by Nick Clark, National Manager General Policy At a Glance Big spending Budget. Emphasis on cost of living, health, and climate change, plus ‘business support’ and Māori. Surplus return delayed a year. Next year’s will be even bigger. The Big Picture: Hey Big Spender Budget 2022 is being sold by the Government as putting New […]
Economy
Economic Week – May 20
by Nick Clark, National Manager General Policy Budget 2022 was a big spending budget with a strong emphasis on cost of living, health, and climate change. Its approach was sold by the Government as putting New Zealand on a path to a ‘Secure Future’. The Government considers its new and increased spending and its […]
Economic Week – May 13
Fonterra cuts forecast Fonterra this week revised its 2021/22 forecast Farmgate Milk Price range to $9.10-$9.50 per kg milk solids (from its previous forecast of $9.30-$9.90). This reduces the midpoint of the range, which farmers are paid, to $9.30 (from $9.60). Fonterra cited lockdowns in China due to COVID-19, the economic crisis in Sri Lanka, […]
Economic Week – May 6
Commodity prices slip from highs After trending up over recent months the ANZ World Commodity Price Index dropped 1.9% in April compared to March. Dairy prices fell 4.0% month-on-month, driven primarily by lower prices for whole milk powder. ANZ noted Chinese lockdowns causing logistical nightmares and dampening consumer demand while its economic slowdown will also […]
Biosecurity funding increase is sensible move
An $111 million injection for biosecurity in the May Budget is a pragmatic acknowledgement of how vital it is to our economy we stop pest organisms at our borders, Federated Farmers says. “This extra money shows an appreciation by the government pest incursions can wreak havoc in our primary industries, New Zealand’s powerhouse for export […]
Economic Week – 29 April
by Nick Clark, National Manager General Policy Farm sales slip but still stronger than a year ago The Real Estate Institute of New Zealand’s latest Rural Property Statistics have shown there were 395 farm sales in the three months ended March 2022. This was down 11.4% on the three months to February 2022 and also […]
The perils of spending other people’s money – what Feds wants from the May Budget
By Andrew Hoggard, President Federated Farmers of NZ It’s easy to spend other people’s money and this Government is proving to be expert at it. Unfortunately, it has not been so expert at spending it wisely or caring much about value for money. The Auditor-General reported at the end of March that a $290 million […]
Federated Farmers – Rabobank survey shows continued strong growth in farm staff pay
Average growth of 13 percent in pay packages in the last two years is another reason for more New Zealanders to consider a career in agriculture, Federated Farmers President Andrew Hoggard says. The 2022 Federated Farmers-Rabobank Farm Remuneration Report, released today, shows that since the 2019/2020 survey weighted average incomes in the dairy sector have […]
Economic Week – April 22
Inflation running hot As widely expected, inflation intensified in the March 2022 quarter, increasing to its highest annual rate in 32 years. Statistics NZ’s Consumer Price Index recorded a 1.8% increase in the March quarter compared to the December quarter, pushing the annual rate of inflation up from 5.9% to 6.9%. Although a little lower […]
Economic Week – April 15
OCR jumps in inflation fightThe Reserve Bank moved decisively this week, increasing the Official Cash Rate 50 basis points to 1.50%. The economy is not exactly in great shape and there are many risks to growth, both global and local. The Russian war on Ukraine and China’s latest COVID shut down are both hitting growth […]