Author: Press Room

By Gyles Beckford of RNZ The government’s finances ended the year in better than expected shape, but still deeply in deficit. Treasury figures showed a deficit of $9.3 billion in year ended June, which was $533 million more than 2024, but $869m less than forecast in the May budget. The deficit was based on the government’s new formula, which excluded the cost of the Accident Compensation Corporation (ACC). Finance Minister Nicola Willis said the books showed the progress achieved in getting the government’s books back in order. “This progress reflects the government’s ongoing work to restore fiscal discipline with cumulative savings…

The parents of fugitive father Tom Phillips, who was fatally shot by police last month, have penned a letter to the community expressing their “sincere apology” for their son’s actions. Phillips had been evading police since December 2021 with his three children, and died following a shootout after police were called to reports of a burglary in the early hours of September 8. The first attending officer was injured after being “confronted by gunfire at close range”. He has since been discharged from hospital. Today, King Country News carried a letter to the editor written by Neville and Julia Phillips,…

The Ministry of Education is considering cancelling Gloriavale School’s registration as a private school over concerns that it was not meeting its obligation to provide a physically and emotionally safe environment for students. Andrea Williams, Acting Hautū (leader) of Te Tai Runga (South), said Acting Secretary of Education Ellen MacGregor-Reid had sent a letter to the school, which is based at the religious group’s West Coast commune. “This is based on the serious concerns raised about whether the school is meeting its obligation to provide a physically and emotionally safe environment for students.”The school’s leadership was given five weeks to…

Many residents in the South Island are in for a wet and windy night as heavy rain and severe gales blow in from the north, says MetService. The strong winds and rain are also predicted to hit lower parts of the North Island.This afternoon the forecaster issued some orange heavy rain warnings for parts of the South Island as an “unsettled northwest flow” was expected from later this evening into Friday. Tararua Range, Buller District, Grey District, Westland District and the headwaters of the Canterbury lakes and rivers from Mt Cook to Arthur’s Pass were all expected to receive at…

Police have named the man who died in an incident in Auckland’s New Lynn earlier this week.He was 32-year-old Joseph David Walsh, of Auckland.On Monday, emergency services were called to the scene on Kaponga Cres just before noon to a report of a person injured.Despite efforts of first responders, Walsh died at the scene, and a person was taken into custody.Police at the scene on Kaponga Crescent in the Auckland suburb of New Lynn, (Source: 1News)Detective Senior Sergeant Ryan Bunting said a 28-year-old has been remanded in custody and is set to appear in the Auckland High Court on October…

A mistake by council staff led to a $7000 portrait of Wellington Mayor Tory Whanau being painted, rather than it being done using photography.Mayoral portraits are a long-standing council tradition dating back to Wellington’s early civic history. They have been produced in both painted and photographic formats.Last week, Wellington Mayor Tory Whanau unveiled a portrait which was created by artist Clark Roworth using oil on canvas.Painted portraits of previous Wellington mayors Mark Blumsky, Fran Wilde and Kerry Prendergast. (Source: Wellington City Council)In 2023 the Wellington City Council executive leadership team made a recommendation that photography should be used as the…

By Giles Dexter of RNZ New Zealand First leader Winston Peters is demanding answers from Fonterra over the sale of its consumer businesses to French dairy giant Lactalis. Fonterra has agreed to sell major brands like Mainland and Anchor for $3.8 billion. The potential inclusion of Bega licenses held by Fonterra’ Australian businesses could take the headline value of the transaction to $4.2 billion. The sale includes a long-term agreement for Fonterra to sell milk and ingredients to Lactalis The deal is expected to settle in the first half of next year, subject to regulatory and shareholder approval. Voting has opened…

The Reserve Bank has cut the official cash rate by 50 basis points, but what will that actually mean for households?Here are a few ways you might notice the effect:Interest ratesHome loan rates should fall a bit further, particularly for the shorter fixed terms.Infometrics chief forecaster Gareth Kiernan said markets had priced in about a 50% chance of a 50 basis point cut. He said rates could get down to 4.2% or 4.3% after Wednesday’s decision.Kiwibank chief economist Jarrod Kerr said interest rates were getting to a level that made a difference to households.”A 7.5% mortgage rate really hurt most…

Gold has surged past the $US4000 ($NZ6900) an ounce level for the first time, building on a record-breaking rally as broader geopolitical and economic uncertainty, as well as expectations of US interest rate cuts, sent investors flocking to the safe-haven asset. Silver also climbed to a record high on Wednesday, latching on to gold’s record streak as investors flocked to the metal. Spot gold was up 1.7% at $4050.24 per ounce by the afternoon, while US gold futures GCv1 for December delivery also settled 1.7% higher at $4070.5. Silver gained 3.2% to $49.39 per ounce, after hitting its all-time high of $49.57. “Gold’s strength reflects an extremely…

An orchardist says the horticulture industry is not crying out for workers, as the Prime Minister urges young people to look for work in the sector.From next November, the Government will means-test 18- or 19-year-olds before they can access a Jobseeker benefit.Christopher Luxon has encouraged jobseekers to look to horticulture for work, telling RNZ the sector is “crying out” for young people.”If you go outside of Wellington, to Hawke’s Bay or go to the South Island… The primary industries, for example in horticulture [and] in our growing industries, they are crying out for young people to come and join those…