The SME Stream

The Prime Minister ponders the curse of being an Air New Zealand CEO. Plus, we discuss tonight’s Rural Issues Debate, the diesel crisis, the age of eligibility for National Super, Chippy’s flawed CGT and the dangers of strategic voting.

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Rabobank’s chief economist comments on rising OCR rates, both here and in Australia, the Red Meat Sector Conference, and whether there is an end in sight for the Middle East conflict and associated fuel crisis.

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Greens co-leader Chlöe Swarbrick says she wants to see the party's commitments delivered after the election. 

After scoring 16 percent in Monday’s 1News Verian poll, Swarbrick said they'd demand high-profile portfolios, if they reach that number on election day.

Chris Hipkins has again ruled her out as finance minister, under a Labour Government.

Swarbrick says she's not counting chickens - but neither should Labour. 

"If you're serious about actually meaningfully making economic transformation, you need to have the portfolios that are necessary to do that." 

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The current Government earlier indicated they could be looking to make changes to NZ Super and adjust the eligibility age, but they've changed their tone ahead of election season.

Chris Luxon and Nicola Willis recently declined opportunities to explicitly back the policy when asked about it after Treasury released its Pre-Election Economic and Fiscal Update earlier this week.

NZ Herald Wellington business editor Jenee Tibshraeny says it seems like there's a shift, but they haven't unveiled any campaign announcements related to NZ Super yet.

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Most people appear to be managing their money well against ongoing financial volatility.  

Centrix's August credit indicator shows expected seasonal uplifts in consumer and mortgage arrears, but an overarching easing pattern for both.  

Consumer arrears ticked up to 10.74% but remain 11.2% lower than a year ago.  

Company liquidations are up 14% on last year, but the indicator found demand is about the same as in 2025, and defaults are down 1%.   

Chief Operating Officer Monika Lacey told Mike Hosking things are definitely stabilising, and they'd expect to see it continue. 

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The Government’s opened its books and it’s showing a return to surplus is well on track. 

The Pre-election Economic and Fiscal Update shows a stronger and slightly faster surplus than predicted... with the books expected to get out of the red by 2028/29. 

Treasury also predicts unemployment has already peaked - and will track down. 

But, it’s not all sunshine and rainbows. Predictions of house price growth have been slashed, and there are some choice words about how costly our super is. 

Today on The Front Page, NZ Herald business editor at large, Liam Dann is with us to break it all down.

Follow The Front Page on iHeartRadio, Apple Podcasts, Spotify or wherever you get your podcasts.

You can read more about this and other stories in the New Zealand Herald, online at nzherald.co.nz, or tune in to news bulletins across the NZME network.

Host: Chelsea Daniels
Editor/Producer: Richard Martin
Producer: Jane Yee

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Labour's leader is confident their numbers add up when it comes to paying for their policies – including reversing pay equity changes. 

The Government's books were opened yesterday in Treasury's Pre-Election Economic and Fiscal Update. 

It revealed the planned 2028/29 surplus will be nearly $2 billion bigger than forecast, and the Crown will borrow less.  

Treasury thinks unemployment's peaked, and inflation's predicted to be back where it should be next year. 

Chris Hipkins told Mike Hosking they'll show there's room for pay equity in their fiscal plan, but won't have a specific line item on it. 

He says you don't tell the other side what's in the envelope when you're going through a bargaining process, and that's never been done with pay equity. 

Hipkins is also still coming to terms with the news that former Speaker and Labour MP Adrian Rurawhe has died. 

Rurawhe was MP for Te Tai Hauāuru from 2014 to 2023, was the Speaker in the last Labour Government's second term, and was a Labour list MP from 2023 until early this year. 

The 65-year-old will lie in state at Whangaehu Marae, south of Whanganui, until his burial at Ngā Puketuurua Ratana Pa. 

The Labour Leader told Hosking Rurawhe was well-respected across Parliament and did a great job as Speaker, and his death will come as a shock to everyone. 

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The Finance Minister has her eye firmly on returning to surplus after a pre-election look into the books.  

Treasury forecasts predict the next two years' deficits will be much smaller, and the 2028/29 surplus nearly $2 billion larger than expected.  

But much of that improvement is down to income-tax bracket creep, and more revenue from GST and company tax.  

Nicola Willis told Mike Hosking it would be irresponsible to be talking about how they'll spend a surplus on things like tackling the tax bracket creep before it's arrived. 

She says circumstances could change, not because they won't remain focused, but because the world is volatile and forecasts could shift.  

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National's Nicola Willis is putting the rosier Government books - unveiled today - down to Kiwis' hard work, but won't say whether they'll be repaid a dividend in the form of tax cuts. 

Forecasts predict the next two years' deficits will be much smaller, and the 2028/29 surplus nearly $2 billion larger than earlier expected. 

But much of that improvement is down to income-tax bracket creep, and more revenue from GST and company tax. 

Willis says her focus is getting debt down, to buffer against any future shock.

"Those are National's budget responsibility rules - we have to deliver on those before we start dishing out the dividend." 

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Having a single company influence a big part of the overall market is not unheard of, but what are the risks from concetration? Mohandeep Singh - Craigs.

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