The SME Stream

Erica Lloyd on what this year's CEO Index finalists say about leadership, ambition and innovation. BusinessDesk CEO Index is sponsored by Range Rover.

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High-profile Mergers and Acquisitions on the NZX, reminder of deal activity. Mohandeep Singh from Craigs Investment Partners.

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ANZ economist Dhiraj Nim on the strategic importance of the NZ-India FTA and how businesses can benefit from India's scale, growth and expanding economy.

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An easier pathway for seasonal workers to move between jobs as the Government plans changes to the RSE Scheme. 

Its tweaks will focus on accommodation standards, clarifying rules, and strengthening pastoral care. 

It also includes an accreditation system, meaning less paperwork for businesses with a proven track record. 

Immigration Minister Erica Stanford told Mike Hosking this will level the playing field by putting RSE visa holders through the same process as other work visa holders. 

She says this includes applying for a variation of conditions, which are processed quickly, and then they can move between jobs. 

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An economist says New Zealand is no longer in a cost of living crisis.  

New Stats NZ data shows the cost of living for the average New Zealand household increased 3.2% in the year to June 2026 quarter.  

It's the largest jump in more than four years, with higher petrol prices accounting for almost one-third of the annual increase 

Westpac Chief Economist Kelly Eckhold told Mike Hosking it isn't a crisis, but concedes it's not a comfortable situation for many.  

He says cost increases are outstripping wage increases, but it isn't as bad as the post-Covid era. 

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The rising cost of living is down to more than global uncertainty, according to one expert.

Stats NZ data shows costs for the average household jumped 3.2 percent annually to June, a more than four-year-high.

Petrol was the biggest contributor - skyrocketing more than 27 percent.

Independent economist Cameron Bagrie says shocks like US tariffs and its war with Iran play a role, but core inflation is still higher than before Covid.

"But there's a little bit more of a sticky persistent inflation - it's the obvious drivers like rates, it's your insurance, it's your energy bills, which the Reserve Bank can't control."

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Nicola Willis will like the inflation number that's come out. More importantly, she'll like the story that number is telling.

Remember, her target audience is the squeezed middle. This is the battleground. This is the fight for the soft centre at the election: Labour versus National. These are the voters both parties are targeting.

The Stats NZ figure for the year to the June quarter is 3.2 percent. Prices are up for the average Kiwi family. On the face of it, that doesn't sound like good news.

But for the roughly one-third of Kiwis who own a home, aka the squeezed middle, the number is better than it could have been. That's because this figure is based on the Household Living-Costs Price Index, not the Consumers Price Index (CPI).

CPI inflation is 4.1 percent. This measure is lower at 3.2 percent. Why? Because it takes into account the cost of mortgage interest payments.

And the mortgage-interest story is a good one. On these numbers, mortgage interest payments are 15 percent cheaper.

Just imagine how bad this figure could have been if interest rates hadn't fallen, or if the Reserve Bank hadn't had the headroom to cut rates.

You can see where I'm going with this.

If you're an average home-owning family with two kids in New Zealand, you know how important your mortgage is to your sense of financial wellbeing. The smaller it is, the better you feel.

So Nicola Willis will see this number as positive for two reasons. First, she'll claim some credit for helping bring mortgage costs down by 15 percent. Even though that's largely the Reserve Bank's doing, she'll argue that the Government created the conditions that made it possible.

Second, she'll blame Donald Trump for prices continuing to rise, which isn't entirely untrue. A third of the annual increase is due to petrol prices and that's tied to events involving Trump and Iran.

This helps National because it's running this election not only on its own record, which, let's be honest, has been patchy, but also against Labour's record. It's playing the "don't put it all at risk" card and it's playing that card hard.

You would have heard that from Nicola Willis on the show.

The only problem with these numbers is that they're backward-looking. Yes, interest rates have been coming down but they're starting to climb again. Westpac has moved on fixed rates and you can bet your bottom dollar the other banks will soon follow.

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How do organisations build talent when the skills they need take years to develop?

In this episode of HR Unlocked, Lisa Oakley sits down with Kim Milne, Chief People Officer at Elf Group, including AB Equipment and Speirs Finance Group, to explore apprenticeships, leadership, workforce development, and the future of skilled trades in New Zealand.

Drawing on her experience across operations, people leadership, governance, and industry training, Kim shares practical insights into developing talent from the ground up, creating career pathways, and helping technical specialists transition into leadership roles.

From attracting young people into trades and supporting women in operational industries to workforce planning and leadership development, this conversation highlights the importance of investing in people for the long term.

What You'll Learn

• Why apprenticeships remain critical to New Zealand's workforce future

• How organisations can identify potential before technical skills exist

• The leadership challenges faced by technical specialists moving into management

• Why customer skills matter just as much as technical expertise

• How businesses can attract more women into trades and operational roles

• The importance of workforce planning and knowledge transfer

• Why commercial understanding strengthens people leadership

Key Takeaways

• Great talent is built, not simply recruited

• Attitude and potential often matter more than existing skills

• Leadership requires a different skill set than technical expertise

• Investing in apprenticeships creates long-term organisational success

• The future of work still relies heavily on skilled people and human connection

About Kim Milne

Kim Milne is Chief People Officer at Elf Group and serves on the boards of MITO and Christchurch Boys' High School. She is passionate about apprenticeships, workforce development, leadership capability, and creating career opportunities across trades and operational industries.

Why This Episode Matters

As New Zealand faces ongoing skills shortages and changing workforce demands, organisations need practical strategies to attract, develop, and retain talent. This episode offers valuable insights for leaders, HR professionals, educators, and business owners committed to building the workforce of the future.

Resources

Kim Milne | LinkedIn

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The Government says escalation in the Iran war may move out the trigger-point for stopping temporary fuel-support payments.

The $50 weekly payments for lower-income working families was meant to last a year from April, or until 91-octane stays cheaper than three-dollars a litre for a month. 

Finance Minister Nicola Willis expects we'll reach the four-week threshold this week - but the latest data won't be available til Wednesday. 

"The reason we put that four-week rule in place was because we do not think we should have these extra supports in longer than we need them."

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Fed Reserve Chair Kevin Warsh is expected to hold rates at the central banks' next meeting. Forsyth Barr's Zoe Wallis joins Herald NOW.

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