Cost cutting still the focus in government and business, CFO summit hears

Nicola Willis says there is no new money left for new initiatives. (Image: BusinessDesk)

Wed, 04 Sep 2024

A summit of chief financial officers has heard that cuts across the public and private sectors will likely continue into next year. However, private company CFOs are increasingly considering investment opportunities and showing signs of concern about their ability to staff their finance functions.During a question-and-answer session at the CFO summit in Auckland at the Aotea Centre, Finance Minister Nicola Willis said no new money would be available from the Government for initiatives that businesses might want to suggest.“I think th...

Unlock all stories free for 10 days

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

We won’t charge for 10 days. You can cancel anytime with two clicks, an email or a phone call. Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

You will be charged in 10 days unless you cancel beforehand.
We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets

Women directors paid 10% less than men in 2024

In 2023, women earned 7.1% less than men at the median.

John Anthony 6:00am

Opinion

David Chaplin: GST and fund fees: thank you for your service

The complex problem of GST's "technical change".

David Chaplin 5:00am

GST and fund fees: thank you for your service

Finance

New bank contender champions niche over scale

Debut has applied for a bank licence, intending to become a fully digital bank.

Ben Moore 5:00am

New bank contender champions niche over scale

Sponsored

Best place in the world to work

Fiji's business events have unique appeal to New Zealanders.

Tourism Fiji

Sponsored

How to determine retirement lifestyle

Managing wealth not just about accumulation, but how to use it.

Milford

More Economy

Economy

Mood of the CFO survey shows surprising business resilience

Key findings from a new survey of chief financial officers show a strong outlook for growth in the year ahead despite clear economic challenges.“The inaugural Hunter Campbell Mood of the CFO Survey shows that 30% of CFOs feel upbeat or bullish about company performance over the n...

Rebecca Howard 03 Sep 2024