Weekly Digest – 27 September 2023

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.

June quarter shows renewable electricity generation reaches record high

New Zealand achieved 91% renewable electricity generation in the June 2023 quarter, a 10-percentage point increase on the June 2022 quarter, according to data released today by the Ministry of Business, Innovation and Employment (MBIE).

Economy in 2024: ‘Next six months will be painful for households’

For many New Zealanders, 2023 has been a bit of a struggle. Mortgage rates have returned to levels not seen for more than a decade, food increased in price at a near-record rate and petrol prices hit new highs.  But what might 2024 hold?  Stuff asked economists whether we can expect some relief, or more of the same.

New Zealanders stuck in a ‘car dependency cycle’ as fuel likely to rise to record-breaking prices

Fuel prices are expected to continue to rise to record-breaking prices – but many New Zealanders have little option but to keep forking out, even at more than $3 a litre.

Employment during and after disasters

During and after a disaster or emergency, employers and employees need to consider issues such as health and safety, emotional wellbeing and payment options.  Some helpful resources can be found here.

DOC taking second look at West Coast power project

The Waitaha Hydro Scheme would see some of the Waitaha River south of Hokitika travel through a tunnel to a powerhouse before returning to the river. Westpower, the company behind the proposed project, claims the powerhouse would generate enough electricity for 12,000 homes. “We think that every renewable energy project that we can build in New Zealand should be built,” Westpower chief executive Peter Armstrong said.

Tech sector needs government support and plan – industry

The technology sector says it urgently needs the assistance of the government to help create high-value jobs and export growth.  “The next government must support the use of technology to transform the economy, lift the performance of New Zealand industries and create high-value jobs,” NZTech chief executive Graeme Muller said.

Topdressers grounded as farmers close wallets

The amount of chemical and fertiliser applied by aviation is back about 10% for the first six months of this year, and the amount of hours flown down about a quarter. NZAAA chairman Bruce Peterson says it is a tough time for farmers as well as aviation companies.

Banking ombudsman calls for ‘game changer’ tech to fight scams

The number of banking scams is accelerating at a worrying rate, according to the banking ombudsman. Ombudsman Nicola Sladden said new and more sophisticated scams were a key factor behind a 43 percent rise in the number of customer complaints in the year ended June, on the year earlier, with most being phishing or investment scams. Nearly a third of all complaints formally investigated by the office of the ombudsman were about scams.

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