What happened Tuesday

Economy / news

A review of things you need to know before you sign off on Tuesday; EOY rate changes, housing market mixed; Govt. can't deliver a surplus but does deliver for business, dairy farms back in profit, swaps stable, NZD holds, & more

17th Dec 24, 4:00pm by David Chaston

Here are the key things you need to know before you leave work today (or if you work from home, before you shutdown your laptop).

MORTGAGE/LOAN RATE CHANGES
The bank of China cut its floating rate by -50 bps to 6.99%. Both CFML and Resimac changed carded rates today. All rates are here.

TERM DEPOSIT/SAVINGS RATE CHANGES
Mutual Credit Finance has cut its 1 - 5yr TD rates. All updated term deposit rates less than 1 year are here, for 1-5 years, they are here.

HOUSING MARKET YEAR ENDING ON A QUIET NOTE
According to the REINZ's agent data for November, the housing market was quiet in Auckland, but more buoyant in rest of the country. Overall, house prices drifted sideways in the month, with sales volumes lumpy.

PROMISED SURPLUS NOT POSSIBLE NOW
The Coalition Government says it will not balance its budget within the forecast period, as Treasury forecasts a weaker economic recovery. The Finance Minister says it is not possible because of the large ACC obligations. Credit rating agencies are unlikely to be impressed.

BORROWING $20 BLN MORE
To cover its 'losses' the Government is going to have to borrow more. The forecast 2024/25 New Zealand Government Bond (NZGB) programme has been increased to $40 billion, +$2 billion higher than that published at the Budget Economic and Fiscal Update 2024. The forecast NZGB programmes for 2025/26, 2026/27, and 2027/28 have also been revised higher, by +$4 billion, +$6 billion, and +$8 billion respectively.

UPTICK
The latest SEEK NZ employment report shows a small increase in job advertisements during November, buoyed by higher job ad volumes in urban regions. It was the first time job ads rose since July.

NZX EQUITY MARKET UPDATE
Here is a summary of how the NZX equity market traded today, as at 3pm. Mercury, Kathmandu, & Channel Infrastructure are today's biggest gainers, with Tower, EBOS, Goodman Property, and the NZX leading the decliners.

CHRISTMAS GIFT FOR BUSINESS SUPPORTERS
The adult minimum wage rate will increase by +1.5% to $23.50 an hour from 1 April 2025, a +35c/hour rise (+$2.80 per eight-hour day) justified because of "considerable progress in reducing inflation". The problem is that inflation is still running at 2.2%. Household living costs are up +3.8%. The cost of living for lowest-spending households increased +4.3% in the 12 months to the September 2024 quarter.

CHRISTMAS GIFT FOR FORESTRY OWNER SUPPORTERS
The Government has today confirmed a -50% reduction to the annual charge for forest owners participating in the forestry Emissions Trading Scheme. That will reduce the annual charge from $30.25/ha per year to $14.90.

MORE OFFSHORE WORKERS
A long list of 'reforms' related to hiring within the Accredited Employer Work Visa system have been announced that will make it easier to bring in offshore workers.

A BETTER YEAR COMES AROUND
DairyNZ’s latest farm financial forecast shows a national breakeven price of $8.32/kgMS. With the average national forecast payout now sitting at $10.08/kgMS, that’s potentially +$1.76 of cream on top for farmers, which is well above the profit margin of recent seasons. More here.

NOT LOOKING AHEAD WITH OPTIMISM
In Australia, the latest Westpac-MI consumer sentiment survey shows a smallish dip in confidence with views of current conditions holding up. But consumers there have turned pessimistic again on the future outlook and those declining views are weighing on both labour market, and housing market sentiment. Another survey of businesses shows all is not so flash on the factory floor.

BREAKING THE ANTI-SPECULATION RULE
In China, they have reversed the long-standing rule that banned their commercial banks from making loans for "investment" in the stock market. It is a change that has triggered speculation that Chinese regulators are now channelling credit from the banking system into the stock market, in order to keep share prices afloat as China's economy stays under pressure.

SWAP RATES STEEPER AGAIN
Wholesale swap rates are probably little-changed again at the short end today, but the long end higher again, so the steepening is still underway. Our chart below will record the final positions. The 90 day bank bill rate was down -2 bps yesterday at 4.27%. The Australian 10 year bond yield is also down -2 bps from this time yesterday at 4.35%. The China 10 year bond rate has fallen another -1 bp to just under 1.74% and yet another all-time low. The NZ Government 10 year bond rate is up +3 bps at 4.63% while today's RBNZ fix was 4.54% and unchanged. The UST 10yr yield is now just under 4.40% and little-changed from this time yesterday. Their 2yr is now just under 4.25%, so that positive curve is still +15 bps, with little-change.

