Local News – Councils to consult on future of water services
Source: Porirua City Council
Events – Experience the power of the DIVA in new international exhibition coming to Auckland Museum
Tāmaki Paenga Hira Auckland War Memorial Museum proudly presents DIVA, a major international exhibition exploring the extraordinary power and creativity of performers who have shaped culture, challenged norms, and captivated audiences worldwide. Opening Wednesday 18 June 2025, DIVA comes exclusively to Auckland Museum from London’s Victoria and Albert Museum (V&A).
DIVA showcases over 280 objects, including fashion, photography, costumes, music, and design, featuring trailblazing performers who have made their voices heard from the 19th century to today.
Through theatrical staging and an Immersive musical soundtrack experience, DIVA explores stories of creativity, ambition, and resilience of some the world’s best-known divas, from opera goddesses and silent movie stars to Hollywood legends and today’s global megastars.
The exhibition also looks at how the performer has intersected with society and driven change through their platform and profile for social good and political change, including global civil rights and feminism.
Featuring icons such as Maria Callas, Elizabeth Taylor, Madonna, Cher, Tina Turner, Whitney Houston, and Rihanna, DIVA will reveal how the diva has been subverted or embraced, across gender, genres, and history.
Auckland Museum’s Tumu Whakarae Chief Executive David Reeves says Auckland Museum is excited to be bringing the hugely popular DIVA exhibition to Aotearoa.
“Following its sold-out season in London last year, DIVA promises a vibrant celebration of performance, power and artistry to Aotearoa. The V&A is globally renowned for spectacular exhibitions that celebrate creativity and cultural icons from around the world.”
“This extraordinary collection of art and design highlights the influence of divas throughout history, and how we have collectively created the phenomenon of the diva. The exhibition captures the essence of those who have redefined music, fashion, and identity on the world stage across many generations,” says Reeves.
DIVA will demonstrate the phenomenal ability of the diva to transform, inspire and embrace the forces that contribute to defining, and worshipping a diva. Delving into the origins of the term ‘diva’ – meaning goddess in Italian – the exhibition will explore how the meaning of the word has been subverted and embraced over time. “Diva” is a label that has been reclaimed by performers, their fans and wider society.
Kate Bailey, curator of DIVA, said, “Today the word diva holds a myriad of meanings. At the heart of this exhibition is a story of iconic performers who with creativity, courage and ambition have challenged the status quo and used their voice and their art to redefine and reclaim the diva.”
“It’s a privilege to tour DIVA to New Zealand. We are thrilled to be working with the Auckland Museum and that this powerful story of the DIVA is being shared around the world. Viva La Diva!,” says Bailey
Included in the exhibition are over 50 diva looks that have rarely been seen on public display, including: a stage ensemble worn by Maria Callas as the title role of ‘Norma’ (1952); the fringed black dress worn by Marilyn Monroe as Sugar “Kane” Kowalczyk in ‘Some Like it Hot’ (1959); the only known surviving dress worn by Clara Bow, rarely seen outside of the U.S; iconic costumes designed by fashion designer for the stars Bob Mackie, including looks worn by Tina Turner, P!nk and Cher; a Louis XIV inspired look with towering powdered wig and train worn by Elton John for his 50th birthday celebration, designed by Sandy Powell; and Shirley Bassey’s couture pink gown designed by Julien MacDonald including diamanté-studded Wellington boots, worn on stage at Glastonbury (2007).
For Auckland Museum’s exhibition, Dame Kiri Te Kanawa has lent her millennium coat, worn at the New Year’s Day 2000 performance that was broadcast to one billion people around the world.
Also on display will be examples of ephemera from divadom including posters, song sheets and handwritten lyric sheets as well as personal objects and accessories owned by divas. DIVA also includes famous photographs and examples of diva branding, highlighting the entrepreneurial and enterprising spirit of these divas.
DIVA comes exclusively to Auckland Museum and opens Wednesday 18 June until Sunday 19 October 2025. Tickets are on sale from Monday 19 May.
Auckland Museum Membership provides unlimited free entry to DIVA, discounted event tickets and exclusive Member-only events. Find out more at: aucklandmuseum.com/membership.
DIVA is a V&A exhibition touring the world.
DIVA
WED 18 JUN 2025 – SUN 19 OCT 2025
Adult $25, Child (5–15) $15, Family (2 adults, 2 children) $72, Concession $23 Unlimited free entry with Museum Membership.
