Govt for the rich is failing the unemployed

Source: It’s time to fix the secondary teacher shortage

The latest job market statistics show that unemployed people are being failed by a Government more focused on punishing the poor than creating jobs.

“This Government for the rich is failing unemployed people and fuelling poverty,” says the Green Party’s spokesperson for Social Development and Employment, Ricardo Menéndez March.

“The economy belongs to us, we can build it for us. We can ensure people have stable employment and incomes instead of slashing jobs and cutting back on support for those trying to find work. 

“The Ministry of Social Development has recently admitted their frontline capacity is oversubscribed and unable to properly support people due to the punitive sanctions regime the Government has brought in. 

“There’s no evidence that sanctions work in helping people into jobs, and it’s clear the Government has no plan for supporting those who are struggling the most. 

“As the unemployment rate remains high, the Government is preparing an austerity Budget and rushing through legislation to stop pay equity claims, while also passing new laws to create more arbitrary sanctions on beneficiaries.

“All of this is part of the plan to fund tax cuts for the rich and profit from the poverty growing in our communities. 

“The Green Party will repeal all benefit sanctions and lift income support to ensure unemployed people are supported to find work. We will build an economy that works for all of us, not just a wealthy few. We look forward to sharing this vision with Aotearoa soon with our Green Budget,” says Ricardo Menéndez March.

Unemployment data shows real weakness behind the headline rate

Source:

Unemployment data released today by Statistics New Zealand shows ongoing weakness in the labour market, with falling employment, falling hours of work, and nearly half of all workers getting a pay rise less than inflation, said NZCTU Te Kauae Kaimahi Economist Craig Renney.

“While the unemployment rate number stayed at 5.1%, the number of people working full-time fell by 45,000 while the number working part-time increased by 25,000. People can’t find all the work they need to get by,” said Renney.

“This data demonstrates that there are now 37,000 more unemployed people than at the last election. Māori unemployment is now at 10.5% and Pacific unemployment is at 10.8%. Employment fell in manufacturing, construction, retail, education, and health care. There are now nearly 3 million fewer hours being worked in the economy.

“The weakness of current economic growth is also being reflected in the wage data. Total weekly gross earnings rose by less than inflation at 2.4% annually. 41% of workers saw no pay rise at all. It’s clear that workers are struggling to get the wage increases they need to keep up with the cost of living.

“Youth unemployment continues to rise. There are now 70,700 15–24-year-olds unemployed and 96,600 are not in employment, education or training. There is no plan to help these younger workers, and they are bearing the brunt of employment change.

“Without changes to the Government’s economic approach, things will likely get worse. In 2022 New Zealand was sixth in the OECD rankings for unemployment. We are now 18th.

“The Budget this month will likely see forecasts of unemployment rising in the future. It’s time to change course and deliver policies that ensure good work and fair pay for all,” said Renney.

Name release: Fatal crash, Central Otago

Source: New Zealand Police

Police can now name the man who died in a single-vehicle crash on Bannockburn Road on 17 February.

He was William Booth, 33, from Nevis.

Police extends our sympathies to his family and friends during this difficult time.

Enquiries into the crash are ongoing.

ENDS

Issued by Police Media Centre

Sex life of rare snail revealed

Source: Police investigating after shots fired at Hastings house

Date:  07 May 2025

In the video, a small egg, resembling a tiny hen’s egg, emerges from the neck of the unique land snail.

DOC has been managing a captive population of the threatened snails in chilled containers in Hokitika since 2006, when mining company Solid Energy started mining their habitat on the Mt Augustus ridgeline on the western side of the Stockton Plateau, near Westport.

DOC Ranger Lisa Flanagan, who filmed the egg being laid, has been looking after the snails in Hokitika for over 12 years. She says working with the snails isn’t the kind of job she ever imagined herself doing, but it’s constantly providing surprises.

“It’s remarkable that in all the time we’ve spent caring for the snails, this is the first time we’ve seen one lay an egg. We caught the action when we were weighing the snail. We turned it over to be weighed and saw the egg just starting to emerge from the snail.”

DOC Senior Science Advisor Kath Walker says having a hard shell in which to retreat from predators and dry conditions is a great strategy for the snails but brings some problems too – how to get sperm from your mate into your shell and any resultant eggs out!

