BNZ cuts fixed and variable home loan rates ahead of OCR announcement

Source: BNZ Statements

BNZ is pleased to announce cuts to its fixed home loan rates across every term as well as its variable home loan rate in anticipation of tomorrow’s expected OCR cut.  

BNZ General Manager Home Lending James Leydon says tomorrow’s OCR cut is widely expected, which has given us the confidence to pass on these savings to customers ahead of the Reserve Bank’s announcement.  

“We know many of our customers are looking beyond the very short-term fixed rates as the interest rate environment evolves. By cutting our fixed rates across all terms, we’re giving customers more choice and the ability to lock in a competitive rate for a longer period,” he says. 

 “Lower interest rates should also help relieve some pressure on household budgets by making borrowing more affordable.    

 “We are starting to see the impact of lower interest rates with increasing activity in the housing market. The number of customers applying for home loans with BNZ in the six months to April 2025 has increased 20% compared to the same time last year.  

 “Our home loan team is working hard to process the increasing number of applications within normal timeframes, with priority given to customers with the earliest settlement dates.  

 “For customers that come to BNZ direct, our in-house Home Loan Partners continue to offer fast, personalised service, providing decisions within 24 hours for eligible applications once all required information is received and lending checks are complete. 

 “We also understand that for those moments that really matter, like buying a home, many customers want the opportunity to talk to our bankers face-to-face. That’s why all our branches are now open five days a week – to be there when and where our customers need us,” Leydon says.  

Further details below:  

 Fixed home loan rates
Effective Tuesday 27 May  

Variable home loan rates
Effective Wednesday 4 June

BNZ lending criteria (including minimum equity requirements), and terms apply. Rates subject to change. Up to $150 establishment fee and early repayment charges may apply. BNZ standard variable rate includes Private Bank Line of Credit – Secured.

The post BNZ cuts fixed and variable home loan rates ahead of OCR announcement appeared first on BNZ Debrief.

Speech: Barbara Edmonds Post-Budget

Source: New Zealand Labour Party

Oute fa’atalofa atu ma le fa’aaloalo

Malo le soifua maua ma le lagi e māmā

Thank you for the warm welcome this morning, it’s always good to be back home in Mana.

I want to acknowledge and thank the Porirua Chamber of Commerce for hosting us today.

Thank you, Steven Dyhrberg and everyone on the Porirua Chamber of Commerce Board for the great work you do.

Thank you to the Supply Room – you’ve always been supportive of the Chamber, and our wider community, and I also enjoy having MP clinics here where people can access me more easily.

And thank you to all of you for being here. Anita Baker, our Mayor, our local leaders, employers, and members of the community. You are here because you care about our community and the future of our country.

A lot has happened in Parliament over the last few weeks that has a profound impact on our families, our communities, and our country.

I’m here to today to break down the choices that this Government has made, and give you a preview of the different choices that a Labour Government would have made.

Today, I’m going to talk about three simple, but important ideas:

First – and make no mistake about it – this will be remembered as the Budget that cut women’s pay.

Not just any women. The hardworking women who help deliver our babies. The women who educate our young children. The women who care for us during the final days of our lives.

So, I’ll start there.

Then I want to talk about some of the other choices that this Government made in their Budget, and what it means for our communities. Because every decision a government makes isn’t just a number on a page or in a spreadsheet, it’s about people.

Lastly, I want to talk about what you didn’t see in National’s Budget. The choices that Labour would have made instead.

So let’s get into it.

Cutting women’s pay to make the Budget add up was a deliberate decision by Nicola Willis, no matter how many times she tells you it’s not.

The Government changed the law under urgency, wiping 33 active pay equity claims off the books, and hoped they’d get away with it.

David Seymour – the next Deputy Prime Minister – gave away the game when he told us that ACT had just saved the Budget.

For weeks, they refused to tell us the full extent of the damage, but last week we finally saw the figures – and it was shocking.

In one move, they swept billions off the books, money that was set aside for future pay rises for low-paid women.

They moved the goal post for any futures claims, leaving about 180,000 people – predominantly women – in service industries like Plunket nurses, teacher aides, and hospice care workers to start again.

They’ll try to tell you that no one’s pay has been cut. They’ll say that women can still make claims.

But when you take money that has been put aside for future pay raises and put it into something else, that is a cut, plain and simple.

