MARCH 2024 - NZ Economy: Filling in the potholes

many large companies, with around two- thirds of listed companies reporting less On the positive side of the ledger, the Government has got out of the blocks in a rush to profitability compared to the previous six remove some of the regulatory burden stopping businesses getting on with business, while months. [...] The improved confidence shown by the business community is likely to be driven at least partly by a new Government intent on trying to ease the regulatory burden facing businesses and allowing them to get on with the job of growing the economy. [...] There already appears to be a shortfall in the ability of the Government to fund its roads of national significance, with the Government looking at new ways to plug the gaps. [...] Many households are also yet to feel the full effects of rising interest rates, given a general propensity to have 2-3 year fixed mortgages with the real impact of the Reserve Bank’s hikes in the OCR over 2022 and the first half of 2023 yet to flow through. [...] The government’s decision to introduce the Fast-track Approvals Bill to Parliament, the purpose of which is to fast- track consents for regional and nationally significant infrastructure projects may well be a shot in the arm for the agricultural sector, particularly in respect to the potential development of large water storage for irrigation.