Household saving increases in the June 2025 quarter – National accounts (income, saving, assets, and liabilities): June 2025 quarter – Stats NZ news story and information release


Gaza Israel Ceasefire – PSNA cautious welcome for ceasefire and hostage release deal

Source: Palestine Solidarity Network Aotearoa (PSNA)

PSNA is cautiously welcoming the Gaza ceasefire and proposed exchange of hostages between Israel and Hamas. 


At least 7,000 Palestinians are being held in detention without trial by Israel and about 20 Israeli soldiers are held by Hamas.


Palestine Solidarity Network Aotearoa Co-chair, Maher Nazzal says the deal is a reprieve from Israel’s genocidal attacks on Palestinians in Gaza.


“It’s been two years of mass bombing and starvation.  It’s the worst atrocity of the 21st century.”


“The real tragedy is that the main elements of this ceasefire deal were already agreed to nine months ago in January.  Israel was forced to let Palestinians return to Gaza City, and lower the intensity of its attacks.”


“Within a few weeks, the Israelis scuttled the agreement, shut off all food and intensified their attacks and are now ethnically re-cleansing Gaza City.”


“Expulsion is still the Israeli government’s aim.  Netanyahu must be disappointed that Trump is no longer advocating for removal of Palestinians from Gaza, but Netanyahu usually gets his way with Trump in the end.”


Nazal says PSNA especially notes the Hamas acceptance statement calls on countries supporting the deal – New Zealand included – to make sure Israel abides by the few specific conditions imposed on Israel in the agreement.


 “Israel has broken every peace deal it has ever signed on Palestine, right from occupying more than half of what was allocated by the United Nations as a Palestinian state in 1948.”


“In the 1993 Oslo peace deal, which the US also brokered, there was meant to be a Palestinian state within five years.  Israel made sure this never happened.”


“This time, there is no mention of the Occupied West Bank.  Nothing about return of refugees.  There is no commitment in the Trump deal for a Palestinian state, for Winston Peters to eventually recognise. There’s just a vague pathway with no timelines and it’s all conditional on Israeli approval,” Nazzal says. 


“So we have a message for Winston Peters, who is demanding PSNA and other protesters applaud the Trump deal as ‘case solved’.”


“Ceasefire or not, our campaign to isolate the apartheid state of Israel will continue to grow until all Palestinians are liberated.” 


Maher Nazzal

Co-Chair

Palestine Solidarity Network Aotearoa

PSA slams Minister for crowing over making experienced public service workers redundant

Source: PSA

The Government's restructure of the public service has achieved little more than hurting people and encouraging more of our brightest to head to Australia.
Public Service Minister Judith Collins is applauding the latest public service workforce data showing her government has cut 1533 people from jobs in the past year, at a cost of $80.4m.
“Her comments today are insensitive and hurtful to the lives of thousands of public service workers her government has axed so it can cut taxes for landlords and big tobacco,” said Fleur Fitzsimons, National Secretary for the Public Service Association Te Pūkenga Here Tikanga Mahi.
“These aren't just numbers on a spreadsheet – they're skilled, experienced people who understand how to make government work for New Zealanders. Many have taken their expertise to Australia where they're valued.
“The Minister talks about savings and rebalancing, but what she won't talk about is the long-term damage being done to New Zealand's ability to face the critical challenges ahead.
“We’re cutting experienced policy analysts, managers and administrators at exactly the time we need them most to tackle an ageing population, climate change and our infrastructure deficit.
“The Government claims frontline roles have increased, but our members on the ground tell a different story. Frontline workers are being asked to do more with less support, taking on administrative work that used to be done by the very back-office roles the Minister has axed.
“This is why thousands of health workers and others are striking on 23 October to send a loud and clear message to the Government that its priorities are all wrong and it should be investing more in the public service to deliver to the needs of New Zealanders.
“Spending $80.4 million on redundancy payments to get rid of experienced public servants is a false economy. You can't build a stronger New Zealand by gutting the public service of the very people who help deliver the services Kiwis rely on.
“New Zealanders deserve a public service with the capacity and expertise to deliver the services they need to get ahead and improve their health and wellbeing. Instead, we're watching that capability walk out the door.”
The Public Service Association Te Pūkenga Here Tikanga Mahi is Aotearoa New Zealand's largest trade union, representing and supporting more than 95,000 workers across central government, state-owned enterprises, local councils, health boards and community groups.

