Holiday Breakfast

Britain will boost its defence spending to 2.5 percent of national output by the end of the decade. 

UK Prime Minister Rishi Sunak made the pledge when meeting with secretary general of NATO Jens Stoltenberg. The rise in spending will equate to £78 billion and dwarfs NATO contributions from countries like Germany, France, Italy and Spain.  

UK correspondent Rod Liddle tells Roman Travers that Sunak prefaced his arguments saying we live in an “increasingly dangerous world”. 

Meanwhile, deputy Labour leader Angela Rayner faces more trouble as deputy PM Oliver Dowden has suggested she resign over the row surrounding her council house. 

Rayner has been accused of lying about her former home, which she bought using a right to buy scheme before selling it eight years later for a £48,500 profit. There is confusion over whether the property was indeed her principal residence, leading to questions over whether she avoided capital gains tax. 

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Venice, Italy will introduce a tax for day trippers to enter the city.  

Italian correspondent Jo McKenna tells Roman Travers the tax’s introduction could cause chaos due to the lack of awareness about it. Day trippers can register online, stating their intention to go to Venice. The tax will cost New Zealand visitors €10 per person.  

Meanwhile, a 13 month old baby boy has been killed by two pitbull terriers in the southern Italian town of Campo Longo sparking calls for more serious controls around dogs. 

And, Italian PM Giorgia Meloni has addressed the European Conservatives and Reformists caucus ahead of the EU elections in June. Meloni has said they must “defend our nations”.  

Strongly aligned with Spain’s Vox party, the French Reconquest party and Hungarian Prime Minister Viktor Orbán’s Fidesz party, Meloni is looking for a strong sweep of the right wing when the EU elections take place. 

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As interest rates globally have risen significantly in recent weeks, many investors are pushing back the timing for interest rate cuts. 

Yesterday, Australia saw a falling annual inflation rate. Annual inflation in the year to March was 3.6 percent – less than the hoped-for 3.4 percent, which the Reserve Bank had indicated would be the level needed to cut interest rates later in the year. 

Meanwhile, banks in New Zealand have released a preview of the first quarter labour market data.  

Unemployment levels have risen to 4.2 percent and markets are keenly watching for signs that wage growth is easing.  

Westpac Chief Economist Kelly Eckhold tells Roman Travers the unemployment level is a useful step on the path of 5 percent that the Reserve Bank is looking for. 

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Big changes for the Reserve Bank, as it appoints new members to its Monetary Policy Committee.

University of Auckland macroeconomics professor Prasanna Gai and former Electricity Authority chief executive Carl Hansen will take up their posts later in the year.

Westpac chief economist Kelly Eckhold explains what these new changes could mean for the future of the OCR.

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The Warriors played in front of a sold-out crowd at Auckland's own Mt Smart stadium- and were rewarded with a win.

Despite a leg injury taking down Luke Metcalf in the first 10 minutes, the team beat the Newcastle Knights 20-12.

ZB sport commentator Elliot Smith recaps the team's second victory of the season.

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The Warriors have made it two wins in a row, after beating the Newcastle Knights 20-12 at a sold-out Mount Smart.

Jackson Ford, Chanel Harris-Tavita and Marcelo Montoya all bagged tries for the hosts, with Shaun Johnson's penalty enough to secure the win.

Team CEO Cameron George was stoked to help create an environment where fans could fill up one of New Zealand's biggest stadiums on a long weekend.

"It's been work in progress for a long time- these things don't happen overnight. We've got a terrific team in the office that put together such a fantastic event."

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Less money in the wallets of EV owners, but more money in the budget for fixing our roads.

Owners of EVs and plug-in hybrids are no longer exempt from road user charges.

From today, EV owners will need to pay $76 per 1000 kilometres, while plug-in hybrids will need to pay $38.

AA's Principal Policy Advisor for Motoring Affairs Terry Collins says the change has been a long time coming.

"The current Government discontinued the previous Government's announcement, so there's been plenty of indication that this was going to happen."

Collins says the money will go straight towards building roads and repairing potholes.

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King Charles has shaken hands with members of the public, in his first significant public appearance since being diagnosed with cancer.

He's attended the annual Easter Sunday service in Windsor with his wife Queen Camilla.

Prince William, Princess Catherine and their children weren't in attendance, due to Catherine's ongoing cancer battle.

Royal correspondent Russell Myers says it was a slimmed down congregation.

"Very much in keeping with the King's desire to try and keep up with duties, he's had a scaled-down schedule and that's definitely to minimise the risk of infection."

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Current Tenancy Tribunal processes are failing to get some tenants to pay what they owe.

The Herald's Open Justice reports landlords have been chasing $1.3 million of unpaid rent through the tribunal in just the first two months of this year.

Auckland Property Investors' Federation Vice President Peter Lewis says bonds don't cover the cost.

"Often you find that you have a bond that's, say, $2000. But by the time a deal is made, the debt can be more that $4000-$5000."

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There's hope a $100 million industrial complex under construction in Auckland will create a new standard for sustainable goods distribution.

Argosy Property's 3.5 hectare development on Neilson Street in Onehunga is expected to be completed late next year.

It will have large rainwater tanks, will accommodate EV truck charging and will have solar panels for electrified vehicles, industrial processes and logistics.

Argosy Property Head of Development Marilyn Storey says they've just broken ground at the site.

"We are creating a lower carbon footprint building, we're targeting much lower emissions."

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