As New Zealand prepares to move out of the strictest lockdown status, we need to ask a wider question: What kind of economy to we want to build? Iain White writes. Like you, I want things to go back to the way they were. I crave normality. I miss my morning coffee from my local … Read more
The government provided a $12.1 billion stimulus package to cushion the blow of Covid-19. The NZIER public good team explains where that money is coming from, and how the whole thing works. Normal life is on hold. Buying and selling across New Zealand has ground to a standstill. While most of us attempt to do … Read more
The government’s extraordinary measures to halt Covid-19 and support the economy have had extraordinary public support. Tony Burton argues that the hard choices about who pays for it will be far less popular. I have lived with a skeleton since the lockdown. It’s white and shiny and takes up half the space in my living … Read more
From the reemerging debate around capital gains tax to the increasing reach of tax authorities, Terry Baucher, writing for interest.co.nz, looks at a number of implications the coronavirus pandemic could have on the tax system. “There are decades when nothing happens and there are weeks when decades happen,” Lenin is said to have remarked, possibly … Read more
Good morning and welcome to The Bulletin. In today’s edition: Debate over leaving lockdown fires up, how the tax system could change after Covid-19, and concerns as cyclone bears down on Vanuatu. Over the last few days, a debate has started to fire up about leaving level four restrictions, and restarting some of the economic activity … Read more
We needed a reasonable period of time to allow the recent surging wave of highly geared first home buyers to get financially comfortable. We didn’t get it, writes David Hargreaves of interest.co.nz. You know, I was really beginning to think (as well as hope) that we might just get away with it. By ‘it’ I mean the … Read more
Alice Webb-Liddall speaks to RNZ business editor Gyles Beckford about the language of markets and economics in relation to Covid-19. Let me start by saying I am in no way a business journalist. I enjoy having money but the technicalities of how it works both before and after it’s in my bank account are mysterious … Read more
The government has announced a huge $12bn economic plan aimed at cushioning the impact of Covid-19 on New Zealand workers and the wider economy. We asked a range of commentators for their reaction. Arthur Grimes: NZ’s history of fiscal surpluses might just save the day The Covid-19 pandemic is the biggest economic shock to hit … Read more
Good morning and welcome to The Bulletin. In today’s edition: New travel restrictions make Covid-19 recession all but certain, further cases of the virus confirmed, and March 15 commemoration called off. Major new travel restrictions were announced over the weekend, making a recession this year all but certain to happen. Toby Manhire has put together the essential … Read more
Trying to directly assist individual firms is a fool’s errand. Monetary policy is approaching its limits. We need to look to bigger, aggressive action, writes former Reserve Bank economist Michael Reddell. The economic implications of the Covid-19 public health emergency are formidable, and are growing by the day. Most of what we’ve seen in New … Read more
The Covid-19 coronavirus continues to tax New Zealand’s economy with crippled exports and stagnant manufactures choking supply chains. But what’s the reality at the front line of New Zealand retail – the malls? Take a stroll through any Westfield mall and you’re not likely to find grim scenes of desolate stores with bare shelves. Despite … Read more
After years of trying, The Spinoff today launches Money – its newest section, one aimed at demystifying and making accessible the world of money. For decades, the relationship between most New Zealanders and money was broadly stable, baked into a set of milestones it was assumed all aspired to and would achieve if they strived. … Read more
Good morning, and welcome to The Bulletin. In today’s edition: GDP growth slows in the latest quarter, questions raised over utter NZDF incompetence, and NZTA sends money intended for light rail elsewhere. The numbers are in, and GDP growth has slowed down for the second quarter of the year. Radio NZ reports it is the slowest level … Read more
Good morning, and welcome to The Bulletin. In today’s edition: Complicated picture from economic confidence surveys, justice minister hammers Google over name suppression, and drinking water falling below standards. Business confidence, which has been low throughout this government’s term, has plunged to fresh depths. In fact, as Stuff reports, the headline figure is the lowest it has been … Read more
Last week Treasury hosted a ‘social lab’ which used decks of cards to explore ideas around wellbeing. Danyl Mclauchlan went along Fiona Ross is a thought leader in the public service; an articulate and engaging public speaker. She stands at the front of the room: a seminar space on the third floor of Treasury. The … Read more