Legislation Issues – Walk Without Fear Trust Condemns Hamstrung Judiciary Over Nganeko Killing

Source: Walk Without Fear Trust

Eugene Bareman, Chair of the Walk Without Fear Trust, has criticised “out of touch” politicians and a constrained judiciary regarding the sentencing of coward punch killer Daytona Thompson at the New Plymouth District Court on Tuesday.

Bareman was present on the court steps as the family of the victim, Daniel Nganeko, expressed outrage over the four-year, two-month sentence. He called for politicians to fast-track proposed coward punch legislation and reform the Sentencing Act of 2002.

“A sentence of four years and two months is ridiculous for a recidivist violent offender with multiple aggravating factors, especially when the judge's hands are tied by existing legal precedents. The system also allows multiple discounts from the starting sentencing point of seven years.

“What’s more distressing is that the judge in this case clearly wanted to impose a longer sentence but had to acknowledge that he was unable to do so due to existing legal precedents.”

Justice Paul Radich stated that there was no provocation in the offence and noted that Thompson had used considerable force in his attack.

He condemned Thompson for making a video of the dying 37-year-old, during which Thompson was heard saying, “Come around here, n*****, I’m not a kidder… I just knocked him the f*** out.” The judge described the video as cruel, callous, and a further indignity to Daniel.

Justice Radich said he could not have regard to community desire for a more severe sentence in circumstances, or contemplative legislation change.

“I must apply the law as it stands.”

He took a starting point of seven years’ imprisonment, before giving credit for Thompson’s guilty plea, his youth, the effect his imprisonment will have on his child, and background factors.

Thompson’s previous violent offending was not considered an aggravating factor in his sentence due to his earlier discharge without conviction.

In addition to the custodial sentence, Thompson was issued his first strike warning.

Bareman criticised the slow pace of legislative change regarding coward punch offences. “The Coward Punch Amendment Bill was introduced in September 2018 and was rejected by the previous government. Seven years later, people are still dying, and killers receive pathetically short sentences, revictimising families and prioritising the rights of violent offenders over victims, failing to keep communities safe.”

While welcoming the coalition government's new coward punch laws announced in June, Bareman urged for fast-tracking the legislation to prevent further injustices. He called for an end to automatic sentencing discounts and a review of how discharges without conviction for violent offenses are treated in future sentences.

“Daytona Thompson had two years to change his behaviour; his failure to do so should have influenced today’s sentence. We must remind our politicians that they are accountable to the community they are meant to protect to prevent another family from making the horrific decision to switch off their loved one's life support.”

Background

Daniel Nagneko, 37, was fatally struck by Daytona Thompson on July 26 outside the Tukapa Rugby and Sports Club in New Plymouth.

Thompson, who has a history of violence, had drunk half a bottle of spirits that night tried to provoke several other confrontations.

Daniel was standing with friends on the footpath on Gladstone Rd, at 11.20 pm waiting for an Uber.

Thompson approached Daniel, and the pair began talking. Without warning he swivelled and threw a punch, which struck Daniel on his chin.

Daniel fell backwards and his head hit the edge of the footpath.

He died on July 29, after he was flown to Auckland City Hospital, where scans revealed he had suffered a fractured skull and extensive brain injuries with damage to his frontal and rear lobe.

After the attack, Thompson filmed Daniel, was challenged by bystanders and left the scene.

He turned himself in to the Police the next day. He was charged with manslaughter after Daniel’s death and pleaded guilty.

Video link to Trustee Mike Angove in conversation with Daniel’s father Te Uraura Nganeko describing the agonising decision to turn off Daniel’s life support: https://bit.ly/3IzQqU4

Games – Global Report: Video Games Transcend Entertainment, Affect Positive Change in Players’ Lives

Source: Interactive Games & Entertainment Association (IGEA)

Video games affirmed as a source of connection, stress relief and mental stimulation in one of the largest consumer surveys ever conducted of more than 24,000 video game players in 21 countries across six continents.

Sydney, October 9, 2025 – The Interactive Games & Entertainment Association (IGEA), in partnership with video game trade associations in Canada, Europe, South Korea and the US, recently released the 2025 Global Power of Play report. The report reveals the universal social and emotional benefits of video games, confirmed by both peer-reviewed academic research and a survey of 24,216 active (weekly) players (age 16+) in 21 countries: Australia, Brazil, Canada, China, Egypt, France, Germany, India, Italy, Japan, Mexico, Nigeria, Poland, Saudi Arabia, South Africa, South Korea, Spain, Sweden, the United Arab Emirates (UAE), the United Kingdom and the United States of America (U.S).

“As one of the most popular forms of entertainment in the world, video games are a source of fun and entertainment for billions of players around the world. What the 2025 Global Power of Play report confirms, however, is that video games are much more than that,” said Ron Curry, CEO of IGEA.