INTERVIEW OPPORTUNITY
Kate Bailey, curator of DIVA
Kate Bailey is Senior Curator and Producer at the V&A, and will be visiting Auckland from 13-18 June. If you would like to book an interview, please contact Samantha McKegg, Publicist, Auckland Museum.
About the V&A
The V&A is the world’s leading museum of art, design and performance, with collections unrivalled in their scope and diversity. It was established to make works of art available to all and to inspire British designers and manufacturers. Today, the V&A’s collections, which span over 5000 years of human creativity in virtually every medium and from many parts of the world, continue to intrigue, inspire and inform. vam.ac.uk.
Weather News – Dry and mainly settled weather provides chance to spot blood moon – MetService
People with a clear view of the eastern horizon may catch a glimpse of a red moon rising this Friday evening thanks to the total lunar eclipse. A total lunar eclipse means the earth is in the way of sunlight directly reaching the moon. Our atmosphere causes the incoming sunlight to bend around the globe with red light directed toward the moon.
MetService meteorologist Lewis Ferris predicts, “Most areas look to be cloud free around the 7:45pm sunset on Friday but some cloud is forecast around East Cape and Northland. The maximum eclipse occurs just after moonrise here (around 8pm) – this means the moon would be at its reddest, but also dimmest, as it comes above the horizon; spotting it against the relatively bright sky could be challenging. After 8:30pm the redness will mostly be gone.”
The chilly southerly that moved up the country yesterday (Wednesday) saw Cantabrians getting a taste of what’s to come as we edge closer to winter with afternoon temperatures hovering around 13°C. However, at the moment, the cooler days are short lived as temperatures are back into the mid-20s by the time the weekend rolls around.
Generally, the weather will be mostly settled over the weekend thanks to a nearby area of high pressure. Some showers are forecast to linger around the western areas of the South Island. Festival goers will be happy to hear it’s looking like a decent weekend in Wellington for Homegrown – typical northerly breezes and some passing cloud with temperatures in the low 20s.
Next week is forecast to kick off with a burst of heavy rain in the southwest and blustery northwesterly winds across the southern half of the South Island as an active, potentially severe weather systems moves in. It’s looking like the system is due to weaken as it travels north, making the chances of much rain for those dry areas further north unlikely.
Building new careers: Seventy-six new police officers graduate
Source: New Zealand Police (National News)
Commissioner Richard Chambers and Wing Patron, Hon Anne Tolley congratulated the 76 graduating constables from wing 382 today.
Families and friends celebrated the newly attested police officers at Te Rauparaha Arena, Porirua this afternoon to acknowledge the successful completion of their initial training course.
There are some likeminded individuals in this wing with nine of the graduates having building trade qualifications.
There are 13 new officers who’ve played high-level rugby, touch rugby, Rugby Sevens, or rugby league.
There’s also a number of recruits who have played hockey as a sport of choice, some at representative level.
One of the seven hockey-playing recruits is Constable Lauren Baker the recipient of the Minister’s Award for top recruit of the wing. Lauren was previously a communicator for the Police 105 Emergency Communications Centre and is thrilled to be starting something new.
“I really enjoy Police and the sense of fulfilment I get from helping people and holding others to account. There is no other job quite like it. This organisation is full of great people who join police for the right reasons. It’s great to be part of this organisation as a sworn officer now, and I look forward to working with my community,” she said. Lauren will be based in Wellington District.
One of four new officers born in South Africa won the Commissioner’s Award for Leadership for the wing. Constable Johan Roos’ follows in the footsteps of his parents who were both police officers in South Africa.
“I am proud to be part of such an ethnically diverse wing. We have people from ten different countries who graduated today going out to serve our widely diverse communities. This Leadership Award is not mine alone, it stands as a testament to the unwavering strength, dedication, and unity of everyone in Wing 382. I accept it with the deepest respect and gratitude toward my peers, instructors, and everyone who has been part of this journey. We have pushed each other to grow, to lead, and to serve with courage, integrity, and compassion,” he said.
Johan is deployed to Central District and is one of the 16 recruits who were born overseas.
Twenty-four recruits speak more than one language with one recruit speaking five different languages.
This graduation is significant in that it marks the highest number (five) of Pathway to Police (P2P) participants graduating thanks in part to their volunteer involvement in Community Patrols New Zealand (CPNZ). The Pathway to Police is a programme that helps people become police officers in New Zealand. It includes training, community patrolling, and job previews.
All Awards:
Minister’s Award recognising top student: Constable Lauren Baker, posted to Wellington District.
