Author: Press Room

A massive drop in electricity prices has lowered monthly inflation back into the central bank’s target, as mortgage holders cling to hopes of a rate cut.Inflation cooling to 2.7 per cent in the 12 months to August, down from 3.5 per cent in July, brought it to its lowest point in nearly three years, largely off the back of electricity subsidies.Federal and state electricity helped bring power bills down 17.9 per cent, the largest annual fall on record.Government subsidies meant electricity prices took a huge dive. (Jono Searle/AAP PHOTOS)Electricity bills would have jumped 16.6 per cent since June 2023 without…

Severe gales up to 120km/h are forecast for parts of the country on what is shaping up to be a windy Tuesday for some.MetService has issued orange wind warnings for Wairarapa, Tararua District, and Hawke’s Bay south of Hastings which last until 5pm today.”Severe gale west to northwest winds gusting 120 km/h in exposed places,” MetService said about the above warning.”Winds should ease from the south during Tuesday afternoon. Minimal chance of upgrading to a red warning.”Canterbury High Country was under the same warning until 8am, which has now been lifted.A strong wind watch is still in effect for coastal…

By Maia Ingoe of RNZ  Auckland Council is not going to change its flexible working arrangements, after calls to bring the city’s workers back to the office. Public Service Minister Nicola Willis has directed ministry bosses to tighten up on working from home, and Auckland business group Heart of the City wants the council to lead the way in revitalising the  CBD. While about 1 million people come through Auckland central every week, Heart of the City numbers show that was still down about 30,000 people a day from pre-Covid levels. Chief executive Viv Beck said it was time to…

Proposed tolls on another Tauranga highway are “excessive” and “grossly unfair” given the city already has two of the country’s three toll roads, residents say.Tauranga and Western Bay of Plenty residents are calling out NZ Transport Agency Waka Kotahi’s proposal to toll the Takitimu North Link (TNL) once it opens in 2028.Construction of the $655 million stage one, a 6.8km four-lane expressway between Tauranga and Te Puna stage, is under way.NZTA is proposing a toll to cover maintenance costs and fund the construction of stage two.Under the proposal out for consultation, motorists in light vehicles using the stage one route…

NZ’s uncut interview show – 30′ with Guyon Espiner – returns for a new season on Wednesday. The first guest, ANZ chief executive Antonia Watson, says “the time has arrived for a capital gains tax”. Watson qualified her comments with a warning about the compliance costs of introducing such a tax, and made it clear she was opposed to any tax on unrealised gains. But her intervention adds another voice in a now growing chorus of influential New Zealanders calling for a capital gains or wealth tax. “In this country, people are investing in housing for the purpose of getting a…

The prime minister has swatted away questions about curbing property tax breaks after reports of secret modelling.The federal government has sought advice from Treasury on scaling back negative gearing and capital gains tax concessions, according to the Nine newspapers.If Labor follows through on the modelling, housing tax breaks could form a major battleground at the upcoming federal election – reminiscent of the 2019 campaign.Although Prime Minister Anthony Albanese brushed off the claims, he didn’t rule them out.”I’m sure the public service are looking at policy ideas, that’s because we value them,” he told reporters in Tasmania on Wednesday.Anthony Albanese has…

A stretch of State Highway 6 in the top of the South Island was closed this morning after trees fell onto the highway.NZTA Waka Kotahi announced the closure at Whangamoa Hill at about 9.15am.”Work is underway to remove the trees and reopen the road, but this may take up to two hours to complete.”This means the highway is closed between Hira and the Rai Valley,” the agency said.”Drivers should avoid the area and delay their travel if possible.”It will affect road users travelling between Nelson and Blenheim.”The only alternative detour is via State Highway 63 – St Arnaud and the…

By Susan Edmunds of RNZ  If you want happiness at work, your best bet is to be a Baby Boomer working in banking and finance. That’s according to new research from recruitment website Seek, which has surveyed employment happiness. It found six out of 10 New Zealanders were happy at work. But among the Boomer generation (born between 1946 and 1954) , it was more like seven to eight out of 10. Generation Z (1997-2012) and Millennials (1981-1996) were the least happy. The top reasons people were happy at work were related to having a purpose, their day-to-day responsibilities, company…

Four people have been taken to hospital with injuries after a car crashed off a bridge in Taranaki early this morning.Police were alerted to the crash at Everett Park at about 1.20am.”A car had crashed off a bridge on Bristol Road and gone into the river,” a spokesperson said.”Four people received injuries and were transported to hospital.”A St John spokesperson said two ambulances attended the scene.Four people were taken to Taranaki Base Hospital in New Plymouth. Two were in a serious condition and two were in a moderate condition.

A major Dunedin brewery has had its liquor licence challenged by students who claim it was behind “predatory” alcohol marketing during O Week. An application for the renewal of an on-licence for the Speight’s Heritage Centre has been opposed by Students for Sensible Drug Policy (SSDP) Ōtepoti. The applicant, Lion NZ Ltd, took over operations at the Rattray St brewery in about 1977 and was not looking to make any changes to its licence, a report to Dunedin’s district licensing committee said. The licence allowed it to offer tastings at the end of tours of the brewery and to host…