“Combined with academic research and one of the largest consumer surveys ever conducted of video game players, the 2025 Global Power of Play Report confirms that games are more than just a source of fun and entertainment for billions of players around the world. In fact, playing video games brings immense value to the lives of global citizens, providing borderless avenues for connection, improving health and mental wellbeing and providing an important role in education.”

 

Globally, players agree on the positive social, emotional and mental benefits of game play:

  • Having fun is the top reason people around the world say they play video games (66%), with stress relief (58%) and keeping minds sharp (45%) making up the top three reasons for playing. The top three reasons Australians say they play video games are to have fun (67%), for stress relief (59%) and to keep their mind sharp (50%).

·        Seventy-seven percent of players globally say video games help them feel less stressed, 70% report reduced anxiety and 64% credit video games with easing loneliness by connecting them to others. Australians feel similarly, reporting games helps them feel less stressed (75%), less anxious (67%) and less lonely (56%).

·        Players worldwide agree that video games provide mental stimulation (81%), provide stress relief (80%) and create accessible experiences for people with different abilities (78%). Australian players are again like their global counterparts, ranking mental stimulation (82%), stress relief (81%) and creating experience for people with different abilities (76%).

 

Players around the world turn to games for broader skill development: 

·        Players agree that video games help improve creativity (77%), problem-solving (76%) and teamwork and collaboration skills (74%). Adaptability (72%), critical thinking (71%) and communication skills (67%) also rank high. In Australia the top three skills players believe are improved by playing video games are problem solving (80%), critical thinking (78%) and cognitive skills (72%).

·        Half of all players worldwide say playing video games has directly bolstered their professional education through technical or behavioral skills, and 43% report that games have influenced their career or educational path. In Australia, 39% say video games have positively impacted their careers.

·        Over half (54%) of global players feel that sports video games have sharpened their realworld abilities in that same sport; 38% of Australians agree.

 

Video games are not only a popular vehicle for lasting connections with children, family members and friends, but also are an avenue to forge new relationships:

·        Nearly two-thirds (62%) of players worldwide agree that video games create spaces for positive connections with others. 

·        Across the world, younger players (ages 16-35) use games to make and build relationships, with 67% saying they have met a good friend, spouse or significant other through video games. Nearly three in four (73%) of that same age group say video games help them feel less isolated and lonely by connecting them to other people.

·        More than half of players globally (55%) say that video games positively impact their relationships with their children, and 68% play with their children in-person at least monthly. 43% of Australian players say games positively impact their relationship with their children.

 

Profile of the global video game player (age 16+): 

·        The global video game player is 41 years old on average and is about just as likely to be male (51%) as female (48%). 

·        There are several countries where significantly more women than men play video games, including Brazil (57% to 43%) and South Africa (58% to 41%). In Australia it is 51% female to 48% male.

·        Globally, the majority (55%) of players play on mobile devices. Action and puzzle games are the top two favored genres in 20 of the 21 countries surveyed.

 

Access the complete 2025 Global Power of Play report at www.igea.net

 

 

About the Interactive Games and Entertainment Association (IGEA)

IGEA (Interactive Games & Entertainment Association) is the peak industry association representing the voice of Australian and New Zealand companies in the computer and video games industry.  IGEA supports the games industry's business and public policy interests through advocacy, research and education programs. For more information, please visit www.igea.net          

The Power of Play Report Methodology

The global survey was conducted by AudienceNet*, gathering 24,216 responses across 21 countries on six continents: Australia, Brazil, Canada, China, Egypt, France, Germany, India, Italy, Japan, Mexico, Nigeria, Poland, Saudi Arabia, South Korea, Spain, Sweden, the United Arab Emirates, the United Kingdom and the United States. Participants were aged 16-65+, and all qualified as active gamers, defined as playing video games for at least one hour per week via console, PC/laptop, tablet, mobile, or VR. Quotas and screening criteria ensured a minimum of 1,000 active gamers per country. All respondents were recruited via professionally accredited consumer research panels.

*AudienceNet is a fully-accredited global consumer research company, currently conducting nationally representative research in 52 countries. As a Market Research Society (MRS) Company Partner, AudienceNet is bound by the MRS Code of Conduct, as well as GDPR in relation to the collection and handling of consumer research data.

