Govt feels pinch of rising rates, eyes cyclone bill

Repairing infrastructure won't be cheap. (Image: Getty)

Thu, 16 Feb 2023

The government’s ballooning debt is starting to pinch as rising interest rates drive up the crown’s finance costs, just as it prepares to address the cost of Cyclone Gabrielle.Finance minister Grant Robertson said the government books were in good shape ahead of the climate events, which would affect operating and capital spending plans. “We know that this is a significant event affecting families and businesses as well as the country’s roads, bridges and energy networks and it will have a sizeable impact on the eco...

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Markets Market close

NZ sharemarket up 0.4% to end the week

The S&P/NZX 50 Index closed at 11,794.81, up 48.15 points or 0.41%.

Graham Skellern 6:12pm

Infrastructure

Work on first seven roads of national significance begins

The Govt is prioritising 17 Rons as part of its $22b land transport plan.

Rebecca Howard 11:30am

Work on first seven roads of national significance begins

Retail

Liquidators investigate sale of three Pizza Hut stores

Maloita sold three Wellington Pizza Hut stores prior to its liquidation.

John Anthony 10:30am

Liquidators investigate sale of three Pizza Hut stores

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Retail

Briscoe Group says tax changes will hit FY net profit by $7.4m

New legislation affects depreciation on commercial buildings.

Rebecca Howard 11:00am

Economy

Core Crown tax revenue higher than expected in May accounts

Government tax intake is $1.57 billion higher than forecast, according to the latest Crown accounts.Treasury released the interim financial statements for the 11 months ended May 31 on Wednesday morning, which showed core Crown tax revenue was $111.12b.This was 1.4% more than the...

Staff reporters 04 Jul 2024