Category: Radio New Zealand

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Suite of banking competition changes adopted by government

Source: Radio New Zealand

Minister of Commerce and Consumer Affairs Scott Simpson.

The government has accepted most of the recommendations out of a banking inquiry to improve competition in the sector.

A cross-party inquiry examining the state of banking competition made 19 suggestions in its report, released in August.

The government has accepted or partially accepted all the recommendations.

  • Standardise credit information and make it easier to compare loans. Response: Agree.
  • Open the door to more overseas banks and fintechs. Response: Agree.
  • Strengthen Kiwibank through investment. Response: Agree.
  • Review fees and profits on everyday accounts. Response: Agree.
  • Revisit Reserve Bank prudential settings. Response: Partially agree.
  • Evaluate capital settings. Response: Agree.
  • Broaden the “regulatory sandbox” trial. Response: Agree.
  • Cut Council of Financial Regulators overlap. Response: Agree.
  • Make climate lending rules clear and consistent. Response: Partially agree.
  • Push for real-time payments. Response: Agree.
  • Improve Payments New Zealand. Response: Agree.
  • Address limits on growth of non-bank deposit. Response: Agree.
  • Cease capital increases for banks. Response: Agree
  • Formal disclosure of factors. Response: Agree
  • Set voluntary Māori banking services standards. Response: Agree.
  • Remove anti-money-laundering (AML) roadblocks for Māori land trusts. Response: Agree
  • Enable Māori co-investment in infrastructure. Response: Agree.
  • Create Māori-focused lending products. Response: Agree.

Finance Minister Nicola Willis said the select committee’s findings echoed many of the findings of the Commerce Commission’s report on personal banking services last year.

“The inquiry’s findings highlighted concerns about the high levels of banking profitability and market concentration, barriers to entry for other players, and regulatory settings.

“The government has been progressing all the recommendations in the Commerce Commission’s report. They include giving Kiwibank’s parent company the go-ahead to raise additional capital and requiring the Reserve Bank to place greater emphasis on banking competition across a range of policies and actions.”

Minister of Commerce and Consumer Affairs Scott Simpson said he would be writing to banks encouraging them to standardise financial information and use digital technologies to help customers compare products and loan options across banks, and asking them to disclose profitability on transaction, on-call and savings accounts.

“I will also be writing to the Financial Markets Authority asking it to consider broadening its regulatory sandbox trail which allows firms to test innovative products and services in a controlled environment.

“Work is also underway on a single licensing model to cut red tape for innovative financial services.

“This government is committed to driving competition in the banking sector, encouraging innovation and delivering a better deal for consumers.”

“Monitoring and reporting on the committee’s recommendations will be coordinated by the Treasury.”

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Police Commissioner Richard Chambers pulled over for speeding at 112km/h

Source: Radio New Zealand

Police Commissioner Richard Chambers. RNZ / Samuel Rillstone

After a week of bad news for police, Police Commissioner Richard Chambers has admitted he was “away with the fairies” when he was pulled over for speeding last week.

Chambers was delivering a speech to graduating police recruits in Porirua on Thursday when he told the new officers and their supporters he had been ticketed for going over the speed limit.

He told the gathering of recruits, their supporters and police staff getting pulled over was the “dumbest thing I’ve done” as commissioner.

“It’s not something that I’m proud of. Course I wish I hadn’t done it. Oblivious, away with the fairies – none of that’s an excuse – I should know better. It’s the dumbest thing that I’ve done since I’ve been the commissioner of police.”

A damning report released this week by the Independent Police Conduct Authority found serious misconduct at the highest levels, including former Commissioner Andrew Coster, over how police responded to allegations of sexual misconduct by former Deputy Police Commisioner Jevon McSkimming.

Chambers encouraged the graduates to learn from their mistakes.

Disgraced former Deputy Police Commisioner Jevon McSkimming. RNZ / Mark Papalii

“I’m still the same person and I will still give my absolute best for my organisation and my country despite those little indiscretions like that.

“You’re no different to me, you’ll make mistakes – but own it, learn from it, be stronger for it and move on,” Chambers told the graduates.

Chambers would later tell RNZ he was clocked going 112 km/h as he returned from a ceremony marking the graduation of new patrol dog teams on 6 November.

“I feel terrible about the situation that I put my colleagues in. I apologised on the side of the road. Not my finest work, and I’m sorry.”

Chambers said he would not have made any attempt to get out of the infringement.

