Pain inflicted on lives of public service workers exposed in housing report – PSA

Source: PSA

The Government’s deep and wide cuts to public service jobs have taken its toll on the housing market over the past year, as well as the lives of public service workers and public services.
Cotality NZ (formerly CoreLogic) latest home value index showed Wellington remaining the outlier, the only major metropolitan region experiencing big falls over the year (-5%) and over the last three months (-1%). There was also no change in house prices over June in Wellington.
“The deep wounds inflicted by the Government’s rushed job cuts have been laid bare by the impact on the housing market,” said Fleur Fitzsimons, National Secretary for the Public Service Association Te Pūkenga Here Tikanga Mahi.
“The Government not only cut jobs, but there remains a continued threat to the security of employment in Wellington.
“Insecure employment undermines the ability of people to make important life decisions like buying a house and starting a family.
“The cuts and proposed changes to personal grievance protections which amount to a fire at will approach will make it harder for people to commit to buying a home, putting down roots and having children.
“Lives have been turned upside down by this Government with little sympathy for the disruption it has caused.
“This is a heartless government which continues to think up new ways to erode the rights of workers and undermine the capability of the public service.
“Wellington’s economy continues to suffer from its decisions and ordering workers to spend more time in the office is ignoring the real reason for the city’s slump.”
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.

Universities – Hotspots for conservation of threatened native tree identified in Wellington – Vic

Source: Te Herenga Waka—Victoria University of Wellington

Hotspots for the conservation of maire tawake or swamp maire in the Wellington region have been identified by researchers hoping to save this threatened native tree from the deadly myrtle rust disease.

Swamp maire is thought to have been common in the wetlands that once covered the Wellington region. However, farming and urban development have significantly reduced its numbers. The arrival of myrtle rust in 2017 added a new threat and the tree has a conservation status of “nationally vulnerable”.

Priority areas for its conservation have now been mapped in the western suburbs of Lower and Upper Hutt and in the towns of Paraparaumu, Waikanae, Ōtaki, Masterton, Carterton, and Featherston. These priority areas comprise up to 52 km2.

“We've identified sites that are likely to have the highest abundance of swamp maire and the lowest risk of myrtle rust. They're also easy to access so we think focusing on these sites offers the most cost-effective conservation strategy,” said Dr Sarah Herbert, a researcher in biological sciences at Te Herenga Waka—Victoria University of Wellington.

Dr Herbert said the sites could act as refuges for swamp maire, with additional planting undertaken to help maintain the tree's population as myrtle rust spreads.

“Myrtle rust is a fungal plant pathogen that is primarily spread by the wind. It has a devastating effect on swamp maire, causing an almost complete loss of flowers, fruits, and new leaves. There's an urgent need to identify sites where conservation and wetland restoration can take place to help ensure this treasured tree's survival,” she said.

In addition to the priority sites for conservation, the researchers identified other areas that could act as refuges for the tree but these areas would require more intensive management.

“We mapped up to 233 km2 where swamp maire is present in relatively high abundance but where there is a higher risk of myrtle rust, so more effort would be needed to manage the sites. On the plus side, these areas are easy to access and existing community conservation efforts could be supported to allow more intensive control of myrtle rust.”

Pockets of less accessible land in the wider Wellington region could also be considered as refuges for the tree's conservation, she says.

“We identified up to 134 km2, mostly within indigenous forest in the eastern Tararua range and in farmland in the Wairarapa, with potential for swamp maire conservation. Wetland restoration and swamp maire planting programmes by landowners and communities may be possible in places that can be accessed by off-road vehicles or on foot.”

The researchers were able to identify areas for swamp maire conversation by using models of the Wellington region's soil moisture and plant distribution to pinpoint sites where swamp maire was likely to be growing. They then mapped the risk of myrtle rust infection in these areas and graded sites by how easy they were to access.