“Powelliphanta have solved this by having an opening (a genital pore) on the right side of their body just below their head so that the snail only needs to peek out of its shell to do the business.

“It extends its penis out of this pore and into its mate’s pore, and its mate does the same, simultaneously exchanging sperm, which they can store until they each fertilise the sperm they’ve received to create eggs.

“As hermaphrodites, they have both male and female genitalia, so although they usually mate with another to cross fertilize their eggs, as carnivores which have to live at relatively low density, being able to occasionally self-fertilise must help with survival of the species.”

The captive management of Powelliphanta augusta snails has saved these animals from extinction and enabled us to learn more about the lives of these incredible creatures, which are only found in New Zealand.

Very little was known about the snails when they were taken into captivity, and we are discovering new things all the time, says Lisa.

“I just love watching their progress each month, weighing them, how their shells develop, and all the interesting things they do.

“Powelliphanta augusta are slow growing and long lived, not being sexually mature until they are about 8 years old and then laying only around 5 big eggs annually which can take more than a year to hatch. Some of our captive snails are between 25 and 30 years old – in this they’re polar opposites to the pest garden snail we introduced to New Zealand which is like a weed, with thousands of offspring each year and a short life.”

DOC has established new populations of the snail in the wild and reintroduced them into new and rehabilitated habitat. Work is ongoing to ensure a sustainable population in these areas. A captive population will be managed until there is confidence of the survival of the species in the wild.

Aotearoa has one of the highest numbers of threatened and at risk species in the world. Once these species are gone, they are gone for good.

Contact

For media enquiries contact:

Email: media@doc.govt.nz

Murder charge laid in Waiuku homicide

Source: New Zealand Police

Police have today charged a man with murder in the Waiuku homicide investigation launched in early April.

Judith Rose Cunniffe, 54, was located deceased in a vehicle on 11 April.

A 50-year-old man was arrested at the time and was initially charged with male assaults female.

Detective Senior Sergeant Kevin Tiernan, of Counties Manukau CIB, says enquiries by the homicide investigation team have been ongoing since that time.

“The 50-year-old has been remanded in custody since his first appearance, and has today been charged with murder,” he says.

“He will appear on this charge at his next court appearance in Pukekohe today.”

Police are not seeking anyone else in connection with the investigation.

ENDS.

Jarred Williamson/NZ Police

Police still seeking Amiria Wall

Source: New Zealand Police

Police are still wanting to locate Amiria Wall, who has a warrant to arrest for fraud related offences.

Wall, who goes by the name ‘Armie’, is believed to be in the Auckland region.

More recent photos obtained by Police show Wall, 43, may have shorter, coloured hair.

If you have seen Armie or have any information that may assist in locating her, please update us online now or call 105. Use the reference number 240813/5477.

ENDS

Amanda Wieneke/NZ Police

Parliament Hansard Report – Tuesday, 6 May 2025 (continued on Wednesday, 7 May 2025) – Volume 783 – 001469

Source: Govt’s austerity Budget to cause real harm in communities

HELEN WHITE (Labour—Mt Albert): Thank you, Madam Chair. I was listening really carefully last night. The frustrations of these debates is that often we don’t take the discussion forward, so I want to do a little bit of that today, but I want to make sure that I’m mindful of what you’ve talked about in terms of bringing up new issues.

One thing that came up last night is the issue of exceptional circumstances on the length of time that people are unable to take a claim. What we haven’t really heard is what is envisaged as exceptional circumstances and where it will apply. So I’ve been thinking about some of the cases I had where I was concerned about inequity and how it would apply in those circumstances. So I’ve got a couple of questions: I might take you through a few scenarios and ask you to explain how the new legislation will work.

For example, I had one woman—the case has always haunted me. She was on very low pay and she had been a caregiver her entire career. She had actually worn herself out in the job by lifting, and her employer frustrated her employment because she could no longer lift patients. She would have been in her early 60s. So she was basically just given a termination notice over a time. A person like that—are they a person where they might be able to reopen for that group of people who are of that age? So they’re not going to be able to take a case in their late 60s, because they’re going to be terminated from their employment for a long time—are they a person who might have exceptional circumstances applied to them, because their career is ending, and it might end at a time which isn’t necessarily retirement time even?

