Heather du Plessis-Allan Drive

New Zealand's agricultural sector could be impacted by escalating tensions in the Red Sea. Experts warn the ongoing attacks could cause further shipping bottlenecks around the world. The Country's Jamie Mackay says freight prices have climbed to a level not seen since the days of the Covid-19 pandemic. LISTEN ABOVE See omnystudio.com/listener for privacy information.

New Zealand's population has continued to expand in 2023- but the influx has slowed somewhat. New data from Stats NZ shows annual net migration reached just under 126,000 in the year to December. The net migration gain is still one of the largest recorded, it's equivalent to the population of Taranaki. NZ Herald business editor at large Liam Dann explains what this means for economic forecasts. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Finance Minister Nicola Willis has been on the receiving end of backlash over her proposal for the public sector. There's growing speculation the coalition Government will cut jobs in order to meet targets. ZB senior political correspondent Barry Soper says the number of public service workers has gone up by tens of thousands under Labour- and industry leaders will be looking to create savings. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Over in Australia, Prime Minister Anthony Albanese announced his engagement to his long-time partner. The Prime Minister proposed to Jodie Haydon on Valentine's Day, at his Canberra residence. The pair have been together since 2020, where they met at a Melbourne business dinner. Australian correspondent Murray Olds says people from all corners of the country have congratulated Albanese on the engagement. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Dame Noeline Taurua's role is up for grabs, as Netball NZ has launched an open recruitment call. The Silver Ferns coach will have to fight to keep her job, as Netball NZ is determined to choose the best coach to guide the team for the next four years. Sportstalk host D'Arcy Waldegrave explains further. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Proposals to cut Wellington's swimming pool and library hours have been scrapped. The City Council finalised its draft 10-year budget today, in a meeting lasting almost seven hours. The Council voted on spending cuts, including unpopular proposals to trim community services. Councillor Nicola Young disapproves of this verdict, saying one local pool's had its time. "They are spending a lot of money, and they can never stop." LISTEN ABOVESee omnystudio.com/listener for privacy information.

A new report by the Education Review Office reveals primary teachers feel less equipped to teach maths than ever. The ERO report claims almost a quarter of new teachers are not confident about their own teaching abilities in mathematics. Otago University Associate Professor Naomi Ingram says maths is a trickier subject than reading or writing for educators. "Their perceptions are that it is unique, because it is perceived to be more difficult, there's more proportions of time that kids have to think compared to other subjects- to learn mathematics, you need to be confused." LISTEN ABOVESee omnystudio.com/listener for privacy information.

Dame Noeline Taurua will have to fight hard to return as the head coach of the Silver Ferns. Netball New Zealand said the organisation and Dame Taurua had agreed to go to the open market for the role, in the best interests of the Ferns and the 'integrity' of the sport. Netball New Zealand Chief Executive Jennie Wyllie says it's important that they don't take the Silver Ferns' success for granted. "We certainly want to be able to grow and improve on our performance at the Nations Cup in January. I think what we do know is- Noels has got a great legacy and we want to see what her plans are for the future." LISTEN ABOVE See omnystudio.com/listener for privacy information.

Auckland's mayor wants better communication from agencies responsible for the rail network. Wayne Brown had talks with Auckland One Rail, Auckland Transport and KiwiRail yesterday and promised an aggressive plan to reduce disruption. He says communications need to be clear and aimed at the passengers, not other agencies. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Emergency Management Minister says smoke is dissipating from the fire still raging on Christchurch's Port Hills. The blaze has burned through at least 650 hectares since it broke out yesterday, triggering evacuations. The fire is yet to be contained, but people are being allowed back into homes on Hoon Hay Valley and Early Valley Roads. Others will have to stay another night away. Minister Mark Mitchell says firefighters are working incredibly hard. "Today, they had an additional two fixed-wings in there, putting fire retardant in ridge lines and things like that. Their response was so quick." LISTEN ABOVESee omnystudio.com/listener for privacy information.

Over 100 firefighters, 12 helicopters and two fixed-wing planes are working to fight the raging fire in Christchurch's Port Hills. The fire was reported at 2.45pm yesterday on Worsleys Rd and had spread over an area of 100 hectares by the evening. Christchurch mayor Phil Mauger says rubberneckers seem to have heeded the message to stay away. "We've had FENZ-led meetings at the community centre, which is our evacuation hall. And they're commending the public of Christchurch and Selwyn for being so good and listening, which is music to my ears." LISTEN ABOVESee omnystudio.com/listener for privacy information.