Results of the research are published in the journal Conversation Biology: https://conbio.onlinelibrary.wiley.com/doi/10.1111/cobi.70088

Economy – Interim Financial Statements of the Government of New Zealand for the eleven months ended 31 May 2025

Source: The Treasury

The Interim Financial Statements of the Government of New Zealand for the eleven months ended 31 May 2025 were released by the Treasury today. The May results are reported against forecasts based on the Budget Economic and Fiscal Update 2025 (BEFU 2025), published on 22 May 2025, and the results for the same period for the previous year.

The majority of the key fiscal indicators for the eleven months ended 31 May 2025 were slightly better than forecast. The Government’s main operating indicator, the operating balance before gains and losses excluding ACC (OBEGALx), showed a deficit of $7.9 billion. This was $0.2 billion smaller than forecast. While the core Crown results were favourable to forecast this was largely offset by weaker results from State-owned Enterprises. Net core Crown debt was close to forecast at $180.3 billion, or 41.8% of GDP.

Core Crown tax revenue, at $111.2 billion, was $0.6 billion (0.6%) higher than forecast. The largest variances related to corporate tax at $0.7 billion (4.4%) above forecast and other individuals’ tax at $0.3 billion (3.2%) higher than forecast, which were partially offset by lower than forecast GST revenue of $0.2 billion (0.6%) and other direct tax revenue of $0.1 billion (3.0%).

Core Crown expenses, at $128.7 billion, were $0.3 billion (0.2%) above forecast.

The OBEGALx was a deficit of $7.9 billion, $0.2 billion less than the forecast deficit. When including the revenue and expenses of ACC, the OBEGAL deficit was $12.3 billion, $0.2 billion lower than the forecast deficit.

The operating balance deficit of $3.9 billion was close to the $4.1 billion forecast deficit. This reflected both the slightly favourable OBEGAL result, and offsetting valuation movements. Net gains on financial instruments were $1.8 billion lower than forecast, driven by New Zealand Superannuation Fund (NZS Fund) and ACC’s investment portfolio. The majority of this unfavourable variance was offset by net gains on non-financial instruments being $1.6 billion higher than the forecast loss. This was largely owing to the net actuarial gain on the ACC outstanding claims liability being $1.3 billion higher than forecast.

The core Crown residual cash deficit of $4.9 billion was $0.4 billion lower than forecast. While net operating cash outflows were $0.5 billion higher than forecast, net core Crown capital cash outflows were $0.9 billion lower than forecast.

Net core Crown debt at $180.3 billion (41.8% of GDP) was broadly in line with forecast. The favourable residual cash position was partially offset by non-cash items, contributing to the net core Crown debt result.

Gross debt at $202.5 billion (47.0% of GDP) was $7.2 billion lower than forecast, largely owing to lower than forecast derivatives in loss and issuances of Euro Commercial Paper.

Net worth at $184.3 billion (42.7% of GDP) was broadly in line with forecast largely reflecting the year-to-date operating balance result as well as movements in reserves.


  

  Year to date Full Year
May
2025
Actual1
$m
May 
2025
BEFU 2025
Forecast1
$m
Variance2
BEFU 2025
$m
Variance
BEFU 2025
%
June
2025
BEFU 2025
Forecast3
$m
Core Crown tax revenue 111,172 110,558 614 0.6 120,894
Core Crown revenue 122,839 122,255 584 0.5 134,188
Core Crown expenses 128,706 128,418 (288) (0.2) 142,207
Core Crown residual cash (4,876) (5,323) 447 8.4 (9,990)
Net core Crown debt4 180,310 180,430 120 0.1 185,644
          as a percentage of GDP 41.8% 41.9%     42.7%
Gross debt 202,522 209,688 7,166 3.4 209,999
          as a percentage of GDP 47.0% 48.6%     48.3%
OBEGAL excluding ACC (OBEGALx) (7,909) (8,125) 216 2.7 (10,175)
OBEGAL (12,263) (12,465) 202 1.6 (14,740)
Operating balance (excluding minority interests) (3,911) (4,121) 210 5.1 (5,493)
Net worth 184,259 184,440 (181) (0.1) 183,130
          as a percentage of GDP 42.7% 42.8%     42.1%
  1. Using the most recently published GDP (for the year ended 31 March 2025) of $431,038 million (Source: Stats NZ).
  2. Favourable variances against forecast have a positive sign and unfavourable variances against forecast have a negative sign.
  3. Using BEFU 2025 forecast GDP for the year ending 30 June 2025 of $435,148 million (Source: The Treasury).
  4. Net core Crown debt excludes the NZS Fund and core Crown advances. Net core Crown debt may fluctuate during the year largely reflecting the timing of tax receipts.

