Government’s commitment to disciplined public finances and strategic infrastructure investment.
Tags: Nicola Willis Chris Bishop Chorus The Crown New Zealand NIFFCo Finance Minister Infrastructure Minister Budget 2026James Miller Appointed Chair of New Zealand's Financial Markets Authority
2 days ago | 84 viewsFinance Minister Nicola Willis and Commerce Minister Cameron Brewer announced James Miller as the new chair of the Financial Markets Authority (FMA) for a five-year term starting August 6, highlighting his extensive experience in capital markets and governance. The government aims to reform New Zealand's capital markets by reducing costs and complexity to encourage local listings and strengthen KiwiSaver balances, with the FMA now overseeing consumer credit regulation as a single financial markets conduct regulator. Additionally, Trevor Janes was appointed to the FMA board for two years, both bringing significant expertise to support the FMA's role in promoting fair, efficient, and transparent financial markets.
Tags: Nicola Willis Cameron Brewer James Miller Trevor Janes Steven Bardy Financial Markets Authority NZX KiwiSaver New Zealand Order of Merit NZ RegCoNew Zealand Launches Industry-Led Secondary Subjects for Future Careers from 2029
3 days ago | 142 viewsNew Zealand is launching industry-led, future-focused secondary school subjects from 2029 to better align education with emerging job markets in sectors like manufacturing, energy, health, and tourism. These subjects, developed with industry input and valued equally to traditional subjects, aim to equip students with practical skills and clear pathways into trades, university, or employment, supported by a $15 million investment. The initiative fosters student engagement by connecting learning to real-world careers, benefiting both employers seeking skilled workers and students preparing for rewarding futures.
Tags: Nicola Willis Erica Stanford Applied Intelligent Systems Construction and Built Environment Energy and Infrastructure Engineering Technology Food and Fibre Systems Health Services and Care Hospitality Food and BeverageNZ Labour Market Q2: Rising Unemployment Spurs Focus on Growth & Investment
3 days ago | 95 viewsFinance Minister Nicola Willis acknowledges the second quarter was challenging for New Zealand's labour market, with rising costs and uncertainty causing employers to pause hiring, resulting in a 5.6% unemployment rate. The government is focusing on policies to boost economic growth and business confidence, including support for tourism, international education, major construction projects, infrastructure investment, and the Investment Boost initiative. These measures aim to encourage employers to invest and expand, fostering long-term job creation rather than quick fixes.
Tags: New Zealand labour market unemployment Nicola Willis economy business confidence tourism international education construction projects Investment BoostCommunities Lead the Future of Social Services in Ōpōtiki, Porirua & West Coast
3 days ago | 83 viewsThe New Zealand Government has selected communities in Ōpōtiki, Porirua, and the West Coast to pilot Community-led Commissioning, allowing local leaders to design and manage social services tailored to their areas while being held accountable for outcomes. These groups will focus on addressing specific local priorities such as breaking cycles of disadvantage, securing housing, improving access to healthy food, and connecting health and social support across isolated regions. The initiative aims to replace centralized decision-making with community-driven solutions, with plans subject to Ministerial approval and the goal of expanding the approach nationwide if successful.
Tags: Nicola Willis Toi Rāwhiti Whakatōhea Ngāi Tai Te Whānau ā Apanui Ngāti Toa Rangatira Te Tauraki Pōkeka Poutini Ngāi Tahu Ngāti Waewae MakaawhioNew Zealand Launches Gas Transition Loan Guarantee Scheme to Support Businesses
1 week ago | 133 viewsThe Gas Transition Loan Guarantee Scheme, launched by the New Zealand government, aims to help businesses reduce reliance on gas by providing loan guarantees covering 80% of default risk, enabling banks to offer better lending terms and unlock up to $1.2 billion in financing. This initiative supports regional industries facing high gas prices and supply uncertainty by promoting energy efficiency and alternative energy investments to maintain competitiveness and protect jobs. Additionally, the Energy Efficiency and Conservation Authority offers independent support to help businesses assess energy options and plan practical transitions.
Tags: Nicola Willis Simeon Brown Shane Jones Gas Transition Loan Guarantee Scheme New Zealand Energy Efficiency and Conservation Authority ANZ ASB BNZ KiwibankMBIE Biometric Project Cost Overruns Spark Independent Audit and Inquiry
1 week ago | 149 viewsThe Ministry of Business, Innovation and Employment (MBIE) ceased the seven-year Biometric Capability Upgrade project in December 2025, initially reporting $33 million in costs written off. Subsequent reviews revealed discrepancies in MBIE’s financial reporting, leading to the identification of an additional $6 million in project costs and prompting the commissioning of an independent financial audit. The matter has been referred to the Michael Heron inquiry and the Public Service Commissioner to investigate MBIE’s financial controls and potentially expand the inquiry’s scope.
Tags: Biometric Capability Upgrade Ministry of Business Innovation and Employment MBIE Greg James Education and Workforce Committee Nicola Willis Michael Heron Public Service Commissioner financial audit Cabinet scrutinyGovernment Delivers 3,000 New Social Homes in Auckland Ahead of Schedule
1 week ago | 136 viewsThe Government has surpassed its 2023 election commitment by delivering over 3,000 additional social homes in Auckland ahead of schedule, with a focus on meeting the needs of those requiring one- and two-bedroom properties, particularly in South and West Auckland. Kāinga Ora and Community Housing Providers contributed significantly to this achievement, which forms part of more than 8,400 new social homes delivered nationwide since November 2023. Ongoing investments through Budgets 2024 to 2026 aim to sustain a long-term pipeline of quality, fit-for-purpose social housing across New Zealand.