Let me tell you something that happened today. This morning, David Seymour was on the radio with Mike Hosking, outlining his plans to tackle truancy in this country by enforcing the rules so that parents cop fines if they don’t send their kids to school. Only about 2.5 hours later, over on ZM, a mum entered a competition to get herself and her daughter to the Taylor Swift show in Melbourne tomorrow. And even though it was 10 to 10 in the morning and school had started at least 50 minutes earlier, her daughter was at home with her and talking on the radio Her daughter was home with a sniffle, which became a bit of a running joke because it was clearly a ‘sniffle’ bad enough to keep her home from school but not bad enough to keep her home from a Taylor Swift concert in Melbourne. Now look, I don't want to be a Grinch to her. Taylor Swift is huge, the tickets are hard to come by, it’d be a wonderful experience for any school kid to go to Taylor Swift, especially overseas. But it kind of made the point, didn’t it? The truancy was a joke on the radio. That’s how chill we are about kids missing class. The 3rd term of last year, 54 percent of kids skipped at least one day every two weeks. Now we can debate whether David Seymour's plan will change that. Maybe it’ll work, maybe it won’t. There’s a case to say it won’t, because the law already exists. Parents can already cop a fine of $300 if they get busted and they just ignore it. And if you don’t care about your child enough to send them to school, I hardly think someone else caring and fining you is gonna change your mind. But at least it signals a change of attitude in Government. I would rather have the Government try everything to get kids back to school, even if some of it doesn’t work, than try nothing. And I hope it actually works. After love and safety, education is the most important thing you can give your child. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Over in the UK, a second parliamentary candidate has been suspended over his comments about Israel. Graham Jones, a former Hyndburn MP has been suspended and faces potential investigation. UK correspondent Gavin Grey says the party's focused on cleaning up its act ahead of the general election. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Tonight on The Huddle, Childfund NZ CEO Josie Pagani and Ben Thomas from Capital joined in on a discussion about the following issues of the day- and more! There's been an uptick in rats and mice invading Countdowns across the country- what do we think of this? Will this harm the company's reputation? The Government plans to index benefits to inflation rather than wage growth- a move the opposition doesn't approve of. Is this better or worse for beneficiaries? New data reveals the Treaty is the third most important issue to voters. Is this surprising news? LISTEN ABOVESee omnystudio.com/listener for privacy information.

Fletcher Building has had an eventful few days, culminating in the loss of chief executive Ross Taylor and chair Bruce Hassall. The company has also reported a $120 million half-year loss after tax. Milford Asset Management's Jeremy Hutton warns Fletcher may need more than a change in leadership to win back investors. LISTEN ABOVESee omnystudio.com/listener for privacy information.

ASB has warned mortgage holders to be prepared for 'any eventuality' when it comes to interest rates. Chief executive Vittoria Shortt says borrowers shouldn't bank on one particular scenario when it comes to future rate hikes. This follows ANZ economists issuing a 'hawkish' prediction that the OCR could go up two more times in the near future. NZ Herald Wellington business editor Jenee Tibshraeny explains further. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Labour's Three Waters policy has been flushed for good today. A bill to repeal the Water Services Act has passed its third reading in the House, and the Government aims to implement its replacement through two further bills by mid-next year. ZB senior political correspondent Barry Soper says it's incredible how much change the original bill went through before the Government scrapped it. LISTEN ABOVESee omnystudio.com/listener for privacy information.

There's growing concerns about Joe Biden's capabilities ahead of the 2024 election. A couple of unfortunate weeks have led to Democrats reconsidering a second term for the President, and Vice Presidents Harris has expressed interest in taking over. US correspondent Dan Mitchinson says it's unlikely Harris will be ready to step in as the next nominee. "California Governor Gavin Newsom is in the wings- but he has to tread carefully. He's got his eye on four years down the road." LISTEN ABOVESee omnystudio.com/listener for privacy information.

Economists are predicting a boost in consumer spending this February 14th. As demand for flowers and chocolates and fancy dinners skyrockets, people are expected to spend more to contribute to this economic bump. Infometrics Principal Economist Brad Olsen says this Valentine's Day is expected to be the first in several years to match pre-pandemic spending demand. LISTEN ABOVE See omnystudio.com/listener for privacy information.