So how flexible is the rule going to be in terms of who can reopen the issue because, in fact, their personal circumstances are going to be affected. I heard a lot from the Minister about how we always had to think about the big systems and we weren’t concerned about the individuals. But obviously there’s a real balancing act, and when it comes to something like exceptional circumstances, that is where I’d expect the balancing act to take place.

Now, a similar issue is one about opt-out provisions, because what I heard the Minister talk about was a system—I think this is clause 15—and this is an issue about who can opt out from a multi-employer claim. So take my woman that I’ve just given you—a real human, a multi-employer claim—with her particular provider of care services. Is that employer able to, halfway through a claim, think, “OK, I want to opt out of this claim.” So she’s relying upon a claim that’s being made by many employers at once, or going through a process with that.

The employer that was employing her—are they allowed, under this, to actually leave, and, if so, my understanding is they don’t have to provide reasons as to why they leave, but they leave her high and dry because she’s no longer covered by the claim. It says that they’re allowed to leave without providing reasons, but it’s got to be based on reasonable grounds. Well, sorry, how do we know what grounds it’s based on if they never have to provide any reason? What’s the balance, what’s the check-in place that means that her employer can’t just walk away in the middle of something where that is the only process that she’s got, and not have reasonable grounds? How do we know that there are reasonable grounds?

Then it says—my understanding is that the employer’s decision to opt out cannot be challenged by another party. So is that right? Are we saying that nobody can challenge [Time expired] Sorry, Madam Chair?

CHAIRPERSON (Barbara Kuriger): Helen White. I’ll let Helen White finish her question, but please can you—

HELEN WHITE: I’ll move on to one other point—

CHAIRPERSON (Barbara Kuriger): Yeah, short call.

HELEN WHITE: I hope that you’ve understood that point.

I’d also just like to talk about—and I really, really, would genuinely like an answer over the issue of back-pay. What I got didn’t go far enough into the logic of the situation here. If you’ve got an embargo on the authority awarding back-pay, when that happens and somebody can’t award at the end—and my understanding from the Minister’s answer last night is you can still negotiate back-pay—isn’t the reality that we’re going to see more back-pay claims because there’s no stick, there’s nothing where somebody can award it? And so we’re going to have these people who have 10 years to go for their claim and they’re being discriminated against every one of those years, and it’s an accumulation of harm to them—they’re missing out on all the interest, they’re missing out on all the wages over that time, their KiwiSaver’s being affected, etc. And their employer’s going to go, “Well, what is in it for me, because I do not have to give you any form of back-pay, and you’ve missed out for a 10-year period, and all I have to do is commit on the last possible time I can in that process to something that doesn’t discriminate going forward, and then we’re locking in for another 10-year period before you can go for it again, so I can discriminate for the next 10 years.”

Isn’t that the impact of what is happening, and what I’d like to know from the Minister is: if I’m right, because I’m pretty sure I am, then how is the Minister going to monitor the failure? I suspect what we’ll see is our equity claim change entirely. We’re going to see a wider gap. We’re going to see a wider Pasifika gap, we’re going to see a wider gap in pay. What is going to happen to make sure that if she’s so confident that this isn’t going to cause a problem—what is going to happen in two years? Are we going to see a monitoring of this situation by the Minister to see whether that gap’s growing again, because I’m pretty sure we are going to see a gap growing.

I appreciate the Minister saying it’s very confusing at the moment because we do deal with this in bargaining, as if it’s illegitimate to deal with in bargaining, but we’re not going to necessarily know. Well, what’s the other side of that coin? What processes are being put in place to look at this gap and measure the gap in other ways so that there can be an intervention, and I’m going to go right back and say, “Is this an exceptional circumstance, where we see the gap?”—where somebody like the woman from AUT, who’s the academic in this area and is measuring the gap, sees the gap grow and says to the Minister, “Actually, it’s happening in this sector.” Is that an exceptional circumstance where we might open again, because it seems to me that New Zealand women are going to pay the price for 10 years and then they’re never going to be able to claim back? And this is going to happen. So there’s going to be an adjustment every 10 years, with weak bargaining power, not strong bargaining power—actually, artificially weakened bargaining power. Because under the old law, under the 1970s law, they could’ve claimed the lot. They could have actually gone out and claimed the lot, and what we’ve done is we’ve robbed them today.

So can I please have an answer to those various questions? I appreciate the time that I’ve been given. Thank you.

