Tag: Government

NZ Treasury Anticipates a NZ$1 Billion Blow

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Authorities expect the most recent nationwide lockdown, prompted by the return of new COVID-19 cases, to cost the NZ economy a billion dollars. BNZ bank economists estimate that the lockdown measure will impose a 1-2% impact on NZ’s 3rd quarter GDP. A spokesperson for the bank explained: “This estimate will…

Tax Hikes Likely Coming, Experts Say

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With the general election coming in September, Prime Minister Jacinda Ardern and new National Party leader Judith Collins have both been rather quiet on the subject of tax increases. But economist Cameron Bagrie says that New Zealanders should not expect tax cuts, as the coronavirus crisis has forced the government…

New Charter to Regulate the Use of Data in Algorithms

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Statistics New Zealand has begun using an Algorithm Charter for Aotearoa New Zealand that guarantees the secure use of New Zealanders’ personal data by public agencies. This measure, which regulates the use of data and analytics, comes in response to suggestions made within the Algorithm Assessment Report in 2018. The…

Economy Expected to Perform Relatively Strongly in the Wake of COVID-19

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According to S&P Global, New Zealand is expected to recover from the economic strains of COVID-19 in a better position than most countries in the Asia-Pacific region and around the world. Due to New Zealand’s exceptional pandemic management and well-targeted economic stimulus, the global recession is expected to cause less…

New Zealand Announces Small Business Cash Flow Loan Scheme

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The government has introduced the Small Business Cash Flow Loan Scheme (SBCS) to assist businesses as the country re-opens. Even though most businesses can now operate as normal, many still face an uncertain future, and the SBCS is meant to ensure they can continue to operate. The scheme will be…

IRD No Longer Accepting Cheques

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As of March 1st 2020, the Inland Revenue Department stopped accepting cheques. The decision was taken after Kiwibank, New Zealand Post, and the Accident Compensation Corporation took the same step. According to spokesperson Sharon Thompson, the IRD is becoming more digital in its operations and a majority of its customers…

OneCoin Cryptocurrency Investigation Reaches Second Auckland Church

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The Samoa Worship Centre in Auckland is being investigated by the Department of Internal Affairs for crimes related to cryptocurrency fraud. This is the second church to have alleged ties to a multi-billion dollar scam involving the OneCoin cryptocurrency. US authorities have also charged a OneCoin leader with fraud. Experts…