Regional Economic Development Minister Shane Jones accused Fonterra of being disconnected from farmers and called on Chairman John Wilson to resign. The US Federal Reserve raised its key cash rate to around 2.0 percent and signaled two more hikes this year. This if the first time New Zealand's OCR has been below America's official rate.
New Zealand First blocked Andrew Little's proposal to repeal the three strikes law. Winston Peters is pushing ahead with damages claims against MSD, Paula Bennett and Anne Tolley. Manufacturing figures suggested GDP growth slowed a little to 2.7 percent in the March quarter. Kim Jong Un went for a walk around Singapore overnight.
The Treasury has released a report which it hopes will stimulate discussion on how to measure New Zealand’s living standards.
Former MP (and Minister) Peter Dunne argues in his column this week for Newsroom that the Government’s sidelining of officials is a risky approach that could rebound painfully
The New Zealand government's operating surplus was just above forecast in the first 10 months of the year but the result was weighed on by higher-than-expected insurance claim costs.
May 28 decision - Prime Minister Jacinda Ardern said yesterday the Government and industry leaders would have to make a decision within seven days on whether to try to keep eradicating mycoplasma bovis, or whether to accept it is here to stay and manage its effects. A final decision looks set to be made at next Monday's cabinet meeting, which is just four days before the June 1 'Gypsy Day' when sharemilkers move thousands of cows around the country.
New Zealand's economy and Government is under new management, but Bernard Hickey sees little real change so far in monetary or fiscal policy under Grant Robertson and Adrian Orr.
The eight news events that mattered in the week around our political economy included the key details in Budget 2018, the emergence of mycoplasma bovis as a macroeconomic and fiscal issue, pressure building on New Zealand's big four banks to detail their conflicts over Kiwisaver sales, and a wider crackdown on retailers not paying workers at the start and end of shifts.
Grant Robertson's first budget did exactly what he said it would on the tin, but it was also the biggest missed opportunity in a generation, Bernard Hickey argues.
Here is the news that mattered this morning in New Zealand's political economy, including news that the Budget lockup is about to start, the Reserve Bank's headquarters has been evacuated, unions are finding widespread unpaid overtime and labour hire firms' use of migrants is coming under increasing scrutiny.