Parliament Hansard Report – Equal Pay Amendment Bill — In Committee—Part 1 – 001468

Source: Govt’s austerity Budget to cause real harm in communities

HELEN WHITE (Labour—Mt Albert): Thank you, Madam Chair. I was listening really carefully last night. The frustrations of these debates is that often we don’t take the discussion forward, so I want to do a little bit of that today, but I want to make sure that I’m mindful of what you’ve talked about in terms of bringing up new issues.

One thing that came up last night is the issue of exceptional circumstances on the length of time that people are unable to take a claim. What we haven’t really heard is what is envisaged as exceptional circumstances and where it will apply. So I’ve been thinking about some of the cases I had where I was concerned about inequity and how it would apply in those circumstances. So I’ve got a couple of questions: I might take you through a few scenarios and ask you to explain how the new legislation will work.

For example, I had one woman—the case has always haunted me. She was on very low pay and she had been a caregiver her entire career. She had actually worn herself out in the job by lifting, and her employer frustrated her employment because she could no longer lift patients. She would have been in her early 60s. So she was basically just given a termination notice over a time. A person like that—are they a person where they might be able to reopen for that group of people who are of that age? So they’re not going to be able to take a case in their late 60s, because they’re going to be terminated from their employment for a long time—are they a person who might have exceptional circumstances applied to them, because their career is ending, and it might end at a time which isn’t necessarily retirement time even?

So how flexible is the rule going to be in terms of who can reopen the issue because, in fact, their personal circumstances are going to be affected. I heard a lot from the Minister about how we always had to think about the big systems and we weren’t concerned about the individuals. But obviously there’s a real balancing act, and when it comes to something like exceptional circumstances, that is where I’d expect the balancing act to take place.

Now, a similar issue is one about opt-out provisions, because what I heard the Minister talk about was a system—I think this is clause 15—and this is an issue about who can opt out from a multi-employer claim. So take my woman that I’ve just given you—a real human, a multi-employer claim—with her particular provider of care services. Is that employer able to, halfway through a claim, think, “OK, I want to opt out of this claim.” So she’s relying upon a claim that’s being made by many employers at once, or going through a process with that.

The employer that was employing her—are they allowed, under this, to actually leave, and, if so, my understanding is they don’t have to provide reasons as to why they leave, but they leave her high and dry because she’s no longer covered by the claim. It says that they’re allowed to leave without providing reasons, but it’s got to be based on reasonable grounds. Well, sorry, how do we know what grounds it’s based on if they never have to provide any reason? What’s the balance, what’s the check-in place that means that her employer can’t just walk away in the middle of something where that is the only process that she’s got, and not have reasonable grounds? How do we know that there are reasonable grounds?

Then it says—my understanding is that the employer’s decision to opt out cannot be challenged by another party. So is that right? Are we saying that nobody can challenge [Time expired] Sorry, Madam Chair?

CHAIRPERSON (Barbara Kuriger): Helen White. I’ll let Helen White finish her question, but please can you—

HELEN WHITE: I’ll move on to one other point—

CHAIRPERSON (Barbara Kuriger): Yeah, short call.

HELEN WHITE: I hope that you’ve understood that point.

I’d also just like to talk about—and I really, really, would genuinely like an answer over the issue of back-pay. What I got didn’t go far enough into the logic of the situation here. If you’ve got an embargo on the authority awarding back-pay, when that happens and somebody can’t award at the end—and my understanding from the Minister’s answer last night is you can still negotiate back-pay—isn’t the reality that we’re going to see more back-pay claims because there’s no stick, there’s nothing where somebody can award it? And so we’re going to have these people who have 10 years to go for their claim and they’re being discriminated against every one of those years, and it’s an accumulation of harm to them—they’re missing out on all the interest, they’re missing out on all the wages over that time, their KiwiSaver’s being affected, etc. And their employer’s going to go, “Well, what is in it for me, because I do not have to give you any form of back-pay, and you’ve missed out for a 10-year period, and all I have to do is commit on the last possible time I can in that process to something that doesn’t discriminate going forward, and then we’re locking in for another 10-year period before you can go for it again, so I can discriminate for the next 10 years.”