ASB's CEO isn't surprised by today's reduced half-year profit. The bank has reported a 11 percent fall, due to slower lending, reduced margins and higher costs. CEO Vittoria Short says their profitability is linked to New Zealand's economy. "We've seen a slowing in growth as headwinds impact everything from inflation that's feeding through to businesses and homes- and also the rising interest rate environment. That's really contributed to the decline." LISTEN ABOVESee omnystudio.com/listener for privacy information.

New Zealand's Auditor-General has spoken out against Government agencies, claiming their reporting produces 'a lot of rubbish'. John Ryan told the Finance Select Committee that agencies like to tick off 'project milestones', but their actual accomplishments are 'questionable'. He says the general public doesn't get to see or experience the outcomes of these reported milestones. "The public really wants to know what outcomes they're getting from these projects, not whether they're managing it on a day-to-day basis. That's much more than management activity." LISTEN ABOVESee omnystudio.com/listener for privacy information.

It's clear rodents caught in two Woolworths stores could pose a food safety risk. The Dunedin South store has been closed since Friday, and 23 rats have been trapped, in the second infestation since late last year. Meanwhile, Christchurch's Eastgate store is being investigated after video posted online showed a mouse on a salad. Massey University Professor, Steve Flint, says mice and rats could contaminate food with salmonella or E. coli bacteria. "There is some risk, whether it's a big risk or not depends on how many rats or mice are involved, how long they've been there for- and a whole range of other things." LISTEN ABOVESee omnystudio.com/listener for privacy information.

Resignations by Fletcher Construction's two top players can be traced back to a single project. The company has reported a $120 million half-year loss after tax. Chief Executive Ross Taylor and Chair Bruce Hassall have announced they'll both leave this year. Taylor says remediation for the SkyCity fire in 2019 was the most complicated thing he's seen in 40 years in the industry. "We basically progressively only understood what we were up against- and then we had to re-forecast. In the end, I think the team's done a great job to keep it on track, program wise, and we really couldn't forecast until we worked out how to do this stuff." LISTEN ABOVESee omnystudio.com/listener for privacy information.

Fire and Emergency New Zealand crews are battling a significant vegetation fire in Christchurch's Port Hills. Early Valley, Worsley Spur, Worsleys Road and Princess Margaret Hospital have been evacuated, with multiple evacuation centres in place. Summit Road is closed between Dyers Pass and Gebbies Pass Roads, and residents in that area need to be ready to evacuate at short notice. Newstalk ZB's Emily Ansell is at the base of the Port Hills, and she says helicopters are on the scene trying to control the blaze. "The fire looks like it's burning up that pine forest just up on the Port Hills, to the right of the park." LISTEN ABOVESee omnystudio.com/listener for privacy information.

Labour's social development spokeswoman is flaming the Government for suggesting tweaking benefits will get more people in jobs. The Coalition is working under urgency to pass a Bill through the House to link benefit rises with inflation - not wage growth. Social Development Minister Louise Upston says it will ensure people can meet basic needs, and make employment the best way to get ahead. MP Carmel Sepuloni says the evidence doesn't support it making a difference. "Keep in mind, there's a whole lot of people that are on benefits because of health conditions, a disability, perhaps they are sole parents." LISTEN ABOVE See omnystudio.com/listener for privacy information.

