The Reserve Bank governor is suggesting policymakers build more homes in New Zealand, saying the bank can only do so much to ease house prices.
Adrian Orr has fielded questions at the first finance and expenditure select committee of the year.
Speaking to the central bank’s role in the housing market, Orr says the loan-to-value ratio helps minimise the loss for banks when people get into trouble.
But he says what it can’t do is control prices or demand for houses, and the best way to get downward pressure on house prices is to build more of them.
Councils will have to bear the cost if they want to utilise the Government’s proposed water reforms.
The coalition will scrap Labour’s Three Waters legislation by the end of next week, to be replaced with its alternative for fixing water infrastructure.
The Local Water Done Well bills are due to pass by mid-2025 and will make it easier for councils to band together to form water asset entities.
Local Government Minister Simeon Brown says councils will ultimately be responsible for setting up these organisations.
Woolworths says a dead mouse was found the next day with no further sightings.
New Zealand Food Safety says the situation is concerning for both organisations and they’ll be checking what practices were implemented following its detection.