Once again it has been a busy month and we are flat out in Wellington getting legislation through the house. A couple of my favourites in the past few weeks were the banning of whole farm conversion to forestry bill and the crack down on dirt bike riders and boy racers. It will now be illegal to gather for boy-racing events and cars can be crushed after one offence.
For many months people have been telling me how sick they are of this very annoying, dangerous and nonsensical vandalism of public spaces - so we sorted it. Dirt bikes in Whakatane, Murupara and Opotiki. Boy racers in Gisborne and all over the place.
Great news also this week that the OCR was again cut by 25 basis points to 3%. This is fantastic news and a long way better than the 5.5% it was only a year or so ago.
The Minister of Finance tells me that 40% of those on fixed interest rates are due to come off in the next six months. That will make a massive difference to those households. For a family with a $500,000 mortgage that can mean up to $650 a month off the mortgage interest bill. Which is about $7800 per annum.
And all the signs of economic recovery and growth are looking stronger. It certainly has taken longer to climb out of this recession than we envisaged when we took over the fiscal nightmare the Labour Government left us with.
But there is good stuff happening too....
- The Official Cash Rate was cut last week - and is forecast to fall further. Lower interest rates will flow through to more money in consumers' back pockets and help stimulate construction demand.
- There's now $7 billion of government-funded infrastructure projects due to get underway by Christmas, including Melling, Otaki to Levin, level crossings in Auckland, the Hawke's Bay Expressway, and more.
- The City Rail Link opens next year, and so does the International Convention Centre in Auckland, plus the new stadium in Christchurch. The world-class new metro sports centre opens this year.
- There's a home reno boom on - tradies say demand is through the roof.
- Precinct Properties is planning $1 billion of new apartments in Auckland. Simplicity has just announced plans for 600 new apartments in Queenstown.
- The latest quarterly update from the New Zealand Infrastructure Commission shows that the value of infrastructure initiatives in the National Infrastructure Pipeline has grown to $237.1 billion, an increase of $30.2 billion over the past quarter.
- Looking forward there is much still to do, and most of our work programme going forward will be focused on the economy, unlocking potential for growth, getting our kids to school and making sure we work hard on providing a good health system for kiwis.
Out and About
The Kawerau Rotarians Gail and Lyn with Mayor Faylene and I at the Keith McKenzie Reserve which will undergo a transformation in a couple of weeks.
Turning of the first sod at the Te Karaka solar farm project with Minister Simon Watts.
COME AND CATCH UP!
Whakatāne True Blues with our wonderful MP Rima Nahkle Member of the Justice Select Committee.
19 September - 10.30am - 12pm
Venue TBC.
Gisborne Members Morning Tea with the MP
Come along and have a chat and ask about any issues.
22 September - 10am-11.30am
Gisborne Hospice Centre Rooms
Lock in the Gisborne A and P Show- 17 and 18 October.
The 150th anniversary of the A and P show is coming up fast.
The East Coast MP team will have a big presence and a tent at the Lawson Field area. We have some great Ministers and MPs coming along and will let you know when the meet and greet sessions are being held. It's such a great time to catch up at the show where the country comes to town.
Main announcements from last week:
- Express lane for new supermarkets – We’re creating an express lane for new supermarkets to boost competition and deliver better deals for Kiwi shoppers. (Beehive PR)
- Infrastructure Pipeline continues to grow – latest quarterly update from the New Zealand Infrastructure Commission shows that the value of infrastructure initiatives in the National Infrastructure Pipeline has grown to $237.1 billion, an increase of $30.2 billion over the past quarter. (Beehive PR)
- New Business Investor Visa to support growth – The Government is modernising visa settings to attract experienced businesspeople to help grow New Zealand’s future. (Beehive PR)
- NZ–UAE Trade Agreement enters into force today, unlocking billions in new opportunities – 98.5 per cent of New Zealand’s exports to the UAE will enter duty-free, rising to 99 per cent by the start of 2027. (Beehive PR)
Five main announcements from previous weeks:
- RMA reforms to deliver jobs and growth: The Resource Management Act (RMA) has been holding New Zealand back for decades. It has let successive governments and councils say ‘no’ to progress, ‘no’ to development, and ‘no’ to building houses, infrastructure, clean energy and other projects New Zealanders need. (Beehive PR)
- Two new seasonal work visas to grow economy: Two new seasonal visa pathways to help New Zealand businesses access the workers they need during peak periods, while also prioritising jobs for New Zealanders. . (Beehive PR)
- New research centre boost to Upper Hutt economy: Around 150 staff are expected to be on site during peak times, but the contractor expects more than 2,000 people to be involved in the project in some way.(Beehive PR)
- Urgent economic action to protect exports: The Government has taken urgent action to prevent what could have amounted to a ‘stop work’ notice for thousands of New Zealand farmers. (Beehive PR)
- Faster heart specialist access in Northland: The number of people in Northland waiting for their first heart specialist assessment (FSA) - waitlist decreasing by 36 percent since November 2023. (Beehive PR)