Isn’t that the impact of what is happening, and what I’d like to know from the Minister is: if I’m right, because I’m pretty sure I am, then how is the Minister going to monitor the failure? I suspect what we’ll see is our equity claim change entirely. We’re going to see a wider gap. We’re going to see a wider Pasifika gap, we’re going to see a wider gap in pay. What is going to happen to make sure that if she’s so confident that this isn’t going to cause a problem—what is going to happen in two years? Are we going to see a monitoring of this situation by the Minister to see whether that gap’s growing again, because I’m pretty sure we are going to see a gap growing.

I appreciate the Minister saying it’s very confusing at the moment because we do deal with this in bargaining, as if it’s illegitimate to deal with in bargaining, but we’re not going to necessarily know. Well, what’s the other side of that coin? What processes are being put in place to look at this gap and measure the gap in other ways so that there can be an intervention, and I’m going to go right back and say, “Is this an exceptional circumstance, where we see the gap?”—where somebody like the woman from AUT, who’s the academic in this area and is measuring the gap, sees the gap grow and says to the Minister, “Actually, it’s happening in this sector.” Is that an exceptional circumstance where we might open again, because it seems to me that New Zealand women are going to pay the price for 10 years and then they’re never going to be able to claim back? And this is going to happen. So there’s going to be an adjustment every 10 years, with weak bargaining power, not strong bargaining power—actually, artificially weakened bargaining power. Because under the old law, under the 1970s law, they could’ve claimed the lot. They could have actually gone out and claimed the lot, and what we’ve done is we’ve robbed them today.

So can I please have an answer to those various questions? I appreciate the time that I’ve been given. Thank you.

Parliament Hansard Report – Tuesday, 6 May 2025 – Volume 783 – 001467

Source: Govt’s austerity Budget to cause real harm in communities

Question No. 8—Health

8. Hon Dr AYESHA VERRALL (Labour) to the Minister of Health: Is his first priority as Health Minister still “focusing Health New Zealand on delivering the basics and achieving targets”; if so, why have wait times for first specialist assessment and elective treatments worsened?

Hon SIMEON BROWN (Minister of Health): Yes, you cannot manage what you don’t measure, and that’s why this Government reinstated health targets: to drive accountability and ensure access to timely, quality healthcare. Too many New Zealanders are waiting too long for first specialist assessments and elective treatments, and addressing this is a priority. Wait-lists have been growing over several years. Despite an increase in elective procedures and first specialist assessments being completed last year, the rate at which people were being referred on to wait-lists continues to outpace the rate at which people were receiving treatment or being seen. However, I’m pleased to inform the member that Health New Zealand advises me that the number of patients waiting for a first specialist assessment in the week ending 13 April has reduced by over 8,000 since the first week of January.

Hon Dr Ayesha Verrall: How can he expect others to be accountable for targets, if he doesn’t own up that there has been a 6 percent deterioration in first specialist assessments, and a 3 percent deterioration in elective treatments since the change of Government?

Hon SIMEON BROWN: If we’re going to talk about percentages, we could talk about the 6,500 percent increase in the number of people waiting more than four months for a first specialist assessment when that party was in Government; or we could talk about the 2,500 percent increase in the number of people waiting for an elective treatment more than four months, while that party was in Government. The wait-list ballooned. We’ve put in place targets. Now we’re focusing the system on delivery so that people can get the healthcare they need in a timely and quality manner.

Hon Dr Ayesha Verrall: Who does he expect to do the additional procedures, when Health New Zealand’s last quarterly workforce report shows 310 fewer nurses and 47 fewer doctors employed in our health system?

Hon SIMEON BROWN: There are more doctors and more nurses working at Health New Zealand than in 2023. We’re investing in front-line services and we’re focusing on ensuring that we treat the patients and get the timely and quality access to healthcare that is needed. As I said in my primary answer, I’m pleased to inform the member that Health New Zealand advises me that the number of patients waiting for a first specialist assessment in the week ending 13 April has reduced by over 8,000 since the first week of January. That is progress. Because of the huge wait-list that we inherited, it’s going to take time to deliver. I’m focused on delivery.

Hon Dr Ayesha Verrall: Does he stand by his statement “There is no such thing as a hiring freeze.”, or does he accept that official statistics now show hiring has been frozen?

Hon SIMEON BROWN: There are more doctors and more nurses working at Health New Zealand today than there were in 2023. We’re investing in front-line health workforces and we’re focusing on delivery. We’re investing $16.68 billion over three Budgets, so we can invest in the front-line services that New Zealanders need.