Economic snapshot: March 2025 quarter – Stats NZ media release

Economic snapshot: March 2025 quarter – media release

3 July 2025

Our economic snapshot summarises important economic statistics for the March 2025 quarter.

It uses statistics drawn from key Stats NZ datasets to provide insights into New Zealand’s overall economic performance.

The economy grew in the March 2025 quarter, but contracted over the year.

  • New Zealand’s gross domestic product (GDP) rose 0.8 percent in the March 2025 quarter, following a 0.5 percent increase in the December 2024 quarter.
  • GDP fell 1.1 percent over the year ended March 2025, compared with the year ended March 2024.

    Visit our website to read this news story:

    Household saving decreases in the March 2025 quarter – Stats NZ media and information release: National accounts (income, saving, assets, and liabilities): March 2025 quarter

    Household saving decreases in the March 2025 quarter – media release

    3 July 2025

    New Zealand household saving dropped $392 million to -$1.6 billion in the March 2025 quarter, as household spending increased more than disposable income, according to figures released by Stats NZ today.  

    Negative saving means households spent more than their disposable income. Negative saving can be funded by borrowing and drawing on existing funds.

    New Zealand household net disposable income rose 1.5 percent to $60.6 billion in the March 2025 quarter.

    “The main driver of a rise in net disposable income this quarter was an increase in salaries and wages, up 1.5 percent,” institutional sectors spokesperson Will Bell said. 

    Visit our website to read this news story and information release and to download CSV files:

    China: Authorities must end interference in Tibetan religious practices as Dalai Lama announces succession plan – Amnesty International

    Source: Amnesty International

    Responding to the Dalai Lama outlining the process for his spiritual succession ahead of his 90th birthday, amid longstanding efforts by Chinese authorities to control the reincarnation of Tibetan Buddhist leaders, Amnesty International’s China Director Sarah Brooks said:

    “The Chinese authorities’ ongoing efforts to control the selection of the next Dalai Lama are a direct assault on the right to freedom of religion or belief. Tibetan Buddhists, like all faith communities, must be able to choose their spiritual leaders without coercion or interference by the authorities.

    “The Chinese authorities have a long history of systematically suppressing religious freedom and tightening control over Tibetan Buddhism. For example, in 1995 the authorities forcibly disappeared Gedhun Choekyi Nyima, the boy recognized by the Dalai Lama as the Panchen Lama; Beijing has yet to properly explain his fate and whereabouts.

    “This climate of secrecy, coupled with the imposition of numerous state-appointed religious figures within Tibetan Buddhism, highlights a concerning pattern of state control over religion in China.

    “The Chinese authorities must immediately end political interference in Tibetan religious practices and cease using religious succession as a tool for control and coercion. Authorities must uphold the right of everyone to freedom of religion or belief. They must also immediately allow independent access to Gedhun Choekyi Nyima and take steps to end 30 years of impunity for his disappearance.”

    Background

    His Holiness the 14th Dalai Lama, the Tibetan spiritual leader, announced on Wednesday (2 July) in Dharamshala, India that he will have a successor after his death. He said only the Gaden Phodrang Trust, which he founded, had the authority to recognize his future reincarnation.

    Chinese government policy asserts that all reincarnations of Tibetan Buddhist “Living Buddhas” must be approved by state authorities. This position is detailed in legal instruments such as the 2007 Measures on the Management of Reincarnation of Living Buddhas, which require official vetting and approval by multiple levels of government depending on the religious figure’s influence.

