Financial support announcement may only be a temporary reprieve for Synlait as the company faces a further $180m bond repayment
Economy
Surplus in 2027 ‘not achievable’ on current forecasts – Willis
The finance minister also wouldn’t promise that the tax cuts delivered in the Budget will match exactly what National campaigned on at the election
Mayor’s budget proposal ‘sugar-hit economics’ – report
A new report says airport and port lease sales on the table at Auckland Council continue a ‘longstanding tradition’ of using the promise of debt relief to promote privatisation
The language of economic doom
Today from The Detail: Are fiscal holes a real issue, or an easy headline?
The grand plan to build Kiwibank into a maverick challenger
Ministers back rules change to allow smaller banks and financial institutions to access cheaper capital
Banks can’t explain ‘persistently high profits’, says report
Banks hold interest margins high – but argue it’s important they remain profitable and robust in tough times
Govt will need more public service cuts to fund tax plan
Services which might traditionally be considered frontline, like Customs, are potentially up for cuts as the Government works to fill a $1.5b fiscal gap
Govt must find $1.5 billion more to pay for tax cuts
A Newsroom analysis of National’s tax plan has found it is now $1.5b short of breaking even as promised during the election
Coastal shipping plans continue despite Govt ditching funding from transport policy
Despite coastal shipping no longer being a Government priority, the sector is pressing on with its own plans
‘If councils were companies, some would be bankrupt’
As Greater Wellington councillors sit down around the table today, it is to make the sort of decision they never anticipated when running for election. They’re not alone.
Amazon cloud pays barely $1m tax on $391m revenues
A deep dive into the big tech company’s finances reveals it’s charging NZ firms and government agencies hundreds of millions for ‘local’ storage that it hasn’t built
Central banks diverge over rate cut outlook
Risk is the Reserve Bank leaves a rate cut move too late, causing the economy to quickly fall into recession