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☆ New Zealand finance minister discusses rate outlook and inflation
▼ + stars: | 2024-04-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNew Zealand finance minister: Rates aren't going down until inflation 'stickiness' is reducedNicola Willis, finance minister of New Zealand, discusses the country's inflation forecast and what the government and central bank are doing to get inflation back into the target range.

Persons: Nicola Willis Locations: Zealand, New Zealand

WELLINGTON, New Zealand (AP) — Inflation in New Zealand has slowed to its lowest rate in two and a half years, the country's official statistics agency announced on Wednesday. The agency said falling food and transport prices were the main drivers of the slowdown in the inflation rate which had peaked at 7.3 per cent in 2022. Political Cartoons View All 253 ImagesNew Zealand Finance Minister Nicola Willis said a key goal of the government was to lower inflation. “Our immediate focus is getting inflation back into the target range under three per cent,” she said. The result means annual inflation rate is now at its lowest since June 2021, while quarterly inflation was tracked at 0.5 per cent, the smallest rise since December 2020.

Persons: Nicola Willis Organizations: Reserve Bank of New, Reserve Bank, New Zealand Finance Locations: WELLINGTON, New Zealand

☆ New Zealand’s new government scraps world-leading smoking ban to fund tax cuts
▼ + stars: | 2023-11-28 | by ( Heather Chen | ) edition.cnn.com time to read: +4 min

A year after passing a world-leading smoking ban designed to save thousands of lives and prevent new generations of young adults from smoking, New Zealand has announced a u-turn to help pay for tax cuts, infuriating public health officials and anti-tobacco groups. Marty Melville/AFP/Getty ImagesNew Zealand’s initial smoking ban was hailed by public health officials around the world. Months after New Zealand’s announcement, Britain also unveiled plans to phase out smoking for new generations. A spokesperson for British Prime Minister Rishi Sunak said that the British government remained committed to phasing out smoking, even after New Zealand’s reversal. The anti-smoking group Health Coalition Aotearoa (HCA) expressed disappointment at the new coalition’s plans to repeal the smoking ban.

Persons: Chris Luxon, Luxon, Christopher Luxon, Marty Melville, Rishi Sunak, ”, Nicola Willis, Saturday, Mario Tama, Ayeshea Verrall, “ What’s, ” Verrall Organizations: CNN, National Party, New Zealand First, ACT New, Radio New Zealand, Government House, Getty, British, World Health, Radio New, Health Coalition Aotearoa, New Zealanders Locations: New Zealand, ACT New Zealand, Wellington, AFP, Britain, Los Angeles , California, Radio New Zealand, New

☆ Health Experts Decry New Zealand's Scrapping of World-First Tobacco Ban
▼ + stars: | 2023-11-27 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +2 min

LONDON (Reuters) - Health and tobacco campaigners said on Monday that New Zealand's plan to repeal laws that would ban tobacco sales for future generations threatened lives and put international efforts to curb smoking at risk. A ban on smoking for future generations was subsequently proposed in the United Kingdom, with other countries also considering similar rules. "This is major loss for public health, and a huge win for the tobacco industry – whose profits will be boosted at the expense of Kiwi lives," said Boyd Swinburn, co-chair of Health Coalition Aotearoa in New Zealand. Incoming Finance Minister Nicola Willis told New Zealand's Newshub Nation that the former government's measures would have significantly reduced tax revenues. Deborah Arnott, chief executive of UK health charity ASH, said that smoking costs public finances nearly double tobacco tax revenues.

Persons: Jan, Boyd Swinburn, Sarah Jackson, Nicola Willis, Deborah Arnott, ASH, Emma Rumney, Ed Osmond Organizations: Labour, Health Coalition Aotearoa, New Zealand's Department, University College London Tobacco and Alcohol Research, Incoming, New Locations: United Kingdom, New Zealand, England

New Zealand's Foreign Minister Winston Peters arrives at a news conference after he attended an emergency meeting of the Organisation of Islamic Cooperation (OIC) in Istanbul, Turkey, March 22, 2019. The role of deputy prime minister, a key sticking point in the discussions, will be split between the populist NZ First party leader Winston Peters and ACT party leader David Seymour, the group announced in a statement. National Party deputy leader Nicola Willis will be finance minister and Peters will be foreign minister, the parties said. The coalition plans to repeal a ban on offshore oil and gas exploration and a ban on the sale of cigarettes to future generations introduced by the previous Labour government, according to coalition documents. "Foreign affairs does matter to this country.... all relationships do matter to this country," Peters said in a joint news conference in the capital Wellington after the announcement.

