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  • More jet fuel to be stored near Auckland Airport

    Source: NZ Music Month takes to the streets

    Cabinet has approved regulations that will give fuel companies until 1 November 2026 to increase the jet fuel they hold at or near Auckland Airport to protect New Zealand against unexpected fuel supply disruptions, Associate Energy Minister Shane Jones says.

    “As an island nation far from the rest of the world it is essential New Zealand has uninterrupted access to air travel,” Mr Jones says.

    “In 2019, an inquiry into the 2017 pipeline rupture recommended fuel companies invest in additional storage at or near the Airport ‘without delay’.

    “Since 2019, fuel companies have allowed jet fuel cover to fall below the inquiry’s recommended resilience target of 10 days’ cover at 80 per cent operations, leaving New Zealand susceptible to the impacts of an unexpected fuel supply disruption.

    “The regulations provide the extra impetus fuel companies need to avoid any further delay for investing in additional fuel storage.

    “The 2017 fuel disruption saw almost 300 flights impacted. As our largest and busiest airport, is it essential we have enough jet fuel storage in place near Auckland Airport to help prevent future impacts to air travel in case of unexpected disruptions,” Mr Jones says.

    “Fuel companies have told me they will invest in a new storage tank near Auckland Airport to meet the new requirement. Cabinet’s decision also updates existing rules to ensure fuel companies give government visibility on the amount of readily available jet fuel held near Auckland Airport.

    “Fuel security is a top priority for this Government. This new rule along with our work to develop a fuel security plan will help keep the New Zealand economy moving and connected to the world,” Mr Jones says.

  • Privacy Week 2025: Public concern about privacy remains high

    Source:

    The annual privacy survey of New Zealanders was released today during Privacy Week 2025. 

    Privacy Commissioner Michael Webster says public concern about privacy remains high, with particular unease around children’s privacy, social media use, and AI decision-making.  

    “More people are worried about the impact of technology on their privacy and are questioning what their personal information is being used for and why.”

    The impact of technology is reflected in people’s privacy concerns: 

    • 67% of respondents are concerned about the privacy of children, including when using social media
    • 63% are concerned about the management of personal information by social media companies
    • 62% are concerned about government agencies or businesses using AI in decision-making.

    “New Zealanders are great adopters of technology, but this survey suggests that we’re increasing becoming aware there’s also a price to pay through the loss of control over our personal information and we’re increasing worried about the implications of that.”

    Nearly half of respondents say they’ve become more concerned about issues of individual privacy and personal information over the past few years.  Two thirds of respondents now say protecting their personal information is a major concern in their lives.  And over 80% said they wanted more control and choice over the collection and use of their personal information.

    The level of concern also means many New Zealanders are willing to consider taking action if they think their right to privacy is not being protected and respected.  Two-thirds of respondents said they would consider changing service providers – such as businesses – due to poor privacy practices.

  • 2025 annual survey on privacy

    Source:

    Read the 2025 survey, ‘Research on Privacy Concerns and use of personal information’ (opens to PDF, 2.1MB).

    Privacy Commissioner Michael Webster says public concern about privacy remains high, with particular unease around children’s privacy, social media use, and AI decision-making.  

    “More people are worried about the impact of technology on their privacy and are questioning what their personal information is being used for and why.”

    The impact of technology is reflected in people’s privacy concerns:

    • 67% of respondents are concerned about the privacy of children, including when using social media
    • 63% are concerned about the management of personal information by social media companies
    • 62% are concerned about government agencies or businesses using AI in decision-making.

    “New Zealanders are great adopters of technology, but this survey suggests that we’re increasing becoming aware there’s also a price to pay through the loss of control over our personal information and we’re increasing worried about the implications of that.”

    Nearly half of respondents say they’ve become more concerned about issues of individual privacy and personal information over the past few years.  Two thirds of respondents now say protecting their personal information is a major concern in their lives.  And over 80% said they wanted more control and choice over the collection and use of their personal information.

    The level of concern also means many New Zealanders are willing to consider taking action if they think their right to privacy is not being protected and respected.  Two-thirds of respondents said they would consider changing service providers – such as businesses – due to poor privacy practices.

  • Trade Minister to meet US Trade Representative at APEC in Korea

    Source: NZ Music Month takes to the streets

    Trade and Investment Minister Todd McClay travels to Korea today for the annual Asia-Pacific Economic Cooperation (APEC) Trade Ministers meeting where he will meet with APEC and CPTPP trading partners including a first in person meeting with United Stated Trade Representative Jamieson Greer.

    “These meetings are an opportunity to advocate for New Zealand exporters, discuss our strong and mutually beneficial trade relationships, and restate New Zealand’s opposition to high tariff regimes,” Mr McClay says.

    While in Jeju, Minister McClay will meet with Ministers from: Australia, China, Chile, Indonesia, Japan, Korea, Peru, Singapore and the United States where he will talk about the need for certainty for consumers and exporters.  

    APEC’s 21 economies receive over 75 per cent of New Zealand’s exports and represent nearly 60 per cent of global GDP. 

