Weekly Digest – 10 April 2024

Weekly Digest – 10 April 2024

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.

Final changes to ACC’s Accredited Employers Programme confirmed

Changes to ACC’s Accredited Employers Programme (AEP) aim to deliver a better experience for businesses and workers whose work injury claims are handled by the organisation directly, rather than through ACC.

Property market remains resilient amid economic headwinds

New listings are back to normal March levels, stock levels return to where they were in 2015, and prices remain stable. Despite Kiwis feeling the pinch of rising interest rates, high levels of inflation, and recessionary pressures, the New Zealand property market has remained resilient.

Fast fibre let down by internet users’ lousy Wi-Fi

Paying for a premium broadband service could be a waste of money for consumers using Wi-Fi routers incapable of delivering top speeds. The Commerce Commission’s RealSpeed report indicates broadband speeds naturally drop between the router and devices being used in the home, with losses on faster plans – such as fibre – dropping more than 60 percent. The commission is working with Consumer NZ to test the performance of different routers available on the market, with results expected to be released later this year.

Squirrel’s David Cunningham argues the Reserve Bank should start cutting interest rates on April 10

David Cunningham, CEO of Squirrel, a mortgage broker, argues that the RBNZ needs to be looking to the future and taking action that will be right in a year or two, when the impact of any changes made now will be felt by Kiwi households and believes that talk of holding out any longer on cuts just to be sure inflation is slayed is unnecessary — and that the impact of that approach would be devastating for New Zealand and New Zealanders.

Government urged to sell farming body into private ownership

An agribusiness accountant says selling Pāmu could boost government finances by $2 billion. The state-owned farming company – previously known as Landcorp – runs 110 farms around the country, with a mix of dairy, sheep and beef, deer and forestry.

NZ public service job cuts: what we know so far

Public servants’ jobs are on the chopping block as the sector scrambles to meet the Finance Minister’s cost-cutting targets. Find out how many jobs are going and where.

House consents carry on down: Will Government, immigration be silver linings?

National building consent data continues to fall, down a quarter in the past year, but Prime Minister Christopher Luxon announced stimulatory moves today and a construction expert anticipates a silver lining.

Can overseas truck drivers help ease our trucking crisis?

According to a 2023 report by the International Road Transport Union, there are more than three million vacant truck driver positions in 36 countries around the world, from the Americans to Europe to Asia. The report forecasts the global shortage will double in the next five years to over seven million unfilled truck driver jobs. The situation is particularly dire in New Zealand, according to the National Road Carriers Association (NRC), the leading industry association for road transport operators.

GDT auction – Dairy prices up 2.8 per cent across the board

Global Dairy Prices have bounced back in the latest Global Dairy Trade auction, held overnight, with a 2.8 per cent increase across the board. It is the mirror image of the 2.8 per cent drop two weeks ago.

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