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Viewing entries tagged with 'Economy'

Kiwis may not be such poor savers after all

14 January 2010

Research by Treasury economists casts doubt on the conventional view that we are hopelessly improvident and feckless.  The conventional view is founded on estimates of household saving rates which show households year after year spending more than they earn - $1.14 for every $1 of income in the year to March 2009.  But saving rates are slippery things to grab hold of and measure.

NZ sitting on superannuation timebomb: Treasury

30 October 2009

The Treasury has issued a "choose your poison" challenge to the Government, warning that if serious consideration is not given to pegging the costs of superannuation other public services will suffer.

Inflation back under the spotlight

16 October 2009

Surprisingly strong inflation in the September quarter has cast further doubt on the Reserve Bank's stated expectation that it will not start raising interest rates until the latter part of next year.

Treasury sets aside $816m for failures

15 October 2009

The Treasury is bracing itself to pay out $816 million to investors under the Retail Deposit Guarantee within the next 12 months, having identified entities that are "more likely than not" to fail or otherwise trigger demands on the guarantee.

Recession is ‘probably’ over: Bernanke

16 September 2009

Federal Reserve Chairman Ben Bernanke said on that the worst US recession since the Great Depression was probably over, but the recovery would be slow and it would take time to create new jobs.

Crisis makes Kiwis more financially savvy

22 June 2009

First the good news: Since the Retirement Commission last assessed our financial intelligence back in 2006, we have got smarter.

Budget announcements - superannuation

29 May 2009

Automatic Government contributions to the New Zealand Superannuation Fund will be suspended for 11 years. And KiwiSaver mortgage diversion facilities will be closed to new applicants from 1 June. 

Budget on May 28

18 February 2009

Finance Minister Bill English says his first Budget will be delivered on May 28.  Mr English told a select committee today New Zealand was facing tough economic circumstances and the extent of the world wide recession was still unknown.

Global slump 'worse than Depression'

18 February 2009

The global market downturn is worse than the Great Depression of the 1930s, according to Auckland investment consultant and superannuation expert Jonathan Eriksen, though New Zealand is well placed.

Budget 2008

22 May 2008

The Minister of Finance Hon. Dr. Michael Cullen today delivered his 9th consecutive budget.    The government is introducing a $10.6 billion programme of tax cuts from 1 October 2008, with further changes scheduled to take effects from 1 April 2010 and 1 April 2011.