NZ government pushes biofuels target out a year

NZ government pushes biofuels target out a year
Larger stockpiles of transport fuels are intended to prevent supply disruptions. (Image: Getty)
Pattrick Smellie
Fuel companies’ inability to meet the government’s 2023 biofuels targets has forced a one-year delay to the phasing in of new requirements to increase the proportion of the sustainably produced fuel in the nation’s diesel supply.Energy minister Megan Woods announced the delay for the new biofuels to April 1, 2024, saying the move was “not putting climate change on the backburner” and that the greenhouse gas emissions reductions in the first year of the new regime would have been very small.The delay would “al...

More Economy

Bank economists expect OCR rises in 2026
Economy

Bank economists expect OCR rises in 2026

‘A number closer to four takes the cash rate to neutral,’ says BNZ's Stephen Toplis. 

Westpac records soft December retail spending
Economy

Westpac records soft December retail spending

Despite a slight lift, Westpac data points to a soft end of year for household spending.Westpac’s retail tracker, released on Thursday, showed spending on Westpac-issued credit and debit cards was up 2% in December compared to last year.  Westpac senior economist Satish Ranchhod...

Staff reporters 16 Jan 2025
Price shakeup for cigarette brand
Retail

Price shakeup for cigarette brand

Cigarette prices typically go up each year. Not in this case.

Oliver Lewis 16 Jan 2025
Employment confidence ticks up in December quarter
Economy

Employment confidence ticks up in December quarter

A further indicator of some stabilisation in the labour market. 

Rebecca Howard 15 Jan 2025