Good morning and welcome to The Bulletin. In today’s edition: Kiwibuild buyers left facing years of delays, calls for relaxation of alert levels and travel, and new details emerge in NZ First Foundation saga. Despite a reset of the policy last year, Kiwibuild is still proving to be problematic. A disastrous new story has emerged from One … Read more
One in three households are in financial difficulty and a greater number still at risk of tipping into hardship following the Covid crisis, finds a Commission for Financial Capability report. The Commission for Financial Capability has this morning published findings on the financial vulnerability of New Zealanders following the Covid crisis. And it makes for … Read more
How to stop procrastinating and actually (finally) get on top of KiwiSaver. Because there’s a good chance that if you’re reading this, you don’t know a single thing about it. Read the full series here. In a lot of ways, KiwiSaver is a bit of a misnomer. Sure you’re saving for your future retirement, but … Read more
How to stop procrastinating and actually (finally) get on top of KiwiSaver. Because there’s a good chance that if you’re reading this, you don’t know a single thing about it. Read the full series here. I don’t actually remember ever starting a KiwiSaver, and that’s because I didn’t – my parents started one for me. … 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
It’s surplus season again, and the two main parties are at each other’s throats about management of the national finances. But how unlike one another are they really? Put yourself to the test. There are undeniable differences in emphasis between the economic philosophies of Labour, National and the rest. For around five years, governments of … Read more
Every few years, as the Māori economy grows, someone floats the idea of an iwi-owned financial institution. The list of pros and cons is long, writes business advisor and Treaty commentator Joshua Hitchcock. It has been a challenging period for the banking industry in New Zealand. Moves by the Reserve Bank to strengthen capital carrying … Read more
In a surprise announcement, the shadow finance minister Amy Adams will leave parliament in 2020, and has stepped down from her frontbench roles with immediate effect. Alex Braae asks what happens now It could have all been so different for Amy Adams. True story: one of my first assignments at The Spinoff in 2018 was … Read more
In the second instalment in the Money Talks series, Alice Webb-Liddall and Henry Oliver face up to their finances. Dealing with money is complicated enough when you are a single person with a single income. But it can be more than twice as complicated if there are two (or more) of you in a committed … Read more
A new programme being rolled out in 111 schools teaches students how to manage money – and the difference between good and bad debt. In Porirua East the houses look like Monopoly hotels. Two-storied, sturdy state houses that are more giant blocks than anything else. They’re good homes, with beautiful wooden floors (if you happened … Read more
This week’s sharemarket tumble has been an opportunity to get some of the financial industry’s favourite dramatic words – ‘bloodbath’, ‘plunge’, ‘tumble’, ‘plummet’ – back into the headlines: But what does this mean for investors? Co-founder of Sharesies Leighton Roberts explains. For anyone following share markets or browsing the headlines, you may have heard that there’s … Read more
Kiwibank chief economist Jarrod Kerr witnessed the Global Financial Crisis (GFC) first-hand in the trading rooms of investment banks in Sydney and Singapore. Ten years on from the Lehman Brothers collapse, he recalls the mayhem of 2008 and ponders what we’ve learned. I’d never seen anything like it, and I hope I never see anything … Read more
In 2014, New Zealand was one of the first countries to legalise peer-to-peer lending. Jihee Junn takes a look at what effect it’s had on the country’s borrowers, lenders and financial institutions three years on. You might not remember much of it, but a lot of stuff happened back in 2014: John Key romped home … Read more
Steven Joyce and Grant Robertson traded hearty fiscal blows today. But what on earth were they on about? Over to you, Keith Ng. You think we’d all be numbed to the election year crayfest, but then comes an election year scandal to end all election year scandals: bad accounting! National and Labour’s finance spokespeople have … Read more
You’ve heard about how foreign trusts are exploiting legal loopholes to park money in New Zealand and avoid paying tax. But there’s another NZ financial body causing ripples around the world, for all the wrong reasons, as Gareth Vaughan explains. This story was first published on interest.co.nz Here are two numbers for you: 83 and … Read more
Is Alan Greenspan the demon author of the GFC, or a true immortal of central banking? A monumental new biography persuasively argues he was neither – but that his latter-day critics have got him wrong, writes Duncan Greive. There are two Alan Greenspans in popular mythology, each in direct contradiction to the other. The first … Read more
Falling interest rates are great news for homeowners – but pocketing your mortgage savings could be the worst financial decision you make, says the Commission for Financial Capability’s David Boyle. A couple of things happened in 1988 that stick in my mind: I got my hands on The Pogues’ album If I Should Fall From … Read more
Having reached safety in New Zealand, refugees desperate to help relatives still trapped at home are being prevented from doing so by overly strict local banking regulations. Not only are the rules morally wrong – they’re exacerbating the refugee crisis itself, says Steve Liddle. For the past nine months I’ve been working with a group … Read more