The reaction from the public has been swift because they understand what the Government is really doing here. They’re telling hard working women that you don’t matter.

They’re telling women, “you’re not worth it.” They’re telling women that your contribution to the economy is less than a man’s is.

I think one of the reasons this is resonating so strongly is because for many Kiwis, the promises they were sold at the last election have turned to dust. The question almost every Kiwi should ask themselves is this: do I feel better off today than I did 18 months ago.

On almost every economic indicator, the National Government has made things worse. They will blame everyone else for it – or take credit for the work of the Reserve Bank – but the facts don’t lie.

While people all over New Zealand struggle to pay the bills, National is giving massive handouts to landlords and tobacco companies.

Kiwis were told the economy would be stronger. But it’s slower.

Kiwis were told the cost of living would come down. But prices are going up.

Kiwis were told that families with kids would get an extra $250 a fortnight to help with the cost of living, yet that most of that money is nowhere to be seen.

When I said last year that these families in their Budget documents were ghost families, the government clearly didn’t count on their own officials agreeing with me.

National cannot confirm if even a single family has received the full $250 they were promised.

Kiwis were told a new government would get things moving, and yet building projects have ground to a halt and 13,000 people working in construction lost their jobs.

This is a particularly important point for us here in Mana, where the construction industry is our second largest employer. Here in Porirua, up to December 2024 we saw a 70.6% decline in non-residential building consents, annual unemployment increased to 5.4%, and the number of people claiming Job Seeker benefits up by 16%.

Our local economy has declined by 2.2% over the year to March 2025, compared to a 1.1% decline nationally.

The sort of short-sighted decision making by the government that has also led to cuts in programmes and the loss of 60 jobs at our own Whitireia and Weltec, will have long-term impacts for the construction sector, which we will have to work hard to get back up to capacity.

Now they’ve broken their promise of a better future for working women.

Something this Government has failed to take in to account is what happens when you give low paid workers a pay rise, they spend it back in the economy, at our local shops, at our retailers.

The decision to cut women’s pay is not just bad for our economy, it’s a direct assault on our values as New Zealanders.

We’re the first country in the world to give women the right to vote. Fighting for equality is in our national DNA. Turning our backs on equal pay is not who we are as Kiwis.

So, while there are other parts of this Budget that I’ll get into next, we must not forget that all of it comes at the expense of women.

Every Budget is a choice.

These choices are meant to reflect the underlying values of the government of the day.

The reason we have a Budget is to allocate resources where they are needed, so we can build the kind of communities and society that are good for all people to live in.

The Budget is one of the best chances the government has to make clear to the people why it is in power and what it wants to do.

It’s not just women’s pay National went after.

They are also stealing from our kids’ futures by slashing the Government KiwiSaver contribution.

An 18-year-old New Zealander, as of this year’s Budget, is now going to be $66,000 worse off in their retirement due to this cut.

On cost-of-living support, the best many families will get is $7 a week. Not even enough to cover a block of butter

Even before this Budget, the Government was failing to live up to its promises. Remember that ghost $250 a fortnight for families I mentioned earlier!

Many Kiwis voted for this Government thinking they’d benefit from FamilyBoost, but fewer than half of their target has received the full payments. About a quarter of the scheme has been eaten up by administration costs, rather than going to families to help with childcare.

Even Nicola Willis admits it’s overly-complicated. She’s botched the numbers and the finances on her flagship cost of living programme. It’s quite simply a broken promise.

National are also taking money away from whānau with a new baby at home by cutting back Best Start.

$73 might not mean much to this Government, but for many families it’s the difference between a box of nappies and a tin of formula.

The Budget also made changes to Working for Families, making over 60,000 families about $43 a fortnight worse off.

It ended emergency housing contracts, meaning more Kiwis will be sleeping rough. The opening of the E Kai Soup Kitchen yesterday afternoon here in Porirua is yet another example of our local communities doing what they need to do to look after our most vulnerable when the Government won’t.  

They say, “there’s no alternative,” but that’s not true.

There is always a choice. And they are choosing wrong.

Instead of helping families with the cost of living they have wiped away about half a billion in taxes from multinational tech giants, like Facebook and Google.

Instead of creating jobs that pay well and help build a future here in New Zealand, they are pushing thousands of people out of work and driving up costs.

