The Crown books are in good shape and on track to a surplus
next year as the Government maintains its careful and
responsible management of public spending, Finance Minister
Bill English says.
Software developer Jade, which has operations in Dunedin,
made significant financial progress in the year ended
December, chairwoman Ruth Richardson says.
The Government says it is accelerating its efforts to address
the housing crisis in Auckland by establishing a $52million
fund to help with housing development.
Opposition forces are gathering to tear the Government's
seventh Budget apart this afternoon, in sharp contrast to
previous years when Finance Minister Bill English received a
near dream run.
Overall dairy prices have fallen for the fifth consecutive
time, putting extra pressure on over-capitalised dairy
farmers and the New Zealand economy at large.
Goodman Property Trust's annual profit and commentary found
favour with brokers yesterday after the company lifted both
its profit and its cash distribution.
Budget 2015 is likely to see a return to the theme of fiscal
discipline after last year's mini spend-up, Westpac senior
economist Michael Gordon says.
Retail banks have started cutting their mortgage lending
rates in anticipation of the Reserve Bank slashing its
official cash rate, perhaps as soon as next month.
New Zealand's services sector continued to remain in a tight
band of expansion for April and the BNZ-BusinessNZ
Performance in Services Index recorded its fifth consecutive
month of expansion.
Government tax changes for residential property were good
news for Otago homeowners with mortgages because they allowed
the Reserve Bank to reduce its official cash rate and
mortgages would fall.
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