It is amazing, isn't it? How the story of one rat in a Dunedin supermarket has just blown up for Countdown. First, it was a photo of a couple of rats in the supermarket in Dunedin. Then there were more rats caught, then the supermarket closed for two days, then it closed for another day and now it's closed indefinitely- until they finish catching the rats. At last count, it was 19 just since Friday. Then there was the video of the mouse on the salad in the Christchurch store, then the news that the salad was thrown away, but pretty much every thing else in the deli wasn't. And a couple of people bought stuff out of the deli after the mouse was found, and now the MPI is investigating and people are talking about boycotting those supermarkets, and my colleagues tell me they’re never buying anything uncovered from a supermarket again. Fair enough, rats and mice are gross- but if you're realistic about it, rats and mice are part of the supermarket business. If you’ve got food sitting around, and supermarkets have lots of that, it will attract pests. This is a battle they're constantly fighting. The problem for Countdown is not actually that the rats and the mice were there, it's that Countdown didn’t take it seriously. The mouse on the salad is gross, 100 percent, but what’s way more gross is that the staff kept selling out of that deli and didn't throw the stuff away. The rats in Dunedin are pretty gross, but what’s worse is that we found out they've been there causing trouble since November and Countdown was trying to get on top of it but hadn't escalated the problem like they should have, prompting an investigation in late January. It's awkward for Countdown, because they are in the middle of a rebrand to Woolworths in part to get the brand away from all the negative associations customers make between the Countdown brand and the allegations that supermarkets over-charge us. Well, it's a tough start for Woolworths because it’s got the rats and mice attached to it. Once again, this is a lesson that the most important thing is not what happens, but how to respond to it. Unfortunate things happen to all of us in a personal or business capacity- and it’s often not the unfortunate thing that gets you in the most trouble but the failure to fess up about it and handle it properly. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Two key by-elections are taking place in the UK this week. Voters will head to the polls in Wellingborough and Kingswood on Thursday February 15- and the Tories are projected to lose these seats. UK correspondent Enda Brady says Rishi Sunak is continuing to lag in the polls and some are calling for Boris Johnson to step in ahead of the upcoming general election. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Tonight on The Huddle, Phil O'Reilly from Iron Duke Partners and Auckland Councillor Richard Hills joined in on a discussion about the following issues of the day- and more! Auckland trains have been cancelled again today due to heat, and there's a warning this could continue until March. AT is blaming KiwiRail and KiwiRail is blaming the weather- can this be fixed? The Retirement Commissioner says it would be better to means test the New Zealand Superannuation Fund instead of raising the retirement age for everyone. Is this a good idea? A video of Travis Kelce shouting at his coach during the Super Bowl raised a few eyebrows- is this a sign of potential anger management issues? LISTEN ABOVE See omnystudio.com/listener for privacy information.

Fonterra has lifted their 2023-24 season forecast farmgate milk price to $7.80 per kilogram of milk solids. Chief executive Miles Hurrell claims the 30 cent increase was inspired by a streak of 5 strong GDT auctions. The Country's Jamie Mackay says this is a good start, but some dairy experts believe it should be higher. LISTEN ABOVESee omnystudio.com/listener for privacy information.

There are growing calls for Fletcher Building to make some leadership changes ahead of tomorrow's half-year result. The company has been placed in a trading halt, and it's been revealed Chief Executive Ross Taylor is 'considering his position'. BusinessDesk managing editor Pattrick Smellie says it's a complex situation- and it's unclear if removing Taylor will solve everything. LISTEN ABOVE See omnystudio.com/listener for privacy information.

New Zealand has gotten one step closer to getting a third medical school to counteract shortages. Waikato University and the Ministry of Health have signed a memorandum of understanding to establish a business case for the program. ZB senior political correspondent Barry Soper says it's unclear how the Government plans to keep this new set of trained doctors where they need to be. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Former leaders from both sides of the nation's political factions have come together to push back against New Zealand joining AUKUS. Ex-Prime Minister Helen Clark and her 2005 election rival Don Brash have co-written an editorial warning, claiming New Zealand needs to safeguard its independent foreign policy. Former National leader Don Brash says New Zealand has developed good working relationships with the US and China, and joining AUKUS would complicate that. "What's changed in the last 10 years is that the United States has suddenly recognised China as a 'peer competitor', and they don't like it. They're pushing very hard to get countries to jump on one bandwagon or the other." LISTEN ABOVESee omnystudio.com/listener for privacy information.

A third medical school in New Zealand is one step closer to becoming a reality. The Ministry of Health has signed a memorandum of understanding with Waikato University to progress a business case, one of the tasks on the Government's 100-day plan. University of Waikato Vice-Chancellor Neil Quigley says they're hoping to take in the first set of students by 2027. "We've worked with our partners in Australia, looking at the curriculum development and accreditation work we need to do. We're sort of set to go as soon as we get the green light from Cabinet." LISTEN ABOVESee omnystudio.com/listener for privacy information.

There's concerns some enrolment requirements could be preventing children from accessing their local school. Last month, the Ministry of Education had to intervene after an Auckland school told a woman who lived within zone that she couldn't enrol her child without a 12-month tenancy agreement. Auckland Grammar headmaster Tim O'Connor says a short-term tenancy agreement is worth monitoring- to ensure nobody cheats the system. "The problem is- we have so many people making choices about the school that they want to go to that's not their local school. In our instance for example, we had 752 out-of-school enrolments in form 3 this year." LISTEN ABOVESee omnystudio.com/listener for privacy information.

