Weekly Digest – 13 December 2022

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

Gloom and doom over the economy can wait, one analyst thinks

The robust labour market, the return of tourism, and the for-now still strong building sector should keep things humming along over the summer and into next year.

Could we boost foreign investment by reducing tax barriers?

According to one tax specialist, lowering the tax rate would benefit the economy in the long term by bringing New Zealand into line with other OECD countries.

“Brain gain” seems to be turning into a pattern

The number of long-term migrants arriving in New Zealand increased for the fourth consecutive month – with more coming in October this year than at any time since March 2020.

The housing slide continues

According to Quotable Value’s house price index, the average house value fell by $100,000 from the start of the year to November.

Household debt repayments are expected to continue to rise through 2024

ASB Bank predicts debt servicing costs will increase by $100 per week by the end of 2024, with some heavily indebted households spending hundreds more a week.

Demand for meat exports is expected to fall as economic challenges persist worldwide

Sheep and beef meat prices are likely to decrease due to significant economic challenges in New Zealand’s main export markets, as well as lockdowns in China.

Many households struggling to make ends meet

A bad batch of aviation fuel forced American Airlines to change its schedule due to a fuel shortage at Auckland Airport. The contaminated jet fuel from Z Energy resulted in airlines being told to avoid fueling up at Auckland until 18 December.

‘Late capitalism’ explained

The term late capitalism pops up in a wide range of academic articles and books. But what does it mean?

Tenant threatened with eviction if he refused to feed the landlord’s pets

Auckland landlords were ordered to pay their tenant $3000 for “emotional harm” after they entered the tenant’s home without permission. However, the tenant sought further compensation as he told the Tenancy Tribunal that he felt like a servant for being made to feed the landlord’s ten cockatoos.

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