Commissioner’s Award for Leadership: Constable Johan Roos, posted to Central District.
Patron’s Award for second in wing recognising second top student and the winner of the Firearms Award: Constable Matthew Eadie, posted to Counties Manukau District.
Driver Training and Road Policing Practice Award: Constable Jennifer Mackinnon posted to Bay of Plenty District.
Physical Training and Defensive Tactics Award: Constable Jack Crossman, posted to Bay of Plenty District.
Deployment:
The new constables will start their first day of duty in their Police districts the week starting Monday 25 March 2025 and will continue their training on the job as probationary constables.
Northland 2, Tāmaki Makaurau a total of 24 and broken down as follows: Auckland – 4, Waitematā – 1, Counties Manukau – 19, Waikato – 4, Bay of Plenty – 10, Eastern – 6, Central – 5, Wellington – 11, Tasman – 3, Canterbury – 7, Southern – 4.
Demographics:
31.6 percent are female, 68.4 percent are male. New Zealand European make up 71.1 percent of the wing, with Māori 6.6 percent, Pasifika 6.6 percent, Asian 13.2 percent, LAAM 2.6 percent.
382 Wing Patron:
The Hon Anne Tolley has had wide experience in local and national politics over the past 30 years. She has recently been the Commission Chair for Tauranga City Council. Elected to the Napier City Council in 1986, she was Deputy Mayor for six years. She also served one term on the inaugural Hawke’s Bay Regional Council. In 1999, Anne was elected to Parliament as a National Party MP based in Napier, and then successfully contested the election for the East Coast Electorate in 2005. She held that seat until her retirement from national politics in 2020. Anne served for nine years as a government minister, holding the portfolios of Education, Police, Corrections, Ministry of Social Development, Children, and Local Government. She was the first woman to be Minister of Education. From 2017 to 2020, she served as Deputy Speaker of the House. Anne is Chair of Transparency International New Zealand’s Board and is a Justice of the Peace (JP).
Watch out for our Ten One story coming soon with more images and stories.
ENDS
Issued by Police Media Centre
ENVIRONMENT – Have your say on application for new fungicide
Source: Environmental Protection Authority
Local News – Porirua City to consult on rates increase starting point of 6.75%
Source: Porirua City Council
Housing Market – No sizzle this summer for residential property market – QV
It’s been a flat summer for New Zealand’s housing market, in spite of falling interest rates.
Our latest QV House Price Index shows residential property values have increased nationally by an average of just 0.5% in the three months to the end of February 2025. The average home is now worth $912,904, which is 1.4% less than the same time last year and 14.1% below the market’s peak in late 2021.
QV operations manager James Wilson said it had been the housing market’s flattest summer in six years – since home values increased by just 0.4% throughout the pre-Covid summer months of December, January, and February in 2019.
“After some pretty significant volatility throughout the past half-decade, the housing market now appears to have well and truly stabilised,” he said. “We’re no longer seeing so many significant shifts up or down, with home values staying ‘steady as she goes’ over the summer, despite falling interest rates and a spreading expectation that we’re now through the worst of it.”
Across New Zealand’s main urban areas, Auckland (0.6%) and Wellington (0.3%) sat on either side of the national average this quarter and Christchurch (0.9%) did little better. Rotorua (2.1%), Napier (2.1%) and Invercargill (2.1%) experienced the most growth on average, while Hastings (-3.4%), Marlborough (-0.5%) and Whangarei (-0.5%) experienced the largest home value reductions.
“Although interest rates have come down notably in recent months, the resulting increase in demand is being partially offset by a slowdown in population growth and a large surplus of properties for sale. Affordability issues are still evident in the main urban areas in particular, with unemployment still being of major concern for many Kiwis,” Mr Wilson said.
“As for investors, anecdotal evidence from across the country suggests that growing numbers are looking to re-enter the market in 2025, but it’s still going to take a while before interest rate relief fully phases through and debt-to-income ratio limits will undoubtedly be a barrier for many of them.”
In the meantime, Mr Wilson said first-home buyers were still largely in the ascendancy, provided they had job security and their finances in order. “Although economic conditions have been remarkably tough on everyone, first-home buyers have benefited in recent times from there being far less competition with investors,” he said.
“When things do eventually get more competitive, and all the excess stock on the market today is eventually absorbed, then we’ll see prices start to grow once more. That’s not looking imminent. In fact, at this early stage it appears as though we could well be in for a relatively flat autumn too,” he concluded.