“I would never do that. I’m accountable and I’ve said that since the day I was made commissioner of police.”

A police spokesperson said Chambers paid the $80 fine – which had been dropped in his mail box – as soon as he arrived home from the graduation.

They said he was pulled over on State Highway 2 on the Western Hutt Road in a 100km/h zone.

The spokesperson corrected Chambers, and said he was actually recorded as travelling at 111km/h in an unmarked police vehicle and out of uniform.

Associate Police Minister Casey Costello also attended the event, but declined to speak to media.

Chambers was speaking at the graduation of 55 new officers of the No. 389 Recruit wing when he made the admission.

He told RNZ that in the light of revelations of a senior police cover up of allegations of sexual misconduct levelled at McSkimming, the new graduates should focus on good work they would do as police.

“Don’t let these things distract you from that work. That’s what New Zealanders want, that’s what they expect.

“We are dealing with a small group of former, very senior police officers. That’s a disgrace – as I’ve said – It lacks leadership, it lacks integrity.

“I want my new colleagues who have graduated today to focus on their careers, to focus on the work they do in communities. We’ve just got to keep going.”

Apology to charged whistleblower

Chambers said he hoped to meet with the woman who was prosecuted after raising concerns about McSkimming’s behaviour.

“I’ve reached out to her legal counsel and I expressed my apologies on behalf of New Zealand Police for the fact that she was not taken seriously early on when she reached out to police, more than once. I would like to apologise to her face-to-face when it’s appropriate to do so,” Chambers said.

Associate Police Minister Casey Costello declined to speak to media. RNZ / Samuel Rillstone

The woman is still facing charges relating to messages she sent to other police staff, despite charges over digital communications sent to McSkimming being dropped.

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Question Time directs rare query to non-ministerial MP

Source: Radio New Zealand

VNP/Louis Collins

The first task for MPs when the House meets at 2pm on a sitting day is an hour-long barrage of questions at the government in what is usually a lively exchange, but on Thursday’s Question Time had an extra question directed at an MP outside of the executive.

Up to 12 questions can be asked of ministers, and they must be lodged in the morning to give the minister some time to form a response. The purpose is for MPs to put ministers in the hot seat and compel them to defend their actions and policies in a public space.

Common template questions include asking ministers whether they “stand by all their statements and actions”, or “what reports/announcements they have seen or made”.

The first question is typically from the opposition in an attempt to conceal their line of questioning and test the minister’s ability to answer on the spot. The other type is usually from an MP in a government party, and gives a minister a chance to speak positively about their work – colloquially referred to as a “patsy” question because they’re easier to answer.

But Question Time isn’t limited to just quizzing ministers. Any MP can be asked a question as long as it is related to their responsibilities, and this week’s Question Time involved a question to a chairperson of a select committee.

Questions to a chairperson of a select committee must relate to a matter before the committee and a process or procedure for which the chairperson has responsibility.

Labour MP Rachel Brooking put forward a question to the chairperson of the Environment Committee, National MP Catherine Wedd, on the how much time the public would have to submit on the Fast-track Approvals Amendment Bill.

“Why did an advertisement go out in her name allowing only 11 days for submissions on the Fast-track Approvals Amendment Bill when there was no instruction from the House for a report deadline under six months?” Brooking asked.

Wedd said the shorter time was in line with the rules of Parliament (outlined in standing orders and the guidebook to how Parliament works, Parliamentary Practice in New Zealand) and the government’s timeline to pass the bill by the end of the year.

“As the chair of the Environment Committee, I agree, as does the majority of the committee; therefore, as per Standing Order 198, I set out a timetable to ensure this expectation is met,” she said.

Questions can also be asked of MPs but again must be related to their responsibilities as a member of Parliament. An unlimited number of questions can be logged to MPs, which once resulted in an attempt to delay progress in the House by logging 700 questions in one day (98 were accepted but only seven were answered, because the MP in question wasn’t there).

Questions are published at about 11:30am on sitting days and transcribed answers can be found on Parliament’s website.

To listen to The House‘s programme in full, click the link near the top of the page.

RNZ’s The House, with insights into Parliament, legislation and issues, is made with funding from Parliament’s Office of the Clerk.

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Xero boosts profit, predicts future growth

Source: Radio New Zealand

Accounting software company Xero has had a significant increase in profit on the back of increased users and revenue.

