The SME Stream

Mood of the boardroom survey, more than 100 of our top business leaders have had their say on the government, its ministers and the economy today. CEOs ranked the performance of the Cabinet Ministers with ‘1’ being not impressive and ‘5’ - very impressive. Prime Minister Christopher Luxon scored with 3.73 whilst keeping his cabinet focused on delivery and education, Minister Erica Stanford was top...

So Luxon is back in the news. Bryce Edwards written a piece saying our members of parliament own 2.3 homes per MP - more than most of us.  Jacinda made $330,000 on her property while Prime Minister. Luxon has made close to half a million dollars on his properties.  Now let's really talk about a capital gains tax, because we essentially have one on investment property - the bright line test.  You c...

The head of insurance giant Suncorp explains why it’s hiked premiums on all of its policies. The podcasts in the SME Stream contain general information only, not financial or professional advice. Any opinions expressed in the podcasts are not necessarily shared by BNZ, or its related entities. BNZ is not liable for any losses resulting from the content of the podcasts. See omnystudio.com/listener...

Auckland mayor Wayne Brown aims to disestablish the city's tourism and economic development agency. The mayor is progressing plans to fold Tātaki Auckland Unlimited back into council control and reduce its functions. He says the agency spent more than $700,000 on a campaign promoting Auckland to Aucklanders. He says these things need to stop happening with ratepayer money. Hospitality New Zealand...

The wine industry is hoping a new programme will help double production.  The Government is investing $5.6 million over seven years into the programme, Next Generation Viticulture. It aims to grow vines more efficiently, turning sunlight into grapes. NZ Winegrowers Research Centre CEO Dr Juliet Ansell says it will redesign canopy management. "It enables the vines to capture as much sunlight as the...

Over in China, regulators recently announced a range of monetary and fiscal stimulus policy changes aimed at fostering economic stabilisation and improving consumer confidence. Official interest rates were cut and the Government announced a number of central bank spending programmes aimed at stabilising housing and supporting consumption. Harbour Asset Management's Shane Solly unpacked these new p...

Synlait Milk has reported a net loss of $182.1 million and stumped up with a one-off payment to try to keep supplying South Island farmers.  The embattled dairy processor reported its full-year results to July 31 on Monday with revenue up 2 percent to $1.64 billion.  It took a total non-cash impairment of $114.6 million during the year against its long-term assets.  CEO Grant Watson says the 2024...

Provincial New Zealand is hurting.   Alliance Group last week confirmed plans to close its Timaru meat processing plant in Smithfield, with the loss of hundreds of jobs.  It comes after earlier this month that Winstone Pulp International said will close two mills near O-hakune, which will see 230 people lose their jobs.   To discuss the impact facing small towns in New Zealand, and if there’s a wa...

The conversation of a potential capital gains tax is heating up as ANZ Chief Executive Antonia Watson says it's becoming necessary.  But the biggest question is what the tax would include, and how it would be enforced.  Opes Partners Resident Economist Ed McKnight joins Tim Beveridge on The Weekend Collective to discuss this and more.  LISTEN ABOVE The podcasts in the SME Stream contain general in...

Big changes to consenting processes could be on the way. Currently, 67 building consent authorities receive and approve consents – with each one taking a slightly different approach to the rules. Building and construction minister Chris Penk has proposed creating larger regional authorities to help standardise the process and reduce costs for builders. New Zealand Certified Builders Chief Executiv...

The Government announces a significant shake up to building and construction with reform of the building consent system.  They have proposed a number of potential changes; including establishing consenting authorities to replace the 67 BCAs New Zealand currently has, allowing councils to team up on building consents, and creating a single point of contact for building plans.  Minister for Building...

Working from Home has been a topic of debate this week with the Government’s new directive on the subject.  Kevin Milne is a bit split on the issue, but there is one thing he’s clear on: surely propping up other businesses isn’t a valid reason to force people back into the office?  LISTEN ABOVE  The podcasts in the SME Stream contain general information only, not financial or professional advice....

Fonterra is paying its second-largest dividend in its history. How the dairy co-operative's finances have changed and why its future may too. The podcasts in the SME Stream contain general information only, not financial or professional advice. Any opinions expressed in the podcasts are not necessarily shared by BNZ, or its related entities. BNZ is not liable for any losses resulting from the cont...