EQUITIES MOSTLY FIRMER
The NZX50 has risen +0.3% in late trade today. And the ASX200 is up +0.9% in afternoon trade. Tokyo has opened its Tuesday trade +0.4% firmer. Hong Kong is down -0.4% and Shanghai is up a minor +0.1%. Singapore is down -0.4% at its open. The S&P500 rose +0.4% on Wall Street in its Monday trade.

OIL SOFTISH
The oil price is down -50 USc from this time yesterday, now at US$70.50/bbl in the US, and now just under US$74/bbl for the international Brent price.

CARBON PRICE UP
The carbon price has been a little volatile this week but back up today at NZ$63/NZU with some better trading volumes in the market. See our new daily chart tracker of the NZU price for carbon, courtesy of emsTradepoint.

GOLD SLIGHTLY FIRMER AGAIN
In early Asian trade, gold is up +US$5 from this morning, now at US$2658/oz.

NZD FIRMS
The Kiwi dollar is up +10 bps from this time yesterday, now at 57.8 USc. Against the Aussie we are up +10 bps at 90.7 AUc. And against the euro we are unchanged at 54.9 euro cents. This all means the TWI-5 is now just over 67.8 and up +10 bps from this time yesterday.

BITCOIN FIRMS FURTHER
The bitcoin price has risen to US$106,391 and up +0.9% from where we were this time yesterday. Volatility of the past 24 hours has been moderate at just over +/- 2.1%.

Daily exchange rates

Select chart tabs

Source: RBNZ

Source: CoinDesk

Daily swap rates

Select chart tabs

Source: NZFMA

This soil moisture chart is animated here.

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92 Comments

by kiwikidsnz | 17th Dec 24, 4:01pm 1734404495

"What's the moral of the story? That National and Labour are essentially the same party, just run by different actors, sales folks and marketing directors who are pretending their two products are different, because they use different branding & colors. They're like Coke and Pepsi Cola."

Its Official: Behind all the Hot Air from the PM & Finance Minister, National is Running a Bigger Borrow-and-Spend Government than 6 years of Ardern & Robertson.

by Te Kooti | 17th Dec 24, 4:38pm 1734406722

If we are honest, there is little anyone can do.

We are highly indebted at a consumer level and reasonably so at a sovereign level. We have high energy prices which, when combined with geographic isolation, makes manufacturing virtually impossible. We have signed up to Net Zero which continues to erode our export competitiveness as we incentivise carbon capture over primary produce. We have over-priced housing relative to wages which means a high propertion of income goes on rent or mortgages and those profits ultimately are repatriated overseas.

We need to grow exports, work back from that and do whatever it takes.

Actually, I'll give the coalition credit for removing council consent on dwellings up to 60sqm.

by AN Other | 17th Dec 24, 5:12pm 1734408722

Buy more BEVs and cut down our importation of oil?

Buy and install domestic solar (with battery storage) as well, to reduce the load on the electricity network (don't assume I'm saying everyone will be able to export their excess to the grid).

These are probably insignificant in the scheme of things. BEV buses and trains might be a (slightly) better move.

by Pa1nter | 17th Dec 24, 5:18pm 1734409111

It would be lovely one day to have someone do a comprehensive budget on some scenarios.

- This much for the generation and storage build

- this much for the mass electric public transport

- this much to run and maintain it

- this much revenue

I realize sometimes this is done on a project by project scenario, but something comprehensive would be good.

by Let me be Frank | 17th Dec 24, 5:27pm 1734409634

And a further one (that set the parameters for those mentioned)....'this many people'.

by Pa1nter | 17th Dec 24, 5:52pm 1734411151

That's fundamental to paying for it also.

Otherwise we're building infrastructure a shrinking number of people are paying for.

by Let me be Frank | 17th Dec 24, 6:02pm 1734411760

Obviously...but as you note we do not manage a proper budget nor do we manage our population....indeed we appear to manage nothing.

by Pa1nter | 17th Dec 24, 6:54pm 1734414864

Effectively managing it is potentially beyond a democracy.