Key numbers for the six months ended September compared with a year ago:

  • Net profit $134.8m vs $95.1m
  • Revenue $1.19b vs $996m
  • Subscribers 4.59m vs 4.19m
  • No dividend

The Wellington-based but Australian-listed company reported increased earnings from individual subscribers, while it moved to build on its acquisition of US payments company Melio.

Chief executive Sukhinder Singh Cassidy said the company had looked to improve revenue generation despite a slowing in subscriber growth.

“Xero’s H1 FY26 results reinforce our ability to deliver as we continue to do what we said we would do, in line with our strategy.

“We have continued to deliver above ‘rule of 40’ outcomes and generate significant cash, underpinned by our disciplined allocation of capital.”

Sukhinder Singh Cassidy. Supplied/Xero

The “rule of 40” is an industry benchmark which combines revenue growth and its profit margin and should be at least 40 percent. It is regarded as an indication of a software-as-a-service company’s financial health.

Xero’s measure increased to 44.5 percent from 43.9 percent a year ago.

Singh Cassidy said the acquisition of US accounting platform Melio Payments would be a significant driver of future growth.

“The acquisition is a significant milestone, creating opportunities to accelerate growth and long-term value. “

She said Xero was also looking to its AI-powered JAX product, which she dubbed a financial superagent that would automate core accounting tasks while bringing efficiencies.

“We see generative AI technology as a significant opportunity to create more value for both our customers and internally at Xero.”

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Hastings hosts Aotearoa’s national Māori language festival Toitū te Reo

Source: Radio New Zealand

Thousands of te reo learners are gathering in Hastings for the second year Aotearoa’s national Māori language festival Toitū te Reo which is taking place on Thursday and Friday. RNZ / Pokere Paewai

Thousands of te reo learners are gathering the Hawke’s Bay for the second year Aotearoa’s national Māori language festival Toitū te Reo.

Described as a two-day “celebration, inspiration, education, and activation of the language and culture”, it is hosted in Heretaunga Hastings on Thursday and Friday.

The audience has the chance to hear from those still learning te reo, such as broadcasters Mike McRoberts and Moana Maniapoto while rubbing shoulders with long-time advocates such as Sir Timoti Karetu.

The festival is divided into two zones, Rangimamao which is entirely in te reo Māori and Pūmotomoto which is entirely in English.

RNZ / Pokere Paewai

Part of Hastings Street North is also cordoned of for kai stalls, Māori businesses and musical performances.

Festival founder and director Dr Jeremy Tātere MacLeod said it was pleasing to see people enjoying themselves and hearing the language being used.

Having two zones is to make this a welcoming space so people can participate regardless of the level of language, because even non-speakers play a huge part in championing the language, he said.

“The future of the language rests with everyone regardless of your level of proficiency and language champions come in all shapes and sizes and some of those people that championed the language back in the initial stages of the renaissance in the 70s weren’t speakers of the language but they were prepared to die for the language.”

MacLeod said one of the themes of Toitū te Reo was “te Tiro Whakaroto what can we do?”

“Toitū te Reo is about what we can do. And what we can do is look to ourselves, we can be resolute, we can be steadfast and we can put a stake in the ground and have an unwavering commitment to the language regardless of policy, rhetoric, social media, newspapers, because like anything the tide will ebb and flow.”

Leon Blake is leading one of the sessions at Toitū te Reo. RNZ / Pokere Paewai

Te reo advocate Leon Blake was leading a session on the evergreen topic of the A and O categories of te reo, two small letters that can be a big hoha for learners.

“E rongo ana e rere haere ana i waenganui i te iwi kua tae mai nei, no reira kua tino koa kua tino tau hoki te mauri.”

I’m hearing the language flow freely among all the people who have arrived today, so I’m feeling very happy and settled.

Part of Hastings Street North is also cordoned of for kai stalls, Māori businesses and musical performances. RNZ / Pokere Paewai

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Auckland FC owner Bill Foley sells stake in Scottish Premier League club

Source: Radio New Zealand

Texas billionaire Bill Foley who is bank rolling the new Auckland A League club. Andrew Cornaga/www.photosport.nz

Auckland FC owner Bill Foley has sold his interest in Scottish football club Hibernian.

The Scottish Premier League side has confirmed that majority shareholder Bydand Sports LLC has completed the acquisition of Black Knight Football Club’s shares.

Hibs chairperson Ian Gordon said in a statement: “Over the last few months, we have had detailed conversations with the Black Knight Football Club group regarding Hibernian FC.

“During those discussions it became clear there are philosophical differences in our visions for the club. We mutually agreed this decision was best for both organisations.”