Tags: Chris Bishop Nicola Willis Kāinga Ora Community Housing Providers Auckland New Zealand Housing Minister National Party Social Housing GovernmentFamilyBoost Payments Support Over 97,500 NZ Families with Childcare Costs
1 week ago | 119 viewsOver 97,500 New Zealand families have received FamilyBoost payments, which were expanded last year to increase the rebate from 25% to 40%, raise the maximum weekly payment to $120, and extend eligibility to households earning up to $229,000 annually. These changes have resulted in a 70% increase in average payments, helping over 12,000 families each quarter to better manage early childhood education costs and balance work and family life. The government encourages eligible families to register for FamilyBoost, emphasizing its role in supporting working parents and strengthening the economy by easing childcare cost pressures.
Tags: FamilyBoost Nicola Willis New Zealand early childhood education childcare costs working parents Finance Minister government support Inland Revenue family paymentsNZ Inflation Hits 4.1% Due to Oil Price Surge; Govt Emphasizes Fiscal Discipline
2 weeks ago | 231 viewsToday’s inflation rate of 4.1% is largely driven by a global oil price shock, with petrol and diesel prices rising significantly, while core inflation remains within the Reserve Bank's target range. Finance Minister Nicola Willis emphasizes the Government’s prudent response, including targeted support for those most affected by fuel costs and maintaining fiscal discipline to avoid exacerbating inflation. Despite global volatility, New Zealand’s economy is projected to grow steadily with job creation and wages outpacing inflation, supporting long-term affordability and resilience.
Tags: Nicola Willis Finance Minister Stats NZ Consumers Price Index inflation petrol prices diesel prices Reserve Bank New Zealand Government Middle East conflictNew Zealand Launches Strategic Diesel Reserve with Refurbished Marsden Point Tanks
1 month ago | 291 viewsTwo refurbished tanks at Northland’s Marsden Point are now operational to store New Zealand’s strategic diesel supply, following a $21.6 million government investment to enhance fuel resilience amid global uncertainties. Z Energy was selected to supply and manage the 90 million litre diesel reserve, with the Crown controlling its release to ensure national security without affecting Z Energy’s stockholding obligations. The first diesel shipment has arrived, with the second expected soon, and fuel stock reporting will resume its regular weekly schedule as global conditions stabilize.
Tags: Nicola Willis Shane Jones Christopher Luxon Rob Buchanan Z Energy Marsden Point New Zealand Channel Infrastructure Regional Infrastructure Fund MBIENZ Government Accounts Show Stronger Economy with Higher Revenue and Lower Deficit
1 month ago | 377 viewsThe latest government accounts reveal stronger-than-expected core Crown revenue and lower expenses, indicating an improving economy. Corporate tax revenue rose by $700 million, reflecting increased business profitability, and the deficit was $3 billion lower than forecast. Despite recent challenges like the Middle East conflict, economic indicators such as falling oil prices, rising business confidence, and increased exports suggest the economy is regaining momentum.
Tags: Nicola Willis Finance Minister New Zealand government accounts economy Crown revenue corporate tax OBEGALx Middle East conflict inflation expectationsKiwiSaver Contribution Increase Boosts Retirement Savings for 1.8 Million Kiwis
1 month ago | 383 viewsNearly 99.5% of KiwiSaver contributors have accepted the increased default contribution rate from 3% to 3.5%, enhancing their retirement savings and financial security. This change affects about 1.8 million employees, with contributions rising from 6% to 7% of wages when including employer matches, and will increase further in 2028. The higher contributions are projected to significantly boost retirement funds, helping young New Zealanders both in retirement and in purchasing their first homes.
Tags: KiwiSaver Nicola Willis New Zealand retirement contribution rates financial security superannuation wages property ladder employee deductionsNZ Economy Grows Strongly in Q1 2026 with GDP Up 0.8% Amid Global Uncertainty
1 month ago | 512 viewsNew Zealand's economy showed strong momentum in the March 2026 quarter, growing 0.8%, nearly three times faster than Australia and twice as fast as the US, with GDP per capita and real purchasing power also rising. This growth reflects the resilience of New Zealanders amid challenging conditions and was supported by business investment and government policies, though uncertainty from the Middle East conflict may impact future growth. Despite short-term caution, the government remains focused on fiscal responsibility and expects economic growth to strengthen over time, leading to more jobs and higher incomes.
Tags: Nicola Willis Stats NZ New Zealand Australia United States Treasury Budget 2026 Middle East Kiwis Investment BoostAgriZeroNZ Launches $51M Early Adoption Accelerator to Boost NZ Farm Tech
1 month ago | 502 viewsThe Government and industry have jointly launched the AgriZeroNZ Early Adoption Accelerator, contributing up to $51 million each to support the rollout of innovative farm technologies that enhance New Zealand farmers' competitiveness and emissions efficiency. This co-funded program focuses on practical, scalable solutions, building on prior investments in emissions-reducing research, with tools like EcoPond already available and more technologies expected soon. AgriZeroNZ invites companies and industry groups to participate in projects over the next three years, aiming to provide farmers with diverse technology choices tailored to their operations.
Tags: AgriZeroNZ Nicola Willis Todd McClay Early Adoption Accelerator New Zealand farmers farm technologies emissions reduction EcoPond agriculture innovation Crown funding