Download a high resolution version of the latest QV value map here.
Northland
Home values remain relatively static across the Northland region.
Our latest QV House Price Index shows Kaipara District’s average home value increased by 1.4% to $833,882. The average home value in the Far North reduced by nearly as much, dropping 1.3% to $693,763.
In Whangarei, the average home value reduced by 0.5% to $715,537, which is a slightly larger reduction than the 0.3% decline reported in the January quarter.
Auckland
It’s been a flat summer for Auckland’s housing market.
The city’s average home value has increased by 0.6% to $1,245,626 in the three months to the end of February 2025, including no growth whatsoever last month.
All bar one of the Super City’s seven former local council areas recorded a small rise in average home value this quarter, with Papakura (-1.7%) recording the only reduction. Auckland (1%) saw the biggest rise, with the North Shore (0.9%) and Franklin (0.9%) close behind.
The average home value in Auckland is 3.1% lower than the same time last year and 19.2% below the market’s peak in late 2021.
Bay of Plenty
Home values have continued to slowly bubble upward in Tauranga.
The city’s average home value increased by 1.6% to $1,020,948 in the February quarter – up slightly on the 1.4% growth recorded in the three months to the end of January. The average home value is now 1.9% lower than the same time last year.
Meanwhile, home values have also risen by an average of 1.4% across the wider Bay of Plenty region this quarter. Rotorua (2.1%) recorded above average growth; Gisborne (0.8%) and Western Bay of Plenty (0.6%) were a little below.
Waikato
Home values reduced across the broader Waikato region by an average of 0.4% in the February quarter.
Hamilton, however, performed slightly above average – its average home value increased by 0.6% to $788,171. That figure is now just 0.4% lower than the same time last year but remains 14.1% below the peak of the market in late 2021.
Local QV registered valuer Marshall Wu said the housing market was exhibiting early indications of some improvement, driven by expectations of further monetary easing following the first rate cut in February 2025.
“Lower mortgage rates are generally expected to stimulate housing demand and enhance affordability. When combined with easing cost of living pressures, improved consumer sentiment and rising income, these factors should contribute some stability to the housing market,” he said.
“A decline in new build approvals is also expected to help support local housing prices, further bolstered by high labour and material costs.”
However, he noted that the increase in demand driven by lower interest rates could be partially offset by a slowdown in population growth. “Declining migration figures are likely to reduce rental demand, potentially leading to a decrease in housing purchases.”
In the meantime, purchasers continue to benefit from a wider selection of available properties. “Given the prevailing economic softness and rising unemployment rate, the likelihood of a significant housing market growth cycle in 2025 remains low,” Mr Wu added.
Taranaki
New Plymouth has outperformed its neighbouring districts this quarter.
The city’s average home value grew by 1% to $725,536. That figure is now 1.7% higher than the same time last year.
In contrast, average home values reduced in the districts of Stratford and South Taranaki by 2.6% and 5.3% this quarter respectively.
Hawke’s Bay
Napier and Hastings had contrasting quarters – home values increased by an average of 2.1% in the former and reduced by 3.4% in the latter.
Across the wider Hawke’s Bay region, home values decreased by just 0.4% throughout the three months to the end of February 2025. It means the average home in the region is now worth 1.4% less than the same time last year.
Palmerston North
Home values have remained relatively flat this summer in Palmerston North.
Our latest QV House Price Index shows that the city’s average home value increased by 0.9% to $637,895 throughout the three months to the end of February 2025. The average home is now worth 0.7% less than at the same time last year.
Local QV registered valuer Olivia Betts said the local property market had remained relatively stable since June 2023 – a trend that she expected would continue into 2025.
“Interest rates have continued to decrease, which is helping to improve affordability – although there may still be a significant number of fixed-rate mortgages coming to an end, which could affect market dynamics. Despite these factors, the housing market is expected to remain relatively steady overall in 2025,” she said.
Wairarapa
Home values in Wairarapa have shrunk by 1.7% on average since the start of summer.
The district of South Wairarapa experienced the largest decline throughout this period – a 1.9% quarterly reduction to $756,229. Masterton’s average home value also reduced by 1.6% to $564,659, and home values in Carterton fell by 0.8% to a new average of $621,334.
Wellington
Residential property values have remained relatively motionless throughout much of the Wellington region this summer.
Our QV House Price Index for February 2025 shows that Wellington’s average home value has increased by just 0.3% to $840,884 this quarter.