Rt Hon Winston Peters: Could the Minister confirm that with the last three answers on the statistical improvements that he gave in those answers, the primary question, or the questioner, was demonstrably, deliberately false?

Hon SIMEON BROWN: We’re focused on delivery. We’re focused on outcomes. We have more doctors and more nurses working at Health New Zealand today than in 2023. We’re focused on outcomes. As I said in my primary answer, 8,000 fewer people are waiting on the first specialist assessment wait-list for the week ending 13 April than in the first week of January. That’s progress. We inherited massive wait-lists which ballooned under the previous Government, and we are focused on getting patients the care they need.

Hon Dr Ayesha Verrall: Why did he try to blame senior doctors for longer waits for treatment, when it is his Government’s hiring freeze that means New Zealanders are going without the care they need?

Hon SIMEON BROWN: I was very clear when it came to the union deciding to go on strike that they should have put the offer that was presented to them a week prior to the strike to their members to vote on, rather than going on a strike which has caused 4,300 elective treatments or first specialist assessments to be delayed. That’s unacceptable. We must put patients first.

Debbie Ngarewa-Packer: Supplementary.

SPEAKER: Question No. 9—just waiting for a bit of quiet.

Debbie Ngarewa-Packer: Supplementary.

SPEAKER: Oh, supplementary. Debbie Ngarewa-Packer.

Debbie Ngarewa-Packer: Thank you. How does the ministry’s decision to remove ethnicity as a factor in wait-times align with his targets to reduce wait-times when Māori are still waiting longer for treatment than non-Māori?

Hon SIMEON BROWN: Our Government is very clear: we are focusing on need and we’re focusing on making sure that we are ensuring that patients get the treatment they need in a timely and quality manner, and that applies to all New Zealanders.

Debbie Ngarewa-Packer: Point of order. That was a mischaracterisation of the actual question. The question, which is an equity-based, policy-based, needs-based—

Hon Judith Collins: Just ask the question.

Debbie Ngarewa-Packer:—addresses Māori and Pacific Islanders, and there wasn’t actually an answer in that—thanks, Judith.

SPEAKER: Well, the Minister could say the same thing again if he likes.

Hon SIMEON BROWN: The Government is focusing the health system to treat people based on the needs that they have and ensuring that all New Zealanders can get the access to timely and quality healthcare.

Debbie Ngarewa-Packer: Supplementary.

Rt Hon Winston Peters: Supplementary question.

SPEAKER: Supplementary—Debbie Ngarewa-Packer.

Rt Hon Winston Peters: How did that go?

SPEAKER: Because she was faster off her feet.

Rt Hon Winston Peters: No, she wasn’t.

SPEAKER: Yes, she was. I’m pretty sure. Debbie Ngarewa-Packer—it was like a blur; you could hardly see it.

Debbie Ngarewa-Packer: Thank you. How will proposed cuts to Māori and Pacific health and immunisation providers, many of whom serve high needs and hard to reach whānau, achieve his target to increase immunisation rates for children to 95 percent at 24 months?

Hon SIMEON BROWN: Well, this Government is very much focused on delivering on the basis of need. We continue to invest in providers who serve a variety of communities to ensure that we are reaching out into Māori and Pacific communities so that we can meet those targets. But as I said in the previous answer, we are focusing healthcare delivery on the basis of need so that all New Zealanders can access timely and quality healthcare.

Rt Hon Winston Peters: Can I ask the Minister as to why on earth he hasn’t consulted with Ayesha Verrall, who’s an absolute expert on medical waiting lists and endless delays?

SPEAKER: No. Is there another question?

Debbie Ngarewa-Packer: Yes. How does his decision to cancel bowel cancer screening for Māori and Pasifika from the age of 50 align with his target of faster cancer treatment for 90 percent of patients when these groups have the highest rates of bowel cancer in the country with 18 percent of cases diagnosed under the age of 50?

Hon SIMEON BROWN: Well, we’re focusing on, as I said, healthcare delivered on the basis of need. We are lowering the age for all New Zealanders to be able to access bowel cancer screening to the age of 58. We are also making targeted investments to target those communities—Māori, Pasifika, Asian communities—where they have lower bowel cancer screening rates, to lift those rates so that we can save as many lives as possible.

HY25: Solid result in challenging economic environment

Source: Indian Muneem Inaugurates Its New Office Branch In New Zealand

BNZ has reported a 4.8% decrease in underlying profit for the six months to 31 March 2025 to $1,075 million, reflecting a challenging economic environment and a highly competitive banking sector.

