Business Update – 5 May 2022

Business Update – 5 May 2022

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Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

Finance minister gives pre-budget speech

Finance Minister Grant Robertson has given a pre-budget speech identifying health and climate change as key spending areas. He also announced a debt ceiling on government spending.

Housing Price Index drops

CoreLogic’s House Price Index fell 0.8 percent in April, the first drop in value since August 2020. Experts say housing affordability and increasing interest rates are driving buyers out of the market.

Government announces broadened visa criteria

The government announced it is broadening the ability of residence class visa holders to re-enter New Zealand, enabling those visa holders not vaccinated against COVID-19 to enter the country starting 6 May 2022.

Infrastructure Commission releases first long-term strategy

issued a report containing its long-term strategy. Among issues raised in the report are initiatives to address climate change, housing accessibility, and municipal growth planning.

Generational wealth gap widens

A report by Treasury suggests that the gap in wealth between people over 65 and under 35 years of age has more than doubled since the year 2000. Among possible causes is the increase in housing prices.

Air New Zealand sells shares in $1 billion deal

As part of a $2.2 billion refinancing, Air New Zealand sold 88% of its offered shares to investors at 53 cents each, raising around $1 billion. The remaining $1 billion will be raised through a special share issue to the government.

New Zealand drops most of its pandemic border restrictions

Visitors from the U.S., Canada, Britain, Japan, and more than 50 other countries are being welcomed back to New Zealand after the government dropped the majority of its remaining border restrictions.

Kiwi Business Boost Tool

The Government has funded specialist consultancy support services to provide advice to businesses who need it. You can use the Kiwi Business Boost Tool to find out what services are available in your region.

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