Instead of making sure everyone can get care they need, when they need it, National’s barely funding the health system enough to keep the lights on.

Instead of investing in a future where everyone has a safe, warm, affordable home near schools, work, and healthcare, they are gutting essential housing programmes

Instead of bringing down power bills by investing in renewable energy, they’ve chosen to give hundreds of millions of dollars to gas companies.

Now, I’ve heard some say that love it or hate it, at least it’s getting us to surplus a few years from now. But that’s only true because National moved the goalposts by making up their own measure.

Besides, what good is getting to surplus when people are finding it harder and harder to pay the bills? When our construction sector has been decimated and Kiwis are fleeing for better prospects overseas?

They call this the “Growth Budget,” but what growth are we talking about? If you’re measuring growing unemployment, growing homelessness, growing food prices, a growing gap between rich and poor, and the growing pay gap between men and women… If those are your metrics, then yes, this is a Growth Budget.

All Budgets are about choices, and we would have made different choices.

Labour’s focus will be on what matters most to people.

Well paid jobs, safe and affordable homes, quality healthcare, and the peace of mind that comes from knowing you can pay the bills, care for your family, and plan for the future.

We will choose to create good jobs, not cut them. That means supporting local industry and small businesses. That means backing training, apprenticeships, and skills for the future. And that means investing in infrastructure to get people into work and get the country moving.

We will choose to properly fund our public health system. Not just to keep the lights on, but enough to make sure people can see a doctor when they need one. That our health system is properly staffed, not frozen on the frontline.

We will choose to build homes, not cut housing support. Warm, affordable homes in communities where people can thrive and send their kids to a good public school down the street.

These are the foundations of an economy with people at its heart, and with an investment in our future.

Every year, Budgets are talked about at length in the media, in our workplaces, around the dinner table and amongst friends.  

In every case, they should be judged on the difference they will make to people’s lives

This will forever be remembered as the Budget that cut women’s pay. This is the Budget that said women don’t matter, that families can wait, that the future can be sold off. This is a Budget that tells New Zealanders you’re better off going to Australia.

Labour rejects their choices. We say that women deserve fair pay. We say that families doing it tough deserve support. We say, the next generation deserves hope.

We say, it’s time to invest in jobs, health, and homes.

That’s how we’ll build a better future, and we’ll do it by making different choices.

Fa’afetai lava mo le avanoa, thank you.

Release: David Seymour’s Bill harms our people and environment

Source: New Zealand Labour Party

David Seymour’s Regulatory Standards Bill would take New Zealand backwards by making it harder to protect our people and the environment.

“This Bill favours corporate interests ahead of our communities, environmental protections, and Te Tiriti o Waitangi,” Labour regulation spokesperson Duncan Webb said.

“Just like the Treaty Principles Bill, it’s another concession by Christopher Luxon to David Seymour – soon to be Deputy Prime Minister – that’s out of touch with what Kiwis want and just takes New Zealand backwards.

“Laws that keep people healthy and safe, like requiring landlords to heat homes, would be at the whims of whether David Seymour thinks they’re a good idea or not. It would make it harder to keep our air and rivers clean and reduce climate emissions.

“It’s ironic that the man who thinks that women’s pay is wasteful spending also thinks that we should be spending $18 million a year administering his new scheme for evaluating regulations.

“But it’s no surprise, given that the whole show would be overseen by a board appointed by, and answerable to, David Seymour, giving him sign-off power over every minister and department.

“This Bill is a dangerous power grab that is not in the interests of the majority of New Zealanders,” Duncan Webb said.


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Release: More cuts to come for health

Source: New Zealand Labour Party

National has made a choice to cut women’s pay and rob future generations of Kiwisaver contributions to make its Budget add up, but without enough funding for our health system.

“Our hospitals and wider health system only got enough in this year’s Budget to keep the lights flickering,” Labour health spokesperson Ayesha Verrall said.

“Health New Zealand, which runs our hospitals and other healthcare services, was already $1.1 billion in the red. Funds needed to assist services to deal with a growing population and inflation are instead servicing the deficit.

“This means New Zealanders won’t get the services they are used to, and will pay more and wait longer.

“National has chosen to subsidise tech giants, landlords, the fossil fuel industry, and tobacco companies, rather than make better choices to invest in our health system and pay women what they’re worth.     