    “Open and fair market access remains a priority for our Government as we look to double the value of exports in 10 years and grow the economy,” Mr McClay says. 

    “This meeting is an opportunity to deepen our connections with these major economic partners and support New Zealand exporters.”

  • Alternative Budget – Green’s Budget Gets Thumbs Up from Tax Reform Group

    Source: Better Taxes for a Better Future Campaign

    The Better Taxes for a Better Future Campaign welcomes the Green Party’s alternative budget released today, for recognising the need to grow revenue and ensuring that those who can afford it get to contribute more.

    “The Green Budget recognises that we face enormous challenges as a country and we need to fund government better in order to respond to them,” says Glenn Barclay, spokesperson for the Better Taxes Campaign.

    “They also promote a range of new taxes that will help ensure that we all contribute according to our ability to pay.”

    “When compared to other countries like Denmark, Germany, Austria and France we are a low tax country. At the same time we face growing inequality, an enormous infrastructure deficit, the challenges of climate change, health services that are in crisis and public services that are struggling to cope. The need to increase government revenue is urgent,” says Glenn Barclay.

    The Green’s proposals include a wealth tax, a more progressive income tax (including a tax free threshold), reversing interest deductibility for rental properties, and raising the tax on corporations.  The Green Budget stops short of introducing a full capital gains tax but restores the Bright Line Test for taxing the capital gains on housing to 10 years.

    “These changes are important steps towards a more progressive tax system. They would help address the sources of inequality in our tax system while raising more revenue,” says Glenn Barclay.

    “The lack of a full capital gains tax is interesting and we would like to better understand the rationale for this, but we do welcome the restoration of the Bright Line Test as a step in the right direction.”

    “In many ways we are outliers when you look at countries we like to compare ourselves to and most of these initiatives will just bring us into line with them”.

    “We would also encourage all parties to consider tax system reforms to ensure that multinational companies operating in New Zealand are not escaping paying tax and improve tax transparency for more effective and efficient revenue gathering.”

    The Better taxes for a Better Future Campaign was launched in June 2023 with the support of 21 partner organisations. It is seeking a tax system that:

    Is fully transparent.
    Ensures people who have more to contribute make that contribution: that we gather more revenue from wealth, gains from wealth, all forms of income, and corporates.
    Makes greater use of fair taxes to promote good health and environmental health.
    Addresses the tax impact on the least well-off in our society.
    Raises more revenue to enable us to address the social, economic and environmental challenges we face.

  • Economy – Examining Māori Access to Capital – Market Failures – Reserve Bank

    Source: Reserve Bank of New Zealand – Te Pūtea Matua

    14 May 2025 – The Reserve Bank of New Zealand – Te Pūtea Matua has published a Bulletin article which discusses the barriers Māori face in accessing capital that may be associated with market failures or imperfections.

    The Bulletin highlights barriers specific to Māori, including legislative constraints that make it challenging to use Māori land as loan collateral and low trust and awareness between Māori and banks. Māori are also more likely to live in rural areas and face market failures common to rural credit markets.

    The market failures that tend to be associated with these financing gaps are all forms of information failure or asymmetry.

    Assistant Governor Simone Robbers says that Māori face persistent barriers to accessing capital, many of which stem from market failures or imperfections.

    “These barriers contribute to ongoing financial exclusion which has broader economic consequences. It can weaken the financial system’s ability to allocate capital efficiently and limit the potential of the New Zealand economy, especially given the growing significance of the Māori economy,” says Ms Robbers.

    Various initiatives have been introduced to address information gaps and improve access to capital for Māori. These include better data collection, cultural training, and financial literacy programmes. Steps have also been taken to facilitate lending on Māori land and develop tailored bank products, though uptake remains low.

    Although the Māori economy has grown significantly and business financing gaps between Māori and non-Māori appear to be narrowing, further efforts are needed to completely close the gap and unlock the full potential of the Māori economy.

    Improved data collection, innovations in the financial system, AML/CFT reforms, and further legislative changes have been identified as ways that could ease barriers and support development in a way that recognises and promotes the cultural and economic significance of Māori.

    “Identifying where market failures exist is important for informing targeted and effective public policy interventions that support more inclusive and efficient financial outcomes,” says Chief Economist Paul Conway.

    This research builds on the Reserve Bank’s 2022 “Improving Māori Access to Capital” Issues Paper. It continues our commitment to exploring and addressing structural challenges in the financial system in line with our Financial Policy Remit and 2024 Letter of Expectations.
     

    More information

    Māori Access to Capital – Market Failures – Reserve Bank of New Zealand – Te Pūtea Matua: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=2d6397b9f4&e=f3c68946f8
     
    What are market failures or imperfections? A market failure refers to a situation where a competitive market fails to allocate resources efficiently.
     