Animal Welfare – Two-week consultation on pig welfare law is a mockery of due process – SAFE

Source: SAFE For Animals

SAFE says the Government is making a mockery of due process by allowing just 14 days for the public to comment on major animal welfare law changes that will keep mother pigs in cages indefinitely.
The Animal Welfare (Regulations for Management of Pigs) Amendment Bill has now been referred to the Primary Production Select Committee, which opened public submissions today but with a deadline of 23 October.
“Two weeks is nowhere near enough time for people to consider complex legal changes that will shape animal welfare in Aotearoa for decades to come.” says SAFE CEO Debra Ashton.
The Bill seeks to amend the Animal Welfare Act 1999 to explicitly permit farrowing crates and mating stalls – cages already ruled unlawful by the High Court in 2020 for preventing pigs from expressing normal behaviours such as nesting, turning around, and caring for their piglets.
SAFE says the short consultation period undermines public trust and falls far short of the standards of open, democratic decision-making that New Zealanders expect.
“There is enormous public interest in this Bill,” says Ashton.
“Polling released this week by SAFE and Verian shows that three in four New Zealanders oppose the use of farrowing crates, and 73 percent support a complete ban.”
“People deserve a fair opportunity to have their say, not a consultation window that shuts almost as soon as it opens,” says Ashton.
SAFE has written to the Primary Production Committee urgently requesting an extension to the deadline, so the public can properly consider what’s at stake.
“This is not how democracy should work, and it’s the animals who will pay the price.”
SAFE is Aotearoa’s leading animal rights organisation.
We're creating a future that ensures the rights of animals are respected. Our core work empowers society to make kinder choices for ourselves, animals and our planet.
Notes:
  • Farrowing crates and mating stalls are narrow, metal enclosures that prevent mother pigs from turning around, nesting, or caring for their piglets, depriving them of the ability to display normal behaviours as required under the Animal Welfare Act.
  • In 2020, the High Court ruled in favour of NZALA and SAFE, declaring that the minimum standards and regulations permitting farrowing crates and mating stalls were invalid and unlawful. The Labour-led government at the time initiated a five-year phase out, due to end in December 2025.
  • The Bill would amend the Animal Welfare Act 1999 to permit the ongoing use of farrowing crates and mating stalls for the decade, with minimal changes implemented from 2035.
  • A nationally representative poll conducted by Verian in September 2025 is attached. It found that 74% of New Zealanders oppose the use of farrowing crates, 73% support a complete ban, and 90% believe the Government has a duty to ensure welfare rules comply with the Animal Welfare Act.

Advocacy – Hijacked Solidarity: Bringing the Focus Back to Palestine – PFNZ

Source: Palestine Forum of New Zealand

The pro-Palestine movement began – and must remain – a movement for 

people: for families living under occupation, for those denied safety and dignity, and for a nation struggling for justice. It was never meant to be a stage for political theatre. It was meant to be a platform for humanity.

But lately, that purpose has been lost. In New Zealand, as in many other countries, parts of the movement have been hijacked and used not to help Palestinians, but to advance political agendas and media profiles.

Recent events have made this clear. A protest outside Winston Peter’s home, followed by an attack on the same property, turned a humanitarian cause into a
law-and-order story. 

The focus shifted from Gaza’s suffering to the drama outside a Wellington house. Soon after, opposition leaders began calling for government intervention to free three New Zealanders kidnapped after joining a flotilla to Gaza, a mission they knew would likely be intercepted! 
Their courage deserves respect, but the political noise that followed reduced a complex issue to domestic point-scoring.

These moments reveal a worrying trend: the spotlight has moved from
Palestinians to politicians. From human rights to headlines. 

From justice to performance. When solidarity becomes about self-promotion or anger, it loses its moral force, and Palestinians, unfortunately, pay the price.

Another issue is how Palestinians are repeatedly portrayed only as victims. Yes, the people of Gaza suffer deeply under Israeli occupation and Hamas’s control, but they are not helpless. They are teachers, doctors, engineers, and artists. They are people of resilience, not just pain. When politicians and activists reduce them to victims, they invite pity instead of partnership. And pity, when politicized, becomes a tool, one that turns genuine solidarity into political drama.

We must say it plainly: solidarity that feeds ego or outrage is not solidarity at all. It is appropriate. Palestine is not a prop, and Gaza is not a stage.

Real solidarity is calm, disciplined, and focused on people, not politics. It does
not rely on vandalism, threats, or drama. It focuses on action that makes a real
difference. If you truly want to stand with Palestine, there are clear, constructive actions that matter:

1. Donate wisely: Support trusted humanitarian agencies that send food,
medicine, and aid directly to Gaza. Every dollar can help rebuild lives.