“We know the cuts National has made are affecting frontline services. Day after day we hear stories about waitlists, crumbling hospitals and health staff burnout. National had an opportunity to put it right yesterday but has failed.

“Yesterdays’ Budget also confirmed what we had suspected for a while – that the Nelson Hospital rebuild will have less than half the number of new beds than the rebuild Labour proposed while in Government.

“The $1 billion for capital projects is less than the Government needs to spend to ensure our hospitals are fit for purpose for a future growing and ageing population,” Ayesha Verrall said.


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Palmerston North death

Source: New Zealand Police

To be attributed to Inspector Ross Grantham, Manawatū Area Commander:

A 19-year-old man has died after being critically injured playing a tackle game with friends in Palmerston North on Sunday afternoon.

The man suffered a serious head injury when tackled, and was taken to hospital by his friends. Tragically, he passed away in hospital on Monday night.

This young man’s death is an absolute tragedy and my thoughts are with his family and friends.

The tackle game played by the group of friends was based on a social media-driven trend, where participants compete in full-contact collisions without protective gear.

While this was an impromptu game among friends, not a planned event, this tragic outcome does highlight the inherent safety concerns with such an activity.

We would urge anyone thinking about taking part in a game or event like this to consider the significant safety and injury risks.   

While this is not a criminal matter, Police will continue to undertake enquiries on behalf of the Coroner.

ENDS

Issued by Police Media Centre. 

Police statement on retail crime

Source: New Zealand Police

Police Commissioner Richard Chambers is reassuring the retail community and the public that retail crime is one of his top priorities, saying a recent memo was confusing and unhelpful.

Commissioner Chambers said the wrong message had been sent to the retail community and the public about the Police approach as a result of confusion about the memo which referred to thresholds for retail crime.

“I have made retail crime one of the priorities for the Police executive and that means increasing the focus on it. The memo has been confusing and unhelpful and does not meet my expectations on retail crime or the expectations of the retail community.”

“I have asked for a reminder to be issued to all District Commanders that they should continue to catch offenders wherever possible, regardless of the memo’s thresholds.

“It is my expectation Police continue to work hard to catch offenders wherever possible. Our role is to enforce the law. If we were to take our focus off that, we are giving license to offenders to commit crime. That will not happen.”

“That is important for Police, for the retail community and for trust and confidence with the wider public.

“Retail crime is increasing and we are working closely with the retail community to address it. I want them to have confidence that we will continue to do so.”

He said there were examples of successful approaches to retail crime, such as in Tauranga and Gisborne where a combination of dedicated teams, highly visible beat police and close work with the retail community had paid dividends.

Executive Director Service, Victims and Resolutions, Rachael Bambery, said District Commanders were being reminded today that districts continued to have discretion to investigate crimes, taking into account the context and available resources.

“Early case closure is not final as new information and patterns often allow Police to revisit cases, for example where a small number of offenders can be linked to multiple offences.”
 

ENDS

Issued by Police Media Centre.

Paws for thought before heading into national parks

Source: NZ Department of Conservation

Date:  27 May 2025

Dogs (or other pets) are not allowed in Tongariro National Park, not even inside cars, to protect its fragile ecosystems and cultural heritage for which it has Dual World Heritage status.

Large new signs have been placed at three main entrances to the park to ensure all visitors know the rules.

Community Ranger Clodagh Costello says the team and their pooches had a bit of fun showing off the new ‘no dog’ signs just outside the Ohakune entrance to the national park.

“Our dogs were a little excited, I’m not sure they got the message to be honest. But it’s us owners who need to take responsibility,” says Clodagh.

“In Aotearoa, our environment is part of our identity, and dogs are part of how we connect with nature – but there’s a right time and place, and a national park isn’t one of them.”

Any dog can make a mistake and attack wildlife like the iconic brown kiwi present in Tongariro National Park. Even a dog standing around doing nothing can change the behaviour of wildlife.

Clodagh says there are many places to legally take dogs into nature, and the DOC website is a good place to check for options on Public Conservation Land.

“It’s important we have some places where wildlife can just be wild, without the influence of our pets.”

Disturbing or harming absolutely protected wildlife, including brown kiwi and whio, is an offence under the Wildlife Act 1953. Those in control of a dog which disturbs, or harms wildlife could be liable for an infringement fine of up to $800.