That’s an even smaller increase than the 0.5% growth recorded throughout the three months to the end of January, and the 0.4% growth recorded throughout the three months to the end of December last year.
“Values continue to be relatively flat in the Wellington region, owing to the high stock levels and the continued cautious approach being taken by buyers,” said local QV senior consultant David Cornford. “Public sector workforce contraction also continues to impact the Wellington property market.”
“Provided you do have job security, now could be considered a favourable time to enter the market – particularly for first home buyers, given property values have likely reached or have nearly reached their trough in the cycle, interest rates have come back and there is ample choice in the market.”
Nelson
Home value growth remains slow but steady in Nelson.
The city’s average home value has risen by 1.6% to $793,505 in the February quarter, yet remains only 1.8% higher than at the same time last year.
“According to agents, most activity is in the $550,000 to $800,000 price bracket – very much like we saw at the end of 2024. That price bracket includes first-home buyers and a limited number of investors,” said local QV valuer Geoff Butterworth.
West Coast
Low sales volumes are still causing the West Coast’s housing statistics to fluctuate from month to month and quarter to quarter.
Our QV House Price Index for February 2025 shows that average home values have increased the most in Grey District over the last six months – rising 5.5% to $447,242 – with Buller and Westland now showing much more muted growth of 1.3% and 1.1% respectively.
Canterbury
Property values have remained largely immobile this summer in Christchurch despite recent interest rate reductions.
The Garden City’s average home value has grown throughout the three months to the end of February by 0.9% to $769,984. That figure is 1.3% higher than the same time last year.
It was a similar story in Waimakariri, where the average home has increased in value by 1.4% to reach $719,308 this quarter. Hurunui, in contrast, recorded a small 1.2% quarterly home value reduction to $641,420. Selwyn’s average home value also grew by just 0.3% to $843,378.
Local QV senior consultant Olivia Brownie commented: “After an active start to summer in the residential property market with some consistent growth in house values, there has now been a slight slowing in value growth. Perhaps this is due to the post-holiday increase in property listings and purchasers awaiting more interest rates cuts.”
“With the number of listings and tight national economic conditions, we expect minimal value growth over the coming months. Yet due to decreasing interest rates and increasing lending capabilities we also do not see any decline on the horizon. A decline in rents and an increase in rental properties available may also have a future influence on house prices in certain property types.”
Meanwhile, across the wider Canterbury region this quarter, the average home value dipped by 0.7% to $530,663 in Timaru, and increased by 1.5% to $568,744 in Ashburton.
Otago
Property values have been kept at a virtual standstill this summer in Otago.
Our latest QV House Price Index shows the Otago region’s average home value has remained unchanged this quarter, with Waitaki (0.3%) and Dunedin (0.3%) experiencing just miniscule growth on average since the start of December last year.
Local QV registered valuer Rebecca Johnston said it continued to be a buyers’ market in Dunedin. “Interest rates have continued to drop following the latest OCR announcement, while new listings continue to climb, giving potential purchasers plenty of choice.”
“Developers are now shifting to more sought-after locations, including Maori Hill and St Clair, and periphery suburbs to produce a higher-value end product, enhanced by the higher density zoning from the city’s 2nd Generation District Plan and the lower level townhouse supply now being somewhat saturated. This trend is expected to continue, with demand for quality warm housing and one fifth of Dunedin’s housing stock older than 1920,” she said.
Meanwhile, Central Otago has been the most buoyant of Otago’s districts this summer; its average home value grew by 2.1% in the three months to the end of February 2025.
Queenstown
Residential property values are down again slightly in Queenstown.
Our QV House Price Index for February shows the average property value has reduced locally by 0.4% this quarter to $1,820,880. That is a smaller reduction than the 1.5% average decline recorded in the January quarter.
Values in Queenstown are now just 0.3% lower on average than at the same time last year.
Invercargill
Residential property values have grown again in Invercargill this quarter.
Our latest QV House Price Index shows that the city’s average home value has increased this quarter by 2.1% to $500,344.
However, QV registered valuer Andrew Ronald noted that the city’s average home value remained static in the month of February itself. “The latest QV House Price Index for Invercargill shows home values increased by just 0.01% compared to the previous month,” he said.
“There is still steady demand from first-home buyers and investors are beginning to return to the market with the restoration of interest tax deductibility rules. Agents are reporting strong interest for properties under $600,000 and multiple offers are common. This is likely to flow through to strengthening value levels over the next few months.”