2. Lobby respectfully: Write to MPs urging support for humanitarian efforts
like backing ceasefire resolutions, expanding emergency visas for displaced families, expanding aid, and upholding international law. Change comes through persistence, not provocation.

3. Sign credible petitions: Add your name to campaigns that demand access for aid workers and accountability for war crimes. Numbers and civility both matter.
4. Protect safety: Never share private addresses or threaten anyone. Violence and harassment only weaken our message and our moral ground.
True solidarity is built on principle, on respect for law, human rights, and life
itself.

Palestinians do not need saviours; they need partners. 

They need global allies who listen, support, and empower them to lead their own struggle. As poet Rafeef Ziadah reminds us, “We teach life, sir.” That line is not about despair; it is about dignity. It tells us that even under siege, Palestinians still create, educate, and love life.

Here in New Zealand, we have an opportunity to show what mature, meaningful solidarity looks like. We can reject the politics of spectacle and rebuild a movement grounded in unity, freedom, peace, cooperation, and truth. We can turn slogans into consistent support, and anger into collaborative action.

Palestine deserves better than to be used as leverage in domestic politics. The
world does, too. Let us make it clear, let’s return the focus to where it belongs,
to the people who live, struggle, teach, and hope under unimaginable pressure, to the Palestinians.

Sam Alfa
Governor
Palestine Forum of New Zealand

Economy – NZ Treasury releases Financial Statements of the Government of New Zealand for the Year Ended 30 June 2025

Source: New Zealand Treasury

Financial Statements Summary

This commentary should be read in conjunction with the audited financial statements on pages 37 to 155. The Financial Statements of the Government received an unmodified auditor’s opinion for the year ended 30 June 2025.

The financial results of the Government in 2024/25 show that both total revenue and total expenses have grown since last year. However, as the growth in total revenue was slightly less than the growth in total expenses, the operating balance before gains and losses excluding ACC (OBEGALx) deficit of $9.3 billion was slightly higher than the OBEGALx deficit last year. When including the results of ACC, along with favourable valuation movements (primarily on financial instruments) the operating balance deficit was $4.4 billion, compared to an operating balance deficit of $8.4 billion last year. Net worth was $189.1 billion at 30 June 2025, $1.9 billion lower than last year, as the 2024/25 operating balance deficit described above, along with an increase to veterans’ disability entitlements, was partially offset by revaluation gains on physical assets.

In summary:

  • Total revenue at $169.8 billion in the 2024/25 year was $2.5 billion higher than in 2023/24 and $0.2 billion higher than expected at the Budget Economic and Fiscal Update 2025 (Budget 2025) forecast. These variances were due in part to higher tax revenue (page 8).
  • Total expenses at $183.5 billion in the 2024/25 year were $3.4 billion higher than in 2023/24 and $0.6 billion lower than expected at the Budget 2025 forecast. These variances were spread across several expenditure types (page 10).
  • The operating balance was a deficit of $4.4 billion. While expenses exceeded revenue by $13.7 billion (page 14), this was offset by net gains on financial and non-financial instruments of $8.9 billion.
  • The operating balance before gains and losses excluding ACC (OBEGALx) deficit of $9.3 billion was slightly higher than the deficit reported in the 2023/24 year (page 16), but $0.9 billion smaller than the deficit expected in the Budget 2025 forecast (page 27).
  • Net worth of $189.1 billion has decreased by $1.9 billion since the 2023/24 year (page 26) but was $6.0 billion higher than the level forecast at Budget 2025 (page 28).
  • Net core Crown debt at $182.2 billion increased by $6.7 billion since last year (page 19) but was $3.5 billion lower than the expected in the Budget 2025 forecast (page 28). As a share of GDP net core Crown debt remained unchanged since last year at 41.8% of GDP.
  

Table 1 – Key financial results

Year ended 30 June
Actual2
2025
$ millions
Actual2
2024
$ millions
Variance Forecast
Budget 20253
2025
$ millions
Variance
$ millions % $ millions %
Total revenue 169,811 167,347 2,464 1.5 169,651 160 0.1
Total expenses 183,502 180,061 3,441 1.9 184,112 (610) (0.3)
Core Crown residual cash (5,996) (19,302) 13,306 68.9 (9,990) 3,994 40.0
Operating balance1 (4,400) (8,365) 3,965 47.4 (5,493) 1,093 19.9
Total net worth 189,128 191,049 (1,921) (1.0) 183,130 5,998 3.3
OBEGALx1 (9,306) (8,773) (533) (6.1) (10,175) 869 8.5
Net core Crown debt 182,171 175,464 6,707 3.8 185,644 (3,473) (1.9)
% of GDP
Total revenue 38.9 39.8   (0.9) 39.0   (0.1)
Total expenses 42.1 42.9   (0.8) 42.3   (0.2)
Core Crown residual cash (1.4) (4.6)   3.2 (2.3)   0.9
Operating balance (1.0) (2.0)   1.0 (1.3)   0.3
Total net worth 43.4 45.5   (2.1) 42.1   1.3
OBEGALx (2.1) (2.1)   (2.3)   0.2
Net core Crown debt 41.8 41.8   42.7   (0.9)

