Policy
Explore the latest government news by BusinessDesk.
Finance
Westpac says RBNZ capital proposals would add $6,000 p.a. to an Auckland mortgage
By Jenny Ruth May 24 (BusinessDesk) - Westpac says the Reserve Bank’s bank capital proposals will mean homeowners with an average mortgage in Auckland will be paying about $6,000 a year more in interest. The Australian-owned bank says the central bank has greatly underestim...
Infrastructure
OceanaGold less confident in regulatory regime
By Gavin Evans May 23 (BusinessDesk) - OceanaGold says the surprise rejection of a land purchase for a new tailings facility has reduced its confidence in this country’s regulatory settings. The rejection of its planned 178-hectare purchase – due to a split decision between...
Finance
INFINZ says RBNZ bank capital proposals lack analysis and scrutiny
By Jenny Ruth May 23 (BusinessDesk) - The Reserve Bank has provided insufficient material and analysis of its “dramatic” bank capital proposals, and they warrant “a level of scrutiny proportionate to the magnitude and breadth of its potential impacts on the wider economy,” say...
Economy
BUDGET 2019: NZ debt target to be more flexible from 2022
By Rebecca Howard May 23 (BusinessDesk) - The government remains committed to reducing net debt to 20 percent of gross domestic product by 2022 but plans to shift to a target range rather than a single figure, says the finance minister. "At this point, we are looking at a...
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