Business News – Over 300 people remove nearly a tonne of Manukau Harbour rubbish in one morning
Source: Hirepool
Speech to NZ Infrastructure Investment Summit – Choose New Zealand
Source: New Zealand Government
Tēna koutou katoa. Greetings everyone.
It’s a pleasure to be here today, to feel your energy and the sense of possibility and opportunity in this room. Whether you’ve travelled from the other side of the world or took on Auckland traffic to be here, your presence matters.
I’m here today as a proud New Zealander, one of a team of Government Ministers determined to make much more of the enormous potential of this incredible country. To:
- improve the quality of peoples’ lives
- deliver better public services and
- create great jobs for our kids;
That last point is especially important for me, on a personal level: I’m a mother of four children aged 9, 12, 13 and 15. In this world of abundant choices for them, in terms of where they take their skills, where they take their lives, I want them – and all young Kiwis – to see this as a country of aspiration, and a place they should choose to make their home. I entered politics with a very strong conviction that strong leadership and good policy are needed to make this a place that the world’s talent will continue to make their home.
I serve as our Prime Minister as both our Finance Minister and our Minister for Economic Growth.
As Finance Minister, I take responsibility for managing our Government’s books. So yes, I am the bean-counter, and I am always on a perpetual mission to drive more value from the spending we do and the investments we make. I am the Ministerial colleague who takes pride in scrutinising the dollars, in reading through the business cases, and having the courage to say ‘no’ when proposals don’t stack up, and in saying ‘yes’ to innovations and partnerships that enhance the financial discipline and reliable delivery of vital public infrastructure.
I also have the privilege of being our Minister for Economic Growth, helping lead our Government’s growth agenda. Growth is central to our mission and purpose: not only is it our most powerful tool for strengthening our public finances and flattering those books of mine, it’s also the means by which we will create better choices, higher living standards and more financial security for our people.
Why should you invest in New Zealand?
New Zealand is incredibly well positioned for growth. We are an undervalued stock. We have a stable democracy, with strong institutions and enduring respect for the rule of law, that has survived over successive changes of government. We have safe borders, extraordinary natural resources, a temperate climate, strong trading relationships, an open, innovative culture – and you’ll see that open culture on display these next two days and expect to have some candid and frank conversations – that’s how we roll. We have talented people.
Let me paint that picture for you.
Our stable democracy
We ranked first on the World Bank’s ease of doing business index the last time the bank issued the index in 2019.
We rank second on the Economist Group’s Democracy Index and according to Transparency International we are the fourth least corrupt country in the world. This is a good, reliable place to do business.
We have safe borders, good international relations and extensive trading networks.
Of course, it is somewhat simpler to have safe borders when you are surrounded by ocean, as we are. Our nearest big neighbour is 1500km away. We have worked hard, over many decades, to establish diplomatic relations with a large number of countries in all regions of the world.
In 2024 we exported more than $101 billion worth of goods and services.
Our largest export markets are China, the US and Australia, but we export to 230 nations in total.
Across successive governments, we have weaved a constellation of close trading and economic relationships that give our exporters access to a broad range of markets on competitive terms.
Our main good exports are dairy products, tourism, meat, wool and forestry, but our exports extend to world-beating digital services, advanced manufacturing and exciting creative industries.
We have strong institutional settings
It should give you confidence that while elections may change things, many things will remain.
Over successive decades and Governments, we have worked hard to put in place best-practice institutional frameworks: an independent central bank with a remit for low and stable inflation – the first inflation-targeting regime in the world – and a floating exchange rate.
Our legal system, based on the British model, upholds the rule of law with an independent judiciary.
Our government accounts are prepared according to high international standards and are released in a timely fashion.
Stability is our middle name.
We have sound government accounts
Our Public Finance Act requires the government of the day to be transparent about both its short- and long-term fiscal objectives and to maintain prudent debt levels and report against these measures.
We have relatively low levels of government debt compared to other countries, with the IMF’s most recent Fiscal Monitor ranking us having relatively the 26th lowest level of public debt when compared to the 33 advanced countries they assess.
The Government is working hard to put net core Crown debt on a downward trajectory, balancing the need to ensure are resilient to and future economic shocks that may come our way while making room for the prudent investments needed to drive future productivity.
Labour market flexibility
We have a flexible labour market.
OECD comparisons rank us highly in terms of flexibility for hiring temporary workers, and for settings that allow high labour flows between jobs and industries.
Between 2000 and 2017 about one fifth of New Zealand workers switched jobs each year and about half of those job switches involved a change of industry.
