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Energy Sector – Expanded co-investment fund pragmatic response to energy security risks

Source: Energy Resources Aotearoa

Energy Resources Aotearoa welcomes today’s announcement from Resources Minister Shane Jones and Associate Finance Minister Chris Bishop on the implementation of the Government’s $200 co-investment fund for natural gas supply.
The changes mean the Gas Security Fund can now support a broader range of projects that help bring more gas to market sooner, store it for when it’s needed, and rebuild reserves for the future.
Chief Executive John Carnegie says the pragmatic move recognises the real pressures facing New Zealand’s energy system and is a sensible step to help address New Zealand’s gas supply challenges.
“Supporting a wider range of projects, from additional drilling in existing fields and production facility upgrades to exploration and appraisal drilling, can help lift gas supply in the near term and secure longer-term investments like greenfield exploration beyond Taranaki.”
Carnegie says the decision shows the Government understands both the urgency of New Zealand’s gas shortages and the need to restore investor confidence after several difficult years.
“For too long, investors have been wary of committing capital to New Zealand’s petroleum sector because of the lasting impact of the previous exploration ban and the broader set of policy-induced risks.
Energy investors look for stability, clarity, and fairness. This announcement sends a strong signal that New Zealand is once again open for responsible investment in the gas projects that keep our energy reliable and affordable.
With gas reserves rapidly running down, our country faces a growing energy supply crisis, which is driving up electricity prices for households and threatening industries that rely on gas.”
Carnegie says the focus on practical, investment-ready projects is exactly what’s needed.
“New Zealand can’t afford to wait. The proposed administrative arrangements are lean and agile, which should ensure that decisions can be made quickly.”
Carnegie is pleased to see the announcement reflecting another clear example of pragmatic policy for the energy sector, but says cross-party support remains vital for future supply security.
“Secure and affordable energy should not be a partisan issue. Energy Resources Aotearoa will continue to call for durable, evidence-based settings that recognise the ongoing role of natural gas in supporting the electricity sector, and meeting household and industrial needs while emissions fall over time.”
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Weather News – A summery feel to end the week – MetService

Source: MetService

Covering period of Thursday 6 – Monday 10 November – 

  • Warmer temperatures than average for almost everyone for the next few days
  • Possibility of thunderstorms for parts of the North Island over the weekend
  • Rain for the South Island and lower North Island on Monday.

MetService is forecasting warmer temperatures for the rest of the week, as high pressure persists over parts of the country. Most locations will be warmer than average for November, with some notable standouts. MetService meteorologist Alwyn Bakker states, “Christchurch should be the warmest of the main centres today (Thursday), with their high of 28°C soaring over their average November maximum of 19.4°C, while Ashburton and Kaikōura won’t be far behind with 27°C and 26°C maximums respectively.”

That summery feel won’t be all sunshine, however. “Warmer temperatures increase the chance of afternoon showers triggered by daytime heat through a process called convection. In the same way turning the heat up on a saucepan of water starts it bubbling, heating the air close to the surface makes it rise. If there’s moisture in the atmosphere, convection can trigger showers, even thunderstorms if there’s enough warming at the surface,” explains Bakker. As temperatures ramp up and stay high over the weekend, parts of the North Island are likely to see thunderstorms, especially on Sunday.

Conditions are set to be good for the second T20 between the Black Caps and the West Indies at Eden Park tonight. “Northeasterly winds will be dying out, and although there’s the chance of a shower in the region, it’s unlikely the stadium will be affected,” Bakker predicts.

Looking ahead to the start of next week, rain and strong winds are possible as a front is expected to move up the South Island and onto the lower North Island on Monday. “While it’s too early to talk about Watches and Warnings for this event, there is a possibility that some may be issued for the Westland ranges and northern Fiordland,” cautions Bakker.
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Health and Employment – Mental health workers head to mediation with more strike action likely

Source: PSA

The union for 3,500 mental health and public health nurses and mental health assistants will begin mediation tomorrow to try and resolve long standing issues around pay and safe staffing levels.
The mediation, which is provided by MBIE, comes two weeks after these critical frontline workers joined more than 13,000 Allied Health and PAKS (Policy, Advisory, Knowledge and Specialist) PSA members in the nationwide strikes.
“These health workers operate in Emergency Departments, in-patient clinics and in the community 24/7 supporting New Zealanders facing mental health challenges.
“They deserve to be better respected and valued, and staffing levels need to increase so they can do their jobs safely and effectively,” said Fleur Fitzsimons, National Secretary for the Public Service Association Te Pūkenga Here Tikanga Mahi.
“These health workers have yet to receive even a meaningful offer for a new collective agreement that addresses safe staffing levels after 29 days of bargaining over the past year. They are also seeking a pay increase that keeps pace with the increased cost of living facing them and their families.
“These are the health workers who help New Zealanders when they're at their most vulnerable. They work in challenging environments, face cost of living pressures like everyone else, and are struggling with inadequate staffing levels that put both workers and patients at risk.
“The threats to their safety are real – they face increasing assaults and the risks are rising due to low staffing.
“Phase 3 of the Police Mental Health Response Change Programme begins on 17 November, which will see police further reduce time spent supporting mental health staff. This makes safe staffing levels even more urgent.
“The workers are also voting for further strike action throughout November which will occur if tomorrow’s mediation does not settle this dispute.
“Now more than ever, the Government needs to properly fund mental health services so these essential workers can continue to support New Zealanders who need them most. We can’t afford more health workers to go offshore to countries like Australia where they are better valued.”
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.
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Education – Minister Takes Education Off Track – Principals Fed