  1. Excluding minority interests.
  2. GDP is updated to reflect the most recently published numbers – refer to the historical time series on page 171 for nominal GDP figures (Source: Stats NZ).
  3. Using Budget 2025 forecast GDP for the year ending 30 June 2025 of $435,148 million (Source: The Treasury).

Source: The Treasury

Overall, most key fiscal indicators are showing some signs of recovery…

Following a period of large deficits and debt rising sharply, many of the Government’s key fiscal indicators this year are showing signs of improvement. The year-on-year growth in total expenses was the lowest it has been since 2021. Consequently, total expenses as a percentage of GDP declined from 42.9% of GDP last year to 42.1% of GDP for 2024/25. The core Crown residual cash deficit, which broadly represents the cash shortfall to be funded by the Government, also reduced. The cash deficit was $6.0 billion for the 2024/25 year compared to a deficit of $19.3 billion last year. The smaller cash deficit meant that, in nominal terms, net core Crown debt did not increase as much as in recent years. Net core Crown debt has been increasing as a percentage of GDP since 2019/20, however, it remained unchanged since last year at 41.8% of GDP. Despite these signs of recovery, total expenses continue to exceed total revenues, meaning the OBEGALx deficit has widened slightly to $9.3 billion, although it remained stable as a percentage of GDP at around 2.1%.

Total revenue at $169.8 billion has increased by $2.5 billion compared to last year, with just under half of the increase coming from tax revenue. While growth in the economy has provided some lift to tax revenue, the impact was offset slightly by policy decisions reducing tax revenue, such as income tax threshold changes introduced from 31 July 2024. Most of the remainder of the increase in total revenue came from higher sales of goods and services revenue, driven by the higher wholesale prices on electricity.

Total expenses at $183.5 billion were $3.4 billion more than last year. The year-on-year movement in expenses predominately relates to the impact of indexation on most main benefit types, which are generally indexed to wage growth or inflation. Demographic changes associated with an ageing population has also driven the increase in New Zealand superannuation expenses. Offsetting these increases were decreases in some expense types relating to one-off expenditure in the 2023/24 year, such as impairments.

With the increase in total revenue and total expenses of similar amounts, the OBEGALx deficit of $9.3 billion remained broadly in line with the deficit recorded last year. In addition, the net gains from the valuation on financial and non-financial instruments were $4.2 billion more than last year. While returns on the Government’s investment portfolio were slightly weaker, this was more than offset by the lower losses on the valuation of ACC’s outstanding claims liability and the New Zealand Emissions Trading Scheme (NZ ETS) liability. Higher net gains during the year have resulted in the operating balance deficit of $4.4 billion being $4.0 billion stronger than the result last year.

The Government’s net worth was $189.1 billion, a reduction of $1.9 billion from prior year as the operating balance deficit reported in the 2024/25 year and the increase to the veterans’ disability entitlements were not fully offset by net revaluation gains on physical assets. The revaluation gains were largely due to upward valuations of state highways and electricity generation assets.

Net core Crown debt was $182.2 billion, an increase of $6.7 billion since last year. The increase predominantly reflects the additional funding requirement to cover the cash shortfall in the year, which is illustrated by the residual cash deficit of $6.0 billion. As a share of the economy, net core Crown debt has remained unchanged since last year at 41.8% of GDP.

…and were favourable against the forecasts at Budget 2025.

While most of the key fiscal indicators came in favourable to forecast, total revenue was in line with forecast at $169.8 billion. Despite tax revenue coming in $0.9 billion higher than expected, this was largely offset by lower than forecast revenue from the NZ ETS. The variance in tax revenue was mostly due to strength in corporate tax, on the back of stronger-than-expected provisional tax revenue and stronger investment returns impacting Portfolio Investment Entities (PIE) revenue. The weaker NZ ETS revenue was owing to fewer NZ ETS units being surrendered for emissions obligations than had been assumed in the forecasts.