I'd call what our governments do "tinkering" or maybe "nudging".

by Advisor | 17th Dec 24, 6:08pm 1734412099

We're far off from a shrinking population having added 900k people in just under a decade at an average growth rate of 1.8% per year. That puts our population growth in line with many developing countries.

Has that helped raise more funds at all for better infrastructure or put us deeper into the hole than when we started on this unsustainbly high migration journey?

by Pa1nter | 17th Dec 24, 6:34pm 1734413682

It's the age of the population that's the problem.

Not the size.

So it didn't raise much more funds, it supplemented the losses inherent as our dependent numbers rise and worker numbers fall.

by Let me be Frank | 17th Dec 24, 7:07pm 1734415634

That problem is some years away for NZ....not that we wont be impacted by changing global preferences.

https://www.stats.govt.nz/tools/interactive-population-pyramid-for-new-…

by Te Kooti | 17th Dec 24, 7:10pm 1734415811

We export our talent whilst simultaneously importing those that will work for less, ie from developing nations.

The big corporates get cheap labour and a phone and power contract and we let some dwellings.

by singautim | 17th Dec 24, 10:10pm 1734426657

and the developing world loses nurses and skilled workers they can ill afford to lose

by Speedmax | 18th Dec 24, 2:24am 1734441875

One of the major reasons the talented young people leave is overpriced housing. And that is something the government can influence

by AN Other | 17th Dec 24, 5:29pm 1734409799

Yes, although I expect it would be picked to pieces by those with a vested interest in the status quo.

So many people deriding BEVs appear to either be oil industry shills or random people conned by the convincing prose of oil industry shills.

by Pa1nter | 17th Dec 24, 5:54pm 1734411274

The repayment time on a lot of this is fairly long, so understanding when (if ever) things will be paid for is fundamental to the case.

Unless we're spending $1 to save 50 cents. Which is fine, if we're doing it for non financial reasons, but we then also need to establish how the balance is funded.

by AN Other | 17th Dec 24, 6:04pm 1734411869

Kinda need to focus on the financial reasons at this point!

by Pa1nter | 17th Dec 24, 6:44pm 1734414268

Then the reason has a number.

You can't argue much against the idea, but without the costings, it's just an idea.

by Let me be Frank | 17th Dec 24, 5:15pm 1734408933

"If we are honest, there is little anyone can do.

Not so...we have at least 2 options that will work in the interim....increase Gov spending (preferably into critical infrastructure/services with an eye to future serviceability) or a redistribution of spending power.

Both are extend and pretend strategies however.

by ChrisOfNoFame | 17th Dec 24, 4:59pm 1734407991

LOL. Seriously? We're far from the USA ... at the moment ... (but getting closer).

by Yvil | 17th Dec 24, 4:06pm 1734404764

Latest news, house prices don't matter anymore, apparently it's all and only about the number of listings!

by lonewolfnz | 17th Dec 24, 4:07pm 1734404839

Yes kind of funny as Auckland bounced nearly 4% in a month.

Auckland properties are the new meme coins

by J.C. | 17th Dec 24, 4:18pm 1734405480

Auckland properties are the new meme coins

Don't give Ashley Church any ideas!

by jbman | 17th Dec 24, 4:17pm 1734405436

I saw a quote at the bottom of this website earlier, think it was Wayne Gretzky, something along the lines of "don't skate after the puck, skate to where the puck is gonna be".

If you focus on price you're always gonna be too late, you need to follow the leading indicators.

Inventory is a leading indicator. It's what people actually mean when they talk about "supply".

by solardb | 17th Dec 24, 6:20pm 1734412821

I remember as a young rugby player watching Graham Mourie play as AB's captain, and noticing how he was always looking where play was going to go. The old commentators would also comment how amazing it was he was the first to arrive at a breakdown , and seemed to know where the ball was going to be.

by Foxglove. | 17th Dec 24, 8:33pm 1734420783

John Ashworth, Canterbury prop. Counties shield challenge. Very close. Canterbury lost a line out just inside their half and the Counties backline started flowing. Ashworth put his head down and thundered straight towards the opposite corner, try line. Got there just in time to bundle out the Counties winger. Old dogs knew all the tricks.

by lonewolfnz | 17th Dec 24, 4:06pm 1734404808

"The problem is that inflation is still running at 3.0%."

Isn't it 2.2%?

by David Chaston | 17th Dec 24, 4:28pm 1734406134

Yeah, my drafting error. Sorry. Updated now, with household living cost context.

by ChrisOfNoFame | 17th Dec 24, 5:04pm 1734408243

Thanks David.