Good morning, and welcome to The Bulletin. A brief note to start today’s edition: The aftermath of the Christchurch mosque attacks will always be an important set of stories to tell. Further down in today’s edition are the most important developments on that from the weekend. However, many other stories from last week need to be caught … Read more
Ignorance of the facts of genetic modification poses an economic risk to New Zealand, writes a professor of plant biology. There is a new agricultural-based green revolution beginning around the world, and it’s a technique you’ve probably heard of before: gene editing. New types of rice, wheat, tomato, maize, soybean and other crops created through the … Read more
An unexpectedly high growth number might herald the end of a harsh winter for the government, writes Duncan Greive. A toxic combination of the oozing Curran-Handley wound, fear-mongering business confidence surveys and Winston Peters stumbling around like the last guest at a wedding have made this a bad week, worse month and generally infuriating winter … Read more
Good morning, and welcome to The Bulletin. In today’s edition: Government gets timely economic figures boost, Whaitiri’s ministerial career is over, and tax working group hedges bets on capital gains. Sometimes the news just comes at you fast, and yesterday was one of those days. For the government, some of it was the best of times, and … Read more
Auckland has long been NZ’s economic engine, but these days the rest of the country’s doing pretty well too – and maybe even better, says Kiwibank’s chief economist Jarrod Kerr. In Auckland, things are starting to get a little chilly, not just in terms of the weather, but economically too – migration is cooling and … Read more
GDP came out today, and it was fine – but that’s yesterday’s sales. The real question is, how does business feel about the future? It sounds a bit like one of those earnest startup pitches. Gross domestic product (GDP) provides a snapshot of the performance of the economy. GDP is New Zealand’s official measure of economic growth. GDP … Read more
After years of disappointing wage growth, and income growth more broadly, are the stars aligned for a lift? We all know it. It’s the feeling of busting your gut day-in day-out to finally get to payday, only to feel when you wrest open that little payslip, defeated and a little deflated: I worked all those … Read more
The finance minister is about to find out just how difficult it is to keep both constituents and political allies happy, writes Massey University’s Grant Duncan. Global media have shown a great deal of interest in New Zealand’s third woman prime minister, Jacinda Ardern, and they eagerly anticipate the imminent arrival of her baby. Less … Read more
Today’s Māori organisations are the result of decades of Māori being forced into corporate structures that don’t fit. It’s time to rethink them, writes Joshua Hitchcock. The accountability of Māori organisations to their members was back in the news in April, with several stories highlighting unjustified spending and unaccountable governance structures. It is always disheartening … Read more
In his previous column Joshua Hitchcock looked at the alarmingly low employment rate for Māori. Here he searches for some solutions. Research in the United States on the effect of institutional racism in hiring practices show that a black man without a criminal record is less likely to secure a job offer as a white … Read more
Thirty years of economic reform and the gap between Māori and Pākehā employment rates is wider than ever, says business columnist Joshua Hitchcock. I have never experienced unemployment. Since graduating in 2007 I have always found a job when I wanted one. That is not to say I have always worked these past 10 years. … Read more
Jihee Junn takes a look at some nifty graphs from ATEED’s latest report and gleans some interesting insights about the city’s economy and future. *Update: a previous version of this article used outdated information from ATEED regarding Auckland’s ethnic makeup. ATEED has now updated the graph and figures in its report. Last week, Auckland Tourism, … Read more
We are all over it, aren’t we, this election that won’t quit. But is it also bad for business? Kirk Hope of BusinessNZ asks whether a longer cycle between voting would be better for all of us. The last time New Zealand had a full debate about the pros and cons of a three-year parliamentary … Read more
Joshua Hitchcock looks at the Māori Party initiatives most at risk from a new government: the Whānau Ora health programme and the Māori land law reforms. The votes are in, negotiations are underway, and while we enjoy the peaceful interregnum between the election and the formation of a new government, the election results have sent … Read more