    Improving Māori Access to Capital” Issues Paper: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=f910dda49c&e=f3c68946f8
     
    Improving access to capital for Māori: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=444f82d571&e=f3c68946f8

  • Banking Sector – The Co-operative Bank outranks the big 5 for customer satisfaction again

    Source: The Co-operative Bank

    The Co-operative Bank says it is delighted to win the Consumer People’s Choice Award for banking.
    The Co-operative Bank has taken out the top spot in Consumer’s 2025 banking satisfaction survey, earning a score of 77% of customers who are very satisfied, which is 20% higher than New Zealand’s biggest bank and 15% higher than the average score across all banks.
    The Co-operative Bank, which is fully owned by its customers, has been voted #1 by customers in the Consumer People’s Choice Award for nine out of the past 10 years.
    Chief Executive Mark Wilkshire says the win is a testament to the bank’s commitment to putting customers first.
    “It shows that bigger is not necessarily better. The Co-operative Bank punches well above our weight because we focus relentlessly on doing better for our customers, who also own the bank.”
    “As owners of the Co-operative, our customers can expect better from us than they can from other banks. They can expect better accountability, transparency and customer experiences,” Mark Wilkshire says.
    One of the ways the Co-operative is delivering better is through competitive rates. It today announced a drop to its floating home loan interest rate from 6.20% to 5.95% p.a., which would make it the lowest rate of this type currently being offered by any bank in NZ, as well as offering competitive 1 and 2 year fixed rates at 4.99% per annum.
    “The cut to our floating rate reflects the importance of offering customers more options.
    Customers can opt for floating rates while they decide when to fix or, for some customers, having some or all of their mortgage on floating gives them flexibility,” Mark Wilkshire said.
    “We remain committed to helping our customers to bank better every day and we are actively working on more improvements to our products and services that our customers have asked for.”
    As well as being voted first overall, The Co-operative Bank was rated #1 in four categories: its mobile app, digital banking features, interest on savings and personal loan interest rates.
    The floating rate change is effective for new loans from 15 May and existing loans from 29 May.
    About The Co-operative Bank:
    The Co-operative Bank is a customer-owned co-operative that operates in retail banking and associated personal financial services across Aotearoa New Zealand. Our approach to banking is about leaving everyone better off – our customers, our people, the Co-operative, and our communities. We are here to grow together and share the gains. All profits stay in New Zealand and since 2013 The Co-operative Bank has shared $24million with eligible customer shareholders as rebates.

  • New public research organisation boards dominated by men – PSA

    Source: PSA

    In a week when the government has been under fire for its rollback of pay equity, the announcement today of two of the three new Public Research Organisations (PRO) Boards has raised concerns for their lack of diversity.
    A PSA assessment of the announcement by the Minister for Science, Innovation and Technology, Hon Dr Shane Reti, shows that the boards of the New Zealand Institute of Earth Sciences and the New Zealand Institute of Bioeconomy Science are collectively over 70 per cent male.
    These two institutes are replacing the soon-to-be merged entities AgResearch, Scion, Manaaki Whenua, Plant and Food, NIWA, and GNS. The Boards of these CRIs collectively have a roughly 50-50 gender split, with 20 men and 22 women across the six Boards.
    “It’s pretty outrageous that in 2025 that we are still seeing Boards – any Board, but particularly publicly funded research Boards – be made up of a majority of men,” Public Service Association Te Pūkenga Here Tikanga Mahi national secretary, Fleur Fitzsimons, said.
    “There are more men called Paul on the Earth Science Institute Board than there are women.”
    Of the 11 people named on the two Boards today, all had previously served as Crown Research Institute (CRI) directors, bar one exception.
    “It really just looks like a shuffle of the existing CRI board members, but the women got the sack,” Fitzsimons said.
    According to the 2018 census, women make up 48 per cent of roles within STEM (science, technology, engineering and mathematics), but only 30 per cent are in leadership positions.
    “These appointments are a real throwback to when the sciences were completely and utterly dominated by men.
    “The gains that women have made in science over the past few decades are in no way reflected here. How can we possibly expect women to join STEM professions when our public institutions don’t represent them or their interests?
    “The National government continues to show us its true colours this week. The message to women is pretty clear – we’re not interested in what you have to say and you’re not invited to the table.”

  • Equal Pay Amendment Act

    Source: Ministry of Business Innovation and Employment MBIE (2)

    The Government is committed to maintaining a process to raise and resolve pay equity claims and these changes will ensure the process is workable and sustainable.

    The changes to the Equal Pay Act through the Equal Pay Amendment Act include a better process to raise and resolve claims of sex-based undervaluation in the pay of female-dominated work when a pay equity claim is made. 

    The process will ensure parties can more confidently assess whether there is sex-based undervaluation in the pay of female-dominated work.

    While these changes will mean all current pay equity claims will be discontinued, new claims can be raised under the amended Act if they meet the new requirements. Review clauses in existing settlements will become unenforceable.

    Read more about the changes on the MBIE website:

    Equal Pay Amendment Act

    Read the Minister’s announcement from earlier this month:

    Changes to improve pay equity process(external link)  — Beehive.govt.nz

  • Update: Nayland Road re-opens

    Source: New Zealand Police

    Nayland Road has reopened following an earlier incident.

    Cordons and lockdowns at nearby schools were lifted at around 3:20pm.

    There is not believed to be any threat to the public following this incident.

    A person has been spoken to, and no further Police action is required.

    ENDS

    Issued by Police Media Centre