The Reserve Bank has been given the go-ahead to implement
extra measures which could affect future home buyers by
requiring greater deposits before loans are approved.
Meridian Energy has been confirmed as the next state-owned
electricity generator to be partly sold down and listed on
the New Zealand Stock Exchange (NZX) in the second half of
this year.
The Government is expected to announce today the next
state-owned energy company to be partly sold down and if it
is Meridian Energy, the float will dwarf all in the past two
decades.
The Budget today has important implications for the
Government, as it aims to put in place social spending
initiatives which will come into effect in April or June
2014, giving them time to settle in before the general
election later in the year.
SkyCity is about to embark on unprecedented spending as it
prepares to build the New Zealand International Convention
Centre and upgrade its Adelaide casino, Morningstar analyst
Nachi Moghe says.
Retail sales data out yesterday provided further evidence the
New Zealand economy was ''ticking along nicely'', BNZ head of
research Stephen Toplis said.
Budget 2013 would engender business confidence and
demonstrate further improvement in New Zealand's financial
position, BNZ senior economist Craig Ebert said yesterday.
The Government is likely to move into urgency to pass
legislation allowing SkyCity Entertainment to build a $402
million convention centre in Auckland in exchange for
concessions to its gambling operations.
Business interests have expressed their approval for the
economic benefits the proposed $402 million international
convention centre will bring to Auckland and New Zealand.
