Finance tagged posts

Reserve Bank Releases Financial Stability Report

November 11, 2015 New Zealand Finance

The New Zealand financial system is generally in god health, but faces threats from falling dairy prices and a surging property market.

On November 11th the Reserve Bank of New Zealand released its annual Financial Stability Report, detailing the national financial system and the risks it faces.

It was noted that the national financial system is generally in a positive state, however, it still faces some significant risks in the foreseeable future.

One of the major current risks is the debt accrued by the dairy industry, especially in the face of falling profits caused by a lull in international prices for dairy products.

Additionally, the current state of the housing market also poses significant risks, due to the rapid appreciation of housing in the country, especially in the Auckland r...

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New Petrol Tax Likely

October 2, 2008 New Zealand Taxation  No comments

New petrol taxes are likely to be approved within the next two weeks according to Finance Minister Michael Cullen.

The new petrol taxes are specifically budget to pay for the electrification of Auckland’s rail network. Any surplus that might present itself will be budgeted for further road construction projects. The proposed taxing scale will see an extra 1c added to each liter of petrol on the 30th of June, 2009. A subsequent rise to 3c is scheduled to occur in the winter of 2009 and lastly a raise to 5c in 2011.

While the new petrol tax is not set in concrete yet, Finance Minister Michael Cullen appears confident in it reaching government approval within the fortnight. He went so far as to say that “The Government sees in effect the current electrification as a lock-down certainty...

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