More kiwi wealth tied up in small businesses than previously thought, English says

Thu, 11 Apr 2013

By Paul McBeth April 11 (BusinessDesk) - New Zealanders have more of their savings tied up in small business ventures and less in the perennial favourite housing than previously thought, according to Finance Minister Bill English. The minister has tasked the Reserve Bank and the Treasury with getting a better handle on the make-up of household balance sheets, which have typically been presumed to over-rely on property as the primary form of savings. The wonky figures mean the nation's household savings rate, which turned negative a year af...

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