Source: NZ Principals Federation

The New Zealand Principals’ Federation (NZPF) President, Leanne Otene, said today she reiterates her concerns that the Minister of Education is taking education in the wrong direction.
“As I reflect on the curriculum changes over the past two years, and especially what has been removed, downgraded or ignored in the curriculum, I conclude that we are now out of step with the world’s leading countries,” she said.
“Research tells us that seven East Asian countries are now looking at incorporating soft skills such as critical thinking, creativity, problem solving, collaborative learning and peer assessment into their curriculum frameworks, acknowledging the need for students to develop a range of competencies beyond academic knowledge,” she says.
“For us to be pursuing a heavily structured ‘knowledge rich’ curriculum dominated by memorising and surface learning, rather than deep understanding and critical thinking, will leave our young people ill-prepared for a future in which they will be required to creatively problem solve and co-exist with Artificial Intelligence,” she said.
“In a recent curriculum focused meeting, our regional presidents reported that their principal members will pause all professional development in the new mathematics curriculum this year, and revisit the subject in March 2026,” said Otene.
“The whole curriculum approach needs a complete rethink. There are many issues to consider in respect of the major curriculum changes being presented. The middle of the most demanding term of the school year is not the time to tackle them,” she said.
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Universities – Who benefits from housing intensification? – UoA

Source: University of Auckland (UoA)

New research will explore who’s affected by New Zealand’s intensification boom, and the potential impact housing reforms are having on inequality.

University of Auckland researchers have received an $853,000 Marsden Fund grant to answer one of New Zealand’s biggest housing questions: who actually benefits from upzoning?

Associate Professor Ryan Greenaway-McGrevy and Distinguished Professor Peter Phillips are leading a team of researchers to investigate the social and economic effects of large-scale zoning reforms, including Auckland’s Unitary Plan. They are working to understand how upzoning (housing intensification) has affected communities and neighbourhoods, and whether it has widened or reduced inequality.

“Where we live and grow up matters for a variety of life outcomes,” says Greenaway-McGrevy, “so it’s important to think about how zoning reform can change the geography of opportunity.”

Auckland’s 2016 reform upzoned about three-quarters of its residential land, allowing medium- and high-density housing in areas previously limited to single-house zones. Earlier Marsden-funded research by Greenaway-McGrevy and co-authors found the move sparked a surge in housing construction and helped ease rental pressures.

But while the reforms succeeded in boosting supply, he’s now interested in uncovering the socio-economic effects.

“On the one hand, the potential for upzoning to exacerbate inequalities within cities raises real concerns. On the other, widespread reforms may also enable housing options in neighbourhoods that were previously inaccessible to many households,” says Greenaway-McGrevy.

“There remains an acute lack of evidence on the effects of widespread zoning reforms on spatial inequality because, until recently, such reforms have been rare. Yet investigating and understanding the outcomes is critical to evaluate the potential impacts of current policy proposals and to inform the ongoing design of zoning changes.”

Using evidence from New Zealand’s groundbreaking zoning reforms, the study will provide the first robust case studies on how large-scale upzoning affects neighbourhood composition, opportunity, and social mobility, offering insights for policymakers in NZ and abroad.

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Health – Vaping threatens smokefree progress, Government must act now, health organisation warns