A storied 16-year professional basketball career will soon come to an end for Breakers forward Tom Abercrombie. The club's all-time leader in games and points will retire at the conclusion of the NBL season, after winning four championships with the side. Abercrombie made his debut in 2008, and has racked up a record 425 appearances during his long-running athletic career. He says he's 'extremely grateful' for the time he's spent on the team, but he's ready for his next adventure. "It's time for me to experience new challenges and adventures, and pass that baton over to someone else." Abercrombie's final home game for the Breakers will likely be this Friday against Brisbane at Spark Arena. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Prime Minister is facing pressure from more than 9,000 doctors to urgently re-consider repeals to the Smokefree Amendment Act. Some of New Zealand's leading health organisations have banded together to issue a formal request. It asks that, rather than being scrapped in the first 100 days as planned, a new bill is sent to the health select committee. Council of Medical Colleges chair Samantha Murton says there are parts of the law that should remain. "There's a lot of evidence around the measures that are really helpful for reducing cigarette smoking and getting hooked on it, and we need to make sure we're focused on those." LISTEN ABOVESee omnystudio.com/listener for privacy information.

There's a push for a shake up of the Fletcher Building board. The construction company is in a trading halt ahead of the release of its half-year results tomorrow. CEO Ross Taylor is also 'considering his position'. Shareholders Association Chief Executive Oliver Mander says whatever woes the company has, they're down to more than just Taylor. "We do think this is a wider conversation than the CEO, and certainly we've been critical of the board in the past in terms of how it has approached certain issues." LISTEN ABOVESee omnystudio.com/listener for privacy information.

Asbestos has been detected in at least three parks in Sydney's city centre, and an investigation is under way. Authorities confirmed traces of asbestos were discovered in Harmony Park, Victoria Park, and Belmore Park- three popular public parks. Australian correspondent Murray Olds says the friable asbestos identified is particularly dangerous, and the city council is 'apoplectic'. "It's very easily crushed, it can form dust and that releases little fibres that can get into your lungs and ultimately kill you." LISTEN ABOVESee omnystudio.com/listener for privacy information.

Spinner Rachin Ravindra continues to dominate with the ball for New Zealand against South Africa in the final session on the opening day of the second cricket test at Hamilton. Moments ago the Proteas were 161 for six - the left-arm orthodox has figures of three for 24 from an unbroken 16-over spell at the southern end. Sportstalk host D'Arcy Waldegrave explains further. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Concern Auckland's rail issues are a 'bit muddy' with a lack of clarity around the sudden drove of cancellations. Auckland Transport has limited services yesterday and today due to 'heat' affecting track steel. The Public Transport Users Association's Jon Reeves says he's heard claims some work KiwiRail was meant to do over Christmas to prepare trains for heat wasn't done. He says coincidentally, the issues have emerged after the holiday closures. "I don't think everyone's been clear to the media or the public what the issue is, but the end result is- Auckland train users are really having a bad summer." LISTEN ABOVESee omnystudio.com/listener for privacy information.

It looks almost certain that the CEO of Fletcher Building is gone. The company put the shares in a trading halt yesterday, and announced that Ross Taylor would be reconsidering his position. Which says to me- he’s resigning tomorrow. I can’t see a way for him to come out and say he’s not resigning after that statement’s been made. And if he does go, which seems more likely than not, I doubt very much he’ll be alone. I suspect there will be other members of the executive - and maybe even the board - walking out that door with him. And I don’t think anyone's gonna cry any tears over this. Fletcher Building is not a business that you can argue is doing right by its shareholders. There have been calls for the board and the CEO to resign for at least two years, because the company just keeps lurching from one problem to the other. There was the high rise disaster, then the convention centre disaster, then the GIB board disaster, then the pipes problem over in Australia, and then just last week- the $180 million cost blow out on the Convention Centre and the Wellington parking building. As Sam Stubbs from Simplicity pointed out when he was on our show calling for the resignations last week- in the last two years, the NZX has gone up 7.5 percent and Fletcher Building’s shares have gone down 16.5 percent. That’s not average performance, that’s a very bad performance. Meanwhile, the directors asked for a 25 percent pay increase last year, until they got told that was a bad idea and withdrew it. And Taylor, if you listen to the analysts, gets paid about three times what other CEOs of similar sized listed companies get paid. There are significant shareholders who are pretty cross, and I don’t reckon they’ll settle for just Ross Taylor’s scalp tomorrow. I would expect not just one resignation. LISTEN ABOVESee omnystudio.com/listener for privacy information.