This flexibility helps labour productivity by making it easier for workers to move from less productive to more productive firms, or to jobs that better match their skills.
We are well poised to adapt our workforce to the new industries and new challenges that are right upon us as a world, and that will continue to arise in the coming decades.
Similarly, our rates of long-term unemployment are low, and while we did not escape the post-Covid downturn in economic activity experienced throughout the world, our unemployment levels remain below historic averages.
We have flexible and responsive regulatory systems. We are small, and we are nimble. Our small size and our can-do attitude has translated to has translated to an ability to respond quickly to emerging opportunities.
A key example is that of space company Rocket Lab, which the Prime Minister referred to. It announced in late 2014, through its leader Peter Beck, that it wanted to launch rockets from a remote peninsula on the East Coast of the North Island.
Less than a year later, seized by that possibility and opportunity, the Government agreed to a new regulatory regime – a world-leading regulatory regime – to enable those rockets to launch.
That regime came into law in 2017 with the first launch by Rocket Lab taking place that same year.
We have done it before, and we are prepared to do it for emerging industries again.
Unlike some countries in the world, beset by large size and complexity, we have a parliament that allows these things to happen quickly.
We also have some of the best, most efficient and most sustainable farmers in the world, who take pride in making the most of our abundant natural resources.
We have a long history of not subsidising our farmers but instead having them face competitively into world markets.
Fonterra is the sixth largest global dairy producer and our sheep and beef farmers are internationally renowned. We feed tens of millions of people around the world, delivering products that meet exacting safety standards.
New Zealand’s exclusive economic zone is over 14 million square kilometres, the ninth largest in the world, and aquaculture is New Zealand’s fastest-growing food production sector.
We have abundant renewable energy. Eighty-eight per cent of our electricity comes from hydro, geothermal, wind, solar and other sources of renewable energy. We have no lack of land or desire or capacity for far far more renewable energy.
We are blessed with minerals and resources, and have huge capacity to make more of these. Legislative changes are paving the way for increased investment in the mining of gold, coking coal, mineral sands and critical minerals.
We have an entrepreneurial and innovative DNA
We pride ourselves – as the Prime Minister said – on what we call our number eight wire mentality – our ability to innovate.
New Zealand is, by and large, a country of small businesses, led by innovative people with a can-do attitude, some of whom make it very big.
Examples include cloud-based accounting software company Xero, Wētā Digital famous for its groundbreaking visual effects and Fisher&Paykel Healthcare, globally recognised for its work providing innovative healthcare solutions for more than 50 years.
We have a proud and accomplished indigenous population, with our Māori economy becoming an increasingly significant player in the New Zealand economy and contributing hugely to New Zealand’s unique national identity.
Over the five years to 2023 the Māori asset base increased from $69 billion to $126 billion. That was a faster rate of asset growth than for the economy as a whole – testament to the success iwi and Māori entities are having in making smart and long-term investment choices, underpinned by strong commercial discipline.
Over the same period the Māori economic contribution to gross domestic product increased from $17 billion to $32 billion. Mark my words, that growth is set to continue.
Changing attitudes
And we’ve been trading successfully internationally since the first contact between Europeans and Māori in the latter part of the 18th century.
We have some strong traditions. But I also think that New Zealand is at a moment of change. Some of that change isn’t things you can see, but it is a change in attitude.
Where once New Zealanders primarily were concerned about preserving what we already had, and our way of life as it has been, increasingly, New Zealanders have growing recognition of the need to embrace change if we want to provide opportunities for our children and fund high quality health, education and other public services.
That desire to change, that sense of ambition and possibility, is reflected in the Government’s reform agenda.
Let me give you some examples.
- Overseas investment
We recognize that the world doesn’t owe us a living and that every country in the world must compete for its share of the world’s wealth.
NZ’s foreign direct investment levels currently sits at around 40% of GDP compared to the OECD average of 53% as at 2023. There is untapped potential for more investment in this economy.
We are reforming our overseas investment settings to ensure more of the world’s capital can flow here and is encouraged to flow here. We are determined not to allow red tape or uncertain settings to disrupt investment and growth.
The impulse driving this reform is strong.
Over the past 10 years, New Zealand’s labour productivity growth has only averaged about 0.3 per cent a year.
Low capital intensity has been identified as one of the major causes of that low productivity.
In order to increase our productivity, we need more capital investment. And David Seymour has been changing the rules to ensure we can.