Especially for the household living cost (HLPI) context. That's what inflation really feels like to most of us.

by Yvil | 17th Dec 24, 4:13pm 1734405183

Overall, house prices drifted sideways

HPI over the last 3 months:

NZ + 2.2%

Auckland +3.3%

NZ excl Auckland +1.5%

"Sideways" with a hint of "upwards" ?

by ChrisOfNoFame | 17th Dec 24, 5:09pm 1734408574

Hopium - the perfect example.

Wait for a clear trend. The trend is your friend. (But only if it is supported by other economic indicators.)

by Yvil | 17th Dec 24, 5:59pm 1734411585

Were is the "hopium" part? Is it my question of "a hint of upwards ?" ? Otherwise, I just quoted the HPI data.

by J.C. | 17th Dec 24, 4:11pm 1734405100

One of my directional barometers for China economic health is the share price of Fortescue. Down -35% YTD but has been holding up relatively well post-Covid to now.

So why Forty?

Chinese steel mills and traders often purchase iron ore not just for production but also to leverage it as collateral for securing loans. This strategy helps them obtain necessary funding while maintaining liquidity in their operations. There is a phenomenon known as "ghost collateral", where the same stockpile of iron ore is pledged multiple times to different lenders. This practice raises concerns about transparency and the potential for defaults if the market conditions deteriorate.

by Yvil | 17th Dec 24, 4:31pm 1734406287

Very interesting!

by ChrisOfNoFame | 17th Dec 24, 5:11pm 1734408685

"One of my directional barometers for China economic health is the share price of Fortescue"

Take care.

by observer | 17th Dec 24, 4:13pm 1734405223

"The problem is that inflation is still running at 3.0%."

Actually, it's 2.2%. And it could be nearer 1.5% when the new minimum wage rate comes into effect in April next year.

by David Chaston | 17th Dec 24, 4:30pm 1734406208

see above

by Yvil | 17th Dec 24, 4:21pm 1734405673

To cover its 'losses' the Government is going to have to borrow more.

Is that equivalent to a form of QE, or is it not, because the government is not borrowing from the RBNZ printing money (the original QE) but through Bond tenders ?

by IT GUY | 17th Dec 24, 4:33pm 1734406417

No you have to pay it back via refunding or repayment at the end of the bond....

by keithwoodford | 17th Dec 24, 4:43pm 1734407012

If the bonds are purchased by NZers using NZ dollars then it is not QE.

But if the bonds are purchased by foreigners, who buy the bonds in NZD, but fund the bonds using overseas funds transmitted through the foreign currency market, then things get more complex, with first and second order effects. There is still no QE as normally measured but it would need a general equilibrium model to measure the final effect on inflation.

Either way, the Government has to pay interest plus eventual repayment of the bonds. There is no free lunch.

KeithW

by Yvil | 17th Dec 24, 4:49pm 1734407395

Thanks Keith.

by Let me be Frank | 17th Dec 24, 5:59pm 1734411554

Currently around 60% of NZ bonds are held offshore.

"At 31 May 2023, 62% of NZGBs were held by non-resident investors. Over the past 15 years this percentage has ranged between just under 50% and 80%. Participants in the market are diverse by type and by regional location. Nominal NZGBs and IIBs are currently constituents of a number of global benchmark bond indices."

https://debtmanagement.treasury.govt.nz/sites/default/files/2023-08/nz-…

by Yvil | 17th Dec 24, 4:26pm 1734405976

BREAKING THE ANTI-SPECULATION RULE

So, in time of financial difficulty, the solution is to remove the safety net… Unbelievable! What could possibly go wrong ?

by IT GUY | 17th Dec 24, 4:37pm 1734406637

Nothing, our biggest economic market is in Tip Top condition

by J.C. | 17th Dec 24, 5:05pm 1734408333

Tip Top. Forget them. Check out Joyday, an ice cream brand launched by Yili, a prominent Chinese dairy company. First started in the Indonesian market in 2018 and the first Yili ice cream brand to be introduced internationally. Yili has chosen Indonesia as its dairy production base in 2021.

Joyday has now expanded to Singapore, Thailand, Vietnam, Malaysia and has its sights on the Africa market, first in Tanzania.

Based on taste and price, I reckon Nestle and Unilever need to up their game.

by Pa1nter | 17th Dec 24, 5:09pm 1734408586

Based on taste and price, I reckon Nestle and Unilever need to up their game.