Source: Asthma and Respiratory Foundation

Policymakers are being urged to confront the harsh reality that vaping is undermining years of smokefree progress – a trend the Asthma and Respiratory Foundation NZ has long warned would happen.
New research – recently published in The Lancet – which looked at trends in smoking prevalence before and after the emergence of vaping in New Zealand among 14-15-year-olds, shows that the rise of vaping has stalled progress in cutting youth smoking rates and deepened inequities for Māori and Pacific teens.
The study analysed the ASH Snapshot Surveys spanning 2003 to 2024, a total of nearly 600,000 Year 10 students, and found that while youth smoking has fallen overall since 2003, progress has stalled since vaping took hold. Māori and Pacific teens – already at greater risk of tobacco-related harm – are disproportionately affected.
Foundation Chief Executive Ms Letitia Harding says the findings prove what public health advocates have long feared: vaping is fuelling nicotine addiction, not ending it.
“This study confirms what we’ve been warning about for years.
“Vaping was promoted as a way out of smoking, but for our rangatahi, it’s become a trap,” she says.
“We’re seeing nicotine dependence take hold earlier and more deeply than before – and it’s reversing progress.”
The Foundation’s nearly decade-long fight against tobacco shows the same industry tactics are now being used to hook a new generation on nicotine, Ms Harding says.
“This isn’t harm reduction – this is harm transfer.”
“It’s time the Government stopped treating it as a less harmful alternative and started treating it as the separate public health threat it is.”
Aotearoa once led the world in tobacco control, Ms Harding says.
“Now, we are watching it slip away.”
The Foundation continues to call for tighter restrictions around vapes.
It wants to see the Government halt the establishment of further Specialist Vape Retailers (SVRs), ban the sale of vapes in general retailer stores, limit the nicotine content of all vape products to 20 mg/mL, and re-look at the prescription model.
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Legal Sector Appointments – David Campbell to be the next Law Society President

Source: Law Society

Auckland lawyer David Campbell has been appointed the 34th President of the New Zealand Law Society Te Kāhui Ture o Aotearoa. His appointment was confirmed at the Law Society’s Council meeting earlier today.
Mr Campbell, a respected leader within the legal community, is a partner at Dentons and has served as Vice President of the Law Society Board since 2022. He also contributes to the wider community as a Trustee of the Spencer Mason Trust and was formerly the Chair of Te Tuhi Contemporary Art Trust. 
He will formally take up the role on 27 March 2026, succeeding current President Frazer Barton, who will complete his three-year term.
Mr Campbell says the aspect of being a lawyer that he most enjoys is solving problems for others. He has been actively involved with the Law Society since 2014 and says he is humbled to take on the presidency.
“This is a pivotal governance role for an organisation that not only regulates over 17,000 lawyers but also advocates for the rule of law and access to justice, supports legal aid reform, and contributes to the health of our democracy,” said Mr Campbell.
“The Law Society is a kaitiaki of an exemplary legal profession – a guardian of standards, ethics, and public trust.”
Mr Campbell says his focus will be on maintaining the Law Society’s core responsibilities while continuing to strengthen its wider contribution to the profession and society. 
“Key is ensuring the Law Society continues to perform its regulatory function well – that’s our obligation under the Lawyers and Conveyancers Act. At the same time, we need to keep building on the areas where we already do strong work, such as law reform and advocacy. These functions provide enormous value to society, and it’s essential we maintain and strengthen that contribution.
“Also important is one of the most significant changes at the Law Society in recent years which is the reform of our Representative division. The introduction of a membership subscription has been a particularly positive step – we represent all of the profession, but our more than 10,000 lawyer members are those who truly value what the Law Society offers.”
Mr Campbell says he will be taking on the presidency at a time when the Law Society is in a strong position, with a clear path forward.
“Everything is moving in the right direction. We’re in a state of steady, incremental improvement – and that’s exactly where we need to be.” 
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New Zealand Treasury – Interim Financial Statements of the Government of New Zealand for the three months ended 30 September 2025

Source: The New Zealand Treasury

Thursday, 6 November 2025 – The Interim Financial Statements of the Government of New Zealand for the three months ended 30 September 2025 were released by the Treasury today. The September 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 key fiscal indicators for the three months ended 30 September 2025 were mixed compared to forecast. The Government’s main operating indicator, the operating balance before gains and losses excluding ACC (OBEGALx), showed a deficit of $4.0 billion. This deficit was $0.5 billion larger than forecast. Whereas net core Crown debt was lower than forecast by $5.2 billion at $184.7 billion, or 42.3% of GDP.

Core Crown tax revenue, at $29.1 billion, was $0.5 billion (1.6%) lower than forecast. The largest variances related to other individuals’ tax and source deductions at $0.3 billion (12.1%) and $0.1 billion (1.0%) lower than forecast respectively.

Core Crown expenses, at $36.4 billion, were in line with forecast.

The OBEGALx was a deficit of $4.0 billion, $0.5 billion more than the forecast deficit. When including the revenue and expenses of ACC, the OBEGAL deficit was $4.1 billion, $0.2 billion higher than the forecast deficit.

The operating balance surplus of $0.8 billion was better than the forecast deficit of $2.4 billion. The variance in OBEGAL mentioned above was more than offset by valuation movements, particularly on financial instruments. Net gains on financial instruments were $4.9 billion stronger than forecast, driven by New Zealand Superannuation Fund (NZS Fund) and ACC’s investment portfolio reflecting favourable market conditions. However, this was partially offset by net losses on non-financial instruments of $1.5 billion, largely owing to the net actuarial loss on the ACC outstanding claims liability of $1.7 billion.