Foley, who owns English Premier League side Bournemouth, bought a 25 percent stake in Hibernian in early 2024.

Many Hibs supporters had become concerned that Hibernian FC would become a feeder club for Bournemouth, which Foley bought in 2022.

The 80-year-old billionaire has not attended a Hibs game.

Foley is the chairperson and chief executive of Black Knight Sports and Entertainment group, which also owns the Las Vegas Golden Knights NHL club.

In 2023 the Australian Professional Leagues awarded a licence to Foley’s group with Auckland FC entering the A-League in 2024.

All Whites keeper Alex Paulsen was signed by Bournemouth from the Wellington Phoenix in June 2024 and then went out on loan to Auckland FC for the 2024-25 A-League season.

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Bill to expand Road User Charges introduced

Source: Radio New Zealand

The shift from a system of matching odometer readings to paper labels on the windscreen, towards using subscriptions through private companies. RNZ

A bill to make road tolling easier and shift Road User Charges (RUCs) towards a digital tracking system has been introduced to Parliament.

In a statement, Transport Minister Chris Bishop said the Land Transport (Revenue) Amendment Bill‘s changes to road tolling would enable drivers to be charged for driving on new, better roads where there was an alternative.

“Tolling helps us bring forward investment and build the roads New Zealand needs sooner,” he said.

“Corridor tolling… allows tolling on parts of an existing road where users receive clear, demonstrable benefits from a new project in the same corridor.

“The bill also introduces new tools to manage diversion from toll roads, including the ability to restrict heavy vehicles from using unsuitable alternative routes.”

Councils would be able to use the money to help maintain the alternative routes, and costs would be tagged to inflation.

The changes to RUCs shift from a system of matching odometer readings to paper labels on the windscreen, towards using subscriptions through private companies.

Bishop said the digital devices used to track distance travelled would future-proof the system “and separates New Zealand Transport Agency’s regulatory role from its retail role so third-party providers compete on a level playing field”.

“These changes are the first step towards replacing petrol tax with RUC for light petrol vehicles. We’ll assess the improved system in 2027 before deciding on next steps for transitioning the remaining 3.5 million vehicles.”

Chris Bishop. RNZ / Nick Monro

The minister’s statement also confirmed a procurement process via the government tendering service GETS would be undertaken later this month “to test options with potential market providers on the design of new third-party RUC payment services”.

The government last March expanded the distance-based RUC charging system from applying to diesel and heavy vehicles, to also include light electric vehicles.

EVs had been exempt from the scheme since 2009, but multiple governments had proposed bringing in the charges for EVs once they accounted for 2 percent of vehicles on the roads.

EV owners pay the same $76 per 1000km rate as diesel vehicle owners, while plug-in hybrid owners pay $38. The money raised goes towards the National Land Transport Fund.

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Infratil posts $2 billion first-half revenue

Source: Radio New Zealand

Infratil chief executive Jason Boyes. Supplied

Infrastructure investor Infratil has reported a strong first-half net profit, with revenue up more than a third to $2 billion.

It said underlying profit rose 7 percent, despite New Zealand’s economy remaining relatively subdued throughout the period ended in September.

Key numbers for the six months ended September compared with a year ago:

  • Net profit $631.5m* vs net loss $206.4m**
  • Revenue $1.993b vs $1.482b
  • Underlying profit $662.4m vs $68.8m
  • Total debt $2.62b vs $2.19b as at 31 March
  • Total asset value $19b versus $18.3b
  • Interim dividend 7.25 cents a share vs unchanged
  • *Reflected sale of Manawa Energy resulting net surplus of $606m
  • **Net loss reflected a number of one-time costs and a revaluation gain in the year earlier.

Infratil chief executive Jason Boyes said profit growth was largely driven by United States-based Longroad Energy, Australasia’s CDC data centre business, while capital expenses fell $52m to $1.14b on the year earlier.

“Digital and renewable energy thematics are stronger than ever, with CDC and Longroad building strong earnings momentum on the back of new waves of demand,” Boyes said.

“CDC has recently announced 140 megawatts of contracts and Longroad Energy reached financial close for 925MW of new projects.

“Gurīn Energy in Asia is another investment poised for growth and we’re always scanning for other attractive new growth sectors.”

He said the company was about 58 percent on its way to meeting its $1b divestment target, with sale agreements in place for RetireAustralia, Fortysouth and a legacy property asset. A strategic review of Qscan is also underway.

