The SME Stream

Labour is promising it won't change interest deductibility for landlords, and the Finance Minister has been quick to condemn this development.

Leader Chris Hipkins said that since the party has already pledged a capital gains tax, it'll keep deductibility as it is, despite reducing the claimable interest last time they were in Government. 

Nicola Willis says Labour and Hipkins have been consistently blaming National's changes to interest deductibility for the cost of living crisis - only to make an eleventh hour change ahead of the election. 

"Unbelievable - and this is why people can't take him seriously. He's all about the soundbite and ultimately doesn't have a coherent agenda, he's just copied National's homework." 

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Commerce and Consumer Affairs Spokesperson Arena Williams on Labour's supermarket policy.

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Forsyth Barr's Zoe Wallis with an update on the NZ dollar, oil prices, and local data to watch this week.

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The Trade Minister says business with India could grow more over time.

Parliament passed our Free Trade Agreement last week and it's being ratified today, with Royal Assent from the Governor-General.

Prime Minister Chris Luxon says since starting speaking positively about trade with India - it's gone up 72 percent.

Newstalk ZB senior political correspondent Barry Soper says there's a lot of support for the FTA - and Luxon says the nation will start feeling the impacts in a month.

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Cost of living issues are centered on grocery bills - Banking, insurance, airlines, energy 'are not caught by this'.

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Michelle Isemonger, Loan Market Mortgage Adviser, on a subdued mortgage market, cautious borrowers, lender competition and the election effect.

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The US Federal Reserve and the Bank of Japan both made headlines over their recent moves to lift official cash rates, leaving experts to wonder what could be next.

Investors are wondering if there's a longer hiking cycle to come, especially off the back of the ongoing Middle East conflict.

Harbour Asset Management expert Shane Solly explained further.

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Labour's u-turn on interest deductibility is being seen as a huge relief for both landlords and renters. 

The party's confirmed they won't make changes to current rules, which were changed by the Coalition to allow 100% of interest to be claimed on landlords' tax bills.   

Hipkins said yesterday it doesn't need changing back because under Labour, landlords would pay a Capital Gains Tax. 

NZ Property Investors Federation's Matt Ball told Mike Hosking the announcement came out of left field, but it is good news. 

He says reducing the deductible would be a straight hit to the bottom line, and the consequences are passed straight through to the tenant.  

Ball says every renter should breathe a sigh of relief – they're now more secure in their home, rents won't skyrocket, and landlords can now get on and invest in and improve their property.  

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A suggestion consumer spending is recovering - but essential costs are leaving less for the fun stuff.

Kiwibank research reveals more than 71 percent of card transactions in August was on credit cards - the highest share since records began in 2002.

A decade ago, credit cards made up less than half of card spending.

Independent economist Cameron Bagrie told Ryan Bridge power bills and rates are eating into disposable income.

He says there's a structural shift underway, with more money going towards essential costs and less into the retail sector.

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