Total expenses were lower than forecast by $0.6 billion with the variance predominantly driven by Crown entities, particularly in the transport and health sectors (discussed further on page 27). Overall net gains were slightly lower than forecast owing to net losses on non-financial instruments which were $0.2 billion larger than expected. As a result of the variances discussed above, both the OBEGALx deficit and the operating balance deficit were favourable to the forecast at Budget 2025, by $0.9 billion and $1.1 billion respectively.

The residual cash deficit was $4.0 billion smaller than forecast, which broadly mirrors the operating variances described above which impact cash, along with capital cashflows which were $1.6 billion lower-than-expected. This lower than forecast cash deficit flowed through to net core Crown debt, which was $3.5 billion lower than forecast at 30 June 2025.

The results are compared against the 2023/24 year and the forecasts for the 2024/25 year at the Budget 2025 published in May 2025. A comparison of the results against the forecasts for the 2024/25 year at the Budget Economic and Fiscal Update 2024 are discussed in Note 3: Explanation of Major Variances against Budget 2024 Forecasts.

Media – NEW HOMEGROWN SERIES BLUE MURDER MOTEL IN PRODUCTION

Source: The Public Good

Michala Banas and Brett Tucker reunite to lead an all-star cast in new eight-part crime series for TVNZ 1 and TVNZ+

Filming is underway on the new eight-part crime drama Blue Murder Motel for TVNZ 1 and TVNZ+.

Shot on location around greater Auckland, Blue Murder Motel sees multi-award-winning actress Michala Banas reunite with McLeod’s Daughters co-star Brett Tucker.

Banas and Tucker lead an all-star cast as married police detectives Vanessa and Peter Coleman, who are hanging up their badges and taking early retirement from the Australian police force. Their next chapter, investing in their dream – a 13-room motel in a sunny, oceanside New Zealand town. But only one week into their new adventure, paradise takes an unexpected turn when a body is discovered in Unit 3.

Banas is celebrated for her work across television, film and theatre and has built a reputation for versatility, strength in drama and comedy, and a willingness to take on challenging roles. She is widely recognised for her role as Kate Manfredi in McLeod’s Daughters and Amber Wheeler in Upper Middle Bogan and has appeared in a variety of well known series including Nowhere Boys, Winners & Losers, Bad Mothers and Halifax: Retribution. Banas has most recently appeared in A Remarkable Place to Die, and alongside Liam Neeson in feature film Ice Road Vengeance.

“This project has such a great energy, with an incredible cast and crew. We’ve created a really lovely family unit here on set. Reuniting with Brett on this show has been loads of fun. Because of our longstanding friendship off screen, we have a great chemistry and trust with one another as actors, so that makes the work all the more special” comments Banas.
 
Tucker, also an acclaimed actor with an international career spanning television, film, and theatre, is best known to audiences for his roles in McLeod’s Daughters, Troppo, and The Saddle Club. Tucker has also established himself over the past 14 years in the U.S. with standout performances in Mistresses, Station 19, Castle, and Netflix series The Residence.

“The writing is clever and full of surprises, and filming in New Zealand has been an amazing experience. Filming again with Michala has been a highlight. We've always had a great connection, and it’s exciting to explore that again in such a different story,” Tucker comments.

Joining Banas and Tucker on screen are well-known New Zealand actors Jayden Daniels (Tangata Pai, Head High, Shortland Street), Stephanie Tauevihi (Shortland Street, The Panthers, Agent Anna) and Jaime McDermott (My Life Is Murder, Head High, Shortland Street) , as well as an array of guest cast whose performances help create this unique world, and bring additional depth and star power to the show.

Created by award-winning New Zealand writer Kate McDermott and producer Steven Zanoški, Blue Murder Motel is produced by leading drama makers Great Southern Television and will be distributed globally by About Premium Content (France).

Executive Producers for Great Southern, Kathleen Anderson and Philip Smith, say: “It’s an absolute privilege to be working with Michala Banas and Brett Tucker on Blue Murder Motel. They’re very popular amongst the cast and crew and their onscreen chemistry is unmissable”.

Emmanuelle Guilbart and Laurent Boissel, Joint CEOs and Joint Founders of APC say: “We are proud to partner with Great Southern and TVNZ for the first time and thrilled to participate in the financing of this brilliant project. We are confident that Blue Murder Motel perfectly fits the current international market’s growing appetite for glossy, warm and funny light crime series.”

It is being made with the support of NZ On Air and the New Zealand Screen Production Rebate.

Blue Murder Motel will be available to audiences in New Zealand on TVNZ 1 and TVNZ+ in 2026.