King Charles says it's heartening to hear how his cancer diagnosis has helped promote public understanding of the disease. He's released his first statement following the announcement, thanking everyone for messages of support. UK correspondent Gavin Grey says Charles could be moving to a Sandringham farmhouse for the time being- the same one Prince Philip spent his final days in. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Tonight on The Huddle, Trish Sherson from Sherson Willis PR and broadcaster Paddy Gower joined in on a discussion about the following issues of the day- and more! Auckland Transport has voiced disapproval with KiwiRail for shutting the trains down over today's heat level. Is this fair? Is this the sign of a bigger problem. ACT and David Seymour have shot up in the latest Taxpayers’ Union-Curia poll to 13.7 percent. What does this mean- do voters want the Treaty debate after all? Some lobbyists have been given back swipe-card access to Parliament, and a draft of a voluntary code of conduct for lobbyists has been leaked. Should we demand more transparency from lobbyists? Do we need a cooldown period? Heather recently took her two-year-old to the hairdresser for a haircut that cost $40. Is that unreasonable? LISTEN ABOVESee omnystudio.com/listener for privacy information.

Prime Minister Chris Luxon and Finance Minister Nicola Willis are planning to make some changes to public sector agencies. Speculation indicates they could shoulder-tap people with a certain level of business experience to take on leadership roles. NZME business commentator Fran O'Sullivan explains further. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Kiwis out to buy their first home may soon find that process a lot harder. Under the Reserve Bank's proposed new debt-to-income lending rules, it has been estimated an Auckland family would need $172,000 a year to buy an average-priced home. These rules could come into effect by June 2024, in order to stop first home buyers and owner occupiers borrowing more than six times their annual income. CoreLogic economist Kelvin Davidson says these changes could have a positive impact in the long run and tie house prices closer to incomes. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Kiwis out to buy their first home may soon find that process a lot harder. Under the Reserve Bank's proposed new debt-to-income lending rules, it has been estimated an Auckland family would need $172,000 a year to buy an average-priced home. These rules could come into effect by June 2024, in order to stop first home buyers and owner occupiers borrowing more than six times their annual income. CoreLogic economist Kelvin Davidson says these changes could have a positive impact in the long run and tie house prices closer to incomes. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Kiwis out to buy their first home may soon find that process a lot harder. Under the Reserve Bank's proposed new debt-to-income lending rules, it has been estimated an Auckland family would need $172,000 a year to buy an average-priced home. These rules could come into effect by June 2024, in order to stop first home buyers and owner occupiers borrowing more than six times their annual income. CoreLogic economist Kelvin Davidson says these changes could have a positive impact in the long run and tie house prices closer to incomes. LISTEN ABOVESee omnystudio.com/listener for privacy information.

SkyCity could be forced to cough up millions for alleged breaches of legislation on money laundering. The Department of Internal Affairs is accusing SkyCity of violating the Anti-Money Laundering and Countering Financing of Terrorism Act, after a company review. NZ Herald property editor Anne Gibson says SkyCity will be more concerned about the hits to their reputation, over a prospective fine. "This is quite damaging to them, it's not so much about the fine- if there is one." LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Finance Minister plans to implement a 39 percent trustee tax rate by April 1. This increase follows on from Labour's proposed plan for trustee tax rates from Budget 2023. Nicola Willis says the Government is looking to fix up Labour's legislation to ensure rates are properly aligned. "We're concerned that when Labour lifted the top tax rate, that misaligning it with the trust rate would lead to some avoidance activity. The evidence suggests that is what's happened, so we want those rates to stay in alignment." LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Government has unveiled their own legislation designed to replace Three Waters. Prime Minster Chris Luxon confirmed Three Waters will be scrapped by February 23, as part of the Government's 100-day plan. It will be replaced by two new bills by mid-2025 in order to phase in the alternative: Local Water Done Well. Local Government Minister Simeon Brown says the new legislation will allow local council-controlled organisations to have more input. "We'll be enabling that through legislation throughout this year, and that will ensure that councils are able to have their long-term investment in water infrastructure over the long term to get the infrastructure New Zealanders need." LISTEN ABOVE See omnystudio.com/listener for privacy information.