Politics
Economy
Treasury, IRD investigating unexpectedly high tax take in April accounts
By Paul McBeth June 6 (BusinessDesk) - The Treasury and Inland Revenue Department are looking into why the government's April financial statements showed the 10-month tax-take running $2.25 billion ahead of the budget forecasts, just one week after they were publicly released....
Finance
Farmers less happy with banks and RBNZ capital requirements signaled as a factor
By Rebecca Howard June 5 (BusinessDesk) - Federated Farmers is pointing the finger at the Reserve Bank's proposed increase in bank capital requirements as more farmers feel under pressure and overall satisfaction with banks hit the lowest level since its first survey in August...
Finance
Lubberink says RBNZ bank capital proposals won't be a panacea
By Jenny Ruth June 5 (BusinessDesk) - The Reserve Bank's bank capital proposals focus on the wrong things, are based on cherry-picking international research and won’t necessarily calm investors and depositors when banks come under stress, according to Martien Lubberink, assoc...
Policy
NZ dollar rises on growing expectations for US rate cut
By Rebecca Howard June 5 (BusinessDesk) - The New Zealand dollar was higher on growing speculation the US could move to cut rates, in particular against the backdrop of rising trade tensions. The kiwi was trading at 66.16 US cents at 7:50am in Wellington from 65.76 US cent...
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Pattrick Smellie
Founding Editor
Pattrick was judged New Zealand's best overall columnist and business columnist of the year at the Voyager 2021 Media Awards. He has more than 35 years’ experience reporting and working in New Zealand politics and the commercial sector. A former Press Gallery chairman, he is an award-winning journalist and has worked for titles including The Dominion, The Press, Sunday Star-Times and National Business Review. He was the first NZ correspondent for The Australian and co-founded BusinessDesk in 2008.
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