“Our focus is on simplifying our current portfolio and reinvesting in areas with strong thematic drivers, to position Infratil for continued growth and shareholder returns.”

New Zealand business performance

Despite the weak New Zealand economy, Boyes said Infratil’s New Zealand businesses had been largely resilient.

Wellington Airport reported 4 percent growth in underlying profit with international passengers numbers up 7 percent, while domestic passenger numbers fell 5 percent.

Telecommunications company One NZ, which accounted for about 58 percent of underlying profit, saw revenue rise by $14 million on the year earlier.

“Revenues have lifted through a mix of pricing and service initiatives, including the One Wallet loyalty programme and SpaceX text services – with more than 6 million texts now sent via the exclusive satellite service.”

The RHCNZ Medical Imaging business saw a pick-up in scans, though underlying profit fell on lower margins and cost inflation. However, Boyes said the outlook was more positive for the second half.

“This includes creating a standalone teleradiology service provider that will include staff and assets from Infratil’s Australian diagnostic imaging investment, Qscan, ” he said, adding its Qscan’s underlying profit rose 11 percent, with a positive mix of imaging demand and pricing changes.

Boyes said the company was poised for long-term growth, with its increased investment in Contact Energy expected to generate financial flexibility for the firm.

Underlying profit guidance for the full year ending in March was between $1b and $1.05b on a like-for-like basis, or between $960m to $1b following the sale of RetireAustralia and Fortysouth.

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Some schools defy government move on Te Tiriti o Waitangi

Source: Radio New Zealand

RNZ / Tom Furley

Some schools are defying the government’s removal of their Treaty of Waitangi obligations.

Their boards have published public statements affirming their commitment to the treaty.

It followed the government’s surprise decision last week to remove a legal requirement to give effect to the treaty by means including teaching te reo Māori – a change that was passed by Parliament this week.

The schools come from around the country and some made statements directed at Education Minister Erica Stanford.

Dyer Street School in Hutt Valley said upholding the treaty was the right thing to do for its students.

“We wish to make it clear that this decision is not a political statement, rather, it is a decision ground in our sense of educational and civic responsibility,” it said.

Queen’s High School in Dunedin said its connections with manawhenua were foundational to the school and honouring the treaty was a moral imperative.

“Therefore we want to be absolutely clear, the Queen’s High School board is unwavering in its commitment to ensuring that Te Tiriti o Waitangi continues to inform our governance and decision-making. We will continue to honour the principles of Tiriti o Waitangi in all that we do,” it said.

“Our commitment is not a compliance exercise, it is a moral imperative that enriches the education we offer and ensures all students, especially Māori students, see themselves and their culture valued and reflected in the school environment.”

Putāruru Primary School’s board said it would continue to give full effect to the treaty.

“While government policy may shift, our strategic direction will not. We will not be swayed by divisive politics,” it said.

“Strong communities are built through partnership – not by rolling back commitments to Te Tiriti o Waitangi.”

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Record number of New Zealanders leave country, visits from Australia surge

Source: Radio New Zealand

RNZ

New figures show Australian visitor arrivals surged over the past year – while migration data shows a record number of New Zealanders leaving.

Stats NZ said visitor arrivals from across the Tasman reached 1.48 million in the year ended September, up from 1.33m the year before.

Stats NZ said it was the second-highest number of Australian visitor arrivals after 2019, pre-pandemic.

“The increase in visitor numbers from Australia in the September 2025 year coincided with an increase in flights between Australia and New Zealand, and a Tourism New Zealand marketing campaign from early 2025 targeting the Australian market,” Stats NZ international travel statistics spokesperson Bryan Downes said.

Overall visitor arrivals were 3.43m for the year, an increase of 197,000 from the prior year.

Aside from Australia, the biggest increases were from the United States, the United Kingdom and Japan.

Record number of NZers leave the country, again

Stats NZ also released migration data, showing annual net migration gains were 12,400 in the year ended September, compared to a net gain of 42,400 in the same period last year.

For New Zealand citizens, the net migration loss was 46,400 in the September 2025 year, driven by a record departure of 72,700 New Zealanders – primarily to Australia.

Stats NZ said 26,300 New Zealand citizens arrived in the period.

Net migration gains for non-New Zealand citizens were 58,800, reflecting 112,600 arrivals and 53,800 departures.

For migrant arrivals the biggest groups were New Zealand citizens, followed by China, India and the Philippines.

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