Kiwi dairy farmers can breathe a sigh of relief following Fonterra's successful results. The dairy giant posted a $1.1 billion dollar net profit and confirmed a 55 cent total dividend for the past financial year. The Country's Jamie Mackay explains what this news means for the wider dairy sector. LISTEN ABOVE   The podcasts in the SME Stream contain general information only, not financial or profe...

For the love of all that is holy - can we just introduce a capital gains tax and be done with it?  I am so sick of it dominating the headlines. The issue is never ever, ever, ever, ever, ever, ever going to go away, despite two Labour Prime Ministers ruling it out, despite Christopher Luxon ruling it out - it comes up. It's like a nagging child, “I want a capital gains tax. I want a capital gains...

The Warehouse Group says this year's unacceptable earnings have two parts. It's posting a $54.2 million net loss after tax. Last year it made a $29.9 million profit. Sales at The Warehouse and Noel Leeming are down 5.3 percent and Warehouse Stationery is down 6.7 percent. Interim CEO, John Journee says they get it right most of the time, but it needs to be all the time. "Part of it is strategy and...

Leading Kiwi retailer The Warehouse Group has posted a significant net loss off the back of a tough trading environment. The company today posted it announced a net loss of $54.2 million - a contract to last year's $29.8 million net profit. NZ Herald business editor at large Liam Dann says it's unclear if the Warehouse can recover from this. LISTEN ABOVE The podcasts in the SME Stream contain gene...

The Trade Minister has revealed how he managed to get the trade agreement with the United Arab Emirates over the line so quickly. Todd McClay and counterpart Minister Al Zeyoudi signed the deal this morning to remove 98.5 percent of export duties on goods. McClay says he'd been working negotiators hard for four months following an exchange earlier in the year. "We made a commitment together then t...

A lucrative free trade agreement with the United Arab Emirates could be signed into action today.  Trade Minister Todd McClay is meeting with his Emirati counterpart as part of his three-day visit to Wellington.  Negotiations for the FTA began in May, meaning it would be less than 100 days to get it over the line.  Former trade negotiator Charles Finny told Mike Hosking there's huge potential for...

Chris Hipkins is doubling down on the idea of a shake-up to the tax system.  ANZ boss Antonia Watson says the "time has arrived" for a capital gains tax.  Both Christopher Luxon and Finance Minister Nicola Willis rejected the call, joking that the boss of a big Australian bank just wants to take more money off Kiwis.  The Labour leader told Ryan Bridge New Zealand's tax system's loaded against wor...

A PWC tax partner says discussions around a Capital Gains Tax will continue, as the country grapples with raising enough revenue. ANZ head Antonia Watson has told RNZ the time has come for a Capital Gains Tax. Sandy Lau says it'll likely be in the mix of options officials consider in long-term planning for New Zealand's tax system. "I don't think having a Capital Gains Tax is going to be the silve...

Musician and Shihad frontman Jon Toogood shares his best and worst money stories with Liam Dann.  The podcasts in the SME Stream contain general information only, not financial or professional advice. Any opinions expressed in the podcasts are not necessarily shared by BNZ, or its related entities. BNZ is not liable for any losses resulting from the content of the podcasts.  See omnystudio.com/lis...

Labour still isn't ruling a capital gains tax in or out, following comments from the boss of our biggest bank.  ANZ CEO Antonia Watson says while she isn't jumping for joy about the prospect of a capital gains tax, the time has come to for a tax on realised gains.  Labour's Carmel Sepuloni told John MacDonald that Watson is just another example, of a prominent figure who's now open to the idea.  S...

Tonight on The Huddle, Kiwiblog writer and Curia pollster David Farrar and Jack Tame from ZB's Saturday Mornings and Q&A joined in on a discussion about the following issues of the day - and more! Do we really need a Capital Gains Tax? ANZ CEO Antonia Watson has joined the growing calls for one but Heather's not on board - what do we think? Another review into the Northland power pylon inciden...

I don’t know where Christopher Luxon and Nicola Willis get this idea from that you can only do a hard day’s work if you’re physically in the office or on the premises, as opposed to working remotely from home.  Because, from my experience, there is a hell of a lot of time wasted in a lot of workplaces.  Nevertheless, the Prime Minister and the Public Service Minister are giving government workers...