The government has successfully completed most of its action plan for the previous quarter and is now shifting its focus to the upcoming quarter with a continued emphasis on addressing the cost of living.
In the latest report card, two items were marked as ‘in progress’:
– Making Cabinet decisions on capital markets settings to eliminate barriers to listing, reduce costs for businesses, and encourage greater investment in private assets from KiwiSaver providers.
– Releasing the first Government AI strategy to promote the adoption of AI for increased productivity and economic growth.
The AI strategy is set to be unveiled in the following weeks, with further decisions on capital market settings anticipated in the next quarter. One notable change already implemented is the reduction of listing costs for firms by making the publication of their financial information voluntary.
Looking ahead to the next quarter, Prime Minister Christopher Luxon emphasized the importance of addressing cost-of-living pressures in the months to come. The government remains committed to taking action on food, housing, banking, and energy costs to ensure better outcomes for New Zealand families.
Luxon highlighted the need for an economy that benefits all New Zealanders, with increased competition and reduced prices across various sectors.
Upcoming initiatives in the next quarter include the repeal of the oil and gas exploration ban, measures to enhance supermarket competition, and further reforms to the Resource Management Act (RMA).
The government will also introduce standards for the use of overseas building products, streamline land acquisition processes for major projects through the Public Works (Critical Infrastructure) Amendment Bill, and enhance governance and planning at Auckland Transport.
Legislation addressing issues such as stalking, anti-social road use, electoral system changes, and the rehabilitation of remand prisoners will also be advanced. Additionally, actions to strengthen policing authority, improve public services, and tighten eligibility for income support for young adults are on the agenda.
Overall, the government remains focused on driving economic growth, improving living standards, and delivering tangible benefits to the people of New Zealand.
