Source: World Vision
Appointments – WILLIAMSON TO CHAIR GUARDIANS FOR A FURTHER TWO YEARS
John Williamson will Chair The Guardians of New Zealand Superannuation for a further two years to October 2028, Finance Minister Nicola Willis announced today.
Ms Willis said Mr Williamson's reappointment reflected his strong leadership and would maintain stability and continuity at the Guardians, manager of the $90 billion New Zealand Superannuation Fund.
Mr Williamson said the Guardians had implemented some significant organisational changes in the past couple of years, following the adoption of a revised strategic framework in April 2024.
“Our focus continues to be on ensuring we have the right structure and processes to achieve our purpose: Sustainable investment delivering strong returns for all New Zealanders,” Mr Williamson said.
“I'm pleased to have the opportunity to contribute to this important work.”
Mr Williamson joined the Guardians Board in 2016 and was appointed Chair on 1 March 2024.
Ombudsman’s office publishes OIA and LGOIMA complaints information for July to December 2025
Source: Office of the Ombudsman
Employment – Fire and Emergency and FECA reach agreement strengthening leadership and community outcomes
Source: Fire and Emergency New Zealand
Property Market – NZ housing affordability improves to near decade-best levels – Cotality
Mortgage servicing costs have seen the most notable improvement with repayments accounting for 42% of gross median household income, in line with the long-term average.
Although saving a deposit has improved compared with recent years, it remains one of the largest barriers to the housing market for aspiring buyers.
Affordability across the main centres showed a mixed picture in the December quarter, reflecting differences in how property values have adjusted since the market peak.
While affordability for buyers has improved, rental costs remain elevated. Rents currently absorb 27.9% of gross household income nationally, down slightly from a peak of 28.5%, but still above the long-term average of 25.8%.
Improving affordability may reduce one of the key constraints on housing market activity this year, although other factors will continue to influence property values.
Note:
The Cotality NZ Housing Affordability Report measures housing affordability using the ratio of property values to household incomes, the share of income required to service a typical mortgage, the number of years needed to save a 20% deposit, and the proportion of income required to pay rent. The analysis draws on Cotality’s hedonic Home Value Index (HVI), income data from Infometrics, mortgage rates from the Reserve Bank of New Zealand, and rental data from MBIE tenancy bond figures.
Greenpeace – Luxon’s climate policies leave Kiwis hurting as petrol hits $3 a litre
Source: Greenpeace
- Scrapping the Clean Car Discount, which provided rebates for electric and low-emissions vehicles. The collapse in the EV market was instant: In 2023 around one in four new cars sold was electric, by early 2024 that had plummeted to one in 26.
- Cut fees on high-polluting vehicle imports by nearly 80% despite officials warning it would cost Kiwi drivers an extra $115 million at the pump. Now Ministers are considering going further and scrapping the clean car standard entirely,
- C ancelling Auckland Light Rail and scrapping Wellington’s low-emissions transport plan, both of which aimed to reduce car dependence in the country's major cities.
- Ending half price public transport fares for young people
- S lashing funding for public transport, walking and cycleways while pouring billions into 17 roads of “national significance” – the total cost of those roads has now blown out to between $44 – $54 billion
- Cancelling the Government Investment in Decarbonising Industry (GIDI) fund, which helped businesses move away from fossil fuels.
- Plans to build a new LNG import terminal so that New Zealand can begin importing and burning fossil gas for electricity.
Local News – Porirua keeping tamariki and rangatahi at the heart of the city
A report to Porirua City Council’s Te Puna Kōrero Committee has highlighted Council’s commitment to the city’s younger residents.
It highlights a number of initiatives already making a positive impact in Porirua, including:
- Careers Expo – an annual event connecting rangatahi with local employers, training providers, and career pathways to prepare them for a thriving future Mahi Rangatahi programme:
- Council’s inhouse work experience programme for rangatahi, offering mentorship and skill-building opportunities
- Young Peoples Fund – empowering youth to lead their own projects, with funding for community initiatives designed and delivered by young people
- Mau Te Rongo – navigators employed to maintain a safe and engaging presence at Porirua railway station and other locations across the city
- Mana Taiohi and Inside Out training for staff – equipping Council and partner organisations with tools and professional development to better meet the diverse needs of our
- youth.
Retirement Com – New guides give schools clear pathway for implementing financial education
Source: Te Ara Ahunga Ora Retirement Commission
Schools and financial education providers now have access to new Financial Education Implementation Guides, giving them practical support to plan and deliver high-quality financial education as it becomes compulsory in the curriculum.
With 70% of New Zealanders agreeing school is a good place for young people to learn about money, the two guides, developed by Te Ara Ahunga Ora Retirement Commission in partnership with the Ministry of Education and financial education providers, provide a clear roadmap for what to teach, when to teach it, and how learning builds from Years 0 to 13.
Retirement Commissioner Jane Wrightson says the guides remove complexity and provide practical support for schools as financial education is mandated. “The Government’s decision to make financial education compulsory is an excellent step forward to increase New Zealanders’ financial capability.”
