Govt feels pinch of rising rates, eyes cyclone bill

Govt feels pinch of rising rates, eyes cyclone bill
Repairing infrastructure won't be cheap. (Image: Getty)
Paul McBeth
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...

More Economy

ANZ survey: ‘The worst will soon be past’
Economy

ANZ survey: ‘The worst will soon be past’

ANZ-Roy Morgan's survey shows that consumer confidence bounced back from recessionary lows in July.“It’s still very low but has clawed back about half the March-April fall that coincided with ‘recession’ headlines. The lift was driven by improving expectations rather than the...

Staff reporters 26 Jul 2024
The kiwi dollar is falling prey to the bears
Economy

The kiwi dollar is falling prey to the bears

The only worst performer is the Norwegian krone.

Rebecca Howard 26 Jul 2024
Holidays Act: no vacation for taxpayers
Economy In-depth

Holidays Act: no vacation for taxpayers

Let's pay billions of dollars and get nothing new for it.

Nikitin Sallee 25 Jul 2024
Recession worries? Blame China's economic flu
Economy

Recession worries? Blame China's economic flu

Treasury's chief economic adviser says China's economic woes are being felt in NZ.

Dileepa Fonseka 25 Jul 2024