    In its March 2025 white paper, “Human Rights in Xizang in the New Era,” the Chinese government reaffirmed this position, stating that the reincarnation system operates “under the guidance of Buddhist associations and the administration of the government.” The paper boasts that 93 reincarnated Living Buddhas had been confirmed following government approval by the end of 2024, highlighting state control as a key achievement.

    Gedhun Choekyi Nyima was six years old when he was recognized by the Dalai Lama as the 11th Panchen Lama in May 1995. Three days later, he and his family were forcibly disappeared by Chinese authorities. He has not been seen in public since. The Chinese government has since made vague claims that he is “living a normal life”.

    Under international human rights law, including Article 18 of the International Covenant on Civil and Political Rights (ICCPR), all individuals and communities have the right to adopt and manifest a religion or belief of their choice without coercion. Although China has signed but not ratified the ICCPR, it remains obliged not to defeat the treaty’s object and purpose. Enforced disappearance is a continuous violation under international law until the fate of the individual is clarified.

    The UN Committee on the Rights of the Child and the UN Working Group on Enforced or Involuntary Disappearances have repeatedly requested information on the whereabouts of Gedhun Choekyi Nyima. The Special Rapporteur on freedom of religion or belief has emphasized that religious communities must be free to determine their leadership without state interference.

    New report: Uber shifted millions offshore, avoiding $56m in NZ tax – Workers First Union

    Source: Workers First Union

    A new report from the Centre for International Corporate Tax Accountability and Research (CICTAR), commissioned by Workers First Union, argues that multinational rideshare and delivery giant Uber appears to be shifting hundreds of millions in misclassified profits out of New Zealand, costing the country millions in tax revenue.
    The report examines Uber’s local and global business practices and approach to revenue and taxation, concluding that Uber’s practice of misclassification ext

    Economy – Appointments to Board of Reserve Bank of New Zealand

    Source: Reserve Bank of New Zealand

    1 July 2025 – The Reserve Bank of New Zealand – Te Pūtea Matua welcomes the appointment of Grant Spencer and the reappointment of Byron Pepper to its governing Board.

    Mr Spencer will serve for a five-year term, from 1 July 2025 to 30 June 2030. Mr Pepper will serve for a five-year term from 1 July 2025 to 30 June 2030.

    Mr Spencer and Mr Pepper were appointed by the Governor-General on the recommendation of the Minister of Finance following their participation in a public appointment process run by Te Tai Ōhanga – The Treasury.

    Grant Spencer brings extensive expertise in central banking, financial stability, and monetary policy. He held several senior roles at the Reserve Bank of New Zealand, including Deputy Governor, Head of Financial Stability (2007–2017), and Acting Governor (2017–2018). His international experience includes active participation in OECD and EMEAP forums, as well as contributions to the development of New Zealand's capital markets.

    In addition to his professional experience, Mr Spencer is an Adjunct Professor at Victoria University of Wellington, with academic interests in financial regulation and macroeconomics. He holds advanced qualifications in economics and econometrics.

    “Mr Spencer's appointment will enhance the Board's expertise in prudential regulation, macro-prudential policy, and financial market operations, offering complementary strengths to existing board members, particularly in the context of New Zealand's central banking landscape,” RBNZ Board Chair Professor Neil Quigley says.

    Byron Pepper continues to bring strong governance and financial expertise to the Board. An independent investment banking advisor and director, Mr Pepper has more than 25 years' experience advising corporate and government clients, particularly in the financial services sector across New Zealand, Australia, and internationally.

    He is the former director of Ando Insurance Group Limited and currently serves as a director or trustee of several New Zealand-based entities. Mr Pepper is also the founder of Vorigo Advisory, following a 22-year career at Goldman Sachs in its global investment banking business.

    “We're pleased to reappoint Mr Pepper to the Board,” says Professor Quigley. “His financial and governance experience continues to add valuable insight to the RBNZ's decision-making.”

    The Reserve Bank welcomes the contributions of both Mr Spencer and Mr Pepper to its governing Board and looks forward to their support in delivering on Te Pūtea Matua's strategic objectives.