Too bad a lot of sales are about marketing and distribution

by J.C. | 17th Dec 24, 5:16pm 1734408999

Naturally. Joyday is now in 260 cities across 26 provinces in Indonesia. The ice cream category is largely about price and sensory delight. Consumers first.

by Pa1nter | 17th Dec 24, 5:56pm 1734411402

The ice cream category is largely about price and sensory delight.

In Indonesia, or everywhere else?

Our largest selling products are often not the best.

Maccas for instance isn't the cheapest, or tastiest place to get a feed.

by J.C. | 17th Dec 24, 6:02pm 1734411758

Tip Top fits within 'mass market' ice cream. It's not premium. But if you're going to make it in high-growth markets such as ASEAN, you need to be competitive on price, flavor, and format.

Yili gets this.

by IT GUY | 17th Dec 24, 6:04pm 1734411889

happy meals win

by Yvil | 17th Dec 24, 6:04pm 1734411847

"Yili has chosen Indonesia as its dairy production base in 2021."

Production? Really ? Indonesia's tropical climate is not fit for vast pastures,

by IT GUY | 17th Dec 24, 6:05pm 1734411950

making via WMP?

by Yvil | 17th Dec 24, 10:48pm 1734428882

Probably, yes.

by J.C. | 17th Dec 24, 6:13pm 1734412393

Correct. Largest ice cream prodn plant in Indonesia.

by kiwikidsnz | 17th Dec 24, 6:38pm 1734413880

The multinationals use milk powder in low cost Asian plants

by J.C. | 17th Dec 24, 6:43pm 1734414231

So does Yili

by IT GUY | 17th Dec 24, 6:46pm 1734414387

it makes sense that Fonterra is selling assets that are uneconomic

by Chch Lass | 17th Dec 24, 4:56pm 1734407766

If ACC is the bone of contention, perhaps it is time to take a long hard look at exactly who is covered and for what. We should stop covering free loaders who arrive in NZ without travel insurance and any other parties who can be identified as non contributors. The rest of us have no choice to opt out of the levies and obtain insurance more specific to our individual needs. Free loaders are taking the rest of us for suckers.

by Pa1nter | 17th Dec 24, 5:12pm 1734408744

If we actually look at ACCs numbers, the big old white elephant in the room is elderly, having more claims for things like falls, whose treatment and care costs a lot more, and rehabilitation less "successful".

Basically, we haven't provisioned for our aging population anywhere.

By the time we work out how to deal with it, the problem would've attritioned itself away.

by K.W. | 17th Dec 24, 5:43pm 1734410595

And gang member funerals. There seems to be a lot of those lately.

by Pa1nter | 17th Dec 24, 5:58pm 1734411499

If they are, they must be old. There's some fairly obvious markers in the ages and nature of the cost spikes.

Everything else is fairly negligible.

by M0ralHazard | 17th Dec 24, 6:03pm 1734411793

What do gang funerals have to do with ACC?

by Baywatch | 18th Dec 24, 4:47am 1734450468

Ignore KW obsession, clan meeting was small today.

by E46 | 17th Dec 24, 6:07pm 1734412079

Pa1nter dead on the money here I think. So many of our issues appear to be at least partly if not mostly driven by demographics. Our aging population needs an increasing level of support from a shrinking pool of workers yet so much commentary seems to be focused on blaming the other team for all our problems which completely misses the point.

by kiwikidsnz | 17th Dec 24, 6:41pm 1734414113

In fact approx a quarter of NZ Super recipients are still working, up from 5% a couple of decades ago.

https://retirement.govt.nz/policy-and-research/retirement-income-policy….

by JimboJones | 17th Dec 24, 6:46pm 1734414405

That’s because the retirement age hasn’t been increased despite the fact most people don’t need to retire at 65.

by kiwikidsnz | 18th Dec 24, 7:38am 1734460702

Its because most people have to survive

https://www.interest.co.nz/investing/131309/new-research-out-retirement…

by Pa1nter | 17th Dec 24, 6:43pm 1734414221

We have fundamentally altered the trajectory of the population.

The roots go back 50+ years.

We haven't shifted away from a pay-as-you-go system.