The core Crown residual cash deficit of $1.4 billion was $1.6 billion lower than forecast. While net operating cash outflows were $0.9 billion higher than forecast, net core Crown capital cash outflows were $2.6 billion lower than forecast. The net core Crown capital cashflows variance to forecast was largely driven by lower than forecast net purchase of investments.

Net core Crown debt at $184.7 billion (42.3% of GDP) was $5.2 billion lower than forecast. The variance was driven by the combination of the favourable variance in net core Crown debt at 30 June 2025 which resulted in a better starting position for the current year, along with the lower than forecast residual cash deficit during the year, as mentioned above.

Gross debt at $213.2 billion (48.9% of GDP) was $7.9 billion lower than forecast. Similarly with net core Crown debt, the majority of this variance comes from a more favourable starting position. The remaining variance predominately relates to lower than forecast issuances of Euro Commercial Paper.

Net worth at $190.0 billion (43.6% of GDP) was $9.4 billion favourable to forecast. In addition to the operating balance variance discussed above, the better net worth starting position from the 30 June 2025 year also contributed.

      

  Year to date Full Year
September
2025
Actual1
$m		 September 
2025
BEFU 2025
Forecast1
$m		 Variance2
BEFU 2025
$m		 Variance
BEFU 2025
%		 June
2026
BEFU 2025
Forecast3
$m
Core Crown tax revenue 29,117 29,588 (471) (1.6) 125,044
Core Crown revenue 32,479 33,065 (586) (1.8) 139,726
Core Crown expenses 36,357 36,306 (51) (0.1) 150,349
Core Crown residual cash (1,362) (3,001) 1,639 54.6 (14,533)
Net core Crown debt4 184,673 189,833 5,160 2.7 200,188
          as a percentage of GDP 42.3% 43.5%     43.9%
Gross debt 213,235 221,124 7,889 3.6 238,816
          as a percentage of GDP 48.9% 50.7%     52.3%
OBEGAL excluding ACC (OBEGALx) (3,955) (3,459) (496) (14.3) (12,075)
OBEGAL (4,084) (3,835) (249) (6.5) (15,602)
Operating balance (excluding minority interests) 791 (2,397) 3,188 133.0 (9,884)
Net worth 190,030 180,673 9,357 5.2 173,224
          as a percentage of GDP 43.6% 41.4%     37.9%
  1. Using the most recently published GDP (for the year ended 30 June 2025) of $436,103 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 $456,464 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.
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Unemployment rate at 5.3 percent in the September 2025 quarter – Labour market statistics: September 2025 quarter – Stats NZ news story and information release


This email was sent by Stats NZ, 8 Willis Street, Wellington, CBD 6011, New Zealand to nz@enz.mil-osi.com


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Health – Living with advanced prostate cancer: roadshow highlights treatment advances – and access challenges for Kiwi men

Source: Prostate Cancer Foundation

The Prostate Cancer Foundation of New Zealand (PCFNZ) is hitting the road this November, with a six-centre programme aimed at helping men living with advanced prostate cancer, and their families, better understand new and emerging options that are improving outcomes, and quality of life.
The Living with Advanced Prostate Cancer: Patient Information Series kicks off in Tauranga (11 Nov), followed by Hamilton (12 Nov), Auckland (13 Nov), Dunedin (18 Nov), Christchurch (19 Nov) and Wellington (20 Nov), and all are FREE to attend.
“Systemic therapy, radiotherapy, theranostics, imaging and new research discoveries over the past decade have transformed outcomes and quality of life for those living with the challenges of metastatic prostate cancer, yet understanding of what they are, how they co-exist, and fit within treatment pathways is still not widespread,” says Peter Dickens, Chief Executive, PCFNZ.
With the assistance of local oncology specialists and nurses, the events will explore this further, and allow health professionals, patients, and whānau to join the conversation and stay informed about the evolving treatment landscape for advanced prostate cancer in New Zealand.
The roadshow takes place against a bleak backdrop for those accessing care for advanced prostate cancer in our public health system. Many of the treatments that will be discussed are only available when sourced privately at costs running in some cases to hundreds of thousands of dollars for patients and families.
“Prostate cancer is now NZ's most diagnosed internal cancer and the second leading cause of cancer death in men, and yet there has not been a new medicine funded by Pharmac to treat the disease in over 10 years” says Dickens.
“NZ is at the very bottom of the OECD rankings when it comes to medicines funding, behind many demonstrably poorer countries. NZ men are having their lives unnecessarily cut short because of the failure of successive NZ governments to devise and fund a medicines policy fit for purpose for all in our country. This must change.”