Persons: Winston Peters, Murad Sezer, David Seymour, Nicola Willis, Peters, Christopher Luxon, Luxon, ” Luxon, Jacinda, Helen Clark, Lucy Craymer, Praveen Menon, Diane Craft Organizations: Zealand's, of Islamic Cooperation, REUTERS, ACT NZ, National Party, NZ First, ACT, Party, Reserve, New Zealand, Bank of New, Labour, “, New Zealanders, Police, Thomson Locations: Istanbul, Turkey, WELLINGTON, Bank of New Zealand, Wellington, Niue

☆ New Zealand PM-elect Luxon says Willis 'locked in' as finance minister
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: +1 min

Christopher Luxon, Leader of the National Party waves to supporters at his election party after winning the general election to become New Zealand’s next prime minister in Auckland, New Zealand, October 14, 2023. REUTERS/David Rowland/File Photo Acquire Licensing RightsOct 17 (Reuters) - New Zealand's prime minister-elect, Christopher Luxon, said that Nicola Willis was "locked in" to become the country's next finance minister, at a Tuesday news conference as talks continued with likely coalition partners. Luxon's centre-right National Party and preferred coalition partner ACT New Zealand won a razor-thin electoral victory on Saturday, together securing 61 seats in 121-seat parliament. Willis, National's finance spokesperson, was widely expected to become minister of finance, according to media reports. "The only two people we've locked in is Prime Minister Chris Luxon and Finance Minister Nicola Willis," Luxon told reporters, without giving details on the rest of his cabinet.

Persons: Christopher Luxon, David Rowland, Nicola Willis, Luxon, Willis, Chris Luxon, Renju Jose, Aurora Ellis Organizations: National Party, New, REUTERS, ACT New Zealand, ACT, New Zealand, Labour, Thomson Locations: Auckland , New Zealand, New Zealand, Sydney

☆ Explainer: New Zealand voted for change, what happens now?
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: +3 min

Christopher Luxon, Leader of the National Party arrives at his election party after winning the general election to become New Zealand’s next prime minister in Auckland, New Zealand, October 14, 2023. National won 50 seats and the right-wing, free-market ACT Party won 11, securing a majority of just one seat in the 121-seat parliament, according to provisional results from the Electoral Commission. If they do, National may need the support of populist New Zealand First and its leader Winston Peters to form a government. National's leader Christopher Luxon said he would wait for the final count to come in but was talking with both ACT and New Zealand First. Parliament has to meet with six weeks of the official election result but there is no date for when a government must be formed.

Persons: Christopher Luxon, David Rowland, Winston Peters, Luxon, Nicola Willis, Zealand First's Peters, Brooke van Velden, Lucy Craymer, Lincoln Organizations: National Party, New, REUTERS, Rights, Party, National, ACT Party, Electoral, ACT, New Zealand, WHO, Labour Party, APEC, BE, Zealand, Thomson Locations: Auckland , New Zealand, Zealand, Wellington

☆ New Zealand's opposition vows to shake up central bank, as it leads in polls
▼ + stars: | 2023-08-28 | by ( ) www.cnbc.com time to read: +1 min

The Reserve Bank of New Zealand (RBNZ) building in Wellington, New Zealand, on Wednesday, Feb. 22, 2023. New Zealand's central bank could have its policy goals narrowed significantly and be subject to an external review if the center-right National Party opposition wins election this year, as political scrutiny of the bank intensifies. As the country heads to an election in October, opinion polls show the opposition leading the center-left Labor government, which has held office since 2017. National's platform includes returning the Reserve Bank of New Zealand's, or RBNZ, goal to a single target of keeping inflation between 1% and 3% and jettisoning recent additions of an employment mandate. "New Zealanders need confidence that the Reserve Bank will not deprioritize inflation in the pursuit of other goals," National finance spokesperson Nicola Willis said in an emailed response to questions from Reuters.

Persons: Nicola Willis Organizations: Bank of New Zealand, National Party, Labor, Reserve Bank of New, Reserve Bank, National, Reuters Locations: Wellington , New Zealand, New

☆ For the first time, New Zealand has more female lawmakers than male
▼ + stars: | 2022-10-26 | by ( The Associated Press | ) www.nbcnews.com time to read: +2 min

WELLINGTON, New Zealand — For the first time in New Zealand’s history, a majority of lawmakers are women. With the resignation of another male lawmaker, it has tipped the balance in Parliament to 60 women and 59 men. “Whilst it’s a special day for me, I think it’s historic for New Zealand,” Peke-Mason told reporters. The milestone places New Zealand among a half-dozen nations in the world that this year can claim at least 50% female representation in their parliaments, according to the Inter-Parliamentary Union. New Zealand has a history of strong female representation.

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