The options are limited.

by ChrisOfNoFame | 17th Dec 24, 5:22pm 1734409344

Might I respectfully suggest you bone up on - who and what - is covered by a) ACC and b) our health system?

by solardb | 17th Dec 24, 6:24pm 1734413051

The biggest freeloader would be alcohol , one of the biggest contributing factors , and free of an ACC levy.

by HouseMouse | 17th Dec 24, 5:17pm 1734409038

Anyone else feel that things look very grim with little reason for much hope? (Talking about the country’s economy)

Bah Humbug

by ChrisOfNoFame | 17th Dec 24, 5:28pm 1734409696

There's hope ...

RBNZ has fucked things. A return to neutral - months overdue - will return us to our sub-par mediocracy.

(We're happy with that ... or at least voters are.)

by HouseMouse | 17th Dec 24, 5:30pm 1734409849

Lol

by jbman | 17th Dec 24, 6:46pm 1734414375

A return to neutral

You can't possibly be talking about the OCR.

We've just been through the "return to neutral", with the OCR rises.

Lowering it again is a red flag; a sign of desperation, not hope.

Sorry for being so negative.

- Eeyore

by Pa1nter | 17th Dec 24, 6:00pm 1734411620

Anyone else feel that things look very grim with little reason for much hope? (Talking about the country’s economy)

Can't go up all the time

And it's a long way down

It's happening whether we like it or not, might as well make the most of it.

by HouseMouse | 17th Dec 24, 6:46pm 1734414370

Yeah ok, fine if you are all set

but many aren’t

by Pa1nter | 17th Dec 24, 7:00pm 1734415217

No, no they're not.

But people adapt.

by JimboJones | 17th Dec 24, 6:42pm 1734414128

If Futurama is anything to go by, at least we’ll soon have suicide booths.

by Poission51 | 17th Dec 24, 6:15pm 1734412549

Meridian Manapouri Unit 6,back in operation with sustained generation up to 700MW (with 10% reserve),and Northlands third solar farm starts generating capacity of 14MW,with another 3 solar farms in North in Construction.

by solardb | 17th Dec 24, 6:26pm 1734413199

Good news.

also one of the biggest south island dairy factories moving from coal to woodchip

by Speedmax | 18th Dec 24, 4:09am 1734448147

Yes, and Fontera finished with coal in North Island also. Just need to get Huntly fully onto wood pellets next and some new geothermal underway

by IT GUY | 17th Dec 24, 6:45pm 1734414338

Much of NZ debt is from covid

Has anyone watched Thank You, Dr. Fauci yet?

by HouseMouse | 17th Dec 24, 6:49pm 1734414557

Yes it was extravagant, and unsustainable. But as per the article at the top, Nats complicit

I got a torrent of criticism at the water cooler for saying we would pay dearly for it…

by JimboJones | 17th Dec 24, 6:54pm 1734414856

The countries that did less than us didn’t end up any better off. The economy isn’t going to go well when everyone is scared to leave the house. The Auckland lockdowns were crazy though.

by HouseMouse | 17th Dec 24, 6:56pm 1734415002

Really? Last time I looked countries like USA and Sweden seem to be going ok

Yes the Auckland lockdowns were abhorrent

by JimboJones | 17th Dec 24, 7:02pm 1734415340

In terms of debt?

by IT GUY | 17th Dec 24, 7:05pm 1734415524

On the night of the AKL 2nd lockdown I went south, eventually spent 2 months skiing in Queenstown....

by HouseMouse | 17th Dec 24, 7:23pm 1734416581

Great call

by IT GUY | 17th Dec 24, 8:52pm 1734421920

Came back into Auckland and under lockdown people where meeting at the local pub on Friday nights (was shut) and drank beers on leaners outside, what a crock, cost Labour an election

Following weekend All blacks played in Cardiff, no masks full stadium... Auckland unlocked shortly after ,,, how come Welsh where not scared of Covid?

Now if I find out this was from a Lab, funded from USA do you not think I may want compensation?

by Baywatch | 18th Dec 24, 4:51am 1734450694

Friends back from USA kids lost over a year from school during COVID..

by HouseMouse | 17th Dec 24, 9:24pm 1734423881

Not to worry, the fast track legislation will solve all our woes!

https://www.rnz.co.nz/news/political/536961/fast-track-bill-passes-into…

by HouseMouse | 17th Dec 24, 10:13pm 1734426825

That Watercare map is causing some consternation. Add that to the hikes in development contributions, and it is ‘interesting times’ for residential development in Auckland:

https://www.oneroof.co.nz/news/watercare-blindsides-auckland-developers…