BNZ’s statutory net profit increased 4.3% on the prior year to $795 million.

BNZ CEO Dan Huggins says, “overall, this is a solid result in the current economic environment. It supports our view that despite the current uncertainty driven by global trade and tariff tensions, New Zealand’s economic fundamentals have improved.

“Looking beyond the current global volatility, we have confidence in the New Zealand economy and have delivered an impairment write back to reflect this.”

“BNZ remains focused on supporting New Zealanders and New Zealand businesses,” says Mr Huggins.

“This focus has seen more than 50,000 New Zealanders switch to BNZ in the first half of the financial year, as we continue to invest in more frontline bankers to improve customer service levels, reduce wait times, and open all our branches five days a week.

“It is also reflected in customer satisfaction, with BNZ moving into #1 position for our Consumer Net Promoter Score* (NPS).”

BNZ’s total lending increased $4.3 billion or 4.1% – with home lending up 5.6% and business lending up 2.0%.

BNZ also reported a significant increase in deposits up $5.4 billion or 6.8%. Term deposits continued to be the most popular choice, while BNZ’s Rapid Save – a market leading everyday high-interest rate savings account**- grew by $1.7b or 13.7%.

Supporting growth

“The economy appears to be at a turning point, and while uncertainty remains, BNZ is well positioned to support its customers,” says Mr Huggins.

“BNZ continues to make capital available for customers looking to invest in their business or buy their first or next home.”

“We’ve supported nearly 6,000 New Zealanders with their home ownership ambitions in the first six months of the financial year, with first home buyers accounting for almost one third of all new home loans.

“As New Zealand’s largest business bank, we understand that businesses will be at the forefront of our economic recovery. That’s why we are always looking for new and innovative ways to support our customers to invest and grow.”

BNZ backed Payap, New Zealand’s first digital wallet and point of sale app utilising open banking and compatible with all New Zealand banks, is one of those innovations.

More than 10,000 business customers have already signed up for Payap, which will leverage the power of open banking to reduce merchant fees by up to 80% on transactions going through Payap.

BNZ continues to lead the market in open banking, with over 300,000 customers and 26 fintechs using BNZ’s APIs.

Economic outlook

Mr Huggins says, “lower interest rates and strong conditions in the primary sector have helped support improvements in the New Zealand economy.

“However, trade tensions have created significant volatility and heightened uncertainty in global markets.

“We are watching these developments closely to gauge how this uncertainty impacts global growth and New Zealand’s economic recovery. However, we remain optimistic about the country’s long-term outlook and are committed to supporting New Zealand’s growth aspirations.”

ENDS

*Consumer NPS – Net Promoter Score. This measures the likelihood of a customer’s recommendation to others.

**BNZ Rapid Save winner of 2024 Canstar Outstanding Everyday Value Account.

 An unaudited summary of financial information for the six months ended 31 March 2025 follows:

  1. Statutory net profit has been prepared in accordance with Generally Accepted Accounting Practice in New Zealand (“NZ GAAP”). It complies with New Zealand equivalents to International Financial Reporting Standards (“NZ IFRS”) and other applicable Financial Reporting Standards.
  2. Cash earnings is a non-IFRS key financial performance measure used by BNZ for its internal management reporting as it better reflects what BNZ considers to be underlying performance. Cash earnings is not a statutory financial measure, is not presented in accordance with NZ GAAP and is not audited or reviewed in accordance with International Standards on Auditing (New Zealand).
  3. NAB NZ Banking Reporting Segment consists of Partnership Banking, servicing retail, business and private customers; Corporate and Institutional Banking, servicing corporate and institutional customers, and the Markets operations in New Zealand. It also includes National Australia Bank’s investment in FirstCape and the impact of distributions to non-controlling interests.
  4. Unrealised fair value gains or losses on economic hedges that do not qualify for hedge accounting and hedge ineffectiveness causes volatility in statutory profit, which is excluded from cash earnings as it is income neutral over the full term of transactions. This arises from fair value movements relating to trading derivatives for risk management purposes; fair value movements relating to assets; liabilities and derivatives designated in hedge relationships; and fair value movements relating to asset and liabilities designated at fair value.
  5. Spot volumes (unless otherwise stated).

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