The austerity Government that isn’t and the recession that wasn’t

The austerity Government that isn’t and the recession that wasn’t
Things are not looking too good for the West Island either. (Image: File)
Paul McBeth
Oof! The September quarter national accounts and the Government’s half-year update made for some pretty rugged reading last week.There’s red ink aplenty in the Crown accounts, with deficits as far as the eye can see and a persistent case of borrow-and-spend coming out of the Beehive. An operating surplus isn’t on the cards for a few more years, and the looming step-up in unemployment isn’t going to help matters, given our favoured form of taxation is at the income source.Much was made of the new operating balance me...

More Economy

ANZ first bank to react to OCR cut
Economy

ANZ first bank to react to OCR cut

ANZ is the first bank to react after the Reserve Bank’s 50-basis-point official cash rate cut on Wednesday.“Lower interest rates are helping, and more and more customers are seeing the benefit of rate cuts,” Grant Knuckey, a managing director at ANZ, said.“We’ve ... [seen] people...

RBNZ cuts to 2.5% with more on the table
Economy

RBNZ cuts to 2.5% with more on the table

The committee remains open to further reductions, it said. 

RBNZ cuts OCR to 2.5%
Economy

RBNZ cuts OCR to 2.5%

RBNZ says its open to cutting more if necessary. 

Adrian Orr’s exit deal imposed gag on mutual RBNZ criticism
Economy

Adrian Orr’s exit deal imposed gag on mutual RBNZ criticism

The restraint of trade payment was to protect confidential information.