The Allied Farmers proposal to buy the assets of failed
finance company Hanover Finance took a major step forward
yesterday when Allied shareholders voted in favour of the
Christmas and New Year statutory holidays are again likely to
cause confusion for employers, who are being urged to seek
professional advice to avoid making pay errors to their
The Treasury's latest monthly economic indicators provided a
mixed view of the economy and reinforced risks around the
shape of the recovery, Finance Minister Bill English said
Twitter is the new "black" when it comes to technology.
The Reserve Bank on Thursday is expected to keep the official
cash rate (OCR) at 2.5%, despite the Australian central bank
last week lifting its main lending rate 0.25% to 3.75%.
The Government is borrowing about $450 million a week, well
up from the $250 million a week previously revealed, BNZ
Capital economist Craig Ebert says.
Labour Party finance
spokesman David Cunliffe yesterday used the release of the
Government's accounts to renew his attack on Finance Minister
Bill English's handling of the economy.
The Government's accounts plunged further into the red in the
four months ending October but there is a hint of good news,
contained in Treasury figures released yesterday.
Finance Minister Bill English has been quick to blame the
previous Labour government for the fact he needs to borrow an
average of $250 million a week. Labour, for its part, blames
National's tax cuts for the need to borrow so much.
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