“With these signs we’re sending a clear message. Pleading ignorance is not an option for dog owners,” says Clodagh.

DOC’s Whakapapa and Ohakune offices sit within the boundaries of Tongariro National Park, so staff won’t be getting a ‘bring your dog to work’ day any time soon.

Background information

No dogs are not allowed in Tongariro National Park including Whakapapa Village, Whakapapa Ski Area, Tūroa Ski Area or inside vehicles anywhere in the park.

The national park boundary starts at the intersection of SH 47 and SH 48. No dogs are allowed anywhere past this point.

Contact

For media enquiries contact:

Email: media@doc.govt.nz

Local News – Love Local returns to Porirua on 7 June

Source: Porirua City Council

Porirua’s biggest annual event – Love Local – returns on 7 June to showcase Porirua’s new and established businesses and more!
Filling Te Rauparaha Arena for the sixth year running, Love Local is a free event where attendees can meet the hundreds of different local businesses in Porirua and learn about what they have to offer.
This event has grown each year and is now a key date in the calendar for both vendors and savvy shoppers wanting to support the Porirua economy. You can check out who will be there on our website.
“Love Local is a true representation of the diversity of businesses we have operating in Porirua,” says Porirua Mayor Anita Baker.
With more than 120 stalls, there will be something for everyone. Love food? Head on down for delicious breads, yummy cupcakes, crafted beers, and specialty foods with flavours from the Pacific to the Mediterranean.
If you’re there to pick up some fantastic items, then there will be a lot to choose from – with local fashion, gorgeous jewellery, custom homewares and much more.
Many of our local volunteer groups and service providers will also be there on the day. Learn about the fantastic work happening around Porirua and how you can get involved. You can also check out services, including local chiropractors and audio visual and event companies.
As part of Porirua City’s efforts to minimise waste at large events, for the first time this year the FillGood reusable serviceware system will be onsite on the day. FillGood works closely with long-time event partner Nonstop Solutions.
Food trucks and vendors will serve their products in reusable cups and trays, helping reduce the use of single-use packaging. Attendees who purchase food or drink in one of these cups or trays just need to look out for the pink bins to return the reusables once they’re finished with them. The FillGood team will clean and sanitise them for reuse.
Love Local Expo, free entry, Saturday 7 June, 10am-4pm, Te Rauparaha Arena.

Privacy Commissioner – New photography and filming guidance to help protect children and young people

Source: Office of the Privacy Commissioner

Guidance to help organisations protect and respect children and young people’s privacy has just been released.
“We all have a role in protecting children and their personal information. This guidance on photography and filming will help to empower them, and their parents and caregivers to understand and exercise their privacy rights effectively, Privacy Commissioner Michael Webster says.
“Taking and sharing images of children and young people helps record their achievements and special moments. But it’s also important people are aware of the risks associated with the collection, use and sharing of these images and do what’s necessary to protect their privacy and keep them safe from harm.”
While the Privacy Act applies to everyone, it requires people to take extra care when collecting personal information about children and young people. The Privacy Act also covers the use and sharing of images.
“As a rule, it’s good to ask, why am I collecting this image and is it necessary? How am I using and sharing these images and with who? Retention and deletion are also important as children change as they age; they also move schools and then finish their education.
“An image that was once cute and funny could be distressing or cause embarrassment if used or shared today. Consent is best practice; children, young people or their parents should always know that photography or videoing recording is happening and why, and they should also have the right to withdraw their consent at any time.
“If you’re taking an image of a child or young person, think about what the image will show about them. Images can reveal a lot more information than you might realise such as their school, approximate age, gender or sexual orientation, where they may live and other people they associate with.”
OPC has also developed other guidance to help those working in the children’s sector, including how to apply best practice privacy when responding to requests for a child or young person’s personal information, and how to help children, young people and their parents protect their privacy while exploring the online world.
“Children and young people’s privacy is a priority area for my office. It’s also an important area with the public, with our recent privacy survey recording the highest level of concern (67%) for children’s privacy.
“Understanding how to protect and respect a child or young person’s personal information and implementing good privacy practices will ensure all children have positive privacy experiences throughout their journey to adulthood”, Mr Webster says.
Further guidance, including detailed privacy guidance for the education sector, will be released later in the year.