“We are thrilled to see another outstanding local drama series moving into production, featuring such a stellar cast and being filmed right here in our own backyard,” says Brent McAnulty, Acting Chief News and Content Officer at TVNZ.

“The continued investment in New Zealand storytelling enriches TVNZ’s line-up of local content, and we are proud to showcase the talent and stories that resonate so strongly with our audiences.”
 

GREAT SOUTHERN STUDIOS      
Great Southern Studios is a passionate and creative production house based in Auckland, New Zealand, with a commitment to making elevated drama that reaches audiences around the world. Its recent scripted projects include Friends Like Her (Warner Bros. Discovery), n00b (Warner Bros. Discovery), Spinal Destination (Sky), and One Lane Bridge (TVNZ, AMC). Great Southern is also renowned for its social-impact factual programmes, including The Restaurant that Makes Mistakes (TVNZ), The Casketeers (TVNZ, Netflix), Coast New Zealand (TVNZ) and Coast Australia (Foxtel, BBC). Great Southern Studios is owned by writer and producer Philip Smith, winner of the 2018 NZ Television Award for Best Script: Drama and co-creator of One Lane Bridgewhich was named Best Drama Series at the 2020 NZ Television Awards.
 
 
ABOUT PREMIUM CONTENT (APC)
APC Studios is headed by experienced principals, joint-CEO & Founders Emmanuelle Guilbart and Laurent Boissel and is a global boutique producer and distributor of high-end international scripted television. APC Studio’s distribution arm About Premium Content (APC) has become one of the leading and most respected global companies in the field of international sales of TV series, with a strong focus on high-end drama. Since its creation in 2014, APC has built a curated slate of English-language and local-language fiction from a range of global producers all over the world including hit drama Keeping Faith(BBC/S4C), Man in Room 301, Deadwind (YLE), Shadow Lines (Elisa Viihde), Pandore (RTBF), Gloria (TF1), Gigantes (Movistar), The Unusual Suspects(SBS Australia), A Very Secret Service (Arte) and Valkyrien (NRK).
 
Created in 2020, APC Studios’ production arm APC UK recently produced two seasons of Obituary for Hulu and RTE in co-production with Magamedia, Wolffor the BBC in co-production with Hartswood Films and two series of The Light in the Hall with Long Story TV and Triongl for S4C, Channel 4 and AMC+.

 
 TVNZ
TVNZ has been a cornerstone of Aotearoa’s media landscape since 1960 and is recognised as New Zealand’s largest network. Its portfolio includes TVNZ 1, TVNZ 2, TVNZ DUKE, and TVNZ+, the online hub for leading local and international content.
 
Content sits at the core of TVNZ’s operations. The network delivers a diverse and compelling schedule that caters to all New Zealanders, combining a strong commitment to local programming with a carefully curated selection of international titles.
 
Each TVNZ platform and channel has a distinct identity, yet their collective strength lies in their ability to work together to reach mass audiences nationwide. TVNZ engages millions of viewers every day and offers a broad range of advertising solutions designed to meet the needs of businesses across Aotearoa.

Buy NZ Made – Procurement changes a significant breakthrough for Kiwi businesses

Source: Buy NZ Made

Buy NZ Made welcomes the Government’s announcement introducing a new Economic Benefit to New Zealand test in public procurement – a long-awaited move to ensure taxpayer dollars go back into creating value, jobs, and stronger local supply chains.
Executive Director Dane Ambler says the change represents a decisive shift from lowest-cost tendering toward long-term national value.
“Government contracts are worth more than $50 billion a year. Even a small share redirected toward New Zealand producers and service providers has a massive ripple effect – supporting regional economies, skills development, and innovation,” Ambler says.
“For decades, Kiwi businesses have been asking for a fairer shot at supplying government. This new economic benefit test is a strong signal that buying local matters.”
Under the new rules, agencies must consider the economic benefit to New Zealand in every procurement. The framework applies to all goods, services, and refurbishment contracts over $100,000, and construction contracts over $9 million.
Ambler says the changes align directly with Buy NZ Made and BusinessNZ’s long-standing advocacy.
“This is about ensuring the money we already spend as a country works harder for New Zealand. When local firms win contracts, that spend circulates through wages, apprenticeships, and community investment – instead of leaving the country.”
Buy NZ Made is encouraging businesses to get ready by quantifying their local impact – including local employment, regional sourcing, sustainability practices, and supply-chain resilience – so they can showcase measurable economic benefit in tender responses.
“This is the time for Kiwi manufacturers, service providers, and suppliers to step forward. Government buyers want to work with you – but you need to tell your economic story clearly.”