“For financial education providers and funders, both current and potential future ones, these guides offer something they've long asked for, a shared framework, clear curriculum expectations, and visibility for programmes that meet the standard. These guides bring everyone onto the same page.”
The release of the guides follows last year’s announcement that financial education will become compulsory within the national curriculum, including through the social sciences learning area, which is currently out for consultation. Financial mathematics is also explicitly included in the updated Mathematics & Statistics learning area. The guides provide practical support for schools as financial education becomes an increasingly important part of the curriculum.
“Every young person in New Zealand deserves to leave school with the skills and confidence to manage their money. These guides are about clarity and confidence. They show schools what good financial education looks like, how learning builds over time, how to work effectively with external providers, and how to plan programmes that are age appropriate and curriculum aligned,” Deputy Secretary for Te Poutāhū at the Ministry of Education, Pauline Cleaver says.
The Retirement Commission has also released new maths resources as part of its Sorted in Schools programme, that apply the guides’ best practice principles and align with the Mathematics & Statistics curriculum, showing how financial education can strengthen learning across subjects.
The Financial Education Implementation Guides are available at: Financial Education Implementation Guides
Notes
Current providers who are part of the financial education providers’ advisory group include ASB, Banqer (supported by Kiwibank), BNZ, Life Education Trust, Money Time, SaVy, Westpac, and Young Enterprise Trust. Assistance will also be offered by the financial advice community. There will be opportunities for new providers as gaps are identified. Schools can choose which provider or providers they want to work with.
Economy – RBNZ working with industry to improve access to basic transaction services
12 March 2026 – Last year the Council of Financial Regulators (CoFR) consulted the public on whether New Zealanders should have the right to access a basic transaction account if they want one.
50 submissions were received and 22 community groups, financial institutions, fintechs, and support services were directly engaged, with 98% of submitters stating that action is needed to improve access to transaction accounts.
Acting Assistant Governor Financial Stability, Angus McGregor, says that the consultation clearly highlighted the challenges some groups face in accessing the basic banking services necessary to meet their everyday financial needs.
“This consultation process has allowed us to gather a wide range of perspectives, take on board industry feedback, and find pragmatic solutions.” Mr McGregor says.
“We received constructive input from the banking sector, and a willingness to work with us to solve this issue through a collaborative approach.”
The RBNZ is developing a Memorandum of Understanding (MoU) to support this approach to addressing financial exclusion.
Under the MoU, participating financial entities will commit to provide access to all New Zealand consumers unless they have a compelling reason for declining to provide a basic transaction product. Public sector agencies will commit to clarifying regulatory requirements, co-ordinating efforts, and highlighting best practices that can be adopted to support financial inclusion.
The MoU will provide flexibility for participating entities to develop their own solutions to promote inclusion, while ensuring progress can be monitored through regular reporting.
This work aims to bring financial inclusion in New Zealand in line with other developed countries such as Canada, the UK, France, Denmark and Sweden.
The RBNZ will be leading co-ordination of the MoU, with support from the Financial Markets Authority, the Banking Ombudsmen, the Retirement Commission, the Department of Internal Affairs, the Ministry of Justice, the Ministry of Business, Innovation and Employment, and the Department of Corrections.
“This work directly supports our statutory purpose of enabling economic wellbeing and prosperity for all New Zealanders, and aligns with recommendations in the Commerce Commission's Market Study into Personal Banking Services.” Mr McGregor says.
It is anticipated that the MoU will come into effect later this year.
More information:
Read the CoFR Consultation Summary on Access to Basic Transaction Accounts: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=1545100f1e&e=f3c68946f8
Background information:
Issues Paper on Access to Basic Transaction Accounts – This Issues Paper builds on Recommendation 14 from the Commerce Commission Market Study into personal banking services, for the banking industry to collaborate to make basic transaction accounts widely available found here: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=86d03f3ba9&e=f3c68946f8
Financial Inclusion Indicators Base Set Report: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=1f879f66b8&e=f3c68946f8
First Steps to Financial Inclusion Report: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=d70d87a7b2&e=f3c68946f8
CoFR – CoFR represents five agencies: The Reserve Bank of New Zealand, the Financial Markets Authority, the Commerce Commission, the Ministry of Business, Innovation and Employment, and the Treasury. Financial Inclusion is one of five priorities for CoFR. The CoFR Financial Inclusion Community also included Te Ara Ahunga Ora The Retirement Commission and the Ministry for Social Development as observer agencies. More information on CoFR's financial inclusion work can be found here: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=2fa26e3350&e=f3c68946f8
Job Losses – Heinz Wattie’s Announces Proposed Changes to Operations in New Zealand
Today, Heinz Wattie's Limited announced proposed changes to certain areas of its New Zealand business as part of the company's shift to focus on its long-term strategy.
ABOUT HEINZ WATTIE'S
A subsidiary of The Kraft Heinz Company, Heinz Wattie's is a major food producer with a proud New Zealand heritage. Founded by Sir James Wattie in 1934, Wattie's is home to the nation's favourite tomato sauce, baked beans, spaghetti and a wide range of fruit and vegetable products and meals enjoyed by millions of Kiwis up and down the country. Learn more about New Zealand's best-loved food brand, by visiting www.watties.co.nz