Therefore, we’re changing the rules to:
- Better reflect the benefits investment can provide to New Zealand’s economy
- make consenting decisions in just 15 days for all investments aside from residential land, farmland and fishing quota
- strengthen the Government’s ability to intervene on the rare occasions that a transaction is not in the national interest; and
Our goal is to increase New Zealand’s attractiveness as a destination for your investment.
2. Fast-track consenting
We’re acutely aware of the challenges and frustrations for the need for effective, timely and affordable approval processes for new projects.
We’re reforming our resource consenting rules, and fast-tracking the consenting process for projects of national and regional importance.
They include:
- renewable energy projects
- aquaculture businesses
- mining projects; and
- housing developments
3. Gearing up for a more stable and predictable infrastructure pipeline with more Public Private Partnerships
Our democracy is robust, and the contest of ideas in our Parliament is very lively, but we have found common ground, across parties, on the need for a more bipartisan approach to infrastructure planning and delivery. The presence of three opposition Parliamentarians here today is testament to that shared aspiration, and that sense of what is good for New Zealand over the long term.
The simply reality is that overcoming New Zealand’s infrastructure deficit demands an approach that can look through elections and any change of Government.
We do intend to be here for many, many years to come – but in the event that there is a change, we recognise the benefits that come from sequencing a clear pipeline of upcoming investments and have made institutional reforms to support this. Across all areas of public infrastructure we are working to logically identify, prioritise, and sequence the investments needed over the coming decade and beyond. You will hear a lot more detail about these plans from our Ministers over the course of this summit.
We are excited, also, by the opportunity for adoption of modern funding, financing and partnership approaches for the delivery of these public infrastructure projects.
The New Zealand Government has done eight public private partnerships so far. They include schools, roads and corrections facilities. We have learned from these, and we want to do more.
Of course, we’ll only do PPPs when they are in New Zealand’s best interests.
When negotiating PPPs our focus is on the enhanced delivery of public services not just cost.
We are interested in incentivising and allowing innovation, locating risk with those best-placed to address it, focusing decision-makers on whole-of-life outcomes and unlocking new funding sources.
We recognise that the people in this room bring not only capital but also skill, and experience that will allow us to deliver better infrastructure faster.
The outlook
Our Government has a clear mandate to drive growth-enhancing reforms across a broad range of public policy.
As I stand here today, I can be clear with you that there is a Government that wants to make this an even better place to do business. Whether it’s:
- Changing work visa to make it easier for employers to get the workers they need and to better facilitate foreign direct investment
- Reviewing competition rules with a view to increasing competition, we see huge possibility for new entrants in our grocery, and banking sectors, among others and we’re ensuring that our regulatory frameworks encourage innovation and disruption.
- Launching a minerals strategy
- We have also been working on a number of reforms across government to increase our education standards to ensure access to a skilled workforce,
- We have been reorienting the science and innovation system to focus more on commercialisation, and to make the most of new gene technologies.
Across all of these reforms, whether it is regional growth initiatives, whether it is macroeconomic reform, whether it is microeconomic reform, our focus is on making the most of what we have.
Conclusion
Like a lot of countries, New Zealand has been through a challenging few years.
But what I would put to you as I stand here today is that if I could choose to be any country in this particular moment in time, this moment of some uncertainty, of rapid change and of more concerns about security than I have seen in my generation, in a world in which people are worried about security – I would choose New Zealand.
In a world in which people are worried about food supply and the effect of extreme climatic events, I would choose New Zealand.
We have safe, secure borders, a temperate climate. We have abundant resources, robust institutions, strong cultural foundations and the best people. Our best years are ahead of us, and we are grateful to you for coming with us on this journey.
There are huge opportunities for you to generate value. There are huge opportunities for us to grow together. Let’s make New Zealand an even better place.
Thank you.
Delays on the Lower Buller Gorge week of 17 March
Source: New Zealand Transport Agency
| NZ Transport Agency Waka Kotahi
People who drive in and out of Westport via SH6, the Buller Gorge, are encouraged to build in an extra half hour to their trips next week, says NZ Transport Agency Waka Kotahi (NZTA).
A number of maintenance activities are being completed before the end of the summer construction season. Work will be underway 7.30 am to 5 pm weekdays.
On top of the sealing sites, there are also crews stabilising rock faces at a number of sites west of Inangahua Junction, says Moira Whinham, Maintenance Contract Manager for NZTA on the West Coast.
“At the rock scaling sites, there may be 20 minutes’ wait, so if people can build in that extra time, they will be better prepared,” says Miss Whinham.