Weekly Digest – 21 June 2023

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

How to handle inflation as a sole trader

Sole traders have had an especially difficult few years as inflation surges. Here are three tips to help lighten the load for your sole trader business.

Seek job ads fall for second consecutive month, more people vying for same position

The number of jobs advertised in May fell for the second consecutive month and have fallen more than 20 percent since their peak a year ago. Employment website Seek’s monthly employment report shows job ad volumes declined 5 percent month-on-month in May.

Consultation opens on draft Tourism Environment Action Plan

The New Zealand Government has opened a consultation on the draft Tourism Environment Action Plan. Public consultation is now underway on a draft tourism action plan for the environment – the second phase of the Tourism Industry Transformation Plan (ITP).

Government offers taxpayer millions for Ruapehu buyers

A leaked email shows the Crown will spend millions investing in and supporting the buyers of the ski fields. Central Government is offering extensive financial support to the likely buyers of the two Ruapehu ski fields, Turoa and Whakapapa, according to a leaked memo to MBIE’s regional development head.

Parental leave payments to increase from 1 July 2023

The Associate Minister for Workplace Relations and Safety announced today that parental leave payments will increase by 7.7 percent from 1 July 2023, to reflect the 7.7 percent rise in the average weekly earnings.

Investment Ready looks to grow Kiwi food and fibre innovators

Ambitious food and fibre businesses with proven products seeking to expand their operations are being invited to apply for Investment Ready, a programme by The Factory and the Ministry for Primary Industries.

More people expect to delay retirement as cost of living and mortgage rates bite

More New Zealanders expect to have to keep working to fund their retirement as higher mortgage rates and the rising cost of living ramp up financial pressure on seniors.

SMEs hitting election year pause must think again

Anybody in business can tell you that a customary but inexplicable inertia and indecisiveness infects Kiwi SMEs in election years. It’s not good for business or the economy. Assia Salikhova, MD of Wellington business development agency Smarketing Lab, says New Zealand businesses must learn to live in a dynamic environment.

Govt seeks more input on changes to Essential Freshwater reforms

The Essential Freshwater regulations require stock to be excluded from specified wetlands, lakes, and rivers more than 1m wide. The government is seeking input into changes to Essential Freshwater reforms, this time to do with the slope maps used to determine stock exclusion. The reforms were introduced in 2020 but last year the maps were revised to improve how low-slope land is identified.

New additional ETS scheme floated in review of carbon market

The Government has floated a series of options to reform the Emissions Trading Scheme (ETS), with the highest ranked option one which sets up a whole new addition ETS scheme.

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