    More information

    Our Board members – Reserve Bank of New Zealand – Te Pūtea Matua: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=886fb7c291&e=f3c68946f8

    Environment – Wildly inaccurate figures used to justify ‘Shane’s $200 million fossil fuel slush fund’ – Greenpeace

    Source: Greenpeace

    It has come to light that a Cabinet paper justifying the Government’s $200 million subsidy for new gas fields used wildly inflated and inaccurate gas price figures. Some were more than seven times higher than the true value.
    Greenpeace has called it a “complete debacle” and is calling for the Government to scrap what it calls “Shane’s $200m fossil fuel slush fund’’ immediately.
    “Minister Jones’ office has given Cabinet hugely incorrect figures on the gas industry, which were used to decide on the next steps for his $200 million fossil fuel slush fund,” says Greenpeace spokesperson Gen Toop.
    “The Government should pull that $200 million fossil fuel subsidy immediately and use the money to fund solar and other clean energy generation instead.”
    The paper, prepared by Minister Shane Jones’ office, claimed 2024 commercial gas prices rose by 58%, when the correct figure was just 8%. Residential gas was claimed to have increased by 17%, but the actual rise was only 3%. Industrial and wholesale prices were also around double the true values.
    A red comment made in the margins of the now-released paper reads: ‘There was an error in calculations… that was not identified before the material went to Cabinet.’
    “These figures aren't just slightly out, they are wildly inaccurate. Either Minister Jones doesn’t understand the energy system, or he’s showing flagrant disregard for the facts,” says Toop. 
    “Either way, funnelling public money to fossil fuel corporations during the climate crisis is indefensible.”
    “Fossil fuels are polluting, finite and expensive. The Government should be backing affordable clean renewables like wind and solar that can actually secure our energy future.”

    Dairy Sector – Guy Roper to Chair NZ Dairy Companies Association (DCANZ)

    Source: Dairy Companies Association of New Zealand (DCANZ)

    The Dairy Companies Association of New Zealand (DCANZ) has appointed Guy Roper as its Independent Chairman.
    Mr Roper takes up the position from Matt Bolger, who stepped down at the end of last year following his appointment to Fonterra’s senior management team.
    Mr Roper is an experienced director, with a strong background in the dairy industry.
    As Chief Executive of Port Taranaki for six years up until 2021, he played an important role in the supply chain that enables New Zealand’s dairy exports. Before this, he held a variety of roles in the dairy sector, including at Fonterra as Global Account Director for Nestlé and as Commercial Director of Global Trade and Ingredients, as well as a farmer-elected director of the former Kiwi Co-operative Dairies, one of the two co-operatives that merged to form Fonterra. He currently holds directorships of Fisher Funds Management and Port Nelson.
    As Independent Chair of DCANZ, Mr Roper will chair a governance group comprising CEO’s and executive leaders of 11 dairy companies that together account for more than 98% of the milk processed in New Zealand. These companies come together at DCANZ to work in the best interests of the dairy industry.
    “DCANZ is pleased to welcome Guy to this role,” says Brendhan Greaney, CEO of Tatua, speaking on behalf of the DCANZ Executive Committee.
    “His governance capabilities, combined with a wealth of relevant knowledge and experience from previous executive roles, and his general passion for improving New Zealand’s prosperity through trade, will be important assets for DCANZ.”
    Mr Roper says: “I am excited to have this opportunity to contribute to a sector that I believe in and identify with.
    “The dairy industry plays an important role in New Zealand, and the leadership of dairy companies matters, especially in challenging times”.
    DCANZ is focused on growing dairy trade opportunities. Not only does this mean bringing down trade barriers, it also includes ensuring dairy exports, which currently deliver 35% of New Zealand’s total goods trade earnings, continue to be supplied within efficient and globally respected food regulatory and biosecurity frameworks. DCANZ also works to maintain New Zealand’s reputation as a reliable supplier of top-quality, safe and sustainably produced dairy products.